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 material science company Landec (NASDAQ:LNDC) dropped as much as 13% today after the company reported fiscal first quarter earnings.  

So what: Revenue rose 7% to $109.5 million, which topped Wall Street expectations of $108.6 million. The problem is that not enough of that extra revenue flowed to the bottom line and net income only rose 9% to $4.8 million, or $0.18 per share, versus an expectation of $0.23.  

Now what: Management said that about $0.06 per share, or the entire earnings miss, was shifted from the first quarter to later in the year in relation to its Windset investment. I don't think this miss really changes the long-term investment thesis, especially when you consider the strong revenue figure. If you've been eyeing shares I think today is the perfect buying opportunity, especially for a company trading at just 11.5 times forward estimates.

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Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.