Archived posting to the Leica Users Group, 2005/10/19
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]http://dailynews.att.net/cgi-bin/news? e=pub&dt=051019&cat=business&st=businessd8db6tm80&src=ap http://tinyurl.com/azj6c ROCHESTER, N.Y. (AP) - Eastman Kodak Co., stung by a slide in film sales midway through its painful shift from traditional photography to digital imaging, posted a $1.03 billion loss in the third quarter largely because of one-time tax charges related to its massive restructuring. For the first time, Kodak generated more quarterly revenues from digital than from film, paper and other chemical-based products. But while overall digital sales soared 47 percent to $1.89 billion, traditional revenues slumped 20 percent to $1.66 billion. Kodak is also battling a steep drop in demand for photographic film and paper. In July, it disclosed plans to lay off 10,000 employees on top of 12,000 to 15,000 job cuts targeted in January 2004. Sales of conventional silver-halide film _ Kodak's cash cow for the last century _ look set to drop by more than 30 percent in the United States this year. Two years ago, Kodak acknowledged that its analog businesses were in irreversible decline and outlined an ambitious strategy to become a digital heavyweight in photography, medical imaging and commercial printing by 2007. The transition triggered nearly $3 billion in acquisitions but has carried a high cost. The shutdown of film and other manufacturing operations around the world looks likely to drop its global work force below 50,000, down from 75,100 in 2001 and a peak of 145,300 in 1988. feli wrote: > <http://www.forbes.com/markets/feeds/afx/2005/10/19/afx2285533.html> > > Damn it. I really like APX100... > > feli > > > > --------------------------------------------------------------------------------------- > Feli di Giorgio feli2@earthlink.net > www.elanphotos.com > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information >