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Fender Musical Instruments Corporation
Business Summary
Fender Musical Instruments Corporation is a privately-held manufacturer of guitars, basses, amplifiers and related equipment. Fender was founded in 1946 by Leo Fender, and is based out of Scottsdale, Arizona. Its notable guitars have been used by famous musicians such as Buddy Holly, Jimi Hendrix and Eric Clapton. In addition to guitar production, Fender sells banjos, ukuleles, mandolins, amplifiers, and accessories under brands such as Squier, Jackson, Guild, Ovation and Latin Percussion. Recognizable guitars include Fender's Strat and Telecaster models.
Recent News, Updates, and Analysis
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Following Quiet Retail Success, Fender Guitar's $200M IPO Makes Some Noise
Mar. 2012 Tech and social media seem to be the only IPO groups turning heads with more traditional IPO candidates like consumer branded goods largely ignored. But do they deserve the disproportionate attention? PrivCo, The Private Company Financial Data Authority, takes a closer look at the headline catching techies and gives due credit to some low-flying retail IPOs. … Read More »
Overview & Corporate Organization
Basic Information
| Company Tags: | PE Backed |
| Year Founded: | 1946 |
| Fiscal Year End: | 12/31 |
| 1YR Employee Growth Rate: | View % |
| 3YR Employee Growth Rate (CAGR): | View % |
| City: | Scottsdale |
| State/Province: | Arizona |
| Country: | United States |
| Phone: | View |
| Websites: | 85255 www.fender.com |
Corporate Organization
| Brands: | Guild Jackson Latin Percussion Ovation Squier |
| Founders: | Leo Fender |
Industry Information
PrivCo Industries (Sector > Industry > Sub-Industry)
| Consumer Products > Musical Equipment & Instruments > Guitar Manufacturers |
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Ownership
Charts, Financials, and Statistics (Table Format)
Copy & Paste Financials Into Spreadsheet or
| Income Statement | 2012 | 2011 | 2010 | 2009 |
| Net Sales Revenue | View | View | View | |
| Revenues | View | |||
| Cost of Goods Sold | View | View | View | |
| Gross Profit | View | View | View | |
| Selling, General and Administrative Expenses | View | View | View | |
| Research and Development Expense (Excluding In - Process) | View | View | View | |
| Asset Impairment Charges | View | View | View | |
| Operating Expense - Other | View | View | View | |
| Total Operating Expenses excluding costs | View | View | View | |
| Operating Income/(Loss) | View | View | View | |
| Interest Expense | View | View | View | |
| Foreign Currency Exchange Gains/(Losses) | View | View | View | |
| Non-operating Income - Other | View | View | View | |
| Non-operating Income/(Expense) | View | View | View | |
| Income/(Loss) from Continuing Operations Before Income Taxes | View | View | View | |
| Provision for Income Taxes | View | View | View | |
| Net Income (Loss) | View | View | View | |
| Redeemable Preferred Stock Dividends | View | View | View | |
| Net Income Applicable to Common Stockholders | View | View | View | |
| Comprehensive Foreign Currency Exchange Gains/(Losses) | View | View | View | |
| Total Comprehensive Net Income | View | View | View |
| Balance Sheet | 2011 | 2010 |
| Cash and Cash Equivalents | View | View |
| Net Accounts Receivable Trade | View | View |
| Net Income Taxes Receivable | View | View |
| Accounts Receivable - Related Parties | View | View |
| Net Inventories | View | View |
| Current Deferred Income Taxes | View | View |
| Prepaid Expenses | View | View |
| Current Assets | View | View |
| Net Property, Plant and Equipment | View | View |
| Goodwill | View | View |
| Intangible Assets (Excluding Goodwill) | View | View |
| Noncurrent Deferred Tax Assets | View | View |
| Noncurrent Other Assets | View | View |
| Assets | View | View |
| Accounts Payable | View | View |
| Accrued Expenses | View | View |
| Accrued Taxes | View | View |
| Current Portion of Long-Term Debt | View | View |
| Current Capital Lease Obligations | View | View |
| Current Liabilities | View | View |
| Long-Term Debt | View | View |
| Capital Lease Obligations - Long-Term | View | View |
| Deferred Tax Liability | View | View |
| Other Deferred Long Term Liability Charges | View | View |
| Noncurrent Other Liabilities | View | View |
| Liabilities | View | View |
| Redeemable Common Stock Obligation | View | View |
| Common Stock - Value (Excluding Additional Paid in Capital) | View | View |
| Common Class A - Value (Excluding Additional Paid in Capital) | View | View |
| Common Class B - Value (Excluding Additional Paid in Capital) | View | View |
| Additional Paid in Capital | View | View |
| Retained Earnings | View | View |
| Treasury Stock - Value | View | View |
| Other Accumulated Comprehensive Income, Net of Tax Effect | View | View |
| Stockholders' Equity | View | View |
| Liabilities and Stockholders' Equity | View | View |
| Cash Flow Statement | 2011 | 2010 | 2009 |
| Operating Activities Beginning Net Income | View | View | View |
| Amortization | View | View | View |
| Depreciation and Amortization | View | View | View |
| Total Adjustments to Provision for Doubtful Accounts | View | View | View |
| Asset Impairment Charges | View | View | View |
| Gain/(Loss) on Sale/Retirement of Property, Plant and Equipment | View | View | View |
| Tax Benefit from Exercise of Stock Options | View | View | View |
| Adjustment for Equity Based Compensation Expense | View | View | View |
| Adjustment Income/(Loss) from Equity Investments | View | View | View |
| Deferred Income Taxes | View | View | View |
| Change Accounts Receivable | View | View | View |
| Increase/(Decrease) in Accounts Receivable - Related Parties | View | View | View |
| Increase/(Decrease) in Inventories | View | View | View |
| Change Prepaid Expenses Other Current Assets | View | View | View |
| Deferred Income Taxes | View | View | View |
| Increase/(Decrease) in Other Non-operating Assets | View | View | View |
| Increase/(Decrease) in Accounts Payable and Accrued Expenses | View | View | View |
| Increase/(Decrease) in Other Non-operating Liabilities | View | View | View |
| Net Cash Flows Provided By/(Used In) Operating Activities | View | View | View |
| Purchase of Property, Plant and Equipment | View | View | View |
| Purchase Intangible Assets | View | View | View |
| Net Other Investing Activities | View | View | View |
| Net Cash Flows Provided By/(Used In) Investing Activities | View | View | View |
| Proceeds Debt | View | View | View |
| Repayments Debt | View | View | View |
| Excess Tax Benefit Stock Option Exercised | View | View | View |
| Loan Costs | View | View | View |
| Proceeds from Stock Options Exercised | View | View | View |
| Cash Provided by/(Used in) Financing Activities - Other | View | View | View |
| Net Cash Flows Provided By/(Used In) Financing Activities | View | View | View |
| Effect of Exchange Rate on Cash and Cash Equivalents | View | View | View |
| Increase/(Decrease) in Cash and Cash Equivalents | View | View | View |
| Cash and cash equivalents at the beginning of the year | View | View | View |
| Total Cash and cash equivalents at the end of the year | View | View | View |
| Income Taxes Paid | View | View | View |
| Cash Interest Expense | View | View | View |
| Supplemental Property Plant Equipment Acquired | View | View | View |
| Supplemental Other Net | View | View | View |
| Financial Notes: | |
| * | Fender Musical Instruments Corporation fiscal year end: 12/31 |
Charts, Financials, and Statistics (Graphs)
(Copy and paste into spreadsheet or export all Fender Musical Instruments Corporation financials to Excel and create your own graphs.)
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Fender Musical Instruments Corporation Net Sales Revenue ($ MM): |
Fender Musical Instruments Corporation Cost of Goods Sold ($ MM): |
Fender Musical Instruments Corporation Gross Profit ($ MM): |
Fender Musical Instruments Corporation Selling, General and Administrative Expenses ($ MM): |
Fender Musical Instruments Corporation Research and Development Expense (Excluding In - Process) ($ MM): |
Fender Musical Instruments Corporation Asset Impairment Charges ($ MM): |
Fender Musical Instruments Corporation Operating Expense - Other ($ MM): |
Fender Musical Instruments Corporation Total Operating Expenses excluding costs ($ MM): |
Fender Musical Instruments Corporation Operating Income/(Loss) ($ MM): |
Fender Musical Instruments Corporation Interest Expense ($ MM): |
Fender Musical Instruments Corporation Foreign Currency Exchange Gains/(Losses) ($ MM): |
Fender Musical Instruments Corporation Non-operating Income - Other ($ MM): |
Fender Musical Instruments Corporation Non-operating Income/(Expense) ($ MM): |
Fender Musical Instruments Corporation Income/(Loss) from Continuing Operations Before Income Taxes ($ MM): |
Fender Musical Instruments Corporation Provision for Income Taxes ($ MM): |
Fender Musical Instruments Corporation Net Income (Loss) ($ MM): |
Fender Musical Instruments Corporation Redeemable Preferred Stock Dividends ($ MM): |
Fender Musical Instruments Corporation Net Income Applicable to Common Stockholders ($ MM): |
Fender Musical Instruments Corporation Comprehensive Foreign Currency Exchange Gains/(Losses) ($ MM): |
Fender Musical Instruments Corporation Total Comprehensive Net Income ($ MM): |
Fender Musical Instruments Corporation Cash and Cash Equivalents ($ MM): |
Fender Musical Instruments Corporation Net Accounts Receivable Trade ($ MM): |
Fender Musical Instruments Corporation Net Income Taxes Receivable ($ MM): |
Fender Musical Instruments Corporation Accounts Receivable - Related Parties ($ MM): |
Fender Musical Instruments Corporation Net Inventories ($ MM): |
Fender Musical Instruments Corporation Current Deferred Income Taxes ($ MM): |
Fender Musical Instruments Corporation Prepaid Expenses ($ MM): |
Fender Musical Instruments Corporation Current Assets ($ MM): |
Fender Musical Instruments Corporation Net Property, Plant and Equipment ($ MM): |
Fender Musical Instruments Corporation Goodwill ($ MM): |
Fender Musical Instruments Corporation Intangible Assets (Excluding Goodwill) ($ MM): |
Fender Musical Instruments Corporation Noncurrent Deferred Tax Assets ($ MM): |
Fender Musical Instruments Corporation Noncurrent Other Assets ($ MM): |
Fender Musical Instruments Corporation Assets ($ MM): |
Fender Musical Instruments Corporation Accounts Payable ($ MM): |
Fender Musical Instruments Corporation Accrued Expenses ($ MM): |
Fender Musical Instruments Corporation Accrued Taxes ($ MM): |
Fender Musical Instruments Corporation Current Portion of Long-Term Debt ($ MM): |
Fender Musical Instruments Corporation Current Capital Lease Obligations ($): |
Fender Musical Instruments Corporation Current Liabilities ($ MM): |
Fender Musical Instruments Corporation Long-Term Debt ($ MM): |
Fender Musical Instruments Corporation Capital Lease Obligations - Long-Term ($): |
Fender Musical Instruments Corporation Deferred Tax Liability ($): |
Fender Musical Instruments Corporation Other Deferred Long Term Liability Charges ($): |
Fender Musical Instruments Corporation Noncurrent Other Liabilities ($): |
Fender Musical Instruments Corporation Liabilities ($ MM): |
Fender Musical Instruments Corporation Redeemable Common Stock Obligation ($ MM): |
Fender Musical Instruments Corporation Common Class A - Value (Excluding Additional Paid in Capital) ($): |
Fender Musical Instruments Corporation Common Class B - Value (Excluding Additional Paid in Capital) ($): |
Fender Musical Instruments Corporation Retained Earnings ($ MM): |
Fender Musical Instruments Corporation Treasury Stock - Value ($ MM): |
Fender Musical Instruments Corporation Other Accumulated Comprehensive Income, Net of Tax Effect ($ MM): |
Fender Musical Instruments Corporation Stockholders' Equity ($ MM): |
Fender Musical Instruments Corporation Liabilities and Stockholders' Equity ($ MM): |
Fender Musical Instruments Corporation Operating Activities Beginning Net Income ($ MM): |
Fender Musical Instruments Corporation Amortization ($ MM): |
Fender Musical Instruments Corporation Depreciation and Amortization ($ MM): |
Fender Musical Instruments Corporation Total Adjustments to Provision for Doubtful Accounts ($ MM): |
Fender Musical Instruments Corporation Asset Impairment Charges ($ MM): |
Fender Musical Instruments Corporation Gain/(Loss) on Sale/Retirement of Property, Plant and Equipment ($): |
Fender Musical Instruments Corporation Tax Benefit from Exercise of Stock Options ($): |
Fender Musical Instruments Corporation Adjustment for Equity Based Compensation Expense ($ MM): |
Fender Musical Instruments Corporation Adjustment Income/(Loss) from Equity Investments ($): |
Fender Musical Instruments Corporation Deferred Income Taxes ($ MM): |
Fender Musical Instruments Corporation Change Accounts Receivable ($ MM): |
Fender Musical Instruments Corporation Increase/(Decrease) in Accounts Receivable - Related Parties ($ MM): |
Fender Musical Instruments Corporation Increase/(Decrease) in Inventories ($ MM): |
Fender Musical Instruments Corporation Change Prepaid Expenses Other Current Assets ($ MM): |
Fender Musical Instruments Corporation Deferred Income Taxes ($ MM): |
Fender Musical Instruments Corporation Increase/(Decrease) in Other Non-operating Assets ($): |
Fender Musical Instruments Corporation Increase/(Decrease) in Accounts Payable and Accrued Expenses ($ MM): |
Fender Musical Instruments Corporation Increase/(Decrease) in Other Non-operating Liabilities ($): |
Fender Musical Instruments Corporation Net Cash Flows Provided By/(Used In) Operating Activities ($ MM): |
Fender Musical Instruments Corporation Purchase of Property, Plant and Equipment ($ MM): |
Fender Musical Instruments Corporation Purchase Intangible Assets ($ MM): |
Fender Musical Instruments Corporation Net Other Investing Activities ($): |
Fender Musical Instruments Corporation Net Cash Flows Provided By/(Used In) Investing Activities ($ MM): |
Fender Musical Instruments Corporation Proceeds Debt ($ MM): |
Fender Musical Instruments Corporation Repayments Debt ($ MM): |
Fender Musical Instruments Corporation Excess Tax Benefit Stock Option Exercised ($): |
Fender Musical Instruments Corporation Loan Costs ($): |
Fender Musical Instruments Corporation Proceeds from Stock Options Exercised ($ MM): |
Fender Musical Instruments Corporation Cash Provided by/(Used in) Financing Activities - Other ($): |
Fender Musical Instruments Corporation Net Cash Flows Provided By/(Used In) Financing Activities ($ MM): |
Fender Musical Instruments Corporation Effect of Exchange Rate on Cash and Cash Equivalents ($): |
Fender Musical Instruments Corporation Increase/(Decrease) in Cash and Cash Equivalents ($ MM): |
Fender Musical Instruments Corporation Cash and cash equivalents at the beginning of the year ($ MM): |
Fender Musical Instruments Corporation Total Cash and cash equivalents at the end of the year ($ MM): |
Fender Musical Instruments Corporation Income Taxes Paid ($ MM): |
Fender Musical Instruments Corporation Cash Interest Expense ($ MM): |
Fender Musical Instruments Corporation Supplemental Property Plant Equipment Acquired ($ MM): |
Fender Musical Instruments Corporation Total Employees: |
Mergers & Acquisitions
| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | Nov. 1995 | Completed | Guild Guitars | Fender Musical Instruments Corporation | Acquisition | Unspecified |
| Details | Oct. 2002 | Completed | Jackson/Charvel Guitar Company | Fender Musical Instruments Corporation | Acquisition | Unspecified |
| Details | Jun. 2003 | Completed | SWR Sound Corporation | Fender Musical Instruments Corporation | Acquisition | $8,000,000 |
| Details | Oct. 2004 | Completed | Tacoma Guitar Company | Fender Musical Instruments Corporation | Acquisition | Unspecified |
| Details | Oct. 2007 | Completed | View1 | View | Acquisition | View |
| Details | Jun. 2008 | Completed | View2 | View | Acquisition Asset Sale | View |
| 1 | Fender's largest acquisition to...Read More → |
| 2 | Fender acquired...Read More → |
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Public / Private History (PPH™)
| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Jul. 2012 | View | View | View | View | View | View |
Detailed Business Description: Fender Musical Instruments Corporation
Fender's Business Model
Fender is the largest guitar seller in the United States. Fender's comprehensive portfolio of brands are led by the Fender brand and other brands such as Squire, Jackson, Guild, Ovation and Latin Percussion, in addition to Gretsch, EVH and Takamine which Fender is the licensee. The product portfolio of the company includes fretted instruments (electric, acoustic and bass guitars, banjos, ukuleles, mandolins and resonator guitars), guitar amplifiers, percussion instruments and accessories.
Fender's sells its guitars through direct-to-retail sales channels. In 2011, Fender guitar sales were through independent dealers, national, merchant or online dealers, and third party dealer. Fender does not have standalone stores.
Fender's product line covers 73% of instruments within the global musical instrument market. During 2011, 59.9% of gross sales were generated from the sale of strung instruments, 12.1% from guitar amplifiers, 9.1% from percussion and 18.9% from… Continue Reading →
Supplemental Resources
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