Eastman Kodak 4th-quarter earnings rise as digital revenue increases (Canadian Press)
2008.01.30 -
Digital Cameras -
Source: RSS.NEWS.YAHOO.COM -
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THE ASSOCIATED PRESS 20 minutes ago
ROCHESTER, N.Y. - Eastman Kodak Co., the world's biggest photo film manufacturer, said Wednesday its fourth-quarter earnings surged on higher revenue as it stakes out a bigger position in digital photography.
The company, which recently finished a four-year overhaul in a move to build its digital photo business, earned US$215 million, or 71 cents per share in the October-December quarter, up from $16 million, or six cents per share, in the same quarter a year earlier.
Sales rose four per cent to $3.22 billion, from $3.11 billion a year earlier.
Analysts polled by Thomson Financial expected, on average, earnings of 52 cents per share on $3.10 billion in revenue. The earnings estimates typically exclude one-time items.
Kodak's digital revenue rose $288 million year over year to $2.26 billion, while traditional revenue declined to $951 million from $1.12 billion.
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