In this full year 2021 financial results news release, reference is made to the following non-GAAP financial measures: Kodak believes that these non-GAAP measures represent important internal measures of performance. Eastman Kodak Company 2020 Annual Report on Form 10-K and Notice of 2021 Annual Meeting and Proxy Statement. For the quarter ended March 31, 2022, revenues were $290 million, an improvement of $25 million compared to the same period in 2021. ** 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. On June 15, 2022, Kodak exercised its right to draw down in full an additional $50 million in aggregate principal pursuant to the Term Loan Credit Agreement and received net proceeds of $49 million. Microsoft Word - Financial-Statements-Kodak-Q1-2021.docx Author: L639156 Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. We continue to invest in digital print technologies such as the KODAK PROSPER ULTRA 520 Press, which offers offset print quality and can help printers mitigate the supply and cost risks of traditional printing plates and eliminate the significant carbon footprint associated with manufacturing and distributing them. * Total Operational EBITDA is a non-GAAP financial measure. Operational EBITDA for the third quarter was $7 million, compared to $6 million in Q3 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. Kodak has been able to reduce its overall debt so that it now makes up 74.1% of total assets in 2004 instead of 78.1% as it was in 2003. Financial Information Here you will find a summary of Eastman Kodak Company's latest financial information. ROCHESTER, N.Y. -- (BUSINESS WIRE)--Mar. Income Statement. Operational EBITDA was favorably impacted by the growth in revenue due to improved pricing and volume, offset by higher ongoing global cost increases. 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. 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. Full-year 2020 highlights include: Consolidated revenues of $1 billion To determine this, the statements should reveal: (a) their cash flow potential, (b) how effective they were at raising capital, and (c) whether it painted the real economic . For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Copyright 2023 Eastman Kodak Company. "We generated positive cash flow in the fourth quarter of 2019 and had. "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. On June 15, 2022, Kodak exercised its right to draw an additional $50 million of aggregate principal in the form of delayed draw term loans under the Term Loan Credit Agreement. 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. 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. 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. 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. 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. 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. Cautionary Statement Regarding Forward-Looking Statements. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Kodak (GB:0IF4) financials statements overview reports - Kodak's market cap is currently . Financial Overview ; Income Statements . 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. Think of Kodak. The focus of this post is to ascertain whether the financial statements of the Kodak Corporation's 2007 Annual Report revealed a high level of quality financial reporting. Form Filing date View; 10-K: Mar 15, 2022: View HTML. Rapper Kodak Black will enter a drug rehabilitation facility later this month at the order of Judge Barbara Duffy of Boward Country, Florida. Eastman Kodak Company (NYSE: KODK) today reported financial results for the second quarter 2022, including consolidated revenues of $321 million and continued growth in key product KODAK SONORA Process Free Plates. All Rights Reserved. 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). Key Financial Ratios. 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. 15, 2022-- Eastman Kodak Company(NYSE: KODK) today reported financial results for the full year 2021, including consolidated revenues of $1.150 billionand continued growth in key product areas such as SONORA Process Free Plates and PROSPER annuities. ** The impact of foreign exchange represents the foreign exchange impact using average foreign exchange rates for the three months ended September 30, 2021, rather than the actual average exchange rates in effect for the three months ended September 30, 2022.Eastman Business Park segment is not a reportable segment and is excluded from the table above. Click the button, and we will write you a custom essay from scratch for only $12.00 $10.20/page 322 academic experts available Learn more. 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. Figures in the following tabs are in millions of dollars For example, $1,242 should be read as either $1,242 million, . in 2003 and to $-87 Mio. Kodak ended the first quarter with a cash balance of $309 million, a decrease of $53 million from December 31, 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 expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. The judge, who made the ruling on Tuesday, said the rapper could remain free until after his appearance at the March 7 California iteration of Rolling Loud . GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. Kodak ended the third quarter with a cash balance of $380 million, an increase of $184 million from December 31, 2020. Consolidated revenues of $1.150 billion, compared with $1.029 billion for the full year 2020. EX-101.SCH - XBRL TAXONOMY EXTENSION SCHEMA: 10-K: Mar 16, 2021: View HTML . A former Phlow Corp. executive and his cousin were charged in New York with insider trading for allegedly trading on nonpublic information about a pandemic-related government loan to Eastman Kodak Co. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million 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. My Experts Top Analysts Top Financial Bloggers Top-Performing Corporate Insiders Top Hedge Fund Managers Top Research Firms Top Individual Investors. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. Born from Kodak, one of the world's most trusted imaging brands, we're pushing the boundaries with a new vision for a new era. 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