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 technical service company Furmanite (NYSE:FRM) dropped as much as 13.5% today after the company reported earnings. At the close of trading, shares had recovered to just a 4.8% decline on the day.

So what: Third-quarter revenue was up 32% from a year ago to $99.5 million and net income swung from a loss to a profit of $2.1 million, or $0.06 per share. The only analyst covering the stock expected $96.0 million in revenue and earnings of $0.07 per share, so results are mixed versus those expectations.  

Now what: Management did keep earnings guidance of $0.44 to $0.48 per share intact, so that's positive for investors. I think the sell-off definitely got ahead of itself because Furmanite is just starting to see operational improvements put in place by management. There's clearly a lot of upside from expanding margins and, at 22 times the top end of this year's estimate, I think shares have upside as operations improve.

Fool contributor Travis Hoium has no position in any stocks mentioned, and neither does The Motley Fool. 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.