This Week
  • DHD Ventures plans to spend $20 million to renovate two city buildings.

  • Technology and other factors have brought big changes to commercial building.

  • From Morocco, Joseph Squalli traveled far to become Rooney's Restaurant owner.

  • Gates Automotive Centers grows by connecting with customers.

  • RocMusic director Alexander Pena rallies young music makers.

  • Challenges mount for area companies that do business in Russia.

Kodak reports smaller loss, but less cash in May

Rochester Business Journal
June 29, 2012

Eastman Kodak Co. on Friday filed its latest monthly operating report with the Bankruptcy Court.

The company, which filed for bankruptcy Jan. 19, reported $173.6 million in revenues and a net loss of $88.3 million for period of May 1 to May 31. It listed cash and cash equivalents of $574.2 million on May 31.

That compares with $156 million in revenues and a net loss of $91.3 million for period of April 1 to April 30. It listed cash and cash equivalents of $617.6 million on April 30.

The company reported revenues of $108.6 million and a net loss of $128.7 million for March. It listed cash and cash equivalents of $661 million as of March 31. Kodak had reported cash and cash equivalents of $682.8 million as of Feb. 29.

The financials are contained in monthly operating reports filed to show asset use and cash for the U.S. entities of Kodak that have filed for Chapter 11. The company has said the reports include costs which Kodak is responsible for companywide. The monthly reports are not comparable with typical quarterly financial reports, Kodak said.

The company has not provided comparison with the prior year on a comparable basis.

Kodak has cautioned that the report was prepared solely for complying with the bankruptcy court’s monthly reporting requirements. The reports have not been audited and were not prepared in accordance with generally accepted accounting principles.

On that reporting basis, Kodak’s cash and cash equivalents have fallen to $574.2 million on May 31 from $682.8 million as of Feb. 29.

The early part of the year, particularly the first quarter, traditionally is when Kodak burns cash. It typically generates most of its cash in the fourth quarter.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google