Medical Action Industries (MDCI) Misses Q1 Profit Expectations

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Go back to Medical Action Industries (MDCI) Misses Q1 Profit Expectations

Medical Action Industries Reports First Quarter Results for the Three Months Ended June 30, 2014

August 11, 2014 7:30 AM EDT

BRENTWOOD, N.Y., Aug. 11, 2014 (GLOBE NEWSWIRE) -- Medical Action Industries Inc. (the "Company") (Nasdaq: MDCI), a leading supplier of medical and surgical disposable products, today reported financial results for the first quarter ended June 30, 2014.

On June 2, 2014, the Company completed its previously announced sale of its Medegen Medical Products, LLC subsidiary and certain other assets of its Patient Care business unit to Medira Inc., an affiliate of Inteplast Group, Ltd., for approximately $78,628,000, subject to customary post-closing adjustments. Consequently, the assets and liabilities associated with this divestiture are presented as "held for sale" on the Company's... More