Ladies and gentlemen, thank you for standing by, and welcome to the Eastman Kodak Q3 2021 Earnings Call. [Operator Instructions] I would now like to turn the call over to your host, Paul Dils. You may begin.

Thank you, and good afternoon, everyone. I am Paul Dils, Eastman Kodak Company's Chief Tax Officer and Director of Investor Relations. Welcome to Kodak's Third Quarter 2021 Earnings Call. At 4:15 p.m. this afternoon, Kodak issued its release on financial results for the third quarter 2021. You may access the presentation and webcast for today's call on our investor center at investor.kodak.com. During today's call, we will be making certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. All forward-looking statements are based upon Kodak's expectations and various assumptions. Future events or results may differ from those anticipated or expressed in the forward-looking statements. Important factors that could cause actual events or results to differ materially from these forward-looking statements include, among others, the risks, uncertainties and other factors described in more detail in Kodak's filings with the U.S. Securities and Exchange Commission from time to time. There may be other factors that may cause Kodak's actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to Kodak or persons acting on its behalf only apply as of the date of this presentation and are expressly qualified in their entirety by the cautionary statements included or referenced in this presentation. Kodak undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. In addition, the release just issued and the presentation provided contains certain measures that are deemed non-GAAP measures. Reconciliations to the most directly comparable GAAP measures have been provided with the release and within the presentation on our website in our Investor Center at investor.kodak.com. Speakers on today's call are Jim Continenza, Kodak's Executive Chairman and Chief Executive Officer; and David Bullwinkle, Chief Financial Officer of Kodak. We will not be holding a formal Q&A during today's call. As always, the Investor Relations team is available for follow-up. I will now turn the call over to Jim.

Thank you, Paul, and welcome, everyone, to the third quarter 2021 investor call for Kodak. I am happy with the third quarter results. The plan we put in place 2.5 years ago, we'll continue to execute on it. And we've had some additional challenges despite the rapid inflationary pressures, including the rising cost of raw materials, shipping, supply chain, additional challenges in labor. Right. We will continue to focus as One Kodak and on our customer. The conditions are same for everyone. And we all have to work through those, and we have to execute. We are taking action to mitigate these impacts. We're looking to make sure that we buy core products that we need to continue our manufacturing process. And with that, I'm proud to say our revenues were up $111 million year-to-date, $90 million after FX year-over-year. We are committed to continue innovation in digital print. That hasn't changed. We're going to meet customer needs. We're going to innovate. Some examples, we continue to innovate with the PROSPER platform, Stream and ULTRASTREAM. We are also opening up new opportunities for our printers with the announcement of the KODAK ASCEND Digital Press. It opens up new profitable applications and opportunities in retail, point-of-sale and small packaging for printers. We're also continuing to invest in PRINERGY On Demand, making the printing industry's most secure and highest performing software platform affordable for more printers. I want to discuss plates. Strategically, right, we are well positioned. We manufacture in the U.S., Asia and Europe. And to be clear, we are now the last standing large U.S. manufacturer in plates. I'm pleased to also say that we saw strong growth in our SONORA Process-Free Plates, up 35% for the quarter. SONORA XTRA has been well accepted in the marketplace. I want to thank the printers for supporting sustainability in printing by using the eco-friendly SONORA Process-Free Plates. I also want to note our growth is also coming from new customer growth. As we moved into One Kodak and a customer-first model, we're seeing, as you saw, the growth in revenues. We're also seeing our customer base grow in plates. I'm also pleased to announce that we received the 2021 Pinnacle InterTech Award for KODAK SONORA XTRA Process-Free Plates. I want to talk a little bit about film. I'm pleased to report that we are seeing a resurgence in our film business. More people are shooting still film, and the motion picture industry is choosing film as the ideal medium for their productions. As a result, we are increasing the capacity of our film factory. As we continue to execute on our long-term strategy, we are going to continue to focus on our core competencies in print, advanced materials and chemicals, provide environmentally sustainable solutions, both products and internally, turning the business to focus on innovation, growth and profitability. Now I'd like to turn over to David Bullwinkle, our CFO.

Thanks, Jim, and good afternoon. Today, the company filed its Form 10-Q for the quarter ended September 30, 2021, with the Securities and Exchange Commission. As always, I recommend you read this filing in its entirety. I will now share further details on the full company results, operational EBITDA and cash flow for the third quarter and 9-month period ending September 30, 2021. On Slide 5, for the third quarter of 2021, we reported revenues of $287 million compared to $252 million in the prior year quarter or an increase of $35 million. Adjusting for the favorable impact of foreign exchange of $2 million in the current year quarter, revenue increased by $33 million compared to the prior year quarter. On a U.S. GAAP basis, we reported net income of $8 million for the third quarter compared to a net loss of $445 million in the prior year quarter. The 2021 and 2020 third quarter results include income of $3 million and expense of $431 million, respectively, related to changes in the fair value of embedded derivative liabilities. The third quarter of 2021 results also include income of $1 million related to noncash changes in workers compensation reserves and $1 million related to a net loss on the sale of assets. The third quarter of 2020 results include expense of $9 million related to noncash changes in workers compensation reserves, $2 million related to the loss on extinguishment of debt and income of $1 million related to a decrease in accounts receivable reserves. Excluding these current and prior quarter items, income for 2021 was $5 million compared to a loss of $4 million in the prior year quarter, reflecting an improvement of $9 million. Operational EBITDA for the quarter was a positive $6 million compared to a negative $1 million…

In summary, our strong third quarter performance reflects the impact of our business we’ve made as we mitigate inflationary pressures and our continued focus on our core competencies as part of our long-term plan. Over the past 2 years, we have concentrated on our strengths as an industrial manufacturer, established customer-first model, One Kodak, delivered our balance sheet and raised additional capital. The result is improved performance in our business and a solid foundation. We’re well aware of the challenging times ahead of us, but we are committed to continue to work through them. Thank you all for attending the call and your interest in Kodak. End of Q&A: Ladies and gentlemen, this does conclude today's presentation. You may now disconnect, and have a wonderful day.