Neiman Marcus 2006 Annual Report Download - page 162

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NOTE 20. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Fiscal year 2007
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
(Successor)
Revenues $ 1,039.2 $ 1,295.8 $ 1,073.4 $ 981.7 $ 4,390.1
Gross profit (1) $ 432.4 $ 445.6 $ 445.5 $ 312.8 $ 1,636.3
Earnings from continuing operations
(2) $ 51.4 $ 38.2 $ 60.9 $ (15.9 )$ 134.7
(Loss) earnings from discontinued
operations, net of tax $ (24.2 )$ 2.8 $ (1.4 )$ 0.0 $ (22.8
Net earnings $ 27.2 $ 41.0 $ 59.5 $ (15.9 )$ 111.9
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 $ 632.4 $ 313.8 $ 1,194.5 $ 992.3 $ 897.1 $ 4,030.1
Gross profit (1) $ 260.8 $ 122.3 $ 372.3 $ 403.0 $ 280.7 $ 1,439.1
Earnings from continuing
operations $ 45.0 $ 10.6 $ 2.0 $ 41.0 $ (27.2 )$
(Loss) earnings from discontinued
operations, net of tax $ (0.8 ) $ 0.2 $ 1.0 $ (0.4 )$ (14.8 )$
Net earnings $ 44.2 (3) $ 10.8 $ 3.0 $ 40.6 $ (42.0 )$
(1) Gross profit includes revenues less cost of goods sold including buying and occupancy costs (excluding depreciation).
(2) For fiscal year 2007, earnings from continuing operations includes 1) $11.5 million pretax impairment charge related to the
writedown to fair value in the net carrying value of the Horchow tradename recorded in the fourth quarter, offset by 2) $4.2
million of other income we received in connection with the merger of Wedding Channel.com, in which we held a minority
interest, and The Knot recorded in the first quarter and 3) $6.0M of other income related to aged, non-escheatable gift cards
recorded in the fourth quarter.
(3) 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.
F-62