Baldwin vs. Steinway

Billbrpt@AOL.COM Billbrpt@AOL.COM
Thu, 3 May 2001 20:43:20 EDT


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List,

While the economic news for Baldwin has been abysmal, the story chez Steinway 
is quite the opposite.  In my opinion, the reason is very simple:  Steinway 
has always maintained that it builds pianos to the *best* of it's ability 
(whether anyone might take issue with that or not).  The manufacturers who 
have failed and are failing are those who have tried to build a *cheap* piano.

Bill Bremmer RPT
Madison, Wisconsin

Steinway Reports First Quarter Results Sales Top $100 Million

WALTHAM, Mass.--(BUSINESS WIRE)--May 3, 2001--Steinway Musical Instruments, 
Inc. (NYSE: 
LVB
), one of the world's leading manufacturers of musical instruments, today 
announced results for the period ending March 31, 2001. Net sales increased 
16%, to $101.6 million. Operating profit rose 9%, to $13.1 million from $12.0 
million in the prior year period. EBITDA increased 11%, to $16.8 million. 
Earnings per share were $0.58 for the first quarter, on par with the prior 
year....



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