Cobra 2006 Annual Report Download

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Table of contents

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    2006 ANNUAL REPORT CORPORATE PROFILE Cobra Electronics Corporation is a leading designer and marketer of two-way mobile communications products in the United States, Canada and... needs. SALES (IN MILLIONS) BOOK VALUE PER SHARE $11.13 $9.33 $10.85 $153.7 $133.1 $122.9 2004 2005 2006 2004 2005...

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    TABLE OF CONTENTS 2 3 4 12 13 14 15 16 17 Financial Highlights Report to Shareholders Year in Review Consolidated Statements of Operations Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Financial Data Five Year Financial Summary Corporate Information 1

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    2006 ANNUAL REPORT "Cobra Electronics went through a pivotal year in 2006 ..." FINANCIAL HIGHLIGHTS Percent Change In thousands, except per share amounts 2006 2005 OPERATING DATA Net sales Gross profit Operating (loss) income Other (expense) income, net (Loss) income before income taxes Net (...

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    ...we gained tremendous traction in our businesses, we also reported our first annual loss since 1995. Our financial results risk overshadowing our successes in this past year and the groundwork we have laid for the future. In 2006, Cobra developed intellectual property for mobile navigation that has...

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    2006 ANNUAL REPORT Research shows that the average driver sits in traffic up-to 50 hours a year. Cobra's NAV ONE 4500 was developed to fulfill consumer need for on-board traffic reporting. "Insight into the consumer is Cobra's key to leadership." 4

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    ...Understanding the consumer mandates the Company expand its product breadth, depth, and distribution channels. Insight into the consumer is Cobra's key to leadership. In 2006, Cobra launched new products in growth product lines, expanded a legacy product category to an industry high, and continued to...

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    2006 ANNUAL REPORT Performance Products Limited's line of GPS locator products incorporates the latest in GPS location engineering and innovative design, with a range of attractive price points and features. In late 2006, Cobra... and provides the option to download the enigma database. PPL also...

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    ... to a more affordable, enhanced product for consumers in 2007. With established and proven system architecture developed by Cobra over the previous two years, 2006 provided the Company the opportunity to deepen its understanding of the mobile navigation marketplace. As consumers embraced the...

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    ... ANNUAL REPORT Consumers know an excellent value when they find it and the XRS 9930 fits that bill as the best selling model in the industry, despite being one of the higher priced products in the category. From a value standpoint, the consumer's choice was clear - Nothing Comes Close to a Cobra...

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    ... leading edge technology to today's consumer with the new XRS R9G with an exclusive Speed & Red Light Camera database. Once again, Cobra's leadership and thorough understanding of its customer brings leading edge technology to the marketplace at an affordable price. The Company anticipates more...

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    2006 ANNUAL REPORT The industry's first lithium-ion high powered two-way radio was introduced in 2006; the LI-... NOAA All Hazards Alert Radio, VOX hands-free operation, VibrAlert and more. Additionally, Cobra launched more models in the microTALK product line for 2007 including its PR 4100-2 WX...

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    ... as a growing force in the industry, both in the United States and overseas. From chartplotters to marine radios, Cobra offered a well-rounded lineup of marine products in 2006. Cobra's line of marine radios continued the growth trends established in 2005 with excellent sales across Europe of the...

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    CONSOLIDATED STATEMENTS OF OPERATIONS Years Ended December 31, In thousands, except per share amounts 2006 2005 2004 Net sales Cost of sales Gross profit Selling, general and administrative expense Operating (loss) income Other (expense) income (Loss) income before income taxes ...

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    ...' equity: Preferred stock, $1 par value, shares authorized - 1,000,000; none issued Common stock, $.33 1/3 par value, 12,000,000 shares authorized, 7,039,100 issued for 2006 and 2005 Paid-in capital Retained earnings Accumulated comprehensive income (loss) Treasury stock, at cost (605,662 shares for...

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    CONSOLIDATED STATEMENTS OF CASH FLOWS Years Ended December 31, In thousands 2006 2005 2004 CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) earnings Adjustments to reconcile net (loss) earnings to net cash ï¬,ows from operating activities: Depreciation and ...

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    QUARTERLY FINANCIAL DATA Quarter Ended In thousands, except per share amounts March 31 2006 2005 2006 June 30 2005 September 30 2006 2005 December 31 2006 2005 Net sales Cost of sales Gross profit Selling, general and administrative expense Operating (loss) income Other (expense) income Tax (bene...

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    ... consolidated financial statements for the year ended December 31, 2006, which were presented in accordance with accounting principles generally accepted... independent auditors' report that expressed an unqualified opinion (dated March 27, 2007) are included in the Company's Annual Report on Form 10...

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    ...or by e-mail to [email protected]. ANNUAL MEETING You are cordially invited to Cobra Electronics Corporation's annual meeting of shareholders to be held... is March 30, 2007. SUMMARY ANNUAL REPORT This report is in a summary format. It is intended to present 2006 results in a simple, readable style...

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    Cobra Electronics Corporation 6500 West Cortland Street Chicago, Illinois 60707 www.cobra.com