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 filtration equipment specialist Pall (NYSE: PLL) climbed 10% on Friday after its first-quarter results topped Wall Street expectations.

So what: Restructuring charges weighed on Pall's bottom line, but solid sales -- top-line jumped 16.5% to $705.6 million -- show that the company continues to grow despite the weak economy. In fact, the quarter marks the fifth-straight in which Pall has posted double-digit revenue growth. 

Now what: Expect the momentum to continue in the short term. "We are encouraged by the strength of orders in the quarter, an indication of continued growth in a mixed environment," CEO Larry Kingsley said. Of course, with a historically much higher cost structure than gorilla rivals like General Electric (NYSE: GE) and 3M (NYSE: MMM), Pall's long-term appeal remains less than ideal.

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

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.