Kodak have reported grim third-quarter 2009 results, including a 35% revenue drop at its Consumer Digital Imaging Group.. The group’s third-quarter sales totalled a mere $535 million, leading to a $89 million loss for the quarter, compared with a profit of $24 million a year ago. The year-over-year variance was driven by lower intellectual property licensing royalties of $157 million. Excluding the impact of intellectual property royalties, segment earnings improved. This was driven by improved profitability in consumer inkjet systems, including a 128% revenue increase in consumer inkjet printer hardware and ink and lower costs as a result of the company’s move to a more efficient product platform; improved operating performance in Digital Capture & Devices; and reduced research-and-development expenses across the segment. Kodak’s total losses from continuing operations amounted to $111 million, compared with earnings of $101 million in the year-ago period.
RSS
Feeds
