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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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Cirrus Logic. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.