Eastman Kodak is reporting higher profits in its 4th quarter and for the 2022 fiscal year overall in a financial filing this week.
The company saw net profits of $7 million for the quarter, compared to a loss for the same period last year.
For the full year, Kodak saw an 8% increase in profits, with net income of $26 million for the year overall.
Revenues for the 4th quarter totaled $305 million which was down slightly from the same period last year.
Full-year revenues in 2022 of $1.2 billion, topped the 2021 sales of $1.15 billion.
Kodak Executive Chairman and CEO Jim Continenza said the company “delivered strong performance in 2022, growing revenue in consecutive years for the first time in decades,” launching new products and investing in the company’s future despite ongoing inflationary and supply chain challenges.
Kodak now focuses on manufacturing for the printing and packaging sectors and also is working on growing its advanced materials & chemicals business.
At Brighton Securities, Chairman George Conboy said although Kodak is a much smaller company than it used to be, it is turning in positive numbers in recent financial reports.
“Though Kodak is small, what they’re doing, they’re doing very well, and they’re doing it profitably.”
