Kodak Reports 17 Percent Decrease in Revenues
Third-quarter sales were $1.462 billion, a 17 percent decrease from the year-ago quarter or only 5% when excluding the benefit of a $210 million non-recurring patent licensing transaction in the year-ago period. Third-quarter digital revenue grew 3 percent excluding that year-ago intellectual property revenue and a 25 percent decline in the company's Digital Cameras & Devices business, which reflects the strategic decision this year to trade revenue for improved earnings. Revenue from the core digital growth businesses - Consumer and Commercial Inkjet, Workflow Software & Services, and Packaging Solutions - increased 13 percent, fueled by 44 percent revenue growth in Consumer Inkjet printers and ink, and 89% revenue growth in Packaging Solutions. The revenue decline rate for the company's Film, Photofinishing and Entertainment Group slowed to 10% in the third quarter.
- Companies:
- Eastman Kodak Co.
- People:
- Antonio M. Perez