Kodak is No. 1 in Sales - Posts Billion Dollar Loss
Halfway through a four-year digital makeover, as its quarterly losses mount, Eastman Kodak Co., Rochester, N.Y., USA, has some analysts wondering if the picture-taking pioneer is headed for a breakup, reports The Associated Press. But even as Kodak reported a .03 billion loss for the third quarter, its new leadership -- largely recruited from digital heavyweights like Hewlett-Packard Co. -- say the results show they're making real progress symbolized by one historic milestone: Sales of digital products now exceed revenue from film-based photography for the first time.Patent-rich Kodak, they also point out, is No. 1 in sales of digital cameras and digital X-ray systems in the United States and photo kiosks, thermal home printers and online photo services worldwide.
"Overall, we're expecting a year of good progress in a historic transition," said Chief Executive Antonio Perez, a former Hewlett-Packard stalwart who took the helm in June.
Others, however, predict that the multi-year transformation, which includes the elimination of 25,000 jobs, almost inevitably will lead to even bigger changes in the years ahead, reports the AP.
