By Kristin Jones
Eastman Kodak Co. (EKDKQ) said its full-year loss widened in
2012 compared with a year earlier, logging heavy restructuring
charges during a bid to reorganize.
A judge last week approved changes to the company's
bankruptcy-financing plan, giving it more flexibility of time and
money as it seeks to emerge from bankruptcy in mid-2013. Kodak
filed for Chapter 11 bankruptcy protection in January 2012.
For the full year, the company reported a net loss of $1.38
billion, compared with a loss of $764 million in 2012. The latest
year's results included $1.07 billion in reorganization and
restructuring charges, compared with $118 million a year earlier.
Revenue decreased 20% to $4.11 billion, while overhead costs fell
by $226 million.
The company ended 2012 with a cash balance of $1.14 billion.
Write to Kristin Jones at kristin.jones@dowjones.com
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