Kodak is reporting its first profitable quarter since its emergence from Chapter 11 bankruptcy last year. The company earned $19 million in the 3rd quarter. That was a lot smaller than nearly two billion dollars in earnings last year at that time, but that was due mostly to a one-time benefit from the company's reorganization.
Sales in the 3rd quarter of $564 million were up slightly from this time last year.
Kodak now focuses on commercial printing and packaging and its CEO Jeff Clarke says that strategic areas, especially in the graphics business are showing momentum.
But he also says the company continues to operate too closely to its break even point, and he says the company will continue to streamline the organization and re-engineer the company.
