BUSINESS SEGMENT DATA

6 Months Ended

Jul. 31, 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, that the current segment reporting will be presented in periods in the foreseeable future 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 based upon a percentage of sales.

The financial segmentation information is presented in the following table:

	Six Months Ended				Three Months Ended
	July 31,				July 31,
	2012		2011		2012		2011
Net sales
Product Recovery/Pollution Control Technologies	$23,694,236		$17,957,870		$13,193,396		$9,625,898
Fluid Handling Technologies	17,715,506		16,960,255		8,315,307		7,407,151
Mefiag Filtration Technologies	6,375,331		6,344,301		3,523,165		3,204,384
Filtration/Purification Technologies	5,419,230		5,256,820		2,965,374		2,851,910
	$53,204,303		$46,519,246		$27,997,242		$23,089,343
Income (loss) from operations
Product Recovery/Pollution Control Technologies	($912,229	)	($529,328	)	($469,167	)	($49,043	)
Fluid Handling Technologies	4,747,658		4,142,399		2,363,288		1,901,703
Mefiag Filtration Technologies	295,813		390,550		367,901		169,078
Filtration/Purification Technologies	35,755		301,848		158,119		200,755
	$4,166,997		$4,305,469		$2,420,141		$2,222,493
	July 31,		January 31,
	2012		2012
Identifiable assets
Product Recovery/Pollution Control Technologies	$37,284,193		$36,444,763
Fluid Handling Technologies	18,815,811		19,290,035
Mefiag Filtration Technologies	14,916,983		14,017,572
Filtration/Purification Technologies	8,419,428		8,368,652
	79,436,415		78,121,022
Corporate	33,342,172		37,388,193
	$112,778,587		$115,509,215