Kodak has released the financial results of the fourth quarter and the whole year of 2016.
According to printweek.com, the revenues of Kodak have witnessed a 10% year-over-year decrease to US$1.5 billion until the end of 2016. The company’s net earnings have cut loss from US$75 million to US$16 million in comparison with 2015.
The operating expenses of Kodak in 2016 was US$212 million, adding 15% compared with 2015. Besides, the cash usage excluding net debt repayments has dropped greatly from US$162 million in 2015 to US$29 million in 2016.
In the segments of the largest division in Kodak, the revenues of Print Systems Division (PSD) has reduced US$87 million in 2016 in comparison with 2015. The company reveals that the decline is due to “worldwide competitive pricing pressures and an unfavorable economic environment in Latin America”.
In the division of Enterprise Inkjet Solutions, the company’s revenues were US$76 million in 2016, seeing a year-over-year fall of US$8 million.
For lower depreciation and amortisation expenses, the revenues of Kodak’s Prosper business in 2016 has increased to US$94 million and its net loss has decreased by US$11 million. While the sales of this business division is still under negotiation.
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