Industry Segment Information

6 Months Ended

Jun. 02, 2012

Industry Segment Information

Industry Segment Information

3.Industry Segment Information

Griffin defines its reportable segments by their products and services, which are comprised of the real estate and landscape nursery segments.  Management operates and receives reporting based upon these segments.  Griffin has no operations outside the United States.  Griffin’s export sales and transactions between segments are not material.

	For the 13 Weeks Ended,						For the 26 Weeks Ended,
	June 2, 2012			May 28, 2011			June 2, 2012			May 28, 2011
Total net sales and other revenue:
Rental revenue and property sales	$	4,476		$	4,438		$	8,889		$	8,844
Landscape nursery net sales and other revenue	8,258			9,262			8,458			9,445
	$	12,734		$	13,700		$	17,347		$	18,289
Operating profit (loss):
Real estate	$	912		$	886		$	1,640		$	940
Landscape nursery	36			82			(607		)	(1,120		)
Industry segment totals	948			968			1,033			(180		)
General corporate expense	(1,003		)	(1,186		)	(2,363		)	(2,601		)
Operating loss	(55		)	(218		)	(1,330		)	(2,781		)
Interest expense	(830		)	(1,056		)	(1,705		)	(2,132		)
Investment income	82			80			469			91
Loss before income tax benefit	$	(803	)	$	(1,194	)	$	(2,566	)	$	(4,822	)

The above table reflects the net sales and other revenue and operating profit/loss included in continuing operations on Griffin’s consolidated statements of operations.  Operating results of the Manchester, Connecticut warehouse and the gain on the sale of that building are included in the results of the discontinued operation on Griffin’s consolidated statements of operations (see Note 2).

Continuing operations of the real estate segment had no revenue from property sales in either the 2012 six month period or the 2011 six month period. In fiscal 2009, Imperial shut down operations on its Florida farm and entered into a lease with another grower for that property. Other revenue of the landscape nursery segment includes revenue from the rental of Imperial’s Florida farm as follows:

	For the 13 Weeks Ended,				For the 26 Weeks Ended,
	June 2, 2012		May 28, 2011		June 2, 2012		May 28, 2011
Rental revenue from Imperial’s Florida farm	$	117	$	118	$	235	$	235

	June 2, 2012		December 3, 2011
Identifiable assets:
Real estate	$	132,734	$	140,409
Landscape nursery	24,532		21,303
Industry segment totals	157,266		161,712
General corporate	19,346		14,963
Total assets	$	176,612	$	176,675