Wednesday, August 27, 2014
Inquirer Daily News

Met-Pro's annual sales top $100 million

The Harleysville maker of pollution control equipment reported higher sales and earnings thanks to higher bookings in emerging markets.

Met-Pro's annual sales top $100 million

As the end of the first quarter and onslaught of earnings news approaches, you can usually see the slowdown in press release manufacturing at companies.

However, not all companies are preparing to unveil the financial results of the first quarter. Take Harleysville-based Met-Pro Corp. which released results for its fourth quarter and full year ended Jan. 31. (Here is a link to a PDF file of those results.)

Annual sales of the maker of pollution control and other environmental equipment topped $100 million compared with $88.9 million for the previous year. Net income was $7.1 million, or 48 cents per share, vs. $6.1 million, or 42 cents per share, for the year ended Jan. 31, 2011.

Met-Pro reported net income of $2.1 million, or 15 cents per share, on net sales of $28.4 million for its fourth quarter. Those net sales were up 19 percent, while net income was up 22 percent and EPS up 25 percent over the year-ago quarter.

Where's the growth coming from? Met-Pro CEO Raymond J. De Hont said the company saw increased booking from South America, Russia, Singapore and China.

Want a financial history lesson from Federal Reserve chairman Ben Bernanke? Tune in Thursday at 12:45 p.m. for the second of his lectures at George Washington University. They're being live-streamed here and archived on this same site.

Finally, those weekly jobless claims numbers keep getting better. The U.S. Labor Department said claims for unemployment insurance fell by 5,000 to 348,000 from last week's revised figure of 353,000. The four-week moving average is down to 355,000.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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