// IP Marketing video - START// IP Marketing video - END

Kodak posts $366 million loss for Q1

Kodak posts $366 million loss for Q1

PanARMENIAN.Net - Kodak has posted yet another disappointing quarter despite its efforts to cut costs, sell patents, and jettison its unprofitable businesses, SlashGear reports.

For the first quarter of 2012, ending March 31, Kodak reported a $366 million loss with total revenue at $965 million, which is down 27 percent from the same quarter last year.

Kodak has attributed the continued downward spiral to its disappearing traditional, film-based business, declining digital camera sales, and a one-time $61 million revenue cut from a tax refund.

The company also recently decided to shed its digital camera business altogether.

Its cost cutting measures did save them $84 million compared to the same quarter the year before. It also consolidated its Consumer and Commercial business segments, which both saw slight improvements. The last time Kodak turned a profit was sadly back in 2007. The once iconic brand has been struggling with restructuring since and filed for Chapter 11 bankruptcy protection this past January.

 Top stories
Armenia's economy is expected to expand by 5.8% in 2017 and grow further by 3.8% and 3.6% in the following two years, the UN said.
"7.5 million liters of wine were produced in the country in 2016, which is by 14% more than the amount produced a year earlier," Karapetyan said.
"There is ample proof that Monsanto's sprays have poisoned our environment contributing drastically to dying off of bees," Tankian said.
Armenia ranks 47 on the ease of doing business index against the 38 spot last year, the World Bank Group’s annual Doing Business report said.
Partner news