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 discount flooring specialist Lumber Liquidators (NYSE:LL) soared as much as 14% after its first-quarter results handily topped Wall Street's estimates.

So what: For the quarter, Lumber Liquidators reported sales growth of 23% to $230.4 million as gross margin jumped 310 basis points to 40.4% and EPS improved to $0.57. Wall Street forecasts had only called for $0.42 in EPS on $215.5 million in revenue. Also, net same-store sales catapulted 15.2% higher as its product costs decreased and its pricing power improved. Furthermore, it boosted its full-year sales, same-store sales, and EPS forecast well above its own previous projections. The company is now looking for full-year EPS of $2.10-$2.35, revenue of $913 million to $942 million, and same-store sales growth of mid-to-high single digits.

Now what: There is a clear reason why CEO Robert Lynch was chosen by The Motley Fool community as CEO of the year in 2012 -- he delivers! Lynch's ongoing plan to emphasize the price point and value of Lumber Liquidators' products, while cutting out middleman costs and broadening its advertising market to hit individuals and contractors is working marvelously. The company is going to have some very tough comparisons come next year, but in the meantime, it's hitting on all cylinders.

Craving more input? Start by adding Lumber Liquidators to your free and personalized Watchlist so you can keep up on the latest news with the company.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

The Motley Fool owns shares of, and recommends, Lumber Liquidators. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.