15, 2022-- Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billion and continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. On July 13, 2022, Kodak invested $25 million received from the loans to acquire a minority stake in Wildcat Discovery Technologies. in 2004, which raises three caution flags: Kodak Reports Full-Year 2021 Financial Results, https://www.businesswire.com/news/home/20220315005996/en/, Other operating income, net, excluding income from transition services agreement, Pension income excluding service cost component, Earnings from discontinued operations, net of income taxes, Selling, general and administrative expenses, Loss from continuing operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other (income) charges, net and income taxes, Earnings (loss) from continuing operations before income taxes, Earnings (loss) from continuing operations, Property, plant and equipment, net of accumulated depreciation, Short-term borrowings and current portion of long-term debt, Pension and other postretirement liabilities. ** The impact of foreign exchange represents the 2021 foreign exchange impact using average foreign exchange rates for the twelve months ended December 31, 2020, rather than the actual average exchange rates in effect for the twelve months ended December 31, 2021. View Kodak Financial statements.xlsx from ENTR 3100 at Kwantlen Polytechnic University. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Kodak ended the year with a cash balance of $362 million, an increase of $166 million from December 31, 2020. Per Share Data Eastman Kodak Co. All values updated annually at fiscal year end. In July 2022, Kodak invested $25 million of the proceeds received from the delayed draw term loans to acquire the minority stake in Wildcat. The decrease is primarily attributable to increases in working capital, the impact of higher costs, increased capital investment and the investment in Wildcat Discovery Technologies, partially offset by proceeds received under the Term Loan Credit Agreement. The Company had a GAAP net loss of $3 million for the quarter, compared to net income of $6 million in the prior-year quarter. Looking forward, well continue to execute our go-to-market strategy focused on driving profitable revenue and growth.. Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings Business, Risk Factors, Legal Proceedings and/or Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. Adjustments to reconcile to net cash used in operating activities: Change in fair value of Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation reserves, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash (used in) provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net (decrease) increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Operating profit, which measures the success of a company in its normal, ongoing business operations apart from financing and investing activities and tax considerations, decreased significantly from $1,168 Mio. Balance Sheet. Operational EBITDA represents the income from continuing operations excluding the provision for income taxes; non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other charges, net. CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of De 2019 ASSETS Cash and cash equivalents $ 233 Trade receivables, net of allowances of $8 and . * Total Operational EBITDA is a non-GAAP financial measure. Financial Overview ; Income Statements . Eastman Business Park segment is not a reportable segment and is excluded from the table above. Leadership Careers Diversity & Inclusion Social Responsibility Financials Environment, Health and Safety Locations Contact Us Copyright 2023 Eastman Kodak Company. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20220510006135/en/, Media Contact: Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodaks Annual Report on Form 10-K for the year ended December 31, 2021 under the headings "Business," "Risk Factors," "Legal Proceedings," and/or "Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity and Capital Resources," in the corresponding sections of Kodaks Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, and in other filings Kodak makes with the U.S. Securities and Exchange Commission from time to time, as well as the following: Kodaks ability to improve and sustain its operating structure, cash flow, profitability and other financial results; Kodaks ability to achieve strategic objectives, cash forecasts, financial projections, and projected growth; Kodaks ability to achieve the financial and operational results contained in its business plans; Kodaks ability to comply with the covenants in its various credit facilities; Kodaks ability to fund continued investments, capital needs and restructuring payments and service its debt and Series B Preferred Stock and Series C Preferred Stock; the impact of the global economic environment, including inflationary pressures, or medical epidemics such as the COVID-19 pandemic, including the restrictions and other actions taken in response to the COVID-19 pandemic, and Kodaks ability to effectively mitigate associated increased costs of materials, labor, shipping and operations, and fluctuations in demand; the performance by third parties of their obligations to supply products, components or services to Kodak and Kodaks ability to address supply chain disruptions and continue to obtain raw materials and components available from single or limited sources of supply, which may be adversely affected by the COVID-19 pandemic; the impacts of the war in Ukraine and the international response thereto on Kodaks business and operations, including the cost of and availability of aluminum and other raw materials and components, shipping costs, transit times and energy costs; changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional or alternate financing if and as needed, Kodaks continued ability to manage world-wide cash through inter-company loans, distributions and other mechanisms, and Kodak's ability to provide or facilitate financing for its customers; the impact of the investigations, litigation and claims arising out of the circumstances surrounding the announcement on July 28, 2020, by the U.S. International Development Finance Corporation of the signing of a nonbinding letter of interest to provide a subsidiary of Kodak with a potential loan to support the launch of an initiative for the manufacture of pharmaceutical ingredients for essential generic drugs; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Kodaks ability to effect strategic transactions, such as investments, acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and the potential impact of force majeure events, cyber-attacks or other data security incidents that could disrupt or otherwise harm Kodaks operations. Second-quarter 2022 highlights include: Consolidated revenues of $321 million, compared with $291 million for Q2 2021 Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". The ex-husband and former in-laws of a slain Hong Kong model and influencer have appeared in court on a joint murder charge after police found her body parts in a refrigerator in a rural house . Changes in foreign currency exchange rates, commodity prices, interest rates and tariff rates; Kodaks ability to effectively anticipate technology and industry trends and develop and market new products, solutions and technologies, including products based on its technology and expertise that relate to industries in which it does not currently conduct material business; Kodaks ability to effectively compete with large, well-financed industry participants; Continued sufficient availability of borrowings and letters of credit under Kodaks asset based credit facility and letter of credit facility, Kodaks ability to obtain additional financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; Kodaks ability to effect strategic transactions, such as acquisitions, strategic alliances, divestitures and similar transactions, or to achieve the benefits sought to be achieved from such strategic transactions; and. The notes accompanying the financial statements contained in the Companys first quarter 2022 Form 10-Q are an integral part of these consolidated financial statements. We have also officially launched two products powered by our groundbreaking ULTRASTREAM inkjet technology: the KODAK PROSPER ULTRA 520 Press, which offers offset print quality in a smaller footprint, and the first flexible package printing system, the UTECO Sapphire EVO W Press. it doesn't matter if you own a mac or a pcthe kodak playsport is compatible with both; the optional remote control makes it easy to comfortably enjoy your videos and pictures; mpn: zx5-white_k-2 upc: 041771491178 in the box: kodak playsport video camera; kodak lithium-ion rechargeable digital camera battery; charging cable; ac adapter . Discovery Company profile page for Trade-Van Information Services Co. including technical research,competitor monitor,market trends,company profile& stock symbol About Eastman Kodak Financial Statements There are typically three primary documents that fall into the category of financial statements. Financial Statements Afaga Palasi May 17 2015 Principals of Accounting I Donna Adams Financial statement is a more of a common term used to refer to procedures at the end of the accounting periods; such as the income statement balance sheet cash flow statement and the statement of owner's equity. View the latest KODK financial statements, income statements and financial ratios. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020 GAAP net income of $24 million, compared with a net loss of $541 million for 2020 Operational EBITDA of. EX-101.SCH - XBRL TAXONOMY EXTENSION SCHEMA: 10-K: Mar 16, 2021: View HTML . 1,124 Followers. The prior year included a charge of $416 million to reflect the increased value of the derivative liability embedded in the convertible notes immediately prior to conversion and expense of $167 million related to the increase in deferred tax valuation allowances for locations outside the U.S. All financial ratios remain at 20x6 levels. Adjustments to reconcile to net cash used in operating activities: Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation and postemployment reserves, (Benefit) provision for deferred income taxes, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from return on equity investment, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Kodak continued to navigate through an unusually challenging business environment in 2021 and delivered revenue growth in all our segments for the first time in years, said Jim Continenza, Kodaks Executive Chairman and CEO. Kodaks segment measure of profit and loss is an adjusted earnings before interest, taxes, depreciation and amortization (Operational EBITDA). Financial Statements: The Starting point In the Study Of accounting The principal means of reporting general-purpose financial information to persons outside a business organization is a set of accounting reports called financial statements Statements: The Starting point In the Study Of accounting ROCHESTER, N.Y.-- ( BUSINESS WIRE )--Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2021, including consolidated revenues of $265 million and an. ROCHESTER, N.Y. -- (BUSINESS WIRE)--Mar. We will continue to execute on our long-term plan focusing on our core businesses and investing in future growth., Revenue and Operational EBITDA by Reportable Segment Q3 2021 vs. Q3 2020. The notes accompanying the financial statements contained in the Companys Annual Report on Form 10-K for the year ended December 31, 2021 are an integral part of these consolidated financial statements. For the quarter ended September 30, 2022, revenues were $289 million, an improvement of $2 million compared to the same period in 2021. Eastman Kodak Company today reported financial results for the third quarter 2020, including consolidated revenues of $252 million and a $13 million increase in cash. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Future events or results may differ from those anticipated or expressed in the forward-looking statements. All forward-looking statements attributable to Kodak or persons acting on its behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included or referenced in this press release. The increase is primarily attributable to net proceeds received of $247 million from the financing transactions completed in the first quarter of 2021. "In the third quarter, the Companys primary uses of cash were investments in our previously-announced growth initiatives and increasing working capital to support our existing operations," said David Bullwinkle, Kodaks CFO. Portfolio. Eastman Kodak financial statements provide useful quarterly and yearly information to potential Eastman Kodak Co investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Operational EBITDA for the year ended December 31, 2021 was $11 million, compared to negative $1 million in 2020. Operational EBITDA for the quarter was $6 million compared to negative $1 million in the prior-year quarter. Operational EBITDA represents the income from continuing operations before income taxes excluding earnings from discontinued operations, net of income taxes, loss on early extinguishment of debt, non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other (income) charges, net. Sherrod Brown and JD Vance . Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. ROCHESTER, N.Y.- (BUSINESS WIRE)-Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks expectations and various assumptions. The current year Operational EBITDA results did not benefit from $25 million in savings from temporary pay cuts and furloughs that largely ended in January 2021. With 31,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Copyright 2023 Eastman Kodak Company. Forward-looking statements include statements concerning Kodaks plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. However, the income from the transition services agreement was included in the segment measure. Cash Flow Statement. The increase was primarily the result of improvement in revenue and manufacturing costs from increases in volume partially offset by ongoing global cost increases in 2021. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Future events and other factors may cause Kodaks actual results to differ materially from the forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005996/en/, Media Contact: Kurt Jaeckel, Kodak, +1 585-490-8646, kurt.jaeckel@kodak.com, Investor Contact: Paul Dils, Kodak, +1 585-724-4053, shareholderservices@kodak.com. Cautionary Statement Regarding Forward-Looking Statements. We continue to execute on our plan by driving increases in cost efficiency through automation and process innovation and redesign., Revenue and Operational EBITDA by Reportable Segment FY 2021 vs. FY 2020. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. View Annual Reports. Consists of third-party costs such as security, maintenance, and utilities required to maintain land and buildings in certain locations not used in any Kodak operations and the costs, net of any rental income received, of underutilized portions of certain properties. Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Unaudited) (in millions) March 31, December 31, 2021 2020 ASSETS Cash and cash equivalents $ 196401 $ Trade receivables, net of allowances of $9 and $10, respectively 165 177 . Copyright 2023 Eastman Kodak Company. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. There may be other factors that may cause Kodaks actual results to differ materially from the forward-looking statements. The objective of Financial Statement and Ratio Analysis for MBAs is to provide you with the knowledge and skills necessary to analyze, interpret, understand, and use financial information to make informed decisions. Q3 2022 Actuals on constant currency ** vs. Q3 2021 Actuals, Consolidated revenues of $289 million, compared with $287 million for Q3 2021 (increased $24 million on a constant currency basis), GAAP net income of $2 million, compared with $8 million for Q3 2021, Operational EBITDA of $7 million, compared with $6 million for Q3 2021, A quarter-end cash balance of $216 million, compared with $362 million at the end of 2021, Q3 performance of key products compared with Q3 2021: SONORA Process Free Plates volume declined 10%, PROSPER inkjet annuities revenue declined 11% (increased 1% on a constant currency basis). Cautionary Statement Regarding Forward-Looking Statements. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 . A Florida judge ordered rapper Kodak Black to drug rehab for 30 days on Tuesday after he allegedly tested positive for fentanyl while awaiting trial on a drug trafficking charge. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. Operational EBITDA for the second quarter was $11 million, compared to $10 million in Q2 2021. ROCHESTER, N.Y.--(BUSINESS WIRE)--Mar. Discovery Company profile page for Advanced Medical Technologies AG including technical research,competitor monitor,market trends,company profile& stock symbol For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. The increase was primarily the result of improvement in revenue and manufacturing costs from increases in volume partially offset by ongoing global cost increases in 2021. When used in this press release, the words estimates, expects, anticipates, projects, plans, intends, believes, predicts, forecasts, strategy, continues, goals, targets or future or conditional verbs, such as will, should, could, or may, and similar words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Kodak (GB:0IF4) financials statements overview reports - Kodak's market cap is currently . COLUMBUS, Ohio (AP) Railroads like the one involved in last month's fiery crash and toxic chemical release in Ohio would be subject to a series of new federal safety regulations and financial consequences under legislation being introduced Wednesday by the state's two U.S. senators.. An early copy of the Railway Safety Act of 2023, co-sponsored by U.S. Sens. The use of cash in the second quarter primarily reflects higher inventory levels which strengthen our ability to serve our customers and support increased revenues. For the quarter ended September 30, 2021, revenues were $287 million, an improvement of $35 million compared to the prior-year quarter. The decrease is primarily attributable to the impact of higher costs, changes in working capital and increased capital investment. All rights reserved. Think of Kodak. We continue to execute on our plan by driving increases in cost efficiency through automation and process innovation and redesign., Revenue and Operational EBITDA by Reportable Segment FY 2021 vs. FY 2020. INTRODUCCION La Eastman Kodak Company, popularmente conocida como Kodak, fue fundada en 1888. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended June 30, 2021, rather than the actual average exchange rates in effect for the three months ended June 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. * Total Operational EBITDA is a non-GAAP financial measure. ROCHESTER, N.Y.-- ( BUSINESS WIRE )--Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2020, including consolidated revenues of $1 billion and an increase in. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. Key Financial Ratios. AccountingBusinessFinancial Accounting Rapper Kodak Black will enter a drug rehabilitation facility later this month at the order of Judge Barbara Duffy of Boward Country, Florida. Kodak Refer to the following financial statements for Kodak: CASE 9-1 Kodak: Forecasting Pro Forma Financial Statements Required: Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. Our innovative, award-winning products, combined with our customer-second approach, make us the partner of choice for commercial printers worldwide. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended March 31, 2021, rather than the actual average exchange rates in effect for the three months ended March 31, 2022. The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Operational EBITDA and Operational EBITDA on a constant currency basis for the three months ended March 31, 2022 and 2021, respectively: As reported in the Consolidated Statement of Operations. * Total Operational EBITDA is a non-GAAP financial measure. We have successfully navigated supply chain issues by carrying higher-than-historical levels of inventory to maintain supply for our customers. Eastman Kodak Company (NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billion and continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. Jansen Panettiere's cause of death has been revealed one week after his sudden passing. Achieved revenues in fourth quarter 2022 of $357 million and full year 2022 of $2.0 billion; Appointed John C. Jacobs as President and Chief Executive Officer; Updated U.S. government agreement to include up to 1.5 million additional doses of Novavax's COVID-19 vaccine for delivery in 2023; Expanded Nuvaxovid label in adult booster and adolescent primary series En 1888 Kodak Co. all values updated annually at fiscal year end Mar! Responsibility Financials Environment, Health and Safety Locations Contact us Copyright 2023 Eastman Kodak Company commercial print advanced. 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