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 Harry Potter publisher Scholastic Corporation (Nasdaq: SCHL) jumped 10% today after the company released earnings.

So what: Revenues rose slightly to $545.8 million but easily topped the $511 million analysts had expected. Earnings per share of $0.82 from continuing operations also beat the $0.76 analysts had expected.

Now what: This ends fiscal 2011 and the publisher expects 2012 revenues to be between $1.9 billion and $1.91 billion, while earnings per share should be between $1.75 and $2.10. At the high end of that range shares would be priced at 13.7 times earnings. That is a little more than I’d like for a company with little to no growth, but if shares pull back in coming days these results may help make them look more attractive.

Interested in more info on Scholastic Corporation? 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.