HP named Christopher Morgan senior vice president of the Graphics Solutions business unit within its Imaging and Printing Group (IPG).

Kodak posted third-quarter 2009 revenue of $1.78 billion that it says reflects improved operating performance in a number of businesses, contributing to “significant year-over-year improvement in cash performance, including positive cash generation before restructuring payments.”

Kodak says the third-quarter results also demonstrate the success of focused investments it is making in new products and core growth businesses, especially in consumer and commercial inkjet where sales growth has reached more than 100%. Cost containment and more tightly focused spending on R&D also positively contributed to the 3Q results.

Kodak’s ability to see improved fourth-quarter results is predicated upon an improvement in the market for its consumer and commercial products, the introduction of higher margin digital cameras and devices and stronger demand for its prepress products, along with the benefits from its intellectual property transactions.

“Our sales are stabilizing and some businesses are showing real signs of growth in the fourth quarter. That, combined with operational improvements in several of our key product lines, increases our optimism for significant improvement in the fourth quarter, our largest quarter of the year,” said Antonio M. Perez, chairman and CEO. “We also continue to gain significant traction with our new consumer and commercial inkjet businesses, and the productivity improvements that we’ve implemented thus far are helping to drive improved cash performance.

“Our consumer inkjet hardware and ink products enjoyed another quarter of revenue growth that exceeded 100%, earning us a larger share of the market, and commercial inkjet customer commitments for our Prosper Press Platform continue to grow rapidly in anticipation of delivery beginning in early 2010. While consumer demand and commercial credit markets remain constrained for the time being, we are well positioned to deliver sustained profitability as the economy improves,” Perez added.

On the basis of generally accepted accounting principles (GAAP), Kodak reported a third-quarter loss from continuing operations of $111 million, or $0.41 per share, compared with earnings on the same basis of $101 million, or $0.35 per share, in the year-ago period. Third-quarter 2009 cash generation, before restructuring payments, was $29 million, compared with cash usage on the same basis of $78 million in the year-ago quarter. Kodak held $1.15 billion in cash and cash equivalents as of September 30, 2009, up from $1.13 billion on June 30. This excludes $575 million of restricted cash that it deposited in a cash collateral account to be used to fund the previously announced repurchase of convertible senior notes due 2033.