GFF FY 2007 Earnings Report — Griffon Corporation Revenue & Financial Results | Market Cap Arena

Griffon CorporationGFF

FY 2007 Earnings

Reported November 29, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.6B	—	-1.2%
Op. Income	$39M	—	$85M	—	-54.4%
Gross Margin	22.4%	—	24.5%	—	-2.2pp
Net Margin	1.4%	—	3.2%	—	-1.8pp
EPS (Diluted)	$0.66	—	$1.53	—	-56.9%
Free Cash Flow	$35M	—	-$26M	—	236.9%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.3B
GROSS PROFIT	$361M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$323M
Other Expenses	$0
Operating Expenses	$323M
Cost & Expenses	$1.6B
OPERATING INCOME	$39M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$32M
Income Tax Expense	$10M
Net Income from Continuing Ops	$28M
Net Income from Discontinued Ops	$0
Other Adjustments	-$6M
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$42M
EBIT	$44M
EBITDA	$86M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.3B
GROSS PROFIT	$361M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$323M
Other Expenses	$0
Operating Expenses	$323M
Cost & Expenses	$1.6B
OPERATING INCOME	$39M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$32M
Income Tax Expense	$10M
Net Income from Continuing Ops	$28M
Net Income from Discontinued Ops	$0
Other Adjustments	-$6M
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$42M
EBIT	$44M
EBITDA	$86M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$40M
Stock-Based Compensation	$0
Deferred Income Tax	-$10M
Other Non-Cash Items	$18M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$66M
Capital Expenditure	-$30M
Acquisitions (Net)	-$818.0K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$28M
NET CASH FROM INVESTING	-$58M
Net Debt Issuance	$14M
Common Stock Repurchased	-$4M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	$14M
FREE CASH FLOW	$35M
Net Change in Cash	$22M

Balance Sheet

Item	Amount
Cash & Equivalents	$45M
Short-Term Investments	$0
Net Receivables	$288M
Inventory	$162M
Other Current Assets	$66M
TOTAL CURRENT ASSETS	$545M
PP&E (Net)	$233M
Goodwill	$115M
Intangible Assets	$67M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$415M
TOTAL ASSETS	$960M
Account Payables	$99M
Short-Term Debt	$3M
Deferred Revenue	$79M
Other Current Liabilities	$54M
TOTAL CURRENT LIABILITIES	$202M
Long-Term Debt	$229M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$62M
TOTAL NON-CURRENT LIABILITIES	$291M
TOTAL LIABILITIES	$493M
Common Stock	$11M
Additional Paid-In Capital	$180M
Retained Earnings	$461M
Treasury Stock	-$213M
Accum. Other Comp. Income	$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$467M
Minority Interest	$0
TOTAL EQUITY	$467M
TOTAL LIABILITIES & EQUITY	$960M
Total Debt	$233M
Net Debt	$188M