Eastman Kodak Company (NYSE: KODK) today reported financial results for the second quarter 2022, including consolidated revenues of $321 million and continued growth in key product KODAK SONORA Process Free Plates. Results of Operations and Financial Condition. Think of Kodak. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. As they began experiencing a decline in the demand for cameras and film, and as we saw a shift to smartphones . All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. In addition, we continue to make significant investments in recently announced growth initiatives in our Advanced Materials & Chemicals business, expanding our pilot coating facility and taking a minority stake in Wildcat Discovery Technologies, Inc., a private technology company that uses proprietary methods to research and develop new battery materials and is developing a breakthrough EV super cell battery technology. Adjustments to reconcile to net cash used in operating activities: Change in fair value of Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation reserves, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash (used in) provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net (decrease) increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Revenues and Operational EBITDA on a constant currency basis. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. "Jansen's heart could be seen in his eyes, and his charm in his brilliant, engaging smile; his soul in his masterful and revealing paintings, and the joy of life in his dry wit," the . ROCHESTER, N.Y.- (BUSINESS WIRE)-Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". Ten years of annual and quarterly financial statements and annual report data for Eastman Kodak (KODK). In this full year 2021 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. Our core print business has achieved increased market share in environmentally-friendly process-free plates and we are well positioned to continue growing that important segment. Balance Sheet. The change in revenues and Operational EBITDA on a constant currency basis, as presented in this financial results news release, is calculated by using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. Kodak (KODK) Financial Statements. The prior year quarter included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion. Jansen, the younger brother of actress Hayden Panettiere, died from an enlarged heart, according to his family.He was 28. CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of De 2019 ASSETS Cash and cash equivalents $ 233 Trade receivables, net of allowances of $8 and . When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Revenues and Operational EBITDA on a constant currency basis. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Unaudited) (in millions) March 31, December 31, 2021 2020 ASSETS Cash and cash equivalents $ 196401 $ Trade receivables, net of allowances of $9 and $10, respectively 165 177 . When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Operational EBITDA represents the income from continuing operations excluding the provision for income taxes; non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other charges, net. Balance Sheet. We have successfully navigated supply chain issues by carrying higher-than-historical levels of inventory to maintain supply for our customers. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Financial Statements: The Starting point In the Study Of accounting The principal means of reporting general-purpose financial information to persons outside a business organization is a set of accounting reports called financial statements Statements: The Starting point In the Study Of accounting Get the latest KODK: Kodak detailed stock quotes, stock data, Real-Time ECN, charts, stats and more.. . ** The impact of foreign exchange represents the 2021 foreign exchange impact using average foreign exchange rates for the three months ended September 30, 2020, rather than the actual average exchange rates in effect for the three months ended September 30, 2021.Eastman Business Park segment is not a reportable segment and is excluded from the table above. Our innovative, award-winning products, combined with our customer-third approach, make us the partner of choice for commercial printers worldwide. "In the third quarter, the Companys primary uses of cash were investments in our previously-announced growth initiatives and increasing working capital to support our existing operations," said David Bullwinkle, Kodaks CFO. As planned, the Company also continues to invest in new product innovations and growth areas, said David Bullwinkle, Kodaks CFO. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, . Kodak continued to navigate through an unusually challenging business environment in 2021 and delivered revenue growth in all our segments for the first time in years, said Jim Continenza, Kodaks Executive Chairman and CEO. The impact of foreign exchange is calculated by using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Consists of third-party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. The decrease is primarily attributable to increases in working capital, the impact of higher costs and increased capital investment. Operational EBITDA for the first quarter was negative $7 million, compared to $3 million in Q1 2021. * Total Operational EBITDA is a non-GAAP financial measure. We have also officially launched two products powered by our groundbreaking ULTRASTREAM inkjet technology: the KODAK PROSPER ULTRA 520 Press, which offers offset print quality in a smaller footprint, and the first flexible package printing system, the UTECO Sapphire EVO W Press. Consolidated revenues of $252 . Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings "Business," "Risk Factors," "Legal Proceedings," and/or "Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources," in the corresponding sections of Kodaks Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the impact of the global economic environment, including inflationary pressures, or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate associated increased costs of materials, labor, shipping and operations, and fluctuations in demand; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional or alternate financing if and as needed, Kodaks continued ability to manage world-wide cash through inter-company loans, distributions and other mechanisms, and Kodak's ability to provide or facilitate financing for its customers; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Kodaks ability to effect strategic transactions, such as investments, acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended September 30, 2021, rather than the actual average exchange rates in effect for the three months ended September 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. The judge, who made the ruling on Tuesday, said the rapper could remain free until after his appearance at the March 7 California iteration of Rolling Loud . When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. On July 13, 2022, Kodak invested $25 million received from the loans to acquire a minority stake in Wildcat Discovery Technologies. About Eastman Kodak Financial Statements There are typically three primary documents that fall into the category of financial statements. View the latest KODK financial statements, income statements and financial ratios. The current year Operational EBITDA results did not benefit from $25 million in savings from temporary pay cuts and furloughs that largely ended in January 2021. ** The impact of foreign exchange represents the 2021 foreign exchange impact using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. Adjusting for the unfavorable impact of foreign exchange of $22 million in the current-year quarter, revenue increased by $24 million compared to the prior-year quarter. 15, 2022-- Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billion and continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. "This continuing growth reflects our management teams experience with difficult business environments and our commitment to finding ways of putting our customers first despite ongoing inflationary and supply chain challenges. Full-year 2021 highlights include: Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy., Revenue and Operational EBITDA by Reportable Segment Q2 2022 vs. Q2 2021. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005996/en/, Media Contact: Kurt Jaeckel, Kodak, +1 585-490-8646, [email protected], Investor Contact: Paul Dils, Kodak, +1 585-724-4053, [email protected]. A former Phlow Corp. executive and his cousin were charged in New York with insider trading for allegedly trading on nonpublic information about a pandemic-related government loan to Eastman Kodak Co. Kodak is a global technology company focused on print and advanced materials & chemicals. Operating profit, which measures the success of a company in its normal, ongoing business operations apart from financing and investing activities and tax considerations, decreased significantly from $1,168 Mio. 16, 2021-- Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2020, including consolidated revenues of $1 billion and an increase in cash in the second half of the year. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Consists of third party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. However, the income from the transition services agreement was included in the segment measure. ", Revenue and Operational EBITDA by Reportable Segment Q3 2022 vs. Q3 2021. Income statements, balance sheets, cash flow statements and key ratios. Q3 2021 Actuals on constant currency ** vs. Q3 2020 Actuals, The Company ended the quarter with a cash balance of $380 million. "We generated positive cash flow in the fourth quarter of 2019 and had. View Kodak Financial statements.xlsx from ENTR 3100 at Kwantlen Polytechnic University. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). * Total Operational EBITDA is a non-GAAP financial measure. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. We continue to execute on our plan by driving increases in cost efficiency through automation and process innovation and redesign., Revenue and Operational EBITDA by Reportable Segment FY 2021 vs. FY 2020. On June 15, 2022, Kodak exercised its right to draw down in full an additional $50 million in aggregate principal pursuant to the Term Loan Credit Agreement and received net proceeds of $49 million. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Cautionary Statement Regarding Forward-Looking Statements. (2.2MB) Canon will provide a hard copy of its latest annual report, which includes completed audited financial statements, free of charge to shareholders upon . Follow. Cautionary Statement Regarding Forward-Looking Statements. The change in revenues and Operational EBITDA on a constant currency basis, as presented in this financial results news release, is calculated by using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. Financial Overview ; Income Statements . All rights reserved. With a strategy of company's focus on pictures, new products, a strengthening market position, and investments for growth, Kodak has experienced in traditional film and photo imaging business for more than a century. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. We also saw increases in customer satisfaction and market share in our key print business, achievements which reflect the success of our ongoing strategy: focus on our core businesses in commercial print and advanced materials and chemicals, invest in product innovation and put our customers at the center of everything we do.. Q3 2022 Actuals on constant currency ** vs. Q3 2021 Actuals, Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis), GAAP net income of $2 million, compared with $8 million for Q3 2021, Operational EBITDA of $7 million, compared with $6 million for Q3 2021, A quarter-end cash balance of $216 million, compared with $362 million at the end of 2021, Q3 performance of key products compared with Q3 2021: SONORA Process Free Plates volume declined 10%, PROSPER inkjet annuities revenue declined 11% (increased 1% on a constant currency basis). Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2022, including consolidated revenues of $290 million and continued growth in key product areas such as KODAK SONORA Process Free Plates and KODAK PROSPER System annuities. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million * Total Operational EBITDA is a non-GAAP financial measure. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Eastman Kodak Company (KODK) Income Statement - Yahoo Finance U.S. markets closed (+0.31%) Dow 30 Nasdaq +72.04(+0.63%) Russell 2000 +5.78(+0.31%) (+0.11%) (-0.03%) Eastman Kodak Company. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. Discovery Company profile page for Advanced Medical Technologies AG including technical research,competitor monitor,market trends,company profile& stock symbol For the quarter ended September 30, 2022, revenues were $289 million, an improvement of $2 million compared to the same period in 2021. The use of cash in the second quarter primarily reflects higher inventory levels which strengthen our ability to serve our customers and support increased revenues. Kodak continued to manage through an extremely challenging business environment to deliver revenue growth for the first quarter of 2022, said Jim Continenza, Kodaks Executive Chairman and CEO. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. All Rights Reserved. KODK -5.46% DJIA -0.18% Russell 2K -1.39% Consumer Goods 4.02% Overview Earnings & Estimates Eastman Kodak Co. Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; The performance by third parties of their obligations to supply products, components or services to. Kodak Financial Overview. There may be other factors that may cause Kodaks actual results to differ materially from the forward-looking statements. This report presents the comparative financial analysis of the financial statements of Eastman Kodak and Nikon companies for the period ended 31 st December, 2009. Eastman Kodak financial statements provide useful quarterly and yearly information to potential Eastman Kodak Co investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. Operational EBITDA for the third quarter was $7 million, compared to $6 million in Q3 2021. Cash Flow Statement. Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodak's Annual Report on Form 10-K for the year ended December 31, 2021 under the headings "Business," "Risk Factors," "Legal Proceedings . For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 . The current year Operational EBITDA results did not benefit from $25 million in savings from temporary pay cuts and furloughs that largely ended in January 2021. The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Operational EBITDA and Operational EBITDA on a constant currency basis for the three months ended March 31, 2022 and 2021, respectively: As reported in the Consolidated Statement of Operations. Broward County Judge Barbara Duffy allowed the performer to remain free until March 7 so he could perform at the Rolling Loud concert near Los Angeles over the weekend, The Miami Herald reported. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. The Company had GAAP net income of $20 million for the quarter, compared to $16 million in the prior-year quarter. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, or Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. Su lema en aquella poca describe bastante bien su propuesta de . Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Eastman Kodak Company(NYSE: KODK) today reported financial results for the first quarter 2022, including consolidated revenues of $290 millionand continued growth in key product areas such as KODAKSONORA Process Free Plates and KODAKPROSPER System annuities. Request for Annual Report. Id like to thank our loyal customers and our employees for helping us deliver these results," said Jim Continenza, Kodaks Executive Chairman and CEO. Operational EBITDA for the year ended December 31, 2021 was $11 million, compared to negative $1 million in 2020. All Rights Reserved. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. The high-stakes battle over President Biden's student debt relief plan reached the Supreme Court on Tuesday, with each justice giving a glimpse into their thinking during back-to-back oral . Copyright 2023 Eastman Kodak Company. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. View as % YoY growth or as % of revenue. ** The impact of foreign exchange represents the 2021 foreign exchange impact using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. william shue cause of death, lithuanian goddess names, Three kodak financial statements documents that fall into the category of financial statements There are typically three primary that... Minority stake in Wildcat Discovery Technologies millions of dollars for example, $ 1,242 generated positive cash statements... On commercial print and advanced materials & chemicals EBITDA is a leading global manufacturer on... 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