Eastman Kodak Company did something in its second quarter that it hasn’t done for a while: it turned a profit.
Kodak’s financial results showed a net income of $8 million for the quarter, an improvement of $31 million over the same three months last year. Although total revenues were down by about nine percent, CEO Jeff Clarke says the company’s expenses were cut by 14 percent.
Kodak now estimates it will make $135 to $150 million by the end of this year. That will be its first annual profit since emerging from bankruptcy as a new and refocused company that services the printing industry.