BUSINESS SEGMENT DATA

3 Months Ended

Apr. 30, 2012

BUSINESS SEGMENT DATA [Abstract]

BUSINESS SEGMENT DATA

NOTE 9 - BUSINESS SEGMENT DATA

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 meet the criteria for aggregation.

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 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 Company follows the practice of allocating general corporate expenses, including depreciation and amortization expense, among the reporting segments.

The financial segmentation information is presented in the following table:

	Three Months Ended April 30,
	2012		2011
Net sales
Product Recovery/Pollution Control Technologies	$10,500,840		$8,331,972
Fluid Handling Technologies	9,400,199		9,553,104
Mefiag Filtration Technologies	2,852,166		3,139,917
Filtration/Purification Technologies	2,453,856		2,404,910
	$25,207,061		$23,429,903
Income (loss) from operations
Product Recovery/Pollution Control Technologies	($443,062	)	($480,285	)
Fluid Handling Technologies	2,384,370		2,240,696
Mefiag Filtration Technologies	(72,088	)	221,472
Filtration/Purification Technologies	(122,364	)	101,093
	$1,746,856		$2,082,976

	April 30,	January 31,
	2012	2012
Identifiable assets
Product Recovery/Pollution Control Technologies	$34,977,794	$36,444,763
Fluid Handling Technologies	19,136,649	19,290,035
Mefiag Filtration Technologies	15,086,547	14,017,572
Filtration/Purification Technologies	8,985,779	8,368,652
	78,186,769	78,121,022
Corporate	35,669,058	37,388,193
	$113,855,827	$115,509,215