Neiman Marcus Group Inc
Neiman and peers Saks Inc
Neiman, a privately held operator of a namesake chain of upscale department stores and outlets, and of Bergdorf Goodman, posted net income of $40.1 million for the fiscal second quarter ended January 28, nearly double the $21 million of a year earlier.
For the full year, EBITDA -- which measures earnings before interest, taxes, depreciation and amortization and is the figure most closely watched by private equity companies looking to take a company public or sell it -- was $152.4 million, up 11.7 percent from the previous year.
Neiman also lowered its long term debt to $2.68 billion, from $2.88 billion a year earlier.
Neiman's revenue in the quarter rose to $1.28 billion from $1.17 billion a year earlier, helped by comparable sales gains of 9 percent at stores open for at least a year and online.
(Reporting By Phil Wahba in New York; Editing by Gerald E. McCormick)