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2 COBRA ELECTRONICS CORPORATION
ShareholderS’
Letter
While it was a very challenging year for our Company, I am pleased that the year ended on a high note with the fourth
quarter reflecting substantial improvement as a result of many initiatives. Two of those initiatives, a lifestyle branding approach
and Omni-channel commerce were started in 2013 and are discussed in more detail in this annual report. In 2014 and beyond
our Company will show more improvement and growth due to continued growth initiatives. In addition, our strong distribution
network and our talented and driven employees continue to be driving factors in the success of our Company.
New products are an essential part of the consumer electronics business and as you have heard me say many times, we
live a “Develop or Die” culture at Cobra. Toward this, we continued to innovate in 2013 with some exciting new products
that appear on the following pages of this annual report. I would like to mention a few with one recently recognized with a
prestigious award:
c Cobra iRadar® S-Series (CES Innovations 2013 Design and Engineering Award Winner), a new version that is the world’s
first under-the-hood detector to utilize a Bluetooth connection to a smartphone. The state-of-the art design is ideal for
drivers who want the ultimate in radar detection without having to mount the unit on the windshield or dashboard of
their vehicle.
c A new Drive HD Dash Cam line that records everything the driver sees and allows for peace of mind, security and even
entertainment. Drive HD Dash Cams are the perfect solution to continuously record your surroundings and keep you and
your vehicle safe and secure.
c The first model in a new line of Cobra AirWave™, a portable Bluetooth-based music receiver that allows users to wirelessly
stream audio from their Bluetooth-enabled smartphone or tablet devices to older generation home stereos, car stereos, or
standalone speakers.
Products, such as AirWave, result from the convergence of smartphones and technology, which provides an opportunity
to appeal to a younger demographic of customers, broaden our product portfolio and penetrate new distribution channels. In