Kodak reports first-quarter income and sales

APRIL 24--Eastman Kodak Co. (Rochester, NY; www.kodak.com) reports that its first-quarter net income totaled $0.04/share and that sales rose 1%. Kodak's net income for the quarter included a loss from continuing operations of $0.01/share and earnings from discontinued operations of $0.05/share. Excluding the impact of previously announced focused cost reductions and other nonoperational items, earnings from continuing operations were $0.14/share, consistent with the company's forecast.

Highlights for the quarter included a 32% increase in sales of digital and applied-imaging products and services. Health-imaging sales were $549 million, up 5%. Earnings from operations on an operational basis for the segment were $109 million, up from $76 million in the year-ago period. Highlights included higher-than-expected sales of the newly introduced Kodak DirectView Computed Radiography long-length imaging system.