Mitcham Industries (Nasdaq: MIND) is expected to report Q1 earnings on June 4. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Mitcham Industries's revenues will contract -13.6% and EPS will wane -22.2%.

The average estimate for revenue is $29.9 million. On the bottom line, the average EPS estimate is $0.49.

Revenue details
 Last quarter, Mitcham Industries reported revenue of $28.4 million. GAAP reported sales were 23% lower than the prior-year quarter's $37.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, EPS came in at $0.26. GAAP EPS of $0.26 for Q4 were 66% lower than the prior-year quarter's $0.77 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 30.9%, much worse than the prior-year quarter. Operating margin was 9.7%, much worse than the prior-year quarter. Net margin was 12.0%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $115.8 million. The average EPS estimate is $1.40.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 335 members out of 342 rating the stock outperform, and seven members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 give Mitcham Industries a green thumbs-up, and give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mitcham Industries is outperform, with an average price target of $18.25.

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