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-   -   Kodak Financial Report August 2019 (http://www.rangefinderforum.com/forums/showthread.php?t=169206)

Bill Clark 08-09-2019 06:47

Kodak Financial Report August 2019
 
Information released by Kodak.

Thought it might be of interest here.

https://www.kodak.com/US/en/corp/pre...HJZLjbszj6rNWI

charjohncarter 08-09-2019 07:33

Looks like they made some money. But I can never really understand these reports. Also there isn't much on their website about film: do they make?

Rob-F 08-09-2019 07:37

Couple hundred million profit? Looks good to me.

Bill Clark 08-09-2019 08:06

Most of the profit came from the sale of a division.

Quote:

Current quarter GAAP net earnings included a gain on the sale of the Company’s Flexographic Packaging Division of $207 million

Ted Striker 08-13-2019 14:28

Quote:

Originally Posted by Rob-F (Post 2904980)
Couple hundred million profit? Looks good to me.

You need to spend more than 2 minutes reading this report. It is far from "good". As another poster mentioned, Kodak's "profit" comes from selling off its most profitable division. Kodak is now a much smaller company, left with the parts that lose money, or break even. Revenue is down and profits from the remaining divisions are down. The film division is losing money.

Reaction? The market has hammered down Kodak stock, -15% this week. While the market was soaring today, Kodak lost an additional -3.3%. For the trailing month, Kodak is down -19% in value. For the trailing year, Kodak is down -35% in value. Finally, in the last 5 years, Kodak's stock has fallen -90%.

There are a few here who will launch vicious personal attacks at me for posting these *facts*. It would be nice if instead, they replied with counter facts and entered into discussion.

I would have thought that Kodak's stock would have gone up this week as they retired a good chunk of their debt. But investors have fled the stock hard, because Kodak sold off the most profitable part of their company. The CEO has hided out the company and there is not much left to build a sustainable company out of.

Kodak's share price is a few pennies away from falling below $2/share. If you believe in Kodak, I mean *really* believe in the company, NOW is the time to buy.

Phil_F_NM 08-13-2019 15:42

I won't be buying stock but I will be buying a few thousand feet of Kodak film this year.
Phil Forrest

Steve M. 08-13-2019 19:18

As long as they still make Tri-X, that's all I care about :)

On a more serious note, as Ted alluded to, anyone who tells you that refinancing your debt will save you money, as this report so gleefully states, is either a liar or an idiot. Or both. It may have a lower interest rate, but the longer pay back will more than eat that up, along with added refinance costs and fees. This is just a way to show more money now to lure fresh investors, at the expense of having less later.

But then it's Kodak, right? Not the sharpest knives in the drawer when it comes to this stuff, or they would never have had to do what they did in the first place. Just make the film guys, and hire an outside firm to do the heavy lifting with the math.

https://smartasset.com/refinance/3-r...cost-you-money

Huss 08-13-2019 20:49

I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.

brbo 08-13-2019 22:58

Quote:

Originally Posted by Ted Striker (Post 2905785)
The film division is losing money.

There is no film division. But the division the film segment is (financially) part of is doing better than last year.

dourbalistar 08-13-2019 23:55

Quote:

Originally Posted by Huss (Post 2905817)
I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.

Wait... 30,000 rolls?!?! :eek:

Ted Striker 08-14-2019 00:14

Quote:

Originally Posted by brbo (Post 2905832)
There is no film division. But the division the film segment is (financially) part of is doing better than last year.

You are correct. That division lost only 2 million dollars last quarter compared to 5 million the prior year. My mistake. I misread the report.

valdas 08-14-2019 00:22

Quote:

Originally Posted by Huss (Post 2905817)
I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.

Yah, that’s what you call buying wholesale :) Did you also buy a temperature controlled warehouse to keep it?

Ste_S 08-14-2019 01:21

Quote:

Originally Posted by valdas (Post 2905854)
Yah, that’s what you call buying wholesale :) Did you also buy a temperature controlled warehouse to keep it?

Reminds me of Anton Corbijn when he panicked and bought all the Tri-X when Kodak were on the brink last time. His apartment was apparently taken over by freezers trying to store it all

Huss 08-14-2019 06:56

Quote:

Originally Posted by dourbalistar (Post 2905843)
Wait... 30,000 rolls?!?! :eek:

30.000 rolls.


Gotta stop mixing up "," with "."

:D

css9450 08-14-2019 07:11

Quote:

Originally Posted by Huss (Post 2905890)
30.000 rolls.


Thirty point zero zero zero. That's some precision! To the thousandth of a roll!

ptpdprinter 08-14-2019 07:13

Quote:

Originally Posted by Huss (Post 2905817)
I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.

That's a big freezer you've got there.

Out to Lunch 08-14-2019 07:59

I want to see that freezer.

taemo 08-14-2019 08:31

I was more thinking “Damn Huss must be a retired millionare”!

CharlesDAMorgan 08-14-2019 08:36

30,000 rolls would keep a lot of bodies hidden

Huss 08-14-2019 09:07

Quote:

Originally Posted by taemo (Post 2905900)
I was more thinking “Damn Huss must be a retired millionare”!

lol working on it!

There is nothing we can do to help but shoot film.
:)

Huss 08-14-2019 09:10

Quote:

Originally Posted by css9450 (Post 2905892)
Thirty point zero zero zero. That's some precision! To the thousandth of a roll!

You should see the way I meter a scene!

Ted Striker 08-14-2019 11:08

Unlike most of the market, Kodak did not bounce yesterday, instead falling -3%. Today, with the market crashing, Kodak is down another -3.5%, breaking through the $2/share support level. This key technical level has been a support line for Kodak for over a year. Now there is very heavy selling and if Kodak closes below this level, does not bode well for the rest of the year. Kodak is down -19.2% for the week so far. A crushing loss for shareholders still holding on while investors race for the exits.

BillBingham2 08-14-2019 11:29

We all may be in for a bummy descent through the clouds. Hoping we don't hit a mountain before we start gaining altitude again. I'm fearful we'll hit several in the coming year or so.

B2 (;-<

Ted Striker 08-14-2019 11:31

Quote:

Originally Posted by BillBingham2 (Post 2905922)
We all may be in for a bummy descent through the clouds. Hoping we don't hit a mountain before we start gaining altitude again. I'm fearful we'll hit several in the coming year or so.

B2 (;-<


Very true. There are dark clouds on the horizon so defensive positions are being taken. The strong will survive and eventually repair their damage. But some dont make it and with Kodak falling -20% YTD so far, it's getting harder and harder to find a successful theory on how they are going to turn that company around. Selling off their most profitable division has clearly spooked investors.


On another note: Fujifilm is having a horrific month too, down -13.7% the past month. Their last earnings report was a bloodbath. While still profitable, net income was massively down. Again, investors fled for the exit and hammered down the stock.

Erik van Straten 08-14-2019 11:46

Quote:

Originally Posted by Huss (Post 2905817)
I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.


Since 1971 I shot 1.096 rolls of film, TriX, Tmax400 and 400-2TMY.

Just to compare.

Erik.

Huss 08-14-2019 13:14

Quote:

Originally Posted by Erik van Straten (Post 2905924)
Since 1971 I shot 1.096 rolls of film, TriX, Tmax400 and 400-2TMY.

Just to compare.

Erik.

Checking my log on filmtrackr.com since 2014 I have shot 432 rolls of 35mm, 120 and 220.

Ted Striker 08-14-2019 14:33

Quote:

Originally Posted by Huss (Post 2905951)
Checking my log on filmtrackr.com since 2014 I have shot 432 rolls of 35mm, 120 and 220.

I used to shoot 400-500 rolls of film per year when I lived in Asia. This year so far, I have shot 4 rolls of film.

Huss 08-14-2019 15:32

Quote:

Originally Posted by Ted Striker (Post 2905970)
I used to shoot 400-500 rolls of film per year when I lived in Asia. This year so far, I have shot 4 rolls of film.

Is today January 1st?

p.s no wonder Kodak is in trouble. Get crackin man!

kiemchacsu 08-14-2019 18:32

Quote:

Originally Posted by Erik van Straten (Post 2905924)
Since 1971 I shot 1.096 rolls of film, TriX, Tmax400 and 400-2TMY.

Just to compare.

Erik.

uff Erik, that little
did you mean that from 1971 to now (2019), you've shot only 1096 rolls of film? ~ 22 rolls/ year only?

kiemchacsu 08-14-2019 19:03

Quote:

Originally Posted by Huss (Post 2905951)
Checking my log on filmtrackr.com since 2014 I have shot 432 rolls of 35mm, 120 and 220.

thanks for the link
now i am wondering if i should manually update all info of films that i have shot before, 300+ i think

hansformat 08-14-2019 19:13

I hope we don't lose TriX. It is an incredible film...my number one. I can't see how that part of the business isn't profitable...no r&d on trix...just produce it efficiently and raise the price 0.25 per year. Also use and love Ektar for color..but trix is really is another league for me...just love it.

Beemermark 08-14-2019 21:01

Quote:

Originally Posted by hansformat (Post 2906009)
I hope we don't lose TriX. It is an incredible film...my number one. I can't see how that part of the business isn't profitable...no r&d on trix...just produce it efficiently and raise the price 0.25 per year. Also use and love Ektar for color..but trix is really is another league for me...just love it.


Tri-X is my number one film but when I think of all the business constraints (re-tooling, NY business atmosphere, employees wages and taxes, etc, etc) I think Kodak and Tri-x X is a lost cause. At my age I, at best, have maybe 17 years of shooting left. Figure 40 rolls of 35mm and 20 rolls of 120 and I think I'll stock up.

Huss 08-14-2019 21:33

Quote:

Originally Posted by kiemchacsu (Post 2906005)
thanks for the link
now i am wondering if i should manually update all info of films that i have shot before, 300+ i think

www.filmtrackr.com
It's what I use to keep track of what film is in what camera, when it was loaded, any exposure comp tips etc etc.
Very helpful if you have, umm, multiple cameras like I do..:o
And much better than using masking tape and a pen. As well, that's just ugly and what is this, 1974?
:D

Erik van Straten 08-15-2019 03:28

Quote:

Originally Posted by kiemchacsu (Post 2905997)
uff Erik, that little
did you mean that from 1971 to now (2019), you've shot only 1096 rolls of film? ~ 22 rolls/ year only?


Yes, I can't help it. In some years I've shot more than in others.


Erik.

leicapixie 08-15-2019 03:39

A Financial report is created for Tax Purposes..
The worse it can be made, the less taxes..
A Company that invented so much including Digital goes bankrupt ?
The real fact getting rid of the pensions weighed in favor of creative losses..
"A financial report is like a girl wearing the briefest micro bikini, no matter how small,
still covers the most important assets.."

Ted Striker 08-15-2019 05:44

Quote:

Originally Posted by leicapixie (Post 2906041)
A Financial report is created for Tax Purposes..
The worse it can be made, the less taxes..
A Company that invented so much including Digital goes bankrupt ?
The real fact getting rid of the pensions weighed in favor of creative losses..
"A financial report is like a girl wearing the briefest micro bikini, no matter how small,
still covers the most important assets.."


Kodak has already gone bankrupt once. Today's first trade with Kodak shows the losses are not yet over, now down -2%. Weekly losses now exceed -22%. That is a massive drop in shareholder value. Heavy volume shows that investors are fleeing Kodak stock fast.



On the plus side, at least Kodak is not Briggs & Stratton. They are down -40% in early trading today!

Ted Striker 08-15-2019 05:45

Quote:

Originally Posted by Huss (Post 2905978)
Is today January 1st?

p.s no wonder Kodak is in trouble. Get crackin man!


Well, even when I do shoot film, it's not Kodak. So my lack of production isnt an influence on Kodak's fortunes.

Out to Lunch 08-15-2019 05:55

Hi Ted, let's abandon the gloom and doom and show us some of your Asian 120mm pics.

Ted Striker 08-15-2019 06:43

Quote:

Originally Posted by Out to Lunch (Post 2906066)
Hi Ted, let's abandon the gloom and doom and show us some of your Asian 120mm pics.


This thread is about Kodak's financials. If you are not interested in that, may I suggest you not read it? I am contributing to a thread started by another user.


Posting my photos from Asia does not belong in this thread.

Out to Lunch 08-15-2019 07:28

...sigh...


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