Cobra 2008 Annual Report Download - page 3

Download and view the complete annual report

Please find page 3 of the 2008 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.

Page out of 16

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16

ANNUAL REPORT 2008 11
Cobra Electronics is a leading
designer of products that provide
performance, style and innovation.
The cover reflects our continuing
focus to bring innovative solutions to
the marketplace.
1
FINANCIAL HIGHLIGHTS
2 LETTER TO
SHAREHOLDERS
4 YEAR IN REVIEW
8 CONSOLIDATED
STATEMENTS OF
OPERATIONS
9 CONSOLIDATED BALANCE
SHEETS
10 CONSOLIDATED
STATEMENTS OF
CASH FLOWS
11 QUARTERLY
FINANCIAL DATA
12 FIVE-YEAR
FINANCIAL SUMMARY
13 CORPORATE
INFORMATION
Financial Highlights
Increase
In thousands, except per share amounts 2008 2007 (Decrease)
OPERATING DATA
Net sales $ 124,745 $ 155,935 -20.0%
Gross profit 38,169 31,401 21.6%
Loss from operations (16,090 ) (8,233 ) 95.4%
Interest expense 997 1,655 -39.8%
Other (expense) income (1,143 ) 1,089 -205.0%
Net loss (18,839 ) (4,422 ) 326.0%
Net loss per common share:
Basic $ (2.91 ) $ (0.68 ) 327.9%
Diluted (2.91 ) (0.68 ) 327.9%
Dividends declared and paid per share 0.16 0.16 0.0%
Adjusted EBITDA* $ 10,350 $ 7,100 45.8%
AS OF DECEMBER 31:
Total assets $ 78,998 $ 114,318 -30.9%
Long-term debt 16,301 18,745 -13.0%
Shareholders’ equity 42,530 65,115 -34.7%
Book value per share $ 6.57 $ 10.06 -34.7%
Shares outstanding 6,471 6,471 0.0%
* This amount is considered a “non-GAAP” financial measure under Securities and Exchange Commission rules. As required, a reconciliation of this financial
measure is provided on page 11 of this Summary Annual Report.
ANNUAL REPORT 2008 1