Kodak has released its financial statement for the second quarter of 2019, with net earnings of $201m on revenues of $307m, and growth in its key areas.
The film giant – which continues to produce films such as Tri-X, Portra and Colorplus – released a financial statement which showed revenues of $307m compared to revenues for Q2 2018 of $332m during the same period last year.
Much of the net earnings appears to have come from the sale of Kodak’s Flexographic Packaging Division for $207m.
The statement also shows sales down nearly 10% compared to the second quarter of last year, from $261m to $240m.
The statement also shows the company has repaid in full an $83m debt.
“Refinancing the remaining balance of our term debt was a critical step toward creating the foundation for future success,” said Jim Continenza, Kodak’s executive chairman. “Our priority is generating cash by better serving customers in our core print, film and advanced materials businesses and driving further cost efficiencies.”
Kodak’s financial health is good news considering its recent reviving of its Ektachrome slide film and return of Kodak TMax P3200, both of which were discontinued in 2012.
However, Kodak does appear to be struggling to keep constant supplies of its more popular films such as Portra 400 outside of the US, possibly because of increased demand.
I'm a New Zealander who has been living in London since the mid-1990s, shooting film seriously since the year 2000. Kosmo Foto was launched in 2012 and has since become a film brand, with the release of my first films Kosmo Foto Mono 35mm (2017) and Kosmo Foto Mono 120 (2019).
I’m doing everything I can to promote film photography in the 21st Century, and help it survive and thrive. If you want to write something for Kosmo Foto, please drop me a line at foto.dowling@gmail.com.
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