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Kodak posts smaller second-quarter loss

Rochester Business Journal
August 5, 2014

The company, which emerged from bankruptcy in September, posted net loss of $62 million in the quarter, a $162 million improvement from the $224 million net loss a year ago.

Revenue fell 10 percent to $525 million, from $583 million. Kodak attributed more than two-thirds of the drop to declines in the consumer inkjet and entertainment and commercial films businesses.

“Our progress continues. Kodak’s overarching imperative is to achieve the growth potential of our strategic technology businesses,” CEO Jeffrey Clarke said in a statement. “Our products in packaging, digital printing, digital plates and workflow software form the foundation of the new Kodak, and are meeting our expectations for sales and margin growth.

“We have taken significant steps to simplify processes and reduce costs,” he added, “which also will contribute to Kodak’s longā€term success.”

Liquidity remains strong with cash of $768 million, the company said. Kodak expects it will meet full-year revenue projections for 2014 of $2.1 billion to $2.3 billion.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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