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4-Traders Homepage  >  Equities  >  Nyse  >  Griffon Corporation    GFF

Delayed Quote. Delayed  - 10/20 10:02:00 pm
16.6 USD   -0.30%
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Griffon Corporation : U.S. Navy demonstrates Telephonics’ Radar on MH-60S Helicopter

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05/14/2012 | 11:43pm CEST
U.S. Navy demonstrates Telephonics' Radar on MH-60S Helicopter

FARMINGDALE, N.Y, May 14, 2012- Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced today that the U.S. Navy conducted an exercise to demonstrate several Anti Surface Warfare concepts of operation using an MH-60S (Sierra) helicopter in conjunction with a Fire Scout Unmanned Aerial Vehicle. The exercise included the use of Telephonics' multi-mode, maritime surveillance radar on the MH-60S.

The demonstration took place at the Chesapeake, MD Test Range, and it highlighted the ability of the radar to rapidly perform wide-area surveillance and to automatically detect and track surface contacts over wide areas. Provided with a surface surveillance picture, the crew of the MH-60S is able to classify targets of interest using the high resolution inverse synthetic aperture radar (ISAR) imagery from the radar and to direct the Fire Scout to specific contacts of interest for identification with its on-board electro-optic/infra-red (EO/IR) sensor.

These EO/IR images were also linked back to the Sierra via an L-3 Communication Systems West VORTEX data link providing them with valuable tactical situational awareness. Additionally, the MH-60S linked both radar information (Tracks, ISAR, and SAR (synthetic aperture radar) imagery) and EO/IR full motion video, again via the VORTEX data link, to the Patuxent River Surface/Aviation Interoperability Laboratory (SAIL).

The exercise also demonstrated the ability of the U.S. Navy with industry partners; Telephonics, Lockheed Martin, and L-3 Communications to go from concept to prototyping to demonstration of a seamless congruence of complex technologies in months not years. The U.S. Navy provided its Fire Scout asset, and Lockheed Martin coordinated the industry team to install equipment on board the MH-60S, including the Telephonics radar and the L-3 VORTEX data link installed on both the MH-60 Sierra and MQ-8B Fire Scout. All data coming from Fire Scout was transmitted and received via the L-3 data link.

About Telephonics
Telephonics' high-technology engineering and manufacturing capabilities provide integrated information, communication and sensor system solutions to military and commercial markets worldwide. Telephonics specializes in aircraft intercommunication systems, wireless communication systems, radars, identification friend or foe products, integrated security systems, air traffic management systems, aerospace electronics, and the performance of threat and radar system analyses.

About Griffon Corporation
Griffon Corporation (the "Company" or "Griffon"), headquartered in New York, N.Y., is a diversified management and holding company that conducts business through wholly-owned subsidiaries. The Company oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. The Company provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital to further diversify itself.

About Lockheed Martin

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 123,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2011 were $46.5 billion.

About L-3 Communications
L-3 Communication Systems-West is a leader in communications systems for high-performance intelligence collection, imagery processing and satellite communications for Department of Defense (DoD) and other government agencies. The company provides high-data rate, wideband, secure, real-time communications systems for surveillance, reconnaissance and other airborne intelligence collection systems. To learn more about L-3 Communications, please visit the company's web site at www.L-3com.com/CSW.

Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain statements other than statements of historical fact included in this release are forward-looking statements. Such forward-looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management. Actual results could differ materially from those contemplated by the forwardlooking statements. Information concerning risks and uncertainties that may impact the company's results and forward-looking statements are set forth in Griffon Corporation's filings with the SEC. The company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. ©

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Financials ($)
Sales 2016 1 947 M
EBIT 2016 10,3 M
Net income 2016 33,1 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 22,13
P/E ratio 2017 17,47
Capi. / Sales 2016 0,39x
Capi. / Sales 2017 0,38x
Capitalization 764 M
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Griffon Corporation Technical Analysis Chart | GFF | US3984331021 | 4-Traders
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Mean consensus BUY
Number of Analysts 2
Average target price 22,0 $
Spread / Average Target 33%
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Ronald J. Kramer Vice Chairman & Chief Executive Officer
Robert F. Mehmel President & Chief Operating Officer
Harvey R. Blau Chairman
Brian G. Harris Chief Financial Officer & Senior Vice President
Henry A. Alpert Independent Director
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