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Article: Baldwin Piano Reports Second-Quarter Results.
- Article from:
- Business Wire
- Article date:
- July 23, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOVELAND, Ohio--(BUSINESS WIRE)--July 23, 1997--
Core Music Sales Up 17% Before Addition of Consignment Sales
Major Structural Improvements in Manufacturing
Will Benefit Second Half
Baldwin Piano and Organ Company (NASDAQ:BPAO) today announced second-quarter net income of $1,642,000, or 48 cents per share, compared with $750,000, or 22 cents per share, a year ago.
Baldwin's previously disclosed decision to phase-out its consignment inventory program accelerated sales and reduced inventory, adding $2.3 million, or 67 cents per share, to second-quarter net income. This gain was partially ...