HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Medical Action Industries Inc. (NASDAQ/MDCI), a leading supplier of medical and surgical disposable products, today reported record revenue and increased net income for the three months ended June 30, 2007.
Net sales for the first quarter reached a record $70,246,000, an increase of $31,215,000 or 80%, over the $39,031,000 in net sales reported for the three months ended June 30, 2006. Net income for the period was $3,512,000 or $.22 per basic and diluted share, an increase of $891,000 or 34%, as compared with $2,621,000 or $.17 per basic and diluted share, reported for the comparable quarter in fiscal 2007. All per share amounts reflect the 3-for-2 stock split in the form of a stock dividend that was paid on February 9, 2007.
