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 LED maker Revolution Lighting Technologies (NASDAQ:RVLT) jumped 21% today after the company reported third-quarter earnings.

So what: Revenue jumped 308%, to $5.3 million, and net loss grew to $3.1 million. That's a small revenue base, but it's a big step in the right direction for a company in a high-potential industry. 

Management sees fourth-quarter revenue increasing to about $10 million next quarter, and organic growth of 50% next year, with gross margins of 35%.

Now what: It's the rosy outlook that has investors excited. LEDs have been a high-potential market for years, but it looks like costs are now finally coming down to a level where we may see some traction. Revolution Lighting still has a long way to go to justifying a $262 million market cap; but if it can keep up growth rates and margins like this, it may just get there.

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.