Griffon Corp. Q4 Profit Increases, Beats Estimates

(RTTNews) - Griffon Corp. (GFF) announced a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $62.49 million, or $1.29 per share. This compares with $41.97 million, or $0.79 per share, in last year's fourth quarter.

Excluding items, Griffon Corp. reported adjusted earnings of $70.94 million or $1.47 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.9% to $659.67 million from $641.39 million last year.

Griffon Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $62.49 Mln. vs. $41.97 Mln. last year. -EPS (Q4): $1.29 vs. $0.79 last year. -Revenue (Q4): $659.67 Mln vs. $641.39 Mln last year.