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Kodak posts net loss for November

Rochester Business Journal
December 28, 2012

Eastman Kodak Co. on Friday reported a net loss of $60.8 million on sales of $162.9 million in November for its companies in bankruptcy. Its loss from continuing operations totaled $59.7 million.

The company listed cash and cash equivalents of $274.1 million on Nov. 30, down from $510.2 million on June 30.

The financials are contained in monthly operating reports filed with the U.S. Bankruptcy Court to show asset use and cash for the U.S. units of Kodak that are in Chapter 11. The company filed for bankruptcy Jan. 19.

The reports include costs that Kodak is responsible for companywide, but do not reflect its international businesses that were not part of the bankruptcy filing.

Kodak also filed a periodic report on the value, operations and profitability of businesses in which it holds a substantial or controlling interest. For the nine months ended Sept. 30, the consolidated entities had a net loss of $977 million on $3 billion in revenues. The loss from continuing operations was $903 million.

Cash and cash equivalents for the consolidated entities stood at $1.1 billion.

As with the monthly reports, Kodak cautions that the periodic filings are prepared solely to comply with the bankruptcy court’s reporting requirements. They are unaudited and were not prepared in accordance with generally accepted accounting principles.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


 


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