Forest Laboratories (NYSE: FRX) reported earnings on July 23. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q1), Forest Laboratories beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share didn't move. GAAP earnings per share dropped significantly.

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

Revenue details
 Forest Laboratories chalked up revenue of $832.9 million. The 14 analysts polled by S&P Capital IQ looked for sales of $808.7 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.28. The 20 earnings estimates compiled by S&P Capital IQ forecast $0.09 per share. Non-GAAP EPS of $0.28 were the same as the prior-year quarter. GAAP EPS of $0.09 for Q1 were 57% lower than the prior-year quarter's $0.21 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 80.1%, 70 basis points better than the prior-year quarter. Operating margin was 4.6%, 420 basis points worse than the prior-year quarter. Net margin was 2.8%, 400 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $841.6 million. On the bottom line, the average EPS estimate is $0.15.

Next year's average estimate for revenue is $3.46 billion. The average EPS estimate is $0.88.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Forest Laboratories is outperform, with an average price target of $39.05.