Kodak posts $119 million profit in first quarter on rising printer sales, royalties

Kodak returns to profit in 1st-Qtr, revenue rises

ROCHESTER, N.Y. — The photography pioneer Eastman Kodak Co. posted a profit in the first quarter in contrast to a loss a year ago, lifted by inkjet printer sales and royalties on digital imaging patents.

Revenue rose 31 percent, matching Wall Street expectations. But its adjusted earnings fell short of analysts’ estimates. Kodak shares fell 35 cents to $8 in pre-opening trading.

The Rochester, N.Y., company said Thursday it earned $119 million, or 40 cents a share, in the January-March period. That contrasts to a loss of $353 million, or $1.32 a share, a year earlier.

Excluding one-items items, Kodak said it earned 82 cents a share. Analysts expected Kodak to earn 90 cents per share.

Revenue rose to $1.93 billion from $1.48 billion a year ago.