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Kodak Financial Report August 2019
Old 08-09-2019   #1
Bill Clark
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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
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Old 08-09-2019   #2
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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?
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Old 08-09-2019   #3
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Couple hundred million profit? Looks good to me.
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Old 08-09-2019   #4
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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
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Old 08-13-2019   #5
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Originally Posted by Rob-F View Post
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.
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Old 08-13-2019   #6
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I won't be buying stock but I will be buying a few thousand feet of Kodak film this year.
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Old 08-13-2019   #7
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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
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Old 08-13-2019   #8
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I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.
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Old 08-13-2019   #9
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Quote:
Originally Posted by Ted Striker View Post
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.
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Old 08-14-2019   #10
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Quote:
Originally Posted by Huss View Post
I just bought 30,000 rolls of ProImage and Portra so I'm ok for a while.
Wait... 30,000 rolls?!?!
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Old 08-14-2019   #11
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Quote:
Originally Posted by brbo View Post
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.
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Old 08-14-2019   #12
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Quote:
Originally Posted by Huss View Post
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?
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Old 08-14-2019   #13
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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
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Old 08-14-2019   #14
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Wait... 30,000 rolls?!?!
30.000 rolls.


Gotta stop mixing up "," with "."

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Old 08-14-2019   #15
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Quote:
Originally Posted by Huss View Post
30.000 rolls.

Thirty point zero zero zero. That's some precision! To the thousandth of a roll!
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Old 08-14-2019   #16
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Quote:
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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.
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Old 08-14-2019   #17
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I want to see that freezer.
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Old 08-14-2019   #18
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I was more thinking “Damn Huss must be a retired millionare”!
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Old 08-14-2019   #19
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30,000 rolls would keep a lot of bodies hidden
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Old 08-14-2019   #20
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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.
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Old 08-14-2019   #21
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Thirty point zero zero zero. That's some precision! To the thousandth of a roll!
You should see the way I meter a scene!
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Old 08-14-2019   #22
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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.
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Old 08-14-2019   #23
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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 (;-<
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Old 08-14-2019   #24
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Originally Posted by BillBingham2 View Post
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.
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Old 08-14-2019   #25
Erik van Straten
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Quote:
Originally Posted by Huss View Post
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.
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Old 08-14-2019   #26
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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.
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Old 08-14-2019   #27
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Quote:
Originally Posted by Huss View Post
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.
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Old 08-14-2019   #28
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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!
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Old 08-14-2019   #29
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Quote:
Originally Posted by Erik van Straten View Post
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?
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Old 08-14-2019   #30
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Quote:
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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
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Old 08-14-2019   #31
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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.
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Old 08-14-2019   #32
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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.
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Old 08-14-2019   #33
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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..
And much better than using masking tape and a pen. As well, that's just ugly and what is this, 1974?
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Old 08-15-2019   #34
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Quote:
Originally Posted by kiemchacsu View Post
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.
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Old 08-15-2019   #35
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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.."
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Old 08-15-2019   #36
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Quote:
Originally Posted by leicapixie View Post
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!
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Old 08-15-2019   #37
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Quote:
Originally Posted by Huss View Post
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.
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Old 08-15-2019   #38
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Hi Ted, let's abandon the gloom and doom and show us some of your Asian 120mm pics.
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Old 08-15-2019   #39
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Originally Posted by Out to Lunch View Post
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.
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Old 08-15-2019   #40
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...sigh...
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