SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                         Date of Report: April 30, 2003
                        (Date of earliest event reported)

                               Griffon Corporation
______________________________________________________________________________

             (Exact name of registrant as specified in its charter)



   Delaware                          1-6620                     11-1893410
______________________________________________________________________________
(State or other                   (Commission                  (IRS Employer
jurisdiction of                   File Number)                 Identification
incorporation)                                                     Number)



100 Jericho Quadrangle, Jericho,  New York                        11753
______________________________________________________________________________
(Address of principal executive offices)                        (Zip Code)


                                 (516) 938-5544
______________________________________________________________________________
              (Registrant's telephone number including area code)

                                       N/A
______________________________________________________________________________
         (Former name of former address, if changed since last report.)



Item 7. Financial Statements and Exhibits. Exhibits 99.1 Press release dated April [30], issued by Griffon Corporation ("Registrant"). Item. 9. Regulation FD Disclosure The following information is furnished pursuant to Item 9, "Regulation FD Disclosure" and Item 12, "Results of Operations and Financial Condition." On April 30, 2003, the Registrant issued a press release announcing the Registrant's financial results for the second fiscal quarter ended March 31, 2003. A copy of the Registrant's press release is attached hereto as Exhibit 99.1. The information in this Form 8-K is being furnished under Item 9 and Item 12 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GRIFFON CORPORATION By: \s\Robert Balemian ------------------------- Robert Balemian, President

                         GRIFFON CORPORATION ANNOUNCES
                         -----------------------------
            OPERATING RESULTS FOR THE SECOND QUARTER OF FISCAL 2003
            -------------------------------------------------------

     Jericho,  New York, April 30, 2003 - Griffon  Corporation  (NYSE:GFF) today
reported  operating  performance  for the second  quarter of fiscal 2003,  ended
March  31,  2003.  Net sales  for the  quarter  were  $277,330,000  compared  to
$267,308,000  for the second quarter of fiscal 2002.  Income before income taxes
increased to  $11,236,000  from  $10,445,000.  Net income was  $4,617,000 in the
current  quarter  compared to $4,815,000 in the second quarter of 2002.  Diluted
and basic earnings per share were $.14 in the second quarter of both fiscal 2003
and 2002.

     Garage  doors'  profitability  improved on the  strength  of  manufacturing
efficiencies and effective cost control, and was also positively impacted by the
2002 divestiture of Atlas, an unprofitable  commercial  operation.  Net sales of
the garage doors segment were lower  compared to last year  primarily due to the
Atlas divestiture and inclement weather conditions in the segment's markets.

     Net sales of the specialty  plastic films segment  increased  substantially
compared to last year's second quarter. The growth was principally due to higher
unit volumes,  the effect of a weaker U.S.  dollar on translated  foreign sales,
the net sales of the Brazilian  operation  acquired in the latter half of fiscal
2002 and selling price  adjustments  to pass through raw material  (resin) price
increases  to  customers.  Resin  price  increases  have been  substantial;  raw
material  cost  increases  in  the  quarter   exceeded   related  selling  price
adjustments  by  approximately  $3.5  million.   Also  impacting  the  segment's
profitability in the quarter were costs associated with  manufacturing  facility
expansion  for  existing  and  new  products.  The  electronic  information  and
communication systems segment,  Telephonics,  reported lower sales primarily due
to delays in  anticipated  awards of new orders which are expected to pick up as
the year progresses. Earnings in this segment declined slightly compared to last
year  principally  due  to  the  sales  decrease  and  increased   research  and
development expenditures.

     Net sales  for the six  months  ended  March  31,  2003  were  $579,484,000
compared to $569,210,000 for the first six months of fiscal 2002.  Pretax income
for the six months rose to $32,317,000 compared to $30,739,000 last year. Income
before  the  accounting  change  last  year  to  adopt  Statement  of  Financial
Accounting  Standards  No. 142,  "Goodwill  and Other  Intangible  Assets",  was
$15,537,000 for the first six months of 2003 compared to $15,397,000 last year.

     During the quarter,  cash  generated  from  operations  and  existing  cash
balances funded treasury stock  purchases of $3,100,000,  further  reductions in
bank debt of $9,700,000 and capital  expenditures  of  $12,300,000  primarily in
connection with ongoing programs in the specialty plastic films segment.

         Griffon Corporation -

     o    is a leading manufacturer and marketer of residential,  commercial and
          industrial  garage doors sold to professional  installing  dealers and
          major home center retail chains;

     o    installs  and  services   specialty  building  products  and  systems,
          primarily  garage doors,  openers,  fireplaces  and cabinets,  for new
          construction  markets  through a  substantial  network  of  operations
          located throughout the country;

     o    is an  international  leader  in the  development  and  production  of
          embossed  and  laminated  specialty  plastic  films  used in the  baby
          diaper, feminine napkin, adult incontinent,  surgical and patient care
          markets; and

     o    develops and manufactures  information and  communication  systems for
          government and commercial markets worldwide.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the company or its management, identify 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 forward-looking statements as a result of certain factors, including but not limited to, business and economic conditions, competitive factors and pricing pressures, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. 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.

GRIFFON CORPORATION ------------------- OPERATING HIGHLIGHTS -------------------- (Unaudited, in thousands except for per share amounts) For the Three Months Ended For the Six Months Ended March 31, March 31, -------------------------- ------------------------ 2003 2002 2003 2002 ---- ---- ---- ---- Net sales: Garage Doors $ 82,886 $ 93,302 $196,349 $213,039 Installation Services 66,672 63,520 138,992 134,630 Specialty Plastic Films 92,129 68,948 179,471 141,514 Electronic Information and Communication Systems 40,612 46,675 76,373 92,362 Intersegment eliminations (4,969) (5,137) (11,701) (12,335) -------- -------- -------- -------- $277,330 $267,308 $579,484 $569,210 ======== ======== ======== ======== Operating income: Garage Doors $ 2,966 $ 336 $ 13,883 $ 9,581 Installation Services 528 721 2,207 3,105 Specialty Plastic Films 9,156 10,064 19,822 19,884 Electronic Information and Communication Systems 2,894 3,086 4,616 5,526 ----- ----- ----- ----- Segment operating income 15,544 14,207 40,528 38,096 Unallocated amounts (3,450) (2,863) (6,584) (5,397) Interest expense, net ( 858) (899) (1,627) (1,960) ------ ------ ------ ------ Income before income taxes 11,236 10,445 32,317 30,739 Provision for income taxes (4,269) (4,178) (12,280) (12,295) ------ ------ ------- ------- Income before minority interest and cumulative effect of a change in accounting principle 6,967 6,267 20,037 18,444 Minority interest (2,350) (1,452) (4,500) (3,047) ------ ------ ------ ------ Income before cumulative effect of a change in accounting principle 4,617 4,815 15,537 15,397 Cumulative effect of a change in accounting principle, net of income tax effect - - - (24,118) (1) -------- -------- -------- -------- Net income(loss) $ 4,617 $ 4,815 $ 15,537 $ (8,721) ======== ======== ======== ======== Basic earnings per share of common stock: Income before cumulative effect of a change in accounting principle $ .14 $ .14 $ .47 $ .47 Cumulative effect of a change in accounting principle - - - (.73) -------- -------- -------- -------- Net income(loss) $ .14 $ .14 $ .47 $ (.26) ======== ======== ======== ======== Diluted earnings per share of common stock: Income before cumulative effect of a change in accounting principle $ .14 $ .14 $ .46 $ .44 Cumulative effect of a change in accounting principle - - - (.69) -------- -------- -------- -------- Net income(loss) $ .14 $ .14 $ .46 $ (.25) ======== ======== ======== ======== (1) To reflect the impairment of the goodwill of the installation services segment pursuant to the adoption of Statement of Financial Accounting Standards No. 142.