Eastman Kodak Reports Profit From Cont. Ops In Q2; Revenues Down 9%

(RTTNews) - Eastman Kodak Company (KODK) reported income from continuing operations of $16 million for the second quarter of 2016, compared to a loss of $15 million, prior year. Operational EBITDA increased 29% year over year to $31 million, on a constant currency basis, excluding the expected decline in the consumer inkjet business' Operational EBITDA before corporate costs. The company said this was primarily due to productivity and cost improvements from core businesses.

Second-quarter revenues were $397 million, a 9% decline from the second quarter of 2015. The company said the decrease was primarily driven by year-over-year price declines and lower equipment sales in the Print Systems Division, as well as the expected continuing decline in legacy consumer inkjet printer cartridge sales.