The group recorded a profit of $430m (£270m) on sales of $2.58bn, up 45% from the last quarter and up 6% year-on-year, prompting a 19% surge in the company's share price.

Within Kodak's Graphic Communications Group (GCG), fourth-quarter 2009 sales came in at $779m – a 5% decline from the same quarter in 2008. However, profit reached $36m, up $40m from a $4m loss last year.

The company cited operational improvements across its product lines, coupled with an increased demand for digital plates and workflow products, for the return to profit.

Perez said: "Despite a difficult economic environment, we delivered in 2009. Our momentum is returning and our strategy is paying off.

"During 2009, we generated significant traction with our key digital businesses, we achieved sustainable operational improvements across the company, our earnings improved substantially, and we ended the year with more than $2bn in cash on our balance sheet."

According to Perez, the manufacturer enjoyed a 33% increase in sales of its VL2000 printer, as well as healthy orders for its Prosper inkjet product line.

"We enter the new year with the most competitive digital portfolio ever, strong presence in key markets, and a significant amount of positive momentum. All of this positions us well for improved performance in 2010," he added.