Volcano (Nasdaq: VOLC) is expected to report Q1 earnings on May 2. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Volcano's revenues will increase 6.4% and EPS will come to zero.

The average estimate for revenue is $96.1 million. On the bottom line, the average EPS estimate is $0.00.

Revenue details
Last quarter, Volcano booked revenue of $102.5 million. GAAP reported sales were 10% higher than the prior-year quarter's $92.7 million.

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

EPS details
Last quarter, non-GAAP EPS came in at $0.15. GAAP EPS of $0.05 for Q4 were 91% lower than the prior-year quarter's $0.54 per share.

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

Recent performance
For the preceding quarter, gross margin was 66.7%, 60 basis points worse than the prior-year quarter. Operating margin was 6.8%, 260 basis points worse than the prior-year quarter. Net margin was 2.4%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $410.8 million. The average EPS estimate is $0.07.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 162 members out of 186 rating the stock outperform, and 24 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Volcano 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 Volcano is outperform, with an average price target of $29.95.

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