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Kodak posts net loss for December

By MIKE DICKINSON - 1/31/2013 4:17:25 PM

Eastman Kodak Co. on Thursday reported a net loss in December of $272.4 million on sales of $152.1 million for its companies in bankruptcy. Its loss from continuing operations totaled $272 million.

The company listed cash and cash equivalents of $337.2 million on Dec. 31, down from $510.2 million on June 30 but up from $274.1 million in Nov. 30.

Kodak had reported a net loss of $60.8 million on sales of $162.9 million in November for its companies in bankruptcy. Its loss from continuing operations that month totaled $59.7 million.

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.

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.

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