Mitcham Industries (Nasdaq: MIND) reported earnings on June 4. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended April 30 (Q1), Mitcham Industries missed estimates on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue shrank significantly. GAAP earnings per share contracted significantly.

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

Revenue details
 Mitcham Industries reported revenue of $27.3 million. The four analysts polled by S&P Capital IQ looked for a top line of $29.5 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $34.6 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 $0.48. The four earnings estimates compiled by S&P Capital IQ anticipated $0.49 per share. GAAP EPS of $0.48 for Q1 were 24% lower than the prior-year quarter's $0.63 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 53.5%, 470 basis points better than the prior-year quarter. Operating margin was 30.0%, 370 basis points worse than the prior-year quarter. Net margin was 23.1%, 130 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $21.9 million. On the bottom line, the average EPS estimate is $0.03.

Next 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 67 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 67 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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