After two years of losses since he took over the company, Kodak CEO Antonio Perez has reason to be proud: For the first time his company posted a net profit for the last quarter, just a piddling $16-million on $3.8-billion sales, but a net profit just the same.
Howâ€™d he do it? Well, for one he stood his ground to go for profits instead of slashing prices of Kodakâ€™s digital cameras. Thereâ€™s also that deal to outsource camera manufacturing to Flextronics; Kodakâ€™s new licensing deals also brought in a lot of money.
Then, there are those deals to settle legal spats with other companies. For example, Sony agreed with Kodak for cross-licensing of each otherâ€™s trademarks instead of quarreling over them.