The Neiman Marcus Group Inc reported financial results for the third quarter of fiscal year 2006. On October 6, 2005, the Company announced the completion of the acquisition of Neiman Marcus 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-to-date period have been prepared by comparing the mathematical combination of the Successor and Predecessor periods in the 39 weeks ended April 29, 2006 to the results of the Predecessor for the 39 weeks ended April 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-Q and other information available from the Securities and Exchange Commission.
The Neiman Marcus Group Inc believes reporting adjusted operating earnings is a more meaningful representation of the Company's on-going economic performance and therefore uses adjusted reporting internally to evaluate and manage the Company's operations. Adjusted operating earnings exclude the impact of certain items as described below under “Other Items”.
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