Griffon: Fiscal 4Q Earnings Snapshot
NEW YORK (AP) _ Griffon Corp. (GFF) on Wednesday reported a loss of $1.4 million in its fiscal fourth quarter.
The New York-based company said it had a loss of 4 cents per share. Earnings, adjusted for pretax expenses and to account for discontinued operations, were 38 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The garage door and building products maker posted revenue of $545.5 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $590.6 million.
For the year, the company reported profit of $125.7 million, or $2.96 per share. Revenue was reported as $1.98 billion.
Griffon shares have decreased 42 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.81, a drop of 43 percent in the last 12 months.