Vantage Drilling (AMEX: VTG) reported earnings on May 10. Here are the numbers you need to know.

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

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

Margins improved across the board.

Revenue details
Vantage Drilling tallied revenue of $131.8 million. The two analysts polled by S&P Capital IQ expected sales of $127.6 million on the same basis. GAAP reported sales were 45% higher than the prior-year quarter's $90.7 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 $0.00. The four earnings estimates compiled by S&P Capital IQ predicted -$0.01 per share. GAAP EPS dropped to zero from the prior-year quarter's -$0.06.

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 47.4%, 3,270 basis points better than the prior-year quarter. Operating margin was 30.9%, 410 basis points better than the prior-year quarter. Net margin was -0.9%, 1,970 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $123.9 million. On the bottom line, the average EPS estimate is -$0.05.

Next year's average estimate for revenue is $547.2 million. The average EPS estimate is -$0.11.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 188 members out of 199 rating the stock outperform, and 11 members rating it underperform. Among 50 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 give Vantage Drilling 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 Vantage Drilling is outperform, with an average price target of $2.10.

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