Kodak Posts Larger 2nd-Quarter Loss on Eve of Patent Auction
Eastman Kodak Co. posted a wider second-quarter loss as it prepares for a crucial auction in which it hopes to sell more than 1,100 patents to help repay its bankruptcy creditors, Reuters reported on Friday. The Rochester, N.Y.-based company said its quarterly loss increased 67 percent to $299 million, or $1.10 per share, from $179 million, or 67 cents, a year earlier. Excluding costs related to its reorganization, the second-quarter loss totaled $139 million, Kodak said. The case is In re Eastman Kodak Co., U.S. Bankruptcy Court, Southern District of New York, No. 12-10202.