KODAK Q1 SALES OF INKJET PRINTERS AND INK UP 27%

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KODAK Q1 SALES OF INKJET PRINTERS AND INK UP 27%

 user 2010-05-03 at 11:23:16 am Views: 108
  • #23820
    http://www.forbes.com/feeds/ap/2010/04/29/business-mobile-telecommunications-us-earns-eastman-kodak_7560256.html
    SALES OF INKJET PRINTERS AND INK UP
    27% AT KODAK

    Kodak
    returns to profit in 1st-Qtr, revenue rises

    ROCHESTER, N.Y. — Eastman Kodak Co. said Thursday it posted a
    $119 million profit in the first quarter in contrast to a steep loss a
    year ago, lifted by inkjet printer sales and a settlement deal with
    Samsung Electronics Co. over disputed digital-imaging technology.Revenue
    rose 31 percent, matching Wall Street expectations. But its adjusted
    earnings fell short of analysts’ estimates.Kodak shares fell 48 cents,
    or 5.7 percent, to $7.87 in pre-opening trading.The photography pioneer
    said it earned 40 cents a share, in the January-March period. That
    compares with a loss of $353 million, or $1.32 a share, a year
    earlier.Excluding one-time items of $137 million, or 42 cents a share,
    Kodak said it earned 82 cents a share. Analysts expected Kodak to earn
    90 cents per shareRevenue rose to $1.93 billion from $1.48 billion,
    boosted by a one-time licensing payment of $550 million from Samsung. It
    also benefited from a 27 percent jump in sales of consumer inkjet
    printers and ink.