Griffon Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2016. For the quarter, the company reported revenue was $462.200 million against $511.7 million a year ago. Income from operations was $24.6 million against $27.914 million a year ago. Income before income taxes was $11.8 million against $16.7 million a year ago. Net income was $7.6 million against $10.9 million a year ago. Diluted earnings per share were $0.18 against $0.23 a year ago. Adjusted net income was $11.044 million against $10.643 million a year ago. The impact of foreign currency was not material. Adjusted diluted earnings per share were $0.26 against $0.23 a year ago. Adjusted EBITDA was $57.8 million against $55.2 million a year ago. Revenue decreased 10% from the prior year quarter; excluding the unfavorable impact of foreign currency, revenue decreased 9%. Capital expenditures were $17.3 million in the current quarter. The company generated $62.9 million of cash flow from operating activities.

For the nine months, the company reported revenue was $1,456.5 million against $1,513.9 million a year ago. Income from operations was $71.954 million against $72.82 million a year ago. Income before income taxes was $34.95 million against $36.9 million a year ago. Net income was $22.3 million against $23.5 million a year ago. Diluted earnings per share were $0.50 against $0.50 a year ago. Net cash provided by operating activities was $57.6 million against $29.6 million a year ago. Acquisition of property, plant and equipment was $63.25 million against $55.4 million a year ago. Adjusted net income was $25.4 million against $23.730 million a year ago. Adjusted diluted earnings per share were $0.57 against $0.50 a year ago. Adjusted EBITDA was $158.32 million against $148.956 million a year ago.

For the full year 2016, the company continues to expect capital expenditures to be in the range of $90 million to $95 million. The company expects tax rate, excluding any discrete period items and restructuring, to be approximately 37%.