EARNINGS: Medical Action Industries, Brentwood
Medical Action Industries Inc.,BrentwoodSupplier of disposable medical and surgical products
Year: Ended March 31
Net income: Profit of $16.8 million, compared with profit of $4.95 million in the previous year.
Net sales: $290.1 million compared with $296 million the previous year.
Outlook: "After the challenges of fiscal 2009 and our significant performance improvement in fiscal 2010, we are optimistic about the future of Medical Action, including our ability to execute our multiple strategies, continue to develop our people and improve our processes," chief executive Paul Meringolo said.
Company statement: The financial results are due to lower raw material costs; improvements to operations at the company's Tennessee plant; elimination of back-orders; stable prices of imports from China; and advance resin purchases.
Stock price: $11.75 Thursday, down 41 cents.
Sarra Sounds Off, Season 3, Ep. 6: Top football teams in action and soccer playoffs roundup Gregg Sarra sounds off on Farmingdale vs. Massapequa and the battle between Longwood and Floyd, plus Michael Sicoli recaps some of the playoff soccer games, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep. 6: Top football teams in action and soccer playoffs roundup Gregg Sarra sounds off on Farmingdale vs. Massapequa and the battle between Longwood and Floyd, plus Michael Sicoli recaps some of the playoff soccer games, an update on the high school fantasy football standings and the plays of the week.
