NEW YORK - Former Wall Street titan, Eastman Kodak said they made 8 cents a share or $22 million. The profit was the second fourth quarter profit in a row but this one was done without benefits from non-recurring intellectual property. However it was done with a tax benefit of $106 million and without this the company lost $76 million in the quarter. Even without one time gains from last year revenue declined by nearly 10% to $1.9 billion.
The CEO of Kodak Antonio M. Perez said "This was our best digital earnings performance ever." Perez continues "I am very encouraged by the performance of our key digital growth businesses, which will form the basis of Kodak's digital future,"
The company achieved these results due to improved profit margins; and a lean cost structure. For the full year the company lost $58 million.
To see the Kodak report click here.
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