OfficeMax (NYSE: OMX) reported earnings on May 8. Here are the numbers you need to know.

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

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

Gross margins expanded, operating margins dropped, net margins dropped.

Revenue details
OfficeMax booked revenue of $1.87 billion. The 10 analysts polled by S&P Capital IQ expected sales of $1.87 billion on the same basis. GAAP reported sales were 0.5% higher than the prior-year quarter's $1.86 billion.

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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 $0.23. The 12 earnings estimates compiled by S&P Capital IQ averaged $0.16 per share. GAAP EPS of $0.06 for Q1 were 54% lower than the prior-year quarter's $0.13 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 25.8%, 30 basis points better than the prior-year quarter. Operating margin was 1.0%, 30 basis points worse than the prior-year quarter. Net margin was 0.3%, 30 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.65 billion. On the bottom line, the average EPS estimate is $0.06.

Next year's average estimate for revenue is $7.08 billion. The average EPS estimate is $0.65.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 174 members out of 296 rating the stock outperform, and 122 members rating it underperform. Among 85 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 56 give OfficeMax a green thumbs-up, and 29 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on OfficeMax is hold, with an average price target of $8.10.

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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.