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Kodak Sees 2009 Loss, Revenue Down 12-18%

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.

Eastman Kodak company headquarters.
AP
Eastman Kodak company headquarters.

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.