Procera Networks (Nasdaq: PKT) reported earnings on Feb. 28. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Procera Networks whiffed on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share shrank significantly. GAAP earnings per share dropped significantly.

Gross margins expanded, operating margins dropped, net margins contracted.

Revenue details
 Procera Networks reported revenue of $16.6 million. The seven analysts polled by S&P Capital IQ foresaw net sales of $19.1 million on the same basis. GAAP reported sales were 6.0% higher than the prior-year quarter's $15.6 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 $0.12. The seven earnings estimates compiled by S&P Capital IQ averaged $0.14 per share. Non-GAAP EPS of $0.12 for Q4 were 20% lower than the prior-year quarter's $0.15 per share. GAAP EPS of $0.06 for Q4 were 45% lower than the prior-year quarter's $0.11 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 64.7%, 910 basis points better than the prior-year quarter. Operating margin was 7.0%, 440 basis points worse than the prior-year quarter. Net margin was 7.4%, 390 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $16.0 million. On the bottom line, the average EPS estimate is $0.04.

Next year's average estimate for revenue is $75.0 million. The average EPS estimate is $0.54.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 96 members out of 102 rating the stock outperform, and six members rating it underperform. Among 17 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 14 give Procera Networks a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Procera Networks is buy, with an average price target of $28.80.

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