Q2 Report: Kodak Sales Flat, Share Value Dips

Kodak Logo

Kodak is reporting a slight increase in sales in the second quarter of 2008, from $2.46 billion in Q2 2007 to $2.48 billion, and that’s true; they’re happy about it.

But you know what? Their net income for the same period dropped 14 percent to $495 million, which translates to $1.62 per share, down from $2.00 per share in Q2 2007 when they netted $575 million.

It’s the best that the 128-year-old company can do in these digital times. Kodak’s film business is continuing its downward slope, dragging it down. Film only got them $847 for the quarter, down 14 percent from Q2 2007’s $980.

In a brave statement, Kodak CEO Antonio Perez says, “unprecedented commodity cost increases across the business are presenting a headwind that we are aggressively addressing.” Which means they’re really up against tough times.

[Read: Kodak Reports 2nd Quarter Profit]

Published by Chris Malinao

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