Kodak Posts 1st Quarter Loss; Company Says Solid Growth In Key Product Lines
Kodak is reporting a $36 million loss in its first quarter. At this time last year, the company was still in Chapter 11 bankruptcy, but the company says on a comparable basis, its loss last year was a lot larger, it would have been $85 million.
Kodak is also reporting first quarter sales that declined 19 percent. The company attributes more than half of that to continuing declines in film and consumer inkjet products.
Its new CEO Jeff Clarke, says the company's transformation is continuing, and he says the gains it has made in its technology business are being offset by the steep declines in the older businesses. But Clarke also says they saw significant increases in sales for its key new products in packaging and digital printing.
Kodak is now mainly focused on commercial printing and packaging.