Kodak Loses in Q3 Net Sales, But Gains in Digital Earnings

Kodak Logo

There is a silver lining to Kodak’s 10% decrease in net sales this quarter: it gained a significant growth in digital earnings. And they may be turning a corner from previous eight quarters of consecutive losses.

Kodak’s Q3 2006 figures showed $3.2 billion net worldwide sales, down 10% compared to its $3.5 billion sales in Q3 2005. However, it also posted $105 million in digital earnings this quarter, soaring 15 times from the $7 million of the same period last year.

The film photography giant faced a monumental challenge when the world it dominated turned to digital photography. In 2003, it decided to focus on digital devices, slashed 27,000 jobs and implemented other cost-cutting measures.

Kodak CEO and Chairman Antonio Perez says, “Our business transformation is on track; this performance represents clear progress toward our goals and gives us good momentum to carry into the fourth quarter and 2007.”

[Via: DigitalCameraInfo]

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.

Vintage Argus Seventy Five 75 Twin Lens Camera picture
Vintage Argus Seventy Five 75 Twin Lens Camera
Som Berthiot Cinor B 1:2.3 23mm D Mount & Hyper SGDG cine movie film camera lens picture
Som Berthiot Cinor B 1:2.3 23mm D Mount & Hyper SGDG cine movie film camera lens
VTG 1940s Exakta VX Ihagee 35mm Camera w/ Zeiss Jana 3.5 50mm lens & Extras NR picture
VTG 1940s Exakta VX Ihagee 35mm Camera w/ Zeiss Jana 3.5 50mm lens & Extras NR
Mamiya/Sekor 500 DTL 35mm Film Camera with Mamiya/Sekor 50mm Lens picture
Mamiya/Sekor 500 DTL 35mm Film Camera with Mamiya/Sekor 50mm Lens
Dallmeyer small brass F/3.5 lens approx 1
Dallmeyer small brass F/3.5 lens approx 1" 25mm focal length camera / projection