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Kodak's net loss nears $200 million in first two months of 2012

Rochester Business Journal
March 30, 2012

Eastman Kodak Co. on Friday filed its first financial report that shows its post-bankruptcy operations.

The company posted a net loss of $197.6 million during the first two months of 2012, with a loss of $100.3 million in January and $97.3 million in February, a filing with the Securities and Exchange Commission states. 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 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 logged revenues of more than $312 million during the two-month period, with $168.1 million in February and $143.9 million in January.

Kodak reported cash and cash equivalents of $682.8 million as of Feb. 29.

The monthly operating reports cover the periods ending Jan. 31  and Feb. 29 and do not reflect the company’s international businesses that were not part of the bankruptcy filing on Jan. 19, the company said.

Kodak 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.

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


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