afternoon. Thanks, with This XXXX, SEC. Jim, for XX, good the March XX-Q ending afternoon, the Form quarter its filed the company and
on the for this and in XXXX share pricing profit revenue, full driving priorities Kodak generating I and long-term continued global of growth filing and foundation while its entirety. execution to cost reflect focus extremely will in difficult strong rationalization the and initiatives. cash during I The you the always, environment, cash continued results, in gross long-term the on invest As against a EBITDA continuing delivering details the to and company of of operational smart our quarter strategy. recommend of read build first quarter an company's face flow on results the XX% reductions XXXX, first these its percentage
On profit quarter. compared reported compared when for the $XXX first million $XX revenues million year the $XXX million Slide of in quarter X, we or a prior Gross prior million to of decline for $X or year quarter XX%. X% decreased to by the
to to Our XX% first team our compared gross percentage the of of result XXXX the which a taken XX% growth more have and was offering. efficient the established realize actions operations forward. value is the continue global in as in of our quarter economy make the quarter, momentum to prior to to of the year product profitable and going profit mitigate positive has our we drive effects These actions
prior Foreign or the versus currency of the revenues for impact quarter profit gross first period. had XXXX no year on
and On noncash and compared results a we to quarter, changes employee compensation million respectively, million reported of $X income for $XX $X a million, net million include reserves. prior benefit basis, of decrease quarter and in $XX in of year of income U.S. GAAP to the million. expense XXXX XX,XXXst related workers' quarter $X of XXXX the first The
first million fair to related prior income to income $X of million $X refund XXXX quarter net derivative include includes non-U.S. in sale $XX the assets embedded value authority. and million related on of governmental liabilities gain first of to a a results of changes The quarter related year of results expense of and a the from
of net of a compared items, to Excluding year million was for million. XXXX income quarter, $X was million. of $XX decline $XX for quarter these $X current a million prior EBITDA $X income million the in decline the prior compared the reflecting to Operational net and in $XX million prior year quarter quarter.
impact million significant functions. compensation and both workers' benefit of first the year quarter. decreased noncash when compared Operational investments prior and for current by the year back-office operational the was Excluding in by prior automation impacted simplification to reserves changes employee EBITDA quarter $X of of in the quarters, EBITDA XXXX unfavorably and in
our For growth, plan, plan of succeed. our fundamentals the increasing the we helping efficiency for investing operational from strategic customers on to and concentrate year, balance the
Moving of a the quarter Slide million XXXX. on increase $X and of performance company's first X. The to balance XX an with on million, cash presented December the cash $XXX from company ended
on of of provided million. cash including and a cash change $XX improving profitability Foreign on net of million prior $XX a by earnings capital, improvement activities to $X sheet the to quarter $X $XX working accounts $XX was an $XX which in and working million to $XX working $XX of decreased for cash period, exchange of million changes million cash. unfavorable cash quarter impact million. quarter, million of of balance driven payable and enhances operating million million. in decrease capital generate of the prior by other liabilities million, from the and focus Within performance ability year capital, team operating increased Inventory for reflecting increased an in from use Current due by provided compared proceeds continues licensing. a to had in provided company's was by accounts the The compared primarily cash activities primarily million to current $XX $XX by receivable quarter. year by current the $X brand million Cash by
amended cash of year the sale term million. to compared to from $X loan investing the received the proceeds quarter $X prior of year as due $XX from Restricted $XX balance of an the proceeds activities million the of assets Cash when December for decreased investing XXXX. to financing million in offset additions within XX, of by assets of Cash from provided the driven increased compared increase restated quarter an by million million, the used prepayment. first $XX by quarter by and activities. the million $XX in partially of first during period, to by XXXX sale activities compared by first prior increased the period. capital for
supporting required addition aluminum contracts As and Compensation escrows to ongoing cash under the cash restricted in company's represents collateral reminder, obligations. Workers' Board. facility undiscounted collateral letter State cash various obligations York actuarial with of to secure a compensation the New workers' the primarily certain supply credit
As in of the of an authority, refund excluding effects prior of the the of company governmental improvement XXXX from the non-U.S. delivered presented quarter and year the on to impact first the a year a period. million bottom slide, portion in cash compared $XX exchange, the prior foreign
of performance the We for with first company the are the pleased of financial quarter XXXX.
maintaining to the to focus and in opportunities hard to on growth the continue our fund execute foundation to continue strength have strategy. we the us our operations will of create ongoing invest provides to which worked We opportunity
covenants. all Finally, compliance remain with we applicable in financial
now turn discussion will Jim. the I back to
