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.