Kodak Restates Profit for 2003 and 2004

Eastman Kodak Co. restated its profit lower for the last two years because of errors in accounting for income taxes, pensions and retirement benefits.

Net income for 2004 was reduced by 14% to $556 million, or $1.94 a share, Rochester, N.Y.-based Kodak said. It cut net income for 2003 by 4.5% to $253 million, or 88 cents.