Cobra 2011 Annual Report Download - page 4
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2
COBRA ELECTRONICS CORPORATION
SHAREHOLDERS’
LETTER
I am very proud to report that Cobra
recently completed its best year of nancial
performance since 2005. In addition, as a
culmination of our Fiy Year Anniversary,
on December 19, 2011, we had the honor
of ringing the NASDAQ Stock Market
Opening Bell. These events also mark a
great beginning to our next Fiy Years
of innovation and growth. The future
of our Company is very bright due to
our continued product innovation, our
strong brand and our talented and driven
employees.
Product innovation continues to be
critically important in the consumer
electronics business and as you have
probably heard me say many times, we
have a “Develop or Die” philosophy at
Cobra. As a result, we introduced several
highly acclaimed products in the past
year that have also been a large part of our nancial success in 2011, including
the 29 LX Citizens Band radio and the 5550 PRO Trucker Navigation unit. Also, our
Truckmate™ Navigation products sold in Europe continued to receive recognition
in the marketplace and achieve strong sales growth. These key products
represent recent innovation of our core products.
We continued our award winning successes in 2011 with some of our recently
announced new products for 2012 that appear on the following pages of this annual
report. I would like to touch on a few that were each recently recognized with a
prestigious International CES Innovations 2012 Design and Engineering Award:
c Cobra JoyRide™, a car charger for Android smartphones designed to intelli-
gently and personally customize the way the owner’s smartphone behaves
when entering and exiting their vehicle.
c Cobra iRadar™ community allows users to report and warn other users of
threats such as speed traps, safety caution areas, and photo enforcement
cameras in real time.
Cobra has recently completed
its best year of financial
The future of our Company
JIM BAZET
Chairman of the Board,
President and CEO