Kodak earnings, sales up in qtr.

Eastman Kodak Co. weathered last year well, despite hefty restructuring charges, by posting higher earnings and sales for the fourth quarter.

The company reported net income of $ 299 million (92 cents per share), vs. a $ 400 million ($ 1.23) net loss in the same quarter last year.

Last year’s performance includes a $ 597 million ($ 1.84) restructuring charge.

Revenues for the period were up slightly to $ 5.6 billion, from $ 5.2 billion for the comparable quarter.

Annual earnings were $ 1.15 billion ($ 3.53), vs. $ 17 million (5 cents) last year. This year’s performance includes a $ 152 million (47 cents) one-time gain from an accounting change. It also offset a $ 142 million (43 cents) after-tax restructuring charge.

Sales for the year were a record $ 20.2 billion, up 4% from $ 19.4 billion in 1991.

Kodak said its Imaging segment, which includes motion pictures, reported higher sales and earnings in 1992, but these results fell short of expectations.

Worldwide imaging sales were $ 7.42 billion, up 5% over 1991. Earnings were $ 1.2 billion, compared to $ 489 million in the comparable period.

The stock closed down 75 cents to $ 48.875.

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