Cobra 2013 Annual Report Download - page 3
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2013 ANNUAL REPORT 11
09 10 11 12 13
Percent
Increase
(in thousands, except per share amounts) 2013 2012 (Decrease)
Operating Data
Net sales $ 111,237 $118,906 (6.4 ) %
Gross profit 30,289 34,528 (12.3 ) %
(Loss) earnings from operations (1,699 ) 3,292 (151.6 ) %
Interest expense (778 ) (1,036 ) (24.9 ) %
Other income 1,280 1,022 25.2 %
Net (loss) earnings (1,140 ) 3,170 (136.0 ) %
Net (loss) earnings per common share:
Basic $ (0.17 ) $ 0.48 (135.4 ) %
Diluted (0.17 ) 0.48 (135.4 ) %
EBITDA As Defined* $ 901 $ 7,153 (87.4 ) %
Gross margin 27.2% 29.0% (6.2 ) %
SG&A as a percentage of net sales 28.8% 26.3% 9.5 %
As of December 31:
Total assets $ 82,806 $ 83,490 (0.8 ) %
Bank debt 20,673 20,284 1.9 %
Shareholders’ equity 39,909 40,260 (0.9 ) %
Book value per share $ 6.04 $ 6.09 (0.8 ) %
Shares outstanding 6,603 6,611 (0.1 ) %
* 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
Table of Contents
01 Financial Highlights
02 Shareholders’ Letter
04 The Year in Review
08 Consolidated Statements of Operations
09 Consolidated Balance Sheets
10 Consolidated Statements of Cash Flows
11 Quarterly Financial Data & EBITDA
12 Five–Year Financial Summary
13 Corporate Information
Net Sales
(in thousands)
$105,229
EBITDA as Defined
(in thousands)
09 10 11 12 13
Book Value
Per Share
09 10 11 12 13
$110,520
$123,259 $118,906
$111,237
$857 $901
$6,166
$7,853
$7,153
$4.96 $5.13
$5.58
$6.09 $6.04