Kodak yesterday reported a sharp incrase in its profits for the 3rd quarter of this financial year, exceeding Wall Street expectations. Signs that Kodak’s push towards digital is paying off? Maybe, but losses in its traditional film and camera businesses still caused the share price to fall by 8%.

“The world’s biggest film manufacturer, which is navigating a tough transition to filmless photography, said it earned $US479 million, or $US1.67 a share, in the July-September period, up from $US122 million, or 42 cents a share, a year ago.

Excluding restructuring costs and a gain of $US434 million, or $US1.51 a share, from the sale of its historic remote sensing systems business, profits were $US226 million, or 79 cents a share. Analysts surveyed by Thomson First Call expected earnings of 72 cents a share.”

Website: Sydney Morning Herald - Kodak benefits from digital sales surge