Music Gear News

At Gear4music.com 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

 ADNFCR-2133-ID-800579138-ADNFCR

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

Related Music News

thumbnail

Unconventional being what Ibanez do best, the SRAS7 brings the best of both worlds to the modern musician with its combination fretless and fretted fretboards,

12 Jan 2017 10:52
thumbnail

With a variety of new additions to their 2017 line-up, Korg spill the beans on their new revamps, updates and products that are to be appearing at NAMM

12 Jan 2017 08:34
thumbnail

With a stellar 2017 line up at hand Vox have yet again proved to be the masters of innovation, providing a solid mix of classics and contemporary twists

12 Jan 2017 08:34
thumbnail

Prime Series feature a Media Player, Turntable, Mixer and analysis software. Fulfilling every possible need of the modern DJ, Denon DJ hit the nail on the head.

10 Jan 2017 16:44
thumbnail

Ibanez have added six new guitars to their extensive acoustic range of guitars.

16 Jun 2016 11:06
thumbnail

AKG by HARMAN and UK distributor Sound Technology Ltd are pleased to announce the new AKG K67 and K167 professional-grade DJ headphones at Winter NAMM 2016.

26 Jan 2016 10:14

Recent Music News

thumbnail

Iconic Zakk Wylde bullseye design? Check. Monstrous and uncompromising tone? Check. The Odin Grail Genesis guitar delivers the goods to the metal masses

17 Jan 2017 13:40
thumbnail

Utilising state of the art recording and playback operation, the Fireface UFX II interface combines premium quality manufacturing with next level audio quality

17 Jan 2017 13:02
thumbnail

Also providing updates to their Masters, Signature, Giant Beat and Signature traditional lines, Paiste spill the beans on their NAMM 2017 releases.

16 Jan 2017 13:54
thumbnail

Revealing their new range of highly affordable S series, Gibson dish the dirt on their 2017 Line up including the Traditional Series, High Performance Series and more.

16 Jan 2017 13:11
thumbnail

Ideal for those players who flourish in an intuitive education environment, Flowkey puts you in charge of your learning offering a variety of insightful tools.

13 Jan 2017 16:14
thumbnail

The Sonzera series consists of a 50W combo, 50W Head and 20W combo.Used by Black Stone Cherry and Snarky Puppy, expect professional grade tone right off the bat

13 Jan 2017 13:25