kodak financial statements

Im pleased with our continued improvement in the third quarter despite challenges posed by supply chain issues, labor shortages and inflationary pressures, said Jim Continenza, Kodaks Executive Chairman and CEO. in 2004, which raises three caution flags: Revenues and Operational EBITDA on a constant currency basis. Cautionary Statement Regarding Forward-Looking Statements. ROCHESTER, N.Y.-- ( BUSINESS WIRE )--Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2021, including consolidated revenues of $265 million and an. Per Share Data Eastman Kodak Co. All values updated annually at fiscal year end. Cash Flow. All rights reserved. Operational EBITDA represents the income from continuing operations excluding the provision for income taxes; non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other charges, net. Key Financial Ratios. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Follow. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". Copyright 2023 Eastman Kodak Company. Up to 10 years of financial statements. Kodak ended the third quarter with a cash balance of $380 million, an increase of $184 million from December 31, 2020. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Eastman Business Park segment is not a reportable segment and is excluded from the table above. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020 GAAP net income of $24 million, compared with a net loss of $541 million for 2020 Operational EBITDA of. Full-year 2020 highlights include: Consolidated revenues of $1 billion We have launched the KODAK PROSPER 7000 Turbo Press, the worlds fastest inkjet press, and the KODAK ASCEND Digital Press, the perfect solution for the growing retail/point of purchase and high-end packaging markets. The use of cash in the second quarter primarily reflects higher inventory levels which strengthen our ability to serve our customers and support increased revenues. The Companys balance sheet is the strongest it has been in years due to the execution of our strategy. A Florida judge ordered rapper Kodak Black to drug rehab for 30 days on Tuesday after he allegedly tested positive for fentanyl while awaiting trial on a drug trafficking charge. The notes accompanying the financial statements contained in the Companys first quarter 2022 Form 10-Q are an integral part of these consolidated financial statements. For the quarter ended June 30, 2022, revenues were $321 million, an improvement of $30 million compared to the same period in 2021. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. We are committed to environmental stewardship and ongoing leadership in developing sustainable solutions. CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of De 2019 ASSETS Cash and cash equivalents $ 233 Trade receivables, net of allowances of $8 and . Kodak ended the first quarter with a cash balance of $309 million, a decrease of $53 million from December 31, 2021. The income was reported in Other operating income, net in the Consolidated Statement of Operations. For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. Our quarter-end cash balance was generally in line with our expectations, said David Bullwinkle, Kodaks CFO. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Revenues and Operational EBITDA on a constant currency basis. No income was recognized in the year ended December 31, 2021. We continue to execute on our plan by driving increases in cost efficiency through automation and process innovation and redesign., Revenue and Operational EBITDA by Reportable Segment FY 2021 vs. FY 2020. The prior year quarter included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion. The change in revenues and Operational EBITDA on a constant currency basis, as presented in this financial results news release, is calculated by using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. ** The impact of foreign exchange represents the 2021 foreign exchange impact using average foreign exchange rates for the three months ended September 30, 2020, rather than the actual average exchange rates in effect for the three months ended September 30, 2021.Eastman Business Park segment is not a reportable segment and is excluded from the table above. Kodak Financial Overview. Broward County Judge Barbara Duffy allowed the performer to remain free until March 7 so he could perform at the Rolling Loud concert near Los Angeles over the weekend, The Miami Herald reported. The prior year included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion and expense of $167 million related to the increase in deferred tax valuation allowances for locations outside the U.S. The company's EPS TTM is ; its P/E ratio is , and it has a dividend yield of . Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billion and continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. Rapper Kodak Black will enter a drug rehabilitation facility later this month at the order of Judge Barbara Duffy of Boward Country, Florida. The decrease is primarily attributable to increases in working capital, the impact of higher costs, increased capital investment and the investment in Wildcat Discovery Technologies, partially offset by proceeds received under the Term Loan Credit Agreement. Kodak used $15 million in cash for the quarter, primarily driven by ongoing global cost increases which we are taking actions to address. The Companys balance sheet is the strongest it has been in years due to the execution of our strategy. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. All Rights Reserved. Financial Statements Afaga Palasi May 17 2015 Principals of Accounting I Donna Adams Financial statement is a more of a common term used to refer to procedures at the end of the accounting periods; such as the income statement balance sheet cash flow statement and the statement of owner's equity. Kodak continued to navigate through an unusually challenging business environment in 2021 and delivered revenue growth in all our segments for the first time in years, said Jim Continenza, Kodaks Executive Chairman and CEO. For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. First-quarter 2022 highlights include: The Company had GAAP net income of $20 million for the quarter, compared to $16 million in the prior-year quarter. Income statements, balance sheets, cash flow statements and key ratios. Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. The focus of this post is to ascertain whether the financial statements of the Kodak Corporation's 2007 Annual Report revealed a high level of quality financial reporting. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. Adjustments to reconcile to net cash used in operating activities: Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation and postemployment reserves, (Benefit) provision for deferred income taxes, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from return on equity investment, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. ROCHESTER, N.Y.--(BUSINESS WIRE)--Mar. It is standard practice for businesses to present . The original had a four-year run from 1978 to 1982 and won two Tony Awards, including best choreography. Annual stock financials by MarketWatch. | February 28, 2023 * Total Operational EBITDA is a non-GAAP financial measure. Copyright 2023 Eastman Kodak Company. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. Second-quarter 2022 highlights include: Consolidated revenues of $321 million, compared with $291 million for Q2 2021 Kodak ended the second quarter with a cash balance of $289 million, a net decrease of $73 million from December 31, 2021. The judge, who made the ruling on Tuesday, said the rapper could remain free until after his appearance at the March 7 California iteration of Rolling Loud . The objective of Financial Statement and Ratio Analysis for MBAs is to provide you with the knowledge and skills necessary to analyze, interpret, understand, and use financial information to make informed decisions. When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Accordingly, where they are provided, it is to give investors the same financial data management uses with the belief that this information will assist the investment community in properly assessing the underlying performance of Kodak, its financial condition, results of operations and cash flow. Changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; Kodaks ability to effect strategic transactions, such as acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy., Revenue and Operational EBITDA by Reportable Segment Q2 2022 vs. Q2 2021. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. In July 2022, Kodak invested $25 million of the proceeds received from the delayed draw term loans to acquire the minority stake in Wildcat. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings "Business," "Risk Factors," "Legal Proceedings," and/or "Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources," in the corresponding sections of Kodaks Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the impact of the global economic environment, including inflationary pressures, or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate associated increased costs of materials, labor, shipping and operations, and fluctuations in demand; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional or alternate financing if and as needed, Kodaks continued ability to manage world-wide cash through inter-company loans, distributions and other mechanisms, and Kodak's ability to provide or facilitate financing for its customers; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Kodaks ability to effect strategic transactions, such as investments, acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. 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