November 2011

Kodak posts larger loss, warnings
Eastman Kodak warned on November 3rd, 2011, that its very survival over the next year will depend on its ability to sell its digital-imaging patents or raise extra funds by selling debt. Kodak's Q3/2011 revenue fell to US$1.46 billion from $1.76 billion a year ago, with film sales falling to just US$389 million. Consumer digital-imaging sales dropped 38% to $408 million as Kodak shifts to higher end camera models to try to offset increasing competition from smartphones and video cameras. Its third quarterly loss in a row its ninth such loss in the last three years amounted to 83 cents per share in the quarter. That compares with a loss of $43 million, or 16 cents per share, a year earlier. -- Posted Thursday, November 3, 2011 by chb