Cobra 2002 Annual Report Download - page 14

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12฀ C O B R A ฀ E L E C T R O N I C S ฀ C O R P O R AT I O N
2 0 0 2 ฀ A N N U A L ฀ R E P O R T ฀ ฀ ฀ ฀ 13
฀ Years฀ended฀December฀31,
(In฀thousands,฀except฀per฀share฀amounts)฀ 2002฀ 2001฀ 2000
Net฀sales฀ $฀135,840฀฀ $฀150,031฀฀ $฀143,204฀
Cost฀of฀sales฀ ฀ 101,563฀฀ ฀ 111,042฀฀ ฀ 103,783
฀฀฀฀฀฀ Gross฀prot฀ ฀ 34,277฀฀ ฀ 38,989฀฀ ฀ 39,421
Selling,฀general฀and฀administrative฀expense฀ ฀ 31,074฀฀ ฀ 28,404฀฀ ฀ 26,600
Expenses฀for฀the฀terminated฀Lowrance฀acquisition฀ ฀ –฀ ฀฀ ฀ 1,402฀฀ ฀ –฀
Operating฀income฀ ฀ 3,203฀฀ ฀ 9,183฀฀ ฀ 12,821
Other฀income฀(expense):
฀฀฀฀฀฀ Interest฀expense฀ ฀ (228฀)฀ ฀ (787฀)฀ ฀ (889฀)
฀฀฀฀฀฀ Other฀income฀(expense),฀net฀ ฀ 91฀฀ ฀ (117฀)฀ ฀ (611฀)
Income฀before฀income฀taxes฀ ฀ 3,066฀฀ ฀ 8,279฀฀ ฀ 11,321
Tax฀provision฀ ฀ 1,346฀฀ ฀ 3,594฀฀ ฀ 4,132
Net฀income฀ $฀ 1,720฀฀ $฀ 4,685฀฀ $฀ 7,189
Net฀income฀per฀common฀share:
฀฀฀฀฀฀ Basic฀ $฀ 0.27฀฀ $฀ 0.75฀฀ $฀ 1.17
฀฀฀฀฀฀ Diluted฀ $฀ 0.26฀฀ $฀ 0.73฀฀ $฀ 1.12
Weighted฀average฀shares฀outstanding:
฀฀฀฀฀฀ Basic฀ ฀ 6,373฀฀ ฀ 6,236฀฀ ฀ 6,142
฀฀฀฀฀฀ Diluted฀ ฀ 6,505฀฀ ฀ 6,403฀฀ ฀ 6,394
Consolidated฀Statements฀of฀Income