Cobra 2001 Annual Report Download - page 5

2001 ANNUAL REPORT 3
in the U.S. radar detection and
Citizens Band radio markets. We
remained the strong number two
brand in the U.S. Family Radio
Service market, significantly
narrowing the gap between
ourselves and the leading brand.
We solidified our number one
position in the Family Radio
Service market in Canada as well as
maintained our number two
position in the Personal Mobile
Radio market in Europe.
Judging by the reception our
latest product line received at the
recent International Consumer
Electronics Show, we are confident
that 2002 will hold further
distribution gains for Cobra.
BU I LDI N G PART N ERSHI PS FOR
THE FU T U RE
No company could realize such
accomplishments without develo-
ping and nurturing a significant
number of highly productive
partnerships. We sincerely view our
retail customers as our partners in
bringing consumers the products
they want as conveniently and
affordably as possible. To create the
most attractive and ergonomic
products on the market, we have
partnered with the extremely
talented product design firm, PDT
Inc. To manufacture those
products, we have contracted with
an outstanding group of factories
dedicated to exceptional quality
and innovation. We have also
increased the number of European
distributor partners to twelve by
expanding into Germany and Italy.
Cobra products are now distributed
in 32 countries worldwide.
Our most recent partnership is
allowing us to enter one of the
fastest-growing categories in the
electronics industry. Beginning in
the second half of 2002, we will
begin shipping a complete line of
hand-held GPS (Global Positioning
Systems) devices produced through
our partnership with Maxwood
Technology Ltd. Our long-term
goal is to achieve the same level of
market leadership in GPS that we
have in our other categories.
CREATI N G SH AREH OLDER V ALUE
Our ability to create shareholder
value is a key reason that Forbes
magazine named us to their list of
the “Top 200 Small Companies in
the U.S.” for the second consecutive
year. 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 contin-
ued support and look forward to a
bright future.
Carl Korn
Chairman of the Board
James R. Bazet
President and CEO
Chicago
March 28, 2002
Sales ($000,000)
98 99 00 01
103.4
EBITDA ($000,000)
98 99 00 01
Book Value Per Share
98 99 00 01
118.7
144.6
154.1
6.5
8.1
14.0
11.3
6.18
6.80
7.89
8.56