Kodak posts $168 million loss in second quarter as sales drop 11 percent

Kodak posts 2Q loss of $168M

ROCHESTER, N.Y. — Eastman Kodak says its loss narrowed to $168 million in the second quarter thanks to strong inkjet printer sales, but adjusted earnings fell short of Wall Street expectations as overall sales slid 11 percent.

The photography and printing company said Wednesday it lost the equivalent of 63 cents a share in the April-June period. That compared with a loss of $189 million, or 70 cents per share, a year earlier.

Sales dropped to $1.57 billion from $1.77 billion.

Excluding one-items items, Kodak says it lost $136 million, or 51 cents per share.

Analysts polled by Thomson Reuters, whose estimates typically exclude one-time items, expected Kodak to lose 31 cents per share on sales of $1.69 billion.