This Week
  • Wright Beverage Distributing has expanded again with an acquisition.

  • Employee Relations Associates has expanded services, reach.

  • Patience helped Joseph Morelle rise in the ranks to state Assembly majority leader.

  • Owners of nearby businesses welcome UR’s College Town development.

  • Shaina Sidoti's firm makes nutritious dishes that have helped her heal.

  • Area exporters starting 2014 with a sense of momentum.

Kodak alerts creditors of projections through 2017

Rochester Business Journal
January 22, 2013

Eastman Kodak Co. projects net sales of $2.5 billion and earnings before interest, taxes, depreciation and amortization of $167 million this year. It sees net sales and EBIDTA rising to $3.2 billion and $494 million respectively by 2017.

The former camera giant posted those figures Tuesday in a presentation for creditors in its ongoing Chapter 11 bankruptcy.

The projections, which reflect expected sales and costs in Kodak’s graphics, entertainment and commercial film, digital printing and enterprise and intellectual property and brand licensing divisions, are based on currently available numbers. They are not intended to a guide for shareholders or meant to be an official Securities and Exchange Commission filing, the company said in a Jan. 22 statement filed with the SEC.

In the roughly 12 months since it sought court protection to reorganize, Kodak has made “substantial progress” toward its reorganization goals of gaining access to liquidity, resolving legacy costs, selling off non-core intellectual property and trimming itself down to its most valuable business lines, the company said in the creditor presentation.

Since filing a Chapter 11 petition last year, Kodak has secured a more than $800 million commitment from lenders to finance its reorganization and recently won court approval to sell an intellectual property portfolio—initially valued at some $2 billion—for $575 million. Kodak also dropped health coverage for retirees and has stopped selling consumer inkjet printers but has said it would keep selling supplies.

The full Kodak presentation is available at http://investor.kodak.com.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail 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