The US-headquartered manufacturer posted overall sales of $321m (£265m) for the three months to 30 June. 

Operating income increased from $16m to $20m year-on-year. 

Executive chairman and CEO Jim Continenza said the group’s performance had been achieved despite “ongoing inflationary and supply chain challenges”.

Kodak said that operational EBITDA was boosted by improved pricing and volumes, including continued growth in sales of Sonora process-free plates, “partially offset by higher continued ongoing global cost increases”. 

Continenza said the business had officially launched two new products using its Ultrastream inkjet technology, the Kodak Prosper Ultra 520 and Uteco Sapphire Evo W Press for flexible packaging.

It announced the Prosper 7000 Turbo inkjet in June, while the Ascend sheetfed device became commercially available during the quarter. 

“We continue to invest in digital print technologies designed to help our customers mitigate cost and supply risks associated with traditional prepress,” he said. 

At Traditional Printing, the group’s biggest unit, sales rose from $169m to $194m, while operational EBITDA increase to $10m (2021: $6m). 

Sales at its Digital Printing wing fell 6.5% to $58m and the business slipped to a $4m loss. 

Sales at Advanced Materials & Chemicals overtook digital printing, and increased to $61m (2021: $54m), while operational EBITDA at that unit was flat at $1m.

Kodak finished the quarter with $289m in cash, after drawing down a $50m loan. The cash balance was down $73m compared with the year-end. 

Kodak invested $25m in a minority stake in Wildcat Discovery Technologies, which is involved with developing new battery materials including an electric vehicle ‘super cell’.

CFO David Bullwinkle commented: “The use of cash in the second quarter primarily reflects higher inventory levels which strengthen our ability to serve our customers and support increased revenues. 

“As planned, the company also continues to invest in new product innovations and growth areas.”