WXXI: Kodak Reports Loss for 3rd Quarter (2009-10-29)

Eastman Kodak lost money for the fourth straight quarter.

Kodak reported third quarter results Thursday, putting its losses at $111 million.

Analyst TC Lewis, who's with Canandaigua National Bank and Trust, says the quarter was weak for the photographic sector, but it was especially bad for Kodak. Wall Street analysts expected Kodak to report a loss of 19 cents-a-share. Instead, the loss came in at 41 cents.

Lewis says the only good news for Kodak was its sales of ink jet pinters and ink. He calls that sector the company's prime source of growth.

Lewis says the fourth quarter, which includes the Christmas shopping season, is the most important one for Kodak.

Sales for the quarter dropped 26 percent. However, revenue from the company's inkjet printers and ink was up 128 percent.