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Stock impact report

Kodak Reports First-Quarter 2020 Financial Results

Eastman Kodak Company Common New (KODK) 
US:NYSE Investor Relations: investor.kodak.com
Company Research Source: Business Wire
ROCHESTER, N.Y.--(BUSINESS WIRE)--Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2020, including consolidated revenues of $267 million.Highlights include:Consolidated revenues for Q1 2020 of $267 million.GAAP net loss of $111 million for the quarter ended March 31, 2020.Current quarter net loss includes expense of $167 million related to the increase in deferred tax valuation allowances for locations outside the U.S. and income of $53 million related to the change in fair value of embedded derivatives in the Series A Preferred Stock and Convertible Notes.Operational EBITDA for the quarter of negative $8 million.The company ended the quarter with a cash balance of $209 million.“Kodak started the quarter on a positive trajectory and the actions we took last year to strengthen our balance sheet are helping us manage through the slowdown,” said Jim Continenza, Kodak’s Executive Chairman. “Kodak employees have risen to the challenge of the pan Show less Read more
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