Industry Segment Information

9 Months Ended

Sep. 01, 2012

Industry Segment Information

Industry Segment Information

3.Industry Segment Information

Griffin defines its reportable segments by their products and services, which are comprised of the real estate and landscape nursery segments.  Management operates and receives reporting based upon these segments.  Griffin has no operations outside the United States.  Griffin’s export sales and transactions between segments are not material.

	For the 13 Weeks Ended,						For the 39 Weeks Ended,
	September 1, 2012			August 27, 2011			September 1, 2012			August 27, 2011
Total net sales and other revenue:
Rental revenue and property sales	$	9,866		$	5,044		$	18,755		$	13,888
Landscape nursery net sales and other revenue	2,681			2,969			11,139			12,414
	$	12,547		$	8,013		$	29,894		$	26,302
Operating profit (loss):
Real estate	$	5,498		$	1,301		$	7,138		$	2,241
Landscape nursery	(468		)	(683		)	(1,075		)	(1,803		)
Industry segment totals	5,030			618			6,063			438
General corporate expense	(1,018		)	(532		)	(3,381		)	(3,133		)
Operating profit (loss)	4,012			86			2,682			(2,695		)
Interest expense	(817		)	(1,061		)	(2,522		)	(3,193		)
Investment income	10			14			479			105
Income (loss) before income tax (provision) benefit	$	3,205		$	(961	)	$	639		$	(5,783	)

The above table reflects the net sales and other revenue and operating profit (loss) included in continuing operations on Griffin’s consolidated statements of operations.  Operating results of the Manchester, Connecticut warehouse and the gain on the sale of that building are included in the results of the discontinued operation on Griffin’s consolidated statements of operations (see Note 2).

Continuing operations of the real estate segment in the 2012 third quarter and 2012 nine month period includes property sales revenue of $5,360 (see Note 6). Continuing operations of the real estate segment in the 2011 third quarter and 2011 nine month period includes property sales revenue of $400. In fiscal 2009, Imperial shut down operations on its Florida farm and entered into a lease with another grower for that property. Other revenue of the landscape nursery segment includes revenue from the rental of Imperial’s Florida farm as follows:

	For the 13 Weeks Ended,				For the 39 Weeks Ended,
	September 1, 2012		August 27, 2011		September 1, 2012		August 27, 2011
Rental revenue from Imperial’s Florida farm	$	117	$	117	$	352	$	352

	September 1, 2012		December 3, 2011
Identifiable assets:
Real estate	$	143,479	$	140,409
Landscape nursery	21,058		21,303
Industry segment totals	164,537		161,712
General corporate	16,070		14,963
Total assets	$	180,607	$	176,675