The earnings increase was primarily driven by operational improvements across all product lines, increased demand for digital plates and enterprise workflow products, and lower raw material costs, the company reports.

Overall, Kodak’s fourth-quarter sales were US$2.582bn, an increase of 45 per cent from the third quarter of 2009 and a six per cent increase from the year-ago quarter, including four per cent of favourable foreign exchange impact.

Antonio Perez, chairman and CEO of the Eastman Kodak Company says, “Despite a difficult economic environment, we delivered in 2009. Our momentum is returning and our strategy is paying off.”

He continues, “During 2009, we generated significant traction with our key digital businesses, we achieved sustainable operational improvements across the company, our earnings improved substantially, and we ended the year with more than US$2bn in cash on our balance sheet.”

The company also reports that revenue from digital businesses totalled US$1.991bn, a 12 per cent increase from US$1.779bn in the prior-year quarter, resulting from the combination of an increase in non- recurring intellectual property licensing revenue and increased demand for consumer inkjet printer systems, kiosk media and digital plates.

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