Xyratex (Nasdaq: XRTX) reported earnings on April 4. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Feb. 28 (Q1), Xyratex beat expectations on revenues and exceeded expectations on earnings per share.

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

Gross margins grew, operating margins dropped, net margins dropped.

Revenue details
 Xyratex tallied revenue of $195.6 million. The three analysts polled by S&P Capital IQ predicted revenue of $177.3 million on the same basis. GAAP reported sales were 34% lower than the prior-year quarter's $295.7 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 -$0.13. The two earnings estimates compiled by S&P Capital IQ predicted -$0.21 per share. Non-GAAP EPS were -$0.13 for Q1 compared to $0.40 per share for the prior-year quarter. GAAP EPS were -$0.19 for Q1 versus $0.38 per share for the prior-year quarter.

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 18.9%, 100 basis points better than the prior-year quarter. Operating margin was -2.9%, 650 basis points worse than the prior-year quarter. Net margin was -2.6%, 630 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $202.7 million. On the bottom line, the average EPS estimate is -$0.13.

Next year's average estimate for revenue is $872.1 million. The average EPS estimate is $0.01.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 260 members out of 279 rating the stock outperform, and 19 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give Xyratex a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Xyratex is outperform, with an average price target of $11.00.

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