| Address:
|
800 SOUTH STREET
SUITE 305 |
| City: |
WALTHAM |
|
State: |
MA |
|
Zip Code: |
02453-1472 |
| Telephone: |
781-894-9770 |
|
Description of Business
|
Primary SIC Code:
3931 |
| (As filed with the SEC)
|
|
|
Steinway Musical Instruments, Inc., through its wholly owned subsidiaries,
is a global leader in the design, manufacture, marketing and distribution of
high quality musical instruments. We are the largest domestic manufacturer of
musical instruments. Whenever we refer to the "Company" or to "us," or use the
terms "we" or "our" in this annual report, we are referring to Steinway Musical
Instruments, Inc. and its subsidiaries.
Steinway Musical Instruments, Inc., formerly Selmer Industries, Inc., was
incorporated in 1993. We are a Delaware corporation with our principal executive
offices located at 800 South Street, Suite 305, Waltham, Massachusetts 02453,
and our telephone number is (781) 894-9770. Through our corporate website,
www.steinwaymusical.com, we provide access free of charge to all of our filings
with the SEC, including our Annual Reports on Form 10-K, quarterly reports on
Form 10-Q, and current reports on Form 8-K. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | 0.16 | NA | 134.75 | | 06/2011 | 0.38 | NA | 67.61 | | 03/2011 | 0.55 | NA | 40.38 | | 12/2010 | 0.68 | NA | 29.19 | | 09/2010 | 0.87 | NA | 19.79 | | 06/2010 | 0.81 | NA | 21.96 | | 03/2010 | 0.65 | NA | 28.97 | | 12/2009 | 0.60 | NA | 26.52 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2010 |
Leverage |
2010 |
| Net Inc/Comm Equity | 0.07 | Total Liab/Total Assets | 0.53 | | Net Inc/Total Assets | 0.02 | Total Liab/Inv Cap | 0.60 | | Net Inc/Inv Cap | 0.02 | Total Liab/Comm Equity | 2.39 | | Pretax Inc/Net Sales | 0.04 | Interest Coverage Ratio | 2.18 | | Net Inc/Net Sales | 0.02 | Curr Debt/Equity | 0.01 | | Cash Flow/Net Sales | 0.11 | LTD/Equity | 0.67 | | SG&A/NetSales | 0.23 | Total Debt/Equity | 0.68 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 5.77 | Quick Ratio | 3.42 | | Inventory Turnover | 1.47 | Current Ratio | 6.11 | | Inventory Day Sales | 0.00 | Net Rec/Curr Assets | 0.16 | | Net Sales/Work Cap | 1.16 | Inv/Curr Assets | 0.44 | | Net Sales/PP&E | 3.68 | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
89.76
|
88.94
|
72.93
|
88.07
|
|
Cost of Goods Sold
|
63.78
|
62.47
|
50.53
|
58.80
|
|
Selling & Admin Exps
|
19.73
|
23.34
|
18.73
|
20.18
|
|
Operating Income
|
1.10
|
2.92
|
3.67
|
8.16
|
|
Interest Exp
|
1.27
|
1.80
|
2.72
|
2.71
|
|
Pretax Income
|
-1.80
|
-1.75
|
0.83
|
4.82
|
|
Other Income
|
-1.63
|
-2.86
|
-0.12
|
-0.62
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
-1.08
|
-1.05
|
0.51
|
3.36
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
41.22
|
34.15
|
107.07
|
119.81
|
|
Receivables - Total
|
61.22
|
59.01
|
53.20
|
53.80
|
|
Inventories - Total
|
140.33
|
151.00
|
152.93
|
144.50
|
|
Total Current Assets
|
258.98
|
258.24
|
325.25
|
328.63
|
|
Net Property, Plant & Equipment
|
85.29
|
87.39
|
87.21
|
86.40
|
|
Total Assets
|
410.28
|
417.45
|
484.29
|
485.09
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
12.23
|
12.49
|
11.15
|
12.14
|
|
Debt in Current Liabilities
|
0.65
|
1.24
|
87.17
|
2.46
|
|
Total Current Liabilities
|
46.61
|
46.39
|
131.71
|
53.78
|
|
Long-Term Debt
|
77.35
|
79.34
|
67.32
|
152.05
|
|
Total Liabilities
|
173.04
|
179.04
|
251.39
|
256.47
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.01
|
0.01
|
0.01
|
0.01
|
|
Retained Earnings
|
132.28
|
133.51
|
134.71
|
134.21
|
|
Treasury Stock
|
-44.68
|
-45.94
|
-47.07
|
-47.07
|
|
Total Stockholders' Equity
|
237.24
|
238.40
|
232.90
|
228.62
|
|
Total Liabilities and Stockholders' Equity
|
410.28
|
417.45
|
484.29
|
485.09
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
8.88
|
2.31
|
-10.33
|
24.55
|
|
Net Cash Provided by Investing Activities
|
-1.43
|
-2.11
|
-3.86
|
-1.88
|
|
Net Cash Provided by Financing Activities
|
0.31
|
-73.93
|
0.05
|
1.21
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2006 | 384.62 | -0.67 | -0.08 | | 12/2007 | 406.31 | 15.41 | 1.78 | | 12/2008 | 387.41 | 8.19 | 0.95 | | 12/2009 | 306.44 | 5.34 | 0.60 | | 12/2010 | 318.12 | 7.90 | 0.68 | | Growth Rates | -4.63 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 72 | 6,496 | 52.58 |
|
Report Date :
1/30/2012
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