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Stockholders' Equity (Tables)

3 Months Ended

Feb. 28, 2017

Schedule of basic and diluted per share results


	For the Three Months Ended
	Feb. 28, 2017		Feb. 29, 2016
Net loss	$	(939)	$	(335)

Weighted average shares outstanding for computation of basic per share results		5,040,000		5,153,000
Incremental shares from assumed exercise of Griffin stock options (a)		—		—
Adjusted weighted average shares for computation of diluted per share results		5,040,000		5,153,000

(a)

Incremental shares from the assumed exercise of Griffin stock options are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options for the 2017 first quarter and the 2016 first quarter would have been 23,000 and 1,000, respectively.

Schedule of options granted to employees

For the Three Months Ended

Feb. 28, 2017

Feb. 29, 2016

Fair Value per

Number of

Option at

Number of

Option at

Grant Date

Employees

5,000

11.13

Schedule of assumptions used in determining fair values of options


	For the Three Months Ended
	Feb. 28, 2017		Feb. 29, 2016
Expected volatility	32.7	%	—
Risk free interest rates	2.1	%	—
Expected option term (in years)	7.5		—
Annual dividend yield	0.9	%	—

Schedule of option holders


Number of option holders at February 28, 2017		32

Schedule of compensation expense and related tax benefits for stock options


	For the Three Months Ended
	Feb. 28, 2017		Feb. 29, 2016
Net compensation expense	$	82	$	71

Net related tax benefit	$	20	$	12

Schedule of unrecognized compensation expense related to nonvested stock options


Balance of Fiscal 2017	$	243
Fiscal 2018	$	296
Fiscal 2019	$	215
Fiscal 2020	$	113
Fiscal 2021	$	33
Fiscal 2022	$	1

Summary of the activity under the Griffin Stock Option Plan


	For the Three Months Ended
	February 28, 2017			February 29, 2016
			Weighted			Weighted
			Avg.			Avg.
	Number of		Exercise	Number of		Exercise
	Shares		Price	Shares		Price
Outstanding at beginning of period	324,546	$	29.23	225,727	$	30.47
Granted	5,000	$	30.81	—	$	—
Outstanding at end of period	329,546	$	29.25	225,727	$	30.47

Schedule of options by range of exercise prices


				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Vested and Nonvested Options	February 28, 2017	Exercise Price		(in years)	Value
$23.00 - $28.00	124,793	$	26.67	8.7	$	547
$28.00 - $32.00	121,678	$	28.99	4.5		252
$32.00 - $39.00	83,075	$	33.52	1.6		—
	329,546	$	29.25	5.4	$	799

Schedule of accumulated other comprehensive loss


	For the Three Months Ended Feb. 28, 2017
			Unrealized gain
	Unrealized loss on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2016	$	(1,062)	$	13	$	(1,049)
Other comprehensive income before reclassifications		204		127		331
Amounts reclassified		209		—		209
Net activity for other comprehensive loss		413		127		540
Balance February 28, 2017	$	(649)	$	140	$	(509)


	For the Three Months Ended Feb. 29, 2016
			Unrealized gain
	Unrealized loss on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2015	$	(1,744)	$	659	$	(1,085)
Other comprehensive loss before reclassifications		(1,141)		(256)		(1,397)
Amounts reclassified		213		—		213
Net activity for other comprehensive loss		(928)		(256)		(1,184)
Balance February 29, 2016	$	(2,672)	$	403	$	(2,269)

Schedule of components of accumulated other comprehensive income (loss)


	For the Three Months Ended
	February 28, 2017						February 29, 2016
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassifications included in net loss:
Loss on cash flow hedges (interest expense)	$	339	$	(130)	$	209	$	338	$	(125)	$	213
Total reclassifications included in net loss		339		(130)		209		338		(125)		213

Mark to market adjustment on Centaur Media for a decrease in the foreign currency exchange rate		(12)		4		(8)		(128)		45		(83)
Mark to market adjustment on Centaur Media for an increase (decrease) in fair value		207		(72)		135		(265)		92		(173)
Increase (decrease) in fair value adjustments on Griffin’s cash flow hedges		332		(128)		204		(1,812)		671		(1,141)

Total change in other comprehensive income (loss)		527		(196)		331		(2,205)		808		(1,397)

Other comprehensive income (loss)	$	866	$	(326)	$	540	$	(1,867)	$	683	$	(1,184)