Crimson Exploration (Nasdaq: CXPO) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Crimson Exploration missed estimates on revenues and earnings per share.

Compared with the prior-year quarter, revenue shrank and GAAP loss per share dropped.

Gross margins contracted, operating margins expanded, net margins improved.

Revenue details
Crimson Exploration reported revenue of $26.7 million. The four analysts polled by S&P Capital IQ expected revenue of $27.5 million on the same basis. GAAP reported sales were 3.4% lower than the prior-year quarter's $27.6 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 -$0.08. The five earnings estimates compiled by S&P Capital IQ predicted -$0.06 per share. GAAP EPS were -$0.10 for Q1 compared to -$0.19 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 77.3%, 130 basis points worse than the prior-year quarter. Operating margin was 1.6%, 2,220 basis points better than the prior-year quarter. Net margin was -16.5%, 1,440 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $32.3 million. On the bottom line, the average EPS estimate is -$0.02.

Next year's average estimate for revenue is $132.8 million. The average EPS estimate is -$0.01.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 107 members out of 111 rating the stock outperform, and four members rating it underperform. Among 17 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Crimson Exploration a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crimson Exploration is outperform, with an average price target of $4.27.

How did Crimson Exploration treat you during the oil spike in 2008 and the subsequent bust? More importantly, what are you doing to prepare for the next spike that some experts believe another spike may be just around the corner? Prepare yourself with a well-positioned energy stock we profile in "The Only Energy Stock You'll Ever Need." Get instant access to this free report.