Cobra 2010 Annual Report Download - page 5

2010 ANNUAL REPORT3
In addition to these testimonies to
our continued product development
successes, Cobra also introduced a new
line of radar detectors and announced
the launch in 2011 of our newest
Citizens Band radio. At 2011 CES, we
introduced a Cobra iRadar system for
Android™ smartphones. Innovative
product development efforts are
continuing and we expect to have
more announcements in the next few
months.
New products also drive new market-
ing and distribution opportunities as
retailers and distributors recognize the
strength of the Cobra brand and the
consumer demand for our products. In
North America, Europe, the Middle East
and elsewhere, Cobra has added new
marketing channels in the past year
and will continue to do so in 2011.
Cobra returned to profitability in 2010
and, although we are not yet satisfied
with our results, we are pleased that
the efforts we made to emerge from
the recession as a stronger and more
nimble company produced the start of
tangible results. In further recognition
of our improved financial condition,
in July Cobra completed a refinanc-
ing of its bank debt that provided
“We remain very con-
fident in the future of
our Company, driven by
continued innovation
and the dedication of
each of our employees to
our future success.”
additional liquidity and significant
savings.
All of our successes would not have
been possible without the dedication
and extraordinary efforts of our
employees across the globe. We have
asked much of our team and they have
responded by giving more than we
could have possibly expected. I want
to extend to them our appreciation for
everything they have done to return
our Company to profitability and
position Cobra for a bright future.
We are energized by the opportunities
that lay ahead for Cobra and we have
positioned the Company for success
in 2011 by driving new product
development. We remain very confident
in the future of our Company, driven
by continued innovation and the
dedication of each of our employees
to our future success.
As Cobra celebrates fifty years of
innovation in 2011, we also celebrate
a series of meaningful milestones,
accolades and awards. As a testament
to our “develop or die philosophy”,
our investments in new products
during very difficult times are
paying off. We are responding to
the consumer movement of merging
smartphone applications with Cobra
technology. This connected technology
is the future and will be Cobra’s future
as well.
Sincerely,
Jim Bazet
Chairman of the Board, President
and Chief Executive Officer
March 25, 2011