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The Australian Financial Review reported this week the continued rise of Kodak on the back of their increased commitment to digital photography.
'Eastman Kodak Co, battling through a painful transition from film to digital photography, said on Wednesday it more than doubled its first-quarter profit and narrowly beat Wall Street forecasts.
The world's biggest film manufacturer also raised its profit guidance for all of 2004.
Helped by gains in digital products and the dollar's weakness abroad, Kodak earned $US28 million, or US10¢ a share, in the January-March period, up from $US12 million, or US4¢ a share, a year ago....
During the first quarter, sales of digital photography products jumped 44 per cent while revenue from chemical-based products fell 2 per cent.
Sales of consumer digital cameras, accessories and memory products leaped 98 per cent, revenues from photo kiosks and related products surged 55 per cent, and sales of inkjet paper and printer docks jumped 42 per cent.
But worldwide sales of traditional film products, including 35mm film, single-use cameras and batteries, fell 6 per cent in the quarter, and the number of rolls of film sold to retailers was down 10 per cent.'
Posted by Darren in our News category on April 25, 2004