Kodak says its third quarter results for 2013 show there is light at the end of the tunnel, improving net losses from $312m in 2012 to $155m this year – excluding reorganisation items and discontinued operations as part of its chapter 11 strategy.

Antonio Perez, CEO of Kodak

The company posted a net income for Q3 of $1.99bn, saying operational EBITDA excluding accounting adjustments has improved in the third quarter by $50m from the prior Q3 and by $279 million for the first nine months versus the same period in 2012. It adds that a favourable product and price mix in its digital printing and enterprise and graphics, entertainment and commercial films segments has contributed to an eight per cent improvement in year-on-year gross profit for the quarter. Kodak currently carries a debt of $679m. It ended Q3 with $839m cash. Antonio Perez, CEO of Kodak, says, “We are pleased with our progress on earnings this quarter, with operational EBITDA on track with expectations. Further, our customers are telling us they are impressed with our technologies and are increasingly ready to adopt and apply our solutions to help grow their businesses. “Our strengths in imaging for business markets, including packaging, functional printing, graphic communications and professional services, position us well to move forward on our strategy with increasing momentum.”

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