Eastman Kodak is reporting a profitable 2nd quarter, but earnings came in about half of where they were a year ago. The company earned $4 million in the quarter on a GAAP basis.
Revenues overall of $381 million were down about 10 percent compared to last year, but the company says it saw strong growth in some key product lines. Kodak now focuses on commercial printing and packaging.
At Brighton Securities, Chairman George Conboy says the company’s management team is much improved over the way it was some years ago, but he says Kodak is still facing some challenges.
“Unfortunately this was not an easy quarter for Eastman Kodak, they did have a few areas where they saw some improvement. But if you take all parts of the company together, the trend is still downward."
Kodak says it did see an increase in revenues of $1 million for its Eastman Business Park Division, compared to the same quarter last year.