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> On 2/8/07, Tim Hughes <timhughes@xxxxxxxx> wrote:
> >
> > NEW YORK (MarketWatch) -- Eastman Kodak (EK :
> Eastman Kodak Co.
> >
> > 10:35am 02/08/2007
> >
> > EK26.43, -0.26, -1.0%) Thursday outlined further
> details of its digital business strategy, saying
> > it now plans to cut a total of 28,000 to 30,000
> jobs, up from a prior projection for the layoff of
> > 25,000 to 27,000 employees. The company said it
> eliminated 1,200 jobs in the fourth quarter,
> > bringing the total-to-date reductions to 23,400
> positions. Kodak sees charges of between $3.6
> > billion and $3.8 billion related to the
> restructuring program, up from a previous view for
> charges
> > totaling $3 billion to $3.4 billion. The company
> is looking to complete the restructuring program
> > by the end of 2007. Kodak also said it expects
> earnings from operations to equal between 8% and 9%
> > of revenue in 2009 with its target business model
> yielding gross profit margins of 28% to 29%. For
> > 2007, the company expects net cash generation of
> $100 million to $200 million on a continuing
> > operations basis following restructuring
> disbursements of about $600 million and an
> aggressive
> > introduction plan for inkjet products
>
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