Kodak Reports Loss for its Fourth Quarter, Revenue Slides
March 18, 2015 – Eastman Kodak reported a loss of $41 million for its fourth-quarter 2014, which however was lower than its net loss of $57 million for fourth-quarter 2013. Revenue for the fourth-quarter 2014 was $529 million, down from revenue of $609 million for fourth-quarter 2013.
Kodak cited the impact of the strong U.S. dollar and its effect on foreign-currency exchange rates, and declines in its more mature businesses.
For the entire fiscal 2014 year, Kodak reported revenues of $2.1 billion, down from $2.35 billion it reported for 2013, and reported a net loss of $188 million.
Of note is that in December 2014, Kodak announced a restructuring plan that includes a new Micro 3D Printing division. It says it expects to begin deriving revenue from the Micro 3D Printing division in the second quarter of 2015.
Eastman Kodak Co. met its 2014 financial goals, and some areas of business are booming. But for 2015, the company is setting the bar for those financial goals lower.
Overall, the firm says that it’s continuing to reduce expenses and that losses are growing narrower. “I’m confident the Kodak comeback is well underway,” commented Kodak CEO Jeff Clarke.
- December 2014: KODAK LOOKS TO BECOME FASTER, MORE COMPETITIVE WITH REORGANIZATION
- August 2014: IMPROVED EARNINGS FOR KODAK IN SECOND QUARTER, SMALLER LOSS
- May 2014: KODAK REPORTS LOSS FOR FIRST QUARTER, SALES DOWN
- March 2014: IMPROVING FINANCIAL PICTURE AT KODAK
- March 2014: JEFFREY J. CLARKE, FORMER VP AT HEWLETT-PACKARD, IS NEW CEO OF KODAK
- November 2013: KODAK REPORTS SMALLER LOSS FOR THIRD QUARTER
- October 2013: KODAK TO LIST COMMON STOCK ON NEW YORK STOCK EXCHANGE
- September 2013: KODAK OFFICIALLY EMERGES FROM CHAPTER 11 BANKRUPCTY