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 Exlservice Holdings (NASDAQ:EXLS) got crushed today by as much as 12%, after the company reported earnings results.

So what: Revenue in the third quarter rose 13%, to $112.6 million, resulting in adjusted earnings per share of $0.42. On a constant currency basis, that translated into revenue growth of 17%. CEO Rohit Kapoor also said that EXL scored a new strategic client account with a leading specialty insurer.

Now what: EXL landed six new clients during the quarter, including three transformational clients and three outsourcing clients. The company also updated its full-year 2012 outlook, now expecting revenue in the range of $442 million and $444 million. That should translate into adjusted earnings per share of $1.54 to $1.57, accounting for a rupee to dollar exchange rate of 53.5, as well as the recent acquisition of Landacorp.

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