Quote Originally Posted by zsas View Post
Since Kodak is in the midst of a chapter 11, they don't make quarterly/annual filings like non-ch 11 publicly traded corporations, but it looks like some info re their 2011 annual results has been filed (I assume with the court). Prior to this the last rpt we have seen was the 3Q11 rot.

See this tidbit from a newly filed annual rpt:

"The only part of Kodak to post a profit was its Film, Photofinishing and Entertainment Group, where profits fell by 63% to $34*million, on sales down 12% at $1.5 billion."


Sure it isn't roses but it's not what the trolls and other haters would leave you to believe....

I was surprised to see this since I thought that Kodak did not report profits for individual business units. However, I had seen these numbers before but with slightly different explanation -- they come from the SEC 10-K filing that Kodak made for 2011 financials and can be found on the Kodak website under Financial Information/SEC filings. In that document (p. 33), the so-called $34M profit is defined as Earnings from Continuing Operations before Interest Expense, Other Income(Charges), Net and Income Taxes for the Film, Photofinishing, and Entertainment Group Segment (FPEG) . I'm not a financial expert but that doesn't quite sound the same as profits. The same information is also shown for the other two reportable group segments, both of which had a loss. On p. 54, there is a Consolidated Statement of Operations that shows a gross profit of $887M (defined as total net sales minus cost of sales). However, the bottom line (after all the other adjustments are made) is that there was a net loss for the year of $764M. Again, not being a financial expert, I read that to mean the entire company had gross profit of $887M offset by $1651M for a bottom line of negative $764M. There is interest here to speculate if FPEG, or some subset, could survive financially as a stand-alone. I guess it all depends on how much the stand-alone would have in offsets compared to the $34M of gross profits.

In the interest of full disclosure, I am a 2005 retiree of Kodak having spent 36 years in Paper Manufacturing (Paper Mfg does not exist today but remnants of it are in the Photofinishing part of FPEG.