2 % from 27.7% * Income from operations of $23 million, up 72% * Adjusted EBITDA of $32 million, up 21% * Adjusted earnings per share increased to $0.67 from $0.42 Full year Adjustments are detailed in the attached financial tables Balance Sheet Highlights * Gash of $120 million * Inventory reduced 9% from December 2009 Piano Operations Domestically, demand continued to rebound in the fourth quarter. Piano gross margins improved in the quarter as a result of a higher mix of retail sales and steady production schedules at both piano facilities.
Financial Steinway Reports Qu
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