Polaroid said the weaker dollar abroad and strong sales of instant cameras in the United States contributed to healthy earnings gains in the fourth quarter and all of 1985.
Fourth-quarter profits were $26 million, up 141% from the year-earlier period. Sales grew 13% to $427.2 million from $376.8 million in the fourth quarter of 1984.
For all of 1985, profits were $36.9 million, compared to $25.7 million in 1984. Sales were nearly steady, however, at $1.3 billion in 1985, compared to $1.27 billion in the previous year.
"The combination of higher sales, the weakening of the U.S. dollar and savings from ongoing cost-reduction programs designed to improve efficiencies in the company's operations were significant factors in our improved performance. We are encouraged by these results," said I. MacAllister Booth, Polaroid's president and chief executive.
The company also announced that its new instant photography system will be introduced in Los Angeles on April 2. The system includes a new camera, new film and a new copy print service based on laser technology.