Eastman Kodak Company(NYSE: KODK) today reported financial results for the first quarter 2022, including consolidated revenues of $290 millionand continued growth in key product areas such as KODAKSONORA Process Free Plates and KODAKPROSPER System annuities. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. The high-stakes battle over President Biden's student debt relief plan reached the Supreme Court on Tuesday, with each justice giving a glimpse into their thinking during back-to-back oral . Kodak used $15 million in cash for the quarter, primarily driven by ongoing global cost increases which we are taking actions to address. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. Adjustments to reconcile to net cash used in operating activities: Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation and postemployment reserves, (Benefit) provision for deferred income taxes, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from return on equity investment, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. All rights reserved. Copyright 2023 Eastman Kodak Company. Consists of third-party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. We also saw increases in customer satisfaction and market share in our key print business, achievements which reflect the success of our ongoing strategy: focus on our core businesses in commercial print and advanced materials and chemicals, invest in product innovation and put our customers at the center of everything we do.. CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS Cash and cash equivalents Trade receivables, net of allowances of $8 and $9 Inventories, net . Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; The performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; The impact of the global economic environment or medical epidemics such as the COVID-19 pandemic; including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate or recoup associated increased costs of materials, labor, shipping and operations; The impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a non-binding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; The impacts of the war in Ukraine and the international response thereto on our business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; Changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; Kodaks ability to effect strategic transactions, such as acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and. Looking forward, well continue to focus on driving profitable revenue by concentrating on our core businesses and helping our customers build theirs.. All Rights Reserved. Q2 2022 Actuals on constant currency ** vs. Q2 2021 Actuals, Consolidated revenues of $321 million, compared with $291 million for Q2 2021, GAAP net income of $20 million, compared with $16 million for Q2 2021, Operational EBITDA of $11 million, compared with $10 million for Q2 2021, A quarter-end cash balance of $289 million, compared with $362 million at the end of 2021. . Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. GAAP net income was $8 million for the third quarter, compared to a net loss of $445 million in the third quarter 2020. Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy., Revenue and Operational EBITDA by Reportable Segment Q2 2022 vs. Q2 2021. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. In this full year 2021 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Eastman Kodak financial statements provide useful quarterly and yearly information to potential Eastman Kodak Co investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Eastman Business Park segment is not a reportable segment and is excluded from the table above. The decrease is primarily attributable to increases in working capital, the impact of higher costs and increased capital investment. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020 GAAP net income of $24 million, compared with a net loss of $541 million for 2020 Operational EBITDA of. Kodak delivered year-over-year growth in revenues and quarter-sequential growth in gross profit for the second quarter of 2022, despite ongoing inflationary and supply chain challenges, said Jim Continenza, Kodaks Executive Chairman and CEO. No income was recognized in the year ended December 31, 2021. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. The impact of foreign exchange is calculated by using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. About Eastman Kodak Financial Statements There are typically three primary documents that fall into the category of financial statements. When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Finding new ways to leverage our core strengths and delivering for our customers will be our focus as we execute our strategic plan.. We have launched the KODAK PROSPER 7000 Turbo Press, the worlds fastest inkjet press, and the KODAK ASCEND Digital Press, the perfect solution for the growing retail/point of purchase and high-end packaging markets. The "Tunnel Vision" artist, 25, will instead spend 30 days in a drug treatment program following a hearing in South Florida, local NBC affiliate WTVJ reported. Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, or As time goes by, it also suffers the threat from the overwhelming digital trend. An arrest warrant was issued last week for Kodak, whose legal name is Bill Kapri. in 2003 and to $-87 Mio. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. Eastman Kodak Company (KODK) Income Statement - Yahoo Finance U.S. markets closed (+0.31%) Dow 30 Nasdaq +72.04(+0.63%) Russell 2000 +5.78(+0.31%) (+0.11%) (-0.03%) Eastman Kodak Company. Jansen Panettiere's cause of death has been revealed one week after his sudden passing. In addition, we continue to make significant investments in our Advanced Materials & Chemicals business, such as our minority stake in Wildcat Discovery Technologies, Inc., a private technology company that is developing a breakthrough EV and energy storage super cell battery technology. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. 0001564590-22-010405.pdf. Find the latest Financials data for Eastman Kodak Company Common New (KODK) at Nasdaq.com. * Total Operational EBITDA is a non-GAAP financial measure. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Financial statements for businesses usually include income statements , balance sheets , statements of retained earnings and cash flows . Key Financial Ratios. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Kodak Reports Full-Year 2021 Financial Results, https://www.businesswire.com/news/home/20220315005996/en/, Other operating income, net, excluding income from transition services agreement, Pension income excluding service cost component, Earnings from discontinued operations, net of income taxes, Selling, general and administrative expenses, Loss from continuing operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other (income) charges, net and income taxes, Earnings (loss) from continuing operations before income taxes, Earnings (loss) from continuing operations, Property, plant and equipment, net of accumulated depreciation, Short-term borrowings and current portion of long-term debt, Pension and other postretirement liabilities. in 2004, which raises three caution flags: The focus of this post is to ascertain whether the financial statements of the Kodak Corporation's 2007 Annual Report revealed a high level of quality financial reporting. We provide industry-leading hardware, software, consumables and services primarily to customers in commercial print, packaging, publishing, manufacturing and entertainment. Discovery Company profile page for Trade-Van Information Services Co. including technical research,competitor monitor,market trends,company profile& stock symbol In addition, we continue to make significant investments in recently announced growth initiatives in our Advanced Materials & Chemicals business, expanding our pilot coating facility and taking a minority stake in Wildcat Discovery Technologies, Inc., a private technology company that uses proprietary methods to research and develop new battery materials and is developing a breakthrough EV super cell battery technology. The current year Operational EBITDA results did not benefit from $25 million in savings from temporary pay cuts and furloughs that largely ended in January 2021. For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. The capital structure is risky due to the large amounts of debt so it is good Kodak is trying to reduce it. All Rights Reserved. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. Third-quarter 2022 highlights include: Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis) Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. Kodak continued to navigate through an unusually challenging business environment in 2021 and delivered revenue growth in all our segments for the first time in years, said Jim Continenza, Kodaks Executive Chairman and CEO. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. We plan to continue executing our long-term strategy despite the ongoing supply chain challenges and rising costs., Revenue and Operational EBITDA by Reportable Segment Q1 2022 vs. Q1 2021. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas.. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Jansen, the younger brother of actress Hayden Panettiere, died from an enlarged heart, according to his family.He was 28. to $302 Mio. However, the income from the transition services agreement was included in the segment measure. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. We have also officially launched two products powered by our groundbreaking ULTRASTREAM inkjet technology: the KODAK PROSPER ULTRA 520 Press, which offers offset print quality in a smaller footprint, and the first flexible package printing system, the UTECO Sapphire EVO W Press. Su lema en aquella poca describe bastante bien su propuesta de . Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; The performance by third parties of their obligations to supply products, components or services to. 16, 2021-- Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2020, including consolidated revenues of $1 billion and an increase in cash in the second half of the year. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. The company's EPS TTM is $-0.014; its P/E ratio is -241.89; Kodak is scheduled to report earnings on March 14, 2023, and the estimated EPS forecast is . With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005996/en/, Media Contact: Kurt Jaeckel, Kodak, +1 585-490-8646, kurt.jaeckel@kodak.com, Investor Contact: Paul Dils, Kodak, +1 585-724-4053, shareholderservices@kodak.com. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". Consists of third party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. (2.2MB) Canon will provide a hard copy of its latest annual report, which includes completed audited financial statements, free of charge to shareholders upon . ", Revenue and Operational EBITDA by Reportable Segment Q3 2022 vs. Q3 2021. 1,124 Followers. Operational EBITDA was favorably impacted by the growth in revenue due to improved pricing and volume, offset by higher ongoing global cost increases. Eastman Kodak Company (NYSE: KODK) today reported financial results for the second quarter 2022, including consolidated revenues of $321 million and continued growth in key product KODAK SONORA Process Free Plates. Get the latest KODK: Kodak detailed stock quotes, stock data, Real-Time ECN, charts, stats and more.. . Kodak's market cap is currently . Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings Business, Risk Factors, Legal Proceedings, and/or Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources, in the corresponding sections of Kodaks Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impact of the global economic environment or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate or recoup associated increased costs of materials, labor, shipping and operations; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; Kodaks ability to effect strategic transactions, such as acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. 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