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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.