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 alternative fuel component provider Fuel Systems Solutions (Nasdaq: FSYS) fell as much as 15% this morning after the company released earnings.

So what: The company reported a loss per share of $0.02 on a day when analysts were expecting a profit of $0.10, so the disappointment is justified. Revenue guidance didn't help the cause, coming in at $375 million to $400 million, when analysts expected $402.3 million.

Now what: As oil prices rise, Fuel Systems Solutions would seemingly be in a sweet spot as we look for alternative fuels, but the 2011 revenue outlook doesn't include much optimism. I am most concerned by a steady decline in profits over the last year ending in a loss in the fourth quarter. I just don't see a reason to jump on today's move since the stock trades with an 18.6 forward P/E multiple. Not great value with earnings on the decline.

Interested in more info on Fuel Systems Solutions? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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.