Kodak Remains Confident for the Future

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Kodak posted a $12 million loss in the fourth quarter, mostly due to costs from job cuts.

The company still managed to beat Wall Street expectations and did very well in digital photography.

“It’s going to be another year of significant progress on becoming a digital company,” CEO Dan Carp. “Obviously, a big part of this strategy, and one that is also working very well, is staying ahead of the decline that we saw in our traditional portfolio.”

“Kodak delivered in 2004,” said Carp. “We are more confident than ever that we have the leadership, the technology and the products and services required to achieve our strategic goals.”

“The company said it discovered errors in its 2004 accounting for income taxes and was weighing the magnitude of the mistakes, which might affect after-tax income for the fourth quarter. The chief financial officer, Robert H. Brust, said he did not see evidence of accounting irregularity.”

“These are just errors, and we will get them fixed,” he said.

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Kodak Remains Confident for the Future
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