Steinway Musical Instruments
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Steinway Musical Instruments beat slightly on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share increased significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
Steinway Musical Instruments reported revenue of $100.7 million. The one analyst polled by S&P Capital IQ predicted revenue of $99.5 million on the same basis. GAAP reported sales were 6.5% higher than the prior-year quarter's $94.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.53. The one earnings estimate compiled by S&P Capital IQ anticipated $0.59 per share. Non-GAAP EPS of $0.53 for Q4 were 121% higher than the prior-year quarter's $0.24 per share. GAAP EPS of $0.51 for Q4 were 96% higher than the prior-year quarter's $0.26 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 34.5%, 250 basis points better than the prior-year quarter. Operating margin was 11.9%, 420 basis points better than the prior-year quarter. Net margin was 6.3%, 290 basis points better than the prior-year quarter.
Next year's average estimate for revenue is $372.6 million. The average EPS estimate is $1.60.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 62 members out of 67 rating the stock outperform, and five members rating it underperform. Among 29 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give Steinway Musical Instruments a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Steinway Musical Instruments is hold, with an average price target of $25.00.
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