Kodak Reports 27% Drop in Revenue in First Quarter, $366 Million Net Loss

They say that when it rains it pours, and nowhere is that more evident than with the troubled, once-great photography company Kodak. After filing for bankruptcy, narrowing its focus to printers, and selling the Kodak Gallery for pennys on the dollar, we sort of hoped the company would start to see some rays of sunshine break through their perpetual cloud cover. Unfortunately, their quarter’s earnings report is anything but sunny.

It seems that the first 3 months of 2012 haven’t been kind to the Rochester based company, which today reported a 27-percent drop in revenue for Q1, bringing their total revenue below the $1 billion mark at $965 million. The silver lining, if you choose to see it, is that the company has increased its liquid assets from $500 million to about $1.4 billion; and although this quarter’s losses tally up to a whopping net loss of $366 million (compared to last year’s $246 million loss), Kodak maintains that this simply reflects the cost of restructuring.

As far as we can tell the only real bright side — that is, a bright side that doesn’t include a negative sign and a bunch of zeros — is that their consumer ink jet revenues jumped by 37-percent.

(via BusinessWire via The Verge)

Image credit: Kodak : end of game ? by Gilderic Photography

  • Paul D

    Quelle surprise

  • Calgary Photographer

    Kodak’s management team is pathetic. Such a shame to watch a once fantastic company being run into the ground. They better bring some really great innovation to the printer space or that part of their business will get crushed too. 

  • Michael Godek

     ….i know they said the film is still profitable….but this makes me scared.  What would like be without portra

  • Knur

    Film photography is a dying medium. Sad but true. Nothing can stop this.

  • time4leasing

    I’m going to have to agree with you. Unless Kodak changes strategy it won’t be long before they go bust and disappear entirely.

  • hfxPhoto

    I keep hoping that they’ll come out of it, perhaps purely for nostalgia. 

  • mark Humphreys

    Kodak has no option  but to go chapter 7. They allowed the very people to remain in charge of the sinking ship that did all the damage. They allowed the folks that may have saved this company to be cast aside. The management of Kodak would not listen to the advice being given them by those front line people that had seen management make the IBM mistake, The Apple Mistake, the Copy Mistake, the digital mistake, then buy back the nextpress mistake that is.. somehow going to revive Koadk from the dead.  The printing business began to decay prior to the nextpress venture. Go Figure !