Delaware
|
06-0868496
|
|
(State
or other jurisdiction of incorporation or organization)
|
(IRS
Employer Identification Number)
|
|
Commission
File Number
|
1-12879
|
|
One
Rockefeller Plaza, New York, New York
|
10020
|
|
(Address
of principal executive offices)
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(Zip
Code)
|
|
Registrant’s
Telephone Number including Area Code
|
(212)
218-7910
|
|
(Former
name, former address and former fiscal year, if changed since last
report)
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Item
2.02.
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Results
of Operations and Financial
Condition
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Item
9.01.
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Financial
Statements and Exhibits
|
SIGNATURE
|
GRIFFIN
LAND & NURSERIES, INC.
|
|
/s/
Anthony J. Galici
|
|
Anthony
J. Galici
|
|
Vice
President, Chief Financial Officer
|
|
and
Secretary
|
|
Dated:
November 2, 2005
|
|
NEWS
FROM:
|
Exhibit
99.1
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||
GRIFFIN
LAND & NURSERIES, INC.
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CONTACT:
|
||
Anthony
Galici
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|||
Chief
Financial Officer
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|||
(860)
653-4541
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|||
Griffin
Land & Nurseries, Inc.
|
||||||||||||
Consolidated
Condensed Statements of Operations
|
||||||||||||
(amounts
in thousands, except per share data)
|
||||||||||||
(unaudited)
|
||||||||||||
Second
Quarter Ended,
|
Third
Quarter Ended,
|
Nine
Months Ended,
|
||||||||||
May
28, 2005
|
May
29, 2004
|
Aug.
27, 2005
|
Aug.
28, 2004
|
Aug.
27, 2005
|
Aug.
28, 2004
|
|||||||
Revenue
|
||||||||||||
Landscape
nursery net sales
|
$
17,174
|
|
$
19,125
|
|
$
5,699
|
|
$
5,077
|
|
$
23,337
|
|
$
24,624
|
|
Rental
revenue and property sales
|
3,533
|
|
2,910
|
|
3,350
|
|
5,789
|
|
9,748
|
|
11,186
|
|
Total
revenue
|
20,707
|
|
22,035
|
|
9,049
|
|
10,866
|
|
33,085
|
|
35,810
|
|
Operating
profit (loss):
|
||||||||||||
Landscape
nursery business
|
1,026
|
899
|
(1,428)
|
(1,514)
|
(1,415)
|
(1,488)
|
||||||
Real
estate business
|
685
|
(1)
|
349
|
(1)
|
390
|
(1)
|
176
|
(1)
|
1,027
|
(1)
|
525
|
(1)
|
General
corporate expense
|
(976)
|
|
(622)
|
|
(753)
|
|
(456)
|
|
(2,512)
|
|
(1,570)
|
|
Total
operating profit (loss)
|
735
|
|
626
|
|
(1,791)
|
|
(1,794)
|
|
(2,900)
|
|
(2,533)
|
|
Gain
on sale of Shemin Acquisition Corporation
|
-
|
|
-
|
|
3,235
|
|
-
|
|
3,235
|
|
-
|
|
Gain
on sale of Centaur Communications, Ltd.
|
-
|
|
51,107
|
|
-
|
|
-
|
|
-
|
|
51,107
|
|
Foreign
currency exchange gain
|
-
|
|
1,070
|
|
-
|
|
-
|
|
-
|
|
1,070
|
|
Interest
expense, net of interest income, dividend income and gains
on short-term
investments
|
(168)
|
|
(848)
|
|
(375)
|
|
(478)
|
|
(893)
|
|
(2,091)
|
|
Income
(loss) before taxes
|
567
|
|
51,955
|
|
1,069
|
|
(2,272)
|
|
(558)
|
|
47,553
|
|
Income
tax provision (benefit)
|
193
|
|
17,565
|
|
353
|
|
(1,052)
|
|
(207)
|
|
15,720
|
|
Income
(loss) before equity investment
|
374
|
|
34,390
|
|
716
|
|
(1,220)
|
|
(351)
|
|
31,833
|
|
Equity
income from Centaur Communications, Ltd.
|
-
|
|
417
|
|
-
|
|
-
|
|
-
|
|
328
|
|
Net
income (loss)
|
$
374
|
|
$
34,807
|
|
$
716
|
|
$
(1,220)
|
|
$
(351)
|
|
$
32,161
|
|
Basic
net income (loss) per common share
|
$
0.08
|
|
$
7.10
|
|
$
0.14
|
|
$
(0.25)
|
|
$
(0.07)
|
|
$
6.56
|
|
Diluted
net income (loss) per common share
|
$
0.07
|
|
$
6.79
|
|
$
0.14
|
|
$
(0.25)
|
|
$
(0.07)
|
|
$
6.31
|
|
Weighted
average common shares outstanding
|
||||||||||||
for
computation of basic per share results
|
4,970
|
|
4,899
|
|
4,991
|
|
4,918
|
|
4,974
|
|
4,899
|
|
Weighted
average common shares outstanding
|
||||||||||||
for
computation of diluted per share results
|
5,171
|
|
5,122
|
|
5,176
|
|
4,918
|
|
4,974
|
|
5,093
|
|
(1)
Includes depreciation and amortization expense, principally
related to
real estate properties, of $0.8 million in each of the 2005
and 2004
second quarters, of $1.1 million and $0.8 million in the 2005
third
quarter and 2004 third quarter, respectively, and $2.7 million
and $2.4
million in the 2005 and 2004 nine month periods,
respectively.
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||||||||||||