Kodak Says Reorganization on Track as Net Loss Increases

On the basis of GAAP, the company reported a first-quarter net loss of $366 million vs. a net loss of $246 million from the prior-year quarter. The results reflect the improvement in segment profitability discussed below, reorganization costs associated with the Chapter 11 case, the absence of a gain from an asset sale in the prior-year quarter, and higher restructuring charges, partially offset by the tax benefit from the net impact of the Korean tax refund.