Kodak (KODK) Reports Q1 Revenues of $265M

May 12, 2021 4:34 PM EDT

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Kodak (NYSE: KODK) reported Q1 revenue for the quarter came in at $265 million, versus $267 million reported last year.

First-quarter 2021 highlights include:

Consolidated revenues of $265 million
GAAP net income of $6 million
The Company ended the quarter with a cash balance of $401 million

“The steps we have taken in the last two years — strengthening our balance sheet, establishing a customer-first approach and continuing to invest in innovation — have created the foundation for growth,” said Jim Continenza, Kodak’s Executive Chairman and CEO. “We will continue to execute on those strategies to create long-term value for our shareholders and our employees.”

“We continued to see improved cash performance during the first quarter, including an improvement in working capital and an increase in our cash balance through several financing transactions that closed during the quarter,” said David Bullwinkle, Kodak’s CFO. “During the first quarter we returned to growth in our key product areas, including SONORA Process Free Plates volume and PROSPER annuities which were up 8 and 12 percent respectively compared with the first quarter of 2020. We will continue to evaluate strategies for investing the capital raised through financing activities to generate additional growth.”

For earnings history and earnings-related data on Kodak (KODK) click here.

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