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Griffon Corp. Q1 adjusted earnings Beat Estimates

Griffon Corp. (GFF) released a profit for first quarter that declined from the same period last year.

The company's earnings came in at $8.75 million, or $0.21 per share. This compares with $22.83 million, or $0.53 per share, in last year's first quarter.

Excluding items, Griffon Corp. reported adjusted earnings of $9.22 million or $0.22 per share for the period.

Analysts had expected the company to earn $0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.7% to $510.52 million from $437.30 million last year.

Griffon Corp. earnings at a glance:

-Earnings (Q1): $9.22 Mln. vs. $2.41 Mln. last year.
-EPS (Q1): $0.22 vs. $0.06 last year.
-Analysts Estimate: $0.08
-Revenue (Q1): $510.52 Mln vs. $437.30 Mln last year.

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