Cobra Electronics Corp. (COBR) Releases Favorable Second Quarter Results
Posted on Thursday, July 24th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to WatchCobra Electronics is involved in the design and marketing of leading-edge mobile communication and navigation devices. The company’s products vary wildly within the consumer electronics industry, including GPS navigation systems, two-way & citizen band radios, radar detection devices, marine electronics, and more.
Cobra has been turning a lot of heads this week, as reports of increased second quarter earnings reached investors everywhere. Recorded net income was $1.7 million, an amazing turn-around from last year’s second quarter loss of $434,000. Cobra attributes the positive effects to improved gross margins and reduced operating expenses, as well as a significant sales boost from the performance products limited (”PPL”) section of its business.
“We are pleased with Cobra’s improved performance in the second quarter,” comments Jim Bazet, Cobra Electronics’ president and CEO. “In particular, the performance of PPL was very strong, continuing the trends evident in their first quarter results. New business opportunities and a broad assortment of mobile navigation offerings drove higher sales and an increase in operating earnings to $1.9 million from $81,000 in the prior year’s second quarter. In the Cobra segment, higher gross margins and lower operating expenses led to earnings from operations of $782,000, as compared to a loss from operations of $1.3 million in the prior year.”
The outlook for the remainder of 2008 seems heightened, with the company expecting to return to profitability. Jim Bazet believes that the pattern aimed toward that end will be ascertainable in third quarter financial results.
Let us hear your thoughts below:
Last 5 posts by QualityStocks
- Omnicity Corp. (OMCY.OB) Announces Addition of New Board Member - November 20th, 2009
- Muscle Flex, Inc. (MFLI.PK) Announces Release Time for the BUDDY Tablet Caddy Two-Minute Commercial and Landing Page - November 20th, 2009
- Artfest International, Inc. (ARTS.OB) Announces Revenue Profit Jumps - November 20th, 2009
- Omnicity Corp.’s (OMCY.OB) Recently-Issued Corporate Update - November 20th, 2009
- Soligenix Inc. (SNGX.OB) Taking Steps to Meet Challenges of Vaccine Technology and Biological Warfare - November 20th, 2009
 About QualityStocks (http://QualityStocks.net)
Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. We believe strong management and vision for the future are crucial for any company to be successful. Timing is everything and we help investors succeed by providing an objective, broad-based view of the SmallCap markets on a daily basis. Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.