Summary Box: Slumping film business drives Kodak’s 2nd-Quarter loss
By APWednesday, July 28, 2010
Summary Box: Kodak posts 2Q loss
RESULTS: Eastman Kodak Co. posted a second-quarter loss of $168 million, or 63 cents per share, compared with a loss of $189 million, or 70 cents a share, in the recession-mired April-June period of 2009. Sales dipped 11 percent to $1.57 billion.
REASONS: The remade picture-taking pioneer benefited particularly from a 50 percent jump in revenue from digital inkjet home printers and ink cartridges. But its traditional film business took a tumble, with earnings from operations sliding 43 percent to $29 million.
OUTLOOK: Kodak reaffirmed its 2010 target of $350 million to $450 million in operating earnings on sales ranging from $7.5 billion to $7.7 billion.
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