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 Ultratech (Nasdaq: UTEK) popped by upwards of 12% after the company reported first-quarter earnings.

So what: Revenue rose by 5% to $49.6 million, while earnings added up to $0.38 per share. Sales narrowly topped the $47.5 million expectation, while profits posted a healthy beat compared with the $0.28 estimate.

Now what: CEO Arthur Zafiropoulo cited strong performance in the company's 28-nanometer laser annealing products and said the company also benefited from increasing production capacity in its Singapore facility. Systems sales remained the bulk of revenue, with parts, service, and license playing smaller roles. The company finished off the quarter with $239.1 million in cash and equivalents on the books.

Interested in more info on Ultratech? Add it to your Watchlist.

Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.