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Griffon Corp. Q2 Profit Increases, beats estimates

Griffon Corp. (GFF) reported earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $65.69 million, or $1.23 per share. This compares with $17.11 million, or $0.32 per share, in last year's second quarter.

Excluding items, Griffon Corp. reported adjusted earnings of $73.12 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $0.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 35.7% to $779.62 million from $574.68 million last year.

Griffon Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $65.69 Mln. vs. $17.11 Mln. last year.
-EPS (Q2): $1.23 vs. $0.32 last year.
-Analyst Estimate: $0.33
-Revenue (Q2): $779.62 Mln vs. $574.68 Mln last year.

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