Kodak in November reported financial results for the third quarter 2019, including a net loss of $5mn on revenues of $315mn and growth in key print and film product areas.

The report highlighted – GAAP net loss of $5mn for the quarter ending in September 2019, compared to GAAP net earnings of $19mn for the quarter ending in September 2018; revenues for Q3 2019 of $315mn compared to revenues for Q3 2018 of $329mn; and, operational EBITDA for the quarter of $14mn compared to operational EBITDA of $9mn in the prior-year period.

During the quarter, Kodak finalized the establishment of a strategic relationship with Lucky HuaGuang Graphics in China, including the sale of Kodak’s offset printing plates facility in Xiamen, China, a supply agreement, and an IP agreement under which Kodak licenses its plates technology to HuaGuang to expand the market in China. The current quarter operational EBITDA includes $13mn of license revenue received from this transaction.

Key productlines , Kodak Sonora and Kodak Prosper, achieved strong year-over-year growth for the year to date. Revenues for Kodak’s film business grew 21% year over year for the year to date. Kodak ended the quarter with a cash balance of $225mn.

Kodak’s executive chairman. Jim Continenza said, “Looking ahead to 2020, we will focus on generating cash by growing profitable revenue, making smart investments and eliminating unnecessary spending.”