Friday, May 04, 2007

Eastman Kodak Continues To Dissapoint

CNBC: Eastman Kodak Loss Narrows Helped By On-Going Cost Cutting
The photographic equipment maker reported a loss of $151 million, or 53 cents a share, for the first quarter, up from a loss of $2.98 million, or $1.04 a share, in the same quarter a year ago. Revenue fell 7.5% to $2.12 billion from $2.29 billion in the year-ago period.

So far, Kodak has failed, by any metric you choose, to parlay their dominance in the film business and their branding into anything resembling success in the digital imaging realm.

Especially damning is this passage:

Looking ahead, the world's top maker of photographic film said it expects full-year revenue to be down between 4% and 7%, with digital revenue growth down between 3% and 5%.

This is the year 2007, and not only are they are still being referred to as "the world's top maker of photographic film" but their digital business is in reverse.

At this point, you have to wonder if it's too late to turn Kodak around. Since about 1980, business consultants and people who like sounding smart have made references to the demise of the Buggy Whip business at the start of the 20th century. One hundred years from now, will Kodak be the butt of cautionary tales about failing to evolve your business?

Sphere: Related Content

No comments: