Kodak’s Film Business Grew 21% Year-Over-Year
Kodak released its Q3 revenue report yesterday, and while the company is reporting a year-over-year loss of $5 million on total revenues of $315 million, there’s a very interesting bright spot in the finances that brings good news for film shooters: revenues for Kodak’s film business grew by 21 percent year-over-year for Q1 through Q3.
Naturally, the “film business” noted here include the motion film stocks like Kodak VISION3 250D and others as well as the still photographic products sold by Kodak Alaris but the message is clear: the resurgence of traditional film products for both still and motion photography is growing and based on these results, it seems to be growing at a faster rate than previously thought.
“The Company will continue to concentrate on delivering industry-leading solutions to customers in our core print and film businesses,” said Jim Continenza, Kodak’s Executive Chairman. “Looking ahead to 2020, we will focus on generating cash by growing profitable revenue, making smart investments and eliminating unnecessary spending.”
The initial response from the film photography community has been to suggest the “extra money” can be used to “make more film” and to ask when the medium format version of the new EKTACHROME E100 will be on the streets.
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“We have strengthened our financial position by eliminating significant interest costs with the transactions completed earlier in the year,” said David Bullwinkle, Kodak’s CFO. “For the year to date we have delivered growth in SONORA Process Free Plates, PROSPER Inkjet annuities and our film business. We plan to build on those successes and drive further cost efficiencies to help achieve our goal of generating cash.”
More info on Kodak’s website.
