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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 1998
MEDICAL ACTION INDUSTRIES INC.
(Exact name of registrant as specified in its charter)
Delaware 0-13251 11-2421849
(State or other (Commission (IRS Employer
jurisdiction of File No.) Identification No.)
incorporation)
150 Motor Parkway, Hauppauge, NY 11788
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 231-4600
Not Applicable
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
On January 15, 1998 Ernst & Young LLP ("Ernst & Young") was dismissed by the
Registrant as the Registrant's auditors and Grant Thornton LLP was engaged to
audit the Registrant's financial statements for the year ending March 31, 1998.
The change in auditors was approved by the Audit Committee of the Board of
Directors of the Registrant.
Ernst & Young's reports on the Registrant's financial statements for the past
two (2) years did not contain an adverse opinion or disclaimer of opinion and
were not qualified or modified as to uncertainty, audit scope, or accounting
principles.
During the Registrant's two (2) most recent fiscal years and subsequent interim
period preceding the dismissal, there were no disagreements with Ernst & Young
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreement, if not resolved
to the satisfaction of Ernst & Young would have caused them to make reference to
their subject matter of the disagreement in connection with its report.
The Registrant has furnished a copy of the disclosure contained herein to Ernst
& Young requesting such firm to respond as to whether it agrees or disagrees
with the statements herein with respect to such firm and Ernst & Young has
agreed, as required by Item 304 of Regulation S-K, to furnish to the Registrant
a letter addressed to the Securities and Exchange Commission to that effect. A
copy of such letter is filed as an Exhibit hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
16. Letter of Ernst & Young LLP dated January 23, 1998
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Medical Action Industries Inc.
By: /s/ Richard G. Satin
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Richard G. Satin
Vice President-Operations
and General Counsel
Dated: January 23, 1998
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January 23, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated January 23, 1998 of Medical Action
Industries Inc. and are in agreement with the statements contained in the second
and third paragraphs and in the first sentence of the fourth paragraph on page 2
therein. We have no basis to agree or disagree with other statements of the
registrant contained therein.
/s/ Ernst & Young LLP
Exhibit 16
