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Stockholders' Equity (Tables)

3 Months Ended

Feb. 28, 2018

Schedule of basic and diluted per share results


	For the Three Months Ended
	Feb. 28, 2018		Feb. 28, 2017
Net loss	$	(1,723)	$	(939)

Weighted average shares outstanding for computation of basic per share results		5,001,000		5,040,000
Incremental shares from assumed exercise of Griffin stock options (a)		—		—
Adjusted weighted average shares for computation of diluted per share results		5,001,000		5,040,000

(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 2018 first quarter and 2017 first quarter would have been 39,000 and 23,000, respectively.

Schedule of options granted to employees


	For the Three Months Ended
	Feb. 28, 2018			Feb. 28, 2017
		Fair Value per			Fair Value per
	Number of	Option at		Number of	Option at
	Shares	Grant Date		Shares	Grant Date
Employees	-	$	-	5,000	$	11.13

Schedule of option holders


Number of option holders at February 28, 2018		30

Schedule of compensation expense and related tax benefits for stock options

Schedule of unrecognized compensation expense related to nonvested stock options


Balance of Fiscal 2018	$	250
Fiscal 2019	$	234
Fiscal 2020	$	112
Fiscal 2021	$	34

Summary of the activity under the Griffin Stock Option Plan


	For the Three Months Ended
	February 28, 2018			February 28, 2017
			Weighted			Weighted
			Avg.			Avg.
	Number of		Exercise	Number of		Exercise
	Shares		Price	Shares		Price
Outstanding at beginning of period	333,762	$	29.22	324,546	$	29.23
Granted	—	$	—	5,000	$	30.81
Exercised	(5,471)	$	34.04	—	$	—
Forfeited	(19,779)	$	33.95	—	$	—
Outstanding at end of period	308,512	$	28.83	329,546	$	29.25

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, 2018	Exercise Price		(in years)	Value
$23.00 - $28.00	124,293	$	26.67	7.7	$	1,205
$28.00 - $32.00	128,248	$	29.07	3.8		935
$32.00 - $39.00	55,971	$	33.11	1.0		182
	308,512	$	28.83	4.9	$	2,322

Schedule of accumulated other comprehensive loss


	For the Three Months Ended Feb. 28, 2018
			Unrealized gain
	Unrealized gain on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2017	$	(284)	$	—	$	(284)
Other comprehensive income before reclassifications		1,949		—		1,949
Amounts reclassified		192		—		192
Adoption of ASU 2018-02 - reclassification to retained earnings		(36)		—		(36)
Net activity for other comprehensive income		2,105		—		2,105
Balance February 28, 2018	$	1,821	$	—	$	1,821


	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)

Schedule of components of accumulated other comprehensive income (loss)


	For the Three Months Ended
	February 28, 2018						February 28, 2017
			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)	$	244	$	(52)	$	192	$	339	$	(130)	$	209
Total reclassifications included in net loss		244		(52)		192		339		(130)		209

Increase in fair value adjustments on Griffin’s cash flow hedges		2,502		(553)		1,949		332		(128)		204
Mark to market adjustment on Centaur Media for a decrease in the foreign currency exchange rate		—		—		—		(12)		4		(8)
Mark to market adjustment on Centaur Media for an increase in fair value		—		—		—		207		(72)		135
Total change in other comprehensive income		2,502		(553)		1,949		527		(196)		331

Other comprehensive income	$	2,746	$	(605)	$	2,141	$	866	$	(326)	$	540

For the Three Months Ended

Feb. 28, 2018

Feb. 28, 2017

Compensation expense

Related tax benefit