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 Sanmina Corp (NASDAQ:SANM) jumped more than 14% Wednesday after the integrated manufacturing solutions specialist turned in solid fiscal second-quarter results.

So what: Quarterly revenue rose 3.5%, to $1.48 billion, which translated to adjusted earnings per diluted share of $0.44. Analysts, on average, were looking for earnings of just $0.39 per share on sales of $1.45 billion.

In addition, Sanmina expects fiscal third-quarter revenue between $1.50 billion and $1.60 billion, with adjusted earnings per diluted share between $0.45 and $0.49. Analysts were modeling current quarter earnings of $0.43 per share on sales of $1.51 billion.

Now what: Sanmina chairman and CEO Jure Sola added: "We continue to invest in technology and business processes which offer a distinct advantage to our customers.  As we further diversify our business, we believe our revenue and profitability will continue to improve."

This is Sanmina's second-consecutive earnings beat, and shares have risen more than 25% so far in 2014. Even so, the stock still looks relatively cheap trading at less than 0.3 times last year's sales, and only 11.5 times next year's earnings estimates. If Sanmina can continue making strides in profitability even as revenue creeps along, I see no reason the stock can't continue rewarding patient long-term shareholders from here.