Eastman Kodak Company Q1 Results Include Sonora Volume Grows by 21%

Eastman Kodak Company (NYSE:KDK) reported its latest quarterly earnings results after the bell Wednesday, which saw shares slide as the company posted a loss but some of its products performed well.

Eastman Kodak CompanyThe camera and photo developing company announced that its first quarter of fiscal 2018 brought in a net loss of $25 million, which was $5 million wider than its year-ago loss of $20 million. The company had an operational EBITDA of $1 million for the quarter.

Eastman Kodak added that its quarterly revenue came in at $357 million for the period, which was flat compared to its $357 million in revenue from the first quarter of fiscal 2018. However, several of the company’s marquee product lines experienced growth.

Its Kodak Sonora Process Free Plates saw a 21% surge in volume compared to the year-ago quarter, while volume for its Kodak Flexcel NX Plates were better by 15% compared to the year-ago quarter. The company’s annuity revenues for the Kodak Prosper inkjet platform was higher by 14% compared to the year-ago quarter.

Eastman Kodak ended the quarter with a cash balance of about $313 million. “Kodak had continued strong performance in SONORA Process-Free Plates, FLEXCEL NX Packaging and PROSPER Inkjet annuities,” said Jeff Clarke, Kodak CEO. “We are on plan to deliver full-year revenue and Operational EBITDA performance within the expected guidance range.”

KODK stock fell by about 1.8% after the bell Wednesday.

Article printed from InvestorPlace Media, https://investorplace.com/2018/05/eastman-kodak-company-kodk-2/.

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