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Kodak Announces 1Q Results, Stock Repurchase

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ROCHESTER, NY, April 19 -- Eastman Kodak Company has reported 1999 first quarter sales of $3.1 billion, an increase of 6% over last year. Net earnings were $191 million or $.59 per share; this represents a decrease of 14% on a per-share basis from a year ago, but an increase of 10% to $.80 per share when adjusted for charges for portfolio adjustments in 1999 and a 1998 litigation settlement. The company also announced a new stock repurchase program for up to $2 billion of the company's outstanding common stock. Eastman Kodak reduced its operating costs by approximately $80 million during...Read full article

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    Published: April 1999
    industrialNews & Features

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