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Kodak Q2 revenue up to $321m despite supply challenges

Eastman Kodak Company reported a $US30m boost in revenue of $US321 million for the second quarter 2022, with net income of $20 million, compared with $16 million for Q2 2021.

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      KODAK PROSPER 7000 Turbo Press

Kodak Jim Continenza HS fill 100x124kodak lo 5“Kodak delivered year-over-year growth in revenues and quarter-sequential growth in gross profit for the second quarter of 2022, despite ongoing inflationary and supply chain challenges,” said Jim Continenza, Kodak’s executive chairman and CEO (right). 

“We continue to invest in digital print technologies designed to help our customers mitigate cost and supply risks associated with traditional prepress. We have launched the KODAK PROSPER 7000 Turbo Press, the world’s fastest inkjet press, and the KODAK ASCEND Digital Press, the perfect solution for the growing retail/point of purchase and high-end packaging markets. 

“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. 

“In addition, we continue to make significant investments in recently announced growth initiatives in our Advanced Materials & Chemicals business, expanding our pilot coating facility and taking a minority stake in Wildcat Discovery Technologies, Inc., a private technology company that uses proprietary methods to research and develop new battery materials and is developing a breakthrough EV ‘super cell’ battery technology. Looking forward, we’ll continue to focus on driving profitable revenue by concentrating on our core businesses and helping our customers build theirs.”

Second-quarter 2022 highlights:

Consolidated revenues of $321 million, compared with $291 million for Q2 2021

GAAP net income of $20 million, compared with $16 million for Q2 2021

Operational EBITDA of $11 million, compared with $10 million for Q2 2021

A quarter-end cash balance of $289 million, compared with $362 million at the end of 2021