Neogen (Nasdaq: NEOG) reported earnings March 27. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Feb. 29 (Q3), Neogen met expectations on revenues and met expectations on earnings per share.

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

Gross margins improved, operating margins shrank, net margins were steady.

Revenue details
Neogen booked revenue of $44.9 million. The five analysts polled by S&P Capital IQ foresaw net sales of $45.0 million on the same basis. GAAP reported sales were 6.3% higher than the prior-year quarter's $42.2 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 $0.22. The four earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. GAAP EPS of $0.22 for Q3 were 4.8% higher than the prior-year quarter's $0.21 per share.

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 51.0%, 230 basis points better than the prior-year quarter. Operating margin was 16.8%, 230 basis points worse than the prior-year quarter. Net margin was 11.7%, about the same as the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $48.0 million. On the bottom line, the average EPS estimate is $0.25.

Next year's average estimate for revenue is $183.6 million. The average EPS estimate is $0.93.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 256 members out of 264 rating the stock outperform, and eight members rating it underperform. Among 71 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 71 give Neogen a green thumbs-up.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Neogen is outperform, with an average price target of $38.60.

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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. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.