Eastman Kodak Co., which is undergoing a tough transition to digital products, posted a quarterly net loss Friday due to charges related to cost reductions, but said digital revenue jumped 23 percent.
Rochester, New York-based Kodak, the No. 1 maker of photographic film, reported a loss of $142 million, or 50 cents a share, including non-operational charges which cut profit by 53 cents a share. In last year’s first quarter the company earned $21 million, or 7 cents a share.
Kodak said its profit on an operational basis was 3 cents a share.
Sales fell to $2.83 billion, off 3 percent from $2.92 billion in the first quarter of 2004. Excluding the benefit of the weak U.S. dollar, which increases the value of overseas sales when they are converted into dollars, sales decreased 5 percent.
