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Eastman Kodak Co. projects net sales of $2.5 billion and earnings before interest, taxes, depreciation and amortization of $167 million this year. It sees net sales and EBIDTA rising to $3.2 billion and $494 million respectively by 2017.
The former camera giant posted those figures Tuesday in a presentation for creditors in its ongoing Chapter 11 bankruptcy.
The projections, which reflect expected sales and costs in Kodak’s graphics, entertainment and commercial film, digital printing and enterprise and intellectual property and brand licensing divisions, are based on currently available numbers. They are not intended to a guide for shareholders or meant to be an official Securities and Exchange Commission filing, the company said in a Jan. 22 statement filed with the SEC.
In the roughly 12 months since it sought court protection to reorganize, Kodak has made “substantial progress” toward its reorganization goals of gaining access to liquidity, resolving legacy costs, selling off non-core intellectual property and trimming itself down to its most valuable business lines, the company said in the creditor presentation.
Since filing a Chapter 11 petition last year, Kodak has secured a more than $800 million commitment from lenders to finance its reorganization and recently won court approval to sell an intellectual property portfolio—initially valued at some $2 billion—for $575 million. Kodak also dropped health coverage for retirees and has stopped selling consumer inkjet printers but has said it would keep selling supplies.
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