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 retail security specialist Checkpoint Systems (NYSE: CKP) sank 10% in intraday trading Tuesday after its first-quarter results came in well below Wall Street expectations.

So what: Hurt by rising costs associated with new product launches, Checkpoint posted a surprise quarterly loss of $8.2 million, or $0.20 per share, versus the average analyst estimate of an $0.11-per-share profit. The company's first-quarter revenues of $184.7 million also represented a year-over-year decline, so Mr. Market might be concerned that longer-term demand issues are at work.

Now what: I'd look into this plunge as a possible buying opportunity. While today's results weren't ideal, Checkpoint's margins should improve in the current quarter as it looks to steadily raise prices on those recently introduced products. In fact, despite the setback, management even reaffirmed its full-year guidance, making the stock's sub-15 forward P/E all the more attractive.

Interested in more info on Checkpoint? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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