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Kodak reports Q1 net earnings

May 15, 2017

The company reported its Q1 2017 net earnings of $7 million (€with continued growth in key product areas of KODAK SONORA Process Free Plates, KODAK FLEXCEL NX Packaging and KODAK PROSPER Inkjet businesses.

As reported by Business Wire Eastman Kodak Company reported GAAP net earnings of $7 million for the quarter ended March 31, 2017, an improvement of $22 million compared with the quarter ended March 31, 2016.

Revenues for the quarter of $357 million compared with revenues of $377 million for the first quarter of 2016, down $20 million or 5 percent.

The company ended the first quarter with a cash balance of $378 million, a decrease in cash of $56 million for the first quarter of 2017.

Key product lines achieved strong growth for the quarter:

  • Annuities revenue for KODAK PROSPER Inkjet grew by 26 percent.
  • Volume for KODAK SONORA Process Free Plates grew by 24 percent.
  • Volume for KODAK FLEXCEL NX Plates grew by 22 percent.

 “I’m pleased with our continued profitability and by the strong performance of our growth engines — SONORA Plates, FLEXCEL NX Packaging and the PROSPER Inkjet business” said Jeff Clarke, Kodak Chief Executive Officer. “We expect continued strong execution in these growth businesses, which will continue to increase our quality of earnings.”

 

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