Kodak records revenue drop, but Stream press on track for launch in early 2010
Tim Sheahan, printweek.com, 05 May 2009
Kodak's Graphics Communications Group (GCG) has performed the best of all the company's divisions in the group's first-quarter results for 2009, despite drops in sales across the board.
. . .
The company as a whole recorded a $360m (£238m) loss from continuing operations. Sales for the quarter totalled $1.477bn – a 29% drop from a year ago.
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the GCG division reported sales of $603m, down 26% from the same quarter last year. The figure included a 6% impact from unfavourable foreign exchange.
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Elsewhere, the Consumer Digital Imaging Group recorded sales of $369m fared worse, with a 33% decline, while the Film, Photofinishing and Entertainment Group reported a 31% fall with sales of $503m.
If I ran the zoo, here's what I'd do:
1. Maniacally focus on getting Stream heads installed on offset web presses.
2. Separate P&L's for Print and the other stuff. Get them ready for a spin off?
3. Leverage Creo's presence in offset workflow to speed adoption of MicroZone.
4. Don't fire anyone, except maybe for Board Members that are too busy, being busy to do the jobs they are being paid to do.
5. Get someone to figure out a speedy path to monetize the 30,000,000 users at Kodak Gallery/Ofoto.
6. Cut the advertising budget by 75%. Of the 25% left, give half of it to your PR people. Incent them and measure them to manage viral marketing.
Given the fact that the last time I looked, the Market Cap was less than a billion, I'm thinking the Board Members might want to stop being busy being busy and focus on the task at hand.