Rochester, NY 8/13/2009 9:47:27 AM
Eastman Kodak Co. EK - Eastman Kodak Sales and Shares Slumped Posts in Second Quarter Loss
Eastman Kodak Co. EK
Eastman Kodak Co. makes an announcement that their profits $189 million lost in second quarter on the third consecutive quarterly has deficit. The company’s sales of digital cameras, film and other photography products have drops.
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The results missed Wall Street expectations, and its stock slumped more than 10 percent.
The photography pioneer lost the equivalent of 70 cents a share in the April-June period, compared with profit of $495 million, or $1.62 a share, in the same quarter a year earlier. But it expects a batch of new electronics products will lift its performance in the second half of the year.
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