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:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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