Cobra 2000 Annual Report Download - page 5

3
James R. Bazet (left),
President and
Chief Executive Officer;
Carl Korn,
Chairman of the Board
and Best Buy to our list of top-tier domestic
outlets for FRS. Also, Cobra  Band radar
detectors quickly became Best Buy’s top-
selling detection line. Other leading retailers
carrying Cobra products include Circuit
City, CompUSA, Kmart, Office Depot,
OfficeMax, Sears, Staples and Wal-Mart, just
to name a few.
The new Cobra has wide inter-
national reach. At year-end ,
Cobra’s valuable brand stretched across
 countries in North America and
Europe. In , we established our
European headquarters, Cobra Elec-
tronics Europe Limited, in Dublin,
Ireland. We believe demand for our
products overseas is abundant and
growing.
The Future
T he new Cobra has an exciting future.
Our transformation, culminating in
our strong  performance, has
positioned us to seize profitable growth
opportunities in  and beyond. We have
barely begun to unleash our company’s full
potential. We are always examining new
product categories where Cobra’s marketing
and distribution strengths can be exploited
to provide the company with a number one
or strong number two position.
In addition, our unleashing can be further
spurred ahead through our acquisition
strategy. To qualify, a potential candidate
must fit each of our acquisition criteria:
•Market leadership – must be number one
or a strong number two in markets in which
it competes.
• Superior technology – must be a technology
leader with a strong dedication to
innovation.
•Distribution strength – must have distri-
bution capabilities that complement
Cobra’s existing channels and enable cross-
channel product sales and marketing.
• Enhanced financial strength – must add to
our top and bottom line growth, and
strengthen the balance sheet.
We continually explore acquisition possi-
bilities. Our increased size and profitability
afford us the opportunity to review a wider
range of companies. Be assured, when we
complete an acquisition, it will be to the long-
term benefit of Cobra’s shareholders.
Meanwhile, we will continue our relentless
focus on our internal growth strategies:
•Develop leadership positions in comple-
mentary markets
•Extend our distribution
•Expand internationally
As we transformed and grew our business,
we identified unique attributes that point to
our continued success: our flexible market
responsiveness; our “develop or die” approach
to R&D and product development; our
aggressive management style; and our com-
mitment to create value for our shareholders.
We invite you to join our enthusiasm in
Cobra’s new future.
Carl Korn
Chairman of the Board
James R. Bazet
President and Chief Executive Officer
Chicago
March , 