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 Furmanite Corporation (NYSE:FRM) have lost 10% of their value today after the company reported fourth-quarter earnings that fell far below analyst estimates.

So what: Furmanite's fourth-quarter revenue came in at $130.4 million, a 40% year-over-year improvement, and its earnings were $0.07 per share, compared to just $0.03 per share from the year-ago quarter. However, analysts had sought $133 million on the top line and $0.16 in EPS, so the bottom-line result was far weaker than what Wall Street was looking for. Furmanite's annual results of $427.3 million on the top line and $0.37 in EPS also came in below the consensus, which sought $429.3 million in revenue and $0.47 in EPS.

Furmanite now projects full-year earnings for fiscal 2014 to fall in the range of $540 million to $560 million, and anticipates full-year EPS in a range of $0.52 to $0.57. This is a disappointment compared to analyst expectations of $555.1 million in revenue and $0.62 in EPS for 2014, but it does represent growth of 29% on the top line and 47% on the bottom line, which is really nothing to sneeze at.

Now what: Furmanite's shares had already enjoyed a near-double before this earnings report, and its forward P/E now stands at roughly 19 after today's drop and the company's new guidance range are taken into account. That's really quite reasonable for a company pegging itself to such a strong year-over-year earnings growth rate, and investors seem to be coming around to this idea already, as Furmanite's shares have been rebounding since shortly before noon. You might want to dig a little deeper into this small cap, as it could be a worthwhile growth opportunity.

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Alex Planes 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.