Kodak back in profit

Kodak’s latest Q3 figures show net earnings of $19m, marking a welcome return to profit for the company since its chapter 11 bankruptcy. Operational EBITDA increased to $89 million in the third quarter from $42 million in the previous-year quarter.

“Our first profitable quarter since our emergence is a milestone,” said Jeff Clarke, Chief Executive Officer. “Strategic technology product areas, especially in our graphics business, are showing momentum, and we continue to invest significantly in our technology and to build our installed base.

Sales in the quarter were $564 million, up $1 million from the previous-year quarter, despite declines totaling $43 million in the Consumer Inkjet and Entertainment Imaging films mature businesses.

But the Graphics, Entertainment & Commercial Films (GECF) division saw revenue of $400m, 13 percent up from $353m in the previous year, and gross profit of $102m, a significant improvement on the $44m from the same quarter of 2013. CtP devices and plates, as well as the Flexcel NX system are still growing. Kodak claims that the number of pages printed via its Prosper inkjet systems have doubled, though digital printing declined from $6 million in the 2013 third quarter to zero in the 2014 quarter, which Kodak blames on a drop in consumer inkjet ink sales.

Chief Financial Officer John McMullen said, “Kodak is on track to meet guidance for 2014 revenue of $2.1 to $2.3 billion and Operational EBITDA of $145 to $165 million. Liquidity remains strong, with a cash balance of $744 million.”

However, Clarke pointed out that Kodak is still operating close to its breakeven point, adding: “While our costs are down, we will continue to re-engineer processes, streamline our organization, and improve execution and accountability to accelerate and broaden our momentum.”


Posted

in

,

by

Syndicate content

You can license the articles from Printing and Manufacturing Journal to reproduce in other publications. I generally charge around £150 per article but I’m open to discussing this for each title, particularly for publishers that want to use multiple stories. I can provide high res versions of images for print publications.

I’m used to working with overseas publishers and am registered for VAT with the UK’s HMRC tax authority but obviously won’t charge VAT to companies outside the UK. You can find further details and a licensing form from this page, or just contact me directly here.

Support this site

If you find the stories here useful then please consider making a donation to help fund Printing and Manufacturing Journal, either as a one-off or a repeat payment. Journalism is only really useful if it’s truly independent and this is the only such news source serving the print/ manufacturing sectors.

However, there are costs involved in travelling to cover events, as well as maintaining this site, not to mention the time that it takes to carry out research, check facts and interview people. So if you value this work, then please help to maintain it and keep it free to read.

Subscribe

Never miss a story – subscribe to Printing and Manufacturing Journal to receive an email notification every time an article is published here. It’s completely free of charge and you can cancel the subscription at any point without any hassle. There’s no need to provide any information other than an email address and subscribers details are not for sale so there’s no risk of any further marketing spam.

Related stories

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *