<SEC-DOCUMENT>0000930413-11-002926.txt : 20110712
<SEC-HEADER>0000930413-11-002926.hdr.sgml : 20110712
<ACCEPTANCE-DATETIME>20110421163415
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000930413-11-002926
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20110421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRIFFON CORP
		CENTRAL INDEX KEY:			0000050725
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL DOORS, SASH, FRAMES, MOLDING & TRIM [3442]
		IRS NUMBER:				111893410
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2129575000

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INSTRUMENT SYSTEMS CORP /DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P align="center">
<FONT size=2 face="sans-serif">Confidential Treatment Requested by Griffon Corporation</FONT></P><P align="center">
<FONT size=2 face="serif">GRIFFON CORPORATION</FONT><BR>
<FONT size=2 face="serif">712 Fifth Avenue </FONT><BR>
<FONT size=2 face="serif">New York, New York 10019</FONT></P>
<P align="left">
<FONT size=2 face="serif">VIA EDGAR TRANSMISSION</FONT></P>
<P align="left">
<FONT size=2 face="serif">April 21, 2011</FONT></P>
<P align="left">
<FONT size=2 face="serif">Mr. W. John Cash </FONT><BR>
<FONT size=2 face="serif">Branch Chief </FONT><BR>
<FONT size=2 face="serif">Securities and Exchange Commission</FONT><BR>
<FONT size=2 face="serif">Division of Corporate Finance </FONT><BR>
<FONT size=2 face="serif">100 F Street NE </FONT><BR>
<FONT size=2 face="serif">Washington D.C. 20549-4631 </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="3%" align=center nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD width="2%" align=left nowrap><b><font size=2 face="serif">Re:&nbsp;&nbsp;&nbsp;</font></b></TD>
  <TD width="95%" align=left nowrap>
<B><FONT size=2 face="serif"> Griffon Corporation</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">Form 8-K/A Filed November 12, 2010</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">Form 10-K for the Fiscal Year Ended September 30, 2010 Filed November 17, 2010</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">Definitive Proxy Statement on Schedule 14A Filed December 15, 2010</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">Form 10-Q for the Fiscal Quarter Ended December 31, 2010 Filed February 3, 2011</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">Response Letter Dated March 28, 2011</FONT></B>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><B><FONT size=2 face="serif">File No. 1-06620</FONT></B>  </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 face="serif">Dear Mr. Cash:</FONT></P>
<P align="left">
<FONT size=2 face="serif">Thank you for your letter dated April 11, 2011 on the above referenced matters. In reply to your comments, Griffon Corporation (&#147;Griffon&#148; or the &#147;Company&#148;) is responding as detailed below. For your
convenience, our responses follow each of your comments which are reproduced below; in our responses, where we provide future expected disclosures, such disclosures have been drafted as though they would be included in our Form 10-K for the year
ended September 30, 2010. </FONT></P>
<P align="left">
<B><I><U><FONT size=2 face="serif">Form 10-K for Fiscal Year Ended September 30, 2010</FONT></U></I></B></P>
<P align="left">
<B><I><U><FONT size=2 face="serif">Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations Consolidated Results of Operations</FONT></U></I></B><B><I><FONT size=2 face="serif"> </FONT></I></B></P>
<P align="left">
<B><I><U><FONT size=2 face="serif">Business Segments, page 32</FONT></U></I></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD nowrap valign=top>
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD width=100%>
<P align="left"><B><I><FONT size=2 face="serif">We note your response to our prior comment number 8. Your proposed disclosures indicate that you evaluate performance and allocate resources based on each segment&#146;s operating results before
interest income or expense, income taxes, depreciation and amortization, and certain non-recurring items of income or expense. It appears to us that this proposed disclosure contradicts your segment footnote disclosure since you present segment
measures that appear to include depreciation and amortization and items you identify as non-recurring. Your proposed disclosures also identify items as &#147;non-recurring&#148; items of income or expense even though those items have occurred in
more than one period. Please revise your proposed disclosures to address these inconsistencies. Also, based on the reconciliation you present, please revise your proposed disclosures to disclose and discuss changes in any other reconciling items not
already addressed in MD&amp;A, including unallocated costs.</FONT></I></B></P>  </TD>
</TR>
</TABLE>
<P align="left">
<U><FONT size=2 face="serif">Response (part 1)</FONT></U><FONT size=2 face="serif">:</FONT></P>
<P align="left">
<FONT size=2 face="serif">In future filings, we will include a disclosure, and replace the Income (loss) Before Taxes and Discontinued Operations segment measure schedule in the segment footnote with a schedule in line with the following: </FONT></P>
<P align="center">
<FONT size=2 face="sans-serif">1</FONT><FONT size=2 face="sans-serif">&#160;</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="center">
<FONT size=2 face="sans-serif">Confidential Treatment Requested by Griffon Corporation</FONT></P>
<br>
<div style="margin-left:45px;margin-right:45px">
<P align="left">
<FONT size=2 face="serif">Griffon evaluates performance and allocates resources based on operating results before interest income or expense, income taxes, depreciation and amortization, restructuring charges, impairment, gain (loss) from debt
extinguishment and unallocated amounts related to general corporate expenses not attributable to reportable segments, as applicable. </FONT></P>
</div><TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap colspan=9 style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="serif">For the Years Ended September 30,</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=1 face="serif">Segment profit before depreciation, amortization,</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="serif">2010</FONT></B>  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="serif">2009</FONT></B>  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="serif">2008</FONT></B>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp; &nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">restructuring and impairment:</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">Telephonics</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">46,120</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">41,540</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">39,615</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">Home &amp; Building Products</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">19,351</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">3,137</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap solid #000000;">
<FONT size=1 face="serif">10,150</FONT>  </TD>
  <TD align=left nowrap solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">Clopay Plastic Products</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">42,853</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">46,002</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">43,258</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
<B><FONT size=1 face="serif">Total segment profit before depreciation, amortization,</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">restructuring and impairment</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">108,324</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">90,679</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">93,023</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=1 face="serif">Unallocated amounts</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(37,199</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(20,960</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(21,281</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
<B><FONT size=1 face="serif">Gain (loss) from debt extinguishment, net</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(1,117</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">4,488</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">-</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=1 face="serif">Net interest expense</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(11,913</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(11,552</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(14,939</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap><B><font size="1" face="serif">Segment depreciation
        and amortization</font></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(40,103</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(41,810</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(41,462</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
<B><FONT size=1 face="serif">Home &amp; Building Products:</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
</TR>
<TR valign="bottom" bgcolor="#E5FFFF">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">Goodwill impairment</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">-</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">-</FONT>  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap>&nbsp;  </TD>
  <TD align=right nowrap>
<FONT size=1 face="serif">(12,913</FONT>  </TD>
  <TD align=left nowrap>
<FONT size=1 face="serif">)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<B><FONT size=1 face="serif">Restructuring charges</FONT></B>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">(4,180</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">(1,240</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">)</FONT>  </TD>
  <TD>&nbsp;  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;  </TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">(2,610</FONT>  </TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="serif">)</FONT>  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap bgcolor="#E5FFFF">
<B><FONT size=1 face="serif">Income (loss) before taxes and discontinued operations</FONT></B>  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">13,812</FONT>  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">19,605</FONT>  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">&nbsp;  </TD>
  <TD bgcolor="#E5FFFF">&nbsp;  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">&#36;</FONT>  </TD>
  <TD align=right nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">(182</FONT>  </TD>
  <TD align=left nowrap bgcolor="#E5FFFF" style="border-bottom:3px double #000000;">
<FONT size=1 face="serif">)</FONT>  </TD>
</TR>
</TABLE>
<BR>
<P align="left">
<U><FONT size=2 face="serif">Response (part 2)</FONT></U><FONT size=2 face="serif">:</FONT></P>
<P align="left">
<FONT size=2 face="serif">In future filings, we will expand our Management&#146;s
Discussion and Analysis of Financial Condition and Results of Operations to include,
as appropriate, discussion of unallocated amounts, and depreciation and  amortization.
Below is a revised discussion of 2010 compared to 2009 as an example of such
expanded discussion: </FONT></P>
<div style="margin-left:45px;margin-right:45px">
<P align="left">
<FONT size=2 face="serif">In 2010, unallocated amounts totaled &#36;37.2 million, an increase of &#36;16.2 million from 2009, primarily due to inclusion of &#36;11.4 million of costs incurred in connection with evaluating various acquisition
opportunities, including &#36;9.8 million of such costs related to the acquisition of ATT. The balance of the increase in unallocated amounts was primarily due to increased compensation expense. </FONT></P>
<P align="left">
<FONT size=2 face="serif">In 2010, depreciation and amortization totaled &#36;40.1 million, a decrease of &#36;1.7 million from 2009, primarily due to certain assets becoming fully depreciated, partially offset by new depreciation on capital assets
placed in service during the year, and &#36;0.6 million of amortization resulting from the reclassification of an indefinite lived intangible asset to definite lived, effective October 1, 2009. </FONT></P></div>
<P align="left">
<B><I><U><FONT size=2 face="serif">Critical Accounting Policies</FONT></U></I></B><B><I><FONT size=2 face="serif"> </FONT></I></B></P>
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<B><I><U><FONT size=2 face="serif">Goodwill, Long-Lived Intangible and Tangible Assets and Impairment, page 43</FONT></U></I></B><B><I><FONT size=2 face="serif"> </FONT></I></B></P>
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<B><I><FONT size=2 face="serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></TD>
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<P align="left"><B><I><FONT size=2 face="serif">In your response to our prior comment number 12 you refer to three reporting units; however, your response also indicates that ATT is an operating segment. Please confirm to us that subsequent to your
acquisition of ATT you have at least four reporting units.</FONT></I></B></P>  </TD>
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<U><FONT size=2 face="serif">Response</FONT></U><FONT size=2 face="serif">:</FONT></P>
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<FONT size=2 face="serif">We are confirming that we have four reporting units.</FONT></P>
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<FONT size=2 face="sans-serif">2</FONT><FONT size=2 face="sans-serif">&#160;</FONT></P>

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<FONT size=2 face="sans-serif">Confidential Treatment Requested by Griffon Corporation</FONT></P><br>

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<B><I><U><FONT size=2 face="serif">Financial Statements</FONT></U></I></B><B><I><FONT size=2 face="serif"> </FONT></I></B><BR>
<BR>
<B><I><U><FONT size=2 face="serif">Note 20- Business Segment, page 89</FONT></U></I></B></P>
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<B><I><FONT size=2 face="serif">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></TD>
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<P align="left"><B><I><FONT size=2 face="serif">We note your response to our prior comment number 17. Based on your disclosures it appears that Clopay Business Products (CBP) is engaged in the manufacture and sale of garage and sectional doors. It
further appears that Ames True Temper (ATT) is engaged in the manufacture and sale of non-powered landscaping products including long handle tools, striking tools, garden and hose reels, etc. Please explain to us in greater detail why you believe
the nature of these products and their production processes are similar and warrant aggregation as a single reportable segment. Also, please explain to us in greater detail how you determined that these two operating segments have similar economic
characteristics.</FONT></I></B></P>  </TD>
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<U><FONT size=2 face="serif">Response</FONT></U><FONT size=2 face="serif">:</FONT></P>
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<FONT size=2 face="serif">Ames True Temper, Inc. (&#147;ATT&#148;), acquired by Griffon on September 30, 2010, is a leading provider of non-powered landscaping products that make work easier for homeowners and professionals. The acquisition of ATT
was part of Griffon&#146;s overall strategy of investing in the broadly-defined Home and Building Products (H&amp;B) sector.</FONT></P>
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<FONT size=2 face="serif">Having made the determination that ATT met the criteria as an operating segment, we made the further determination that it was appropriate to aggregate ATT with CBP based on the provisions of ASC 280-10-50, which recognizes
that operating segments often exhibit similar long-term financial performance if they have similar economic characteristics. For example, similar long-term average gross margins for two operating segments would be expected if their economic
characteristics were similar. Two or more operating segments may be aggregated into a single operating segment if aggregation is consistent with the objective and basic principles of this Subtopic, if the segments have similar economic
characteristics, and if the segments are similar in all of the following areas: </FONT></P>
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<FONT size=2 face="serif">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
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<P align="left"><FONT size=2 face="serif">The nature of the products and services;</FONT></P>  </TD>
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<FONT size=2 face="serif">b)</FONT></TD>
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<P align="left"><FONT size=2 face="serif">The nature of the production processes;</FONT></P>  </TD>
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<FONT size=2 face="serif">c)</FONT></TD>
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<P align="left"><FONT size=2 face="serif">The type or class of customer for their products and services;</FONT></P>  </TD>
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<FONT size=2 face="serif">d)</FONT></TD>
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<P align="left"><FONT size=2 face="serif">The methods used to distribute their products or provide their services; and</FONT></P>  </TD>
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<FONT size=2 face="serif">e)</FONT></TD>
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<P align="left"><FONT size=2 face="serif">If applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities.</FONT></P>  </TD>
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<FONT size=2 face="serif">CBP and ATT operate in the building products sector where demand for our products is influenced by the repair and remodeling of existing homes, construction of new homes and commercial construction expenditures.</FONT></P>
<P align="left">
<FONT size=2 face="serif">CBP and ATT&#146;s primary raw materials are resin and steel, and both manufacturing processes mold resin and steel into finished products for the building products market. CBP and ATT use their combined buying power for
purchase of raw materials. </FONT></P>
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<FONT size=2 face="serif">Both CBP and ATT&#146;s largest customer is The Home Depot, which in aggregate accounted for 27% of the H&amp;B segment&#146;s pro forma 2010 revenue. ATT and CBP&#146;s customers, which include big box and co-operative
home centers, often overlap and share the same credit profile.</FONT></P>
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<FONT size=2 face="serif">Both CBP and ATT use distribution centers to distribute its products to its customers via truck, with the two operating companies currently investigating ways to share distribution centers and combine shipments.</FONT></P>
<P align="center">
<FONT size=2 face="serif">[Rule 83 Confidential Treatment Request by Griffon Corporation]</FONT></P>
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<FONT size=2 face="serif">CBP and ATT have similar economic characteristics. They have similar gross margins and such margins (ATT was [</FONT><U><FONT size=2 face="serif">***</FONT></U><FONT size=2 face="serif">]% and BPC was </FONT><U><FONT size=2 face="serif">[***]</FONT></U><FONT size=2 face="serif">% in 2010) are expected to remain similar in the future; their customers have the same or similar credit profiles; they are both affected by fluctuations in steel, resin and fuel commodity
prices; and they are both affected by changes in commercial and residential construction markets as they serve the H&amp;B sector. </FONT></P>
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<FONT size=2 face="sans-serif">3</FONT><FONT size=2 face="sans-serif">&#160;</FONT></P>

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<FONT size=2 face="sans-serif">Confidential Treatment Requested by Griffon Corporation</FONT></P>
<br>
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<FONT size=2 face="serif">CBP and ATT meet all of the applicable criteria for
aggregation (items a-d above; for &#148;e&#148; there is no applicable regulatory
oversight or environment), and are accordingly aggregated and disclosed as one
reportable segment.
</FONT></P>
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<B><I><U><FONT size=2 face="serif">Form 8-K/A Filed November 12, 2010</FONT></U></I></B><BR>
<BR>
<B><I><U><FONT size=2 face="serif">Pro Forma Adjustments, page 5</FONT></U></I></B><B><I><FONT size=2 face="serif"> </FONT></I></B></P>
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<P align="left"><B><I><FONT size=2 face="serif">We note your response to our prior comment number 27. Please note that it is generally inappropriate to modify historical financial statements related to an acquisition under Rule 11-02 of Regulation
S-X, except in certain carve-out transactions. It remains unclear to us why you believe historical transactions reflected in ATT&#146;s financial statements meet the criteria for pro forma adjustment. Please modify your pro forma presentation to
remove these adjustments or provide us additional information that supports each pro forma adjustment, including the specific nature of the costs being eliminated and your basis for determining that each adjustment complies with Article 11 of
Regulation S-X.</FONT></I></B></P>  </TD>
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<U><FONT size=2 face="serif">Response</FONT></U><FONT size=2 face="serif">:</FONT></P>
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<FONT size=2 face="serif">Griffon management considers the adjustments for management
fees and deal costs appropriate in determining the pro forma combined financial
statements; however, in order to conform the pro forma financial information
to SEC guidance, Griffon will amend the 8-K removing adjustments for management
fees and deal costs. </FONT></P>
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<FONT size=2 face="serif">Very truly yours,</FONT>  </TD>
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<FONT size=2 face="serif">/s/ Douglas J. Wetmore</FONT>  </TD>
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<FONT size=2 face="serif">Douglas J. Wetmore</FONT>  </TD>
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<FONT size=2 face="serif">Executive Vice President and</FONT>  </TD>
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<FONT size=2 face="serif">Chief Financial Officer</FONT>  </TD>
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<FONT size=2 face="sans-serif">4</FONT><FONT size=2 face="sans-serif">&#160;</FONT></P>

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