Revenues at Kodak's Graphic Communications Group (GCG) fell marginally from $670m to $656m, while its EBIT result improved from a $28m loss to break even.

According to Kodak, this improvement was "primarily driven" by lower raw material costs, including aluminium, the cost of which fell dramatically in the quarter.

The company also highlighted increased volumes of digital plates and improved operational performance, particularly within its digital printing and pre-press business segments.

Chairman and chief executive Antonio Perez said: "We continue to gain share in our growth businesses, maintain cost discipline, and drive improved profitability.

"We remain focused on building a leaner, more competitive company powered by innovative products that compete in large, new markets."

For the six months to 30 June, Kodak GCG posted revenues of $1.3bn and an EBIT loss of $22m, while group turnover rose 8% to $3.5bn.

However, first-half profitability at the group was hit as a result of the group's financial position, which led it to restructure its debt twice between September 2009 and March 2010.

This led Kodak to take a $111m hit for early debt extinguishment on the repurchase of the $300m Senior Secured Notes due in 2017 that were issued to US private equity house Kohlberg, Kravis Roberts & Co (KKR) last September.

The $111m loss halved Kodak's first-half pre-tax profit to $104m, although on the upside the terms of the KKR convertible notes were so onerous that the company couldn't help but improve its long-term position by repurchasing them.