Telephonics Corporation announces award of additional $18 million from Syracuse Research Corporation

Telephonics Corporation, a wholly owned subsidiary of the Griffon Corporation (NYSE:GFF) announced today the incremental award of an additional ˜$18 Million in funding from Syracuse Research Corporation (SRC) for turnkey production of a SRC product. The total awards received by Telephonics to date on this program approach $215 Million. All awards are fully funded. SRC is an independent, not-for-profit research and development leader focused on technology programs of national significance. "We've developed a sustained repetitive execution model that continues to ensure that SRC remains in a leadership position." emphasized Mr. Donald C. Pastor, Executive Vice President of Operations for Telephonics Corporation.