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Eastman Kodak Co., the world's largest photography company, restated its profit lower for the past two years because of errors in accounting for income taxes, pensions and retirement benefits.

Net income for 2004 was reduced by 14 percent to $556 million, or $1.94 a share. It cut net income for 2003 by 4.5 percent to $253 million, or 88 cents.

The restatement stemmed from "inadvertent accounting errors" partly related to the company's shift to digital photography, Chief Financial Officer Robert Brust said Wednesday.

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