Eastman Kodak Reports 12% Revenue Growth In FY21

Eastman Kodak Company KODK reported consolidated FY21 revenue of $1.15 billion, an increase of 11.8% year-over-year.
Revenue by Reportable Segments: Traditional Printing $659 million (+11.3% Y/Y), Digital Printing $249 million (+3.3% Y/Y), Advanced Materials & Chemicals $212 million (+23.3% Y/Y) and Brand $15 million (+15.4% Y/Y).
The Gross margin expanded by 114 bps to 14.3%.
Eastman Kodak reported a net income of $24 million, compared to the loss of $541 million in the previous year.
Operational EBITDA for FY21 improved to $11 million, from a negative $1 million in FY20.
KODK cash used in operating activities for FY21 totaled $47 million, compared to $35 million in FY20.
Kodak ended the year with $362 million in cash, as of December 31, 2021.
Price Action: KODK shares are trading higher by 2.38% at $4.30 during the post-market session on Tuesday.

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