Triangle Petroleum (AMEX: TPLM) reported earnings on Dec. 10. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Oct. 31 (Q3), Triangle Petroleum beat expectations on revenues and beat expectations on earnings per share.

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

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

Revenue details
 Triangle Petroleum logged revenue of $23.2 million. The seven analysts polled by S&P Capital IQ expected revenue of $20.4 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $3.5 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 $0.02. The seven earnings estimates compiled by S&P Capital IQ averaged $0.01 per share. GAAP EPS were $0.02 for Q3 versus -$0.05 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 50.2%, 3,320 basis points worse than the prior-year quarter. Operating margin was 5.5%, 7,000 basis points better than the prior-year quarter. Net margin was 4.3%, 6,520 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $29.7 million. On the bottom line, the average EPS estimate is $0.07.

Next year's average estimate for revenue is $65.3 million. The average EPS estimate is $0.00.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 89 members out of 93 rating the stock outperform, and four members rating it underperform. Among 14 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 12 give Triangle Petroleum 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 Triangle Petroleum is outperform, with an average price target of $9.94.

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