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 outsourcing company Sykes Enterprises (Nasdaq: SYKE) jumped 10% this morning after the company released earnings.

So what: Revenue increased 16.3% to $310.2 million, topping analyst estimates of $302 million in revenue. Earnings followed suit, hitting an adjusted $0.35 per share, well above the $0.27 expectation.

Now what: The ICT acquisition helped results this quarter and if we excluded the acquisition, operating margins would have declined 3.3%. Management is seeing improved demand from customers, which should help offset ending contracts with some customers. The full-year outlook is now for adjusted earnings per share of $1.43 to $1.53, putting shares at a reasonable 14 forward P/E multiple at the top end of that range.

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