ROCHESTER (AP) — The Eastman Kodak Company said Thursday it lost $111 million in the third quarter, its fourth consecutive quarterly loss, as sales fell 26 percent.
The company said the loss came to 41 cents a share and compared with a profit of $101 million, or 35 cents a share, a year earlier.
Excluding one-time items, Kodak lost $63 million, or 23 cents a share, more than the 19 cents a share forecast by analysts surveyed by Thomson Reuters.
Sales fell to $1.78 billion from $2.41 billion, missing analysts’ forecast of $1.89 billion. On a sequential basis, sales were flat.
While the July-September period illustrated the difficulties still facing Kodak, the company said it was encouraged by sales of its consumer inkjet printers as well as rising orders for commercial inkjet printers scheduled to hit the market early next year.
Note from Art: Time for one of the big boys to buy Kodaks PPG?
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