Eastman Kodak has reported a 6 per cent fall in second quarter sales and a 14 per cent slide in net earnings per share, which it partially attributed to price pressures and a strong dollar. The company said sales came to $3.853 billion (£2.57 billion), compared to $4.2 billion in the same period last year, while net earnings fell to $368 million (£245 million) from $440 million.

Per share, earnings were $1.12, down from $1.30 and well below the $1.37 expected by Wall Street analysts. Kodak attributed the poor results to the strength of the dollar, as well as to higher losses for digital products, marketing expenses and price pressures.

Kodak recently opened a plant in Cork, manufacturing recordable compact discs for the European market, where 200 people are employed, with total job numbers due to rise to 610 in three years. The company is also investing £100 million in a film cassette manufacturing plant in Limerick, where it expects to employ 400 people. In the last quarter, domestic sales increased 2 per cent while those outside the US were flat. But the company noted that in emerging markets, sales generally improved during the second quarter, posting growth.