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Kodak loss in January 40% lower than a year ago

Rochester Business Journal
March 1, 2013

Eastman Kodak Co. on Thursday reported a net loss of $58.1 million in January on sales of $127.9 million for its companies in bankruptcy. Its loss from continuing operations totaled $57.2 million.

The net loss for January is down from $100.3 million in January 2012 on sales of $143.9 million.

Kodak had reported a net loss in December of $272.4 million on sales of $152.1 million. Its loss from continuing operations totaled $272 million.

The company listed cash and cash equivalents of $279.6 million on Jan. 31, down from $337.2 million on Dec. 31 and compared with $682.8 million on Feb. 29, 2012.

The financials are contained in monthly operating reports filed with the U.S. Bankruptcy Court to show asset use and cash for the U.S. units of Kodak that are in Chapter 11. The company filed for bankruptcy Jan. 19, 2012. It aims to emerge from bankruptcy in the first half of 2013.

The reports include costs that Kodak is responsible for companywide, but do not reflect its international businesses that were not part of the bankruptcy filing.

Kodak cautions that the monthly reports are prepared solely to comply with the bankruptcy court’s reporting requirements. They are unaudited and were not prepared in accordance with generally accepted accounting principles.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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