Kodak Tops Lowered Expectations - TheStreet

Kodak Tops Lowered Expectations

However, it fell below last year's numbers.
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Eastman Kodak

(EK)

is the very picture of diminished expectations. The company announced third-quarter earnings of $1.40 a share, beating the reduced

First Call/Thomson Financial

estimate of $1.37 a share. Kodak missed last year's quarter, however, finishing a nickel short of its $1.45 per share earnings.

On

Sep. 26, Kodak warned about the third quarter, saying that it would come in 20 to 25 cents below previous estimates. The company cited the weak euro and increased material costs as big reasons for the miss. Analysts then snipped their estimates from $1.60 a share to $1.37.

After the warning, Kodak got demolished, falling $14.50. And since then, Kodak has crumbled, hitting 52-week-lows. Tuesday, the blue chipper closed at $36.44, nearly half its 52-week-high.