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Eastman Kodak

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.

Eastman Kodak is announcing a change in the corporate ranks. The company says that John O’Grady has been named President for the Print Systems Division effective April 24.

O’Grady is currently President of the Consumer and Film Division and he is the former General Manager of World Wide Sales for Print Systems.

Eastman Kodak is reporting earnings for the 4th quarter and all of 2017.

The company is reporting profits of $129 million for the quarter and $94 million for the year overall. But as George Conboy of Brighton Securities points out, that profit is mainly due to the fact the company had a one-time tax benefit of $101 million.

provided photo

There was an historic moment at the Eastman Business Park on Tuesday. Kodak officials marked the arrival of the last train car of coal brought to that plant to fuel its power plant, before the plant’s power system is converted to all natural gas.

The president of the park, Dolores Kruchten, says newer regulations required a major change to be made with the coal-fired plant.

Randy Gorbman / WXXI News

While the Academy Awards were celebrated in Hollywood Sunday night, a number of  Rochesterians were also wearing gowns and tuxedos at the Kodak Center on Ridge Road.

The event was not only to celebrate film, but also raise money for a good cause.

After a sharp rise in its stock price a few weeks ago when Kodak announced it was getting into the cryptocurrency area, the company’s share price fell 13% on Wednesday, and another 12% on Thursday, closing at $6.95 a share.

Kodak stock soared Tuesday, rising 119 percent, or $3.70 a share,  closing at $6.80, after the company said it is getting into the digital licensing and cryptocurrency market.

Kodak is partnering with a company  called WENN Digital.

The companies are launching what is known as 'blockchain' technology with the products KODAKOne and KodakCoin. Blockchain is a ledger where transactions of digital currencies, like bitcoin, are recorded.

Kodak is the latest company to enter the cryptocurrency market as Bitcoin makes gains.

EastmanKodak is looking at layoffs and taking other steps following the release of its 3rd quarter earnings report on Wednesday.

Kodak is reporting a $46 million loss and sales were down about 8 percent from a year ago.

Some of the results were impacted by the company exiting a certain product line.

Kodak CEO Jeff Clarke said in the quarterly release that an overall print market slowdown and rising aluminum costs have impacted the company’s commercial print business.

George Eastman Museum

A woman who wrote what a lot of people consider to be a definitive biography of George Eastman has died at age 84. Elizabeth Brayer was well known in the Rochester cultural community. She died on Wednesday.

Brayer wrote a more than 600 page biography that was first published in 1996, and reprinted a decade later.

Kathy Connor is the Eastman Legacy Curator at the George Eastman Museum and she was also a good friend of Brayer’s.  She worked closely with Brayer, who did a lot of her research at the museum as well as at Kodak. 

Kodak is releasing its 2016 corporate responsibility report, which sets goals for environmental and social responsibility.

The company has set 10 goals it wants to reach by 2025. They include approaching zero waste at Kodak Sites worldwide, diverting waste from landfills and incinerators, and further reducing greenhouse gas emissions and water consumption.

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