Clopay parent Griffon registers 1Q loss - Business Courier of Cincinnati:

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The company reported a loss of $1.4 million, or 5 centds per share, on overall salesw of $341 million, the latter off 21 percent fromthe October-December quarter in 2006. It had net incomew of $8.5 million, or 27 in the 2006 period. Of Griffon' four operating segments, only Clopay Plastic Products It is a maker of specialty filmws with headquarters in Mason and a major manufacturing plantin Maysville, Ky. Clopay'sz sales increased 3 percent to $106 and its operating profit jumped 38 percengtto $6 million from $4.3 million.
A newlyu developed elastic laminate for disposable diapers and other hygiener products has been qualifiefby , its major it said, and other key customers are being targeted. Salesa of garage doors by Clopay Building Productsx declined 14 percentto $111 million from $129 million, and operatinv profit vanished as it posted a loss of $1.3 milliojn versus profit of $4 million in the 2006 period. The housingt downturn had a longerand more-severe than expected impacf on its repair and renovationm business, it said. "We continue to see mixed signals with respecft to predicting the bottom of the housinymarket decline.
The segment has been and will continue to focud on cost reductionprograms including, but not limited to, reductions in reducing or eliminating certain sales and marketing program and consolidating facilities where possible," New York-basede Griffon said in its earninge release.