Imation purchase boosts Kodak’s sales

Eastman Kodak reported increases in fourth quarter and year-end (end-December) revenue for its Health Imaging group. For the quarter, sales were $571 million, up 29% compared with 1998’s $442 million, which Kodak attributed to its 1998 acquisition of Imation’s medical imaging business in a deal worth $520 million (SCAN 8/19/98). For the year, revenues climbed 39% to $2.1 billion from the previous year’s $1.5 billion.

The Rochester, NY-company’s Health Imaging Group also saw dramatic increases in earnings from operations, which rose 232% for the quarter from $38 million in 1998 to $126 million. For the year, the group posted operating earnings of $470 million, up 46% from 1998’s $321 million.