WARRANTY LIABILITY

9 Months Ended

Jun. 30, 2011

Product Warranty Disclosure [Text Block]

NOTE 18 – WARRANTY LIABILITY

Telephonics offers warranties against product defects for periods ranging from one to two years, with certain products having a limited lifetime warranty, depending on the specific product and terms of the customer purchase agreement. Typical warranties require Telephonics to repair or replace the defective products during the warranty period at no cost to the customer. For Home & Building Products and Telephonics, at the time revenue is recognized, a liability is recorded for warranty costs, estimated based on historical experience; the Segment periodically assesses its warranty obligations and adjusts the liability as necessary. ATT offers an express limited warranty for a period of ninety days, from the date of original purchase, on all products unless otherwise stated on the product or packaging.

Changes in Griffon’s warranty liability, included in Accrued liabilities, were as follows:

	Three Months Ended June 30,						Nine Months Ended June 30,
	2011			2010			2011			2010
Balance, beginning of period	$	5,681		$	4,760		$	5,896		$	5,707
Warranties issued and charges in estimated pre-existing warranties		779			1,235			2,159			2,554
Actual warranty costs incurred		(911	)		(1,153	)		(2,506	)		(3,419	)
Balance, end of period	$	5,549		$	4,842		$	5,549		$	4,842