Summary Box: Kodak posts narrower 3Q loss

AP News
Posted: Oct 28, 2010 2:38 PM
Summary Box: Kodak posts narrower 3Q loss

RESULTS: Eastman Kodak Co. posted a third-quarter loss of $43 million, or 16 cents per share, compared with a loss of $111 million, or 41 cents a share, in the July-September period of 2009. Sales dipped 1 percent to $1.76 billion.

REASONS: The photography pioneer benefited particularly from a $210 million gain from a licensing agreement with an undisclosed digital-camera competitor. But its traditional film and photofinishing business took a tumble, with earnings from operations sliding from $47 million to $20 million.

OUTLOOK: Kodak reaffirmed its 2010 target of $350 million to $450 million in operating earnings on sales ranging from $7.5 billion to $7.7 billion.