Mad Money Spotlight: Cramer Down on Kodak

Sales plunged 29% to $1.48 billion from $2.09 billion a year ago, as consumers purchase cheaper cameras and shy away from digital picture frame purchases, a profitable item last year.

And going forward things are hardly picture perfect. Kodak is preparing for a 12% to 18% downturn in sales this year.

Kodak isn't the only camera company experiencing these steep declines. In April, Canon (CAJ Quote) said its profit tumbled 83%, dragged down by lower sales of multifunction copy machines and printers as well as a stronger yen.