Kodak enjoys healthy third quarter
November 3, 2010
Kodak Company posted its third quarter results revealing significant growth for the firm’s portfolio.
In a published report, the company saw major success in the digital arena with operating efficiency improving and the completion of a recent property licensing deal. These factors combined led to year-on-year improvements for Kodak with increases in profitability and cash generation.
In all, the firm’s third-quarter sales amounted to nearly $1.8 billion. However, compared to the same quarter the previous year, the results were one per cent less than performances in 2009. Third quarter revenues for Kodak’s digital businesses jumped 10 per cent, reflecting increasing market demands for commercial and consumer inkjet items, workflow software and packaging solutions.
Yet, faring best of all was Kodak’s commercial digital printing business, which rose 13 per cent including a 23 per cent growth spurt in its commercial inkjet printing. This marks the fourth consecutive quarter that Kodak’s digital portfolio has enjoyed profit increases.
Worst off was Kodak’s Film, Photofinishing and Entertainment leg, however, which fell 25 per cent in market value. Chief executive Antonio M Perez said that Kodak’s third quarter performance saw the continued acceleration of the firm’s digital growth businesses. He added that investors would be impressed by the company’s sales for its Inkjet models and Workflow Software and Services.
Pre-tax revenues for the firm totaled $58 million. The amount is considerable, since this tame last year, the firm took a hard hit when it went $80 million into the red during the worst of the economic downturn.
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