Steinway Musical Instruments announced the results for the first quarter of 2013. Net sales for the first quarter of 2013 were lower compared to net sales for the first quarter of 2012. Net sales for the first quarter of 2013 totaled $76.8 million compared to net sales of $78.0 million for the first quarter of 2012.
Steinway Musical Instruments has Piano Operations and Band Operations. First quarter revenue for the piano operations totaled $45.4 million, a 2.9% increase over the prior-year quarter. A 13.5% increase in unit shipments of Steinway grand pianos in the Americas was offset by lower shipments in the European and Asia-Pacific regions, resulting in a 4.5% decrease as compared to the year-ago period.
Worldwide, unit shipments of Boston and Essex pianos rose 23.3% over the first quarter of 2012. The Boston pianos are made in Japan and Indonesia by Kawai. The Essex Pianos are made in China by Pearl River
