Cobra 2004 Annual Report Download - page 17
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Please find page 17 of the 2004 Cobra annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.2 0 0 4 A N N U A L R E P O R T 15
QuarterEnded
Inthousands,except March31 June30 September30 December31
pershareamounts 2004 2003 2004 2003 2004 2003 2004 2003
Netsales $22,666 $20,554 $25,186 $26,622 $31,014 $26,304 $44,010 $41,331
Costofsales(a) 17,525 15,440 18,351 18,866 22,874 19,232 31,901 30,618
Grossprofit 5,141 5,114 6,835 7,756 8,140 7,072 12,109 10,713
Selling,generaland
administrativeexpense(b) 5,919 5,810 6,057 7,057 7,312 6,615 9,049 8,033
Operatingincome(loss) (778) (696) 778 699 828 457 3,060 2,680
Taxprovision(benefit)(c) (309) (306) 285 272 335 261 1,186 1,075
Netearnings(loss) (542) (453) 501 407 571 391 1,851 1,496
Netearnings(loss)pershare(d):
Basic (0.08) (0.07) 0.08 0.06 0.09 0.06 0.29 0.23
Diluted (0.08) (0.07) 0.08 0.06 0.09 0.06 0.28 0.23
Weightedaverage
sharesoutstanding:
Basic 6,423 6,420 6,445 6,420 6,445 6,420 6,445 6,420
Diluted 6,630 6,479 6,625 6,487 6,559 6,506 6,589 6,511
StockPrice:
High 11.540 7.200 9.250 7.100 8.920 7.340 9.250 7.560
Low 7.400 5.840 8.110 5.950 6.020 5.760 7.020 6.250
EndofQuarter 8.151 6.020 9.050 6.930 7.210 6.840 8.110 7.550
TradingVolume 2,113 388 559 845 531 550 706 644
(a)Thefourthquarterof2004included$614,000ofincreasedamortizationexpenseassociatedwithachangeinestimatedeconomicusefullifeforcertain
handheldGPSintangibleassets.
(b)Thefourthquarterof2004includedareductionof$308,000intheallowancefordoubtfulaccountsbasedontheCompany’swrite-offhistoryinthe
lastfiveyearsandspecificallyidentifiedaccountsthatmightbeatrisk.
(c)Incometaxexpenseinthefourthquarterof2004reflecteda$207,000valuationallowanceforthedeferrednetoperatinglosscarry-forwardtaxasset
relatedtoCobraElectronicsEuropeLimited.
(d)Thesumofthequarterlynetearningspershareamountsmaynotequaltheannualamountbecausenetearningspersharearecalculatedindependently
foreachquarter.
Q U A R T E R LY F I N A N C I A L D ATA