Kodak Targets 2011 GAAP loss of $300M to $100M

At its annual strategy meeting today with investors, Eastman Kodak Company EK will detail plans to complete its transformation into a digital company with sustainable profits by 2012. 

For 2011, Kodak is focused on two key financial metrics:

• Continue to build the scale of its four digital growth businesses – Consumer and Commercial Inkjet, Workflow Software & Services, and Packaging Solutions – and achieve greater than 40% aggregate revenue growth from these businesses.
• Achieve positive cash generation before restructuring payments.

On a continuing operations basis, the company is also targeting the following in 2011:

• Operational earnings of negative $200 million to breakeven, on total company revenue of between $6.4 billion to $6.7 billion;
• 2011 GAAP loss from continuing operations in the range of $300 million to $100 million;
• A year-end cash balance of $1.5 billion to $1.6 billion, after taking into account all cash actions, including modest debt payments due during 2011.