Eastman Kodak share price flat in after-hours trading as photography company's turnaround on a roll with narrower losses for the year ended December 2015

 
Hayley Kirton
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Kodak To Discontinue Iconic Kodachrome Slide Film
The company is also looking for a buyer for its Prosper business (Source: Getty)

Share price in Eastman Kodak stayed flat in after-hours trading as the photography company revealed that its losses had narrowed in its most recent set of results.

For the year ended December 2015, the company reported a net loss of $75m (£53m), down from a loss in the prior year of $118m, despite revenues dipping slightly to $1.8bn, down 15 per cent from $2.1bn the year before.

Kodak also managed to slash its operating expenses for the year to $330m, a 24 per cent improvement on the year before.

Meanwhile, for its fourth quarter, the company revealed revenues of $467m, a fall of 12 per cent compared to the same period the year before.

Shares in the company stayed flat trading at $11.02 in after-hours trading.

The company also announced that it was looking for a buyer to snap up its Kodak Prosper Enterprise Inkjet Business.

"The Prosper business has significant potential for accelerated growth," said Jeff Clarke, chief executive at Kodak. "To achieve its full economic potential, Prosper will be best leveraged by a company with a larger sales and distribution footprint in digital printing markets."

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