Cobra 2009 Annual Report Download - page 3

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2009 Annual Report 1
Percent
Increase
2009 2008 (Decrease)
OPERATING DATA
Net sales $ 105,229 $ 124,745 -15.6 %
Gross profit 26,376 38,169 -30.9 %
Loss from operations (3,690 ) (16,090 ) -77.1 %
Interest expense 928 997 -6.9 %
Other (income) expense (1,110 ) 1,143 +197.1 %
Net loss (10,272 ) (18,839 ) -45.5 %
Net loss per common share:
Basic $ (1.59 ) $ (2.91 ) -45.5 %
Diluted (1.59 ) (2.91 ) -45.5 %
Dividends declared and paid per share – 0.16 -100.0 %
Adjusted EBITDA* $ 1,109 $ 10,350 -89.3 %
AS OF DECEMBER 31:
Total assets $ 75,703 $ 78,998 -4.2 %
Bank debt 17,869 17,671 1.1 %
Shareholders’ equity 33,235 42,530 -21.9 %
Book value per share $ 5.14 $ 6.57 -21.9 %
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 to the comparable GAAP measure is provided on page 11 of this
Summary Annual Report.
Financial Highlights
(In thousands, except per share amounts)