TweakTown
Tech content trusted by users in North America and around the world
5,908 Reviews & Articles | 38,046 News Posts

Kodak posts huge $1.3 billion loss for fiscal 2012

The Kodak moment has passed, posts $1.3 billion loss

| Business, Financial & Legal News | Posted: Mar 12, 2013 7:32 am

Kodak are going through some rough times, but the 2012 fiscal year has been dismal for the company. Kodak told investors in their annual report that they are looking to come out of their bankruptcy in the summer of 2013, a little earlier than expected.

 

TweakTown image news/2/9/29037_07_kodak_posts_huge_1_3_billion_loss_for_fiscal_2012.jpg

 

The company posted a large $402 million loss for the quarter gone, but an even bigger loss of $1.38 billion for the 2012 fiscal year. These losses are mounting, at nearly double the numbers from 2011. Kodak CEO, Antonio M. Perez was upbeat on the news, saying:

 

Thanks to the talent and dedication of our employees, our 2012 performance was on track or ahead of our adjusted EBITDA and cash projections, and we have remained in compliance with the covenants of our debtor-in-possession facility, laying the foundation for emergence as a profitable, sustainable company.

NEWS SOURCE
Electronista.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases