Eastman Kodak Co. (EKDKQ.PK) reported that its second-quarter net loss attributable to the company widened to $299 million or $1.10 per share, from $179 million or $0.67 per share in the same quarter last year.
Before reorganization items, the second quarter net loss narrowed to $139 million, from $179 million in the prior-year quarter. Second quarter reorganization items totaled $160 million, primarily reflecting second quarter non-cash provisions for allowed reorganization claims.
Total net sales for the quarter declined to $1.08 billion from $1.49 billion in the prior year quarter, reflecting the exit of digital cameras, reduced sales of traditional products, participation choices across its businesses, and the negative impact of currency exchange.
The company noted that the cash balance at the end of the quarter stood at $1.257 billion.
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by RTT Staff Writer
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