Kodak Reports Larger Net Loss on Lower Revenue

Eastman Kodak reported that it has made continued performance improvement in segment profitability during the third quarter of 2012. This improvement was the result of a tightened focus on the company’s most profitable customer accounts and businesses and a substantial reduction in costs.

Kodak’s revenue of $1.018 billion in the third quarter represented a decline of 19 percent from the year-ago quarter. This reduction reflects strategic decisions to focus on profitable businesses and accounts, lower sales of traditional products, unfavorable foreign exchange impact, and soft industry demand as a result of the broader economic downturn in some businesses and regions.