Griffon Corp. reports $2M profit
Griffon Corp., Manhattan, with corporate office in Jericho
Corporate parent of Farmingdale-based defense electronics contractor Telephonics
Quarter: Ended March 31
Net income: Profit of $2 million, compared with loss of $1.4 million the year-ago quarter.
Net revenue: $314 million, compared with $276 million in the year-ago quarter.
Outlook: Ron Kramer, chief executive, said: "We are very pleased to see improving trends at each of our three operating segments. Telephonics continued with a strong performance across its business lines."
Company statement: "On a strategic level, we remain poised to deploy significant capital to supplement the growth we are realizing organically. Our efforts in this area have become more aggressive over the past quarter," Kramer said.
- Joseph Mallia
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