Griffon Corp. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Griffon Corp. (GFF) released earnings for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $41.09 million, or $0.84 per share. This compares with $49.21 million, or $0.90 per share, in last year's third quarter.

Excluding items, Griffon Corp. reported adjusted earnings of $60.53 million or $1.24 per share for the period.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.2% to $647.81 million from $683.43 million last year.

Griffon Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $41.09 Mln. vs. $49.21 Mln. last year. -EPS (Q3): $0.84 vs. $0.90 last year. -Revenue (Q3): $647.81 Mln vs. $683.43 Mln last year.

-Guidance: Full year revenue guidance: $2.65 Bln