Kodak makes Q4 loss


26 January 2005 – Rochester (NY): Eastman Kodak has reported a net loss in Q4 as a result of restructuring charges, but rising demand for digital products caused a rise in sales, the company has announced.

The quarter saw a net loss of $12 million, or $0.04 per share, down from a net income of $19 million, or EPS of $0.07, in last year’s quarter. The loss reflected the company’s sale of its Remote Sensing Systems operation to ITT Industries.

Sales totalled $3.765 billion, up 3 per cent from $3.648 billion recorded in 2003’s Q4. Excluding foreign exchange, sales increased by 1 per cent.

Chairman and CEO Daniel Carp said: "Kodak delivered in 2004. We began the year with a commitment to increase our full-year per share operational earnings, and we did that.

Looking to the future, he added: "We head into 2005 committed to increase per share operational earnings again. Our digital sales this year will exceed our traditional sales for the first time, and our digital profit growth will exceed the decline in profit associated with our traditional business."