Eastman Kodak Health Group of Rochester, NY, saw revenues slip and operating earnings fall in the company's second quarter (end-June 30).
For the quarter, the division's sales slipped 6% to $655 million. Earnings from operations declined to $78 million, compared with $109 million in the same quarter of 2005.
The company cited higher silver costs, higher depreciation, and costs associated with its exploration of strategic alternatives for its Health Group for the reduced earnings. The company did not provide an update on the status of the initiative.
The company said the Health Group saw revenue and earnings growth in digital capture, digital dental, and healthcare information solutions, as well as service and manufacturing productivity gains. Earnings from digital products in the Health Group were $42 million in the second quarter, compared with $53 million in the same quarter a year ago.
By AuntMinnie.com staff writers
August 2, 2006
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