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 little-known Ixia (Nasdaq: XXIA) soared as much as 13%, after the company reported market beating fourth-quarter results last night.

So what: Ixia posted $0.18 per share in adjusted profits on $77.8 million in revenue, a record for the company and a 39% increase over last year’s Q4. Analysts were expecting $0.17 and $74.8 million, respectively. Clearly, this is a growth story in the making.

Now what: But is it a sustainable story, one in which tech investors should take interest? There’s room for debate. On the one hand, Ixia’s technology is useful for testing the equipment behind the new generation of wireless LTE networks now being built by the likes of AT&T (NYSE: T) and Verizon (NYSE: VZ).

On the other hand, Ixia suffered three years of nonexistent growth from 2007 to 2009. Which is the real Ixia? I suspect a lot of that depends on the spending habits of LTE network builders. Rather than buy Ixia shares at current prices, I’d wait to see whether the LTE builders keep spending.

Interested in more info on Ixia? Add it to your watchlist. You can also try any of our Foolish newsletter services free for 30 days.

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. 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 is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.