Moody’s Says Kodak Not Out of the Woods Yet

Kodak Logo

There may be positive news from Kodak these days, but investment ratings firm Moody’s is not impressed; it doubts the fundamental operating performance of the company and is even considering a possible downgrade.

“Based on Moody’s estimates, the company achieved its 2006 guidance for digital revenue growth and cash flow only through non-recurring licensing arrangements and the company did not meet its guidance for digital earnings” commented John Moore, VP/Senior Analyst of the ratings firm. He noted however that Kodak delivered on its goal set in early 2006 to reduce debt by $800 million.

Kodak earlier reported about 4% digital revenue growth for 2006 but Moody’s estimates only 2% by excluding non-recurring licensing arrangements.

The market however seemed to agree with Kodak; its shares closed up 34 cents at $25.86.

[Via: AxcessNews.com]

Chris Malinao

About Chris Malinao

Chris teaches Lightroom as workflow software to photography students at the FPPF, Federation of Philippine Photographers Foundation. He also teaches smartphone photography.

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