Cobra Electronics Stocks Plummet

[Radar Roy]

Found this post interesting:

Cobra Electronics stock plummets following profit attributed to tax adjustment
by Shannon Bond
Oct 24, 2007


Shares of Chicago-based Cobra Electronics Corp. plunged 10 percent Wednesday after the company reported a profit solely from a favorable tax adjustment, missing its solo analyst's estimate by half, and predicted a down fourth quarter.

Cobra said its 8 percent rise in income was mostly due to a tax benefit. A 42 percent jump in operating expenses offset sales growth.

http://news.medill.northwestern.edu/....aspx?id=66605

[Silverstreak98]

Hey I go to Northwestern!!



Good to hear tho, maybe they will begin making worse detectors now.

[Nighthawk243]

Good thing I never tried investing in Cobra .

[hockey005]

lol x2

[Retaliation]

Ouch, they're hurting bad if they only posted a profit because of a tax adjustment.

[Nighthawk243]

Uh... turns out everything is down.

My shares in one of my internet stocks just dropped about 8 bucks... :cry:

[bkrell]

I like Cobra's auto GPS they have out now. Looks pretty competitive. But I bet every time it passes a Garmin or TomTom it causes them to falsely report that they've reached their destination.

[SuperSalad]

LOL! @ bkrell

[TYM2FLY]

I like Cobra's auto GPS they have out now. Looks pretty competitive. But I bet every time it passes a Garmin or TomTom it causes them to falsely report that they've reached their destination.

LOL! @ bkrell

I'm still laughing... good thing that is only a "ground" phenomena as cobera does not manufacture aeronautical GPS equipment; thank God.

[MEM-TEK]

Hey,

Maybe we all have done a good job of educating people about how poor the performance is of Cobra radar detectors! Nevertheless, it is obvious that Cobra's heyday has come and gone. Too bad though -- 20 years ago Cobra was one heck of a company with good products back then.