Core Viewpoint - Kodak, a 133-year-old imaging giant, has warned investors that it may not be able to sustain operations long-term, leading to a significant drop in its stock price by nearly 26% on the news [1]. Financial Performance - In the second quarter, Kodak reported revenue of $263 million, a slight decline of 1% year-over-year from $267 million [4]. - The company's gross profit was $51 million, down 12% compared to the previous year [4]. - Kodak experienced a net loss of $26 million in the second quarter, contrasting with a net income of $26 million in the same period last year [4]. - The company reported a loss of $0.36 per share, compared to a profit of $0.23 per share in the previous year [4]. Debt and Financial Concerns - Kodak has approximately $500 million in debt that it cannot repay and has stated that it currently lacks viable financing channels or available liquidity to meet upcoming debt obligations [4]. - The company announced it will terminate pension payments to raise cash [4]. Historical Context and Market Position - Kodak was once a dominant player in the photography market, holding a 90% market share in film and 85% in cameras in the 1970s [6]. - The company's decline began with the rise of digital cameras and smartphones, despite having developed the first digital camera in 1975 [6]. - Kodak filed for bankruptcy protection in 2012, with total debts reaching $6.75 billion and 100,000 creditors [6]. Strategic Initiatives - In the second quarter, Kodak announced plans to expand its specialty chemicals and pharmaceutical product lines, investing "tens of millions of dollars" in new laboratories and manufacturing facilities [7]. - The CEO stated that while diversifying into new areas, Kodak will continue to maintain its traditional film business, which remains profitable despite its reduced contribution to total revenue [7].
百年国际巨头自曝:可能撑不下去了,将终止退休养老金付款
Sou Hu Cai Jing·2025-08-14 10:34