Kodak 2007 Annual Report Download - page 43

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For the Year Ended December 31,
(in millions, except per share data) 2007 2006 2005
Net sales $ 10,301 $ 10,568 $ 11,395
Cost of goods sold 7,785 8,159 8,864
Gross profit 2,516 2,409 2,531
Selling, general and administrative expenses 1,764 1,950 2,240
Research and development costs 535 578 739
Restructuring costs and other 543 416 665
Other operating (income) expenses, net (96) (59) (40)
Loss from continuing operations before interest, other income (charges),
net and income taxes (230) (476) (1,073)
Interest expense 113 172 139
Other income (charges), net 87 65 4
Loss from continuing operations before income taxes (256) (583) (1,208)
(Benefit) provision for income taxes (51) 221 449
Loss from continuing operations (205) (804) (1,657)
Earnings from discontinued operations, net of income taxes 881 203 451
Loss from cumulative effect of accounting change, net of income taxes — — (55)
Net Earnings (Loss) $ 676 $ (601) $ (1,261)
Basic and diluted net (loss) earnings per share:
Continuing operations $ (0.71) $ (2.80) $ (5.76)
Discontinued operations 3.06 0.71 1.57
Cumulative effect of accounting change — — (0.19)
Total $ 2.35 $ (2.09) $ (4.38)
Cash dividends per share 0.50 0.50 0.50
The accompanying notes are an integral part of these consolidated financial statements.
n Eastman Ko dak Company
Consolidated Stat ement of Ope ratio ns