By: The Associated Press//May 11, 2011
By: The Associated Press//May 11, 2011//
Embattled photography icon Eastman Kodak Co. is holding its annual meeting in a San Diego suburb where one of its dynamic new businesses — consumer inkjet printers — is based.
Robust printer sales have offered some promise that the picture-taking pioneer can close out a nearly decade-long effort to recast itself into a profitable player in digital photography and printing.
Kodak is banking on replacing the huge profits it once made from film with ink revenue, which climbed 85 percent in the January-to-March quarter. It expects to turn its first profit from home inkjet printers late this year.
Based in Rochester,, Kodak expects more red ink this year before crossing back to profitability sometime in 2012.
Its meeting is being held Wednesday in Carlsbad, Calif.