Thursday 29. January 2009
Kodak Reports Preliminary Fourth Quarter 2008 Results; Company Taking Action to Address Impact of Global Recession
Fourth-Quarter Sales Decline to $2.433 Billion; Company Holds or Grows Market Share in Key Businesses; Company Achieves $516 Million in Net Cash Provided by Operating Activities from Continuing Operations in the Fourth Quarter, with Cash Generation Before Dividends of $472 Million; Ends Year With Cash Balance of More Than $2.1 Billion; Fourth-Quarter Preliminary Loss from Continuing Operations of $133 Million; Full-Year Preliminary Earnings from Continuing Operations of $54 Million; 2008 Results to be Finalized Pending Impairment Assessments; Kodak Acting Decisively to Align Cost Structure to Global Economic Realities; Actions Include Executive Compensation, Significant Expense and Job Reductions