WXXI AM News

Kodak

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.

The long-term future of Kodak Alaris is somewhat up in the air, according to a story in a trade publication and comments from the company itself.

The story in the Australian publication, Inside Imaging, notes that the company, which was spun off from Eastman Kodak several years ago, might be split up and sold.

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.

Eastman Kodak

Eastman Kodak is announcing some new products. They include products that Kodak is licensing its name for in conjunction with other companies that are actually helping to manufacture the items.

They include the Kodak Portrait 3D printer; Kodak has worked on that product with a company called Smart International, which has developed a product described as being positions for the 3D desktop professional market.

Eastman Kodak has announced a buyer for its Flexographic Packaging division.

The company had announced last summer it was looking to sell that division and on Monday announced it will be sold to a London-based private equity firm, Montagu Private Equity. Kodak expects to gain up to $390 million from the sale, and it will use the proceeds to pay down outstanding debt.

Under the new ownership, that divison will keep the same management with Chris Payne, who has been president of the division, named as the CEO of the new company.

Eastman Kodak is reporting some improvement in earnings for its 3rd quarter. But the company still faces some big challenges.

Kodak saw net profits of $19 million for the quarter, better than the loss they saw at this time last year, but company officials say after certain one–time charges are taken into account earnings were basically flat.

Sales overall, fell. Revenues of $366 were down $13 million from a year ago.

Eastman Business Park

There is new leadership coming to the Eastman Business Park.

Kodak announced on Thursday that Dolores Kruchten is retiring from her position as leader of the business park and Kodak Corporate Real Estate.

Kruchten has had a 36-year career as a senior executive with Kodak. She took over as Vice President of the business park in 2015.

Eastman Kodak/Kodak Alaris

Eastman Kodak and Kodak Alaris (the company that was spun off from Kodak some years ago) have announced the availability of the Kodak Ektachrome Film line.

That’s a film that had been around for years, and among other things was used to make color film slides.

With the shift to digital, the film has been out of production for several years, but the company had announced in early 2017 it was bringing it back, and this week it began to be available for shipping. The film is being produced at the Eastman Business Park in Rochester.

Pages