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Reply #83: Eastman Kodak 4Q Profit Rises [View All]

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citizen snips Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-30-08 03:09 PM
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83. Eastman Kodak 4Q Profit Rises
ROCHESTER, N.Y. (AP) -- Eastman Kodak Co., wrapping up a four-year digital makeover, hauled in a much higher $215 million profit in the fourth quarter, lifted by a 15 percent bump in digital sales and a jump-start in the lucrative inkjet printer market.

The photography products maker said Wednesday it earned the equivalent of 71 cents a share in the October-December quarter, up from $16 million, or 6 cents a share, a year earlier.

Sales rose 4 percent to $3.22 billion from $3.11 billion a year earlier.

Excluding one-time items of $28 million, or 9 cents a share, operating profits came to $120 million, or 40 cents a share. That was below the 52 cents a share forecast by analysts polled by Thomson Financial. But the sales topped analysts' consensus estimate of $3.1 billion.

Kodak shares, which had skidded to a 30-year low of $16.66 in mid-January, lost 85 cents, or 4.2 percent, to $19.60 in late morning trading.

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