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Eastman Kodak

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Eastman Kodak is reporting a net loss of $5 million in its third quarter. That compares to a profit of $19 million at this time last year.

Revenues for the most recent quarter were at $315 million, down from $329 million last year.

Kodak Executive Chairman Jim Continenza says that looking ahead to 2020, Kodak will focus on generating cash “by growing profitable revenue, making smart investments and eliminating unnecessary spending.”

The state Department of Environmental Conservation has released a proposed plan to clean up parts of the Genesee River that were polluted by Eastman Kodak operations decades ago.

It will host a public meeting on the proposal from 6 to 8 p.m. Oct. 23 at the Central Library of Rochester and Monroe County's Rundel building, 115 South Ave.

Eastman Kodak is out with its 2nd quarter earnings report, and the company is reporting an increase in profits and a drop in sales.

Net earnings of $201 million were a lot higher than the profits of $4 million a year ago. But that is due mostly to the gain realized from the sale of the company’s Flexographic Packaging Division.

At Brighton Securities, George Conboy notes that without the sale off that division, Kodak would have seen a $ 6 million loss.

Randy Gorbman / WXXI News

With the 50th anniversary of the Apollo 11 moon landing on Saturday, Eastman Kodak is celebrating its part in that historic event.

Kodak had an important role in the Apollo million, including designing the cameras that helped map potential landing sites prior to the 1969 moon landing,

The company invited retirees who worked on that program to the Kodak Center on West Ridge Road on Friday to do some reminiscing.

Among them, Robert Shanebrook, who worked on the camera the Apollo 11 astronauts used to photograph rocks and other features on the lunar surface.

NASA

On May 25, 1961, President John F. Kennedy announced that the United States would commit to a lunar landing by 1970 before a special joint session of Congress.

That ambitious goal set off a scramble that required an enormous effort by scientists, engineers, astronauts, and many others as the U.S. tried to respond to the Soviet Union’s early accomplishments in the so-called "space race."

Eastman Kodak has completed the sale of the Flexographic Packaging Division to Montagu, a London-based private equity firm.

That sale will net Kodak about $320 million, which it will use to pay down debt. As the company previously announced, the leadership team for the division will continue to directly manage the business, which will now be called Miraclon. Chris Payne, who had been president of the division, will now be CEO for Miraclon.

Eastman Kodak is reporting its financial results for 2018.  The company’s report, released on Monday, shows a net loss of $16 million for the year, compared to earnings of $94 million the previous year.

In terms of sales, revenue for 2018 totaled $1.3 billion compared to $1.4 billion in the previous year.

In February, Kodak announced that after nearly five years as CEO, Jeff Clarke was stepping down from that role.

www.kodak.com

A major change at Eastman Kodak. The company announced late Wednesday afternoon that after nearly five years as CEO, Jeff Clarke is stepping down from that role.

In a statement, "It was a privilege to lead Kodak during a time of transition and am pleased to leave the Company in a position of strength after the execution of the agreement to sell our Flexographic Packaging Division. The Board and I mutually agreed that now is the time to hand the reins to new leadership, and I am confident that Jim is the right leader to take the Company to the next phase of its transformation."

Photo Credit: Miller Mobley / © 2015 Paramount Pictures. All rights reserved.

The 3rd Annual Kodak Film Awards were held in downtown Los Angeles on Friday.

Academy Award winning writer/director/producer Adam McKay was the first recipient of the KODAK Lifetime Achievement Award, which recognizes an individual who has created an extraordinary body of highly successful and internationally acclaimed motion picture art during their career.

McKay’s VICE, a film about former Vice President Dick Cheney’s rise to VP has received 8 Academy Award, 6 BAFTA and Golden Globe nominations and marks his 6th feature shot on 35mm film.

www.kodak.com

Kodak is getting ready to take the wraps off a new visitor center showcasing the company’s rich history.

Eastman Kodak says on Thursday, it will have a grand opening for something it really hasn’t had before…a visitor center.

It will be housed in the lobby of the Kodak Center on West Ridge Road.  That’s the cavernous building that used to be called Theater on the Ridge, which opened in  1959 with a large auditorium cafeterias, and meeting rooms.

A few years ago, it was re-named and re-purposed, and now it hosts a variety of entertainment-oriented events.

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