| |
Sales by Operating
Segment (in millions) |
|
2000 |
Change |
|
1999 |
Change |
|
1998 |
|
| |
| Consumer Imaging |
| Inside the US |
$ |
3,738 |
+5% |
$ |
3,562 |
+7% |
$ |
3,342 |
| Outside the US |
|
3,668 |
–5% |
|
3,849 |
+1% |
|
3,822 |
|
| Total Consumer Imaging |
|
7,406 |
0% |
|
7,411 |
+3% |
|
7,164 |
|
| Kodak Professional |
| Inside the US |
|
711 |
-7% |
|
766 |
+6% |
|
725 |
| Outside the US |
|
995 |
–13% |
|
1,144 |
+3% |
|
1,115 |
|
| Total Kodak Professional |
|
1,706 |
–11% |
|
1,910 |
+4% |
|
1,840 |
|
| Health Imaging |
| Inside the US |
|
1,038 |
+9% |
|
954 |
+43% |
|
668 |
| Outside the US |
|
1,147 |
–2% |
|
1,166 |
+36% |
|
858 |
|
| Total Health Imaging |
|
2,185 |
+3% |
|
2,120 |
+39% |
|
1,526 |
|
| Other Imaging |
| Inside the US |
|
1,323 |
+1% |
|
1,312 |
-16% |
|
1,558 |
| Outside the US |
|
1,374 |
+3% |
|
1,336 |
+1% |
|
1,318 |
|
| Total Other Imaging |
|
2,697 |
+2% |
|
2,648 |
-8% |
|
2,876 |
|
| Total Sales |
$ |
13,994 |
-1% |
$ |
14,089 |
+5% |
$ |
13,406 |
|
Earnings From Operations and Net Earnings by Operating Segment -
See Note 17, Segment Information. |
|
2000 Compared with 1999
Consolidated Worldwide sales of $13,994 million declined less than 1% from 1999.
Excluding portfolio adjustments, which reduced revenue by 2%, and the negative impact of currency, which reduced revenue by 3%, sales were up 4% compared with 1999.
Deteriorating U.S. economic conditions in the second half of the year adversely impacted sales across a number of the Company’s businesses, particularly the consumer business.
Consumer film and paper experienced slight sales declines while the Company’s Kodak Professional segment experienced more significant declines.
However, a number of the Company’s businesses did achieve sales growth in 2000, including Health Imaging, Entertainment Imaging, Digital and Applied Imaging and Commercial and Government Systems.
During 2000, the Company amended its definition of digital to better reflect the digital product components of its graphics business as well as some additional product reassignments.
This principally includes computer to plate products and digital proofing systems. Under this new definition, digital revenues for the year were $3,001 million, an increase of 5% over 1999.
Digital products and services represented 21% of the Company’s 2000 sales. Sales of consumer digital products and services increased 16%, while sales of commercial digital products and services were flat.
Growth in consumer digital was led by increased revenues from consumer digital cameras while the commercial digital business saw sales increases in healthcare-related offerings largely offset by reduced graphics sales.
Earnings from operations associated with the above sales were a negative $58 million compared with a profit of $13 million in 1999.
Included in 2000 earnings from operations for the digital business are pre-tax charges of approximately $45 million related to the Company’s PictureVision acquisition and write-downs at the Company’s divested Eastman Software business.
Sales in emerging markets increased 7% from 1999, and represent 18% of the Company’s total revenue in 2000. Revenues generally increased in all major regions in which Kodak participates, with Greater China up 10%, Asian Emerging Markets up 9%, Greater Russia up 39%, Latin America up 3%, and Eastern Europe up 2%.
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