Kodak posts huge losses in third quarter

Kodak posts huge losses in third quarter

Eastman Kodak Co. has released their third quarter financial results and they are not going to impress anyone. The company posted a quarterly loss of $1.03 billion but this figure included the $900 million charge related to efforts to transform itself into a digital products and printing services provider. Kodak continues to remain the market leader in the photographic film market.

However, falling sales of traditional film roles has resulted into continuing falling share price of the company in the market. And this loss was the third consecutive in a row for Kodak. They are constantly working on re-innovating themselves as the digital photography has taken over the world and people are ignoring the traditional methods to develop photos and movies.

A senior market analyst spoke about Kodak’s market performance: “Kodak remains a very complex restructuring story and it is difficult for investors to track the operational performance of the company.” Kodak’s chief executive Antonio Perez said in a statement: “We expect more than 50 percent of our full-year consumer digital revenues to occur in the last four months of this year. We are building a strong digital company for the future.”