DISCONTINUED OPERATIONS

12 Months Ended

Sep. 30, 2011

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 6 — DISCONTINUED OPERATIONS

In 2008, as a result of the downturn in the residential housing market, Griffon exited substantially all operating activities of its Installation Services segment which sold, installed and serviced garage doors and openers, fireplaces, floor coverings, cabinetry and a range of related building products, primarily for the new residential housing market. Operating results of substantially all this segment has been reported as discontinued operations in the Consolidated Statements of Operations for all periods presented; the Installation Services segment is excluded from segment reporting.

In May 2008, Griffon’s Board of Directors approved a plan to exit substantially all operating activities of the Installation Services segment in 2008. In the third quarter of 2008, Griffon sold nine units to one buyer, closed one unit and merged two units into CBP. In the fourth quarter of 2008, Griffon sold its two remaining units in Phoenix and Las Vegas.

Griffon substantially concluded its remaining disposal activities in the second quarter of 2009. There was no reported revenue in 2011, 2010 and 2009.

The following amounts related primarily to the Installation Services segment have been segregated from Griffon’s continuing operations and are reported as assets and liabilities of discontinued operations in the consolidated balance sheets:

	At September 30, 2011				At September 30, 2010
	Current		Long-term		Current		Long-term
Assets of discontinued operations:
Prepaid and other current assets	$	1,381	$	—	$	1,079	$	—
Other long-term assets		—		3,675		—		5,803
Total assets of discontinued operations	$	1,381	$	3,675	$	1,079	$	5,803
Liabilities of discontinued operations:
Accounts payable	$	6	$	—	$	8	$	—
Accrued liabilities		3,788		—		4,281		—
Other long-term liabilities		—		5,786		—		8,446
Total liabilities of discontinued operations	$	3,794	$	5,786	$	4,289	$	8,446