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 Gorman-Rupp (AMEX: GRC) surged as much as 11% in early trading and remain up more than 8% as of this writing. The Ohio-based maker of pumps and other fluid control products easily exceeded Wall Street's expectations in reporting fourth-quarter results.

So what: Revenue soared 36% to $84.7 million. Profit more than doubled to $0.57 per share. Analysts were calling for $75.3 million and $0.36, respectively.

Now what: From what I can tell, this move is exactly what it looks like: investors expressing enthusiasm for a company executing much better than anyone on Wall Street expected and getting its just rewards as a result.

The move has to be especially sweet for the co-founding Gorman family, which still owns 26% of the business through CEO Jeff Gorman and Chairman James C. Gorman. Well done, sirs.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. 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 is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.