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Wednesday
Jan262011

Kodak Profit Drops 95% In Final Quarter of 2010

Image Courtesy -- Brandon Goodman/Getty Images for the PGA TOUR(ROCHESTER, N.Y) – Upstate New York-based Eastman-Kodak said Wednesday that its fourth-quarter revenue numbers were down 25 percent from where expectations were for many different reasons. The company’s revenue totaled $1.93 billion in the period from October to December, falling short of the $2.11 billion analysts had predicted.

While slacking sales of film and older model camera equipment have sliced into Kodak’s profits, the company also says lower prices from new companies on digital products, falling licensing fees, and an increase in commodity prices hurt their bottom line.

Kodak faces strong competition from both Sony and Canon in the digital camera market.

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