Kodak's Third Quarter Financials

Date: February 10, 2010

Rochester, NY -- According the Rochester Democrat and Chronicle, Kodak suffered a very bad third quarter of 2009 and is already looking with anticipation towards the final quarter of the year. From January to September of this year, Kodak has suffered losses totaling around $653 million. In this quarter, Kodak only managed $1.78 billion in sales which is 26% lower than the third quarter of last year. Kodak believes that 2 percent of the decline can be attributed to exchanges rates with foreign currency. Previously, Kodak had predicted a loss in revenue of 12 to 18 percent, but after viewing the results of the third quarter, Kodak believes it will be much closer to 18 percent. To keep it at that rate of loss, Kodak must reach a total of $7.7 billion in sales. This year thus far, they have totaled $5 billion, leaving them needing to do about $1 billion more this quarter than last.

Despite the figures, Kodak remains hopeful; traditionally the fourth quarter is the company’s strongest. They are also anticipating increased demand for digital printing plates. The printer division’s AIO machines have actually been one of the company’s strongest performers thus far. The total revenue for the machines is up 128% from last year. Kodak feels that printers won’t become truly profitable until 2011 at the earliest.

BY ADAM HAIGH, Editor