FLIR Systems (Nasdaq: FLIR) reported earnings on May 10. Here are the numbers you need to know.

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

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

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

Revenue details
FLIR Systems booked revenue of $348.5 million. The 12 analysts polled by S&P Capital IQ wanted to see net sales of $364.4 million on the same basis. GAAP reported sales were 7.3% lower than the prior-year quarter's $376.0 million.

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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 $0.32. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. GAAP EPS of $0.31 for Q1 were 3.1% lower than the prior-year quarter's $0.32 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 52.4%, 10 basis points better than the prior-year quarter. Operating margin was 19.6%, 70 basis points worse than the prior-year quarter. Net margin was 13.8%, 20 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $381.7 million. On the bottom line, the average EPS estimate is $0.36.

Next year's average estimate for revenue is $1.56 billion. The average EPS estimate is $1.64.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 798 members out of 824 rating the stock outperform, and 26 members rating it underperform. Among 153 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 151 give FLIR Systems a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FLIR Systems is hold, with an average price target of $29.31.

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. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.