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NEW YORK (CNNMoney) -- Eastman Kodak stock tumbled almost 18% Wednesday after the maker of photography products reported fourth-quarter earnings that were drastically lower than a year earlier.
The drop, to $3.71 a share, was the second in a row for the one-time Dow Jones industrial average component. On Tuesday, the company's stock dropped 13.4% to close at $4.52.
That decline was precipitated by a ruling from the U.S. International Trade Commission that Kodak's patent infringement claim against smartphone giants Apple and Research In Motion was "invalid." The claim concerned technology for previewing images on digital camera-enabled devices.
That case isn't closed, and a full ruling is expected in May, but investors were clearly spooked.
On Wednesday, that trend was exacerbated by the company's disappointing quarterly financial report.
Kodak (EK, Fortune 500) posted net income of 8 cents per share on revenue of $1.93 billion in the fourth quarter, down from earnings of $1.65 per share on revenue of $2.58 billion in the year-earlier period.
"In a year with significant external headwinds affecting a number of industries in which we participate, I am very encouraged by the performance of our key digital growth businesses," said Antonio Perez, Kodak's CEO. "That said, there were particular business challenges in 2010 that we are aggressively addressing."
In particular, Kodak is attempting to change itself from a company that relies on film and camera sales to a participant in intellectual property licensing. 
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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