Kodak narrows losses in 2013
Printing expert Kodak has managed to record a significant improvement in its gross profit margin and operational EBITDA for the 12 months to December 31st 2013.
Although annual sales dropped by 14 per cent, the company managed to achieve a gross profit of $486 million (£294 million) - a massive increase from the $293 million it recorded during 2012. This gave Kodak a margin of 20.7 per cent, which nearly doubles the 10.7 per cent it managed the year before. However, there is still plenty of room for improvement for the US-based manufacturing company.
Kodak's new chief executive officer Jeff Clarke, said: "I am excited about the strong increases we are seeing in revenues from our emerging technology businesses that will create the foundation for Kodak’s future growth.
"I also believe there are significant opportunities to improve the productivity and effectiveness of our sales, manufacturing and administrative functions."
Posted by Barry Ashmore.