Music Gear News

At we update our news channel daily to ensure you always get the latest and most important music news.

Steinway Music Instruments misses target by a penny

The music conglomerate Steinway Music Instruments revealed that it missed its target by a penny.
Great deals on musical instruments

Steinway Musical Instruments announced its latest quarterly figures, revealing that it had missed its target by a penny.

The global manufacturer of music instruments reported first-quarter sales of $73 million (£45 million), which was six per cent up from last year.

However, earnings came in at $0.06 (£0.04) per share, a penny less than were forecasted.

The company was upbeat and optimistic about the future: "We are seeing a nice recovery and the steps taken to lean out our cost structure are having a noticeable effect on our results.

"We delivered solid growth in sales and gross margins, both domestically and overseas."

The outlook does look promising for the company. 2012's projections average $1.57 (£1.00), up 56 per cent.

Steinway Musical Instruments is a leading manufacturer of music instruments. It makes pianos, woodwind, stringed, brass and percussion instruments.

It has over 14 manufacturing facilities in the US and Europe.

Buy Pianos & Keyboards Now


Posted on 15 Jun 2011 09:36 to category : Instruments News

Related Music News


Featuring an array of innovative components that provide the ultimate experience live DJing, the Traktor Kontrol S8 is the new benchmark for controllers everywhere

28 Oct 2016 12:38

Paving the path for unique high quality drum stools, Roc 'n' Soc's products cater to caters comfort and overall playing experience.

24 Oct 2016 15:23

With great discounts on Toontrack EZmix 2 Mix Software, Toontrack EZmix 2 Mixing Software EZmix Preset Pack Bundle and Toontrack EZmix Presets Bundle for EZMix 2 Mixing Software the choice for great and affordable mixing software has never been clearer!

21 Oct 2016 13:37

Builiding on their reputation for developing cutting edge music gear and accessories, Samsons new Z series bring professional audio quality and transparency to the table

20 Oct 2016 17:06

Toontrack have released Big Rock, a vintage based rock pack that brings classic flavours in a modern package

18 Oct 2016 15:07

A promotional offer from Akai running until the 31st December allows the user to explore a vast array of professional sounds on the renowned MPD218

18 Oct 2016 09:11

Recent Music News


Ranging from the AE-10 Aerophone Digital Wind Instrument to the Boutique VP-03 Vocoder, Roland remain on the cutting edge of musical innovation.

28 Oct 2016 11:08

Introducing the AD-2 Acoustic Amp, CP-1X Compressor and JC-22 Jazz Chorus Guitar Amplifier

27 Oct 2016 16:36

In August controversy was in the air as the Dirty Dancing stage show fired its live musicians in favour of a backing track. Now the Musicians' Union urge its members to join in the protest.

26 Oct 2016 15:38

Cancelling his remaining shows in December due to ill health, fears arise over the guitar legends health

26 Oct 2016 13:08

With two plug-ins worth up to 199 Euros, users who purchase a A77X between 24/10/2016-31/01/2017 can experience unprecedented audio quality at a fraction of the price.

25 Oct 2016 15:09

In recent times, the theft of musical instruments and gear seems to be more prevalent than ever. With this GPS guitar pedal, users can track their stolen equipment simply by logging in online on their phone or tablet.

24 Oct 2016 17:11