Rochester Business Journal

Eastman Kodak Co.'s latest monthly operating report with the U.S. Bankruptcy Court, filed Monday, shows an increase in revenues and net loss.

The company, which filed for bankruptcy Jan. 19, reported a net loss of $160.1 million on revenues of $180.2 million for the period of June 1 to June 30. That compares with $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 $510.2 million on June 30, down from $574.2 million on May 31 and $617.6 million on April 30.

The financials are contained in monthly operating reports filed to show asset use and cash for the U.S. entities of Kodak that are in Chapter 11. The reports include costs that Kodak is responsible for companywide.

The monthly reports are not comparable with typical quarterly financial reports, Kodak said, and the company does not provide comparison with the prior year on a comparable basis.

Kodak cautions that the monthly reports are prepared solely to comply with the bankruptcy court's reporting requirements. The reports have not been audited and were not prepared in accordance with generally accepted accounting principles.

Kodak intends to begin the sale of two portfolios of digital patents this week, aiming to raise billions of dollars by selling its digital capture and Kodak imaging systems and services patent portfolios.

That sale process is expected to begin Aug. 8, with a goal of announcing the buyer by Aug. 13.

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