Getting your player ready...
ROCHESTER, N.Y. — Eastman Kodak said Wed nesday it is bracing for a 12 percent to 18 percent slump in sales this year and a wider- than-expected loss because of the severity of the economic downturn.
The photography-products maker will hone investment in promising digital printing businesses — consumer inkjet printers and high-speed commercial presses and software — while leaning heavily on cash generated by digital cameras, motion-picture film, retailer kiosks and other high-margin products.
“This is just a little detour that we have to take,” CEO Antonio Perez said ahead of Kodak’s annual meeting of analysts and institutional investors in New York on Wednesday. “We have the stamina to go through this.”
