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 electric motor and generator manufacturer Regal-Beloit (NYSE: RBC) were revving higher by as much as 12% earlier in the trading session following the company's fourth-quarter earnings results.

So what: Regal-Beloit was able to woo investors with some acquisition-related year-over-year comparisons, but they nonetheless seem to like what they're seeing. Fourth-quarter sales jumped 31% to $727 million -- in line with consensus expectations -- but it was the company's $0.23 EPS beat that has everyone excited. Regal-Beloit also forecast fiscal 2012 EPS in the range of $1.07 to $1.13 versus the current S&P Capital IQ estimate of $1.07.

Now what: The key to understanding Regal-Beloit is that its strategy involves growth by acquisition. Strip out its recent purchases and its growth rate drops dramatically. Still, with more acquisitions on the horizon and the company valued at a very reasonable 12 times forward earnings, it could have some room left to move higher. Definitely one I'd consider adding to my watchlist.

Craving more input? Start by adding Regal-Beloit to your free and personalized watchlist so you can keep track of the latest news with the company.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.