Neiman Marcus Inc reported financial results for the fourth quarter and fiscal year 2006. On October 6, 2005, the Company announced the completion of the acquisition of Neiman Marcus Inc by an investor group led by Texas Pacific Group and Warburg Pincus LLC.
The accompanying consolidated statements of earnings and related information present the Company's results of operations for the period preceding the acquisition (Predecessor) and the period succeeding the acquisition (Successor).
The results of operations for the fiscal year have been prepared by comparing the mathematical combination of the Successor and Predecessor periods in the 52 weeks ended July 29, 2006 to the results of the Predecessor for the 52 weeks ended July 30, 2005.
The presentation does not comply with generally accepted accounting principles, but the Company believes that it provides a more meaningful method of comparison.
For further information related to the Company's financial results, refer to the Company's Form 10-K and other information available from the Securities and Exchange Commission.
Neiman Marcus Inc believes reporting adjusted operating reporting internally to evaluate and manage the Company's operations.
For the fourth quarter of fiscal year 2006, the Company reported total revenues of $915.5 million compared to $839.8 million in the prior year. Comparable revenues increased 6.6 percent.
Operating earnings for the fourth quarter of fiscal 2006 were $20.7 million compared to $46.8 million for the fourth quarter of fiscal year 2005.
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