Medical Action Industries (MDCI) Profits Surge

Medical and surgical disposable product supplier Medical Action Industries Inc MDCI on Wednesday morning released financial results that exceeded Wall Street earnings expectations. Medical Action Industries Inc reported that its fiscal 4th quarter net income surged to $5.2 million, or 30 cents per share, up from $1.8 million, or 11 cents per share, a year earlier. The company reported that net sales had fallen 2% to $71.2 million, down from $72.9 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 24 cents per share.