Neiman Marcus 2008 Annual Report Download - page 138

Table of Contents
NOTE 19. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Fiscal year 2009
(in millions)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Revenues $ 985.8 $ 1,079.4 $ 810.1 $ 768.0 $ 3,643.3
Gross profit (1) $ 368.0 $ 258.0 $ 295.3 $ 185.3 $ 1,106.6
Net earnings (loss) (2) $ 12.9 $ (509.2 )$ (3.1 )$ (168.6 )$ (668.0 )
Fiscal year 2008
Revenues $ 1,132.2 $ 1,373.8 $ 1,062.2 $ 1,032.3 $ 4,600.5
Gross profit (1) $ 465.1 $ 460.6 $ 425.2 $ 314.7 $ 1,665.6
Net earnings (loss) (3) $ 78.8 $ 44.3 $ 55.4 $ (35.7 )$ 142.8
(1) Gross profit includes revenues less cost of goods sold including buying and occupancy costs (excluding depreciation).
(2) For fiscal year 2009, net earnings (loss) include pretax impairment charges related to 1) $291.1 million for the writedown to
fair value of goodwill, 2) $242.2 million for the writedown to fair value of the net carrying value of tradenames and 3) $26.8
million for the writedown to fair value of the net carrying value of certain long-lived assets recorded in the second quarter. In
addition, pretax impairment charges of 1) $38.6 million for the writedown to fair value of goodwill, 2) $101.0 million for the
writedown to fair value of the net carrying value of tradenames and 3) $3.5 million for the writedown to fair value of the net
carrying value of certain long-lived assets were recorded in the fourth quarter.
(3) For fiscal year 2008, net earnings (loss) include 1) $32.5 million of other income related to a pension curtailment gain in the
first quarter as a result of our decision to freeze certain Pension and SERP benefits as of December 31, 2007, offset by 2)
$31.3 million pretax impairment charge related to the writedown to fair value of the Horchow tradename in the fourth
quarter.
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