Cirrus Logic (Nasdaq: CRUS) reported earnings on July 25. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 29 (Q1), Cirrus Logic missed estimates on revenues and beat expectations on earnings per share.

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

Gross margins contracted, operating margins expanded, net margins grew.

Revenue details
 Cirrus Logic tallied revenue of $155.1 million. The nine analysts polled by S&P Capital IQ expected revenue of $160.4 million on the same basis. GAAP reported sales were 57% higher than the prior-year quarter's $99.0 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 $0.56. The eight earnings estimates compiled by S&P Capital IQ predicted $0.50 per share. Non-GAAP EPS of $0.56 for Q1 were 155% higher than the prior-year quarter's $0.22 per share. GAAP EPS of $0.31 for Q1 were 210% higher than the prior-year quarter's $0.10 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 51.2%, 280 basis points worse than the prior-year quarter. Operating margin was 20.3%, 970 basis points better than the prior-year quarter. Net margin was 13.3%, 630 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $184.5 million. On the bottom line, the average EPS estimate is $0.56.

Next year's average estimate for revenue is $742.5 million. The average EPS estimate is $2.28.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 937 members out of 967 rating the stock outperform, and 30 members rating it underperform. Among 194 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 188 give Cirrus Logic 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 Cirrus Logic is outperform, with an average price target of $20.67.

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