Medical Action Industries (MDCI) Reports Mixed Q4 Results
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Medical Action Industries (Nasdaq: MDCI) reports Q4 EPS of $0.11, 6 cents better than the analyst estimate of $0.05. Revenue for the quarter was $72.86 million, versus the consensus of $73.65 million.
"These and other improving business trends demonstrate that Medical Action has made significant progress in managing its near-term business challenges and, with a continued focus on improvement, is poised to take advantage of growth opportunities in fiscal 2010," Meringolo said.
"While we are pleased with our record revenue," Meringolo said, "there's no question we have come off a challenging year that adversely affected our profitability. Our three primary business challenges -- higher resin costs due to record oil prices, increased costs for Chinese-made products and inefficiencies in the Tennessee plant - cost a combined $16,194,000 in fiscal 2009."
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