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Kodak sees Q2 shortfall, shares slide
BOSTON (CBS.MW) -- Shares of Eastman Kodak tumbled more than 11 percent Wednesday after the photography giant warned of a second-quarter profit shortfall partly because of SARS-related weakness in its Asian business.
Eastman Kodak (EK: news, chart, profile) shares slid $3.66 to $28.33 in early dealings.

The camera and filmmaker warned that second-quarter earnings from continuing operations would be 25 to 35 cents a share, down from previous forecasts of 60 to 80 cents a share, due to "significantly" lower than anticipated consumer film and photographic paper sales in Asia.

The company added that total sales for the quarter would be unchanged from year-earlier levels. Economic weakness, reduced tourism and geopolitical turmoil are expected to continue to negatively affect sales and earnings for the remainder of the year.

The Dow industrials component also said it expects to record charges totaling 10 to 20 cents a share for the exiting of the Phogenix joint venture, restructuring actions and license agreements.