Griffon Q1 Profit Rises - Quick Facts

(RTTNews) - Griffon Corp. (GFF) reported first-quarter net income of $7.47 million or $0.16 per share, compared to $3.24 million or $0.06 per share, prior year. Adjusted earnings per share was $0.16, for the quarter.

Revenue increased to $502.16 million from $453.46 million last year. Revenue increased 11% from the prior year quarter reflecting 7% organic growth and a 6% contribution from acquisitions, partially offset by a 2% unfavorable impact from foreign currency translation.

Ronald Kramer, CEO, said: "Our first quarter results reflect the impact of the strategic efficiency initiatives implemented over the past year driving significant EPS growth. We are optimistic that our profitability this year will gain momentum through improved operations and strong demand for our products."