Chicago — Cobra Electronics posted strong fourth-quarter and year-end sales and profit numbers, the company reported yesterday..
Fourth-quarter net income hit $1.9 million, up 23 percent from the same period in 2004, on sales of $44 million. For the year the company saw income rise 29 percent to $2.4 million, while sales increased 7 percent to $122 million.
Cobra’s fiscal year ended Dec. 31.
Jim Bazet, Cobra’s president/CEO, credited the profits to healthy sales of the company’s first mobile navigation product, the NAVONE 3000, along with a decent showing in its radar detection and portable GPS product lines.