Kodak books huge losses as digital spreads

Eastman Kodak, the Rochester-based pioneering U.S. manufacturer of film and cameras struggling to keep up with digital photography, reported quarterly losses of 1 bln dollars, compared to earnings of 458 mln dollars in the third quarter last year.

The losses were based on tax write offs of 900 mln dollars prompted by the steady losses occurring as traditional photography gives way to the new structures of computer digital methods of reproduction and equipment.

Quarterly revenues were up by 5% to 3.6 bln dollars, with income from the digital branch for the first time jumping ahead of sales in the traditional branch. (dpa)