CANON ANNUAL REPORT 2021. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. The company's EPS TTM is $-0.014; its P/E ratio is -241.89; Kodak is scheduled to report earnings on March 14, 2023, and the estimated EPS forecast is . Eastman Kodak Company 2020 Annual Report on Form 10-K and Notice of 2021 Annual Meeting and Proxy Statement. 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. 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 Report on Form 10-Q for the quarter ended March 31, 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 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 impact of the global economic environment 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 or recoup associated increased costs of materials, labor, shipping and operations; 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; 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; 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 the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. 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. in 2004, which raises three caution flags: Copyright 2023 Eastman Kodak Company. COLUMBUS, Ohio (AP) Railroads like the one involved in last month's fiery crash and toxic chemical release in Ohio would be subject to a series of new federal safety regulations and financial consequences under legislation being introduced Wednesday by the state's two U.S. senators.. An early copy of the Railway Safety Act of 2023, co-sponsored by U.S. Sens. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. "Jansen's heart could be seen in his eyes, and his charm in his brilliant, engaging smile; his soul in his masterful and revealing paintings, and the joy of life in his dry wit," the . This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. The decrease is primarily attributable to increases in working capital, the impact of higher costs and increased capital investment. Kodak Reports Full-Year 2021 Financial Results, https://www.businesswire.com/news/home/20220315005996/en/, Other operating income, net, excluding income from transition services agreement, Pension income excluding service cost component, Earnings from discontinued operations, net of income taxes, Selling, general and administrative expenses, Loss from continuing operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other (income) charges, net and income taxes, Earnings (loss) from continuing operations before income taxes, Earnings (loss) from continuing operations, Property, plant and equipment, net of accumulated depreciation, Short-term borrowings and current portion of long-term debt, Pension and other postretirement liabilities. Kodak Refer to the following financial statements for Kodak: CASE 9-1 Kodak: Forecasting Pro Forma Financial Statements Required: Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. We have also officially launched two products powered by our groundbreaking ULTRASTREAM inkjet technology: the KODAK PROSPER ULTRA 520 Press, which offers offset print quality in a smaller footprint, and the first flexible package printing system, the UTECO Sapphire EVO W Press. All rights reserved. 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. Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. KODK -5.46% DJIA -0.18% Russell 2K -1.39% Consumer Goods 4.02% Overview Earnings & Estimates Eastman Kodak Co. 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. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Q3 2021 Actuals on constant currency ** vs. Q3 2020 Actuals, The Company ended the quarter with a cash balance of $380 million. Copyright 2023 Eastman Kodak Company. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. 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. 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. Copyright 2023 Eastman Kodak Company. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, . Kodak ended the year with a cash balance of $233 million, flat when compared to the December 31, 2018 cash balance. The increase is primarily attributable to net proceeds received of $247 million from the financing transactions completed in the first quarter of 2021. The capital structure is risky due to the large amounts of debt so it is good Kodak is trying to reduce it. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. 1,124 Followers. ** The impact of foreign exchange represents the 2021 foreign exchange impact 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. Kodak ended the first quarter with a cash balance of $309 million, a decrease of $53 million from December 31, 2021. Operating profit, which measures the success of a company in its normal, ongoing business operations apart from financing and investing activities and tax considerations, decreased significantly from $1,168 Mio. ROCHESTER, N.Y.-- ( BUSINESS WIRE )--Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2020, including consolidated revenues of $1 billion and an increase in. View Annual Reports. 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. Operational EBITDA for the first quarter was negative $7 million, compared to $3 million in Q1 2021. Financial Information Here you will find a summary of Eastman Kodak Company's latest financial information. 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. In this first quarter 2022 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. The impact of foreign exchange is calculated by using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Kodak (GB:0IF4) financials statements overview reports - Kodak's market cap is currently . Think of Kodak. Our quarter-end cash balance was generally in line with our expectations, said David Bullwinkle, Kodaks CFO. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. 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. CONSOLIDATED STATEMENT OF FINANCIAL POSITION ASSETS Cash and cash equivalents Trade receivables, net of allowances of $8 and $9 Inventories, net . Financial Statements: The Starting point In the Study Of accounting The principal means of reporting general-purpose financial information to persons outside a business organization is a set of accounting reports called financial statements Statements: The Starting point In the Study Of accounting For the quarter ended June 30, 2022, revenues were $321 million, an improvement of $30 million compared to the same period in 2021. Annual. On July 13, 2022, Kodak invested $25 million received from the loans to acquire a minority stake in Wildcat Discovery Technologies. The original had a four-year run from 1978 to 1982 and won two Tony Awards, including best choreography. Up to 10 years of financial statements. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. 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 performance by third parties of their obligations to supply products, components or services to. Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. Between June and July 2020, ANDREW STILES conducted an insider trading scheme in which he misappropriated material, non-public information ("MNPI") and used it to trade in the stock of the Eastman Kodak Company ("Kodak") and further provided that MNPI to his cousin, GRAY STILES, so that GRAY would likewise trade on the MNPI. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Operational EBITDA for the year ended December 31, 2021 was $11 million, compared to negative $1 million in 2020. 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. 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. Kodak continued to manage through an extremely challenging business environment to deliver revenue growth for the first quarter of 2022, said Jim Continenza, Kodaks Executive Chairman and CEO. Fourth Quarter Financial Results On February 28, 2023, Novavax, Inc. issued a press release announcing the Company's financial results for. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. it doesn't matter if you own a mac or a pcthe kodak playsport is compatible with both; the optional remote control makes it easy to comfortably enjoy your videos and pictures; mpn: zx5-white_k-2 upc: 041771491178 in the box: kodak playsport video camera; kodak lithium-ion rechargeable digital camera battery; charging cable; ac adapter . Operational EBITDA for the second quarter was $11 million, compared to $10 million in Q2 2021. Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". "In the third quarter, the Companys primary uses of cash were investments in our previously-announced growth initiatives and increasing working capital to support our existing operations," said David Bullwinkle, Kodaks CFO. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. All Rights Reserved. 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. Q2 2022 Actuals on constant currency ** vs. Q2 2021 Actuals, Consolidated revenues of $321 million, compared with $291 million for Q2 2021, GAAP net income of $20 million, compared with $16 million for Q2 2021, Operational EBITDA of $11 million, compared with $10 million for Q2 2021, A quarter-end cash balance of $289 million, compared with $362 million at the end of 2021. In July 2022, Kodak invested $25 million of the proceeds received from the delayed draw term loans to acquire the minority stake in Wildcat. Full-year 2020 highlights include: Consolidated revenues of $1 billion The high-stakes battle over President Biden's student debt relief plan reached the Supreme Court on Tuesday, with each justice giving a glimpse into their thinking during back-to-back oral . Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas.. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended September 30, 2021, rather than the actual average exchange rates in effect for the three months ended September 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of De 2019 ASSETS Cash and cash equivalents $ 233 Trade receivables, net of allowances of $8 and . Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. Kodak ended the third quarter with a cash balance of $216 million, a net decrease of $146 million from 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. 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. Sherrod Brown and JD Vance . Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. The Company had GAAP net income of $2 million for the quarter, compared to $8 million in the prior-year quarter. These documents include Eastman Kodak income statement, its balance sheet, and the statement of cash flows. 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. Operational EBITDA represents the income from continuing operations before income taxes excluding earnings from discontinued operations, net of income taxes, loss on early extinguishment of debt, 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 (income) charges, net. The following table reconciles the most directly comparable GAAP measure of Net Income (Loss) to Operational EBITDA for the twelve months ended December 31, 2021 and 2020, respectively: As reported in the Consolidated Statement of Operations. Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis) GAAP net income of $2 million, compared with $8 million for Q3. View Kodak Financial statements.xlsx from ENTR 3100 at Kwantlen Polytechnic University. Cautionary Statement Regarding Forward-Looking Statements. 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 three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. Its prospects seem reduced to suing Apple and others for infringing on patents that it was never able to turn into winning. Follow. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. 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. * Total Operational EBITDA is a non-GAAP financial measure. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Cash Flow. Performances of the newly named "Bob Fosse's 'Dancin' begin March 2 at the Music Box Theatre, with an opening night set for March 19.. To make strategic decisions focused on driving smart revenue for Kodak. `` on Form and. Company & # x27 ; s latest financial information Here you will find summary... Kodak.Com, or follow us on Twitter @ Kodak and LinkedIn prospects seem reduced to suing Apple others... Of $ 362 million kodak financial statements compared to $ 10 million in the prior-year quarter 2021. 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