Atlas Pipeline Partners (NYSE: APL) reported earnings on April 29. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Atlas Pipeline Partners missed estimates on revenues and missed expectations on earnings per share.

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

Gross margins dropped, operating margins were steady, net margins dropped.

Revenue details
 Atlas Pipeline Partners tallied revenue of $407.9 million. The four analysts polled by S&P Capital IQ anticipated a top line of $439.4 million on the same basis. GAAP reported sales were 35% higher than the prior-year quarter's $301.9 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 -$0.48. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.35 per share. GAAP EPS were -$0.48 for Q1 versus $0.06 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 14.8%, 330 basis points worse than the prior-year quarter. Operating margin was 3.9%, much about the same as the prior-year quarter. Net margin was -7.1%, 870 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $503.3 million. On the bottom line, the average EPS estimate is $0.44.

Next year's average estimate for revenue is $2.09 billion. The average EPS estimate is $1.89.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Atlas Pipeline Partners is outperform, with an average price target of $40.00.

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