Medical Action Industries Inc., Brentwood
Supplier of medical and surgical disposable products
Third Quarter: Ended Dec. 31, 2009
Net income: Profit of $4 million, compared with profit of $157,000 in the same period last year.
Net sales: $73.2 million compared with $72 million in the year-ago quarter.
Outlook: "In fiscal 2010, we have continued to invest in capital equipment and personnel at our Tennessee plant so that it is now stable and poised to give us the additional manufacturing benefits we strive to achieve. We've made important advancements in sales and marketing as we create a new structure to take us to the next level of growth and maximize our competitive advantages," president and chief executive Paul Meringolo said in the company's earnings report.
Company statement: "Our third quarter performance benefited from stable resin prices for its U.S. and Chinese-made products, from continuous improvements at [the] Tennessee plant and from ongoing investments in sales and marketing."