Kodak Posts Loss On Weak Film Sales
Eastman Kodak Co. (EK) swung to a first-quarter loss and revenue dropped 31% amid continuing declines in its film segment, prompting shares to hit a fresh two-year low.
Kodak said revenue from its film business fell 14% to $367 million, hurt by increased raw material costs as silver and aluminum prices spiked.
Sure if there is no stock in stores, how can you sell anything????
Bob
At some point you would think they would sell the analog division to someone who cared, and do so while it is still worth something. But it is very easy to be an armchair businessman using someone else's money and risk.
Hmmm, if total revenue fell 31% and film only (?) fell 17%. Then did the film division outperform the remainder of the company??
Sounds like film is somewhat the scapegoat here!!
Maybe if they "tried" to make money wholeheartedly rather than halfassed.
Bob
Surprised they're not hedging the silver risk.
The silver move would be very expensive to hedge in a market where all commodities are rising.
But note the issues are shortfalls in "revenue". The issue of silver cost is added in as an excuse.
An entire company being down 31% in revenue is catastrophic. They have been betting on digital, appears that is not working.
they probably made the $$ when there was a rush to buy / hoard plus x a few months ago ...
Gee Kodak loosing money. Now there is a real surprise! How long has it been since they turned a profit?
*************************
Eric Rose
www.ericrose.com
I don't play the piano, I don't have a beard and I listen to AC/DC in the darkroom. I have no hope as a photographer.
Kodak is at a loss, Fuji Acros 100 film in the US has been bought up by speculators, not that I blame them, so what's left?
Ilford, with a hope that when they are the last great quality film company, they won't follow the Eastman Kodak model of short packaging, cutting supplies and products while raising prices across the board.
Efke, Adox and other like products along with Rollei and Fuji are all up at Freestyle. I've never said anything bad about Freestyle but they have moved Digital up in the catalog and the film prices online denotes either greed or crisis. This is my take on it. It probably is the capitalistic machine working there.
One roll of film or one gallon of gas?
I don't even read the details. It's a waste of time. They're still in business, aren't they?
I suspect they're somewhat like all the other businesses that we hear about. They run their business quite like my father ran his for years. He kept us fed and housed and a new car every two years.
His business model:
Sure, we lose a little on every transaction, but we make up for it on volume!!!
You don't have to understand how business operates... You just have to believe in the model.
Seems to work for many.
Consumer crappy digital camera sales have been gutted by decent phone cameras or people upgrading to DSLRs, whilst Kodak's designs look tired compared to the competitors.
The rumor is that Best Buy is moving their digital cameras onto a row shelf display next year, no longer giving them their own island.
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