Profit Picture Brightens at Kodak

Shares gained Wednesday after the photography giant's quarterly results swung into the black thanks to cost-cutting

Eastman Kodak (EK) finally posted a profit on Jan. 31. That's something of a victory for CEO Antonio Perez -- when he had insisted in August that the photography giant would soon see better days, dubious investors sold Kodak's stock anyway. In the past two years the Rochester (N.Y.) company has lost money, laid off staff, and shut down factories. But now Kodak's cost-cutting has brought it into the black, as it continues struggling to make it in the brave new world of digital imaging.

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