BUSINESS SEGMENT DATA

9 Months Ended

Oct. 31, 2011

BUSINESS SEGMENT DATA [Abstract]

BUSINESS SEGMENT DATA

NOTE 12 - BUSINESS SEGMENT DATA

The segment discussion outlined below represents the adjusted segment structure as determined by management in accordance with FASB ASC Topic 280, "Segment Reporting".

As reported in the Company's Annual Report on Form 10-K as of January 31, 2011, the Company has five operating segments which are aggregated into three reportable segments: Product Recovery/Pollution Control Technologies, Fluid Handling Technologies and Mefiag Filtration Technologies, and one other segment (Filtration/Purification Technologies). The Filtration/Purification Technologies segment is comprised of two operating segments that do not meet the criteria for aggregation outlined in ASC Topic 280-10-50-12. The Company's analysis is that ASC Topic 280-10-50-12 permits the aggregation of operating segments if, individually, each operating segment does not meet any of the following quantitative thresholds: (i) reported revenue is 10% or more of combined revenue of all reported operating segments, (ii) the absolute amount of reported profit or loss is 10% or more of the greater, in absolute amounts, of either the combined reported profit of all operating segments that did not report a loss or the combined reported loss of all operating segments that did report a loss, and (iii) its assets are 10% or more of the combined assets of all operating segments.  As of the fiscal quarter ended October 31, 2011, none of the operating segments included in the Filtration/Purification Technologies segment met these criteria, and at least 75% of total consolidated revenue was included in the Product Recovery/Pollution Control Technologies, Fluid Handling Technologies and Mefiag Filtration Technologies reporting segments; therefore, the Company determined the aggregation of these operating segments into this other segment was appropriate under ASC Topic 280-10-50-12.

The Company expects, based upon the current financial performance of its business units, the segmentation reporting will continue to be presented in future periods using the three reportable segments and the one other segment.

The following is a description of each segment:

Product Recovery/Pollution Control Technologies: This reportable segment consists of one operating segment that manufactures products for the purification of air or liquids.  Many of these products are custom designed and engineered to solve a customer's product recovery or pollution control issues.  The products are sold worldwide through Company sales personnel and a network of manufacturer's representatives.  This reporting segment is comprised of the following business units: Met-Pro Environmental Air Solutions (the combination of the Duall, Systems, Flex-Kleen, Met-Pro Industrial Services and Bio-Reaction Industries product brands), Met-Pro Product Recovery/Pollution Control Technologies Inc. and Strobic Air Corporation.

Fluid Handling Technologies: This reportable segment consists of one operating segment that manufactures high quality centrifugal pumps that are suitable for difficult applications including the pumping of acids, brines, caustics, bleaches, seawater, high temperature liquids and a wide variety of waste liquids.  A variety of pump configurations make these products adaptable to almost any pumping application.  These products are sold worldwide through an extensive network of distributors.  This reporting segment is comprised of the Met-Pro Global Pump Solutions (the combination of the Dean Pump, Fybroc and Sethco product brands) business unit.

Mefiag Filtration Technologies:  This reportable segment consists of one operating segment that produces filter systems using horizontal disc technology for tough, corrosive applications in the plating, metal finishing and printing industries.  These products are sold worldwide through Company sales personnel and a network of distributors.  This reporting segment is comprised of the Mefiag, Mefiag B.V. and Mefiag (Guangzhou) Filter Systems Ltd. business units.

Filtration/Purification Technologies: This other segment consists of two operating segments that produce the following products: cartridges and filter housings, filtration products for difficult industrial air and liquid applications, and proprietary chemicals for the treatment of municipal drinking water systems and boiler and cooling tower systems.  This other segment is comprised of the Keystone Filter and Pristine Water Solutions Inc. operating segments.

The accounting policies of the reporting segments are the same as those described in the summary of significant accounting policies. The Company evaluates the performance of these segments based on many factors including sales, sales trends, margins and operating performance.

No significant intercompany revenue is realized in these reporting segments. Interest income and expense are not included in the measure of segment profit reviewed by management. Income taxes are also not included in the measure of segment operating profit reviewed by management.

The financial segmentation information, adjusted as a result of the ASC Topic 280 aggregation criteria, is shown below:

	Nine Months Ended		Three Months Ended
	October 31,		October 31,
	2011	2010	2011	2010
Net sales
Product Recovery/Pollution Control Technologies	$29,851,166	$29,924,788	$11,893,296	$9,204,381
Fluid Handling Technologies	24,307,152	20,070,626	7,346,897	7,031,096
Mefiag Filtration Technologies	9,630,925	7,421,375	3,286,624	2,478,656
Filtration/Purification Technologies	7,975,134	7,681,848	2,718,314	2,670,541
	$71,764,377	$65,098,637	$25,245,131	$21,384,674
Income from operations
Product Recovery/Pollution Control Technologies	$534,986	$1,483,092	$1,064,314	$324,695
Fluid Handling Technologies	5,890,077	4,166,526	1,747,678	1,563,262
Mefiag Filtration Technologies	517,572	459,248	127,022	89,283
Filtration/Purification Technologies	366,046	483,106	64,198	204,662
	$7,308,681	$6,591,972	$3,003,212	$2,181,902
	October 31,	January 31,
	2011	2010
Identifiable assets
Product Recovery/Pollution Control Technologies	$35,446,058	$34,003,251
Fluid Handling Technologies	18,855,469	18,114,257
Mefiag Filtration Technologies	14,476,332	12,814,143
Filtration/Purification Technologies	8,376,056	8,369,385
	77,153,915	73,301,036
Corporate	35,169,909	34,745,292
	$112,323,824	$108,046,328