Democratic Underground - Kodak loweres 2004 earnings after accounting review

Reply #15: Kodak loweres 2004 earnings after accounting review [View All]

UpInArms

(1000+ posts) Send PM | Profile | Ignore

Wed Apr-06-05 08:14 AM
Response to Reply #9

15. Kodak loweres 2004 earnings after accounting review

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38448.3805633218-833912624&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

NEW YORK (MarketWatch) -- Eastman Kodak Co. on Wednesday lowered its 2004 operating earnings per share to $2.30 from the $2.62 reported on Jan. 26, after an accounting review. The new figure reflects 22 cents per share for tax accounting issues; 5 cents per share related to pension and other post-retirement accounting issues; and 5 cents per share for miscellaneous items. CFO Robert H. Brust blamed "inadvertent accounting errors, in part associated with the complex restructurings necessitated by our digital transformation." Shares of Kodak rose 43 cents to $32.04 on Tuesday.

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Reply #15: Kodak loweres 2004 earnings after accounting review [View All]