Steinway Musical Instruments.Steinway Musical Instruments, Inc. reported a 10 percent increase in sales for the quarter ending September 27 2003 amounting to $83 million. In addition, its EBITDA increased 23 percent amounting to $11 million. Piano sales for the quarter increased 19 percent to $42 million from $36 million in the year ago quarter. In addition, unit shipments of Steinway & Son grand pianos jump overed 15 percent, while shipments of Boston and Essex pianos increased 8 percent Steinway's sales of band and orchestral instruments were $40 million for the third quarter, equal with the prior year, unless year-to-date sales were down 6 percent from the prior period. COPYRIGHT 2004 Music Teachers National Association, Inc. |
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