Eastman Kodak Co said on Wednesday it would restate earnings for the first three quarters of 2004 and all of 2003 to fix accounting errors related to income taxes, pensions and retirement benefits and other issues. The company separately said it would close a paper plant in its hometown of Rochester, New York, leading to about $50 million in restructuring charges and an unspecified number of job cuts.
Kodak said it would seek an extension for filing its annual report with securities regulators in order to have enough time to complete the restatements.
The company said the restatements would reduce 2004 net earnings by $21 million, or 7 cents per share.
Comments
Comments are closed.