Cobra Sales up 14% - Led by GPS
Cobra Electronics also caught the wave of strong GPS sales with their new NavOne 2500 unit selling well through the holidays. Overall sales were up 14%, mainly driven by a 62% increase in GPS sales, while earnings were down on one time events.
"Cobra turned in a solid quarter as we continued to recover from the losses earlier this year," said Jim Bazet, Cobra's President and Chief Executive Officer. "We were particularly pleased by the increase in sales of mobile navigation products, led by our newest entry in this market, the NAV ONE 2500. This product was featured on one of the home shopping cable channels during the recent holiday shopping season and sold more than 23,000 units in a 24-hour period. This strong consumer acceptance of our newest generation of mobile navigation products is highly promising for the platform that will drive the growth of this business in the future."
They are also happy to announce that they have national distribution of the Cobra NavOne 2100, which was announced at CES 2007 in January. The NavOne 2100 will ship in March and have a list price of $299. Nice!
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Posted by Scott Martin at March 5, 2007 6:50 AM
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