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 forestry parts maker Blount International Inc (UNKNOWN:BLT.DL) dropped as much as 19% today after reporting fourth-quarter earnings results.

So what: Sales increased 7% to $232.2 million and net loss improved from a $21.5 million loss a year ago to a $2.4 million loss, or $0.05 per share. Revenue was well ahead of the $212.5 million analysts expected but earnings fell below the $0.20 profit they were expected to make.  

Also falling short of expectations were sales in the company's 2015 outlook, which are expected to fall 2% to $925 million. Adjusted EBITDA and free cash flow are also expected to fall slightly to $137.5 million and $45 million respectively.

Now what: A strong dollar is expected to impact sales and profits in 2015, a theme we're hearing across corporate America. Still, it isn't encouraging that growth is expected to stall next year, especially with shares trading at 18 times 2014's earnings. I don't see enough value to jump in today and would like a return to growth or better value before getting bullish on Blount's shares.