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Kodak Digital Imaging Posts Lower Q4 Sales

1/26/2011 02:06:59 PM Eastern

Rochester, N.Y. - Eastman Kodak's consumer digital imaging
group reported lower sales and a loss for its fiscal fourth quarter, ended Dec.
31.

For the
fourth quarter, sales for the segment were $731 million, a decrease from $1.2
billion in the prior-year quarter.

Fourth-quarter
loss from operations was $57 million, compared with earnings on the same basis
of $380 million in the prior-year quarter. The results were primarily driven by
a nonrecurring intellectual property licensing transaction in the prior-year
quarter.

However, for the year, the group reported higher sales and
operating profits. The group's full-year
2010 sales were $2.739 billion, a 5 percent increase from the prior year.

Full-year
earnings from operations for the segment were $330 million, a $295 million
increase from the prior year.

The year-over-year
improvement was driven by intellectual property licensing transactions and
improving profitability in consumer inkjet, which doubled gross profit dollars
from ink during 2010. This was partially offset by declines in retail systems solutions.

Company-wide sales for the full year were $7.19 billion,
down 6 percent from the prior year. Kodak reported a full year loss of $58
million, compared with a loss of $232 million for the prior year.

The company's digital businesses delivered $301 million in
earnings from operations in the year, a $308 million improvement from 2009.

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