Music Gear News
Steinway Music Instruments misses target by a penny
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.
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
Only 22 Adam Clayton Signature Model Bass Guitars in Purple Sparkle Finish are available in the UK
Until 30th November 2017, save up to 50% on Komplete 11 bundles with Maschine and Komplete Kontrol hardware.
The Yamaha EAD-10 system is the latest in hybrid drum technology, providing studio-quality sounds triggered from an acoustic kit
The exciting 2018 PRS SE range of guitars has been announced and will be available soon
Fender Releases Limited Edition Blues Deluxe Reissue Guitar Amplifier
Ableton Live 10 updates the Live range and is available soon
Recent Music News
Announced at this year's NAMM Summer Show, the Fender Justin Meldal-Johnsen Road Worn Mustang Bass is now available
The KHDK Kirk Hammett Ghoul JR Overdrive delivers signature overdrive/distortion tones in a tiny micro-sized pedal format
Wampler announces the Tumnus Deluxe Overdrive Pedal - a new and improved tribute to a renowned overdrive pedal
The Epiphone Ltd Ed Joe Bonamassa 1958 "Amos" Korina Flying-V Guitar Outfit is a highly collectable yet gig-able instrument, with special signature appointments
The Apogee MiC Plus builds on the success of the 2011 MiC, bringing plug-and-play studio-grade recording quality to iOS devices and laptops
Fender releases new Ed O'Brien signature model Stratocaster loaded with a sustainer pickup; ideal for creating lush layered soundscapes