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 Allot Communications Ltd (NASDAQ:ALLT) rose more than 10% early Wednesday, then settled to close up around 8% after the company named a new CEO and released solid first-quarter results.

So what: Adjusted quarterly revenue increased 17.2% year over year to $28.3 million, which translated to adjusted net earnings of $0.06 per share. Analysts, on average, were looking for earnings of $0.06 per share on sales of $26.06 million.

Allot also announced its CEO, Rami Hadar, will retire during the second quarter of 2014. He will be replaced by Andrei Elefant, who has worked with the company for eight years and currently serves as its VP of product management and marketing.

Now what: On Allot's first-quarter performance, Hadar added, "Our well-diversified, differentiated VAS offering is one of the key catalysts for the demand that we experience from service providers and we look forward to continuing to address the needs of our Tier-1 customers with our innovative service generating VAS suite."

The market doesn't seem to mind the management change for Allot, which is still a relatively small business with a market cap under $500 million. And even after today's pop, shares still sit down 10% year to date, and around 24% off their 52-week highs. If Allot can keep marching toward sustained profitability on a GAAP basis, I see no reason the stock won't be able to continue rewarding patient shareholders from here.

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Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.