Medical Action Industries Inc. announced unaudited consolidated financial results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales of $109.4 million against $113.0 million a year ago. Operating loss was $75.4 million against operating income of $3.8 million a year ago. Loss before income taxes and extraordinary item was $76.6 million or $3.39 per diluted share against income before income taxes and extraordinary item of $2.6 million or $0.11 per diluted share a year ago. Net loss was $55.5 million or $3.39 per basic and diluted share against net income of $1.8 million or $0.11 per basic and diluted share a year ago. Non-GAAP net income was $1.6 million or $0.10 per diluted share against nil a years ago. EBITDA, as adjusted was $6.1 million against $3.8 million a year ago. LBITDA was $73.2 million as compared to EBITDA of $6.3 million for the same period prior year. This decrease in net sales is the result in part from management's efforts to focus on profitable business and to decrease or eliminate unprofitable or non-core sales. For the nine months, the company reported net sales of $333.7 million against $329.1 million a year ago. Operating loss was $73.1 million against operating income of $6.7 million a year ago. Loss before income taxes and extraordinary item was $76.7 million or $3.39 per diluted share against income before income taxes and extraordinary item of $3.3 million or $0.13 per diluted share a year ago. Net loss was $55.6 million or $3.39 per diluted share against net income of $2.6 million or $0.16 per diluted share a year ago. Non-GAAP net income was $2 million or $0.120 per diluted share against $0.4 million or $0.03 per diluted share a year ago. EBITDA, as adjusted was $14.1 million against $12.5 million a year ago. LBITDA was $66.4 million as compared to EBITDA of $15.1 million for the same period prior year. During the nine months ended December 31, 2012, the company generated $17.5 million in cash from operations. For the fourth quarter of 2012, the company reported goodwill impairment charge of $78.6 million.

Medical Action Industries Inc., Q3 2013 Earnings Call, Feb 11, 2013

Medical Action Industries Inc. announced that they will report Q3, 2013 results at 9:00 AM, Eastern Standard Time on Feb 11, 2013