The bankrupted Kodak has reported its first quarter results with total revenue were $965 million, a decline of 27 percent from Q1 2011. Kodak’s consumer branch lost $164 million in the first quarter of this year, compared to $187 million lost in the same period last year, and the commercial branch lost $64 million, about $3 million less than in Q1 2011. The company has reduced its operating costs by $84 million compared to Q1 of 2011. The company back in February announced that it will stop producing digital cameras and recently it sold out its photo-sharing service to Shutterfly as it is the only bid and had partnered with Samsung to sell consumer inkjet printers in Europe. The company reported a $366 million net loss this quarter, compared to $246 million at the same time in 2011. The company increased its liquid assets from $500 million at the end of 2011 to $1.4 billion presently. It also saw a 34 percent increase in “consumer inkjet ink revenues”.
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