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


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

Trade in your old interface for a 20% discount on the Fireface UFX

13 Oct 2016 15:17

Through registering with Focusrite you can expect a multitude a number of unique and exclusive plug-ins every month

12 Oct 2016 14:39

The company's first 100% analog drum machine, the DrumBrute packs a dynamic punch

10 Oct 2016 13:45

Today Izotope have launched Neutron. A dynamic and multi faceted mixing control that provides the user with boundless space for musical creativity

5 Oct 2016 09:18

For those looking to buy a pair of ADAM Audio studio monitors and save cash, look no further! ADAM Audio have just launched their Student Cashback Program.

4 Oct 2016 16:13

Recent Music News


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

With Pearl Jam, Tupac, , Depeche Mode, Janet Jackson and many more being nominated, this years event shaping up to be huge.

20 Oct 2016 10:57

His first album in over 38 years, Chuck's new album is to feature his family and his own original material

19 Oct 2016 14:37

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

Opening a public forum on Facebook, Behringer are looking to make the dream product, catering to their customers every need.

17 Oct 2016 15:36