Eastman Kodak Company (NYSE: KODK) today reported financial results for the second quarter 2022, including consolidated revenues of $321 million and continued growth in key product KODAK SONORA Process Free Plates. Operational EBITDA for the year ended December 31, 2021 was $11 million, compared to negative $1 million in 2020. Follow. Cautionary Statement Regarding Forward-Looking Statements. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Our innovative, award-winning products, combined with our customer-third approach, make us the partner of choice for commercial printers worldwide. My Experts Top Analysts Top Financial Bloggers Top-Performing Corporate Insiders Top Hedge Fund Managers Top Research Firms Top Individual Investors. Kodak Reports First-Quarter 2022 Financial Results, https://www.businesswire.com/news/home/20220510006135/en/, Pension income excluding service cost component, Selling, general and administrative expenses, Loss from continuing operations before interest expense, pension income excluding service cost component, other charges, net and income taxes, (Loss) earnings from continuing operations before income taxes, Property, plant and equipment, net of accumulated depreciation of, Short-term borrowings and current portion of long-term debt, Pension and other postretirement liabilities. Adjusting for the unfavorable impact of foreign exchange of $22 million in the current-year quarter, revenue increased by $24 million compared to the prior-year quarter. Cautionary Statement Regarding Forward-Looking Statements. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. "Jansen's heart could be seen in his eyes, and his charm in his brilliant, engaging smile; his soul in his masterful and revealing paintings, and the joy of life in his dry wit," the . When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Kodak now has a market value of $140m and teeters on bankruptcy. CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS Cash and cash equivalents Trade receivables, net of allowances of $8 and $9 Inventories, net . All Rights Reserved. WPLG. Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy., Revenue and Operational EBITDA by Reportable Segment Q2 2022 vs. Q2 2021. Performances of the newly named "Bob Fosse's 'Dancin' begin March 2 at the Music Box Theatre, with an opening night set for March 19.. Income Statement. Kodak ended the second quarter with a cash balance of $289 million, a net decrease of $73 million from December 31, 2021. * Total Operational EBITDA is a non-GAAP financial measure. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. The change in revenues and Operational EBITDA on a constant currency basis, as presented in this financial results news release, is calculated by using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis) GAAP net income of $2 million, compared with $8 million for Q3. Financial Information Here you will find a summary of Eastman Kodak Company's latest financial information. Su xito inicial se debi a la introduccin del carrete de papel en el mercado, reemplazando las placas de cristal que se empleaban hasta entonces, as como al lanzamiento de las primeras cmaras que empleaban carretes circulares. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Get the detailed income statement for Eastman Kodak Company (KODK). Kodak delivered year-over-year growth in revenues and quarter-sequential growth in gross profit for the second quarter of 2022, despite ongoing inflationary and supply chain challenges, said Jim Continenza, Kodaks Executive Chairman and CEO. Key Financial Ratios. When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. Think of Kodak. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. ** The impact of foreign exchange represents the 2021 foreign exchange impact using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. Operational EBITDA for the quarter was $6 million compared to negative $1 million in the prior-year quarter. View Kodak Financial statements.xlsx from ENTR 3100 at Simon Fraser University. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; The performance by third parties of their obligations to supply products, components or services to. For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. View as % YoY growth or as % of revenue. Cautionary Statement Regarding Forward-Looking Statements. Discovery Company profile page for Trade-Van Information Services Co. including technical research,competitor monitor,market trends,company profile& stock symbol Copyright 2023 Eastman Kodak Company. About Eastman Kodak Financial Statements There are typically three primary documents that fall into the category of financial statements. Click the button, and we will write you a custom essay from scratch for only $12.00 $10.20/page 322 academic experts available Learn more. (www.investorwords.com) It consists of a balance sheet income statements and a cash flow statement.This essay will critically asses the uses and limitations of each of these types of financial . Sherrod Brown and JD Vance . Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. Achieved revenues in fourth quarter 2022 of $357 million and full year 2022 of $2.0 billion; Appointed John C. Jacobs as President and Chief Executive Officer; Updated U.S. government agreement to include up to 1.5 million additional doses of Novavax's COVID-19 vaccine for delivery in 2023; Expanded Nuvaxovid label in adult booster and adolescent primary series 1,124 Followers. The prior year included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion and expense of $167 million related to the increase in deferred tax valuation allowances for locations outside the U.S. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks expectations and various assumptions. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. The potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2020 under the headings Business, Risk Factors, Legal Proceedings and/or Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources, in the corresponding sections of Kodaks Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve cash forecasts, financial projections and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impact of the global economic environment or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions implemented to fight the COVID-19 pandemic, and Kodaks ability to effectively counteract or recoup associated increased costs of materials, labor, shipping and operations; the impact of the investigations, litigations and claims arising out of the circumstances surrounding the announcement by the U.S. International Development Finance Corporation in July 2020 of a potential loan to a subsidiary of Kodak to support the launch of a pharmaceutical initiative; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; Kodaks ability to effectively anticipate technology trends and develop and market new products, solutions and technologies; Kodaks ability to effectively compete with large, well-financed industry participants; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; the potential impact of cyber-attacks and other data security incidents that disrupt Kodaks operations; and Kodaks ability to effect strategic transactions such as acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions. 31, 2020 Bloggers Top-Performing Corporate Insiders Top Hedge Fund Managers Top Research Firms Individual... 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