Picture this.

Eastman Kodak

(EK)

is joining the bandwagon of companies that are saying their earnings are being hit by higher materials costs and weak overseas currencies.

The company said this morning that its third-quarter earnings per share will be lower than expected.

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Analysts polled by

First Call/Thompson Financial

expected Kodak to earn $1.60 per share. Kodak is now saying it expects earnings to be 20 cents to 25 cents lower per share than earlier guidance.

Shares of Kodak were lately trading at $54.50 in preopen action on

Instinet

, down from yesterday's close at $59.