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Kodak Reports Strong Quarteran Kodak here reported net income jumped 35% to $495 million for the second quarter ended June 30, up from $368 million in the same period a year ago.And while sales declined 8% to $3.5 billion from $3.8 billion in the same period last year, company officials said they were highly encouraged by the improvements in the company's performance."The strategies we put into place

Kodak Reports Strong Quarter

an Kodak here reported net income jumped 35% to $495 million for the second quarter ended June 30, up from $368 million in the same period a year ago.

And while sales declined 8% to $3.5 billion from $3.8 billion in the same period last year, company officials said they were highly encouraged by the improvements in the company's performance.

"The strategies we put into place are beginning to yield their intended results, particularly our cost-reduction programs and productivity gains that have enabled us to address the current pricing environment while improving gross profit," said George Fisher, Kodak chairman and chief executive officer.

The sales decline was also due to the loss of revenue associated with the formation of Kodak Polychrome Graphics, reclassification of certain promotional expenses, and the effects of the strong U.S. dollar.

Net income for the first half of 1998 reached $720 million, up 39% from $517 million in 1997.

Fisher said the company was pleased with retailer and consumer reaction to aggressive summer film pricing Kodak launched "to address the competitive situation in the U.S. consumer film market," but added that "much work remains."

He said Kodak "will continue to defend our [market] share everywhere in the world, drive for revenue growth, and achieve a world-class cost structure."