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Kodak Reports a Big Decline – Analyst Blog

Zacks Market Commentaries (October 29th, 2009) Writes:
Before the opening bell today, Eastman Kodak Co. (EK) posted struggling results for the third quarter in comparison to the year-ago quarter. The company reported a third-quarter loss from continuing operations of $111 million, or 41 cents per share, compared with earnings on the same basis of $101 million, or 35 cents per share in the year-ago period.   The company’s third quarter results demonstrate the success of continued focused investments that Kodak is making in new products and core growth businesses, especially consumer and commercial inkjet. Cost containment and more tightly focused spending on research and development also positively contributed to the company’s third quarter results.   Sales worldwide totaled $1.8 billion, a decrease of 26% from $2.4 billion in the prior-year period, including 2% of unfavorable foreign exchange impact. Revenues from digital businesses totaled $1.2 billion, a 26% decline from $1.6 billion in the prior-year quarter, ...

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