Eastman Kodak Co posted a much bigger-than-expected quarterly loss as digital camera sales slumped and its film processing business suffered from the loss of a key customer, sending sending shares lower.
Kodak’s second-quarter loss from continuing operations narrowed to $167 million, or 62 cents a share, from $191 million, or 71 cents a share, in the year-ago period.
SmarTrend alerted subscribers to take profits in Eastman Kodak on April 30, 2010 at $6.58, since then the stock fell 25%. We are now watching for any positive developments that could result in a new uptrend signal.
The company, which has been trying for years to rebrand itself as a digital imaging powerhouse, has relied on patent revenue to offset declines in sales tied.
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