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Topic: Business News: Steinway's Sales Up

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  1. #1
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    Business News: Steinway's Sales Up

    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.

  2. #2

    Re: Business News: Steinway's Sales Up

    Wait until the Garritan Steinway hits the market! That should improve domestic sales by a good bit.

  3. #3

    Re: Business News: Steinway's Sales Up

    They're definitely playing my tune:

    http://bigcharts.marketwatch.com/qui...&freq=1&time=4

    Nice work, Steinway!

    David
    www.DavidSosnowski.com

  4. #4
    Senior Member Styxx's Avatar
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    Re: Business News: Steinway's Sales Up

    What's a Steinway?
    Styxx

  5. #5

    Re: Business News: Steinway's Sales Up

    Quote Originally Posted by Styxx View Post
    What's a Steinway?
    990 pounds.

  6. #6

    Re: Business News: Steinway's Sales Up

    Quote Originally Posted by etLux View Post
    990 pounds.
    If only that were pounds sterling, I'd just about spring for one - heck, I'd get two...

  7. #7

    Re: Business News: Steinway's Sales Up

    Quote Originally Posted by jjloving View Post
    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>

    Raymond

  8. #8
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    Re: Business News: Steinway's Sales Up

    Quote Originally Posted by Raymond62 View Post
    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>

    Raymond
    Raymond,

    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



  9. #9
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    Re: Business News: Steinway's Sales Up

    Quote Originally Posted by propianist View Post
    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

  10. #10

    Re: Business News: Steinway's Sales Up

    [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

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