Cobra 2008 Annual Report Download - page 4

2 COBRA ELECTRONICS CORPORATION
system for trucks that provides safe
and efficient routing based on the
vehicle’s unique characteristics and
a tracking device that can be used
to locate and recover lost pets or
personal assets.
Cobra has truly established a
global presence in the past several
years. Sales outside of the United
States accounted for 28.1 percent
of total sales in 2008, as compared
to 13.4 percent only two years
earlier. Cobra’s products are sold
in more than 70 countries around
the world, including countries in
South America, the Caribbean,
Europe, the Middle East and Asia.
This geographic diversity provides
ever increasing opportunities to sell
Cobra’s products and increases our
brand equity on a daily basis.
At the 2009 International
Consumer Electronics Show, Cobra
unveiled new lines of two-way ra-
dios and radar detectors, as well
as the global AURA™ database of
speed camera and hazardous driv-
ing locations. Our continued inno-
vations, such as Rewind-Say-Again
and VibrAlert®, have cemented
Cobra’s leading position in the
two-way radio market and we have
been selected as the exclusive sup-
plier of two-way radios to one of
the world’s largest retailers for 2009.
2008 was a tumultuous year,
reflecting the turmoil in the financial
markets, the overall decline in eco-
nomic activity and the resulting
wave of retail bankruptcies. Cobra
has emerged from this turbulence
as a stronger, more vibrant com-
pany, with substantial cash flow
and a strong balance sheet. We are
well positioned for the future as a
global competitor with a portfolio
of innovative product lines and ex-
panded marketing and distribution
channels.
Cobra’s strength derives from our
substantial brand equity, continued
innovation and a loyal and dedicat-
ed employee base. The Cobra brand
is known globally for reliability and
value. Continued innovations, such
as Rewind-Say-Again™ for marine
radios and two-way radios and
GPS-enabled photo-enforcement
alert features, provide a reason to
buy, even for consumers who are
pulling back in a tough economy.
The Snooper™ brand, which is the
focus of Performance Products Lim-
ited’s marketing and merchandising,
is among the best known in the UK
and is spreading throughout Europe
as the company expands its mar-
keting and distribution channels.
PPL also is known for innovation,
introducing in 2008 a navigation
Letter to
Shareholders