Eastman Kodak Co. says revenue gains in its digital portfolio helped offset declining sales of some traditional products and services, as the company maintained strong revenues in the third quarter.
Revenue climbed 1 percent to $3.364 billion, compared with $3.346 billion in the third quarter of 2003. The company also reported a net income of $479 million, compared with $122 million in the year-ago quarter.
Health Imaging sales increased 12 percent to $642 billion, compared with $117 million in the third quarter of 2003.
"Ever since we presented our digitally oriented growth strategy in September 2003, the company has met its earnings projections by managing smartly its traditional businesses," said Kodak Chairman and CEO, Daniel Carp. "Kodak's digital revenue, for example, increased 39 percent in the third quarter, essentially offsetting a decline of 13 percent in traditional revenue."