Kodak Reports Revenue Decline for Quarter, Digital Profits Improve

On the basis of U.S. generally accepted accounting principles (GAAP), the company reported a second-quarter loss from continuing operations of $167 million, or $0.62 per share, compared with a loss from continuing operations on the same basis of $191 million, or $0.71 per share, in the year-ago period. Items of net expense that impacted comparability in the second quarter of 2010 totaled $31 million after tax, or $0.11 per share, primarily due to legal contingencies and restructuring charges. Items of net expense that impacted comparability in the second quarter of 2009 totaled $75 million after tax, or $0.28 per share, due primarily to restructuring charges and tax related items. (Please refer to the attached Items of Comparability table for more information.)