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Kodak

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Eastman Kodak has won a $765 million dollar government loan to help expedite domestic production of pharmaceuticals.  The story was first reported by the Wall Street Journal which quotes Kodak Executive Chairman Jim Continenza as saying he expect the loan to create about 300 jobs in Rochester, and 30 to 50 jobs in Minnesota.

Federal officials are expected in Rochester late Tuesday afternoon for the official announcement.

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Eastman Kodak is reporting first-quarter financial results, and they show a decline in both earnings and revenues.

The company saw a net loss of $111 million, compared to an $18 million loss a year ago. Kodak says the change is due in part to tax related charges for locations outside the U.S.

Revenues came in at $267 million, down from $291 million a year ago.

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Eastman Kodak is reporting its earnings and sales for 2019, and it’s a mixed picture. Earnings of $116 million were reported on Tuesday, compared to a loss of $16 million a year ago.

Revenues totaled $1.2 billion, a drop of 6% compared to last year.

In the latest WXXI Business Report, Xerox is still pursuing HP, and is now increasing its acquisition offer for the company. Plus, a new report from Paychex shows continued wage growth among small businesses, and Kodak had a strong presence at Sunday's Oscars.

In the latest WXXI Business Report, Kodak will continue providng film to the major Hollywood studios, find out how important that relationsihp is to the comapny. 

Plus, even though there was job growth over the last year in Rochester, the latest monthly unemployment rate went up slightly. Also, get details on Bausch + Lomb teaming up with a non-profit organization to raise awareness about age-related macular degeneration.

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Kodak has been hiring some people over the last couple of years. And many of those positions involve the company’s legacy, the film business.

Kodak recently revealed that it has signed long-term contracts to keep supplying motion picture film to the major Hollywood studios, including Disney, NBCUniversal, Paramount, Sony and Warner Bros.

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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.”

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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.

In the latest WXXI Business Report, a new survey of business leaders by the New York Federal Reserve shows continued expansion in the service sector. Plus, Kodak talks about a new Netflix series, Hyperdrive, which features fast cars running an obstacle course at the Eastman Business Park, and the University of Rochester gets a $1.5 million grant to work on quantum computing.

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.

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