Kodak losses mount on weak digital sales

NEW YORK Wed Jan 26, 2011 6:34pm IST

A Chinese man walks past a Kodak digital express shop in Beijing September 9, 2005. REUTERS/Jason Lee  LEE/TC/Files

A Chinese man walks past a Kodak digital express shop in Beijing September 9, 2005.

Credit: Reuters/Jason Lee LEE/TC/Files

Related Topics

NEW YORK (Reuters) - Eastman Kodak Co reported a far larger-than-expected loss and a 25 percent drop in revenue for the fourth quarter on weakness in digital sales and licensing.

The photography and printing company's revenue fell to $1.93 billion, missing the analysts' average forecast of $2.11 billion, according to Thomson Reuters I/B/E/S.

Kodak cited a 25 percent decline in digital revenue. Revenue at its consumer digital imaging group, which includes the licensing portfolio, fell almost 40 percent to $731 million.

The results come after a U.S. International Trade Commission judge determined on Monday that a Kodak patent claim against Apple Inc and Research in Motion Ltd is invalid. Kodak filed the complaint in January, claiming Apple's iPhone and RIM's camera-enabled Blackberry infringe its patent on a method for previewing images.

Kodak reported fourth-quarter earnings of $33 million, or 12 cents per share, from continuing operations, compared with $430 million, or $1.36 per share, a year earlier.

Excluding one-time items, the company reported a loss of 37 cent per share, missing analysts' estimates of a 2-cent loss.

Shares of Kodak were unchanged at $4.52 in trading before the market opened.

(Reporting by Jennifer Saba; Editing by Lisa Von Ahn)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-Nepal Ties

REUTERS SHOWCASE

Wipro Reaps Profit

Wipro Reaps Profit

Wipro Q1 profit up 30 pct on new contract wins   Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Tackling Food Prices

Tackling Food Prices

India to free up extra 10 million tonne wheat in open market  Full Article 

Facebook Results

Facebook Results

Facebook beats Wall Street targets, stock hits record high  Full Article 

Struggling Economies

Struggling Economies

Asian economies to struggle on weak export demand - Reuters poll  Full Article 

Mining Roadblock

Mining Roadblock

Coal India's plans for 20 mines hit by land, environment delays  Full Article 

Power Jolt

Power Jolt

UAE's TAQA pulls out of India power plant deal with Jaiprakash  Full Article 

Factory Sector

Factory Sector

China July HSBC flash PMI at 18-month high of 52.0   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage