The business stories that matter, by Fortune's Colin Barr
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January 30, 2008, 7:28 am

Kodak picture brightens

A four-year-long restructuring is paying dividends at Kodak (EK). The imaging company swung to a fourth-quarter profit from continuing operations of $92 million, or 31 cents a share, from a year-ago continuing operations loss of $15 million, or a nickel a share. Revenue rose 3% from a year ago to $3.22 billion. Revenue from Kodak’s digital side - the business that Kodak has chosen to emphasize over film sales, at the cost of nearly 28,000 job cuts since 2004 - rose 15% from a year ago to $2.26 billion. Earnings in the digital business rose to $146 million from $141 million a year earlier. Kodak chief Antonio Perez cited last year’s rollout of Kodak’s standalone digital photo printer as a sign of the company’s renewed purpose. “We successfully entered the $50 billion consumer inkjet market and exceeded our first-year printer sales goal,” he said in Wednesday’s press release. “What’s more, third-party data indicates that Kodak is enjoying a 30% price premium over the industry average.” For the first time in years, the picture at Kodak actually looks pretty good.

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Colin Barr covers business and finance for Fortune.com. Previously he was an editor at TheStreet.com and author of the weekly Five Dumbest Things on Wall Street column, and an editor at Dow Jones Newswires.
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