Kodak Posts 6th Straight Quarterly Loss

[gitarzan]

Bill - the Kodachrome 25 thing was a joke. But I liked it. I also liked Agfa CT18 and CT 21. And that GAF 400 stuff. I also dabbled in Orwochrome for a bit.

I thought it was more like a cynical curse! 😀

 

[Trius]

Personally, I believe that when they dropped thick emulsion films such as Super-XX they started falling over the cliff. K25 and Panatomic-X were just confirmations. There was a ray of hope with Kodachrome 400 (T-grain based), but that emulsion never made it to market.

 

[John Camp]

It's weird when huge, massively brainy companies do all kinds of fundamental research and then, as though they don't believe their own stuff, fail to capitalize on it. Xerox invented the Windows concept, IBM came up with the PC but forgot (darn!) to insist on keeping at least a piece of the operating system, AT&T is now an Atlanta-based front for a low-tech phone system, Kodak knew what digital could do, and developed many of the tools and techniques, but somehow got caught flat-footed when it did it, GM and Ford have been sliding into the crapper for 40 years, even though German and Japanese companies are now building factories in the South for the low-cost, high-skills work force...when I first came to the Twin Cities, the biggest employer other than 3M was Control Data. Oops. They were right across the road from Cray Computers. Oops.

Still, looking on the bright side, I insist -- INSIST -- that America still leads the world in automotive cup-holder technology. You ever try to use a cup-holder in a Porsche?

JC

 

[aad]

I don't think Porsches have cupholders except for the aberrant Cayenne.

Isn't film, though sliding in sales, the only profitable part of Kodak now? Just a guess.

 

[Solinar]

Film and photofinishing sales slumped to $916 million from $1.27 billion a year ago while operating profits dropped to $29 million from $71 million.

Read the numbers film and photofinishing sales are dwindling. Kodak is a conglomerate with a finger in many pies. The trouble with being Big Yellow is that $29 million in profits from film and photofinishing doesn't go very far.

I miss Verichrome Pan and will miss Tri-X when its gone, but honestly Kodak doesn't have a substainable plan to make film over the long haul. It may be a godsend for their rivals still in the business for Big Yellow to bail sooner than later.

 

[Kev T]

Ironic that the world's leading film products manufacturer created many of the digital imaging technology that seems to be doing them in at this time...

The single largest cosumer of film products now is the motion picture / cinema industry for them, and Kodak is actively developing filmless next generation digital cinema technologies with various industry partners...

As others here say, do they actually know what to do with the technologies they're developing? Or will others end up enjoying the fruits of Kodak's labor?

Kev

 

[harmsr]

Film and photofinishing sales slumped to $916 million from $1.27 billion a year ago while operating profits dropped to $29 million from $71 million.

Forget about what film you like or wish was never dropped and think about this financially.

3.17% operating profits which is before tax and interest. This is VERY serious. You can earn more than this in municipal bonds with NO RISK. Kodak MUST improve margins on sales through a variety of methods to stay afloat. The shareholders will force the board to change this type of profitability or get others in place that will improve it by whatever means necessary (including closing or selling off entire divisions to stem the bleeding).

Ray

 

[bmattock]

Forget about what film you like or wish was never dropped and think about this financially.

3.17% operating profits which is before tax and interest. This is VERY serious. You can earn more than this in municipal bonds with NO RISK. Kodak MUST improve margins on sales through a variety of methods to stay afloat. The shareholders will force the board to change this type of profitability or get others in place that will improve it by whatever means necessary (including closing or selling off entire divisions to stem the bleeding).

Ray

They claim to be investigating selling off their 100+ year old medical imaging unit, which could wipe out the 2.6 billion (yes Buh-illion) dollar debt they service. Perez claims that the turnaround plan will put Kodak losing a total for the FY 2005 of something like 800 to 900 million and shrink that in 2007, with profit within five years after that. It is tough times, no doubt. But the market seems to approve of their strategy - they're currently up six bucks from their 52-week low.

Best Regards,

Bill Mattocks

 

[Trius]

Still, looking on the bright side, I insist -- INSIST -- that America still leads the world in automotive cup-holder technology. You ever try to use a cup-holder in a Porsche?

JC

I'll take the cupholders in my CR-V any day.