How did Eastman Kodak
Ahem. Let's move along.
Kodak’s $2.6 billion of revenue was 6% above year-ago sales. Last year's $3.40 loss per share turned around to $1.36 of earnings per share from continuing operations. If Kodak's business is dead, the company never got the memo.
"Our momentum is returning, and our strategy is paying off," said CEO Antonio Perez. "We generated significant traction with our key digital businesses." And there's the touchstone: Digital photography may have killed Kodak's increasingly obsolete film-based business, but the company is adapting to become a force to be reckoned with in the digital age as well.
Kodak is swimming in shark-infested waters for sure, including Great Whites like Sony
Kodak has found niches to exploit in photo kiosks, inkjet printers, and professional graphics, and also sits on a valuable patent portfolio built from decades of cutting-edge research. And the company is prepared to ride out a few Category 5 storms thanks to $2 billion in cash equivalents outweighing $1.2 billion of long-term debt.
I think Kodak is going to be just fine, and the market seems to agree. Do you still think Kodak will crash and burn in 2010? Tell me off in the comment box below, then. I can take it.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. He did once own some Kodak stock, but sold it all when digital cameras came in vogue. Apple is a Motley Fool Stock Advisor pick. Try any of our Foolish newsletters today, free for 30 days. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.