Eastman Kodak reports Q1 EPS (12c) vs. 30c last year

Reports Q1 revenue $247M vs . $249M last year. The company said, “In the first quarter, we continued to focus on key elements of our long-term plan: streamlining our operations, shedding unprofitable businesses and investing in long-term growth initiatives. Our Advanced Materials & Chemicals unit continues to leverage our strengths in layering, coating and chemicals to drive growth now and develop new businesses for the future. The group’s new cGMP manufacturing facility, which we expect to be online later this year, will expand our current pharma business into manufacturing FDA-regulated diagnostic test reagents. Our investment in the new pharma facility is just one example of our commitment to investing in U.S.-based manufacturing. We also manufacture all our film products and the world’s fastest inkjet presses in the U.S., and we are the last remaining U.S. manufacturer of lithographic printing plates. Our commitment to manufacturing in-country gives our customers the highest quality and a more reliable supply and reduces our environmental impact. In the first quarter, Kodak also continued to progress as planned in the termination of our KRIP U.S. pension plan and establishment of a comparable new plan for our employees. Looking ahead, we will continue to navigate an uncertain short-term business environment by unwavering focus on execution of our long-term plan.”