Kodak Details Restructuring Progress; Will ‘Wind Down’ Consumer Inkjet Printer Sales
• Continued negotiations with respect to the sale of its intellectual property assets and the development of alternatives in the event a transaction on acceptable terms is not reached, and
• Continuation of normal global operations while aggressively conserving cash, with worldwide cash balances consistently in excess of $1 billion and with Days Payable Outstanding remaining stable.
The company anticipates that in the near term, it will begin realizing savings from its new, more strategically focused business, workforce reductions and other cost-reduction initiatives. Kodak continues its analysis of further operational and workforce reductions in an effort to streamline operations and generate profits.
“The actions we are taking are significant steps toward our successful emergence,” said Perez. “We are committed to take the remaining steps required for our emergence in 2013 as a profitable, sustainable company.”