Cobra 2001 Annual Report Download

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Table of contents

  • Page 1

  • Page 2
    ... into the GPS (Global Positioning Corporate Profile System) market with the development of another innovative mobile communications product line. Cobra, ranked among Forbes' 200 Best Small Companies, has a 40Cobra Electronics Corporation is a leading global manufacturer of mobile communications...

  • Page 3
    (Thousands, except per share amounts) 2001* 2000 % change OPERAT I N G DAT A: Net sales Gross profit Operating income Income before taxes Net income Net income per share: Basic Diluted $ 154,121 43,079 9,...

  • Page 4
    ... products we economy and our company. Despite this, Cobra Electronics delivered a solid performance in 2001. Of course, we were not the only company ...the leader in each of our markets. In 2001, we extended our number one position Report to Shareholders than ten years. Fortunately, the foundation...

  • Page 5
    .... Our market leadership, innovative new products, expansive distribution, new high-growth categories and financial strength all add up to a promising future for Cobra Electronics and its investors. We thank you for your continued support and look forward to a Book Value Per Share EBITDA ($000,000...

  • Page 6
    ... Awards at the 2002 years has been its commitment to a "develop or die" philosophy concerning new products. The result: 80% of Cobra's 2001 revenues came from products that did not exist in 1999. International Consumer Electronics Show. features, performance levels and designs that will best meet...

  • Page 7
    American consumers spent over $600 million on FRS radios in 2001. Cobra's new models for 2002 are expected to allow the company to close in on the number one market share position in the category. 2 0 0 1 AN N U AL R EP O RT 5

  • Page 8
    ...result is an array of exceptionally stylish and compact designs that clearly reinforce the radios' outstanding quality. In radar detection, Cobra's 2001 innovations included the first detector incorporating a NOAA All Hazards Alert Radio and an attractively priced detector sporting a digital compass...

  • Page 9
    ... features two exclusive technologies: 10 Band detection ᮣ and SmartMute anti-falsing. To address growing consumer concerns about potential civil emergencies, all Cobra products incorporating NOAA radios will feature this logo on their packaging. The ESD 9230 WX radar detector on the left is just...

  • Page 10
    ...'s new GPS line is expected to increase the company's placement in sporting goods retailers. other major European retailers. In 2001, Cobra's sales organization began to broaden its horizons to include a variety of sales channels not normally associated with consumer electronics products. These...

  • Page 11
    New distribution partner, Starboard Cruise Services, is selling Cobra two-way radios to passengers on most major cruise lines around the world. 2 0 0 1 AN N U AL R EP O RT 9

  • Page 12
    ...users log in, generating potential exposure to over 30 million AOL members. Cobra FRS radios can also be found in some of America's leading drug ...sales. Equally important, by aligning itself with strong retail partners, Cobra is positioning itself to fully capitalize during healthy economic times and...

  • Page 13
    ... buyers of FRS/GMRS radios. ᮡ High-impact merchandising pieces like the one above ensure that Cobra products stand out in today's highly ᮤ "Value pack" products like this have made Cobra a big seller at membership club stores. competitive retail environment. 2 0 0 1 AN N U AL R EP O RT 11

  • Page 14
    ...issued Common stock, $.33 1⁄ 3 par value, 12,000,000 shares authorized, 7,039,100 issued for 2001 and 2000 Paid-in capital Retained earnings Treasury stock, at cost (736,048 shares for 2001 and 872,716 shares for 2000) Total shareholders' equity Total liabilities and shareholders' equity 12 C O BR...

  • Page 15
    CON SOLI DAT ED ST AT EM EN T S OF I N COM E Y ears Ended December 31, 2000 In thousands, except per share amounts 2001 1999 Net sales Cost of sales Gross profit Selling, general and administrative expense Expenses for the terminated Lowrance acquisition Operating income Other income (expense): ...

  • Page 16
    CON SOLI DAT ED ST AT EM EN T S OF CASH FLOWS In thousands 2001 Y ears Ended December 31, 2000 1999 CASH FLOWS FROM OPERAT I N G ACT I V I T I ES: Net income Adjustments to reconcile net income to net cash flows from operating ...

  • Page 17
    ... per share amounts March 31 2001 2000 June 30 2001 2000 September 30 2001 2000 December 31 2001 2000 Net sales Cost of sales...1,506 (a) The total quarterly income per share may not equal the annual amount because net income per share is calculated independently for each quarter. 2 0 0 1 AN N...

  • Page 18
    ... statements for the year ended December 31, 2001, which were presented in accordance with accounting ... (dated February 19, 2002) are included in the Company's Proxy Statement and in its Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission, both of which are available...

  • Page 19
    ... invited to Cobra Electronics Corporation's annual meeting of ...Cobra Electronics Corporation Ian R. Miller Independent Consultant, Marketing/Brand Strategy Harold D. Schwartz President, Chez & Schwartz, Inc. Marketing Consultants This report is in a summary format. It is intended to present 2001...

  • Page 20
    Cobra Electronics Corporation • 6500 West Cortland St. • Chicago, IL 60707 • 773/889/8870 • www.cobra.com