Impax Laboratories (Nasdaq: IPXL) reported earnings on May 1. Here are the numbers you need to know.

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

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

Gross margins dropped, operating margins dropped, net margins grew.

Revenue details
 Impax Laboratories tallied revenue of $148.5 million. The 13 analysts polled by S&P Capital IQ predicted a top line of $127.7 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $128.6 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 $0.37. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.20 per share. Non-GAAP EPS of $0.37 for Q1 were 29% lower than the prior-year quarter's $0.52 per share. GAAP EPS of $1.55 for Q1 were much higher than the prior-year quarter's $0.18 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 39.0%, 970 basis points worse than the prior-year quarter. Operating margin was 5.8%, much worse than the prior-year quarter. Net margin was 71.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $117.2 million. On the bottom line, the average EPS estimate is $0.06.

Next year's average estimate for revenue is $477.0 million. The average EPS estimate is $0.34.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 159 members out of 172 rating the stock outperform, and 13 members rating it underperform. Among 46 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Impax Laboratories 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 Impax Laboratories is hold, with an average price target of $18.70.