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Cobra Reports Improved Loss In Second Qtr.

8/02/2010 12:01:00 AM Eastern
CHICAGO — Cobra Electronics reported net loss, but an operating profit on relatively flat consolidated sales in the second quarter, ended June 30.

Cobra had a net loss of $316,000 in the quarter, which is an improvement compared with a net loss of $9.9 million for the prior year’s second quarter.

Cobra reported an operating profit of $300,000 for the second quarter of 2010, compared with an operating loss of $1.6 million for the second quarter of 2009.

Consolidated sales declined by $261,000, or 1 percent, with the Cobra segment reporting a decrease in net sales of $1.2 million, or 4.9 percent.

The sales decrease for the Cobra segment was seen primarily in Europe. Domestic sales experienced a decline in two-way radios and radar detection, offset, in part, by growth in truck navigation and marine radios.
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