Kodak Reports $37 Million Surge in Q3 Profits

Kodak Logo

Kodak’s most memorable moves this year were blasting down a few of its obsolete plants in spectacular fashion. Awesome sights, like its Bldg. 9 blasting last June and Bldg. 23 implosion last July.

Oh yes, they also ventured into making and selling inkjet printers that promised to bring lower cost by discarding the razor-and-blades strategy of most printer manufacturers. This one was not so spectacular.

But guess what, Kodak is reporting that they are making money, $37 million profit in the third quarter as a matter of fact, as digital revenue almost tripled and wider profit margins overshadowed a slight drop in overall sales.

As a result, Kodak shares rose 64 cents Thursday, or 2.2 percent, to $29.30 in pre-market trading.

How’d they make money? The gory details are in the Washington Post article linked below, if you want the numbers.

[Via: WashingtonPost.com]

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.