EARNINGS (LOSS) PER SHARE

12 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 15 – EARNINGS (LOSS) PER SHARE

Basic and diluted EPS for the years ended September 30, 2013, 2012 and 2011 were determined using the following information (in thousands):

	2013		2012		2011
Weighted average shares outstanding - basic		54,428		55,914		58,919
Incremental shares from stock based compensation		2,135		1,415		—
Weighted average shares outstanding - diluted		56,563		57,329		58,919
Anti-dilutive options excluded from diluted EPS computation		714		930		1,170
Anti-dilutive restricted stock excluded from diluted EPS computation		—		—		1,235

Griffon has the intent and ability to settle the principal amount of the 2017 Notes in cash, as such, the potential issuance of shares related to the principal amount of the 2017 Notes does not affect diluted shares. Shares of the ESOP which have been allocated to employee accounts are treated as outstanding in determining earnings per share.