It was another down quarter for Eastman Kodak. The company, which filed for bankruptcy protection in January, lost $366 million in the first three months of the year. Revenues also fell 27% to $965 million.
Democrat and Chronicle business reporter Matt Daneman says much of the drop in revenues can be attributable to losses in Kodak's Consumer Segment, as it gets out of the digital camera business.
Daneman says as Kodak gets out of the digital camera business, profitability is expected to improve in subsequent quarters, because Kodak won't have the costs associated with that business.
Kodak says it reduced selling and administrative costs by $84 million compared to a year ago. Kodak filed for Chapter 11 protection in January.
