Eastman Kodak Swings to Profit From Year-Ago Loss
By: Reuters
Photography company Eastman Kodakposted a quarterly profit on continued growth in its digital business.
Fourth-quarter net income was $16 million, or 6 cents a share, compared to a loss of $46 million, or 16 cents a share.
The world's top maker of photographic film is nearing the end of a lengthy and expensive effort to transform itself into a provider of digital cameras and printing products and services.
Since late 2003, Kodak has focused on digital devices, hoping to outpace the drop in demand for film, historically its main revenue source. At the same time, it is reducing costs by cutting up to 27,000 jobs and trimming manufacturing.
Eastman Kodak will host a conference call and webcast at 11 am New York time.
Photography company Eastman Kodak posted a quarterly profit on continued growth in its digital business.
