Kodak is under increasing pressure to sell its high-prized patents following last week’s announcement of third quarter losses amounting to US$222 million.
While the result reflected lower digital camera and film sales, the company was more upbeat about its revamped inkjet business, which is finally on the verge of turning a profit.
Home photo printers, high-speed commercial inkjet presses, workflow software and packaging are viewed as Kodak's new core business.
Revenue from those businesses rose by a combined 13% in the quarter, aided by an 89%t growth in packaging solutions and 44% growth in home printers and ink.
Kodak said it expects the consumer printer division to become profitable in the current quarter.
Revenue dipped 17% to US$1.46 billion from US$1.76 billion a year ago, with shrinking film group sales falling 10% to US$389 million.
Consumer digital-imaging sales fell 38% to US$408 million as Kodak shifted to pricier camera models to try to offset intense competition from smartphones and video cameras.
The company said it posted modest patent royalties in the quarter but didn't specify how much.
Since July, Kodak has been hawking a portfolio of more than 1000 digital-imaging patents that many analysts think could fetch US$2 billion to US$3 billion.
Kodak’s workforce has dropped from 72,000 in 2002 to just under 19,000.
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