Kodak has recorded a further fall in revenue for Q2 2017, while reporting an improvement in Prosper annuities and Sonora plate volumes.
In its Q2 results for the year to 30 June 2017, the group recorded an overall sales decline of 10% on the same period last year, from $423m  to $381m, while net profit fell from $8m to $4m.
Operational EBITDA before corporate costs for the quarter fell 18%, from $44m to $36m, while the group ended the quarter with a decreased cash balance of $370m, reflecting the use of cash in working capital items such as inventory increases for sequential revenue growth.
In a webcast, Kodak chief executive Jeff Clarke said: “Performance was within expectations for the first half of the year but we expect to see a higher proportion of revenues, earnings and cashflows into the second half.”
In its Enterprise Inkjet Systems Division (EISD), which encompasses Prosper, and also the Versamark business, revenues were down 20%, from $44m to $35m, while operational EBITDA rose to $3m, from a $4m loss last year.
However, Prosper delivered annuity growth of 14% over the last quarter while in the year to 30 June, the Prosper Imprinting System install base rose to 1,364, leading to a revenue increase of 29% to $54m. The EISD is expected to break even or be profitable this year.