----

----

|   | Pennsylvania                                            |   | 23-1683282                         |   |
|--------|---------------------------------------------------------|--------|------------------------------------|--------|
|   | (State                or other jurisdiction of          |   | (I.R.S.                Employer    |   |
|   | incorporation                or organization)           |   | Identification                No.) |   |
|   |                                                    |   |                               |   |
|   | 160                Cassell Road, P.O. Box 144           |   |                               |   |
|   | Harleysville,                Pennsylvania               |   | 19438                              |   |
|   | (Address                of principal executive offices) |   | (Zip                Code)          |   |

| Indicate                  by check mark whether the Registrant (1) has filed all reports                  required to                  be filed by Section 13 or 15(d) of the Securities Exchange Act                  of 1934                  during the preceding 12 months (or for such shorter period that                  the                  registrant was required to file such reports), and (2) has been                  subject to                  such filing requirements for the past 90 days. Yes [ X ]                     No [   ] |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate                  by check mark whether the Registrant is a large accelerated filer,                  an                  accelerated filer or a non-accelerated filer. See definition of                  “accelerated filer and large accelerated filer” in Rule 12b-2 of the                  Exchange Act. Large accelerated filer [   ] Accelerated filer [                  X ] Non-accelerated filer [   ]                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate                  by check mark whether the Registrant is a shell company (as defined                  in                  Rule 12b-2 of the Exchange Act). Yes [   ]   No [ X                  ]                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|        As                  of October 31, 2007 the Registrant had 11,279,272 Common Shares,                  par value                  of $.10 per share, issued and outstanding (adjusted for a four-for-three                  stock split which was paid on November 14, 2007 to shareholders                  of record                  November 1, 2007, the Registrant had 15,039,030 Common Shares issued                  and                  outstanding).                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

----

----

----

|   | · | Part                I – Item 1 – Financial Statements |
|--------|--------|-------------------------------------------------------------------|

|   | · | Part                I – Item 2 – Management’s Discussion and Analysis of Financial Condition                and Results of Operations |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Part                I – Item 4 – Controls and Procedures |
|--------|--------|----------------------------------------------------------------------|

|   | · | Part                II – Item 6 – Exhibits |
|--------|--------|--------------------------------------------------------|

----

ORPORA

| PART                I – FINANCIAL INFORMATION |                                                                                                                                                 |
|-----------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                |                                                                                                                                                 |   |   |
| Item                1.                              |                                                                                                                                                 | Financial                Statements |   |
|                                                |                                                                                                                                                 |   |   |
|                                                | Consolidated              Balance Sheet (Restated) as of October 31, 2007              and January 31, 2007                                          | 3 |
|                                                | Consolidated              Statement of Operations (Restated) for the nine-month and three-month              periods ended October 31, 2007 and 2006 | 4 |
|                                                | Consolidated              Statement of Shareholders’ Equity (Restated) for              the nine-month periods ended October 31, 2007 and 2006 | 5 |
|                                                | Consolidated              Statement of Cash Flows (Restated) for the              nine-month periods ended October 31, 2007 and 2006                 | 6 |
|                                                | Notes              to Consolidated Financial Statements                                                                                              | 7 |
|                                                | Report              of Independent Registered Public Accounting Firm                                                                                 | 18 |
|                                                |                                                                                                                                                 |   |   |
| Item                2.                              |                                                                                                                                                 | Management’s                Discussion and Analysis of Financial Condition and Results of Operations                (Restated) | 19 |
|                                                |                                                                                                                                                 |   |   |
| Item                3.                              |                                                                                                                                                 | Qualitative                and Quantitative Disclosures about Market Risk | 26 |
|                                                |                                                                                                                                                 |   |   |
| Item                4.                              |                                                                                                                                                 | Controls                and Procedures (Restated) | 26 |
|                                                |                                                                                                                                                 |   |   |
|                                                |                                                                                                                                                 |   |   |
| PART                II – OTHER INFORMATION    |                                                                                                                                                 |
|                                                |                                                                                                                                                 |   |   |
| Item                1.                              |                                                                                                                                                 | Legal                Proceedings | 28 |
|                                                |                                                                                                                                                 |   |   |
| Item                1A.                             |                                                                                                                                                 | Risk                Factors | 28 |
|                                                |                                                                                                                                                 |   |   |
| Item                2.                              |                                                                                                                                                 | Unregistered                Sales of Equity Securities and Use of Proceeds | 29 |
|                                                |                                                                                                                                                 |   |   |
| Item                3.                              |                                                                                                                                                 | Defaults                Upon Senior Securities | 29 |
|                                                |                                                                                                                                                 |   |   |
| Item                4.                              |                                                                                                                                                 | Submission                of Matters to a Vote of Security                Holders | 29 |
|                                                |                                                                                                                                                 |   |   |
| Item                5.                              |                                                                                                                                                 | Other                Information | 29 |
|                                                |                                                                                                                                                 |   |   |
| Item                6.                              |                                                                                                                                                 | Exhibits | 30 |
|                                                |                                                                                                                                                 |   |   |
| SIGNATURES                                          |                                                                                                                                                 |   | 31 |

----

Index

MET-PRO        CORPORATION

| PART                I – FINANCIAL                INFORMATION                                                                                        |   |                       |                     |   |                       |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------------------------|--------|----------------------------|--------|
|                                                                                                                                                      |   |                       |                     |   |                       |   |
| Item                1.  Financial                Statements                                                                                     |   |                       |                     |   |                       |   |
|                                                                                                                                                      |   |                       |                     |   |                       |   |
|                                                                                                                                                      |   | October                31, |                     |   | January                31, |   |
| ASSETS                                                                                                                                                    |   | 2007                       |                     |   | 2007                       |   |
| Current                assets                                                                                                                             |   | (Restated)                 |                     |   | (Restated)                 |   |
| Cash                and cash                equivalents                                                                                                   |   | $                          | 20,770,697               |   |                       | $      | 17,322,194 |   |
| Marketable                securities                                                                                                                      |   |                       | 22,761                   |   |                       |   | 24,090 |   |
| Accounts                receivable, net of                allowance for doubtful                                                                          |   |                       |                     |   |                       |   |   |   |
|                       accounts of approximately              $171,000              and $133,000,respectively |   |                       | 18,839,340          |   |                       |   | 19,988,097  |   |
| Inventories                                                                                                                                               |   |                       | 22,535,681               |   |                       |   | 19,720,842 |   |
| Prepaid                expenses, deposits and                other current assets                                                                         |   |                       | 2,051,979                |   |                       |   | 1,748,130 |   |
| Total                current                assets                                                                                                        |   |                       | 64,220,458               |   |                       |   | 58,803,353 |   |
|                                                                                                                                                      |   |                       |                     |   |                       |   |   |   |
| Property,                plant and equipment,                net                                                                                          |   |                       | 19,322,717               |   |                       |   | 16,832,988 |   |
| Costs                in excess of net assets of                businesses acquired, net                                                                   |   |                       | 20,798,913               |   |                       |   | 20,798,913 |   |
| Other                assets                                                                                                                               |   |                       | 288,228                  |   |                       |   | 306,403 |   |
| Total                assets                                                                                                                               |   | $                          | 104,630,316              |   |                       | $      | 96,741,657 |   |
|                                                                                                                                                      |   |                       |                     |   |                       |   |   |   |
| LIABILITIES                AND SHAREHOLDERS'                EQUITY                                                                                        |   |                       |                     |   |                       |   |   |   |
| Current                liabilities                                                                                                                        |   |                       |                     |   |                       |   |   |   |
| Current                portion of long-term                debt                                                                                           |   | $                          | 2,013,282                |   |                       | $      | 1,955,202 |   |
| Accounts                payable                                                                                                                           |   |                       | 5,434,701                |   |                       |   | 6,419,951 |   |
| Accrued                salaries, wages and                expenses                                                                                        |   |                       | 5,598,191                |   |                       |   | 4,005,300 |   |
| Dividend                payable                                                                                                                           |   |                       | 826,771                  |   |                       |   | 757,029 |   |
| Customers'                advances                                                                                                                        |   |                       | 591,896                  |   |                       |   | 981,680 |   |
| Deferred                income                taxes                                                                                                       |   |                       | 242,457                  |   |                       |   | 245,231 |   |
| Total                current                liabilities                                                                                                   |   |                       | 14,707,298               |   |                       |   | 14,364,393 |   |
|                                                                                                                                                      |   |                       |                     |   |                       |   |   |   |
| Long-term                debt                                                                                                                             |   |                       | 4,273,807                |   |                       |   | 5,417,990 |   |
| Other                non-current                liabilities                                                                                               |   |                       | 3,293,511                |   |                       |   | 3,276,551 |   |
| Deferred                income                taxes                                                                                                       |   |                       | 2,301,030                |   |                       |   | 1,369,591 |   |
| Total                liabilities                                                                                                                          |   |                       | 24,575,646               |   |                       |   | 24,428,525 |   |
|                                                                                                                                                      |   |                       |                     |   |                       |   |   |   |
| Shareholders'                equity                                                                                                                       |   |                       |                     |   |                       |   |   |   |
| Common                shares, $.10 par value;                18,000,000                shares                                                             |   |                       |                     |   |                       |   |   |   |
|                      authorized, 15,928,810              and 12,846,608              shares              issued,       |   |                       |                     |   |                       |   |   |   |
|                      of which 889,780and              1,631,364 shares were              reacquired                    |   |                       |                     |   |                       |   |   |   |
|                      and held in treasury at the respective dates                                                      |   |                       | 1,194,661           |   |                       |   | 1,284,661  |   |
| Additional                paid-in                capital                                                                                                  |   |                       | 2,182,846                |   |                       |   | 7,910,708 |   |
| Retained                earnings                                                                                                                          |   |                       | 80,904,318               |   |                       |   | 74,657,888 |   |
| Accumulated                other comprehensive                income (loss)                                                                               |   |                       | 627,736                  |   |                       |   | (33,471 | ) |
| Treasury                shares, at                cost                                                                                                    |   |                       | (4,854              ,891 | )      |                       |   | (11,506,654 | ) |
| Total                shareholders'                equity                                                                                                  |   |                       | 80,054,670               |   |                       |   | 72,313,132 |   |
| Total                liabilities and                shareholders' equity                                                                                  |   | $                          | 104,630,316              |   |                       | $      | 96,741,657 |   |
| See                accompanying notes to                consolidated financial statements.                                                                |   |                       |                     |   |                       |

----

Index

MET-PRO      

|                                                                                          |   | Nine                Months                EndedOctober                31, |       |   | Three                Months                EndedOctober                31, |   |
|-----------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|------------|--------|----------------------------------------------------------------------------|--------|
|                                                                                          |   | 2007                                                                      |       |   | 2006                                                                       |   |   | 2007 |   |   | 2006 |   |
|                                                                                          |   | (Restated)                                                                |       |   | (Restated)                                                                 |   |   | (Restated) |   |   | (Restated) |   |
| Net                sales                                                                      |   | $                                                                         | 75,007,194 |   |                                                                       | $      | 68,566,778 |   |   | $ | 29,042,650 |   |   | $ | 25,008,855 |   |
| Cost                of goods                sold                                              |   |                                                                      | 50,645,297 |   |                                                                       |   | 47,817,655 |   |   |   | 19,497,870 |   |   |   | 16,849,581 |   |
| Gross                profit                                                                   |   |                                                                      | 24,361,897 |   |                                                                       |   | 20,749,123 |   |   |   | 9,544,780 |   |   |   | 8,159,274 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Operating                expenses                (income)                                     |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Selling                                                                                       |   |                                                                      | 6,715,332  |   |                                                                       |   | 6,269,844 |   |   |   | 2,125,554 |   |   |   | 2,297,478 |   |
| General                and                administrative                                      |   |                                                                      | 8,373,726  |   |                                                                       |   | 7,396,505 |   |   |   | 2,966,465 |   |   |   | 2,856,574 |   |
| (Gain)                loss on sale of                building                                 |   |                                                                      | (3,513,940 | )      |                                                                       |   | - |   |   |   | - |   |   |   | - |   |
|                                                                                          |   |                                                                      | 11,575,118 |   |                                                                       |   | 13,666,349 |   |   |   | 5,092,019 |   |   |   | 5,154,052 |   |
| Income                from                operations                                          |   |                                                                      | 12,786,779 |   |                                                                       |   | 7,082,774 |   |   |   | 4,452,761 |   |   |   | 3,005,222 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense                                                               |   |                                                                      | (240,394   | )      |                                                                       |   | (256,519 | ) |   |   | (69,696 | ) |   |   | (109,205 | ) |
| Other                income,                net                                               |   |                                                                      | 745,131    |   |                                                                       |   | 759,712 |   |   |   | 228,738 |   |   |   | 254,461 |   |
| Income                before                taxes                                             |   |                                                                      | 13,291,516 |   |                                                                       |   | 7,585,967 |   |   |   | 4,611,803 |   |   |   | 3,150,478 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Provision                for                taxes                                             |   |                                                                      | 4,575,645  |   |                                                                       |   | 2,503,368 |   |   |   | 1,544,951 |   |   |   | 1,084,012 |   |
| Net                income                                                                     |   | $                                                                         | 8,715,871  |   |                                                                       | $      | 5,082,599 |   |   | $ | 3,066,852 |   |   | $ | 2,066,466 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Earnings                per share, basic                (1)                (2)                |   | $                                                                         | .58        |   |                                                                       | $      | .34 |   |   | $ | .20 |   |   | $ | .14 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Earnings                per share, diluted                (1)                (3)              |   | $                                                                         | .57        |   |                                                                       | $      | .33 |   |   | $ | .20 |   |   | $ | .14 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Cash                dividend per share – declared                (1)                (4) |   | $                                                                         | .1562      |   |                                                                       | $      | .1444 |   |   | $ | .0550 |   |   | $ | .0506 |   |
|                                                                                          |   |                                                                      |       |   |                                                                       |   |   |   |   |   |   |   |   |   |   |   |
| Cash                dividend per share – paid                (1)                (4)     |   | $                                                                         | .1518      |   |                                                                       | $      | .1406 |   |   | $ | .0506 |   |   | $ | .0469 |   |

|   | (1) | On                October 17, 2007, the Board of                Directors declared a four-for-three stock split which was paid on                November                14, 2007 to shareholders of record on November 1, 2007.  All                references in the financial statements to per share amounts and number                of                shares outstanding have been restated to reflect the effect of the                stock                split, except for the shares outstanding and shares held in treasury                as of                January 31, 2007 in the Shareholders’ Equity section of the Consolidated                Balance Sheet. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Basic                earnings per share are based                upon the weighted average number of shares outstanding of 14,989,673                and                14,939,680 for the nine-month periods ended October 31, 2007 and                2006,                respectively, and 14,983,501 and 14,938,068 for the three-month periods                ended October 31, 2007 and 2006,                respectively. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Diluted                earnings per share are                based upon the weighted average number of shares outstanding of 15,324,527                and 15,179,735 for the nine-month periods ended October 31, 2007                and 2006,                respectively, and 15,312,924 and 15,176,329 for the three-month periods                ended October 31, 2007 and 2006,                respectively. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | The                Board of Directors declared                quarterly dividends of $.0506 per                share payable on March 14, 2007, June 12,                2007, and September 10, 2007 to shareholders of record as of February                28,                2007, May 29, 2007, and August 27, 2007, respectively, and a quarterly                dividend of                $.0550 per share payable on December 10, 2007 to shareholders of                record on                November 26, 2007.  Quarterly dividends                of                $.0469per                share were paid on March 9,                2006, June 7, 2006,                and September 6, 2006 to shareholders of record as of February 24,                2006,                May 26, 2006, and August 24, 2006, respectively, and a quarterly                dividend                of $.0506 per share payable on December 14, 2006 to shareholders                of record                on November                30,                2006. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

MET-PRO      

|                                                                         |   |   |      |   |       |   |       |     |   |   | Accumulated   |   |   |     |    |   |   |   |
|------------------------------------------------------------------------------|--------|--------|-----------|--------|------------|--------|------------|----------|--------|--------|---------------|--------|--------|----------|---------|--------|--------|--------|
|                                                                         |   |   |      |   | Additional |   |       |     |   |   | Other         |   |   |     |    |   |   |   |
|                                                                         |   | Common |      |   | Paid-in    |   |       | Retained |   |   | Comprehensive |   |   | Treasury |    |   |   |   |
|                                                                         |   | Shares |      |   | Capital    |   |       | Earnings |   |   | Income/(Loss) |   |   | Shares   |    |   | Total  |   |
| January                  31, 2007                  Balances, (Restated) |   | $      | 1,284,661 |   |       | $      | 7,910,708  |     |   | $      | 74,657,888    |   |   | $        | (33,471 | )      |   | $      | (11,506,654 | ) |   | $ | 72,313,132 |   |
|                                                                         |   |   |      |   |       |   |       |     |   |   |          |   |   |     |    |   |   |   |   |   |   |   |   |   |
| Comprehensive                  income:                                       |   |   |      |   |       |   |       |     |   |   |          |   |   |     |    |   |   |   |   |   |   |   |   |   |
| Net                  income                  (Restated)                      |   |   | -         |   |       |   | -          |     |   |   | 8,715,871     |   |   |     | -       |   |   |   | - |   |   |   |   |   |
| Adoption                  of FIN No.                  48                     |   |   | -         |   |       |   | -          |     |   |   | (125,000      | )      |   |     | -       |   |   |   | - |   |   |   |   |   |
| Foreign                  currency translation                  adjustment    |   |   | -         |   |       |   | -          |     |   |   | -             |   |   |     | 613,965 |   |   |   | - |   |   |   |   |   |
| Interest                  rate swap,                                         |   |   | -         |   |       |   | -          |     |   |   | -             |   |   |     | 48,079  |   |   |   | - |   |   |   |   |   |
| net                  of tax of ($28,237)                                |   |   |      |   |       |   |       |     |   |   |          |   |   |     |    |   |   |   |   |   |   |   |   |   |
| Securities                  available for sale,                              |   |   | -         |   |       |   | -          |     |   |   | -             |   |   |     | (837    | )      |   |   | - |   |   |   |   |   |
| net                  of tax of $492                                          |   |   |      |   |       |   |       |     |   |   |          |   |   |     |    |   |   |   |   |   |   |   |   |   |
| Total                  comprehensive                  income                 |   |   |      |   |       |   |       |     |   |   |          |   |   |     |    |   |   |   |   |   |   |   | 9,252,078 |   |
|                                                                         |   |   |      |   |       |   |       |     |   |   |          |   |   |     |    |   |   |   |   |   |   |   |   |   |
| Dividends                  paid, $.1013 per                  share           |   |   | -         |   |       |   | -          |     |   |   | (1,517,670    | )      |   |     | -       |   |   |   | - |   |   |   | (1,517,670 | ) |
| Dividends                  declared, $.0550 per                  share       |   |   | -         |   |       |   | -          |     |   |   | (826,771      | )      |   |     | -       |   |   |   | - |   |   |   | (826,771 | ) |
| Stock-based                  compensation                                    |   |   | -         |   |       |   | 382,581    |     |   |   | -             |   |   |     | -       |   |   |   | - |   |   |   | 382,581 |   |
| Stock                  option                  transactions                  |   |   | -         |   |       |   | 351,557    |     |   |   | -             |   |   |     | -       |   |   |   | 730,278 |   |   |   | 1,081,835 |   |
| Purchaseof                  51,205 treasury shares                           |   |   | -         |   |       |   | -          |     |   |   | -             |   |   |     | -       |   |   |   | (630,515 | ) |   |   | (630,515 | ) |
| Treasury                  share                  retirement                  |   |   | (90,000   | )      |       |   | (6,462,000 | )        |   |   | -             |   |   |     | -       |   |   |   | 6,552,000 |   |   |   | - |   |
| Balances,                  October 31, 2007                  (Restated)      |   | $      | 1,194,661 |   |       | $      | 2,182,846  |     |   | $      | 80,904,318    |   |   | $        | 627,736 |   |   | $      | (4,854,891 | ) |   | $ | 80,054,670 |   |

|                                                                                       |   |   |      |   |       |   |      |     |   |   | Accumulated   |   |   |     |     |   |   |   |
|--------------------------------------------------------------------------------------------|--------|--------|-----------|--------|------------|--------|-----------|----------|--------|--------|---------------|--------|--------|----------|----------|--------|--------|--------|
|                                                                                       |   |   |      |   | Additional |   |      |     |   |   | Other         |   |   |     |     |   |   |   |
|                                                                                       |   | Common |      |   | Paid-in    |   |      | Retained |   |   | Comprehensive |   |   | Treasury |     |   |   |   |
|                                                                                       |   | Shares |      |   | Capital    |   |      | Earnings |   |   | Income/(Loss) |   |   | Shares   |     |   | Total  |   |
| Balances,January                31,                2006                                    |   | $      | 1,284,661 |   |       | $      | 7,564,180 |     |   | $      | 70,645,717    |   |   | $        | (321,821 | )      |   | $      | (11,634,499 | ) |   | $ | 67,538,238 |   |
|                                                                                       |   |   |      |   |       |   |      |     |   |   |          |   |   |     |     |   |   |   |   |   |   |   |   |   |
| Comprehensive                income:                                                       |   |   |      |   |       |   |      |     |   |   |          |   |   |     |     |   |   |   |   |   |   |   |   |   |
| Net                income                                                                  |   |   | -         |   |       |   | -         |     |   |   | 5,065,215     |   |   |     | -        |   |   |   | - |   |   |   |   |   |
| Foreign                currency translation                adjustment                      |   |   | -         |   |       |   | -         |     |   |   | -             |   |   |     | 209,890  |   |   |   | - |   |   |   |   |   |
| Interest                rate swap,                                                    |   |   | -         |   |       |   | -         |     |   |   | -             |   |   |     | (10,993  | )      |   |   | - |   |   |   |   |   |
| net                of tax of ($4,846)                                                      |   |   |      |   |       |   |      |     |   |   |          |   |   |     |     |   |   |   |   |   |   |   |   |   |
| Securities                available for sale,                                              |   |   | -         |   |       |   | -         |     |   |   | -             |   |   |     | (1,022   | )      |   |   | - |   |   |   |   |   |
| net                of tax of ($504)                                                        |   |   |      |   |       |   |      |     |   |   |          |   |   |     |     |   |   |   |   |   |   |   |   |   |
| Total                comprehensive                income                                   |   |   |      |   |       |   |      |     |   |   |          |   |   |     |     |   |   |   |   |   |   |   | 5,263,090 |   |
|                                                                                       |   |   |      |   |       |   |      |     |   |   |          |   |   |     |     |   |   |   |   |   |   |   |   |   |
| Dividends                paid, $.0938 per                share                             |   |   | -         |   |       |   | -         |     |   |   | (1,400,574    | )      |   |     | -        |   |   |   | - |   |   |   | (1,400,574 | ) |
| Dividends                declared, $.0506 per                share                         |   |   | -         |   |       |   | -         |     |   |   | (757,029      | )      |   |     | -        |   |   |   | - |   |   |   | (757,029 | ) |
| Stock-based                compensation                                                    |   |   | -         |   |       |   | 245,402   |     |   |   | -             |   |   |     | -        |   |   |   | - |   |   |   | 245,402 |   |
| Stock                option                transactions                                    |   |   | -         |   |       |   | 19,328    |     |   |   | -             |   |   |     | -        |   |   |   | 127,845 |   |   |   | 147,173 |   |
| Balances,                October 31,                2006                                   |   | $      | 1,284,661 |   |       | $      | 7,828,910 |     |   | $      | 73,553,329    |   |   | $        | (123,946 | )      |   | $      | (11,506,654 | ) |   | $ | 71,036,300 |   |
| See                accompanying notes to                consolidated financial statements. |   |

----

Index

MET-PRO      

|                                                                                                                           |   | Nine                Months                Ended |       |
|--------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|
|                                                                                                                           |   | October                31,                      |       |
|                                                                                                                           |   | 2007                                            |       |   | 2006 |   |
|                                                                                                                           |   | (Restated)                                      |       |
| INCREASE                (DECREASE) IN CASH AND                CASH EQUIVALENTS                                                 |   |
|                                                                                                                           |   |                                            |       |   |   |   |
| Cash                flows from operating                activities                                                             |   |                                            |       |   |   |   |
| Net                income                                                                                                      |   | $                                               | 8,715,871  |   |   | $ | 5,082,599 |   |
| Adjustments                to reconcile net                income to net cash provided by operating                activities: |   |                                            |       |   |   |   |   |   |
| Depreciation                and                amortization                                                                    |   |                                            | 1,284,648  |   |   |   | 1,183,326 |   |
| Deferred                income                taxes                                                                            |   |                                            | 904,000    |   |   |   | (1,659 | ) |
| (Gain)loss                on sale of property and                equipment, net                                                |   |                                            | (3,540,578 | ) |   |   | 11,754 |   |
| Stock-based                compensation                                                                                        |   |                                            | 382,581    |   |   |   | 245,402 |   |
| Allowance                for doubtful                accounts                                                                  |   |                                            | 37,874     |   |   |   | (67,424 | ) |
| (Increase)                decrease in operating                assets:                                                         |   |                                            |       |   |   |   |   |   |
| Accounts                receivable                                                                                             |   |                                            | 1,444,988  |   |   |   | (1,517,623 | ) |
| Inventories                                                                                                                    |   |                                            | (2,544,845 | ) |   |   | (2,570,442 | ) |
| Prepaid                expenses, deposits and                other current assets                                              |   |                                            | (258,213   | ) |   |   | 202 |   |
| Other                assets                                                                                                    |   |                                            | (6,776     | ) |   |   | 25,421 |   |
| Increase                (decrease) in operating                liabilities:                                                    |   |                                            |       |   |   |   |   |   |
| Accounts                payable and accrued                expenses                                                            |   |                                            | 244,597    |   |   |   | 2,003,045 |   |
| Customers’                advances                                                                                       |   |                                            | (391,030   | ) |   |   | (621,249 | ) |
| Other                non-current                liabilities                                                                    |   |                                            | 16,960     |   |   |   | 1,648 |   |
| Net                cash provided by operating                activities                                                        |   |                                            | 6,290,077  |   |   |   | 3,775,000 |   |
|                                                                                                                           |   |                                            |       |   |   |   |   |   |
| Cash                flows from investing                activities                                                             |   |                                            |       |   |   |   |   |   |
| Proceeds                from sale of property and                equipment                                                     |   |                                            | 4,377,115  |   |   |   | 14,310 |   |
| Acquisitions                of property and                equipment                                                           |   |                                            | (4,200,072 | ) |   |   | (4,192,649 | ) |
| Securities                available for                sale                                                                    |   |                                            | -          |   |   |   | (21,820 | ) |
| Net                cash provided by (used in)                investing activities                                              |   |                                            | 177,043    |   |   |   | (4,200,159 | ) |
|                                                                                                                           |   |                                            |       |   |   |   |   |   |
| Cash                flows from financing                activities                                                             |   |                                            |       |   |   |   |   |   |
| Proceeds                from new                borrowings                                                                     |   |                                            | -          |   |   |   | 4,306,406 |   |
| Reduction                of                debt                                                                                |   |                                            | (1,119,526 | ) |   |   | (1,103,380 | ) |
| Exercise                of stock                options                                                                        |   |                                            | 1,081,835  |   |   |   | 147,173 |   |
| Payment                of                dividends                                                                             |   |                                            | (2,274,699 | ) |   |   | (2,100,393 | ) |
| Purchase                of treasury                shares                                                                      |   |                                            | (630,516   | ) |   |   | - |   |
| Net                cash provided by (used in)                financing activities                                              |   |                                            | (2,942,906 | ) |   |   | 1,249,806 |   |
| Effect                of exchange rate changes on                cash                                                          |   |                                            | (75,711    | ) |   |   | 29,722 |   |
|                                                                                                                           |   |                                            |       |   |   |   |   |   |
| Net                increase in cash and cash                equivalents                                                        |   |                                            | 3,448,503  |   |   |   | 854,369 |   |
|                                                                                                                           |   |                                            |       |   |   |   |   |   |
| Cash                and cash equivalents at                February 1                                                          |   |                                            | 17,322,194 |   |   |   | 17,683,305 |   |
| Cash                and cash equivalents at                October 31                                                          |   | $                                               | 20,770,697 |   |   | $ | 18,537,674 |   |
| See                accompanying notes to                consolidated financial statements.                                     |   |

----

Index

MET-PRO      

NOTES

|                                                                |   | Nine                Months EndedOctober                31, 2007 |       |   | Three                Months EndedOctober                31, 2007 |   |
|---------------------------------------------------------------------|--------|-----------------------------------------------------------------|------------|--------|------------------------------------------------------------------|--------|
|                                                                |   | As                Restated                                      |       |   | As                PreviouslyReported                             |   |   | As                Restated |   |   | As                PreviouslyReported |   |
| Consolidated                Statement of                Operations: |   |                                                            |       |   |                                                             |   |   |   |   |   |   |   |
| Net                sales                                            |   | $                                                               | 75,007,194 |   |                                                             | $      | 77,572,214 |   |   | $ | 29,042,650 |   |   | $ | 28,059,516 |   |
| Net                income                                           |   |                                                            | 8,715,872  |   |                                                             |   | 9,192,083 |   |   |   | 3,066,853 |   |   |   | 2,786,139 |   |
| Earnings                per share,                basic             |   | $                                                               | .58        |   |                                                             | $      | .61 |   |   | $ | .20 |   |   | $ | .19 |   |
| Earnings                per share,                diluted           |   | $                                                               | .57        |   |                                                             | $      | .60 |   |   | $ | .20 |   |   | $ | .18 |   |

|                                                                              |   | Period                EndedOctober                31, 2007 |       |
|-----------------------------------------------------------------------------------|--------|------------------------------------------------------------|------------|
|                                                                              |   | As                Restated                                 |       |   | As                PreviouslyReported |   |
| Consolidated                Balance                Sheet:                         |   |                                                       |       |   |   |   |
| Accounts                receivable                                                |   | $                                                          | 18,839,340 |   |   | $ | 22,639,155 |   |
| Inventory                                                                         |   |                                                       | 22,535,681 |   |   |   | 20,797,505 |   |
| Prepaid                expenses, deposits and                other current assets |   |                                                       | 2,051,979  |   |   |   | 1,549,829 |   |
| Accounts                payable                                                   |   |                                                       | 5,434,700  |   |   |   | 5,884,016 |   |
| Accrued                salaries, wages and                expenses                |   |                                                       | 5,598,191  |   |   |   | 5,968,128 |   |
| Customers’                advances                                          |   |                                                       | 591,896    |   |   |   | 591,896 |   |
| Retained                earnings                                                  |   |                                                       | 80,904,318 |   |   |   | 81,644,555 |   |

----

Index

----

Index

----

Index

|                                                  |   | Nine                Months Ended |   |
|-------------------------------------------------------|--------|----------------------------------|--------|
|                                                  |   | October                31,       |   |
|                                                  |   | 2007                             |   | 2006 |   |
| Expected                term                (years)   |   | 5.0                              |   | 5.0 |   |
| Risk-free                interest                rate |   | 4.50%                - 4.58%     |   | 3.63%                - 4.58% |   |
| Expected                volatility                    |   | 29%                - 30%         |   | 30%                - 32% |   |
| Dividend                yield                         |   | 1.86%                - 3.39%     |   | 2.26%                - 3.39% |   |

|                                                   |   |   |      |   |                          |   |   | Weighted                    |   |   |                           |   |
|---------------------------------------------------|--------|--------|-----------|--------|-------------------------------|--------|--------|-----------------------------|--------|--------|--------------------------------|--------|
|                                              |   |   |      |   | Weighted                      |   |   | Average                     |   |   |                           |   |
|                                              |   |   |      |   | Average                       |   |   | Remaining                   |   |   | Aggregate                      |   |
|                                              |   | Shares |      |   | Exercise                Price |   |   | Life                (years) |   |   | Intrinsic                Value |   |
| Options:                                          |   |   |      |   |                          |   |   |                        |   |   |                           |   |
| Outstanding                at February 1, 2007    |   |   | 1,275,921 |   |                          | $      | 8.0169 |                        |   |   | 7.49                           |   |   |   |   |
| Granted                                           |   |   | -         |   |                          |   | -      |                        |   |   |                           |   |   |   |   |
| Forfeited                                         |   |   | 16,890    |   |                          |   | -      |                        |   |   |                           |   |   |   |   |
| Expired                                           |   |   | -         |   |                          |   | -      |                        |   |   |                           |   |   |   |   |
| Exercised                                         |   |   | 136,578   |   |                          |   | 7.9211 |                        |   |   |                           |   |   |   |   |
| Outstanding                at April 30, 2007 |   |   | 1,122,453 |   |                          | $      | 7.9911 |                        |   |   | 6.73                           |   |   | $ | 5,568,938 |   |
|                                              |   |   |      |   |                          |   |   |                        |   |   |                           |   |   |   |   |   |
| Exercisable                at April 30, 2007 |   |   | 830,003   |   |                          | $      | 7.1175 |                        |   |   | 6.73                           |   |   | $ | 4,843,067 |   |

----

Index

|                            |                              |   | Options                Outstanding |   |      | Options                Exercisable |   |
|---------------------------------|-----------------------------------|--------|------------------------------------|--------|-----------|------------------------------------|--------|
|                            |                              |   |                               |   |      | Weighted                Average    |   |   |   |   |   |   |   |   |   |   |
|                            |                              |   |                               |   |      | Remaining                          |   |   | Weighted                Average |   |   |   |   |   | Weighted                Average |   |
|                            |                              |   | Shares                             |   |      | Life                (years)        |   |   | Exercise                Price |   |   | Shares |   |   | Exercise                Price |   |
| Range                of prices: |                              |   |                               |   |      |                               |   |   |   |   |   |   |   |   |   |   |
| $                               | 4.11                – 4.49  |   |                               |   | 43,973    |                               |   |   | 2.20 |   |   | $ | 4.1650 |   |   |   | 43,973 |   |   | $ | 4.165 |   |
| $                               | 4.50                – 5.24  |   |                               |   | 79,176    |                               |   |   | 3.37 |   |   |   | 5.1048 |   |   |   | 79,176 |   |   |   | 5.1048 |   |
| $                               | 5.25                – 6.74  |   |                               |   | 245,510   |                               |   |   | 4.99 |   |   |   | 5.5307 |   |   |   | 245,510 |   |   |   | 5.5307 |   |
| $                               | 6.75                – 8.99  |   |                               |   | 184,008   |                               |   |   | 7.42 |   |   |   | 7.4110 |   |   |   | 184,008 |   |   |   | 7.4110 |   |
| $                               | 9.00                – 9.74  |   |                               |   | 344,453   |                               |   |   | 7.51 |   |   |   | 9.3052 |   |   |   | 277,336 |   |   |   | 9.37 |   |
| $                               | 9.75                – 11.24 |   |                               |   | 225,333   |                               |   |   | 9.26 |   |   |   | 10.8975 |   |   |   | - |   |   |   | - |   |
|                            |                              |   |                               |   | 1,122,453 |                               |   |   | 6.73 |   |   | $ | 7.9911 |   |   |   | 830,003 |   |   | $ | 7.1175 |   |

|                            |   | October                31,2007 |       |   | January                31,2007 |   |
|---------------------------------|--------|--------------------------------|------------|--------|--------------------------------|--------|
| Raw                materials    |   | $                              | 15,129,197 |   |                           | $      | 13,596,396 |   |
| Work                in progress |   |                           | 4,740,634  |   |                           |   | 2,790,042 |   |
| Finished                goods   |   |                           | 2,665,850  |   |                           |   | 3,334,404 |   |
|                            |   | $                              | 22,535,681 |   |                           | $      | 19,720,842 |   |

|                                                           |   | Nine                Months Ended October                31, |      |
|----------------------------------------------------------------|--------|------------------------------------------------------------------|-----------|
|                                                           |   | 2007                                                             |      |   | 2006 |   |
| Cash                paid during the period                for: |   |                                                             |      |   |   |   |
| Interest                                                       |   | $                                                                | 255,828   |   |   | $ | 247,049 |   |
| Income                taxes                                    |   |                                                             | 3,592,573 |   |   |   | 2,834,775 |   |

----

Index

----

Index

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | October                31, |      |   | January                31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|-----------|--------|----------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2007                       |      |   | 2007                       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       |      |   |                       |   |
| Bond                payable, bank, payable in                quarterly                installments of $58,460, plus                interest at a rate of 16                basis points below the ninety                day LIBOR rate                (effective                interest                rate of 5.19%at                October 31, 2007), maturing                April, 2021, collateralized by the Telford,                PA                building |   | $                          | 3,156,864 |   |                       | $      | 3,332,246 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       |      |   |                       |   |   |   |
| Note                payable, bank, payable                inquarterly                installments of $300,000, plus                interest at a rate of 75                basis points over the                ninety day LIBOR rate (effective                interest rate                of 6.10%                at October 31,                2007), maturing                October, 2008                                                                         |   |                       | 1,500,000 |   |                       |   | 2,400,000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       |      |   |                       |   |   |   |
| Note                payable, bank, payable in                quarterly                installments of $36,215 (25,000 Euro), plus interest at a fixed rate                of                3.82%, maturing                January,                2016                                                                                                                                                                                                                 |   |                       | 1,195,096 |   |                       |   | 1,173,061 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       |      |   |                       |   |   |   |
| Line                of credit, $434,580 (300,000                Euro), payable                upon demand, plus interest                at a rate of 70 basis                points over the thirty day EURIBOR rate(effective                interest rate of                5.30% atOctober                31, 2007)                                                                                                                                                  |   |                       | 434,580   |   |                       |   | 391,020 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       |      |   |                       |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       | 6,286,540 |   |                       |   | 7,296,327 |   |
| Less                current                portion                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                       | 2,013,282 |   |                       |   | 1,955,202 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                       | 4,273,258 |   |                       |   | 5,341,125 |   |
| Fair                market value of interest rate                swap liability                                                                                                                                                                                                                                                                                                                                                                                         |   |                       | 549       |   |                       |   | 76,865 |   |
| Long-term                portion                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                          | 4,273,807 |   |                       | $      | 5,417,990 |   |

----

Index

| Year                Ending |   |   |      |
|----------------------------|--------|--------|-----------|
| January                31, |   |   |      |
| 2008                       |   | $      | 2,013,282 |   |
| 2009                       |   |   | 1,578,700 |   |
| 2010                       |   |   | 378,700   |   |
| 2011                       |   |   | 378,700   |   |
| 2012                       |   |   | 378,700   |   |
| Thereafter                 |   |   | 1,558,458 |   |
|                       |   | $      | 6,286,540 |   |

|                                                                                       |   | October                31, |      |   | January                31, |   |
|--------------------------------------------------------------------------------------------|--------|----------------------------|-----------|--------|----------------------------|--------|
|                                                                                       |   | 2007                       |      |   | 2007                       |   |
| Interest                rate swap, net of                tax                               |   | $                          | (346      | )      |                       | $      | (48,425 | ) |
| Unrealized                gain on securities                available-for sale, net of tax |   |                       | 593       |   |                       |   | 1,430 |   |
| Foreign                currency translation                adjustment                      |   |                       | 1,305,695 |   |                       |   | 691,730 |   |
| Minimum                pension liability                adjustment, net of tax             |   |                       | (678,206  | )      |                       |   | (678,206 | ) |
|                                                                                       |   | $                          | 627,736   |   |                       | $      | (33,471 | ) |

----

Index

|                                                            |   | Nine                Months EndedOctober                31, |    |   | Three                Months EndedOctober                31, |   |
|-----------------------------------------------------------------|--------|------------------------------------------------------------|---------|--------|-------------------------------------------------------------|--------|
|                                                            |   | 2007                                                       |    |   | 2006                                                        |   |   | 2007 |   |   | 2006 |   |
| Interest                income                                  |   | $                                                          | 745,161 |   |                                                        | $      | 736,050 |   |   | $ | 216,133 |   |   | $ | 242,066 |   |
| Other                miscellaneous income                (loss) |   |                                                       | (30     | )      |                                                        |   | 23,662 |   |   |   | 12,605 |   |   |   | 12,395 |   |
|                                                            |   | $                                                          | 745,131 |   |                                                        | $      | 759,712 |   |   | $ | 228,738 |   |   | $ | 254,461 |   |

|                                                             |   | Pension                Benefits                            |     |
|------------------------------------------------------------------|--------|------------------------------------------------------------|----------|
|                                                             |   | Nine                Months EndedOctober                31, |     |   | Three                Months EndedOctober                31, |   |
|                                                             |   | 2007                                                       |     |   | 2006 |   |   | 2007 |   |   | 2006 |   |
| Service                cost                                      |   | $                                                          | 111,192  |   |   | $ | 523,584 |   |   | $ | 37,064 |   |   | $ | 169,460 |   |
| Interest                cost                                     |   |                                                       | 780,123  |   |   |   | 764,040 |   |   |   | 260,041 |   |   |   | 228,226 |   |
| Expected                return on plan                assets     |   |                                                       | (944,625 | ) |   |   | (877,394 | ) |   |   | (314,875 | ) |   |   | (292,464 | ) |
| Amortization                of transition                asset   |   |                                                       | (1,113   | ) |   |   | (24,986 | ) |   |   | (371 | ) |   |   | (16,928 | ) |
| Amortization                of prior service                cost |   |                                                       | 26,085   |   |   |   | 62,416 |   |   |   | 8,695 |   |   |   | 13,010 |   |
| Recognized                net actuarial                loss      |   |                                                       | 30,552   |   |   |   | 63,726 |   |   |   | 10,184 |   |   |   | 12,048 |   |
| Curtailment                loss                                  |   |                                                       | -        |   |   |   | 234,180 |   |   |   | - |   |   |   | 234,180 |   |
| Net                periodic benefit                cost          |   | $                                                          | 2,214    |   |   | $ | 745,566 |   |   | $ | 738 |   |   | $ | 347,532 |   |

----

Index

----

Index

|                                                                          |   | Nine                Months EndedOctober                31, |       |   | Three                Months EndedOctober                31, |   |
|-------------------------------------------------------------------------------|--------|------------------------------------------------------------|------------|--------|-------------------------------------------------------------|--------|
|                                                                          |   | 2007                                                       |       |   | 2006                                                        |   |   | 2007 |   |   | 2006 |   |
| Net                sales                                                      |   | (Restated)                                                 |       |   | (Restated)                                                  |   |   | (Restated) |   |   | (Restated) |   |
| Product                recovery/pollution control                technologies |   | $                                                          | 38,031,207 |   |                                                        | $      | 34,768,126 |   |   | $ | 16,479,631 |   |   | $ | 12,676,874 |   |
| Fluid                handling                technologies                     |   |                                                       | 20,616,228 |   |                                                        |   | 19,440,477 |   |   |   | 7,204,658 |   |   |   | 7,416,844 |   |
| Filtration/purification                technologies                           |   |                                                       | 16,359,759 |   |                                                        |   | 14,358,175 |   |   |   | 5,358,361 |   |   |   | 4,915,137 |   |
|                                                                          |   | $                                                          | 75,007,194 |   |                                                        | $      | 68,566,778 |   |   | $ | 29,042,650 |   |   | $ | 25,008,855 |   |
|                                                                          |   |                                                       |       |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Income                from operations                                         |   |                                                       |       |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Product                recovery/pollution control                technologies |   | $                                                          | 3,890,814  |   |                                                        | $      | 2,981,498 |   |   | $ | 2,434,662 |   |   | $ | 1,575,426 |   |
| Fluid                handling                technologies                     |   |                                                       | 4,325,164  |   |                                                        |   | 3,054,544 |   |   |   | 1,592,550 |   |   |   | 1,320,796 |   |
| Filtration/purification                technologies                           |   |                                                       | 1,056,861  |   |                                                        |   | 1,046,732 |   |   |   | 425,549 |   |   |   | 109,000 |   |
|                                                                          |   |                                                       | 9,272,839  |   |                                                        |   | 7,082,774 |   |   |   | 4,452,761 |   |   |   | 3,005,222 |   |
| Gain                on sale of                building                        |   |                                                       | 3,513,940  |   |                                                        |   | - |   |   |   | - |   |   |   | - |   |
|                                                                          |   | $                                                          | 12,786,779 |   |                                                        | $      | 7,082,774 |   |   | $ | 4,452,761 |   |   | $ | 3,005,222 |   |

|                                                                          |   | October                31, |        |   | January                31, |   |
|-------------------------------------------------------------------------------|--------|----------------------------|-------------|--------|----------------------------|--------|
|                                                                          |   | 2007                       |        |   | 2007                       |   |
| Identifiable                assets                                            |   | (Restated)                 |        |   | (Restated)                 |   |
| Product                recovery/pollution control                technologies |   | $                          | 35,847,770  |   |                       | $      | 34,907,323 |   |
| Fluid                handling                technologies                     |   |                       | 22,206,857  |   |                       |   | 21,667,719 |   |
| Filtration/purification                technologies                           |   |                       | 20,806,083  |   |                       |   | 20,514,339 |   |
|                                                                          |   |                       | 78,860,710  |   |                       |   | 77,089,381 |   |
| Corporate                                                                     |   |                       | 25,769,606  |   |                       |   | 19,652,276 |   |
|                                                                          |   | $                          | 104,630,316 |   |                       | $      | 96,741,657 |   |

----

Index

ORPOR

|   | /s/                Margolis &                Company P.C. |
|--------|---------------------------------------------------------------|
|   | Certified                Public Accountants                   |

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|                                                      |   | Nine                Months EndedOctober                31, 2007 |       |   | Three                Months EndedOctober                31, 2007 |   |
|-----------------------------------------------------------|--------|-----------------------------------------------------------------|------------|--------|------------------------------------------------------------------|--------|
|                                                      |   | As                Restated                                      |       |   | As                PreviouslyReported                             |   |   | As                Restated |   |   | As                PreviouslyReported |   |
| Consolidated                Statement of Operations:      |   |                                                            |       |   |                                                             |   |   |   |   |   |   |   |
| Net                sales                                  |   | $                                                               | 75,007,194 |   |                                                             | $      | 77,572,214 |   |   | $ | 29,042,650 |   |   | $ | 28,059,516 |   |
| Net                income                                 |   |                                                            | 8,715,872  |   |                                                             |   | 9,192,083 |   |   |   | 3,066,853 |   |   |   | 2,786,139 |   |
| Earnings                per share,                basic   |   | $                                                               | .58        |   |                                                             | $      | .61 |   |   | $ | .20 |   |   | $ | .19 |   |
| Earnings                per share,                diluted |   | $                                                               | .57        |   |                                                             | $      | .60 |   |   | $ | .20 |   |   | $ | .18 |   |

|                                                                              |   | Period                EndedOctober                31, 2007 |       |
|-----------------------------------------------------------------------------------|--------|------------------------------------------------------------|------------|
|                                                                              |   | As                Restated                                 |       |   | As                PreviouslyReported |   |
| Consolidated                Balance Sheet:                                        |   |                                                       |       |   |   |   |
| Accounts                receivable                                                |   | $                                                          | 18,839,340 |   |   | $ | 22,639,155 |   |
| Inventory                                                                         |   |                                                       | 22,535,681 |   |   |   | 20,797,505 |   |
| Prepaid                expenses, deposits and                other current assets |   |                                                       | 2,051,979  |   |   |   | 1,549,829 |   |
| Accounts                payable                                                   |   |                                                       | 5,434,700  |   |   |   | 5,884,016 |   |
| Accrued                salaries, wages and                expenses                |   |                                                       | 5,598,191  |   |   |   | 5,968,128 |   |
| Customers’                advances                                          |   |                                                       | 591,896    |   |   |   | 591,896 |   |
| Retained                earnings                                                  |   |                                                       | 80,904,318 |   |   |   | 81,644,555 |   |

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|                                                              |   |    Nine                Months                Ended  October                31, |             |   |   Three                Months                Ended  October                31, |             |
|-------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|------------------|--------|----------------------------------------------------------------------------------------------------|------------------|
|                                                              |   | 2007                                                                                                    |             |   | 2006                                                                                               |             |   | 2007 |   |   | 2006 |   |
|                                                              |   |                      (Restated)                                                |             |   |                      (Restated)                                           |             |
| Net                sales                                          |   | 100.0                                                                                                   | %                |   | 100.0                                                                                              | %                |   | 100.0 | % |   | 100.0 | % |
| Cost                of goods                sold                  |   | 67.5                                                                                                    | %                |   | 69.7                                                                                               | %                |   | 67.1 | % |   | 67.4 | % |
| Gross                profit                                       |   | 32.5                                                                                                    | %                |   | 30.3                                                                                               | %                |   | 32.9 | % |   | 32.6 | % |
|                                                              |   |                                                                                                    |             |   |                                                                                               |             |   |   |   |   |   |   |
| Selling                expenses                                   |   | 9.0                                                                                                     | %                |   | 9.2                                                                                                | %                |   | 7.3 | % |   | 9.2 | % |
| General                and administrative                expenses |   | 11.2                                                                                                    | %                |   | 10.8                                                                                               | %                |   | 10.3 | % |   | 11.4 | % |
| (Gain)                loss on sale of                building     |   | (              4.7                                                                                      | %              ) |   | -                                                                                                  |             |   | - |   |   | - |   |
| Income                from                operations              |   | 17.0                                                                                                    | %                |   | 10.3                                                                                               | %                |   | 15.3 | % |   | 12.0 | % |
|                                                              |   |                                                                                                    |             |   |                                                                                               |             |   |   |   |   |   |   |
| Interest                expense                                   |   | (.3                                                                                                     | %              ) |   | (.4                                                                                                | %              ) |   | (              .2 | %              ) |   | (.4 | %              ) |
| Other                income,                net                   |   | 1.0                                                                                                     | %                |   | 1.1                                                                                                | %                |   | .8 | % |   | 1.0 | % |
| Income                before                taxes                 |   | 17.7                                                                                                    | %                |   | 11.0                                                                                               | %                |   | 15.9 | % |   | 12.6 | % |
|                                                              |   |                                                                                                    |             |   |                                                                                               |             |   |   |   |   |   |   |
| Provision                for                taxes                 |   | 6.1                                                                                                     | %                |   | 3.6                                                                                                | %                |   | 5.3 | % |   | 4.3 | % |
| Net                income                                         |   | 11.6                                                                                                    | %                |   | 7.4                                                                                                | %                |   | 10.6 | % |   | 8.3 | % |

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| · | the                write-down of costs in excess of net assets of businesses acquired                (goodwill), as a result of the determination that the acquired business                is                impaired. Our Flex-Kleen business unit, which initially performed                well                after being acquired by Met-Pro, thereafter had several years of                declining                performance which we attributed primarily to a general weakness in                its                served markets, followed by improved performance in the fiscal years                ended                January 31, 2007, 2006 and 2005. During the fiscal year ended January                31,                2007, we performed an impairment analysis of the $11.1 million of                goodwill                that the Company carries for Flex-Kleen and concluded that no impairment                had occurred. For the nine-month period ended October 31, 2007, the                annualized projection for net sales and operating profit for our                Flex-Kleen business unit currently exceeds the projections used in                our                annual impairment model for the fiscal year ended January 31, 2008; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | materially                adverse changes in economic conditions in the markets served by us                or in                significant customers of ours; |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | material                changes in available technology; |
|--------|----------------------------------------------------------|

| · | adverse                developments in the asbestos cases that have been filed against the                Company, including without limitation the exhaustion of insurance                coverage, the insolvency of our insurance carriers, the imposition                of                punitive damages or other adverse developments in the availability                of                insurance coverage; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | changes                in accounting rules promulgated by regulatory agencies, including                the SEC,                which could result in an impact on earnings; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the                cost of compliance with Sarbanes-Oxley and other applicable legal                and                listing requirements, and the unanticipated possibility that Met-Pro                may                not meet these requirements; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | unexpected                results in our product development activities; |
|--------|--------------------------------------------------------------------------|

| · | loss                of key customers; |
|--------|---------------------------------------|

| · | changes                in product mix and the cost of materials, with effect on margins; |
|--------|------------------------------------------------------------------------------------------|

| · | changes                in our existing management; |
|--------|----------------------------------------------------|

| · | exchange                rate fluctuations; |
|--------|--------------------------------------------|

| · | changes                in federal laws, state laws and regulations; |
|--------|---------------------------------------------------------------------|

| · | lower                than anticipated return on investments in the Company’s defined benefit                plans, which could affect the amount of the Company’s pension liabilities; |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the                assertion of litigation claims that the Company’s products, including                products produced by companies acquired by the Company, infringe                third                party patents or have caused injury, loss or damage; |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the                effect of acquisitions and other strategic ventures; |
|--------|-------------------------------------------------------------------------|

| · | failure                to properly quote and/or execute customer orders, including                misspecifications, design, engineering or production errors; |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the                cancellation or delay of purchase orders or shipments; |
|--------|---------------------------------------------------------------------------|

| · | losses                related to international sales; and/or |
|--------|--------------------------------------------------------------|

| · | failure                in execution of acquisition strategy. |
|--------|--------------------------------------------------------------|

itati

roced

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registe

| (a)             | During                the third quarter ended October 31, 2007, we did not sell any of                our                equity securities that were not registered under the Securities Act                of                1933. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|            |                                                                                                                                                                                                                                |
| (b)             | Not              applicable.                                                                                                                                                                                                        |
|            |                                                                                                                                                                                                                                |
| (c)   | The              following table summarizes Met-Pro’s purchases of its Common Shares for              the quarter ended October 31, 2007:                                                                                     |

| Period                              |   | TotalNumber                of SharesPurchased |   |   | AveragePrice                PaidPer                Share |   |   | TotalNumber                ofSharesPurchasedAs                Part ofPubliclyAnnouncedPlans                orPrograms |   |   | MaximumNumber                ofSharesThat                MayYet                bePurchasedUnder                thePlan                orPrograms | (1)    |
|-------------------------------------|--------|-----------------------------------------------|--------|--------|----------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                |   |                                          |   |   |                                                     |   |   |                                                                                                                  |   |   |                                                                                                                                             |   |
| August                1-31, 2007    |   |                                          | 0      |   |                                                     | $      | -      |                                                                                                                  |   |   | 0                                                                                                                                                |   |   |   | 361,224 |   |
| September                1-30, 2007 |   |                                          | 0      |   |                                                     |   | -      |                                                                                                                  |   |   | 0                                                                                                                                                |   |   |   | 361,224 |   |
| October                1-31, 2007   |   |                                          | 51,205 |   |                                                     |   | 12.32  |                                                                                                                  |   |   | 51,205                                                                                                                                           |   |   |   | 310,019 |   |
| Total                               |   |                                          | 51,205 |   |                                                     | $      | 12.32  |                                                                                                                  |   |   | 51,205                                                                                                                                           |   |   |   | 310,019 |   |

|  | (1) | On                December 15, 2000, our Board of Directors authorized a Common Share                repurchase program that was publicly announced on December 19, 2000,                for                up to 711,111 (adjusted for the four-for-three stock split) shares.                The                program has no fixed expiration date. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Item                6.                      |   | Exhibits |                                                           |
|---------------------------------------------|--------|----------|----------------------------------------------------------------|
|                                        |   |     |                                                           |
|                                        |   | (a)      | Exhibits                Required by Item 601 of Regulation S-K |
|                                        |   |     |                                                           |
|                                        |   |     | Exhibit                No.                                     |   | Description |
|                                        |   |     |                                                           |   |   |
|                                        |   |     | (31.1)                                                         |   | Certification                of the Chief Executive Officer Pursuant                to Section 302 of the Sarbanes-Oxley                Act of 2002.* |
|                                        |   |     |                                                           |   |   |
|                                        |   |     | (31.2)                                                         |   | Certification                of the Chief Financial Officer Pursuant                to Section 302 of the Sarbanes-Oxley Act of                2002.* |
|                                        |   |     |                                                           |   |   |
|                                        |   |     | (32.1)                                                         |   | Certification                of the Chief Executive Officer Pursuant                to 18 U.S.C. Section 1350, as adopted Pursuant to                Section 906 of Sarbanes-Oxley Act of 2002.* |
|                                        |   |     |                                                           |   |   |
|                                        |   |     | (32.2)                                                         |   | Certification                of the Chief Financial Officer Pursuant                to 18 U.S.C. Section 1350, as adopted Pursuant                to Section 906 of Sarbanes-Oxley Act of 2002.* |
|                                        |   |     |                                                           |   |   |
| *  Filed                herewith. |

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ATURE

|   | Pursuant                to the requirements of the Securities Exchange Act of 1934, the registrant                has duly caused this report to be signed on its behalf by the undersigned                thereunto duly authorized. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                             |   | Met-Pro                Corporation                                                                                                                                     |
|----------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             |   | (Registrant)                                                                                                                                                           |
|                             |   |                                                                                                                                                                   |
|                             |   |                                                                                                                                                                   |
| February                12, 2008 |   | /s/                Raymond J. De Hont                                                                                                                                  |
|                             |   | Raymond                J. De Hont                                                                                                                                      |
|                             |   | Chairman,                President and Chief Executive Officer                                                                                                         |
|                             |   |                                                                                                                                                                   |
|                             |   |                                                                                                                                                                   |
|                             |   |                                                                                                                                                                   |
| February                12, 2008 |   | /s/                Gary J. Morgan                                                                                                                                      |
|                             |   | Gary                J. Morgan                                                                                                                                          |
|                             |   | Senior                Vice President of Finance, Secretary and Treasurer, Chief Financial                Officer, Chief Accounting Officer and                Director |

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