Northern Oil and Gas (AMEX: NOG) reported earnings on Feb. 28. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Northern Oil and Gas beat slightly on revenues and beat expectations on earnings per share.

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

Gross margins contracted, operating margins grew, net margins grew.

Revenue details
 Northern Oil and Gas chalked up revenue of $84.7 million. The seven analysts polled by S&P Capital IQ expected a top line of $83.1 million on the same basis. GAAP reported sales were 53% higher than the prior-year quarter's $53.3 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 $0.34. The 12 earnings estimates compiled by S&P Capital IQ averaged $0.27 per share. Non-GAAP EPS of $0.34 for Q4 were 62% higher than the prior-year quarter's $0.21 per share. GAAP EPS were $0.31 for Q4 compared to -$0.03 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 78.6%, 520 basis points worse than the prior-year quarter. Operating margin was 40.9%, much better than the prior-year quarter. Net margin was 23.9%, much better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $86.3 million. On the bottom line, the average EPS estimate is $0.26.

Next year's average estimate for revenue is $393.6 million. The average EPS estimate is $1.23.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 584 members out of 645 rating the stock outperform, and 61 members rating it underperform. Among 98 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give Northern Oil and Gas a green thumbs-up, and 18 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Northern Oil and Gas is outperform, with an average price target of $24.36.

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