Griffon Corp. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Griffon Corp. (GFF) announced earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $56.76 million, or $1.21 per share. This compares with $64.14 million, or $1.28 per share, last year.

Excluding items, Griffon Corp. reported adjusted earnings of $57.60 million or $1.23 per share for the period.

Analysts on average had expected the company to earn $1.09 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 9.1% to $611.75 million from $672.88 million last year.

Griffon Corp. earnings at a glance (GAAP) :

-Earnings: $56.76 Mln. vs. $64.14 Mln. last year. -EPS: $1.21 vs. $1.28 last year. -Revenue: $611.75 Mln vs. $672.88 Mln last year.