twice connect


Cobra Reports Higher Profits In 3rd Quarter

Chicago - Cobra Electronics reported higher net and operating income in the fourth quarter of 2013. 2/19/2014 11:00:00 AM Eastern

Chicago - Cobra Electronics reported higher net and operating income in the fourth quarter of 2013.

Net income was $1.9 million for the fourth quarter, compared with net income of $1.4 million in the prior year.

Operating income for the quarter was $1.8 million for the current quarter, compared with operating income of $1.4 million in the same quarter last year. These results reflected a decrease in selling, general and administrative  expense that was partially offset by slightly lower net sales and gross margin, Cobra said.

Consolidated net sales were $35 million compared to $35.7 million in the fourth quarter of 2012, with the Cobra segment reporting a $1.5 million, or 4.5 percent, drop in sales and the performance products limited (PPL) segment reporting a sales increase of $724,000, or 25.4 percent.

The lower sales for the Cobra segment resulted from a drop in domestic sales of detection and truck navigation products, partially offset by increases in European sales and a new category, dash cams. The lower sales of detection products reflected reduced sales at two large retailers that continued to face headwinds in a challenging retail market and the drop in sales of truck navigation products resulted from lower sell-through experienced by travel centers generally, and increased competition.

“We are pleased to report a healthy increase in operating income in the fourth quarter 2013, which was driven by significantly reduced SG&A expense. In addition, we are encouraged by the net sales generated by several new products introduced in the quarter,” said Jim Bazet, Cobra's chairman and CEO.

For the fiscal year, consolidated net sales were $111.2 million compared to $118.9 million for the same period of 2012. The net loss for the fiscal year was $1.1 million, compared with a net income of $3.2 million or $0.48 per share in the prior year.

Scheduler Date: 
Wednesday, February 19, 2014 - 11:00
ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston

ADL Honors Morales, Bilas, Paull, Weedfald At Annual Dinner

New York — The Anti-Defamation League’s National