Kodak turns around
Source: Agencies |
April 30, 2010, Friday
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Print Edition
Print Edition
EASTMAN Kodak Co said yesterday it posted a US$119 million profit in the first quarter in contrast to a steep loss a year ago, lifted by inkjet printer sales and a settlement deal with Samsung Electronics Co over disputed digital-imaging technology.
Revenue rose 31 percent, matching Wall Street expectations. But its adjusted earnings fell short of analysts' estimates.
The photography pioneer said it earned 40 cents a share, in the January-March period. That compares with a loss of US$353 million, or US$1.32 a share, a year earlier.
Excluding one-time items of US$137 million, or 42 cents a share, Kodak said it earned 82 cents a share. Analysts expected Kodak to earn 90 cents per share.
Revenue rose to US$1.93 billion from US$1.48 billion, boosted by a one-time licensing payment of US$550 million from Samsung. It also benefited from a 27 percent jump in sales of consumer inkjet printers and ink.
Digital sales rose 55 percent to US$1.5 billion from US$972 million in last year's first quarter. The segment notched an operating profit of US$393 million against an operating loss of US$217 million a year earlier.
Revenue rose 31 percent, matching Wall Street expectations. But its adjusted earnings fell short of analysts' estimates.
The photography pioneer said it earned 40 cents a share, in the January-March period. That compares with a loss of US$353 million, or US$1.32 a share, a year earlier.
Excluding one-time items of US$137 million, or 42 cents a share, Kodak said it earned 82 cents a share. Analysts expected Kodak to earn 90 cents per share.
Revenue rose to US$1.93 billion from US$1.48 billion, boosted by a one-time licensing payment of US$550 million from Samsung. It also benefited from a 27 percent jump in sales of consumer inkjet printers and ink.
Digital sales rose 55 percent to US$1.5 billion from US$972 million in last year's first quarter. The segment notched an operating profit of US$393 million against an operating loss of US$217 million a year earlier.
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