History in the making…
On Thursday Kodak reported a net loss of $58.1 million in January on sales of $127.9 million. Its loss from continuing operations totaled $57.2 million. Kodak had reported a net loss in December of $272.4 million on sales of $152.1 million. Is it possible that in a few months Kodak will finally show a month with a profit? Kodak keeps saying that they will be out bankruptcy by mid 2013.
On Friday Kodak announced that it has reached an agreement with its lenders that gives Kodak more financial flexibility. Kodak said that “certain terms of the financing” have been amended, but didn’t specify which terms. Also, Kodak and its lenders will hire a search firm to find potential new directors for the Board of Directors to lead Kodak after it emerges from bankruptcy.
This isn’t Kodak news but there was this blog post on Tuesday by Tim Barribeau, a digital imagery writer. He discuses how in 1946 Kodak discovered that radioactive iodine from nuclear tests was in corn from Indiana. Kodak even took on the Atomic Energy Commission who finally agreed to give Kodak and the entire film industry, information about nuclear tests, weather patterns, predicted fallout and more.