Kodak had a gross profit of $18.9 million, as it has every month so far in 2013. In May 2012, by comparison, the company had a gross loss of $18.2 million.
Gross profits don’t account for a variety of expenses such as such as administrative costs, R&D, and reorganization and restructuring costs. Including those, Kodak’s U.S. operations lost $47.9 million in May — roughly the same as its loss in April though a big improvement from the $88.3 million bottom-line loss in May 2012.
Of that $47.9 million loss, about $12.5 million of that was reorganization costs — essentially, all the spending the company has to do related to its Chapter 11 bankruptcy.
Chapter 7 is only a matter of time since EK can't turn a profit. Nobody is going to throw money away on this headache !