Dole Food (NYSE: DOLE) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 23 (Q1), Dole Food beat expectations on revenues and beat expectations on earnings per share.

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

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

Revenue details
 Dole Food reported revenue of $1.05 billion. The four analysts polled by S&P Capital IQ anticipated net sales of $1.03 billion on the same basis. GAAP reported sales were 35% lower than the prior-year quarter's $1.63 billion.

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 four earnings estimates compiled by S&P Capital IQ averaged $0.11 per share. Non-GAAP EPS of $0.12 for Q1 were 25% lower than the prior-year quarter's $0.16 per share. GAAP EPS were -$0.75 for Q1 against $0.19 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 10.3%, 20 basis points worse than the prior-year quarter. Operating margin was 3.7%, 100 basis points better than the prior-year quarter. Net margin was -6.3%, 730 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $1.08 billion. On the bottom line, the average EPS estimate is $0.37.

Next year's average estimate for revenue is $4.20 billion. The average EPS estimate is $0.51.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 121 members out of 130 rating the stock outperform, and nine members rating it underperform. Among 30 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give Dole Food 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 Dole Food is hold, with an average price target of $10.67.

The rich are different than you and me: They might not notice the moneymaking stories right under our noses. In our new report, "Middle-Class Millionaire-Makers: 3 Stocks Wall Street's Too Rich to Notice," we give you three Peter Lynch-inspired buy-what-you-know stocks for the 99%. Click here for instant access to this free report.