(RTTNews) - Eastman Kodak Co. (EK: News ), a provider of technology products and services, Thursday reported a loss for the third quarter of fiscal 2009, compared with a profit a year ago, hurt by significant revenue decline in its business segments amid economic recession and continued restrictions in the credit markets. The company also confirmed its fiscal 2009 GAAP loss forecast.

For the third quarter, the company reported a net loss attributable to Eastman Kodak Co. of $111 million or $0.41 per share, compared with a profit of $96 million or $0.33 per share last year.

The company's third-quarter GAAP loss from continuing operations was $111 million or $0.41 per share, compared to earnings of $101 million or $0.35 per share in the same quarter last year.

Net expense items that impacted the third quarter of 2009 totaled $48 million after tax, or $0.18 per share, primarily related to restructuring charges, asset sales, and tax related items. Last year's third quarter included net benefit items of $40 million after tax, or $0.13 per share, mainly due to certain changes to the company's post-employment benefits, partially offset by restructuring and rationalization costs.

Excluding one-time items, the company's loss for the third quarter was $63 million or $0.23 per share. The company also posted loss from continuing operations, before interest expense, other net items and income taxes of $81 million, compared with earnings of $147 million in the year-ago quarter.

On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.
For the preceding second quarter, the company posted a net loss of $189 million or $0.70 per share, loss from continuing operations of $191 million or $0.71 per share.

Eastman Kodak's quarterly revenues were $1.78 billion, down 26% from $2.41 billion in the comparable quarter last year. The revenue decline included 2% of unfavorable foreign exchange impact. Analysts expected the company to report revenue of $1.89 billion for the quarter. For the second quarter, the company reported revenues of $1.77 billion.

Revenue from digital businesses totaled $1.21 billion in the quarter, a 26% decline from $1.64 billion in the prior-year quarter, primarily due to global recession and continued restrictions in the credit markets that are dampening commercial printing purchases. Revenue from the company's traditional business decreased 25% to $572 million in the quarter.

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