Cobra 2011 Annual Report Download - page 5

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c Cobra Tag™ G5, a small sleek key fob device that uses Bluetooth
wireless technology and a separation alarm to link your valuables to
your smartphone to prevent loss.
These products represent industry innovation resulting from the continued
convergence of smartphones and Cobra technology further providing our
company with an opportunity to appeal to a new and younger demo-
graphic of customers. In addition, Cobra will introduce a bold new line of
high performance radar detectors, the Vedetta™ series, in 2012.
New products also strengthen the Cobra brand name by driving new mar-
keting and distribution opportunities as retailers and distributors recognize
the consumer demand for our products and the increasing equity of our
brand. In North America, Europe and elsewhere, Cobra has added new
marketing channels and expanded distribution in the past year and will
continue to do so in 2012. In particular, European net sales included in the
Cobra reporting segment grew 34% in 2011. Additionally, the Cobra brand
is now available in more than seventy ve countries and 50,000 storefronts.
The Snooper brand is available in more than twenty countries.
All of our success in 2011 would not have been possible without the
extraordinary talent and drive of our employees worldwide. In the process
of tightly managing costs and working capital, they continue to achieve ex-
traordinary results. My hat is o to them for the results they delivered in 2011.
As Cobra begins the next y years, we are proud of many meaningful
milestones, accolades and awards and are very condent about the
future of our company.
I would also like to thank you, our shareholders, for your continued support
of Cobra Electronics.
Sincerely,
Jim Bazet
Chairman of the Board, President and Chief Executive Ocer
March 26, 2012
Net Sales
(in thousands)
EBITDA as Dened*
(in thousands)
’09 ’10 ’11
’09 ’10 ’11
$105,229
$857
$110,520
$6,166
$123,259
$7,853
* A non GAAP performance measure