A voluntary early retirement plan helped Farmingdale-based Telephonics Corp. increase its earnings during the most recent quarter, the company said.
The defense and industrial electronics maker had a profit of $15.6 million on revenue of $104.5 million for the quarter ended Dec. 31. That’s up from $12.4 million on revenue of $98.2 million in the same quarter last year.
In addition to staff reductions through retirements, Telephonics boosted the bottom line through cost-cutting in sales and administrative expenses.
A subsidiary of Griffon Corp., Telephonics designs, develops and manufactures radar and other communication and sensor systems.
“Telephonics has remained a strong and steady leader in its markets,” Ron Kramer, Griffon’s chief executive, said in a Tuesday news release.
He added that “the new, streamlined, more flexible organizational structure recently implemented at Telephonics . . . will facilitate our strategy to deliver growth and value to our customers and our shareholders.”
Griffon, headquartered in Manhattan, is a holding company with four wholly owned subsidiaries. The other three are Ames True Temper, a maker of hand tools for landscaping; Clopay Building Products, a garage door maker; and Clopay Plastic Products, which makes films and laminates.
Photo: A Huntington facility of Telephonics Corp.
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