BUSINESS SEGMENTS

3 Months Ended

Dec. 31, 2011

Segment Reporting Disclosure [Text Block]

NOTE 11 – BUSINESS SEGMENTS

Griffon’s reportable business segments are as follows:

• HBP is a leading manufacturer and marketer of residential, commercial and industrial garage doors to professional installing dealers and major home center retail chains, as well as a global provider of non-powered landscaping products that make work easier for homeowners and professionals.

• Telephonics develops, designs and manufactures high-technology integrated information, communication and sensor system solutions to military and commercial markets worldwide.

• Plastics is an international leader in the development and production of embossed, laminated and printed specialty plastic films used in a variety of hygienic, health-care and industrial applications.

Griffon evaluates performance and allocates resources based on each segments’ operating results before interest income or expense, income taxes, depreciation and amortization, gain (losses) from debt extinguishment, unallocated amounts, restructuring charges and costs related to the fair value of inventory for acquisitions. Griffon believes this information is useful to investors. The following tables provide a reconciliation of Segment profit and Segment profit before depreciation, amortization, restructuring and fair value write-up of acquired inventory sold and acquisition costs to Income before taxes and discontinued operations:

	For the Three Months Ended December 31,
	2011			2010
REVENUE
Home & Building Products:
ATT	$	98,741		$	94,197
CBP		111,647			104,066
Home & Building Products		210,388			198,263
Telephonics		104,513			98,279
Plastics		136,130			117,860
Total consolidated net sales	$	451,031		$	414,402
	For the Three Months Ended December 31,
	2011			2010
INCOME (LOSS) BEFORE TAXES
Segment operating profit (loss):
Home & Building Products	$	9,834		$	(1,623	)
Telephonics		12,515			10,693
Plastics		1,880			4,142
Total segment operating profit		24,229			13,212
Unallocated amounts		(6,335	)		(5,106	)
Net interest expense		(13,000	)		(11,154	)
Income (loss) before taxes	$	4,894		$	(3,048	)
Segment profit before depreciation, amortization, restructuring, fair value write-up of acquired inventory sold and acquisition costs:
Home & Building Products	$	17,750		$	17,534
Telephonics		15,690			12,406
Plastics		8,180			9,786
Total Segment profit before depreciation, amortization, restructuring, fair value write-up of acquired inventory sold and acquisition costs		41,620			39,726
Unallocated amounts, less acquisition costs		(6,335	)		(5,106	)
Net interest expense		(13,000	)		(11,154	)
Segment depreciation and amortization		(15,418	)		(13,757	)
Restructuring charges		(1,795	)		(1,393	)
Fair value write-up of acquired inventory sold		—			(11,364	)
Acquisition costs		(178	)		—
Income (loss) before taxes	$	4,894		$	(3,048	)

Unallocated amounts typically include general corporate expenses not attributable to a reportable segment.

	For the Three Months Ended December 31,
	2011		2010
DEPRECIATION and AMORTIZATION
Segment:
Home & Building Products	$	7,465	$	6,400
Telephonics		1,653		1,713
Plastics		6,300		5,644
Total segment depreciation and amortization		15,418		13,757
Corporate		97		68
Total consolidated depreciation and amortization	$	15,515	$	13,825
CAPITAL EXPENDITURES
Segment:
Home & Building Products	$	6,268	$	6,440
Telephonics		1,230		805
Plastics		12,328		10,620
Total segment		19,826		17,865
Corporate		66		65
Total consolidated capital expenditures	$	19,892	$	17,930
	At December 31, 2011		At September 30, 2011
ASSETS
Segment assets:
Home & Building Products	$	952,487	$	972,714
Telephonics		283,360		288,968
Plastics		434,834		450,452
Total segment assets		1,670,681		1,712,134
Corporate		161,127		148,064
Total continuing assets		1,831,808		1,860,198
Assets of discontinued operations		4,313		5,056
Consolidated total	$	1,836,121	$	1,865,254