Revenues for its health imaging division increased by 11 percent, helping Eastman Kodak Co. grow revenues in the second quarter.
Sales increased 6 percent to $3.47 billion, compared with $3.26 billion in the second quarter of 2003. The company also reported a net loss of $154 million, compared with $112 million in the year-ago quarter.
"Sales continued to increase, led by broad demand among customers and commercial customers for our digital products and services," said Kodak Chairmen and CEO Daniel Carp. "In fact, our digital revenue increased 48 percent, more than offsetting a decline of 8 percent in traditional revenue."
Kodak President and COO Antonio Perez said, "Our second-quarter results demonstrate that we are successfully accelerating our participation in digital markets. We also recognize that the trend in consumer film suggests that the volume decline will be greater than we expected at the start of the year. We now anticipate that worldwide volume industry wide will decline in the range of 10 percent to 12 percent this year, compared with the prior forecast of a decline of 7 percent to 9 percent. In the U.S., we now expect the decline to be in the range of 18 percent to 20 percent, compared with the prior forecast of a decline of 10 percent to 12 percent."