Edging closer to profitability, and a big one-time windfall of hundreds of millions of dollars, made February a relatively decent month for Eastman Kodak Co.

    Flush with cash from selling a mountain of digital imaging patents, the company’s U.S. operations in February showed a $404 million profit, according to the company’s latest monthly operating report as required by its ongoing Chapter 11 bankruptcy.

    However, minus that roughly $525 million from the patent sale, but also not counting the $87 million the company spent on bankruptcy-related items, Kodak’s U.S. operations would have been in the red to the tune of about $34 million for the month. A year earlier, in February 2012, Kodak had a net loss of $97 million — or $78 million, if you don’t count what it spend on bankruptcy that month.

    The Rochester-based printing and imaging company filed its February operating report on Thursday and the numbers continue to show how much the company has cut from its monthly expenses — tens of millions of dollars — and how it is fairly regularly running an arguably profitable operation.

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(Democrat AND Chronicle.com)