P.M. BRIEFING : Kodak Posts $60-Million Loss
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ROCHESTER, N.Y. — Eastman Kodak Co. today announced a loss of $60 million in 1989’s fourth quarter, only the third time in the photographic giant’s history that it has reported red ink.
The company attributed the loss, which totaled 19 cents a share, mainly to the costs of a restructuring program begun earlier in the year. It had earnings of $312 million, or 96 cents per share, in the fourth quarter of 1988.
Sales for the fourth quarter totaled $4.89 billion, up 8% from $4.54 billion in the 1988 period.
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