دورة المؤشرنت للتحليل الفني
50 دينار كويتي
ترايدر قال:مبروك كابتن سهيل
01-Aug-06
08:57 ET
Eastman Kodak (EK):
22.25: Eastman Kodak Co. presented a rather disappointing picture of its finances Tuesday when it told investors that it saw a loss of $0.19 per share in the second quarter, excluding multiple charges and gains. Reuters Estimates tells us the figure may not be comparable to consensus of $0.22. Revenues fell 8.8% year over year to $3.36 billion versus consensus of $3.42 billion.
Kodak, which has a market cap of about $6.39 billion, reaffirmed its 2006 cash and digital earnings goals, seeing net cash provided by operating activities of $800 million to $1 billion. The127-year-old company said it sees digital earnings from operating activities of $350 million to $400 million. Kodak says its primary focus is on cash and expanding its digital margins. On Tuesday, Kodak said it had agreed to sell its digital camera manufacturing operations to outsourcer Flextronics (FLEX).
Kodak CEO Antonio Perez noted in a press release that the company achieved positive digital earnings two quarters ahead of last year's performance, ahead of the company's own prediction that it would occur in the third quarter.
Despite becoming a major player in recent years in the digital arena, Kodak has struggled to turn a profit. During the second quarter of 2006, the company eliminated 1,630 positions, bringing the program's total to more than 20,500 job cuts. Kodak now expects to cut 25,000 to 27,000 jobs, up from a previous target of 25,000. The company expects to spend $3 billion to $3.4 billion on the cutbacks, which are to be completed by the end of next year.
Briefing.com featured Kodak in a Mid Cap column in early March and took a bearish stance on the company. High restructuring costs and declining demand for film continue to overshadow earnings prospects. Negative earnings should serve as a big red flag to any investors who are thinking about framing Kodak in their portfolio.
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دورة المؤشرنت للتحليل الفني
50 دينار كويتي