Kodak is reporting its first quarter financial results, and they show a loss of $25 million compared to the same time last year. Revenues were flat, at $357 million.
CEO Jeff Clarke says the company did see strong performance in some of its key segments for commercial printing and packaging.
At Brighton Securities, George Conboy says there may not have been a lot to cheer about in this quarter, but hopefully sales have stabilized and will see increases in the future.
“If I’m looking for one bright spot it’s that sales did not decline over the same period last year, they were at least able to maintain sales at a steady level.”
Kodak officials also said that the company saw worldwide employment drop about 400 over the last year. It now employs about 5,625 on a global basis; the company employs around 1,500 people in Rochester.
On a conference call with Wall Street analysts, Clarke was asked about previous comments the company made about looking at various ways to sharpen the company’s focus. He did not provide any more details on Wednesday, except to say management continues to look at Kodak’s overall portfolio.