Eastman Kodak (NYSE:EK) reported Q2 loss of $0.62 per share, wider than analyst estimates of $0.61. Revenues for the quarter fell 4.5% to $1.48 billion, less than consensus estimates of $1.45 billion.
For the full year, the company continues to forecast total revenue of between $6.4 billion to $6.7 billion.
Antonio M. Perez, Chairman and Chief Executive Officer, Eastman Kodak Company said, "We are enjoying success in our new growth businesses, as well as the challenges typical in the creation of new businesses based on revolutionary new technologies. We have ambitious goals for our growth businesses, and thus far have achieved impressive results against the industry. Revenue growth in these businesses is accelerating, with second-quarter 2011 growth more than double the year-ago period. We are also on track this year to once again double ink gross profit dollars in our Consumer Inkjet business, and we're enjoying strong customer demand for KODAK PROSPER Presses."
Eastman Kodak (NYSE:EK) has a potential upside of 94.7% based on a current price of $2.38 and an average consensus analyst price target of $4.63.