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ROCHESTER, N.Y. (AP) - Eastman Kodak Co. posted a smaller first-quarter loss Friday — its ninth quarterly deficit in the last 2 1/2 years — as it applies the final cost-cutting touches to a drastic digital makeover. The results still missed Wall Street expectations and its shares dipped nearly 5 percent.
The photography company lost $151 million, or 53 cents a share, in the January-March period versus a loss of $298 million, or $1.04 a share, a year ago when it took hefty charges tied to its massive overhaul.
Sales fell 8 percent to $2.12 billion from $2.89 billion a year ago, hurt by Kodak's move away from lower-priced cameras in favor of marketing pricier but more profitable models.
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