Neiman Marcus 2003 Annual Report Download - page 69
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NOTE 15. Quarterly Financial Information (Unaudited)
Year Ended July 31, 2004
(in millions, except for
per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Revenues $ 824.9 $ 1,054.1 $ 877.6 $ 789.0 $ 3,545.6
Gross profit $ 316.5 $ 337.0 $ 334.3 $ 236.7 $ 1,224.4
Net earnings $ 56.2 $ 59.2(1)$ 68.8 $ 20.6(2)$ 204.8
Earnings per share:
Basic $ 1.18 $ 1.23 $ 1.43 $ 0.43 $ 4.27
Diluted $ 1.16 $ 1.21 $ 1.40 $ 0.42 $ 4.19
Year Ended August 2, 2003
(in millions, except for
per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Revenues $ 734.1 $ 938.5 $ 722.9 $ 702.7 $ 3,098.1
Gross profit 280.2 283.9 259.2 201.3 1,024.5
Earnings before change in accounting
principle 43.3 32.5 41.1 7.2 124.1
Change in accounting principle (14.8)— — — (14.8)
Net earnings $ 28.5 $ 32.5 $ 41.1 $ 7.2 $ 109.3
Basic earnings per share:
Earnings before change in accounting
principle $ 0.91 $ 0.68 $ 0.87 $ 0.15 $ 2.61
Change in accounting principle (0.31)— — — (0.31)
Basic earnings per share $ 0.60 $ 0.68 $ 0.87 $ 0.15 $ 2.30
Diluted earnings per share:
Earnings before change in accounting
principle $ 0.90 $ 0.68 $ 0.87 $ 0.15 $ 2.60
Change in accounting principle (0.31)— — — (0.31)
Diluted earnings per share $ 0.59 $ 0.68 $ 0.87 $ 0.15 $ 2.29
(1) Net earnings for the second quarter of 2004 reflect a $7.5 million net income tax benefit related to favorable settlements
associated with previous state tax filings.
(2) Net earnings for the fourth quarter of 2004 include a $3.9 million pretax impairment charge related to the writedown to fair
value in the net carrying value of the Chef's Catalog tradename intangible asset.
F-30