Just goes to show you that every company does NOT stay on top forever!! Remember how huge this company was decades ago....today it struggles to hang on as technology changes, who knows if this company will be around in the next 5 years or so, maybe they will put themselves up for sale. They have a lot to do to change this company around in the near future. They are also relying on home ink jet sales to help give earnings a lift but I highly doubt that is enough to do anything for this company. Kodak 4Q profit drops 95 pct, misses expectations Kodak's profit falls 95 percent to $22 million in fourth quarter, misses expectations ap Eastman Kodak said Wednesday, Jan. 26, its fourth-quarter net income tumbled 95 percent from a large gain a year ago and it missed Wall Street expectations. Symbol Price Change EK 3.86 -0.66 Ben Dobbin, AP Business Writer, On Wednesday January 26, 2011, 8:31 am EST ROCHESTER, N.Y. (AP) -- Eastman Kodak Co. said Wednesday its fourth-quarter net income tumbled 95 percent as results were undermined by weaker camera revenue, sharply lower royalties from digital-imaging inventions and a large gain a year earlier. The photography and printing company missed Wall Street expectations, earning $22 million, or 8 cents a share, in the October-December period. That compares with a profit of $443 million, or $1.40 a share, a year earlier when results were swelled by $421 million in licensing and royalty revenue. Sales sank 25 percent to $1.93 billion. Excluding items, Kodak says it lost $99 million, or 37 cents per share. Analysts polled by FactSet expected Kodak to earn 5 cents per share on higher sales of $2.09 billion. In pre-market trading Wednesday, Kodak shares fell 2.7 percent, or 12 cents, to $4.40. Revenue from the company's digital businesses also fell 25 percent to $1.49 billion in the quarter. Industry-related pricing pressures in Kodak's digital camera and commercial prepress solutions businesses were partly offset by growth in its inkjet printer unit. Traditional film-based revenue slid 25 percent to $439 million, hit by volume declines and surging costs for silver and aluminum. The photographic film, photofinishing and entertainment film unit posted a $3 million operating loss in contrast with $53 million in operating profit a year earlier. Graphic communications sales fell 3 percent to $757 million, and operating earnings slid to $12 million from $36 million a year earlier. The 130-year-old photography pioneer is banking on replacing the hefty profits it once made from film with ink revenue from promising new lines of digital inkjet printers for both consumer and commercial markets. It expects to generate its first profits from home inkjet printers this year. Its commercial line of versatile, high-speed digital presses is targeted to turn profitable in 2012. Kodak is relying on leaner costs to see it through its transition into a digital imaging powerhouse. It has chopped almost 50,000 jobs since 2002 and its work force of 20,300 is its smallest since the 1930s. After a $3.4 billion turnaround from 2004 to 2007, its momentum was stalled by the recession.
They are probably going to go the same way polaroid did 10 years ago. that is why i do not invest in google. google could be the same in 10 years. technology marches on and one trick companies go under.