Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Operational EBITDA for the third quarter was $7 million, compared to $6 million in Q3 2021. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. 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. Cash Flow. Jansen, the younger brother of actress Hayden Panettiere, died from an enlarged heart, according to his family.He was 28. The "Tunnel Vision" artist, 25, will instead spend 30 days in a drug treatment program following a hearing in South Florida, local NBC affiliate WTVJ reported. It is standard practice for businesses to present . Discovery Company profile page for Shanghai Mifang Electronic Technology Co. Ltd. including technical research,competitor monitor,market trends,company profile& stock symbol For additional information on Kodak, visit us at kodak.com, follow us on Twitter @Kodak, or like us on Facebook at Kodak. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. Kodak used $15 million in cash for the quarter, primarily driven by ongoing global cost increases which we are taking actions to address. KODK -5.46% DJIA -0.18% Russell 2K -1.39% Consumer Goods 4.02% Overview Earnings & Estimates Eastman Kodak Co. 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. Third-quarter 2022 highlights include: Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis) 16, 2021-- Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2020, including consolidated revenues of $1 billion and an increase in cash in the second half of the year. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Cautionary Statement Regarding Forward-Looking Statements. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Our quarter-end cash balance was generally in line with our expectations, said David Bullwinkle, Kodaks CFO. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. 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. The impact of foreign exchange is calculated by using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Our innovative, award-winning products, combined with our customer-third approach, make us the partner of choice for commercial printers worldwide. Between June and July 2020, ANDREW STILES conducted an insider trading scheme in which he misappropriated material, non-public information ("MNPI") and used it to trade in the stock of the Eastman Kodak Company ("Kodak") and further provided that MNPI to his cousin, GRAY STILES, so that GRAY would likewise trade on the MNPI. All rights reserved. Consolidated revenues of $252 . ROCHESTER, N.Y.--(BUSINESS WIRE)--Mar. 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 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 non-binding 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; The impacts of the war in Ukraine and the international response thereto on our 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; 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. Kodak Refer to the following financial statements for Kodak: CASE 9-1 Kodak: Forecasting Pro Forma Financial Statements Required: Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Item 2.02. Full-year 2021 highlights include: For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. However, the income from the transition services agreement was included in the segment measure. 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. Operational EBITDA was favorably impacted by the growth in revenue due to improved pricing and volume, offset by higher ongoing global cost increases. Kodak's Q1 2012 financial statement reveals a $366 million net loss and a 27 percent decline in revenue from Q1 2011 (to $965 million), but the company has also significantly cut costs and. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2022, including consolidated revenues of $289 million. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, or The decrease is primarily attributable to the impact of higher costs, changes in working capital and increased capital investment. 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. Income Statement. Eastman Kodak Company today reported financial results for the third quarter 2020, including consolidated revenues of $252 million and a $13 million increase in cash. Rapper Kodak Black has avoided further jail time after he was accused of violating his bail terms in a drug possession case. 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. The company's EPS TTM is ; its P/E ratio is , and it has a dividend yield of . On June 15, 2022, Kodak exercised its right to draw down in full an additional $50 million in aggregate principal pursuant to the Term Loan Credit Agreement and received net proceeds of $49 million. 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. | February 28, 2023 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, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. The impact of foreign exchange is calculated by 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. Think of Kodak. * Total Operational EBITDA is a non-GAAP financial measure. 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.. Operating profit, which measures the success of a company in its normal, ongoing business operations apart from financing and investing activities and tax considerations, decreased significantly from $1,168 Mio. Cautionary Statement Regarding Forward-Looking Statements. Operational EBITDA for the first quarter was negative $7 million, compared to $3 million in Q1 2021. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2022, including consolidated revenues of $289 million. Kodak's market cap is currently . "We generated positive cash flow in the fourth quarter of 2019 and had. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. 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. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Revenues and Operational EBITDA on a constant currency basis. Eastman Kodak Company 2020 Annual Report on Form 10-K and Notice of 2021 Annual Meeting and Proxy Statement. 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 Report on Form 10-Q for the quarter ended March 31, 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 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. Upload your study docs or become a Portfolio. In this full year 2021 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. We also saw increases in customer satisfaction and market share in our key print business, achievements which reflect the success of our ongoing strategy: focus on our core businesses in commercial print and advanced materials and chemicals, invest in product innovation and put our customers at the center of everything we do.. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS Cash and cash equivalents Trade receivables, net of allowances of $8 and $9 Inventories, net . 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. This report presents the comparative financial analysis of the financial statements of Eastman Kodak and Nikon companies for the period ended 31 st December, 2009. Cautionary Statement Regarding Forward-Looking Statements. 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. As they began experiencing a decline in the demand for cameras and film, and as we saw a shift to smartphones . Annual stock financials by MarketWatch. The Company ended 2021 with $362 million in cash, an increase of $166 million from December 31, 2020, said David Bullwinkle, Kodaks CFO. "Jansen's heart could be seen in his eyes, and his charm in his brilliant, engaging smile; his soul in his masterful and revealing paintings, and the joy of life in his dry wit," the . Kodak Reports Full-Year 2021 Financial Results, https://www.businesswire.com/news/home/20220315005996/en/, Other operating income, net, excluding income from transition services agreement, Pension income excluding service cost component, Earnings from discontinued operations, net of income taxes, Selling, general and administrative expenses, Loss from continuing operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other (income) charges, net and income taxes, Earnings (loss) from continuing operations before income taxes, Earnings (loss) from continuing operations, Property, plant and equipment, net of accumulated depreciation, Short-term borrowings and current portion of long-term debt, Pension and other postretirement liabilities. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Kodak ended the third quarter with a cash balance of $380 million, an increase of $184 million from December 31, 2020. We will continue to execute on our long-term plan focusing on our core businesses and investing in future growth., Revenue and Operational EBITDA by Reportable Segment Q3 2021 vs. Q3 2020. Consulting and other costs are professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. Form Filing date View; 10-K: Mar 15, 2022: View HTML. 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 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. Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis) GAAP net income of $2 million, compared with $8 million for Q3. Looking forward, well continue to focus on driving profitable revenue by concentrating on our core businesses and helping our customers build theirs.. ROCHESTER, N.Y.- (BUSINESS WIRE)-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. Operational EBITDA for the second quarter was $11 million, compared to $10 million in Q2 2021. 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 potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. On July 13, 2022, Kodak invested $25 million received from the loans to acquire a minority stake in Wildcat Discovery Technologies. Leadership Careers Diversity & Inclusion Social Responsibility Financials Environment, Health and Safety Locations Contact Us The Companys balance sheet is the strongest it has been in years due to the execution of our strategy. Full-year 2020 highlights include: Consolidated revenues of $1 billion Id like to thank our loyal customers and our employees for helping us deliver these results," said Jim Continenza, Kodaks Executive Chairman and CEO. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. 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. to $302 Mio. Q3 2022 Actuals on constant currency ** vs. Q3 2021 Actuals, Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis), GAAP net income of $2 million, compared with $8 million for Q3 2021, Operational EBITDA of $7 million, compared with $6 million for Q3 2021, A quarter-end cash balance of $216 million, compared with $362 million at the end of 2021, Q3 performance of key products compared with Q3 2021: SONORA Process Free Plates volume declined 10%, PROSPER inkjet annuities revenue declined 11% (increased 1% on a constant currency basis). 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. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. * Total Operational EBITDA is a non-GAAP financial measure. 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