UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

  (Mark One)

     X       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
    ---      OF THE SECURITIES EXCHANGE ACT OF 1934

             For the quarterly period ended September 30, 2000

                                   OR

    ---      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934


                          Commission File Number 0-511


                  COBRA ELECTRONICS CORPORATION
      (Exact name of Registrant as specified in its Charter)

       DELAWARE                         36-2479991
(State of incorporation)    (I.R.S. Employer Identification No.)

       6500 WEST CORTLAND STREET
       CHICAGO, ILLINOIS                          60707
(Address of principal executive offices)        (Zip Code)


Registrant's telephone number, including area code:(773) 889-8870

Securities registered pursuant to Section 12(g) of the Act:

          Common Stock, Par Value $.33 1/3 Per Share

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                        YES   X    NO
                            -----     -----

Number of shares of Common Stock of Registrant outstanding at
November 8, 2000: 6,166,384

<PAGE>


PART I      FINANCIAL INFORMATION

Item 1.     Financial Statements

            Cobra Electronics Corporation and Subsidiaries
                  Consolidated Statements of Income
               (In thousands, except per share amounts)

                         For the Three           For the Nine
                         Months Ended            Months Ended
                          (Unaudited)             (Unaudited)
                     --------------------    --------------------
                     Sept 30,    Sept 30,    Sept 30,   Sept 30,
                       2000        1999        2000       1999
                     --------    --------    --------   --------
Net sales............$ 38,573    $ 34,346    $ 95,719   $ 80,433
Cost of sales........  27,702      26,082      68,745     60,591
                     --------    --------    --------    -------
  Gross profit.......  10,871       8,264      26,974     19,842

Selling, general and
  administrative
  expense............   7,435       6,362      19,337     16,282
                     --------    --------    --------    -------
 Operating income....   3,436       1,902       7,637      3,560

Other income(expense):
  Interest expense...    (256)       (197)       (519)      (697)
  Other, net.........     (18)       (378)       (242)      (201)
                     --------    --------    --------    -------
Income before
  taxes..............   3,162        1,327       6,876      2,662
Provision
  for income taxes...   1,213          442       2,641        907
                     --------    ---------   ---------   --------
Net income...........$  1,949    $     885   $   4,235   $  1,755
                     ========    =========   =========   ========

Net income per common share:

        -Basic.......   $0.32       $0.15       $0.69      $0.29
        -Diluted.....    0.30        0.15        0.66       0.28
                       ========   ========    ========   ========
Weighted average
  shares outstanding

        -Basic.......    6,132       5,981       6,136      6,025
        -Diluted.....    6,443       6,077       6,398      6,162
                       ========   ========    ========   ========

Cash dividends.......    None       None        None       None
                       ========   ========    ========   ========

See notes to consolidated financial statements.
            Cobra Electronics Corporation and Subsidiaries
                           Consolidated Balance Sheets
                             (Dollars in thousands)

                                 As of               As of
                                Sept 30,           December 31,
                                  2000                1999
                              (Unaudited)
                             -------------       ------------
ASSETS:

Current assets:
  Cash.......................$         701       $         93
  Receivables, less allowance
    for claims and doubtful
    accounts of $2,032 at
    Sept 30, 2000, and $1,381
    at December 31,1999......       31,295             25,565
  Inventories, primarily
   finished goods.............      26,004              8,689
  Deferred income taxes.......       4,997              4,997
  Other current assets........       1,660              4,192
                              ------------       ------------
  Total current assets........      64,657             43,536
                              ------------       ------------
Property, plant and equipment, at cost:
  Land........................         330                330
  Building and improvements...       4,146              3,619
  Tooling and equipment.......      15,009             13,915
                              ------------       ------------
                                    19,485             17,864

  Accumulated depreciation....     (14,338)           (13,042)
                              -------------      -------------
  Net property, plant and
    equipment.................       5,147              4,822
                              ------------       ------------

Other assets:
   Deferred income taxes......       1,941              4,581
   Cash surrender value of
    officers' life insurance
    policies..................       5,879              5,499
   Other .....................         985              1,141
                              ------------       ------------
   Total other assets.........       8,805             11,221
                              ------------       ------------
Total assets..................$     78,609       $     59,579
                              ============       ============

See notes to consolidated financial statements.



<PAGE>


             Cobra Electronics Corporation and Subsidiaries
                      Consolidated Balance Sheets
                         (Dollars in thousands)

                                  As of                As of
                                 Sept 30,           December 31,
                                   2000                1999
                                (Unaudited)
                               ------------        ------------
LIABILITIES AND SHAREHOLDERS'
   EQUITY:

Current liabilities:
  Accounts payable............ $     5,453         $     2,792
  Accrued salaries and
   commissions................       1,417               1,326
  Accrued advertising and
   sales promotion costs......       2,770               2,800
  Accrued product warranty
   costs......................       2,937               2,916
  Other accrued liabilities...       1,058               1,456
  Short-term debt.............      16,474               4,083
                               ------------        ------------
  Total current liabilities...      30,109              15,373
                               ------------        ------------

  Deferred compensation.......       2,909               2,634
                               -----------         ------------
Total liabilities.............      33,018              18,007
                               -----------         ------------

Shareholders' equity:

  Preferred stock, $1 par
    value, shares authorized-
    1,000,000; none issued....         ---                 ---
  Common stock, $.33 1/3 par
    value,12,000,000 shares
    authorized; 7,039,100
    issued for 2000 and 1999..       2,345               2,345
  Paid-in capital.............      20,103              20,301
  Retained earnings...........      28,690              24,455
                               ------------        ------------
                                    51,138              47,101

  Treasury stock, at cost.....      (5,547)             (5,529)
  (898,966 shares for 2000 and
   921,009 shares for 1999.

                               ------------        ------------
  Total shareholders' equity..      45,591              41,572
                               ------------        ------------
Total liabilities and share-
  holders' equity............. $    78,609          $   59,579
                               ============        ============

See notes to consolidated financial statements.


<PAGE>


           Cobra Electronics Corporation and Subsidiaries
                Consolidated Statements of Cash Flows
                             (Dollars in thousands)

                                     For the Nine Months Ended
                                             (Unaudited)
                                 --------------------------------
                                    Sept 30,           Sept 30,
                                      2000               1999
                                 --------------     -------------
Cash flows from operating Activities:
Net income from operations          $   4,235           $  1,755
Adjustments to reconcile net income
   from operations to net
   cash provided by (used for)
   operating activities:
   Depreciation and amortization        1,519              1,281
   Deferred taxes                       2,640                  0
   Changes in assets and
      liabilities:
     Receivables................       (5,730)             1,948
     Inventories................      (17,315)            (1,089)
     Other current assets.......        2,472               (256)
     Other assets...............           (8)              (295)
     Accounts payable...........        2,661              1,917
     Deferred compensation......          275                 95
     Accrued liabilities........         (316)               359
                                      --------          ---------
Net cash (used for) provided by
    operating activities.........      (9,567)             5,715
                                      ---------         ---------
Cash flows from investing activities:
  Capital expenditures...........      (1,621)              (948)
  Cash Surrender Value of Life
  Insurance......................        (380)              (483)
                                      ---------         ---------
Net cash used in investing
    activities...................      (2,001)            (1,431)
                                      ---------         ---------
Cash flows from financing activities:
    Net borrowings (repayments) under
      the line-of-credit agreement.    12,391             (3,249)
    Transactions related to stock
      repurchase ...................     (386)              (535)
    Transactions related to exercise
    of common stock options, net....      171                132
                                     ---------          ---------
Net cash provided by (used for)
    financing activities.........      12,176             (3,652)
                                      --------          ---------
Net increase in cash..                    608                632

Cash at beginning of period......          93                100
                                      --------          ---------
Cash at end of period............         701           $    732
                                      ========          =========
Supplemental disclosure of cash flow
   information  Cash paid during the period
   for:
        Interest                 $        371       $        739
        Taxes                             286                 63

See notes to consolidated financial statements.

<PAGE>


           Cobra Electronics Corporation and Subsidiaries
             Notes to Consolidated Financial Statements
                                   (Unaudited)

The consolidated  financial statements included herein have been prepared by the
Company,  without audit, pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included  in  financial   statements  prepared  in  accordance  with  accounting
principles  generally  accepted  in the  United  States  of  America  have  been
condensed  or omitted  pursuant  to such  rules and  regulations,  although  the
Company  believes  that the  disclosures  are  adequate to make the  information
presented not  misleading.  It is suggested that these  financial  statements be
read in conjunction with the financial statements and the notes thereto included
in  the  Company's  latest  annual  report  on  Form  10-K.  In the  opinion  of
management,  the information contained herein reflects all adjustments necessary
to make the results of operations  for the interim  periods a fair  statement of
such  operations.  All such adjustments are of a normal  recurring  nature.  The
results of operations of any interim  period are not  necessarily  indicative of
the results that may be expected for a fiscal year.

(1) PURCHASE ORDERS AND COMMITMENTS

At  September  30,  2000,  the  Company  had  outstanding  purchase  orders with
suppliers totaling  approximately  $41.8 million compared to $31.8 million as of
September 30, 1999.

(2) EARNINGS PER SHARE

                                 For the Three            For the Nine
                                 Months Ended              Months Ended
                                  (Unaudited)               (Unaudited)
                             --------------------      --------------------
                              Sept 30,    Sept 30,      Sept 30,    Sept 30,
                                2000        1999          2000        1999
                             --------    --------       --------    --------

Income:


Income available to common
 shareholders (thousands)....  $ 1,949     $    885       $4,235       $1,755

Basic Earnings Per Share:

Weighted-average shares
 outstanding..............   6,132,164    5,980,738    6,135,719    6,024,990
                              --------     --------    ---------    ---------
Basic Earnings Per Share        $0.32        $0.15       $0.69        $0.29
                              ========     ========    =========    =========


Diluted Earnings Per Share:

Weighted-average shares
 outstanding                 6,132,164    5,980,738    6,135,719    6,024,990
Dilutive shares issuable
 in connection with
 stock option plans            894,625      370,250      894,625      691,250
Less: shares purchasable
  with proceeds               (583,398)    (273,722)    (632,284)    (554,607)
                             ----------    ---------   ----------   ---------
Total                        6,443,391     6,077,266   6,398,060    6,161,633
                             ==========    =========   =========    =========
Diluted Earnings Per Share      $0.30        $0.15       $0.66        $0.28
                             ==========    =========   =========    =========


<PAGE>


(3) NEW ACCOUNTING PRONOUNCEMENTS

In June 1998,  the  Financial  Accounting  Standards  Board issued SFAS No. 133,
"Accounting  for Derivative  Instruments and Hedging  Activities."  SFAS No. 133
establishes  accounting and reporting  standards for derivative  instruments and
for hedging activities.  It requires that an entity recognize all derivatives as
either assets or liabilities in the balance sheet and measure these  instruments
at fair  value.  This  statement  also  requires  changes  in the fair  value of
derivatives  to be  recorded  each period in current  earnings or  comprehensive
income  depending  on the intended use of  derivatives.  In June 1999,  the FASB
deferred the effective date of SFAS No. 133 to fiscal years beginning as of June
15, 2000. The Company must adopt SFAS No. 133 no later than the first quarter of
fiscal year 2001.  The Company is in the  process of  assessing  the impact that
adopting  SFAS No.  133 will  have on its  financial  position  and  results  of
operations when such statement is adopted.



<PAGE>


Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations


              ANALYSIS OF RESULTS OF OPERATIONS

Third Quarter 2000 vs. Third Quarter 1999:
--------------------------------------------
For the third quarter ended  September 30, 2000, net income was  $1,949,000,  or
$0.30 per diluted share.  This compares to net income of $885,000,  or $0.15 per
diluted share, in the third quarter of 1999.

Sales for the third quarter of 2000  increased  $4.2  million,  or 12%, to $38.6
million from $34.4  million for the same period a year ago. The increase was due
to strong sales of  MicroTALK(TM)  Family Radio Service (FRS) two-way  radios in
the United States, Canada and Europe.  Partially offsetting these increases were
lower  sales of Citizen  Band  radios  due  mainly to the impact of higher  fuel
prices on the disposable income of professional drivers.

Gross margin for the third quarter of 2000  increased to 28.2% from 24.1% in the
prior year's quarter.  The increase in margin was due to improved margins on the
new lines of MicroTALK  FRS radios and 9 Band(TM)  radar  detectors as well as a
decrease in airfreight shipments, which are more expensive than the normal ocean
shipments.

Selling, general and administrative expenses increased $1.1 million in the third
quarter of 2000 from the same  period a year ago,  and, as a  percentage  of net
sales,  increased to 19.3%  compared to 18.5% for the third quarter of 1999. The
increase  represented  higher selling costs due to the increase in sales volume,
higher accrued management incentive bonuses because of the higher profitability,
and increased costs associated with a growing international business,  including
the formation of an Irish subsidiary,  Cobra Electronics Europe Limited, with an
office in Dublin.

Interest expense for the current quarter increased $59,000 compared to the third
quarter of 1999 due to higher  average debt levels,  driven by higher  inventory
levels.

Other  expense  for the third  quarter  of 2000 was  $18,000  compared  to other
expense of $378,000 in the prior year's third  quarter.  The decrease  reflected
higher investment income on the cash surrender value of life insurance  policies
and lower expense from the third quarter of 1999 due to a settlement of a patent
infringement lawsuit in that period.

For the third  quarter of 2000,  the Company had a provision for income taxes of
$1,213,000  compared  to  $442,000  in the  third  quarter  of  1999  reflecting
primarily the substantially higher pre-tax income.



Nine Months 2000 vs. Nine Months 1999
-------------------------------------

For the nine months ended  September 30, 2000, the Company's net income was $4.2
million or $0.66 per diluted share  compared to net income of $1.8  million,  or
$0.28 per diluted share for the first nine months of 1999.

Sales for the nine months ended September 30, 2000 increased  $15.3 million,  or
19%, to $95.7 million from $80.4 million for the nine months ended September 30,
1999. The increase  represented  strong sales of MicroTALK FRS two-way radios in
the United  States,  Canada,  and Europe as well as higher sales of 9 Band radar
detectors,  introduced in the first quarter of 2000.  Partially offsetting these
increases  were lower  sales of  Citizen  Band  radios for the reason  discussed
above.

Gross margin  increased to 28.2% for the nine months  ended  September  30, 2000
from 24.7% in the prior year period.  The  increase was due  primarily to higher
margins on the new MicroTALK radios and 9 Band radar detectors.

Selling,  general and  administrative  expenses  increased  $3.1 million for the
first nine months of 2000 from the same period a year ago,  but, as a percentage
of net sales, remained flat at 20.2%. These expenses increased because of higher
variable  selling costs, as a result of the increased sales volume,  and because
of payroll related expenses.  The additional  payroll expenses included a higher
management  incentive bonus accrual because of the increased  profitability  and
higher salary,  recruitment and relocation costs for several new and replacement
positions, including a Corporate Controller and E-Commerce Director.

Interest  expense for the period decreased  $178,000  compared to the prior year
due to lower  average  debt levels and more  borrowings  under a more  favorable
LIBOR  interest  rate  option.  Other  expenses  increased  $41,000 due to lower
investment income on the cash surrender value of life insurance policies.

For the first nine months of 2000,  the Company had a provision for income taxes
of  $2,641,000   compared  to  $907,000  for  the  prior  year  because  of  the
significantly higher pre-tax income.


                         LIQUIDITY AND CAPITAL RESOURCES

Operating  activities  used cash of $9.6  million  during the nine months  ended
September  30, 2000,  primarily  due to seasonal  increases in  inventories  and
accounts  receivable,  partially offset by decreases in other current assets and
other  assets as well as an  increase  in  accounts  payable.  The  increase  in
receivables  reflected  higher third quarter  sales that  occurred  later in the
quarter  as  compared  to the  fourth  quarter  of 1999.  Inventories  increased
primarily due to purchases to support  anticipated  holiday sales.  Citizen Band
radios  inventories  increased due to lower than expected sales to  professional
drivers as a result of the  significant  increase in fuel prices.  Other current
assets  decreased  due to a  reduction  of certain  prepaid  items  relating  to
inventory in transit.  Other assets decreased due to a reduction in the deferred
tax asset for income tax net operating  loss carry  forwards.  Accounts  payable
increased due to an increase in letters of credit presented but not yet paid for
inventory  placed in transit by the  Company's  vendors.  Debt  increased  $12.4
million  during  the first  nine  months of 1999,  primarily  due to the  higher
receivables  and  inventory  levels.  At  September  30,  2000,  the Company had
approximately  $7.9  million of unused  credit line.  At December 31, 1999,  the
Company  had net  operating  loss carry  forwards  amounting  to $20.1  million.
Because of these,  the Company pays  substantially  no Federal income taxes even
though the income statement reflects a provision for income taxes.

In late August 1998,  the Company's  board of directors  authorized a program to
repurchase up to $1 million of the Company's common shares. On May 17, 1999, the
Company announced that a second repurchase  program had been approved to acquire
up to another $1 million of common stock.  During the first nine months of 2000,
the Company  spent  approximately  $386,000 to  repurchase  68,700 of its common
shares.  Since the program's  inception  through September 30, 2000, the Company
has  repurchased  387,900 of its common shares at a total cost of  approximately
$1.6 million.



Item 3 Qualitative and Quantitative Disclosures About Market Risk

The Company is subject to market risk  associated  principally  with  changes in
interest rates.  Interest rate exposure is principally  limited to the Company's
$16.5 million of debt  outstanding  at September 30, 2000. The debt is priced at
interest rates that float with the market,  which therefore  minimizes  interest
rate  exposure.  A 50 basis point  movement in the interest rate on the floating
rate debt would  result in an  approximately  $82,370  increase  or  decrease in
interest expense and cash flows.  The Company does not use derivative  financial
or commodity instruments for trading or other purposes.

The Company's suppliers are located in foreign countries, principally in the Far
East.  The  Company  made  approximately  11.3% of its sales  outside the United
States in the first nine  months of 2000.  The  Company  minimizes  its  foreign
currency exchange rate risk by conducting all of its transactions in US dollars.



<PAGE>


                                     PART II
                                OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K
-----------------------------------------

     a)  Exhibits:

         Exhibit No.      Description
         -----------      ---------------------------------------

         27               Financial data schedule required under
                          Article 5 of Regulation S-X

b)       During the quarter, the Company filed no Current Reports on Form 8-K.



                                             SIGNATURE


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                            COBRA ELECTRONICS CORPORATION



                            By    /S/ Gerald M. Laures
                                  ------------------------
                                  Gerald M. Laures
                                  Vice President - Finance,
                                  and Corporate Secretary
                                  (Authorized Officer and
                                  Principal Financial Officer)


Dated: November 13, 2000


<PAGE>