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.”
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.
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