Kodak Reports Second Quarter 2022 Financial Results

Eastman Kodak Company reported financial results for the second quarter of 2022, including consolidated revenue of $321 million and continued growth in key product KODAK SONORA Process Free Plates.

For the three months ended June 30, 2022, revenue was $321 million, an improvement of $30 million from the same period in 2021. The company reported GAAP net income of $20 million for the quarter, compared to $16 million in the prior year quarter. . Second quarter operating EBITDA was $11 million, compared to $10 million in the second quarter of 2021.

“Kodak delivered year-over-year revenue growth and quarterly gross margin growth in the second quarter of 2022, despite continued inflation and supply chain challenges,” said Jim Continenza, Executive Chairman and CEO of Kodak.

“We continue to invest in digital printing technologies designed to help our customers reduce the costs and supply risks associated with traditional prepress,” added Continenza. “We launched the KODAK PROSPER 7000 Turbo Press, the world’s fastest inkjet press, and the KODAK ASCEND Digital Press, the ideal solution for growing retail/point-of-sale markets. and premium packaging.

“We also officially launched two products powered by our revolutionary ULTRASTREAM inkjet technology: the KODAK PROSPER ULTRA 520 Press, which delivers offset print quality in a small footprint, and the first flexible packaging printing system , the UTECO Sapphire EVO W Press. In addition, we continue to make significant investments in recently announced growth initiatives in our Advanced Materials & Chemicals business, expanding our pilot coating facility and taking a minority stake in Wildcat. Discovery Technologies, Inc., a private technology company that uses proprietary methods to research and develop new battery materials and is developing breakthrough “super cell” battery technology for electric vehicles. “

“Key second quarter metrics, such as revenue and gross profit growth on both a year-over-year and quarter-over-quarter basis, reflect the successful execution continues our long-term strategy,” said David Bullwinkle, Kodak’s Chief Financial Officer.

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