Eastman Kodak is finally starting to see some return on its massive efforts to reinvent itself as a digital photography firm. Criticised for its tardy switch away being a traditional film maker and developer, Kodak has reported a loss for the last eight quarters, but between July and September it narrowed that loss to 29 million euros. That compares with a loss of 715 million euros last year.
For the first time quarterly digital earnings growth exceeded the quarterly decline in film sales. The company has said it expects to lose between 390 million and 665 million euros this year, but much of that money going on restructuring particularly slashing the number of employees.