Thursday, December 18, 2014
Loading...





Elkhart Steinway reports Q3 results

Posted on Nov. 15, 2012 at 12:00 a.m.

ELKHART — Steinway Musical Instruments, Inc., reported a rise in gross profits for the third quarter despite a drop in sales.

That same trend held true for the Elkhart-based Conn-Selmer unit, which saw a drop in third-quarter sales but a rise in gross margin.

Overall, Steinway reported sales of $89.3 million for the quarter, down $0.4 million from that quarter last year. Gross profit for the quarter was $29.4 million, up 13.1 percent over last year’s third quarter. Sales for the year reached $253 million, up $1.4 million over the same period last year. The company has $46.7 million in cash.

In band instruments, woodwind and percussion instruments were down while some brass instruments were up, even with price increases.




Recommended for You


Loading...
Loading...
Loading...
Back to top ^