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Eastman Kodak loss narrows in 2Q
NEW YORK (AP) - Eastman Kodak Co. says its second-quarter net loss narrowed as it cut costs and reorganized under bankruptcy protection.
The Rochester, N.Y.-based company filed for bankruptcy protection in January, unable to keep pace with the shift from film to digital photography over the past decade. It hopes to emerge from bankruptcy protection a leaner and more profitable company in 2013.
Net loss for the April to June quarter totaled $299 million, from $179 million last year. Excluding costs related to restructuring and reorganization under bankruptcy protection, its loss narrowed to $139 million, from $179 million last year.
Revenue fell 27 percent to $1.08 billion, due to the company’s exit from the digital camera business, lower sales of traditional camera products and the stronger dollar.
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