Kodak Prints More Red Ink
Eastman Kodak (EK) has made headway during recent months in its struggle to lose less money in the brave new world of digital imaging. But Wall Street players, expecting better, sold the stock on May 4 after hearing the photography giant's first quarter results and forecast for 2007.
Kodak lost $151 million during the quarter ended March 31, compared to $298 million during the same period last year. "I'm very pleased with our first-quarter performance, in which we made significant progress on our two key objectives for 2007 - new product success and cost reduction. Thus far the year is proceeding on plan," said CEO ~>~Antonio M. Perez