Despite a growth in the digital arena, Kodak has reported a net loss of $142 million, or 50 cents per share, compared with net income of $21 million, or 7 cents per share, in the first quarter of 2004. Sales also fell by 3% to $2.83bn from $2.92bn in the same period last year. Kodak Chairman and Chief Executive Officer Daniel Carp says, "While the first quarter's performance was disappointing, such short-term volatility is to be expected as we transform Kodak into a digital company." Kodak's outlook is more positive as it predicts that it will achieve operational earnings of $2.60 to $2.90 a share in 2005.
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Despite a growth in the digital arena, Kodak has reported a net loss of $142 million, or 50 cents per share, compared with net income of $21 million, or 7 cents per share, in the first quarter of 2004. Sales also fell by 3% to $2.83bn from $2.92bn in the same period last year. Kodak Chairman and Chief Executive Officer Daniel Carp says, "While the first quarter's performance was disappointing, such short-term volatility is to be expected as we transform Kodak into a digital company." Kodak's outlook is more positive as it predicts that it will achieve operational earnings of $2.60 to $2.90 a share in 2005. 