The Raise of Kodak!
Kodak Co., the photography company remaking itself in the digital age, said revenue may rise as much as 2 percent this year as sales of electronic cameras and printers compensate for a drop in film demand.
Revenue was projected to rise to $10.4 billion from $10.3 billion, the average of six analyst estimates in a Bloomberg survey, after a 22 percent drop in 2007. Digital camera and printer sales will increase as much as 10 percent while traditional film may fall 14 percent, Rochester, New York-based Kodak said in a statement. Shares rose in New York trading.
Chief Executive Officer Antonio Perez said today he will bring out 50 percent more digital products than last year. Demand for inkjet printers, one of the devices unveiled in 2007, may double to triple. Perez said he wants to convince investors that the four-year restructuring he concluded in December will create a lasting flow of revenue from accessories and supplies.
