Neiman Marcus 2005 Annual Report Download - page 141

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NOTE 19. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Fiscal year 2006
Nine weeks
ended
October 1,
2005
Four
weeks ended
October 29,
2005
Second
Quarter
Third
Quarter
Fourth
Quarter Total
(Predecessor) (Successor)
Revenues $ 643.4 $ 319.6 $ 1,217.6 $ 1,009.6 $ 915.4 $ 4,105.6
Gross profit (1) $ 265.1 $ 124.8 $ 382.1 $ 409.1 $ 287.1 $ 1,468.2
Earnings from continuing
operations $ 44.5 $ 10.8 $ 2.7 $ 40.3 $ (27.5 )
(Loss) earnings from discontinued
operation, net of tax $ (0.3 ) $ 0.1 $ 0.3 $ 0.2 $ (14.5 )$
Net earnings $ 44.2 (2) $ 10.9 $ 3.0 $ 40.5 $ (42.0 )(3) $
Fiscal year 2005
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
(Predecessor)
Revenues $ 896.2 $ 1,118.1 $ 920.7 $ 839.8 $ 3,774.8
Gross profit (1) $ 365.0 $ 381.7 $ 371.6 $ 266.2 $ 1,384.5
Earnings from continuing
operations $ 64.1 $ 70.2 $ 79.8 $ 33.9 $ 248.0
Earnings from discontinued
operation, net of tax $ 0.0 $ 0.4 $ 0.0 $ 0.4 $ 0.8
Net earnings $ 64.1(4) $ 70.6 $ 79.8 $ 34.3(5) $ 248.8
(1) Gross profit includes revenues less cost of goods sold including buying and occupancy costs (excluding depreciation).
(2) For the nine weeks ended October 1, 2005, net earnings includes $23.5 million of pretax transaction and other costs incurred in
connection with the Transactions. These costs consist primarily of $4.5 million of accounting, investment banking, legal and
other costs associated with the Transactions and a $19.0 million non-cash charge for stock compensation resulting from the
accelerated vesting of Predecessor stock options and restricted stock in connection with the Acquisition.
(3) For the fourth quarter of fiscal year 2006, net earnings include a loss from discontinued operation of $13.9 million which
includes $13.3 million of income tax expense related to the excess of the tax over book gain realized in connection with the
Gurwitch Disposition.
(4) Net earnings for the first quarter of fiscal year 2005 includes a pretax loss of $15.3 million related to the disposition of Chef's
Catalog.
(5) Net earnings for the fourth quarter of fiscal year 2005 includes a pretax gain of $6.2 million related to the sale of our credit card
portfolio, tax benefits aggregating $7.6 million related to favorable settlements associated with previous state tax filings and
reductions in previously recorded deferred tax liabilities.
F-57