Tags: Kodak Losses Mount on Weak Digital Sales

Kodak Losses Mount on Weak Digital Sales

Wednesday, 26 Jan 2011 08:00 AM

Eastman Kodak Co. reported a far larger-than-expected loss and a 25 percent drop in revenue for the fourth quarter on weakness in digital sales and licensing.

The photography and printing company's revenue fell to $1.93 billion, missing the analysts' average forecast of $2.11 billion, according to Thomson Reuters I/B/E/S.

Kodak cited a 25 percent decline in digital revenue. Revenue at its consumer digital imaging group, which includes the licensing portfolio, fell almost 40 percent to $731 million.

The results come after a U.S. International Trade Commission judge determined on Monday that a Kodak patent claim against Apple Inc and Research in Motion Ltd is invalid. Kodak filed the complaint in January, claiming Apple's iPhone and RIM's camera-enabled BlackBerry infringe its patent on a method for previewing images.

Kodak reported fourth-quarter earnings of $33 million, or 12 cents per share, from continuing operations, compared with $430 million, or $1.36 per share, a year earlier.

Excluding one-time items, the company reported a loss of 37 cent per share, missing analysts' estimates of a 2-cent loss.

Shares of Kodak were unchanged at $4.52 in trading before the market opened.

© 2017 Thomson/Reuters. All rights reserved.

1Like our page
2Share
Companies
Eastman Kodak Co. reported a far larger-than-expected loss and a 25 percent drop in revenue for the fourth quarter on weakness in digital sales and licensing. The photography and printing company's revenue fell to $1.93 billion, missing the analysts' average forecast of...
Kodak Losses Mount on Weak Digital Sales
186
2011-00-26
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved