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. Eastman Kodak Company(NYSE: KODK) today reported financial results for the first quarter 2022, including consolidated revenues of $290 millionand continued growth in key product areas such as KODAKSONORA Process Free Plates and KODAKPROSPER System annuities. Want to read all 3 pages? 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. The notes accompanying the financial statements contained in the Companys Annual Report on Form 10-K for the year ended December 31, 2021 are an integral part of these consolidated financial statements. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. The Company had GAAP net income of $2 million for the quarter, compared to $8 million in the prior-year quarter. Get the latest KODK: Kodak detailed stock quotes, stock data, Real-Time ECN, charts, stats and more.. . Upload your study docs or become a Cautionary Statement Regarding Forward-Looking Statements. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. Adjustments to reconcile to net cash used in operating activities: Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation and postemployment reserves, (Benefit) provision for deferred income taxes, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from return on equity investment, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Copyright 2023 Eastman Kodak Company. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings Business, Risk Factors, Legal Proceedings, and/or Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources, in the corresponding sections of Kodaks Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: 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 Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impact of the global economic environment or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate or recoup associated increased costs of materials, labor, shipping and operations; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; 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 investments, acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. Follow. There may be other factors that may cause Kodaks actual results to differ materially from the forward-looking statements. Leadership Careers Diversity & Inclusion Social Responsibility Financials Environment, Health and Safety Locations Contact Us 15, 2022-- 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. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. Its prospects seem reduced to suing Apple and others for infringing on patents that it was never able to turn into winning. The notes accompanying the financial statements contained in the Companys first quarter 2022 Form 10-Q are an integral part of these consolidated financial statements. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. 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. Kurt Jaeckel, Kodak, +1 585-490-8646, kurt.jaeckel@kodak.com, Investor Contact: It is standard practice for businesses to present . * Total Operational EBITDA is a non-GAAP financial measure. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Balance Sheet. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended June 30, 2021, rather than the actual average exchange rates in effect for the three months ended June 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. 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. During the third quarter we continued to see strong growth in our key product areas, including SONORA Process Free Plates volume and PROSPER annuities which were up 35 and 17 percent respectively compared to the prior-year quarter, said David Bullwinkle, Kodaks CFO. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. For the quarter ended March 31, 2022, revenues were $290 million, an improvement of $25 million compared to the same period in 2021. In July 2022, Kodak invested $25 million of the proceeds received from the delayed draw term loans to acquire the minority stake in Wildcat. The prior year included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion and expense of $167 million related to the increase in deferred tax valuation allowances for locations outside the U.S. "Our profitability during the quarter was negatively impacted by the challenging business environment, including factors such as increasing labor and materials costs and the impact of foreign exchange. Jansen, the younger brother of actress Hayden Panettiere, died from an enlarged heart, according to his family.He was 28. Kodak continued to manage through an extremely challenging business environment to deliver revenue growth for the first quarter of 2022, said Jim Continenza, Kodaks Executive Chairman and CEO. We continue to invest in digital print technologies such as the KODAK PROSPER ULTRA 520 Press, which offers offset print quality and can help printers mitigate the supply and cost risks of traditional printing plates and eliminate the significant carbon footprint associated with manufacturing and distributing them. The company's EPS TTM is $-0.014; its P/E ratio is -241.89; Kodak is scheduled to report earnings on March 14, 2023, and the estimated EPS forecast is . For additional information on Kodak, visit us at kodak.com, follow us on Twitter @Kodak, or like us on Facebook at Kodak. Cash Flow Statement. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. As planned, the Company also continues to invest in new product innovations and growth areas, said David Bullwinkle, Kodaks CFO. 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. Su xito inicial se debi a la introduccin del carrete de papel en el mercado, reemplazando las placas de cristal que se empleaban hasta entonces, as como al lanzamiento de las primeras cmaras que empleaban carretes circulares. 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 . Broward County Judge Barbara Duffy allowed the performer to remain free until March 7 so he could perform at the Rolling Loud concert near Los Angeles over the weekend, The Miami Herald reported. For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. Discovery Company profile page for Shanghai Mifang Electronic Technology Co. Ltd. including technical research,competitor monitor,market trends,company profile& stock symbol Annual. 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. . INTRODUCCION La Eastman Kodak Company, popularmente conocida como Kodak, fue fundada en 1888. 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. No income was recognized in the year ended December 31, 2021. ", Revenue and Operational EBITDA by Reportable Segment Q3 2022 vs. Q3 2021. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Eastman Kodak Co. 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 prior year included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion and expense of $167 million related to the increase in deferred tax valuation allowances for locations outside the U.S. * Total Operational EBITDA is a non-GAAP financial measure. Operational EBITDA for the quarter was $6 million compared to negative $1 million in the prior-year quarter. Results of Operations and Financial Condition. Annual stock financials by MarketWatch. Quarterly or annual. Operational EBITDA represents the income from continuing operations excluding the provision for income taxes; non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other charges, net. 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. Copyright 2023 Eastman Kodak Company. 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. Fourth Quarter Financial Results On February 28, 2023, Novavax, Inc. issued a press release announcing the Company's financial results for. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. 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. AccountingBusinessFinancial Accounting All Rights Reserved. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Full-year 2020 highlights include: Consolidated revenues of $1 billion Find the latest Financials data for Eastman Kodak Company Common New (KODK) at Nasdaq.com. Eastman Kodak Company (NYSE: KODK) today reported financial results for the second quarter 2022, including consolidated revenues of $321 million and continued growth in key product KODAK SONORA Process Free Plates. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. 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