Kodak released their third quarter financial results:
- GAAP net earnings of $19 million for the quarter ended September 30, 2018.
- Operational EBITDA for the quarter of $20 million, an increase of $7 million compared with the third quarter of 2017.
- Revenues for the quarter of $366 million, compared with $379 million in the prior-year quarter.
- Key product lines achieved strong year-over-year growth for the quarter:
- Volume for KODAK SONORA Process-Free Plates grew by 17 percent.
- Volume for KODAK FLEXCEL NX Plates grew by 17 percent.
- Annuity revenues for the KODAK PROSPER inkjet platform grew by 8 percent.
- The company ended the quarter with a cash balance of $238 million and expects to generate cash in the fourth quarter 2018.
- 2018 revenue guidance revised to $1.475 billion to $1.525 billion; Operational EBITDA guidance remains at $55 million to $60 million.
- Additional development: Kodak is in advanced negotiations on an exclusive basis to sell its Flexographic Packaging Division. The net proceeds from the transaction will be used to reduce the Company’s outstanding term debt.
The latest financial results from other companies can be found here.
Full press release:
