Word: kodaks
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Shareholders had more than the new Polavision system to cheer about. The company's instant still-picture cameras, including the Pronto line (the cheapest sells at discount for less than $50) introduced about a year ago, are doing very well. They have prevented archrival Eastman Kodak, the giant of U.S. photography with sales of $5.4 billion, from grabbing as much of the market as expected in its first year in the instant-camera field.* Polaroid's 1976 sales of $950 million missed the magic billion-dollar mark by a shutter click, and its first-quarter 1977 profits jumped...
...problem that Polavision apparently will not encounter, at least any time soon, is competition from Kodak. At the Kodak annual meeting, held on the same day as Polaroid's, Chairman Walter Fallon indicated to a generally critical audience that the company is not trying to develop an instant-movie system. Instead, it is concentrating on other goals, including trying to eliminate the flashbulb in still photography by making a whole new series of amateur cameras to use high-speed film. In March Kodak introduced a fast color film with an ASA rating...
Many Did Well. Yet for each downbeat performance, there were many companies that did well. Xerox, struggling against stiff competition in the copier field from Eastman Kodak, IBM and Savin, posted a 12% earnings rise, to $91.6 million, about equal to total company revenues 15 years ago. American Telephone & Telegraph, which last year became the first U.S. company to earn more than $1 billion in a single quarter, did it again in the recent quarter. Earnings were $1.09 billion, up 26%. Polaroid, expected to introduce its long-awaited instant movie camera at its annual meeting this week, earned $14 million...
...Tigers are coming off a win in the Kodak classic over Christmas, their first tourney victory since 1965. After losing bluechippers Armond Hill, Barnes Hauptfuhrer, and Mickey Steurer to graduation, no one expected Princeton to be 7-2 at this stage of the season...
...Tigers have proved their mettle, though, bumping off a bevy of big name hoop powers while holding the opposition to less than 52 points a game. The team journeyed up to Rochester for the annual Kodak shindig, in which Harvard played last year, and proceeded to dispatch Ohio State and St. Bonaventure...