Eastman Kodak said today that its third-quarter earnings will come in below expectations, and will not exceed 65¢ per share, excluding restructuring and other charges. The Rochester, NY-based firm had earlier provided guidance ranging from 90¢ to $1.20 per share.
Kodak attributed the lower expectations to declining sales caused by a sluggish economy, and compounded by continued weakness in its Health Imaging business. The vendor said it is also seeing clear indications of negative effects from last week's terrorist attacks.
In the Health Imaging business, lower earnings are due to margin pressures from aggressive price competition in both digital and traditional segments, as well as shorter-term operating issues, according to Kodak. Among the bright spots, Kodak said it gained market share in x-ray film, laser printers, and computed radiography. The company will report its third-quarter results on October 24.
By AuntMinnie.com staff writersSeptember 19, 2001
Related Reading
Kodak releases new chemistry, September 18, 2001
Kodak to assist with MQSA accreditation, September 14, 2001
Kodak releases new CR software features, August 27, 2001
Kodak reveals details on full-field digital mammography system, August 1, 2001
Kodak plans a slew of product releases in Q3, July 13, 2001
Copyright © 2001 AuntMinnie.com
