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 cyber security company The KEYW Holding Corporation (NASDAQ:KEYW) dropped 10% today, after releasing earnings.

So what: Revenue jumped 48%, to $74.2 million, and net income declined slightly to $0.2 million, or break even per share. The problem today is that analysts expected revenue of $76.2 million and a profit of $0.01 per share, so both numbers missed estimates.  

Now what: When you're close to breaking even, an earnings miss by even the smallest amount can disappoint investors. The company did say that acquisition-related intangibles and other one-time expenses had a negative impact on earnings of $0.11, so the numbers may improve going forward. I'd like to see some bottom-line results before jumping in, especially with the company so close to losing money.

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