Eastman Kodak cut by more than half its second-quarter earnings outlook, blaming lower sales in Asia on the SARS outbreak.
Kodak, the world's top maker of photographic film, said it expects earnings from continuing operations for the quarter of 25 cents to 35 cents a share, compared with its previous outlook of 60 cents to 80 cents a share.
Shares of Kodak fell almost 10 per cent to $28.85 in pre-market trade today, down from a close of $31.99 on the New York Stock Exchange yesterday.
Kodak said its outlook reflects significantly lower-than-expected sales of consumer film and photographic paper in Asia, which it said was due to the outbreak of SARS, and said sales of consumer film and paper in the US and Europe were lower than expected due to economic weakness, more competitive pricing and the increased popularity of digital photography.