Kodak Spin On $1 Billion 3rd Q Loss
October 19, 2005 | In: Breaking News, Digital Cameras
I find it quite amusing when a company that lost over a billion dollars, immediately fires off a press release talking of how lucerative their business is. From this mornings article in The Inquirer:
TROUBLED firm Kodak said it turned in a $1.029 billion loss for its third quarter, of which $900 million was attributed to its re-structuring worldwide as a one time tax charge. But it was upbeat about its future prospects in the business because its revenues from digital products exceeded its traditional revenues, said CEO Antonio Perez.
And a few minutes later I stumbled across a press release on PRWeb.com that says the following:
If one photo industry expert is right, the buzz on Kodak’s new high-speed commercial print scanners will become the biggest news since the launch of digital photography. Within minutes, a shoe box full of photos will be converted from just memories into an entirely new way to share, print and archive pictures. “This is a `grandslam’ for Kodak. It will even boost employee morale throughout the company and stimulate billions of dollars in new sales from scanner hardware / software and Kodak photographic consumable purchases,” explained Mitch Goldstone, a well-known photo industry expert.
Now, is it just me, or is there something really strange here?
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