Restructuring in U.S. trims Kodak sales
Eastman Kodak reporteda 3% decline in revenue last week for its Health Group, whichincludes x-ray film, electronic imaging products and SterlingWinthrop contrast agents, as well as the nonimaging Sterling pharmaceuticalbusiness. X-ray products gained in
Eastman Kodak reporteda 3% decline in revenue last week for its Health Group, whichincludes x-ray film, electronic imaging products and SterlingWinthrop contrast agents, as well as the nonimaging Sterling pharmaceuticalbusiness. X-ray products gained in volume for the period, Kodaksaid. Overall revenues at the film giant were up 1% for the firstquarter (end-March).
Kodak attributed its Health Group's weak performance to theongoing restructuring in U.S. health-care markets. Total HealthGroup revenues dropped to $1.2 billion in the first quarter of1994, from $1.25 in the same period of last year. Revenue in theinternational segment of Kodak's Health Group actually rose 5%,while U.S. revenue was down 9%.
Health Group earnings from operations rose 17% for the quarterfrom $118 million in 1993 to $138 million. This rise in operatingearnings was the lowest of Kodak's three industry segments ofImaging (general photographic), Information and Health. Kodak'stotal worldwide revenue in the first quarter was $3.6 billion.