Originally Posted by zsas
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.