kodak financial statements
Q3 2021 Actuals on constant currency ** vs. Q3 2020 Actuals, The Company ended the quarter with a cash balance of $380 million. 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.. 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 impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on. 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. On June 15, 2022, Kodak exercised its right to draw an additional $50 million of aggregate principal in the form of delayed draw term loans under the Term Loan Credit Agreement. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Portfolio. 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. 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 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. All Rights Reserved. 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. 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 Kodak's Annual Report on Form 10-K for the year ended December 31, 2021 under the headings "Business," "Risk Factors," "Legal Proceedings . KODK -5.46% DJIA -0.18% Russell 2K -1.39% Consumer Goods 4.02% Overview Earnings & Estimates Eastman Kodak Co. Kodak Alaris is a privately held global technology company that's delivering the futurenow. Operational EBITDA for the third quarter was $7 million, compared to $6 million in Q3 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. All Rights Reserved. All rights reserved. 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. Eastman Business Park segment is not a reportable segment and is excluded from the table above. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Want to read all 3 pages? * Total Operational EBITDA is a non-GAAP financial measure. Eastman Kodak Co. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. However, the income from the transition services agreement was included in the segment measure. Copyright 2023 Eastman Kodak Company. As planned, the Company also continues to invest in new product innovations and growth areas, said David Bullwinkle, Kodaks CFO. 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. Kodak used $15 million in cash for the quarter, primarily driven by ongoing global cost increases which we are taking actions to address. 15, 2022-- Eastman Kodak Company(NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billionand continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. We are committed to environmental stewardship and ongoing leadership in developing sustainable solutions. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. The capital structure is risky due to the large amounts of debt so it is good Kodak is trying to reduce it. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 . With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. For the quarter ended September 30, 2022, revenues were $289 million, an improvement of $2 million compared to the same period in 2021. Our core print business has achieved increased market share in environmentally-friendly process-free plates and we are well positioned to continue growing that important segment. 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. A former Phlow Corp. executive and his cousin were charged in New York with insider trading for allegedly trading on nonpublic information about a pandemic-related government loan to Eastman Kodak Co. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. Copyright 2023 Eastman Kodak Company. Achieved revenues in fourth quarter 2022 of $357 million and full year 2022 of $2.0 billion; Appointed John C. Jacobs as President and Chief Executive Officer; Updated U.S. government agreement to include up to 1.5 million additional doses of Novavax's COVID-19 vaccine for delivery in 2023; Expanded Nuvaxovid label in adult booster and adolescent primary series The increase was primarily the result of improvement in revenue and manufacturing costs from increases in volume partially offset by ongoing global cost increases in 2021. * Total Operational EBITDA is a non-GAAP financial measure. Operational EBITDA was favorably impacted by the growth in revenue due to improved pricing and volume, offset by higher ongoing global cost increases. Looking forward, well continue to execute our go-to-market strategy focused on driving profitable revenue and growth.. A Florida judge ordered rapper Kodak Black to drug rehab for 30 days on Tuesday after he allegedly tested positive for fentanyl while awaiting trial on a drug trafficking charge. 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. 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. in 2003 and to $-87 Mio. Results of Operations and Financial Condition. The judge, who made the ruling on Tuesday, said the rapper could remain free until after his appearance at the March 7 California iteration of Rolling Loud . Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). All Rights Reserved. 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. Full-year 2020 highlights include: Consolidated revenues of $1 billion Discovery Company profile page for Advanced Medical Technologies AG including technical research,competitor monitor,market trends,company profile& stock symbol Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. View the latest KODK financial statements, income statements and financial ratios. ** 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. Form Filing date View; 10-K: Mar 15, 2022: View HTML. Full-year 2021 highlights include: 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. On July 13, 2022, Kodak invested $25 million received from the loans to acquire a minority stake in Wildcat Discovery Technologies. The decrease is primarily attributable to increases in working capital, the impact of higher costs, increased capital investment and the investment in Wildcat Discovery Technologies, partially offset by proceeds received under the Term Loan Credit Agreement. Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. Cautionary Statement Regarding Forward-Looking Statements. 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. The Companys balance sheet is the strongest it has been in years due to the execution of our strategy. Finding new ways to leverage our core strengths and delivering for our customers will be our focus as we execute our strategic plan.. The prior year quarter included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion. 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. End of preview. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Performances of the newly named "Bob Fosse's 'Dancin' begin March 2 at the Music Box Theatre, with an opening night set for March 19.. 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. Discovery Company profile page for Shanghai Mifang Electronic Technology Co. Ltd. including technical research,competitor monitor,market trends,company profile& stock symbol Upload your study docs or become a 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. Annual stock financials by MarketWatch. 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 . The income was reported in Other operating income, net in the Consolidated Statement of Operations. 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. 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. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2022, including consolidated revenues of $289 million. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Adjustments to reconcile to net cash used in operating activities: Change in fair value of Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation reserves, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash (used in) provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net (decrease) increase 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. Consolidated revenues of $252 . This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020. There may be other factors that may cause Kodaks actual results to differ materially from the forward-looking statements. GAAP net income was $8 million for the third quarter, compared to a net loss of $445 million in the third quarter 2020. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. COLUMBUS, Ohio (AP) Railroads like the one involved in last month's fiery crash and toxic chemical release in Ohio would be subject to a series of new federal safety regulations and financial consequences under legislation being introduced Wednesday by the state's two U.S. senators.. An early copy of the Railway Safety Act of 2023, co-sponsored by U.S. Sens. Adjusting for the unfavorable impact of foreign exchange of $22 million in the current-year quarter, revenue increased by $24 million compared to the prior-year quarter. 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, June 30, 2022 and September 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 impact of the global economic environment, including inflationary pressures, 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 associated increased costs of materials, labor, shipping and operations, and fluctuations in demand; 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 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; 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 or alternate financing if and as needed, Kodaks continued ability to manage world-wide cash through inter-company loans, distributions and other mechanisms, and Kodak's ability to provide or facilitate financing for its customers; 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; 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. 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