HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Medical Action Industries Inc. (NASDAQ/MDCI), a leading supplier of medical and surgical disposable products, today reported the record revenue and earnings for the fiscal year ended March 31, 2007. Net sales for the twelve months ended March 31, 2007 reached a record $217,328,000, an increase of $66,386,000 or 44%, over the $150,942,000 in net sales reported for the twelve months ended March 31, 2006. Net income for the period was a record $12,969,000 or $.82 per basic share ($.80 per diluted share), an increase of $1,508,000 or 13%, as compared with $11,461,000 or $.73 per basic share ($.72 per diluted share), reported for the comparable quarter in fiscal 2006. 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. This marks the twelfth consecutive year of record revenue and tenth consecutive year of record net income.
