Kodak Swings to Q2 Loss, Sees Wider Cuts

Eastman Kodak Co. said Wednesday that it swung to a loss in the second quarter from year-ago profit, and now expects to cut up to 25,000 jobs worldwide, instead of the 15,000 positions originally slated for elimination.

Quarterly losses totaled $146 million, or 51 cents per share, compared with earnings of $136 million, or 46 cents per share, a year ago. Revenue grew 6 percent to $3.69 billion from $3.46 billion last year.

Source: Forbes


Posted: Wed - July 20, 2005 at 08:46 AM