Kodak is out with its fourth quarter numbers, and the company is posting a net loss $41 million. But that's an improvement from the $57 million loss the company saw a year ago.
Sales were down about 13 percent, dropping to $529 million. The company says that is primarily due to a decline in film sales and foreign exchange rates.
CEO Jeff Clarke says Kodak, which has been out of Chapter 11 for about a year and a half now, made significant progress in the latest numbers in improving productivity and reengineering its cost structure.
Kodak now focuses on commercial packaging and printing and spokesman Chris Veronda says the company is seeing growth in some key technologies including its printing plates and Kodak Prosper Presses.
At Brighton Securities, George Conboy says considering all the changes the company has gone through, at least there is some improvement in this quarterly report.
"I’d love for Kodak to be profitable, the fact is they're still losing money, but at least they're losing less money, losing less is an improvement and it's on track to getting where they need to be"
Kodak released numbers on its employment as of the end of last year. In Rochester, it employed about two thousand people down 400 from a year ago.
