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 workplace-furnishings manufacturer Knoll (NYSE: KNL) surged in intraday trading today, gaining as much as 17% after the company announced fourth-quarter results.

So what: The economic recovery has been painfully slow, but conditions improved enough to help significantly boost Knoll's business. For the fourth quarter, the company saw revenue jump 30% from last year, and a minimal increase in expenses led to a hefty 112% jump in operating profit. Total revenue of $240 million bested the average analyst estimate of $217 million, while adjusted per-share profit of $0.26 topped the $0.22 that was expected.

Now what: The fourth quarter was a high note for what wasn't a particularly stellar year as revenue crept up 4% while operating profit increased 2%. However, the results were a relief after a tough 2009 that saw both revenue and profits tumble. Looking ahead to 2011, the company didn't provide formal guidance in its earnings release, but its backlog of $197 million, which was up 29% from the prior year, suggests demand is continuing to rebound.

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