Griffon Corp - GFF STOCK NEWS

Griffon Corporation's subsidiary, Telephonics, has secured a $162 million support contract from Lockheed Martin for U.S. Navy MH-60R and MH-60S helicopters. The contract includes a five-year base period, extending to 2025, with an optional two-year extension. Currently, there is a funded backlog of $84 million. This contract is part of the U.S. Navy’s Performance Based Logistics program, aimed at procuring spares, supplying test equipment, and performing critical repairs on advanced radar and communication systems integral to these aircraft.

Griffon Corporation (NYSE:GFF) announced its participation in the Sidoti Spring 2021 Investor Conference on March 25, 2021, in a virtual format. The investor presentation will be accessible on Griffon's website during the conference. The company operates through three reportable segments: Consumer and Professional Products, led by The AMES Companies; Home and Building Products, through Clopay Corporation; and Defense Electronics, provided by Telephonics Corporation. For more information, visit www.griffon.com.

Griffon Corporation (NYSE:GFF) reported strong Q1 fiscal 2021 results, with consolidated revenue of $609.3 million, an 11% increase year-over-year. Net income rose to $29.5 million or $0.55 per share, up from $10.6 million or $0.24 per share in Q1 2020. Adjusted EBITDA grew 35% to $74.6 million. Key segments, Consumer and Professional Products, Home and Building Products, and Defense Electronics, all reported revenue growth. The company anticipates annual cash savings of $30 million to $35 million from its strategic initiatives.

The Board of Directors of Griffon Corporation (GFF) has declared a quarterly cash dividend of $0.08 per share, payable on March 18, 2021, to shareholders on record by the close of business on February 18, 2021. Griffon operates through three segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, which include brands such as AMES and Clopay. The company aims to allocate resources effectively to enhance growth and acquisitions while providing operational support to its subsidiaries.

Griffon Corporation (NYSE:GFF) will announce its fiscal first quarter results on January 28, 2021, with a conference call at 8:30 AM ET. Participants can join by calling 1-877-407-0792 for U.S. callers or 1-201-689-8263 for international participants, providing the conference ID 13715112. A replay will be available starting the same day at 11:30 AM ET, lasting until February 11, 2021. Griffon operates through three main segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, focusing on growth and resource allocation within its subsidiaries.

Griffon Corporation (NYSE:GFF) announced its participation in the CJS Securities 21^st Annual 'New Ideas for the New Year' Investor Conference on January 13, 2021, in a virtual format. An investor presentation will be available on Griffon's website at the time of the conference. Griffon is a diversified management company overseeing subsidiaries in various sectors, including Consumer and Professional Products, Home and Building Products, and Defense Electronics. The Company is focused on growth opportunities and seeks to acquire businesses that offer attractive returns.

Griffon Corporation (NYSE:GFF) has announced the acquisition of Quatro Design Pty Ltd, enhancing its subsidiary AMES’s presence in Australia. Quatro, known for its glass fiber reinforced concrete landscaping products, is projected to contribute around $5 million in annualized revenue, which will positively impact Griffon’s earnings in the fiscal year ending September 30, 2021. This marks AMES’s sixth acquisition in Australia since 2013, further expanding its product offerings and sales channels.

QuantiTech has acquired Systems Engineering Group (SEG) from Griffon Corporation (NYSE: GFF). The financial terms were not disclosed. SEG specializes in threat engineering and modeling services for the U.S. Government, notably aiding the Naval Surface Warfare Center and Missile Defense Agency. This acquisition aims to enhance QuantiTech's capabilities in missile defense and intelligence markets, allowing for expanded service offerings. The existing management team at SEG will remain in place post-acquisition, emphasizing continuity and expertise integration.

Griffon Corporation (NYSE:GFF) has announced its participation in the virtual Bank of America 2020 Leveraged Finance Conference, scheduled for December 1, 2020. An investor presentation will be available during the event on Griffon's investor relations website. The company operates through three main segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, managing a diversified portfolio of subsidiaries including The AMES Companies, Clopay Corporation, and Telephonics Corporation. For more details, visit www.griffon.com.