Eastman Kodak expects to post a loss and a revenue drop of up to 18 percent this year, citing the weak economy, and may seek partners to finance development of technologies such as camera sensors.
Kodak , in a statement ahead of an investor meeting in New York, expects revenue to drop 12 percent to 18 percent in 2009, and a net loss from continuing operations of $200 million to $400 million.
One year ago, before the worst of the economic downturn, Kodak's outlook was much rosier. It had anticipated revenue by a compound annual growth rate 5 percent from 2008 to 2011.
The forecast comes about a week after Kodak posted a quarterly loss and said it would cut up to 4,500 jobs this year after suffering a dramatic decline in demand for digital cameras and commercial printing equipment.