05.12.22
Eastman Kodak Company 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.
First-quarter 2022 highlights include consolidated revenues of $290 million, compared with $265 million for Q1 2021. GAAP net loss was $3 million, compared with net income of $6 million for Q1 2021. Operational EBITDA was negative $7 million, compared with $3 million for Q1 2021.
“Kodak continued to manage through an extremely challenging business environment to deliver revenue growth for the first quarter of 2022,” said Jim Continenza, Kodak’s executive chairman and CEO. “We are also focused on long-term growth, making significant investments in print technology and the four Advanced Materials and Chemicals initiatives we announced earlier this year. Finding new ways to leverage our core strengths and delivering for our customers will be our focus as we execute our strategic plan.”
“Our quarter-end cash balance was generally in line with our expectations,” said David Bullwinkle, Kodak’s CFO. “We have successfully navigated supply chain issues by carrying higher-than-historical levels of inventory to maintain supply for our customers. We plan to continue executing our long-term strategy despite the ongoing supply chain challenges and rising costs.”
First-quarter 2022 highlights include consolidated revenues of $290 million, compared with $265 million for Q1 2021. GAAP net loss was $3 million, compared with net income of $6 million for Q1 2021. Operational EBITDA was negative $7 million, compared with $3 million for Q1 2021.
“Kodak continued to manage through an extremely challenging business environment to deliver revenue growth for the first quarter of 2022,” said Jim Continenza, Kodak’s executive chairman and CEO. “We are also focused on long-term growth, making significant investments in print technology and the four Advanced Materials and Chemicals initiatives we announced earlier this year. Finding new ways to leverage our core strengths and delivering for our customers will be our focus as we execute our strategic plan.”
“Our quarter-end cash balance was generally in line with our expectations,” said David Bullwinkle, Kodak’s CFO. “We have successfully navigated supply chain issues by carrying higher-than-historical levels of inventory to maintain supply for our customers. We plan to continue executing our long-term strategy despite the ongoing supply chain challenges and rising costs.”