KODAK PROFIT FALLS, CEO DEFENDS STRATEGY

Eastman Kodak Co. on Wednesday posted a 63 percent drop in third-quarter Earnings and defended its plan to shift away from its declining film business and into digital pictures despite an outcry from disgruntled investors.

Rochester, New York-based Kodak, the world’s top maker of photographic film, which last month announced a dramatic strategy shift toward digital printing and away from traditional film, said profit in its key photography and health imaging segments fell, despite sales gains.   color=#0000ffRead More