Carrizo Oil & Gas (Nasdaq: CRZO) reported earnings yesterday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Carrizo Oil & Gas whiffed on revenues and whiffed on earnings per share.

Compared to the prior-year quarter, revenue improved significantly, and GAAP earnings per share increased.

Margins improved across the board.

Revenue details
Carrizo Oil & Gas booked revenue of $66.3 million. The eight analysts polled by S&P Capital IQ expected a top line of $79.2 million on the same basis. GAAP reported sales were 84% higher than the prior-year quarter's $36 million.

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

EPS details
Non-GAAP EPS came in at $0.23. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.32 per share on the same basis. GAAP EPS were $0.16 for Q4 against -$1.01 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 86.6%, 530 basis points better than the prior-year quarter. Operating margin was 24.9%, 2,180 basis points better than the prior-year quarter. Net margin was 9.5%, 10,920 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $81.6 million. On the bottom line, the average EPS estimate is $0.41.

Next year's average estimate for revenue is $437 million. The average EPS estimate is $2.93.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 241 members rating the stock outperform and 29 members rating it underperform. Among 78 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 68 give Carrizo Oil & Gas a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carrizo Oil & Gas is outperform, with an average price target of $38.50.

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