Originally published at www.seclive.com
Filing in Focus: Eastman Kodak 10-Q, November 12, 2013
Eastman Kodak Co. (KODK) announced its financial results for the third fiscal quarter of 2013, reporting a positive quarter. The company filed for Chapter 11 bankruptcy in January 2012 and it was during this most recent quarter that Kodak ended its 20-month bankruptcy. Excluding expenses like taxes and depreciation, the company posted a $3M operational profit, up from a $312M loss a year ago. Kodak is now a much more slim company, as it sold its Document Imaging business and utility operations, and expects 2013 to be the year it bottoms out financially before making headway upward. Revenue this quarter was down 15% to $563M while it reported a net loss of $155M, better than its $312M loss reported last year. CEO Antonio Perez commented that the company is on track and making progress, and is pleased with the positive feedback it has received from customers.
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