Between June and July 2020, ANDREW STILES conducted an insider trading scheme in which he misappropriated material, non-public information ("MNPI") and used it to trade in the stock of the Eastman Kodak Company ("Kodak") and further provided that MNPI to his cousin, GRAY STILES, so that GRAY would likewise trade on the MNPI. Adjusting for the unfavorable impact of foreign exchange of $22 million in the current-year quarter, revenue increased by $24 million compared to the prior-year quarter. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. FY2021. 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. Operational EBITDA represents the income from continuing operations excluding the provision for income taxes; non-service cost components of pension and OPEB income; depreciation and amortization expense; restructuring costs and other; stock-based compensation expense; consulting and other costs; idle costs; other operating income, net; interest expense; and other charges, net. Get the latest KODK: Kodak detailed stock quotes, stock data, Real-Time ECN, charts, stats and more.. . Kodak ended the first quarter with a cash balance of $309 million, a decrease of $53 million from December 31, 2021. Copyright 2023 Eastman Kodak Company. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn. Kodak Refer to the following financial statements for Kodak: CASE 9-1 Kodak: Forecasting Pro Forma Financial Statements Required: Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. For additional information on Kodak, visit us at kodak.com, follow us on Twitter @Kodak, or like us on Facebook at Kodak. 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 words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. Up to 10 years of financial statements. 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. Financial Results Overview News / Events Company Info Stock Data SEC Filings Governance Shareholder Services 2022 Q3 2022 Quarter Ended Oct 29, 2022 Earnings Release PDF HTML Earnings Webcast Audio 10-Q PDF HTML Presentation PDF Infographic PDF Q2 2022 Quarter Ended Jul 30, 2022 Earnings Release PDF HTML Earnings Webcast Audio 10-Q PDF HTML All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks expectations and various assumptions. 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. Kodak Financial Overview. Third-quarter 2021 highlights include: Consolidated revenues of $287 million GAAP net income of $8 million Key Financial Ratios. GAAP net income was $24 million for the full year, compared to a net loss of $541 million in 2020. In addition, we continue to make significant investments in our Advanced Materials & Chemicals business, such as our minority stake in Wildcat Discovery Technologies, Inc., a private technology company that is developing a breakthrough EV and energy storage super cell battery technology. 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. Copyright 2023 Eastman Kodak Company. Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. Find the latest Financials data for Eastman Kodak Company Common New (KODK) at Nasdaq.com. Adjustments to reconcile to net cash used in operating activities: Change in fair value of Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation reserves, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash (used in) provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net (decrease) increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. The decrease is primarily attributable to increases in working capital, the impact of higher costs and increased capital investment. Per Share Data Eastman Kodak Co. All values updated annually at fiscal year end. * Total Operational EBITDA is a non-GAAP financial measure. Eastman Kodak Company (NYSE: KODK) today reported financial results for the third quarter 2021, including consolidated revenues of $287 million and continued growth in key product areas. All forward-looking statements, including managements examination of historical operating trends and data, are based upon Kodaks current expectations and assumptions. The reconciliation between GAAP and non-GAAP measures is provided in Appendix A of this press release. 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. This press release includes forward-looking statements as that term is defined under the Private Securities Litigation Reform Act of 1995. Looking forward, well continue to make strategic decisions focused on driving smart revenue for Kodak.". For the full year ended December 31, 2021, revenues were $1.150 billion, an improvement of $121 million compared to the same period in 2020. 1,124 Followers. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or those expressed in or implied by such forward-looking statements. As time goes by, it also suffers the threat from the overwhelming digital trend. 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 words and expressions, as well as statements that do not relate strictly to historical or current facts, are intended to identify forward-looking statements. ROCHESTER, N.Y. -- (BUSINESS WIRE)--Mar. Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy., Revenue and Operational EBITDA by Reportable Segment Q2 2022 vs. Q2 2021. Cautionary Statement Regarding Forward-Looking Statements. 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 Report on Form 10-Q for the quarter ended March 31, 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 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 impact of the global economic environment 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 or recoup associated increased costs of materials, labor, shipping and operations; 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; 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; 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 financing if and as needed and Kodaks ability to provide or facilitate financing for its customers; Kodaks ability to effect strategic transactions, such as 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. Q2 2022 Actuals on constant currency ** vs. Q2 2021 Actuals, Consolidated revenues of $321 million, compared with $291 million for Q2 2021, GAAP net income of $20 million, compared with $16 million for Q2 2021, Operational EBITDA of $11 million, compared with $10 million for Q2 2021, A quarter-end cash balance of $289 million, compared with $362 million at the end of 2021. View Kodak Financial statements.xlsx from ENTR 3100 at Kwantlen Polytechnic University. Adjustments to reconcile to net cash used in operating activities: Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives, Non-cash changes in workers' compensation and postemployment reserves, (Benefit) provision for deferred income taxes, Decrease in liabilities excluding borrowings and trade payables, Net proceeds from return on equity investment, Net proceeds from Term Loan Credit Agreement, Net proceeds from Series C Preferred Stock, Net cash provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. 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