Some heartening news for film users: Kodak’s film business grew 21% year-on-year in the third quarter of 2019.
The results were made public with a press release on Friday. The film division profits came even as the company announced a $14m loss compared to the third quarter of 2018.
But Kodak ended the quarter with a cash balance of $225m, which was $27m higher than it had on 30 June. It took into account a $13m licensing payment from Chinese film manufacturer Lucky HuaGuang Graphics Co, the makers of Lucky brand films.
As Emulsive pointed out in its post on Friday, the upturn doesn’t just take into account stills film – it also includes turnover from the company’s movie film division.
The revenue increase is good news for Kodak – and the wider film world – given that the company has been very proactive in bringing back previously discontinued emulsions.
In 2018, it re-released Ektachrome 100, after the last of its colour slide film had been discontinued in 2011. And the same year it also brought back TMax P3200, the high-speed black-and-white film which had also been axed in 2012.
“The company will continue to concentrate on delivering industry-leading solutions to customers in our core print and film businesses,” said Jim Continenza, Kodak’s executive chairman. “Looking ahead to 2020, we will focus on generating cash by growing profitable revenue, making smart investments and eliminating unnecessary spending.”