Kodak turns in a profit for the 1st quarter; sales decline

May 10, 2017
Originally published on May 9, 2017 9:49 pm

Kodak is reporting another profitable quarter.  Even though it wasn’t a large profit, the first quarter saw $7 million in net income,  that compares to a $15 million dollar loss during the same quarter a year ago.

Sales however, were down about five percent. The drop is being attributed mainly  to pricing pressures and the expected continued decline in the legacy inkjet printer cartridge business.

Revenues in the quarter totaled $357 million. CEO Jeff Clarke says overall, he is pleased with the company’s continued profitability and the strong performance of parts of the company that are key to Kodak’s growth strategy.

Kodak decided recently to retain its PROSPER inkjet business after reviewing potential offers for that unit, which is mostly based in Ohio.

CEO Jeff Clarke says overall, he is pleased with the company’s continued profitability and the strong performance of parts of the company that are key to Kodak’s growth strategy.

At Brighton Securities, George Conboy says overall, this was a pretty good quarter for the company.
 

“I’d say this quarter was a mild plus for Eastman Kodak in most of their divisions, and a fair report on the top line, where sales declined only slightly and a decent report on the profit side, so all in all, plus for Kodak," Conboy told WXXI News.