toggle

AAPL Stock: 130.28 ( -1.5 )

Printed from http://www.macnn.com

Kodak sees losses grow to $366m as reorg, lawsuits continue

updated 11:20 am EDT, Fri April 27, 2012

Kodak still far from profit

Kodak saw mixed performance on Friday as it fought to get back to profitability. Although it now had a cash balance of $1.4 billion, up from $500 million in a pre-bankruptcy fall 2011, its losses widened from $246 million to $366 million. The deeper impact was pinned on restructuring costs as the company hoped to sell off money-losing divisions.

Its revenue dropped 27 percent from a year ago, to $965 million, as it eliminated the camera business that had defined the company for much of its life.

Losses are likely to shrink as the reorganization costs go down. The company's position is still uncertain, as it will have few businesses outside of printers if and when it exits bankruptcy.

Much of Kodak's fate could still ride on lawsuits. A successful exit from bankruptcy would see it face an on-hold Apple lawsuit Kodak has also been suing Apple, Samsung, and HTC in an attempt to restore its financial position through patent disputes. Similar attempts to extract royalties from Apple and RIM failed and might reflect Kodak's legal future.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Notti smart lamp from Witti

Perhaps you've already seen our review of the Dotti LED display from Witti Design. Meet Notti, Dotti's "sibling". Notti is a softb ...

Seagate Personal Cloud (2-Bay)

When it comes to backing up files, many users are now looking to the myriad of cloud storage solutions available. There is no doubt th ...

Leitz Icon Label Printer

When you say the words "label printer" to people, they either just really don't care, or they get incredibly excited. This is one o ...

toggle

Most Commented