Kodak sales dip as Graphic Communications Group revenues decline

Date:2009-10-30 14:54:00

An 18% third quarter decline in revenues within Kodak's Graphic Communications Group has contributed to a Printing company -wide drop in sales to $1.78bn (£1.07bn), down 26% year on year.

The china printing manufacturer cited a "market-related decline" of 16% in its prepress solutions as well as dips in workflow for the drop in GCG sales to $674m.

Antonio Perez, chairman and chief executive of Kodak, said: "On a sequential basis, the positive trends are clear. Our sales are stabilising and some magazine Printing businesses are showing real signs of growth in the fourth quarter."

He added that its commercial inkjet PAPER BAG customer commitments for its Prosper Press Platform "continue to grow rapidly in anticipation of delivery beginning in early 2010".

Kodak said it expects its total revenue decline for the full year to all into the higher end of its 12%-18% forecast

Perez added: "We also continue to gain significant traction with our new consumer and commercial inkjet businesses, and the productivity improvements that we’ve implemented thus far are helping to drive improved cash performance.

"We believe all of these factors are sustainable and they give me increased confidence that we are on track for a much improved fourth-quarter performance and achievement of our full-year earnings and cash targets."book printing