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Cobra Electronics Corp. Message Board

  • longtimefollower longtimefollower Jul 27, 2012 10:01 AM Flag

    These are very solid results.

    The increase in gross margin is particularly impressive. The flat sales are nothing to worry about. New products coming out will allow for a resumption of sales increases, is my guess, and we have a history of being "lumpy" anyway.

    The company is increasingly "burnishing" itself as a value-added mobile device maker.

    I think the stock should be selling at at least book value, and the current Sidoti estimates out there are reasonable for the comapny to achieve on EPS this year. $6-7 seems like a reasonable target, in the next 6-12 months...possibly sooner. And, if the Street falls in love with the story, the stock could easily "overshoot" the $6-7 range...just because it is so "thin."

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    • LTF...I added at the open (and a few more later). Like to add more lower.

      Just on a 'traders' basis, they are guiding nest quarter for beat of q3 2011 operationally. They made $1.4 million last year, so thats a nice beat. But that number includes the $671 thousand loss on the cash surrendor value of their life insurance policies. So add that back to guidance, and your looking at q3 guidance of around $2,000,000 on a net income basis. What's that....something like .30/share...

      • 2 Replies to fabulouspoodle
      • Well, my own guess is, assuming they show perhaps a 10% increase in operating profit in both Q3 2012 and Q4 2012 (which may be conservative), that they earn a bottom line number of like 90 cents in EPS this year. (Remember that they are paying no tax, so you may want to adjust for a tax effect.)

        If you look at what the annualized EBITDA might end up being (based on the comment in the conference call that it was $3.8 million for the 6 months to date), you could, without too much trouble, come up with a value for the entire company, in a buyout, that is arguably as much as double the current stock price. But I suspect the management team is having too much fun, building value, to be immediately focused on that. (Everything in due course, I'd like to think.)

        This stock is undervalued. Decidedly. And yes, I shouldn't have sold as much as I did, before and after the Q4 2011 earnings release.

      • the $0.80 earnings for 2012 should be in the bag IMHO

        upgrade again ?

        my guess is we test $6.00 ++ quickly here, if not by early fall, as they get the story out.

        on a cash flow basis, alone, ridiculously cheap

    • numbers and forecast are really good.Cobr is trading at big discount, it should be around 8-9$

 
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