As we anticipated, the strong U.S. dollar and the Asian economic crisis had a negative impact. What we did not expect was the level of reduction in inventories at dealers in the United States and Europe. |
August retail results were up in both cameras and film. In addition, the company continues to make progress in reducing its digital imaging losses. |
The next 12 months will be unmatched in Polaroid history for number and breadth of new products coming to the market. |
These products all draw on Polaroid's heritage for innovation, ease-of-use, fun and immediacy. |
We remain on plan to begin rolling out a number of new products, including our instant single-use camera in the second half of 1998. We are confident that 1999 will be one of the company's strongest in recent years. |