Illumina (Nasdaq: ILMN) reported earnings on April 22. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Illumina beat expectations on revenues and beat expectations on earnings per share.

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

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

Revenue details
 Illumina logged revenue of $331.0 million. The 19 analysts polled by S&P Capital IQ hoped for a top line of $310.7 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $272.8 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 $0.46. The 22 earnings estimates compiled by S&P Capital IQ anticipated $0.39 per share. Non-GAAP EPS of $0.46 for Q1 were 28% higher than the prior-year quarter's $0.36 per share. GAAP EPS were -$0.18 for Q1 compared to $0.20 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 68.2%, 70 basis points better than the prior-year quarter. Operating margin was 19.7%, 200 basis points worse than the prior-year quarter. Net margin was -6.8%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $325.0 million. On the bottom line, the average EPS estimate is $0.39.

Next year's average estimate for revenue is $1.33 billion. The average EPS estimate is $1.63.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 671 members out of 718 rating the stock outperform, and 47 members rating it underperform. Among 189 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 180 give Illumina a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Illumina is outperform, with an average price target of $55.36.

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