Kodak to Take Big 4th-Quarter Charge: Rochester,...
From Times Staff and Wire Reports
Kodak to Take Big 4th-Quarter Charge: Rochester, N.Y.-based Eastman Kodak Co. said it will take a fourth-quarter charge of $273 million, or 85 cents a share, for payments to departing employees and other cost-cutting moves. The current charge, along with previously announced writeoffs of $227 million against second-quarter earnings, will reduce Kodak’s operating profit by $500 million this year and its net profit by about $1.55 a share, the company said.
