Met-Pro second-quarter earnings rise 31 percent as bookings increase

Met-Pro 2Q earnings rise 31 percent

HARLEYSVILLE, Pa. — Met-Pro Corp., maker of pumps, filters and water-treatment equipment, said Thursday that its second-quarter earnings rose 31 percent on higher quarterly bookings.

The company reported net income of $1.55 million, or 11 cents per share, up from $1.18 million, or 8 cents per share, a year earlier.

Sales rose to $21.43 million, up from $20.88 million.

Met-Pro said its margins improved and its bookings rose 14 percent for the quarter.

But the results fell short of analyst expectations, and Met-Pro’s shares fell.

Analysts polled by Thomson Reuters on average expected Met-Pro to report quarterly earnings of 12 cents per share on revenue of $22.93 million.

The shares fell 18 cents, or nearly 2 percent, to close at $8.99.