Year End Results for Kodak

[Ted Striker]

Yesterday Kodak reported their end of year fiscal results.


The news was disappointing to investors and the stock is being hammered hard, down 8% so far in today's trade.


For 2018 Kodak had a net loss of 16 million dollars, compared to earning 94 million dollars in 2017.



Yearly revenue shrank by 61 million dollars. Cash flow is negative with a draw down of 94 million dollars. Kodak hopes to be cash positive in 2019 but gave no indication how it would achieve this.


The Consumer Film division's losses increased last year. 19 million dollars lost in 2018 vs 18 million lost in 2017. Revenue dropped 9 million dollars.



Kodak still has very large debts to pay off soon and has not yet found a funding source to re-finance this debt.



Kodak hopes to sell off their Flexigraphic division to help retire this debt.


As in past years, Kodak continues to shrink as a company.

 

[seany65]

Shame, Looks like kodak "aren't long for this world".

 

[lynnb]

Outwardly disappointing result but what is the complete picture.. e.g. if they've made a big investment in Ektachrome but the sales don't cover most of the financial year, and if sales are strong and on an upward path then it might be a different story next year. I hope so. Would be a shame to lose Tri-X if they go under. I like the new E100 but too expensive for me.

 

[philosli]

My worry is that the days of Kodak films are numbered.

 

[Ted Striker]

Outwardly disappointing result but what is the complete picture.. e.g. if they've made a big investment in Ektachrome but the sales don't cover most of the financial year, and if sales are strong and on an upward path then it might be a different story next year. I hope so. Would be a shame to lose Tri-X if they go under. I like the new E100 but too expensive for me.

To the extent that film moves Kodak's numbers, it's motion picture film. Still film is an extremely tiny amount of volume for Kodak an has a proportionally smaller effect on their business. It's not even mentioned in Kodak's report to investors.


Edit: Also remember, it's Kodak's commercial printing business that will determine the fate of the company, as that is its core product line. If they can succeed at commercial printing, then they have a future.

 

[Karlovak]

It's hard for such a huge company to down-size themselves. If they go down as a whole, so be it. But it would be a PR disaster to individually cut the film production line completely.

I wonder why such losses compared to 2017.

 

[Ted Striker]

I wonder why such losses compared to 2017.

Revenue is down and so there are not enough profits to cover their fixed costs. Kodak has been unable to grow revenue for many, many years. They cannot shrink their costs forever. Many costs are fixed and so if revenue can't grow, then losses appear.

 

[brbo]

The Consumer Film division's losses increased last year. 19 million dollars lost in 2018 vs 18 million lost in 2017. Revenue dropped 9 million dollars.

No such division in Kodak's financials till now. Consumer AND Film?

 

[maigo]

It's hard for such a huge company to down-size themselves. If they go down as a whole, so be it. But it would be a PR disaster to individually cut the film production line completely.

I wonder why such losses compared to 2017.

https://seekingalpha.com/article/4...kodk-q4-2018-results-earnings-call-transcript




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[olifaunt]

Would be a shame to lose Tri-X if they go under.

Wait, are we talking about (Eastman) Kodak or Kodak Alaris? Kodak Alaris makes Tri-X, and I thought Alaris was a separate entity from Kodak.

 

[dave lackey]

Ted Striker and his Kodak obsession is back. Why is that?😉

 

[p.giannakis]

Wait, are we talking about (Eastman) Kodak or Kodak Alaris? Kodak Alaris makes Tri-X, and I thought Alaris was a separate entity from Kodak.

Good question. Do we know the answer?

 

[Skiff]

Wait, are we talking about (Eastman) Kodak or Kodak Alaris? Kodak Alaris makes Tri-X, and I thought Alaris was a separate entity from Kodak.

We are talking about Eastman Kodak. They are the manufacturer of all Kodak films!! Nothing has changed in this field since their chapter 11 insolvency.
Kodak Alaris is the distributor of all Kodak photo films (not motion picture films).

 

[Archlich]

All the film renaissance talk and sky rocketing price of used cameras, then this.

It's the true color of the hype...

 

[Bill Clark]

Information:

https://www.nasdaq.com/symbol/kodk/financials?query=balance-sheet

https://www.nasdaq.com/symbol/kodk/financials

What can you draw from this?

 

[ptpdprinter]

Outwardly disappointing result but what is the complete picture.. e.g. if they've made a big investment in Ektachrome but the sales don't cover most of the financial year, and if sales are strong and on an upward path then it might be a different story next year. I hope so. Would be a shame to lose Tri-X if they go under. I like the new E100 but too expensive for me.

Ektachrome is not going to turn around Kodak. It is a rounding error in their financials.

 

[DanskDynamit]

it would be interesting to know how the film division performed

 

[CharlesDAMorgan]

I looked through the 10k (takes me back to my investment banking days) and consumer film is within a larger division including circuit board film. It's a tiny part of the whole and there is no information at all about what we are interested in.

 

[Ted Striker]

Ted Striker and his Kodak obsession is back. Why is that?😉

Who here is not interested in the future of Kodak?

 

[Ted Striker]

Wait, are we talking about (Eastman) Kodak or Kodak Alaris? Kodak Alaris makes Tri-X, and I thought Alaris was a separate entity from Kodak.

Kodak Alaris is a British company that does not report quarterly financials, nor does it trade on any stock market.