ROCHESTER, N.Y. (
posted a wider second-quarter loss and a decline in revenue as it struggled to gain momentum in its digital camera and printing businesses.
Kodak said early Tuesday it lost $179 million, or 67 cents a share, in the recent quarter, compared with a year-earlier loss of $167 million, or 62 cents, a share. That's steeper than the loss of $154.8 million, or 61 cents a share, analysts had expected Kodak to book.
Revenue fell 4.5% to $1.49 billion from $1.56 billion, also missing analysts' expectations which had been for Kodak to post sales of $1.54 billion.
Kodak maintained its full-year outlook for revenue between $6.4 billion and $6.7 billion, higher than the $6.39 billion analysts expected.
Kodak now expects a 2011 loss from continuing operations in the range of $200 million to $400 million, compared with its previous target for a loss in the range of $100 million to $300 million. Analysts called for a full-year loss of $558.8 million.
Shares of Kodak shed 8.2% in premarket trading Tuesday after closing lower at $2.33 in Monday's session.
Written by Miriam Marcus Reimer in New York.
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