Eastman Kodak is reporting a net loss of $18 million for its first quarter. But that’s an improvement compared to the loss of $25 million a year ago.
Revenues for the first quarter of $291 million were lower than the $318 million of a year ago.
The company says it saw strong year-over-year growth in some key product lines including Kodak SONORA Process Free Plates.
Kodak’s Executive Chairman, Jim Continenza, says that the recent sale of the Flexographic Packaging Division helped strengthen the company’s financial position since it used the proceeds to pay down debt.
Continenza says Kodak’s focus has shifted to completing the refinancing of the remaining debt and realigning the business “to better serve customers and achieve our goal of generating cash.”
Kodak expects to secure new financing for its remaining term debt by the end of May.