Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big chang es -- just in case they're material to our investing thesis.

What: Shares of eye-in-the-sky DigitalGlobe (NYSE: DGI) were located at a lower price today as shares slipped as much as 10% after the company reported fourth-quarter earnings.

So what: After yesterday's close, DigitalGlobe released results for the fourth quarter that weren't exactly what investors were hoping for. Revenue of $83.6 million grew 15% from the prior year, but was just shy of projections. Earnings per share of $0.03 didn't measure up either, as Wall Street was looking for $0.05. On the bright side, the company mentioned that it continued to build out its presence in China by signing new contracts with China Mobile (NYSE: CHL), YF International, and Hazens.

Now what: Looking ahead, DigitalGlobe will have to hit the high end of its guidance ranges to appease Wall Street in 2011. The company expects to report revenue of $345 million to $365 million and EPS of $0.20 to $0.40. Analysts had estimated $0.37 in per-share profit on $363 million in revenue. It appears that the news was initially a big disappointment to investors, but after digesting it further they tempered their pessimism. As of this writing, the stock had recovered to a 4.5% loss.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.