EARNINGS
Eastman Kodak Co.: For the first time, Kodak is generating more annual sales from digital imaging than from film-based photography, yet its mammoth overhaul brought more pain Monday – a fifth consecutive quarterly loss, largely because of restructuring costs. While overall earnings appeared to beat Wall Street expectations, Kodak shares fell more than 2 percent on lower-than-expected fourth- quarter profits from its fast-expanding digital business. The 125-year-old photography icon lost $52 million, or 18 cents a share, in the October-December quarter, compared with a loss of $59 million, or 20 cents a share, a year earlier.
United States Steel Corp.: The giant steelmaker posted a sharp decline in fourth-quarter profit on lower steel prices and volume. Net income slid to $109 million, or 85 cents per share, from $451 million, or $3.46 per share, in the prior-year quarter.
Tyson Foods Inc.: The world’s largest meat processor said its first-quarter earnings dropped 19 percent to $39 million, and projected its annual earnings to be sharply lower than previously forecast. Tyson earned 11 cents per share for the quarter ending Dec. 31, down from 14 cents per share from the year- ago quarter. Sales were flat at $6.5 billion.
