Kodak 2008 Annual Report Download - page 54
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52
Eastman Kodak Company
CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31,
(in millions, except per share data) 2008 2007 2006
Net sales $ 9,416 $ 10,301 $ 10,568
Cost of goods sold 7,247 7,757 8,122
Gross profit 2,169 2,544 2,446
Selling, general and administrative expenses 1,583 1,778 1,969
Research and development costs 501 549 596
Restructuring costs, rationalization and other 140 543 416
Other operating expenses (income), net 766 (96)(59)
Loss from continuing operations before interest expense,
other income (charges), net and income taxes (821) (230) (476)
Interest expense 108 113 172
Other income (charges), net 55 87 65
Loss from continuing operations before income taxes (874) (256) (583)
(Benefit) provision for income taxes (147)(51) 221
Loss from continuing operations (727) (205) (804)
Earnings from discontinued operations, net of
income taxes 285 881 203
NET (LOSS) EARNINGS $ (442) $ 676 $ (601)
Basic and diluted net (loss) earnings per share:
Continuing operations $ (2.58) $ (0.71) $ (2.80)
Discontinued operations 1.01 3.06 0.71
Total $ (1.57) $ 2.35 $ (2.09)
Cash dividends per share $ 0.50 $ 0.50 $ 0.50
The accompanying notes are an integral part of these consolidated financial statements.