No good news--
No good news--
It doesn't sound so good, I hope Kodak makes a comeback.
That's sad. I'm not a fan of the new company, but I really think it will be split up in the near future. Like a drunk that lumbers up to a bar for a drink after last call was shouted 3 times, Kodak has missed all of the boats.
The huge drop in profits is largely due to the artificially high profits "a year earlier when results were swelled by $421 million in licensing and royalty revenue."
"Traditional film–based revenue slid 25 percent to $439 million, hit by volume declines and surging costs for silver and aluminum. The photographic film, photofinishing and entertainment film unit posted a $3 million operating loss in contrast with $53 million in operating profit a year earlier."
So it seems that the film business is no longer a cash generator for the rest of the business. Presumably "entertainment film" comprises all the movie film products as well, which makes it even worse? "Photofinishing" presumably also includes products and services for consumer prints from digital cameras?
Just expectations of something round the next corner....and even those seem to centre mostly around consumer inkjet, where, of course, they have some very serious and heavy competition from the established brands of HP, Epsom, Canon, etc. And, in recessionary times, people are not going to be replacing their current printers just to get a few extra lights and whistles.
Maybe time to stock up on favorite Kodak films while we still can. :(
also of great concern--
Kodak was depending on this to get them through the year---
Maybe Kodak should consider getting into the banking business.
With drastically falling sales and an uncertain product pipeline it is hard to see how Kodak will avoid bankruptcy.
Maybe some rich, crazy genius like Florian Kaps, the Impossible Project guy, will swoop in and buy the film division and make it into the American Ilford! Tri-x, Plus-x, the Tmaxes, Portra, Ektar, a couple of slide films and the movie films. One can wish . . .