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Cobra Electronics Swings To Q1 Profit

4/27/2012 12:51 PM ET

Cobra Electronics Corp. (COBR: Quote) Friday swung to a first-quarter profit from a loss last year, driven mainly by double-digit growth in revenues.

The Chicago, Illinois-based company reported first-quarter net profit of $339 thousand or $0.05 per share, compared to a net loss of $819 million or $0.13 per share last year.

Total revenues for the quarter grew 17.7 percent to $26.42 million from $22.44 million in the prior-year quarter.

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by RTT Staff Writer

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