Rockwell Collins (NYSE: COL) reported earnings on Jan. 19. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Rockwell Collins met expectations on revenue and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped slightly, and earnings per share shrank.

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

Revenue details
Rockwell Collins logged revenue of $1.1 billion. The 16 analysts polled by S&P Capital IQ looked for sales of $1.1 billion. Sales were 1.4% lower than the prior-year quarter's $1.1 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
EPS came in at $0.86. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.84 per share. GAAP EPS of $0.86 for Q1 were 10% lower than the prior-year quarter's $0.96 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 29.3%, 90 basis points better than the prior-year quarter. Operating margin was 17.9%, 70 basis points better than the prior-year quarter. Net margin was 11.9%, 170 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.2 billion. On the bottom line, the average EPS estimate is $1.10.

Next year's average estimate for revenue is $5.0 billion. The average EPS estimate is $4.49.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 343 members out of 360 rating the stock outperform, and 17 members rating it underperform. Among 113 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 110 give Rockwell Collins 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 Rockwell Collins is outperform, with an average price target of $63.65.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.