Technology and gaming content trusted in North America and globally since 1999
8,611 Reviews & Articles | 60,963 News Posts

Kodak posts huge $1.3 billion loss for fiscal 2012

The Kodak moment has passed, posts $1.3 billion loss

Anthony Garreffa | Mar 12, 2013 at 2:32 am CDT (0 mins, 40 secs time to read)

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.

Kodak posts huge $1.3 billion loss for fiscal 2012 | TweakTown.com

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.

Last updated: Apr 7, 2020 at 11:33 am CDT

NEWS SOURCE:electronista.com
Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

Related Tags