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: Sanmina-SCI (Nasdaq: SANM) popped 22% in intraday trading today after reporting better-than-expected earnings.

So what: Non-GAAP EPS of $0.42 beat the $0.35 consensus estimate and grew 31% year over year. Revenue grew 3% year over year to $1.67 billion.

Now what: A debt refinancing during the quarter is expected to reduce the company's net interest expense in the future, though management didn't indicate by what amount. Year-to-date net interest expense of $90.0 million has been a substantial hit on operating income of $158.5 million. The CEO noted that Sanmina-SCI saw continued softness in the defense and aerospace market, but, based on customer forecasts, he believes short-term demand remains stable. For the current quarter, management guided to non-GAAP EPS of $0.40 to $0.42; the consensus estimate is $0.42.

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Fool contributor Cindy Johnson does not own shares of any company named above. 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.