Atwood Oceanics (NYSE: ATW) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q2), Atwood Oceanics beat on both revenue and earnings per share.

Compared to the prior-year quarter, revenue grew, while GAAP earnings per share shrank significantly.

Margins shrank across the board.

Revenue details
Atwood Oceanics booked revenue of $171.6 million. The six analysts polled by S&P Capital IQ expected to see a top line of $168.3 million on the same basis. GAAP-reported sales were 7.9% higher than the prior-year quarter's $159.1 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 $0.90. The 10 earnings estimates compiled by S&P Capital IQ anticipated $0.77 per share. GAAP EPS of $0.90 for Q2 were 17% lower than the prior-year quarter's $1.08 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 53.8%, 1,450 basis points worse than the prior-year quarter. Operating margin was 37.6%, 1,950 basis points worse than the prior-year quarter. Net margin was 34.6%, 980 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $169.7 million. On the bottom line, the average EPS estimate is $0.83.

Next year's average estimate for revenue is $746.3 million. The average EPS estimate is $3.83.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,339 members rating the stock outperform and 22 members rating it underperform. Among 634 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 628 give Atwood Oceanics a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Atwood Oceanics is outperform, with an average price target of $51.03.

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