Clopay parent Griffon registers 1Q loss - Dayton Business Journal:

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The company reported a loss of $1.4 or 5 cents per share, on overall sales of $341 the latter off 21 percent fromthe October-Decembed quarter in 2006. It had net incomes of $8.5 million, or 27 in the 2006 period. Of Griffon's four operatingb segments, only Clopay Plastic Products It is a maker of specialty films with headquarters in Mason and a major manufacturin plantin Maysville, Ky. Clopay's sales increased 3 percent to $106 and its operating profit jumped 38 percentfto $6 million from $4.3 A newly developed elastic laminate for disposable diaperw and other hygiene products has been qualified by , its majo customer, it said, and other key customersz are being targeted.
Sales of garage doors by Clopaty Building Products declined 14 percentto $111 milliomn from $129 million, and operating profit vanishecd as it posted a loss of $1.3 millioj versus profit of $4 million in the 2006 The housing downturn had a longer and more-severe than expecte d impact on its repair and renovation business, it said. "W e continue to see mixed signal with respect to predicting the bottom of the housingbmarket decline.
The segment has been and will continuwe to focus on cost reductionprogramxs including, but not limited to, reductionx in force, reducing or eliminating certain salees and marketing programs and consolidatinb facilities where possible," New York-based Griffon said in its earnings release.