Eastman Kodak Co.: The Rochester, N.Y., firm’s...
From Times Staff and Wire Reports
Eastman Kodak Co.: The Rochester, N.Y., firm’s 1989 profit amounted to $529 million, down 62% from 1988, due primarily to restructuring costs. Sales totaled a record $18.4 billion, up 8%. For the fourth quarter, the company reported a $60-million loss, contrasted with earnings of $312 million in the year-earlier period. Sales totaled $4.9 billion, an increase of 8% and another record. The photographic, chemicals and pharmaceutical concern said despite strong sales, earnings were also restrained by inflation, higher interest expenses and the unfavorable impact of exchange rate fluctuations.
