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Kodak Posts Profits

7/31/2008 02:51:00 PM Eastern

Rochester, N.Y. — Kodak reported profits of $200 million on sales of $2.5 billion for its second quarter.

Sales at the imaging firm were up 1 percent from the year-ago quarter. 

The company attributed its profit to improved returns from its digital business. Revenues from the company’s consumer and commercial digital products increased 10 percent from the year-ago quarter to $1.6 billion. Revenue from the company’s traditional business (film, photofinishing and its entertainment group) dropped 14 percent to $980 million.

Kodak’s consumer digital imaging group sales jumped 17 percent vs. the second quarter in 2007 to $756 million but the division still reported a $49 million loss, which the company attributed to its investment in its new inkjet-printer business.

Kodak’s traditional business revenue was $847 million, down 14 percent from the year-ago quarter, with earnings of $54 million (down from $121 million in Q2 2007).

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