Medical Action Industries (MDCI +16%) moves higher after its FQ4 bottom line blows out estimates...

|About: Medical Action Industries Inc. (MDCI)|By:, SA News Editor

Medical Action Industries (MDCI +16%) moves higher after its FQ4 bottom line blows out estimates earlier this morning, overshadowing a miss in top line revenue. The surgical product supplier cites cost savings initiatives as a result of its restructuring into strategic business units begun in June 2012, plus an elimination of unprofitable sales and a reduction in raw material costs for the boost to margins. Gross profit was 17.5% of net sales, as compared to 15.2% in the prior quarter.