Advantage Oil & Gas (NYSE: AAV) reported earnings on March 26. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Advantage Oil & Gas crushed expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP loss per share dropped. GAAP loss per share dropped.

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

Revenue details
 Advantage Oil & Gas logged revenue of $74.7 million. The one analyst polled by S&P Capital IQ expected a top line of $41.2 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $77.7 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 -$0.35. The two earnings estimates compiled by S&P Capital IQ forecast -$0.04 per share. Non-GAAP EPS were -$0.35 for Q4 against -$0.86 per share for the prior-year quarter. GAAP EPS were -$0.36 for Q4 against -$0.86 per share for the prior-year quarter.

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 66.6%, 590 basis points worse than the prior-year quarter. Operating margin was -35.1%, much better than the prior-year quarter. Net margin was -90.5%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $46.0 million. On the bottom line, the average EPS estimate is -$0.04.

Next year's average estimate for revenue is $126.4 million. The average EPS estimate is $0.00.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 571 members out of 599 rating the stock outperform, and 28 members rating it underperform. Among 88 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 84 give Advantage Oil & Gas a green thumbs-up, and four give it a red thumbs-down.

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