(By Balaseshan) Met-Pro Corp. (NYSE: MPR), which makes product recovery and pollution control equipment, said its unit has received an order worth $600,000 to supply a Systems brand regenerative thermal oxidizer.
The company's Environmental Air Solutions business unit has received an order from a major Canadian alternative energy company for the purification of landfill gases at a renewable energy facility. The order is expected to ship in the third quarter of the company's current fiscal year.
The oxidizer system is a unique Met-Pro design which is integrated into the customer's proprietary process to improve the fuel quality of naturally produced methane gas.
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On January 23, the company's Environmental Air Solutions unit has received an order in excess of $500,000 to supply a Duall brand air pollution control system to a global electronics manufacturer. This order is expected to ship in the first quarter of next fiscal year, which begins February 1, 2013.
On January 7, the Environmental Air Solutions unit has received a $2.1 million order from a global manufacturer of consumer and industrial building products to supply a Bio-Reaction brand biological air pollution control system. This order is expected to ship in the third quarter of next fiscal year.
On December 20, the company said its board of directors has declared a quarterly dividend of $0.0725 per share, payable on March 15 to shareholders of record at the close of business on March 1.
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On December 6, the company reported third-quarter earnings of $2.79 million or $0.19 per share, up from $2.08 million or $0.14 per share last year. Net sales grew 18% to $29.76 million.
New orders received in the third quarter were $24.4 million, compared with $27.5 million last year. The company's backlog of orders entering the fourth quarter totaled $28.6 million, which is equal to the order backlog at the same point last year.
MPR is trading up 0.20% at $9.95 on Tuesday. The stock has been trading between $8.30 and $11 for the past 52 weeks.