DISCONTINUED OPERATIONS

12 Months Ended

Sep. 30, 2012

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 of this segment have 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 2008, Griffon’s Board of Directors approved a plan to exit substantially all operating activities of the Installation Services segment. In 2008, Griffon sold eleven units, closed one unit and merged two units into CBP.

Griffon substantially concluded its remaining disposal activities in 2009. There was no reported revenue in 2012, 2011 and 2010.

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, 2012		At September 30, 2011
Assets of discontinued operations:
Prepaid and other current assets	$	587	$	1,381
Other long-term assets		2,936		3,675
Total assets of discontinued operations	$	3,523	$	5,056
Liabilities of discontinued operations:
Accrued liabilities, current	$	3,639	$	3,794
Other long-term liabilities		3,643		5,786
Total liabilities of discontinued operations	$	7,282	$	9,580