Tags: Kodak | Narrows | Loss | Beats | Estimates

Kodak Narrows Loss, Beats Wall Street Estimates

Thursday, 28 Oct 2010 09:17 AM

Eastman Kodak Co., the photography and printing company, narrowed its losses and beat Wall Street forecasts as demand surged for its commercial and consumer inkjet printers.

Kodak's net loss narrowed to $43 million or 16 cents per share, down 61 percent from a loss of $111 million, or 41 cents per share from a year earlier.

Excluding one-time items, the company reported a loss of 2 cents a share, which outpaced analysts' estimates of a loss of 31 cents per share, according to Thomson Reuters I/B/E/S.

Sales rose 1.3 percent to $1.76 billion, which beat analysts' average estimates of $1.61 billion.

Kodak said its sales got a boost from its inkjet printer business along with its services and packaging segments and intellectual property licensing agreements.

It maintained its full-year revenue outlook of $7.5 billion to $7.7 billion.
Shares were up 7 percent at $4.24 in premarket trading.

© 2017 Thomson/Reuters. All rights reserved.

 
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Eastman Kodak Co., the photography and printing company, narrowed its losses and beat Wall Street forecasts as demand surged for its commercial and consumer inkjet printers. Kodak's net loss narrowed to $43 million or 16 cents per share, down 61 percent from a loss of $111...
Kodak,Narrows,Loss,Beats,Estimates
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2010-17-28
Thursday, 28 Oct 2010 09:17 AM
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