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 user 2008-01-30 at 4:23:00 pm Views: 37
  • #18953

    Kodak posts higher profit on digital sales
    YORK  – Eastman Kodak Co on Wednesday its fourth-quarter profit rose,
    driven by sales of digital products such as cameras and inkjet printers.

    income came to $215 million, or 71 cents per share, compared with a
    year-earlier profit of $16 million, or 6 cents per share.Excluding
    special items related to restructuring and other one-time factors, the
    profit was 41 cents a share, falling short of analyst expectations of
    52 cents a share, according to Reuters Estimates.

    revenue rose 4 percent to $3.22 billion, exceeding Wall Street analyst
    view of $3.10 billion.Analyst and investors have found it difficult to
    evaluate Kodak’s financial well being as it is growing in some areas,
    such as commercial and consumer printing, while shedding employees and
    capital in other segments.The photography company is carrying out a
    lengthy and expensive effort to transform itself into a maker of
    digital cameras and printing services. But analysts have expressed
    concern over the degree to which it still relies on traditional film
    sales.The Rochester, New York, company said digital revenue rose 15
    percent, while traditional product sales fell 15 percent. Sales of
    consumer inkjet printers, an important growth area exceeded the
    company’s 2007 goal of 500,000 units, Kodak said.