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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.

 

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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 SOURCES:Electronista.com

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