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Garritan
03-09-2008, 10:57 PM
Steinway's Sales Up 14% in Fourth Quarter

On Mar. 5, Steinway Musical Instruments, Inc. (NYSE: LVB) announced revenues jumped 14% for the for the fourth quarter, ended Dec. 31, to $121.3 million, and overall gross margins improved 220 basis points from 30.4% to 32.6%. Operating income more than doubled to $15.6 million from $6.3 million in the prior-year period.


Worldwide piano sales for the quarter increased $4.8 million, or 7%. Demand continued to be strong overseas where fourth quarter unit shipments of Steinway grand pianos rose 7% and unit shipments of mid-priced pianos increased 16% over the prior-year period. Domestically, Steinway grand unit shipments declined 4% primarily as a result of soft sales at company-operated stores. Piano gross margins improved from 37.5% to 41.3% in the quarter due to a better mix of higher priced instruments.
jmpaquette
03-09-2008, 11:28 PM
Wait until the Garritan Steinway hits the market! That should improve domestic sales by a good bit.:D
etLux
03-10-2008, 01:43 AM
They're definitely playing my tune:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=lvb&sid=0&o_symb=lvb&freq=1&time=4

Nice work, Steinway!

David
www.DavidSosnowski.com
Styxx
03-10-2008, 01:18 PM
What's a Steinway? ;)
etLux
03-10-2008, 01:23 PM
What's a Steinway? ;)

990 pounds.
Pingu
03-10-2008, 03:06 PM
990 pounds.

If only that were pounds sterling, I'd just about spring for one - heck, I'd get two...
Raymond62
03-10-2008, 04:29 PM
I vote Gary is not allowed to post anything with "Steinway" in the title unless it's followed by "Now Shipping"!

Don't you remember. The notes are ready, still on the to-do-list are:

the rests;
the wood polishing;
the tuning;
oiling the pedals;
finding a submarine big enough to ship it

<big grin>:D

Raymond
Garritan
03-11-2008, 10:18 PM
Don't you remember. The notes are ready, still on the to-do-list are:

the rests;
the wood polishing;
the tuning;
oiling the pedals;
finding a submarine big enough to ship it

<big grin>:D

RaymondRaymond,

the rests? - got plenty of rest
wood polishing? - would what?
tuning - very ask a harpist about tuning
oiling the pedals? oil's well

submarine? - All taken care of :D


http://tbn0.google.com/images?q=tbn:g4bMhcOlPXOw1M:http://www.popgadget.net/images/sub.jpg
Garritan
03-11-2008, 10:28 PM
I vote he's not allowed to keep using the word "imminent" for four months running."Imminent"? Did I say imminent?

I meant "eminent" which means "towering or standing out above others; of or characteristic of high rank or importance".

Seriously, we're getting close. Doing a hardcover book with black linen cover, gold foil embossing, vellum, 4-color print, etc - took a bit more time than I imagined. Hopefully it will all be worth the wait.

Thanks for your patience.

Gary
Raymond62
03-12-2008, 03:45 AM
[quote=Garritan;560529Seriously, we're getting close. Doing a hardcover book with black linen cover, gold foil embossing, vellum, 4-color print, etc - took a bit more time than I imagined. Hopefully it will all be worth the wait. [/quote]

You forgot: Steinway "The Movie" :)

Raymond