EARNINGS : Kodak Gains Despite Settlement

Eastman Kodak Co. today reported improved earnings for the fourth quarter and year despite a $564-million after-tax charge for its patent violation settlement with Polaroid Corp.

The photographic company reported earnings of $326 million, or $1.01 a share, for the fourth quarter of 1990, compared to a loss of $60 million in 1989 caused by that year’s restructuring. Without the restructuring costs, profits for the quarter would have risen 24% from 1989, Kodak said.

Sales for the quarter increased 5% to a record $5.15 billion from $4.89 billion a year ago. Annual earnings were $703 million, or $2.17 per share, up 33% from 1989. Without the Polaroid charge or the restructuring costs, net earnings would have increased 18% for the year.