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Cobra Electronics Anonim Ortaklık Message Board

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  • fabulouspoodle fabulouspoodle Jul 23, 2008 2:03 PM Flag

    Double whammy

    re <<how was anyone to know that it was making money? Didn't they owe the shareholders more information on Performance last quarter?>>

    In the last 10q, on page 17, there is a breakdown of PPL's sales and pre-tax profits for the last qtr.

    And on page 19, they gave more details:

    "Performance Products Limited (“PPL”) Business Segment

    PPL’s net sales increased by $1.2 million, or 38.6 percent, in the first quarter of 2008 to $4.3 million from $3.1 million in the prior year’s first quarter. The increase was driven by strong sales of personal navigation products, which more than doubled from 2007 as a full complement of these products was available for sale compared to the prior year. Also contributing to the sales increase was a large sale of encrypted SD cards providing speed camera and golf course mapping for use with smart phones in Germany. Offsetting these increases was a decline in GPS locator product sales due to a production shortfall.

    Gross profit increased to $1.9 million in 2008 from $1.3 million in 2007 while gross margin increased to 45.1 percent from 43.3 percent in 2007. The higher gross margin was due mainly to the above-discussed sale of SD cards, as well as lower intangible amortization that reduced PPL’s Enigma data base download fee revenue recognized for the quarter. The unamortized amount at March 31, 2008 amounted to $234,000 and will be amortized in 2008.

    Selling, general and administrative expense amounted to $1.3 million for both the current and prior year’s quarter.

    Also contributing to PPL’s 2008 pre-tax profit was $184,000 of other income, due primarily to gains on foreign exchange contracts for the sale of pounds sterling and the purchase of U.S. dollars, compared to $151,000 of other income in 2007, also due mainly to foreign exchange gains."