Shares of electronics manufacturer Methode Electronics (NYSE: MEI) popped this morning. The single analyst estimate available pointed to earnings of $0.10 per share on about $101 million of sales, which Methode surpassed with $0.16 of earnings per share on $101.3 million in revenue.

That's 14% year-over-year sales growth and a reversal from a $0.12 loss per share a year ago. In other words, the stock richly deserves the 8% price pop it saw on the news.

Methode could use some good news for once. Industry peers such as Molex (Nasdaq: MOLX), Thomas & Betts (NYSE: TNB), and AVX (NYSE: AVX) have all delivered 25% returns or better over the past year, while Methode has been stuck in the red -- even after this quick boost.

The builder of automotive and industrial parts is underfollowed and operates in a very unsexy industry, making the small-cap stock a potential multibagger in the making. That is, Methode's stock could take off if the company really deserves closer scrutiny and the market eventually catches on to Methode's hidden promise.

It could happen. This quarter may have ended a slump that started in 2008. The company is growing sales after shrinking them for a couple of years, expanding rather than deflating margins, and generally looking like a turnaround story about to happen. It doesn't hurt that Methode has signed on to build touchscreen interfaces based on Atmel (Nasdaq: ATML) chips, effectively riding the coattails of that recent market darling.

Will Methode parlay this fine quarter into continued gains, or will the pop fizzle and fade? Add Methode Electronics to your free, personalized watchlist to stay on top of the story.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.