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Shares plunge 25 percent

Wednesday, Sept. 27, 2000 | 11:19 a.m.

THE ASSOCIATED PRESS

ROCHESTER, N.Y. -- Shares of Eastman Kodak Co. slid 25 percent Tuesday to their lowest level in more than six years after the world's largest photography company warned it will fall short of third-quarter earnings projections due to an unexpected falloff in demand for photography products.

"We're in a big derailment right here and we're trying to figure out what it is," Bob Brust, Kodak's chief financial officer, said Tuesday.

Kodak predicted earnings would be 20 cents to 25 cents per share lower than its previously projected range of $1.56 to $1.66 a share.

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