Kodak keeps digital focus as traditional business declines

Inkjet growth brings in the money for Kodak.

Kodak’s second-quarter sales totalled $1.569 billion, an 11 per cent decrease from $1.766 billion in the second quarter of 2009. Revenue from digital businesses totalled $1.103 billion, a six per cent decrease from $1.173 billion in the prior-year quarter. Film, photofinishing and entertainment group revenue totalled $466 million, a 21 per cent decline from $593 million in the second quarter of 2009.

According to Antonio M. Perez, (pictured) chairman and chief executive officer, Eastman Kodak will continue to gain share in its growth businesses. “Our new digital businesses, particularly consumer and commercial inkjet, continue to gain traction, with sales growth outpacing the competition,” he said.

“We remain focussed on building a leaner, more competitive company, powered by innovative products that compete in large, new markets.”

Revenue from the company’s digital commercial printing businesses grew nine per cent in the second quarter, including 18 per cent growth in commercial inkjet printing. Consumer inkjet printer and ink revenue grew by 50 per cent in the second quarter. Profits from the company’s digital portfolio showed year-over-year improvement for the third consecutive quarter.

According to a statement from the company, for 2010, Kodak will remain focussed on three key financial goals, which the company first announced at its February investor meeting: digital revenue growth, earnings from operations, and cash generation.