Palomar Medical Technologies (Nasdaq: PMTI) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Palomar Medical Technologies 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 increased to zero. GAAP loss per share contracted.

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

Revenue details
Palomar Medical Technologies reported revenue of $23.2 million. The two analysts polled by S&P Capital IQ expected to see revenue of $20.3 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $19.0 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 two earnings estimates compiled by S&P Capital IQ predicted -$0.01 per share. Non-GAAP EPS dropped to zero from the prior-year quarter's $0.00. GAAP EPS were -$0.06 for Q1 compared to -$0.12 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 56.3%, 100 basis points worse than the prior-year quarter. Operating margin was -4.0%, 820 basis points better than the prior-year quarter. Net margin was -4.8%, 730 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $21.1 million. On the bottom line, the average EPS estimate is $0.03.

Next year's average estimate for revenue is $88.6 million. The average EPS estimate is $0.18.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 499 members out of 529 rating the stock outperform, and 30 members rating it underperform. Among 133 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 127 give Palomar Medical Technologies 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 Palomar Medical Technologies is hold, with an average price target of $11.00.

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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. The Motley Fool has no position in any of the stocks mentioned. 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.