Published March 25, 2011
Antonio Perez, Eastman Kodak’s CEO, floated the $1 billion figure in an interview with Bloomberg News, saying his company “deserves to win” its battle against Apple (AAPL) and BlackBerry maker Research in Motion (RIMM).
The dispute is about whether or not Apple’s iPhone and RIM’s BlackBerry violated a patent held by Kodak on an image-preview feature in camera phones.
The U.S. International Trade Commission is expected to announce its decision Friday evening on whether or not to review a judge’s ruling against Kodak that said the companies did not violate the patent, the news agency reported.
“This is a lot of money, big money,” Perez told Bloomberg.
An additional $1 billion in revenue would certainly be considered a lot of money for Eastman Kodak, which has a market cap of just $840 million and brought in $7.2 billion in sales last year.
In his interview with Bloomberg, Perez compared it to the $550 million and $414 million Kodak received after favorable rulings against electronics companies Samsung and LG, respectively.
Inspired by the Perez comments, Wall Street snapped up shares of beaten-down Eastman Kodak, bidding the stock 9.9% higher to $3.44 Friday morning. However, even with those gains, the stock has plummeted just over 40% so far this year and nearly 50% from a year ago.