(Reuters) - Medical Action Industries Inc (MDCI.O: Quote, Profile, Research) posted a lower-than-expected quarterly profit, hurt by manufacturing inefficiencies and higher raw material costs, sending its shares down more than 21 percent to a 52-week low. For the fourth quarter ended March 31, the maker of disposable medical devices reported a net income of $2.8 million, or 17 cents a share, down from $3.2 million, or 19 cents a share, in the comparable year-ago quarter.
