LMI Aerospace (Nasdaq: LMIA) reported earnings on May 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), LMI Aerospace met expectations on revenues and beat expectations on earnings per share.

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

Gross margins improved, operating margins dropped, net margins increased.

Revenue details
LMI Aerospace booked revenue of $66.7 million. The three analysts polled by S&P Capital IQ wanted to see a top line of $67.4 million on the same basis. GAAP reported sales were 9.6% higher than the prior-year quarter's $60.9 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 $0.41. The three earnings estimates compiled by S&P Capital IQ averaged $0.39 per share. GAAP EPS of $0.41 for Q1 were 11% higher than the prior-year quarter's $0.37 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 24.7%, 80 basis points better than the prior-year quarter. Operating margin was 11.1%, 50 basis points worse than the prior-year quarter. Net margin was 7.2%, 20 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $70.2 million. On the bottom line, the average EPS estimate is $0.44.

Next year's average estimate for revenue is $288.6 million. The average EPS estimate is $1.87.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 129 members out of 135 rating the stock outperform, and six members rating it underperform. Among 25 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 24 give LMI Aerospace a green thumbs-up, and one gives it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on LMI Aerospace is buy, with an average price target of $26.33.

Over the decades, small-cap stocks, like LMI Aerospace have provided market-beating returns, provided they're value priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.