Kodak 2008 Annual Report Download - page 103

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101
NOTE 24: QUARTERLY SALES AND EARNINGS DATA – UNAUDITED
(in millions, except per share data) 4th Qtr. 3rd Qtr. 2nd Qtr. 1st Qtr.
2008
Net sales from continuing operations $ 2,433 $ 2,405 $ 2,485 $ 2,093
Gross profit from continuing operations 498 661 585 424
(Loss) earnings from continuing operations (914) (4) 101 (3) 200 (2) (114) (1)
(Loss) earnings from discontinued operations (9) (4) (5) 295 (1)
Net (loss) earnings (918) 96 495 (115)
Basic net (loss) earnings per share (10)
Continuing operations (3.40) 0.36 0.69 (0.40)
Discontinued operations (0.02) (0.02) 1.03 0.00
Total (3.42) 0.34 1.72 (0.40)
Diluted net (loss) earnings per share (10)
Continuing operations (3.40) 0.35 0.66 (0.40)
Discontinued operations (0.02) (0.02) 0.96 0.00
Total (3.42) 0.33 1.62 (0.40)
2007
Net sales from continuing operations $ 3,220 $ 2,533 $ 2,468 $ 2,080
Gross profit from continuing operations (11) 795 677 644 428
Earnings (loss) from continuing operations 92 (8) 32 (7) (154) (6) (175) (5)
Earnings from discontinued operations (9) 123 5 729 24
Net earnings (loss) 215 37 575 (151)
Basic net earnings (loss) per share (10)
Continuing operations 0.32 0.11 (0.53) (0.61)
Discontinued operations 0.43 0.02 2.53 0.08
Total 0.75 0.13 2.00 (0.53)
Diluted net earnings (loss) per share (10)
Continuing operations 0.31 0.11 (0.53) (0.61)
Discontinued operations 0.40 0.02 2.53 0.08
Total 0.71 0.13 2.00 (0.53)
(1) Includes pre-tax gains on curtailments due to focused cost reduction actions of $10 million (included in Restructuring costs,
rationalization and other), which reduced net loss from continuing operations by $9 million; pre-tax gains of $10 million related
to the sales of assets and business operations, which reduced net loss from continuing operations by $10 million; a pre-tax
legal settlement of $10 million (included in Cost of goods sold), which increased net loss from continuing operations by $10
million; and discrete tax items, which increased net loss from continuing operations by $10 million.
(2) Includes pre-tax gains of $7 million related to the sales of assets and business operations, which increased net earnings from
continuing operations by $7 million; support for an educational institution, which reduced net earnings from continuing
operations by $10 million; a $270 million IRS refund, offset by $18 million of other discrete tax items, which increased net
earnings from continuing operations by $252 million; and a pre-tax loss of $3 million related to rationalization charges (included
in Restructuring costs, rationalization and other), which reduced net earnings from operations by $4 million.
(3) Includes pre-tax restructuring and rationalization charges of $52 million ($4 million included in Cost of goods sold and $48
million included in Restructuring costs, rationalization and other), which reduced net earnings from continuing operations $49
million; changes to postemployment benefit plans, which increased pre-tax earnings and net earnings from continuing
operations by $94 million; a $3 million pre-tax loss on the sale of assets and businesses, net, which reduced net earnings from
continuing operations by $2 million; a pre-tax legal contingency of $10 million ($4 million included in Cost of goods sold), which
reduced net earnings from continuing operations by $6 million; and other discrete tax items, which increased net earnings from
continuing operations by $4 million.