RigNet (Nasdaq: RNET) reported earnings on May 6. Here are the numbers you need to know.

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

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

Margins shrank across the board.

Revenue details
 RigNet booked revenue of $52.8 million. The four analysts polled by S&P Capital IQ anticipated sales of $50.4 million on the same basis. GAAP reported sales were 69% higher than the prior-year quarter's $31.2 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 $0.22. The five earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. GAAP EPS of $0.22 for Q1 were 57% higher than the prior-year quarter's $0.14 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 44.9%, 970 basis points worse than the prior-year quarter. Operating margin was 11.7%, 400 basis points worse than the prior-year quarter. Net margin was 7.1%, 60 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $52.9 million. On the bottom line, the average EPS estimate is $0.26.

Next year's average estimate for revenue is $217.2 million. The average EPS estimate is $1.07.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RigNet is buy, with an average price target of $26.25.

Is RigNet the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.