First-quarter 2022 highlights include: For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2022, including consolidated revenues of $290 million and continued growth in key product areas such as KODAK SONORA Process Free Plates and KODAK PROSPER System annuities. We continue to invest in digital print technologies designed to help our customers mitigate cost and supply risks associated with traditional prepress. 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. 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. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005996/en/, Media Contact: Kurt Jaeckel, Kodak, +1 585-490-8646, kurt.jaeckel@kodak.com, Investor Contact: Paul Dils, Kodak, +1 585-724-4053, shareholderservices@kodak.com. All Rights Reserved. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. On June 15, 2022, Kodak exercised its right to draw down in full an additional $50 million in aggregate principal pursuant to the Term Loan Credit Agreement and received net proceeds of $49 million. Operational EBITDA was favorably impacted by the growth in revenue due to improved pricing and volume, partially offset by higher continued ongoing global cost increases. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, . For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. The current year Operational EBITDA results did not benefit from $25 million in savings from temporary pay cuts and furloughs that largely ended in January 2021. Q3 2021 Actuals on constant currency ** vs. Q3 2020 Actuals, The Company ended the quarter with a cash balance of $380 million. Income statements, balance sheets, cash flow statements and key ratios. "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 . The ex-husband and former in-laws of a slain Hong Kong model and influencer have appeared in court on a joint murder charge after police found her body parts in a refrigerator in a rural house . Consists of third-party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. 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. South Florida rapper Kodak Black, whose real name is Bill Kapri, grabs a Jolly Rancher from the judge's bench at the conclusion of his hearing in a Broward County courtroom, Feb. 28, 2023 . The following table reconciles the most directly comparable GAAP measure of Net Income (Loss) to Operational EBITDA for the twelve months ended December 31, 2021 and 2020, respectively: As reported in the Consolidated Statement of Operations. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. Kodak ended the year with a cash balance of $233 million, flat when compared to the December 31, 2018 cash balance. Eastman Business Park segment is not a reportable segment and is excluded from the table above. * Total Operational EBITDA is a non-GAAP financial measure. The original had a four-year run from 1978 to 1982 and won two Tony Awards, including best choreography. End of preview. Jansen, the younger brother of actress Hayden Panettiere, died from an enlarged heart, according to his family.He was 28. View Kodak Financial statements.xlsx from BUS 311 at Mount Kenya University. Revenues and Operational EBITDA on a constant currency basis. ** 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. Kodak Alaris is a privately held global technology company that's delivering the futurenow. WPLG. In this first quarter 2022 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020. We continue to execute on our plan by driving increases in cost efficiency through automation and process innovation and redesign., Revenue and Operational EBITDA by Reportable Segment FY 2021 vs. FY 2020. Critically assess the uses and limitations of financial statements The definition for a financial statement is a written report which quantitatively describes the financial health of a company. The Company had a GAAP net loss of $3 million for the quarter, compared to net income of $6 million in the prior-year quarter. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended September 30, 2021, rather than the actual average exchange rates in effect for the three months ended September 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. For the quarter ended September 30, 2022, revenues were $289 million, an improvement of $2 million compared to the same period in 2021. "In the third quarter, the Companys primary uses of cash were investments in our previously-announced growth initiatives and increasing working capital to support our existing operations," said David Bullwinkle, Kodaks CFO. In addition, we continue to make significant investments in recently announced growth initiatives in our Advanced Materials & Chemicals business, expanding our pilot coating facility and taking a minority stake in Wildcat Discovery Technologies, Inc., a private technology company that uses proprietary methods to research and develop new battery materials and is developing a breakthrough EV super cell battery technology. Kodak continued to navigate through an unusually challenging business environment in 2021 and delivered revenue growth in all our segments for the first time in years, said Jim Continenza, Kodaks Executive Chairman and CEO. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. Want to read all 3 pages? Copyright 2023 Eastman Kodak Company. The current year Operational EBITDA results did not benefit from $25 million in savings from temporary pay cuts and furloughs that largely ended in January 2021. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). View the latest KODK financial statements, income statements and financial ratios. Financial Information Here you will find a summary of Eastman Kodak Company's latest financial information. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. The potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. Eastman Kodak Company (KODK) Income Statement - Yahoo Finance U.S. markets closed (+0.31%) Dow 30 Nasdaq +72.04(+0.63%) Russell 2000 +5.78(+0.31%) (+0.11%) (-0.03%) Eastman Kodak Company. Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billion and continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. The use of cash in the second quarter primarily reflects higher inventory levels which strengthen our ability to serve our customers and support increased revenues. Consulting and other costs are professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. As they began experiencing a decline in the demand for cameras and film, and as we saw a shift to smartphones . Kodak is a global technology company focused on print and advanced materials & chemicals. Looking forward, well continue to execute our go-to-market strategy focused on driving profitable revenue and growth.. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. We have launched the KODAK PROSPER 7000 Turbo Press, the worlds fastest inkjet press, and the KODAK ASCEND Digital Press, the perfect solution for the growing retail/point of purchase and high-end packaging markets. Kodak Refer to the following financial statements for Kodak: CASE 9-1 Kodak: Forecasting Pro Forma Financial Statements Required: Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Eastman Kodak Company today reported financial results for the third quarter 2020, including consolidated revenues of $252 million and a $13 million increase in cash. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. Eastman Business Park segment is not a reportable segment and is excluded from the table above. Copyright 2023 Eastman Kodak Company. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. 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. Kodak has been able to reduce its overall debt so that it now makes up 74.1% of total assets in 2004 instead of 78.1% as it was in 2003. We are also focused on long-term growth, making significant investments in print technology and the four Advanced Materials and Chemicals initiatives we announced earlier this year. Eastman Kodak Company 2020 Annual Report on Form 10-K and Notice of 2021 Annual Meeting and Proxy Statement. Balance Sheet. Annual. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. 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. Changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; 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; 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; and. Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". Looking forward, well continue to focus on driving profitable revenue by concentrating on our core businesses and helping our customers build theirs.. The focus of this post is to ascertain whether the financial statements of the Kodak Corporation's 2007 Annual Report revealed a high level of quality financial reporting. 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. to $302 Mio. 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. Rapper Kodak Black will enter a drug rehabilitation facility later this month at the order of Judge Barbara Duffy of Boward Country, Florida. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. * Total Operational EBITDA is a non-GAAP financial measure. Income Statement. Jansen Panettiere's cause of death has been revealed one week after his sudden passing. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. Item 2.02. Im pleased with our continued improvement in the third quarter despite challenges posed by supply chain issues, labor shortages and inflationary pressures, said Jim Continenza, Kodaks Executive Chairman and CEO. Think of Kodak. Upload your study docs or become a ROCHESTER, N.Y. -- (BUSINESS WIRE)--Mar. Copyright 2023 Eastman Kodak Company. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Form Filing date View; 10-K: Mar 15, 2022: View HTML. Cautionary Statement Regarding Forward-Looking Statements. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. We continue to execute on our plan by driving increases in cost efficiency through automation and process innovation and redesign., Revenue and Operational EBITDA by Reportable Segment FY 2021 vs. FY 2020. Follow. With a strategy of company's focus on pictures, new products, a strengthening market position, and investments for growth, Kodak has experienced in traditional film and photo imaging business for more than a century. Request for Annual Report. All Rights Reserved. Q2 2022 Actuals on constant currency ** vs. Q2 2021 Actuals, Consolidated revenues of $321 million, compared with $291 million for Q2 2021, GAAP net income of $20 million, compared with $16 million for Q2 2021, Operational EBITDA of $11 million, compared with $10 million for Q2 2021, A quarter-end cash balance of $289 million, compared with $362 million at the end of 2021. Su lema en aquella poca describe bastante bien su propuesta de . Our quarter-end cash balance was generally in line with our expectations, said David Bullwinkle, Kodaks CFO. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. ", Revenue and Operational EBITDA by Reportable Segment Q3 2022 vs. Q3 2021. Financial Results Overview News / Events Company Info Stock Data SEC Filings Governance Shareholder Services 2022 Q3 2022 Quarter Ended Oct 29, 2022 Earnings Release PDF HTML Earnings Webcast Audio 10-Q PDF HTML Presentation PDF Infographic PDF Q2 2022 Quarter Ended Jul 30, 2022 Earnings Release PDF HTML Earnings Webcast Audio 10-Q PDF HTML FY 2021 Actuals on constant currency ** vs. FY 2020 Actuals, Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020, GAAP net income of $24 million, compared with a net loss of $541 million for 2020, Operational EBITDA of $11 million, compared with negative $1 million for 2020, A year-end cash balance of $362 million, compared with $196 million at the end of 2020. Second-quarter 2022 highlights include: Consolidated revenues of $321 million, compared with $291 million for Q2 2021 Get the detailed income statement for Eastman Kodak Company (KODK). View as % YoY growth or as % of revenue. 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