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TheStreet Open House

Steinway Musical Instruments, Inc. Q1 2010 Earnings Call Transcript

Steinway Musical Instruments, Inc. (LVB)

Q1 2010 Earnings Call Transcript

May 10, 2010 11:00 am ET

Executives

Dana Messina – CEO

Dennis Hanson – Senior EVP

Donna Lucente – Corporate Controller

Analysts

Arnold Ursaner – CJS Securities

Paul Sonkin – The Hummingbird Value Fund

Rick D’Auteuil – Columbia Management

Presentation

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the first quarter 2010 earnings release conference call for Steinway Musical Instruments. My name is Rosa. I will be your conference coordinator for today. At this time all participants are in a listen-only mode. (Operator instructions) As a reminder, today’s conference call is being recorded for replay purposes.

This morning, the company issued a press release disclosing financial results for the quarter end March 31, 2010. If you have not received a copy, you may download it from the news section of the Company’s Web site, www.steinwaymusical.com.

Today’s call will begin with a reading of the Safe Harbor statement, which will be followed by remarks by Dana Messina, Chief Executive Officer, Mr. Messina will be joined by Dennis Hanson, Chief Financial Officer, and Donna Lucente, Corporate Controller, for the question-and-answer session.

Today's call contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those indicated today. For further information on the risk factors is included in the Company’s latest earning release and filings with the SEC.

Today’s presentation will include the term ‘EBITDA’ as well as other adjusted financial measurements. All of which are considered to be non-GAAP terms. These measures present operating results on basis excluding certain non-comparable items. Reconciliations of these measures to the most comparable GAAP terms are available on the Company’s Web site.

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