Financial Statements for Steinway Musical Instruments Inc

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Steinway Musical Instruments Inc financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	76.80	100.74	89.32	85.70	77.95
Other Revenue, Total	-	-	-	-	-
Total Revenue	76.80	100.74	89.32	85.70	77.95
Cost of Revenue, Total	51.45	66.00	59.94	58.34	54.81
Gross Profit	25.35	34.74	29.38	27.36	23.15
Selling/General/Admin. Expenses, Total	19.75	21.68	20.54	21.22	20.95
Research & Development	-	-	-	-	-
Depreciation/Amortization	-	1.05	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	0.17	0.40	0.00	0.00
Other Operating Expenses, Total	0.02	-0.13	-0.05	0.18	0.04
Total Operating Expense	71.22	88.76	80.83	79.73	75.79
Operating Income	5.58	11.98	8.49	5.97	2.16
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-0.40	-1.21	-1.09	-1.15	-0.97
Income Before Tax	4.26	10.61	6.22	3.75	0.96
Income After Tax	2.69	6.35	4.17	2.40	0.59
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	2.69	6.35	4.17	2.40	0.59
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	2.69	6.35	4.17	2.40	0.59
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	2.69	6.35	4.17	2.40	0.59
Income Available to Common Incl. Extra Items	2.69	6.35	4.17	2.40	0.59
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-0.06	-	-	-	-
Diluted Weighted Average Shares	12.54	12.55	12.55	12.51	12.51
Diluted EPS Excluding Extraordinary Items	0.21	0.51	0.33	0.19	0.05
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.21	0.51	0.35	0.19	0.05

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	353.72	346.26	318.12	306.44
Other Revenue, Total	-	-	-	-
Total Revenue	353.72	346.26	318.12	306.44
Cost of Revenue, Total	239.08	241.11	222.17	221.52
Gross Profit	114.63	105.15	95.95	84.91
Selling/General/Admin. Expenses, Total	84.39	82.50	71.03	68.99
Research & Development	-	-	-	-
Depreciation/Amortization	1.05	1.10	1.23	1.31
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	0.57	7.91	-0.10	-2.46
Other Operating Expenses, Total	0.03	0.12	0.88	0.37
Total Operating Expense	325.12	332.75	295.20	289.73
Operating Income	28.60	13.51	22.92	16.70
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-4.43	-4.48	-1.25	2.60
Income Before Tax	21.54	3.58	12.96	8.51
Income After Tax	13.51	1.63	7.90	5.34
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	13.51	1.63	7.90	5.34
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	13.51	1.63	7.90	5.34
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	13.51	1.63	7.90	5.34
Income Available to Common Incl. Extra Items	13.51	1.63	7.90	5.34
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	-
Diluted Weighted Average Shares	12.53	12.38	11.70	8.86
Diluted EPS Excluding Extraordinary Items	1.08	0.13	0.68	0.60
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	1.11	0.93	0.67	0.25

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	-	-	-	-	-
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	61.72	73.41	46.65	40.46	43.67
Accounts Receivable - Trade, Net	40.28	30.83	49.38	47.39	42.49
Receivables - Other	-	-	-	-	-
Total Receivables, Net	40.28	43.54	49.38	47.39	42.49
Total Inventory	130.43	125.08	133.66	137.21	138.17
Prepaid Expenses	35.63	9.08	11.93	12.80	13.94
Other Current Assets, Total	5.05	5.23	11.78	12.10	12.14
Total Current Assets	273.12	256.33	253.40	249.96	250.41
Property/Plant/Equipment, Total - Gross	-	209.04	203.44	203.68	203.68
Accumulated Depreciation, Total	-	-117.56	-113.83	-114.94	-115.22
Goodwill, Net	22.53	22.92	22.57	22.37	23.07
Intangibles, Net	14.38	10.82	10.96	11.52	11.99
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	39.61	44.12	37.95	37.97	38.09
Total Assets	416.86	425.67	414.48	410.56	412.01
Accounts Payable	11.86	12.87	12.75	12.78	12.21
Accrued Expenses	-	-	-	-	-
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	67.98	0.58	0.64	0.63	0.60
Other Current liabilities, Total	35.60	40.17	35.82	34.38	35.48
Total Current Liabilities	115.44	53.62	49.21	47.78	48.30
Long Term Debt	0.00	67.43	67.42	70.90	70.38
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	0.00	67.43	67.42	70.90	70.38
Total Debt	67.98	68.01	68.06	71.53	70.99
Deferred Income Tax	0.47	0.56	2.39	2.29	2.62
Minority Interest	-	-	-	-	-
Other Liabilities, Total	58.88	62.21	53.36	54.53	56.37
Total Liabilities	174.79	183.82	172.38	175.50	177.68
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	162.68	162.58	162.55	161.47	161.18
Retained Earnings (Accumulated Deficit)	151.62	148.93	142.58	138.50	136.10
Treasury Stock - Common	-44.07	-44.07	-44.07	-44.60	-44.60
Other Equity, Total	-28.17	-25.61	-18.96	-20.33	-18.35
Total Equity	242.07	241.84	242.11	235.06	234.34
Total Liabilities & Shareholders' Equity	416.86	425.67	414.48	410.56	412.01
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	12.46	12.94	12.46	12.42	12.37

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	-	-	-	-
Short Term Investments	-	-	-	-
Cash and Short Term Investments	73.41	49.89	119.81	65.87
Accounts Receivable - Trade, Net	30.83	42.32	42.38	45.07
Receivables - Other	-	-	-	-
Total Receivables, Net	43.54	42.32	42.38	45.07
Total Inventory	125.08	132.40	144.50	158.03
Prepaid Expenses	9.08	11.92	10.51	13.50
Other Current Assets, Total	5.23	12.09	11.42	11.43
Total Current Assets	256.33	248.62	328.63	293.91
Property/Plant/Equipment, Total - Gross	209.04	202.29	197.39	195.28
Accumulated Depreciation, Total	-117.56	-115.29	-110.98	-105.74
Goodwill, Net	22.92	22.68	26.02	24.06
Intangibles, Net	13.95	12.10	12.84	14.13
Long Term Investments	8.61	8.21	7.83	-
Other Long Term Assets, Total	28.96	27.88	20.37	28.15
Total Assets	425.67	409.37	485.09	449.79
Accounts Payable	12.87	10.70	12.14	9.76
Accrued Expenses	27.75	27.31	27.86	24.35
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	0.58	0.65	2.46	0.54
Other Current liabilities, Total	12.43	11.31	11.32	12.05
Total Current Liabilities	53.62	49.98	53.78	46.70
Long Term Debt	67.43	67.37	152.05	157.70
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	67.43	67.37	152.05	157.70
Total Debt	68.01	68.02	154.51	158.24
Deferred Income Tax	0.56	2.44	3.76	7.12
Minority Interest	-	-	-	-
Other Liabilities, Total	62.21	57.00	46.88	41.77
Total Liabilities	183.82	176.78	256.47	253.29
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.01	0.01	0.01	0.01
Additional Paid-In Capital	162.58	161.00	154.40	125.19
Retained Earnings (Accumulated Deficit)	148.93	135.52	134.21	126.42
Treasury Stock - Common	-44.07	-44.66	-47.07	-47.27
Other Equity, Total	-25.61	-19.28	-12.94	-7.85
Total Equity	241.84	232.59	228.62	196.50
Total Liabilities & Shareholders' Equity	425.67	409.37	485.09	449.79
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	12.94	12.37	12.06	10.30

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	2.69	13.51	7.16	2.99	0.59
Depreciation/Depletion	2.34	9.09	6.77	4.47	2.26
Amortization	-	-	-	-	-
Deferred Taxes	0.10	1.50	0.27	-0.11	-0.08
Non-Cash Items	0.49	1.44	1.66	1.19	0.60
Changes in Working Capital	-15.49	3.18	-15.72	-18.19	-11.10
Cash from Operating Activities	-9.87	28.71	0.14	-9.65	-7.72
Capital Expenditures	-0.99	-7.03	-5.32	-3.43	-1.91
Other Investing Cash Flow Items, Total	0.03	0.21	0.14	0.08	0.05
Cash from Investing Activities	-0.96	-6.82	-5.18	-3.35	-1.86
Financing Cash Flow Items	0.00	0.01	0.08	0.02	0.02
Total Cash Dividends Paid	-	-	-	-	-
Issuance (Retirement) of Stock, Net	0.00	1.61	1.61	0.30	0.10
Issuance (Retirement) of Debt, Net	0.00	0.00	0.00	3.50	3.00
Cash from Financing Activities	0.00	1.62	1.69	3.81	3.12
Foreign Exchange Effects	-0.85	0.01	0.11	-0.24	0.24
Net Change in Cash	-11.68	23.52	-3.23	-9.43	-6.22
Cash Interest Paid, Supplemental	-	4.80	4.80	2.43	2.36
Cash Taxes Paid, Supplemental	-	7.76	6.46	4.63	2.99

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	13.51	1.63	7.90	5.34
Depreciation/Depletion	9.09	8.78	9.55	10.37
Amortization	-	-	-	-
Deferred Taxes	1.50	-5.19	-0.46	-1.68
Non-Cash Items	1.44	12.04	1.13	-0.32
Changes in Working Capital	3.18	5.32	17.54	10.21
Cash from Operating Activities	28.71	22.58	35.67	23.92
Capital Expenditures	-7.03	-6.94	-3.73	-4.55
Other Investing Cash Flow Items, Total	0.21	-3.26	-0.23	-0.80
Cash from Investing Activities	-6.82	-10.20	-3.96	-5.35
Financing Cash Flow Items	0.01	0.30	-0.06	0.00
Total Cash Dividends Paid	-	-	-	0.00
Issuance (Retirement) of Stock, Net	1.61	4.61	27.86	27.81
Issuance (Retirement) of Debt, Net	0.00	-88.35	-3.90	-24.95
Cash from Financing Activities	1.62	-83.44	23.90	2.86
Foreign Exchange Effects	0.01	1.14	-1.67	0.07
Net Change in Cash	23.52	-69.92	53.94	21.49
Cash Interest Paid, Supplemental	4.80	8.88	12.28	13.65
Cash Taxes Paid, Supplemental	7.76	6.73	7.43	5.74