Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of energy and mining supplier Flotek Industries (NYSE:FTK) fell 14% in early trading, after reporting earnings.

So what: Revenue rose 4.7% in the quarter, to $78.6 million, but net income dropped by 45%, to $0.19 per share. Analysts expected earnings of $0.21, so they were a little disappointed by the results.

Now what: It's been a tough quarter across the board in the sector, and many suppliers have performed even worse than Flotek. The challenge is that energy prices are low, so explorers aren't drilling at the rate they once were. I'd take a slightly cautious approach but, with shares trading at 10 times forward earnings estimates, I don't think that it's time to panic.

Interested in more info on Flotek? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw

The Motley Fool has no positions in the stocks mentioned above. 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.