GCG gross profits were up 11% from US$189m (A$211.9m) to US$210m (A$235.5m) in the three month to 31 December 2009. Kodak GCG operating earnings were up US$40m year on year to US$36m from a US$4m loss last year.
Overall, Kodak recorded a profit of US$430m on sales of US$2.58bn, up 45% from the last quarter and up 6% year-on-year, prompting a 19% surge in the company’s share price. Full-year revenues were down 19% from US$9.41bn in 2008 to US$7.6bn in 2009.
The 5% fall in GCG sales from US$821m in Q4 2008 to US$779m in Q4 2009 was mirrored by a 5% decline in ‘Prepress Solutions’.
According to the company: “Net sales of ‘Prepress Solutions’ decreased 5% for the quarter, primarily driven by volume declines and unfavourable price/mix of output devices, analogue plates and other pre-press equipment.
“The volume and price/mix performance is a reflection of the decline in worldwide print demand, which reduced demand for pre-press equipment,” it said.
Sales of digital printers were less hard hit, falling just 1% year-on-year. Kodak said that falling volumes of toner-based devices were offset by increases in commercial inkjet.
Kodak chief executive Antonio Perez said: “In the fourth quarter, we grew sales of commercial inkjet products, including a 33% increase in sales of our VL2000 printing system and enjoyed continued strong customer orders for our Prosper product line.”
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