Kodak Takes Hit in Q4, Full-Year Gross Profit Improves

• Film, Photofinishing and Entertainment Group full-year 2010 sales were $1.767 billion, a 22 percent decline from the prior year. Full-year 2010 earnings from operations for the segment were $62 million, compared with $159 million in the prior year.

Fourth-quarter sales were $439 million, a 25 percent decline from the year-ago quarter. Fourth-quarter loss from operations for the segment was $3 million, compared with earnings on the same basis of $53 million in the year-ago period. This decrease in earnings was primarily driven by industry-related declines in volumes and increased raw material costs, partially offset by cost reductions across the segment.