Kodak posts Q2 loss, sees better 2nd-half

Kodak posts Q2 loss, sees better 2nd-half
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First Published: Thu, Jul 30 2009. 04 45 PM IST
Updated: Thu, Jul 30 2009. 04 45 PM IST
New York: Eastman Kodak Co posted a second-quarter loss and disappointing revenues as weak demand hurt its film and digital photography businesses, but it expects its results to improve during the rest of the year.
Kodak, a maker of consumer cameras and printers as well as a provider of commercial printing services, posted a second-quarter loss of $189 million, or 70 cents a share. That compares with a profit of $495 million, or $1.72 a year earlier.
Revenue fell 29% to $1.77 billion from $2.49 billion. Analysts expected $1.83 billion, according to Reuters Estimates.
Kodak shares have risen about 13% in the past month, but are still down almost 50% in 2009, amid concerns that investors will have to wait longer to see sustained profits after years of restructuring.
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First Published: Thu, Jul 30 2009. 04 45 PM IST