November 14, 2013
Kodak's quarterly earnings, released earlier this week, show something we haven't seen in some time - a profit. You can look through this report on Kodak's earnings for the various different statistics, but it's worth noting that, not counting taxes and depreciation, Kodak's operational profits came in at $3 million, compared with a $23 million loss in 2012 (the last time Kodak reported earnings before bankruptcy).
Cause to celebrate? Maybe - first time in a long time that we've had some good news come from a Kodak earnings report. Is the company out of the woods and poised for success in the future? Only time will tell.
My point is this - Kodak's problems have been discussed and hashed over by you, me, and everybody's uncle for the past couple of years, and with good reason. The new company is a shell of its former self, but appears to be taking steps in the right direction. For today, we'll leave it at that.
P.S. - Many folks have asked about tracking Kodak's stock - you can find it trading on the New York Stock Exchange under the symbol "KODK."
Chuck Wade, Financial Advisor
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).