Cobra reveals year-on-year sales increase

Cobra Electronics, a designer of mobile communications and navigation products, has reported increased sales and a reduced net loss for the first quarter of 2010 compared with the first quarter of 2009.  

The company reported a net loss of $1.3m (£852,000), or $0.20 per share, for the first quarter of 2010, compared with a net loss of $1.6m, or $0.25 per share, in the first quarter of 2009.  

The company’s improved performance was further supported by a 10.5 per cent increase in sales to $21.1m in the most recent quarter from $19.1m in the prior year, as well as a reduced operating loss, which declined to $1m from $2m in the prior year.