Eastman Kodak Company reports a net loss of $16 million for the 2018 fiscal year, on revenues of $1.3 billion, which were slightly less than 2017s.
Kodak was able to trim operating costs by $9 million and increased sales volume on it printing plates. Revenues for the year were down about $60 million compared with the previous year.
Highlights include:
GAAP net loss of $16 million for the year ended December 31, 2018, compared to GAAP net earnings of $94 million for the year ended December 31, 2017.
Revenues for 2018 of $1.3 billion compared to revenues for 2017 of $1.4 billion.
Operational EBITDA for the year of $1 million compared to Operational EBITDA in 2017 of $10 million.
Key product lines achieved strong year-over-year growth for the full year 2018:
Volume for KODAK SONORA Process Free Plates grew by 19 percent.
Annuity revenues for the KODAK PROSPER Press platform grew by 8 percent.
The company ended the year with a cash balance of $246 million.
The company entered into a definitive agreement to sell its Flexographic Packaging Division to Montagu Private Equity LLP, a leading private equity firm. FPD is presented within discontinued operations.
The full report can be read here.