Kodak Reports Larger Net Loss on Lower Revenue

The company’s worldwide cash balance was $1.13 billion at the end of the third quarter. It has submitted to the U.S. Bankruptcy Court for approval an agreement with the Official Committee of Retired Employees that will substantially reduce the company’s payments for non-pension benefits for U.S. retirees, beginning in 2013, an action that would save the company about $100 million in cash expenditures next year (prior to reduction for appropriate expenses related to the agreement).