Griffon Corp (GFF) Tops Q3 EPS by 1c; Approves $50M Stock Buyback

Griffon Corporation Announces $50mm Share Buyback Authorization

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Griffon Corporation (NYSE: GFF) (the Company or Griffon) authorized the repurchase of an additional $50 million of Griffons outstanding common stock. Prior to this authorization and after giving effect to the purchase of 64,706 shares for a total of $1.1 million in the current quarter through and including August 2, 2016, $14.6 million was available from the July 2015 authorization. Accordingly, Griffon now has a total of $64.6 million available for the purchase of its shares of common stock.

From August 2011 to June 30, 2016, Griffon repurchased 15,020,853 shares of common... More

Griffon Corporation Announces Third Quarter Results

NEW YORK--(BUSINESS WIRE)-- Griffon Corporation (Griffon or the Company) (NYSE: GFF) today reported results for the fiscal third quarter ended June 30, 2016.

Net income was $7.6 million, or $0.18 per share, compared to $10.9 million, or $0.23 per share, in the prior year quarter. Excluding restructuring charges and discrete tax items, adjusted net income was $11.0 million, or $0.26 per share, compared to $10.6 million or $0.23 per share in the prior year quarter. The impact of foreign currency was not material.

Revenue was $462.2 million, a decrease of 10% from the prior year quarter; excluding the unfavorable impact of foreign currency, revenue decreased 9%. Telephonics... More

Griffon Corporation Declares Quarterly Dividend

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Griffon Corporation (NYSE: GFF) (the Company or Griffon) declared a regular quarterly cash dividend of $0.05 per share. The dividend is payable on September 22, 2016 to shareholders of record as of the close of business on August 25, 2016.

About Griffon Corporation

Griffon Corporation is a diversified management and holding company conducting business through wholly-owned subsidiaries. Griffon oversees... More