Met-Pro sales, profits up for 2Q

Met-Pro Corp. said today that net sales increased, new order bookings were up, and the backlog of orders was up in the second quarter, which ended July 31.

Net income for the Harleysville maker of product-recovery, pollution-control, and fluid-handling equipment was $1.6 million (11 cents a share), over $1.2 million (8 cents a share) in the previous year's second quarter.

Net sales were $21.4 million, up 2.6 percent, on new-order bookings that increased to $22.1 million (up 14 percent).

As of the end of the quarter, the company said, the backlog of orders was $17.7 million, up 35 percent, with the expectation that all the orders would be shipped by the end of the fiscal year.

"We are encouraged that the increase in new order bookings both in the second quarter and year-to-date was achieved without the benefit of any material contribution from large projects, the timing of which remains unpredictable," said Raymond J. De Hont, chairman and chief executive officer. "Large project quotation activity, however, remains steady adding to an already significant pipeline of opportunities."

Company shares were priced at $9.21, up 4 cents, in late-morning trading.    - Roslyn Rudolph