LSI (NYSE: LSI) reported earnings on Oct. 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), LSI missed estimates on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.

Margins increased across the board.

Revenue details
 LSI reported revenue of $624.0 million. The 13 analysts polled by S&P Capital IQ anticipated sales of $637.9 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $546.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.17. The 13 earnings estimates compiled by S&P Capital IQ forecast $0.17 per share. GAAP EPS of $0.07 for Q3 were 40% higher than the prior-year quarter's $0.05 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 53.5%, 530 basis points better than the prior-year quarter. Operating margin was 8.5%, 140 basis points better than the prior-year quarter. Net margin was 6.4%, 100 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $649.1 million. On the bottom line, the average EPS estimate is $0.17.

Next year's average estimate for revenue is $2.57 billion. The average EPS estimate is $0.74.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on LSI is outperform, with an average price target of $9.45.

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