----

----

**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      10-Q**

**[      X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE      ACT OF 1934**

**or**

**[          ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE      ACT OF 1934**

**MET-PRO      CORPORATION**

| **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, 2006 the Registrant had 11,215,244 Common Shares,                par value                of $.10 per share, issued and                outstanding.                                                                                                                                                                                                                                                                                                                                                                   |

----

----

Index

----

**MET-PRO          CORPORATION**

**INDEX**

| **PART                I - FINANCIAL INFORMATION**             |                         |
|---------------------------------------------------------------|------------------------------|
|                                                          |                         |   |   |   |
|                                                          | **Item                  1.** | Financial                Statements |   |
|                                                          |                         |   |   |
|                                                          |                         | Consolidated                  Balance Sheet as of |   |
|                                                          |                         |   | October                  31, 2006 and January 31, 2006 | 2 |
|                                                          |                         | Consolidated                  Statement of Operations for the                  nine-month and three-month |   |
|                                                          |                         |   | periods                  ended October 31, 2006 and                  2005 | 3 |
|                                                          |                         | Consolidated                  Statement of Shareholders’ Equity for                  the |   |
|                                                          |                         |   | nine-month                  periods ended October 31, 2006 and                  2005 | 4 |
|                                                          |                         | Consolidated                  Statement of Cash Flows for the                  nine-month |   |
|                                                          |                         |   | periods                  ended October 31, 2006 and                  2005 | 5 |
|                                                          |                         | Notes                  to Consolidated Financial                  Statements | 6 |
|                                                          |                         | Report                  of Independent Registered Public                  Accounting Firm | 17 |
|                                                          |                         |   |   |   |
|                                                          | **Item                  2.** |   | Management’s                  Discussion and Analysis of Financial                  Condition |   |
|                                                          |                         |   | and                  Results of Operations | 18 |
|                                                          |                         |   |   |   |
|                                                          | **Item                  3.** |   | Qualitative                  and Quantitative Disclosures about Market                  Risk | 25 |
|                                                          |                         |   |   |   |
|                                                          | **Item                  4.** |    | Controls                  and Procedures | 25 |
|                                                          |                         |   |   |   |
|                                                          |                         |   |   |   |
| **PART                II - OTHER                INFORMATION** |

|           |                         |                                                                                          |   |
|----------------|------------------------------|-----------------------------------------------------------------------------------------------|--------|
|           | **Item                  1.** | Legal                  Proceedings                                                            | 25     |
|      |                         |                                                                                          |   |
|      | Item                  1A.    | Risk                  Factors                                                                 | 26     |
|      |                         |                                                                                          |   |
|           | **Item                  2.** | Unregistered                  Sales of Equity Securities and Use of                  Proceeds | 26     |
|           |                         |                                                                                          |   |
|           | **Item                  3.** | Defaults                  Upon Senior                  Securities                             | 26     |
|           |                         |                                                                                          |   |
|           | **Item                  4.** | Submission                  of Matters to a Vote of Security                  Holders         | 26     |
|           |                         |                                                                                          |   |
|           | **Item                  5.** | Other                  Information                                                            | 27     |
|           |                         |                                                                                          |   |
|           | **Item                  6.** | Exhibits                                                                                      | 27     |
|           |                         |                                                                                          |   |
|           |                         |                                                                                          |   |
| **SIGNATURES** | 28                           |
|           |                         |                                                                                          |   |

Index

----

**MET-PRO            CORPORATION**

**CONSOLIDATED      BALANCE SHEET**

**(unaudited)**

| **PART                I - FINANCIAL INFORMATION**                                                                               |                                               |   |                                                                 |   |
|---------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------|--------|----------------------------------------------------------------------|--------|
|                                                                                                                            |                                               |   |                                                                 |   |
| **Item                1.*****Financial                Statements***                                                             |                                               |   |                                                                 |   |
|                                                                                                                            |                                               |   |                                                                 |   |
|                                                                                                                            | **October                31,**                     |   |        January                31, |   |
| **ASSETS**                                                                                                                      | **2006       ** |   | 2006                                   |   |
| Current                assets                                                                                                   |                                               |   |                                                                 |   |
|                   Cash and cash equivalents                                                                           | **$18,537,674**                                    |   | $17,683,305                                                          |   |
|                   Marketable securities                                                                               | **20,294**                                         |   | -                                                                    |   |
|                   Accounts receivable, net of allowance for doubtful                                                  |                                               |   |                                                                 |   |
|                       accounts of approximately $180,000 and                                      |                                               |   |                                                                 |   |
|                       $247,000, respectively                                                      | **19,936,228**                                     |   | 17,909,727                                                           |   |
|                   Inventories                                                                                         | **18,940,498**                                     |   | 16,438,481                                                           |   |
|                   Prepaid expenses, deposits and other current assets                                                 | **1,363,890**                                      |   | 1,381,900                                                            |   |
|                   Deferred income taxes                                                                               | **620,667**                                        |   | 591,534                                                              |   |
|                             Total current assets                    | **59,419,251**                                     |   | 54,004,947                                                           |   |
| Property,                plant and equipment, net                                                                               | **16,977,419**                                     |   | 13,838,221                                                           |   |
| Costs                in excess of net assets of businesses acquired, net                                                        | **20,798,913**                                     |   | 20,798,913                                                           |   |
| Other                assets                                                                                                     | **1,001,642**                                      |   | 1,020,844                                                            |   |
|  **             Total                assets**             | **$98,197,225**                                    |   | $89,662,925                                                          |   |
|                                                                                                                            |                                               |   |                                                                 |   |
| **LIABILITIES                AND SHAREHOLDERS' EQUITY**                                                                         |                                               |   |                                                                 |   |
| Current                liabilities                                                                                              |                                               |   |                                                                 |   |
|                   Current portion of long-term debt                                                                   | **$1,943,898**                                     |   | $1,689,413                                                           |   |
|                   Accounts payable                                                                                    | **6,793,015**                                      |   | 5,900,281                                                            |   |
|                   Accrued salaries, wages and expenses                                                                | **8,462,623**                                      |   | 7,150,142                                                            |   |
|                   Dividend payable                                                                                    | **757,029**                                        |   | 699,819                                                              |   |
|                   Customers' advances                                                                                 | **1,081,913**                                      |   | 1,703,092                                                            |   |
| **            **Total                current liabilities            | **19,038,478**                                     |   | 17,142,747                                                           |   |
| Long-term                debt                                                                                                   | **5,745,214**                                      |   | 2,723,586                                                            |   |
| Other                non-current liabilities                                                                                    | **44,859**                                         |   | 43,211                                                               |   |
| Deferred                income taxes                                                                                            | **2,208,638**                                      |   | 2,215,143                                                            |   |
| **            **Total                liabilities                    | **27,037,189**                                     |   | 22,124,687                                                           |   |
|                                                                                                                            |                                               |   |                                                                 |   |
| Shareholders'                equity                                                                                             |                                               |   |                                                                 |   |
|                   Common shares, $.10 par value; 18,000,000 shares                                                    |                                               |   |                                                                 |   |
|                      authorized, 12,846,608 shares issued,                                             |                                               |   |                                                                 |   |
|                      of which 1,631,364 and 1,649,498 shares were reacquired                           |                                               |   |                                                                 |   |
|                      and held in treasury at the respective dates                                      | **1,284,661**                                      |   | 1,284,661                                                            |   |
|                   Additional paid-in capital                                                                          | **7,828,910**                                      |   | 7,564,180                                                            |   |
|                   Retained earnings                                                                                   | **73,677,065**                                     |   | 70,645,717                                                           |   |
|                   Accumulated other comprehensive loss                                                                | **(123,946**                                       | **)**  | (321,821                                                             | )      |
|                   Treasury shares, at cost                                                                            | **(11,506,654**                                    | **)**  | (11,634,499                                                          | )      |
| **           **Total                shareholders' equity                 | **71,160,036**                                     |   | 67,538,238                                                           |   |
| **           Total                liabilities and shareholders' equity** | **$98,197,225**                                    |   | $89,662,925                                                          |   |
| See                accompanying notes to consolidated financial statements.                                                     |                                               |   |                                                                 |

Index

----

**MET-PRO          CORPORATION**

**CONSOLIDATED      STATEMENT OF      OPERATIONS**

**(unaudited)**

|                                                                | **                       Nine Months Ended** | **               Three                Months Ended** |
|---------------------------------------------------------------------|---------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|
|                                                                | **                       October 31,**            | **           October                31,**                                |
|                                                                |         **2006**                        |                                                                                                                            | 2005       |   | **2006       ** |   | 2005        |   |
| **Net                sales**                                        | **$68,881,850**                                                                 |                                                                                                                            | $62,492,924 |   | **$25,323,927** |   | $21,918,792 |   |
| Cost                of goods sold                                   | **47,973,992**                                                                  |                                                                                                                            | 42,762,662 |   | **17,005,918** |   | 15,205,528 |   |
| Gross                profit                                         | **20,907,858**                                                                  |                                                                                                                            | 19,730,262 |   | **8,318,009** |   | 6,713,264 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| **Operating                expenses**                               |                                                                            |                                                                                                                            |   |   |   |   |   |   |
|                   Selling                                 | **6,269,844**                                                                   |                                                                                                                            | 5,899,709 |   | **2,297,478** |   | 1,972,308 |   |
|                   General and administrative              | **7,162,325**                                                                   |                                                                                                                            | 6,617,271 |   | **2,622,394** |   | 2,256,715 |   |
|                   Loss on curtailment of pension benefits | **234,180**                                                                     |                                                                                                                            | - |   | **234,180** |   | - |   |
|                                                                | **13,666,349**                                                                  |                                                                                                                            | 12,516,980 |   | **5,154,052** |   | 4,229,023 |   |
| Income                from operations                               | **7,241,509**                                                                   |                                                                                                                            | 7,213,282 |   | **3,163,957** |   | 2,484,241 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| Interest                expense                                     | **(256,519**                                                                    | **)**                                                                                                                           | (196,868 | ) | **(109,205** | **)** | (60,954 | ) |
| Other                income, net                                    | **759,712**                                                                     |                                                                                                                            | 457,195 |   | **254,461** |   | 162,610 |   |
| Income                before taxes                                  | **7,744,702**                                                                   |                                                                                                                            | 7,473,609 |   | **3,309,213** |   | 2,585,897 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| Provision                for taxes                                  | **2,555,751**                                                                   |                                                                                                                            | 2,316,820 |   | **1,136,395** |   | 703,875 |   |
| **Net                income**                                       | **$5,188,951**                                                                  |                                                                                                                            | $5,156,789 |   | **$2,172,818** |   | $1,882,022 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| **Earnings                per share, basic****(1)**                 | **$.46**                                                                        |                                                                                                                            | $.46 |   | **$.19** |   | $.17 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| **Earnings                per share, diluted****(2)**               | **$.46**                                                                        |                                                                                                                            | $.46 |   | **$.19** |   | $.17 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| **Cash                dividend per share - declared****(3)**        | **$.1925**                                                                      |                                                                                                                            | $.1788 |   | **$.0675** |   | $.0625 |   |
|                                                                |                                                                            |                                                                                                                            |   |   |   |   |   |   |
| **Cash                dividend per share - paid****(3)**            | **$.1875**                                                                      |                                                                                                                            | $.1744 |   | **$.0625** |   | $.0581 |   |

|   | (1) | Basic                earnings per share are based upon the weighted average number of                shares                outstanding of 11,204,760 and 11,185,838 for the nine-month periods                ended                October 31, 2006 and 2005, respectively, and 11,203,551 and 11,184,295                for                the three-month periods ended October 31, 2006 and 2005,                respectively. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Diluted                earnings per share are based upon the weighted average number of                shares                outstanding of 11,384,801 and 11,320,875 for the nine-month periods                ended                October 31, 2006 and 2005, respectively, and 11,382,247 and 11,317,027                for                the three-month periods ended October 31, 2006 and 2005,                respectively. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The                Board of Directors declared quarterly dividends of $.0625 per share                payable 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 $.0675 per share                payable on December 14, 2006 to shareholders of record as of November                30,                2006. Quarterly dividends of $.0581 per share were paid on March                8, 2005,                June 8, 2005, and September 8, 2005 to shareholders of record as                of                February 25, 2005, May 27, 2005, and August 28, 2005, respectively,                and a                quarterly dividend of $.0625 per share payable on December 8, 2005                to                shareholders of record as of November 25,                2005. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Index

**MET-PRO          CORPORATION**

**CONSOLIDATED      STATEMENT**
** OF      SHAREHOLDERS' EQUITY**

**(unaudited)**

|   |                                           |              |         |                                                        |         |                                          |   |
|--------|------------------------------------------------|-------------------|--------------|-------------------------------------------------------------|--------------|-----------------------------------------------|--------|
|   |                                           |              |         | **                    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                                                     | -          | -          |   | 5,188,951   |   | -         |   | -            |   |        |   |
|                   Cumulative translation adjustment                              | -          | -          |   | -           |   | 209,890   |   | -            |   |        |   |
|                   Interest rate swap,                                            |       |       |   |        |   |      |   |         |   |        |   |
|                        net of tax of**(**$4,846)        | -          | -          |   | -           |   | (10,993   | )      | -            |   |        |   |
|                   Securities available for sale,                                 |       |       |   |        |   |      |   |         |   |        |   |
|                       net of tax of ($504)                   | -          | -          |   | -           |   | (1,022    | )      | -            |   |        |   |
|                         Total comprehensive income |       |       |   |        |   |      |   |         |   | 5,386,826   |   |
|                                                                                       |       |       |   |        |   |      |   |         |   |        |   |
| Dividends                paid, $.125 per share                                             | -          | -          |   | (1,400,574  | )      | -         |   | -            |   | (1,400,574  | )      |
| Dividends                declared, $.0675 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 |   | $73,677,065 |   | ($123,946 | )      | ($11,506,654 | )      | $71,160,036 |   |

|   |                                           |                 |         |                                          |         |                                          |   |
|--------|------------------------------------------------|----------------------|--------------|-----------------------------------------------|--------------|-----------------------------------------------|--------|
|   |                                           |                 |         | **                    Accumulated** |         |                                          |   |
|   |                                           | ** Additional** |         | **Other**                                     |         |                                          |   |
|   | **                    Common**       | ** Paid-in**    | **Retained** | **  Comprehensive**                 | **Treasury** |                                          |   |
|   | **                     Shares** | ** Capital**    | **Earnings** | **    Income/(Loss)**     | **Shares**   | **Total      ** |   |

| **Balances,                January 31, 2005**                                                           | $963,496 | $7,930,646 |   | $66,032,446 |   | $100,635 |   | ($11,862,032 | )      | $63,165,191 |   |
|---------------------------------------------------------------------------------------------------------|----------|------------|--------|-------------|--------|----------|--------|--------------|--------|-------------|--------|
|                                                                                                    |     |       |   |        |   |     |   |         |   |        |   |
| Comprehensive                income:                                                                    |     |       |   |        |   |     |   |         |   |        |   |
|                   Net income                                                                  | -        | -          |   | 5,156,789   |   | -        |   | -            |   |        |   |
|    Cumulative                translation adjustment                                      | -        | -          |   | -           |   | (264,444 | )      | -            |   |        |   |
|    Interest                rate swap,                                                    |     |       |   |        |   |     |   |         |   |        |   |
|                       net of tax of ($38,028)                             | -        | -          |   | -           |   | 71,186   |   | -            |   |        |   |
|                        Total comprehensive income                    |     |       |   |        |   |     |   |         |   | 4,963,531   |   |
|                                                                                                    |     |       |   |        |   |     |   |         |   |        |   |
| Dividends                paid, $.1163 per share                                                         | -        | -          |   | (1,300,374  | )      | -        |   | -            |   | (1,300,374  | )      |
| Dividends                declared, $.0625 per                       share | -        | -          |   | (699,539    | )      | -        |   | -            |   | (699,539    | )      |
| Stock                option transactions                                                                | -        | (43,387    | )      | -           |   | -        |   | 367,668      |   | 324,281     |   |
| Purchase                of 12,548 treasury shares                                                       | -        | -          |   | -           |   | -        |   | (140,135     | )      | (140,135    | )      |
| **Balances,                October 31, 2005**                                                           | $963,496 | $7,887,259 |   | $69,189,322 |   | ($92,623 | )      | ($11,634,499 | )      | $66,312,955 |   |
| See                accompanying notes to consolidated financial statements.                             |     |       |   |        |

Index

----

**MET-PRO          CORPORATION**

**CONSOLIDATED      STATEMENT OF CASH FLOWS**

**(unaudited)**

|   |   |   |                                               |
|--------|--------|--------|----------------------------------------------------|
|   |   |   | **Nine                Months Ended**               |
|   |   |   | **October                31,**                     |
|   |   |   | **2006       ** |   | 2005       |   |

**INCREASE      (DECREASE) IN CASH AND CASH EQUIVALENTS**

| **Cash                flows from operating activities**                                                                                          |   |   |                        |   |        |         |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------------------------|--------|-------------|--------------|
|                   Net income                                                                                                           |   |   | **$5,188,951**              |   | $5,156,789  |         |
| **  **Adjustments                to reconcile net income to net                                                                        |   |   |                        |   |        |         |
|               cash                provided by operating activities:        |   |   |                        |   |        |         |
| **      **Depreciation                and amortization                                                             |   |   | **1,183,326**               |   | 1,109,925   |         |
|                       Deferred income taxes                                                                        |   |   | **(1,659**                  | **)**  | (1,659      | )            |
|                       Loss on sale of property and equipment, net                                                  |   |   | **11,754**                  |   | 8,348       |         |
| **     **Stock-based compensation                                                                                       |   |   | **245,402**                 |   | -           |         |
|  **     **Allowance for doubtful accounts                                                                          |   |   | **(                67,424** | **)**  | 96,682      |         |
|  **     **(Increase) decrease in operating assets:                                                                 |   |   |                        |   |        |         |
|              Accounts                receivable                                 |   |   | **(1,842,257**              | **)**  | (2,172,567  | )            |
|              Inventories                                                        |   |   | **(2,414,105**              | **)**  | (2,638,644  | )            |
|              Prepaid                expenses, deposits and other current assets |   |   | **202**                     |   | 18,158      |         |
|                             Other assets                                             |   |   | **25,421**                  |   | (6,744      | )            |
| **     **Increase (decrease) in operating liabilities:                                                                  |   |   |                        |   |        |         |
|              Accounts                payable and accrued expenses               |   |   | **2,064,990**               |   | 1,560,944   |         |
|              Customers’                advances                           |   |   | **(621,249**                | **)**  | 380,037     |         |
|              Other                non-current liabilities                       |   |   | **1,648**                   |   | 1,648       |         |
|                         Net cash provided by operating activities                                        |   |   | **3,775,000**               |   | 3,512,917   |         |
|                                                                                                                                             |   |   |                        |   |        |         |
| **Cash                flows from investing activities**                                                                                          |   |   |                        |   |        |         |
|                   Proceeds from sale of property and equipment                                                                         |   |   | **14,310**                  |   | 31,696      |    |
|                   Acquisitions of property and equipment                                                                               |   |   | **(4,192,649**              | **)**  | (2,093,201  | )            |
|                   Securities available for sale                                                                                        |   |   | **(21,820**                 | **)**  | -           |         |
|                         Net cash (used in) investing activities                                          |   |   | **(4,200,159**              | **)**  | (2,061,505  | )            |
|                                                                                                                                             |   |   |                        |   |        |         |
| **Cash                flows from financing activities**                                                                                          |   |   |                        |   |        |         |
|                   Proceeds from new borrowings                                                                                         |   |   | **4,306,406**               |   | -           |         |
|                   Reduction of debt                                                                                                    |   |   | **(1,103,380**              | **)**  | (1,500,910  | )            |
|                   Exercise of stock options                                                                                            |   |   | **147,173**                 |   | 324,281     |         |
|                   Payment of dividends                                                                                                 |   |   | **(2,100,393**              | **)**  | (1,948,755  | )            |
|                   Purchase of treasury shares                                                                                          |   |   | **-**                       |   | (140,135    | )            |
|                         Net cash provided by (used in) financing activities                              |   |   | **1,249,806**               |   | (3,265,519  | )            |
|                   Effect of exchange rate changes on cash                                                                              |   |   | **29,722**                  |   | (59,026     | )            |
|                                                                                                                                             |   |   |                        |   |        |         |
| **                  Net increase (decrease) in cash and cash                equivalents**                                              |   |   | **854,369**                 |   | (1,873,133  | )            |
|                                                                                                                                             |   |   |                        |   |        |         |
|                   Cash and cash equivalents at February 1                                                                              |   |   | **17,683,305**              |   | 20,889,476  |         |
| **                  Cash and cash equivalents at October 31**                                                                          |   |   | **$18,537,674**             |   | $19,016,343 |         |
| See                accompanying notes to consolidated financial statements.                                                                      |   |   |                        |   |

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL      STATEMENTS**

**NOTE      1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**Recent      Accounting Pronouncements**

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

*“*
*.      *

**Reclassifications:      **
*”*

**Stock      Split:**

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**Marketable      Securities:**

**NOTE      2 - PRINCIPLES OF CONSOLIDATION**

**NOTE      3 - BASIS OF PRESENTATION**

**NOTE      4 - STOCK-BASED COMPENSATION**

**Stock      Options: **

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

|                                   | Nine                Months Ended |
|----------------------------------------|----------------------------------|
|                                   | October                31,       |
|                                   | 2006                             |   | 2005 |
|                                   |                             |   |   |
| Expected                term (years)   | 5.0                              |   | 5.0 |
| Risk-free                interest rate | 3.63%                - 4.58%     |   | 3.11%                - 4.58% |
| Expected                volatility     | 30%                - 32%         |   | 30%                - 32% |
| Dividend                yield          | 2.26%                - 3.39%     |   | 2.26%                - 3.73% |

|     |                                           |                         |                                       | Weighted                    |                                  |
|----------|------------------------------------------------|------------------------------|--------------------------------------------|-----------------------------|---------------------------------------|
|     |                                           |                         |                   Weighted       | Average                     |                                  |
|     |                                           |                         |                   Average        | Remaining                   |                  Aggregate       |
|     |                                           |                  Shares |                   Exercise Price | Life                (years) |                  Intrinsic Value |
| Options: |                                           |                         |                                       |                        |
|     | Outstanding                at February 1, 2006 | 810,742                      | $9.8071                                    | 7.68                        |                                  |
|     | Granted                                        | -                            | -                                          |                        |                                  |
|     | Forfeited                                      | 6,667                        | 11.18                                      |                        |                                  |
|     | Expired                                        | -                            | -                                          |                        |                                  |
|     | Exercised                                      | 18,134                       | 8.12                                       |                        |                                  |
|     | Outstanding                at October 31, 2006 | 785,941                      | $9.8344                                    | 7.18                        | $2,896,664                            |
|     |                                           |                         |                                       |                        |                                  |
|     | Exercisable                at October 31, 2006 | 619,487                      | $9.4274                                    | 7.18                        | $2,535,312                            |

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

|                            |   | Options                Outstanding |                            | Options                Exercisable |
|---------------------------------|--------|------------------------------------|---------------------------------|------------------------------------|
|                            |   |                               |                            |                               |   |   |   |
|                            |   |                               | Weighted                Average |                               |   |   |   |
|                            |   |                               | Remaining                       | Weighted                Average    |   |   | Weighted                Average |
|                            |   |                  Shares       | Life                (years)     | Exercise                Price      |   |                  Shares | Exercise                Price |
| Range                of prices: |   |                               |                            |                               |   |   |   |   |   |   |   |   |
| $5.48                - 5.99     |   | 32,980                             |                            | 3.21                               |   | $5.5533 |   |   | 32,980 |   | $5.5533 |   |
| $6.00                - 6.99     |   | 64,716                             |                            | 4.39                               |   | 6.8063 |   |   | 64,716 |   | 6.8063 |   |
| $7.00                - 8.99     |   | 205,231                            |                            | 5.23                               |   | 7.3740 |   |   | 205,231 |   | 7.3740 |   |
| $9.00                - 11.99    |   | 161,340                            |                            | 7.96                               |   | 9.8813 |   |   | 107,558 |   | 9.8813 |   |
| $12.00                - 12.99   |   | 321,674                            |                            | 8.44                               |   | 12.4288 |   |   | 209,002 |   | 12.6331 |   |
|                            |   | 785,941                            |                            | 7.18                               |   | $9.8344 |   |   | 619,487 |   | $9.4274 |   |

|                                                                |                                                                                                 |      Nine                Months Ended |             |       Three                Months Ended |
|---------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|----------------------------------------------------------------|------------------|-----------------------------------------------------------------------|
|       October                31, 2005 |                      October 31, 2005                                       |
|  Net                income, as reported                        |  $5,156,789                                                                                     |                                                           |  $1,882,022 |                                                                  |
| Add:                                                                | Stock-based                employee compensation expense                                             |                                                           |             |                                                                  |   |
|                                                                | included                in reported net income, net of tax                                           | -                                                              |             | -                                                                     |   |
| Less:                                                               | Pro                forma expense related to stock options granted, net                of tax effects |  (125,070                                                 |  )          |  (41,690                                                         | ) |
| Pro                forma                                            | $5,031,719                                                                                           |                                                           | $1,840,332       |                                                                  |
| Earnings                per share, basic:                           |                                                                                                 |                                                           |             |                                                                  |
|                                                                | As                reported                                                                           | $.46                                                           |             | $.17                                                                  |   |
|                                                                | Pro                forma                                                                             | .45                                                            |             | .16                                                                   |   |
| Earnings                per share, diluted:                         |                                                                                                 |                                                           |             |                                                                  |
|                                                                | As                reported                                                                           | $.46                                                           |             | $.17                                                                  |   |
|                                                                | Pro                forma                                                                             | .44                                                            |             | .16                                                                   |   |

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE      5 - MARKETABLE SECURITIES**

**NOTE      6 - INVENTORIES**

|                            | October                31,                                                                       |   | January                31,                                       |
|---------------------------------|------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------|
|                            |            2006       |   |     2006       |
| Raw                materials    | $14,139,255                                                                                                |   | $9,116,168                                                       |
| Work                in progress | 2,776,459                                                                                                  |   | 2,334,589                                                        |
| Finished                goods   | 2,024,784                                                                                                  |   | 4,987,724                                                        |
|                            | $18,940,498                                                                                                |   | $16,438,481                                                      |

**NOTE      7 - SUPPLEMENTAL CASH FLOW INFORMATION**

|                                            | Nine                Months Ended               |
|-------------------------------------------------|------------------------------------------------|
|                                            | October                31,                     |
|                                            | 2006        |   | 2005        |
| Cash                paid during the period for: |                                           |   |   |
|                   Interest            | $247,049                                       |   | $210,071 |
|    Income                taxes   | 2,834,775                                      |   | 1,290,171 |

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE      8 - DEBT **

*Short-term      debt:*

*Long-term      debt:*

|                                                                   | **                                 October 31,** |   | **                                                  January 31,** |
|------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                   | **                                 2006**                  |   | **                                                  2006**   |
| Note                payable, bank, payable in                          |                                                                                                                                  |   |                                                                                                                                              |
|                   quarterly installments of $300,000,        |                                                                                                                                  |   |                                                                                                                                              |
|                   plus interest at a rate of 75 basis points |                                                                                                                                  |   |                                                                                                                                              |
|                   over the ninety day LIBOR rate             |                                                                                                                                  |   |                                                                                                                                              |
|                   (effective interest rate of 6.42% at       |                                                                                                                                  |   |                                                                                                                                              |
|                   October 31, 2006), maturing October, 2008. | $2,700,000                                                                                                                            |   | $3,600,000                                                                                                                                        |
|                                                                   |                                                                                                                                  |   |                                                                                                                                              |
| Note                payable, bank, payable in                          |                                                                                                                                  |   |                                                                                                                                              |
|                   quarterly installments of $31,908          |                                                                                                                                  |   |                                                                                                                                              |
|                   (25,000 Euro), plus interest at a          |                                                                                                                                  |   |                                                                                                                                              |
|                   fixed rate of 3.82%, maturing              |                                                                                                                                  |   |                                                                                                                                              |
|                   January, 2016.                             | 1,180,624                                                                                                                             |   | 379,387                                                                                                                                           |
|                                                                   |                                                                                                                                  |   |                                                                                                                                              |
| Line                of credit, $382,890 (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 4.05% at       |                                                                                                                                  |   |                                                                                                                                              |
|                   October 31, 2006).                         | 382,890                                                                                                                               |   | 364,559                                                                                                                                           |
|                                                                   |                                                                                                                                  |   |                                                                                                                                              |
| Bond                payable, bank, payable in                          |                                                                                                                                  |   |                                                                                                                                              |
|                   quarterly installments of $58,333,         |                                                                                                                                  |   |                                                                                                                                              |
|                   plus interest at a rate of 16 basis points |                                                                                                                                  |   |                                                                                                                                              |
|                   below the ninety day LIBOR rate            |                                                                                                                                  |   |                                                                                                                                              |
|                   (effective interest rate of 5.51% at       |                                                                                                                                  |   |                                                                                                                                              |
|                   October 31, 2006), maturing April, 2021.   | 3,390,706                                                                                                                             |   | 50,000                                                                                                                                            |
|                                                                   |                                                                                                                                  |   |                                                                                                                                              |
|                                                                   | 7,654,220                                                                                                                             |   | 4,393,946                                                                                                                                         |
| Less                current portion                                    | 1,943,898                                                                                                                             |   | 1,689,413                                                                                                                                         |
|                                                                   | 5,710,322                                                                                                                             |   | 2,704,533                                                                                                                                         |
| Fair                market value of interest rate                      |                                                                                                                                  |   |                                                                                                                                              |
|                   swap liability                             | 34,892                                                                                                                                |   | 19,053                                                                                                                                            |
| Long-term                portion                                       | $5,745,214                                                                                                                            |   | $2,723,586                                                                                                                                        |

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

| **Year                Ending** |       |   |
|--------------------------------|------------|--------|
| **January                31,** |       |   |
| 2007                           | $1,943,898 |   |
| 2008                           | 1,561,472  |   |
| 2009                           | 1,561,472  |   |
| 2010                           | 361,472    |   |
| 2011                           | 361,472    |   |
| Thereafter                     | 1,864,434  |   |
|                           | $7,654,220 |   |

**NOTE      9 - ACCUMULATED OTHER COMPREHENSIVE LOSS**

|                                                                        |             October                31,                             |   |                            January 31, |   |
|-----------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------|--------|
|                                                                        |                                                2006 |   |                            2006   |   |
| Interest                rate swap, net of tax                               | ($23,378                                                                                                                       | )      | ($12,385                                                                                 | )      |
| Unrealized                loss on securities available-for sale, net of tax | (1,022                                                                                                                         | )      | -                                                                                        |   |
| Cumulative                translation of adjustment                         | 610,321                                                                                                                        |   | 400,431                                                                                  |   |
| Minimum                pension liability adjustment, net of tax             | (709,867                                                                                                                       | )      | (709,867                                                                                 | )      |
|                                                                        | ($123,946                                                                                                                      | )      | ($321,821                                                                                | )      |

**NOTE      10 - OTHER INCOME, NET**

|                                                |                                                                                                                 | Nine                Months Ended |                                                                                                                                               | Three                Months Ended |                                                                                                                 |
|-----------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                                |                                                                                                                 | October                31,       |                                                                                                                                               | October                31,        |                                                                                                                 |
|                                                |                                 2006 |                             |                                      2005 |                              |                                 2006 |   |                                2005 |   |
| Interest                income                      | $736,050                                                                                                             |                             | $426,009                                                                                                                                           |                              | $242,066                                                                                                             |   | $168,268 |   |
| Other                miscellaneous income/(expense) | 23,662                                                                                                               |                             | 31,186                                                                                                                                             |                              | 12,395                                                                                                               |   | (5,658 | ) |
|                                                | $759,712                                                                                                             |                             | $457,195                                                                                                                                           |                              | $254,461                                                                                                             |   | $162,610 |   |

Index

----

**MET-PRO            CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE      11 - EMPLOYEE BENEFIT PLANS**

**Pension      Plans: **

|                                                  | Net                Periodic Pension Cost                 |   |
|-------------------------------------------------------|----------------------------------------------------------|--------|
|                                                  |                  Nine Months Ended                  |   |                   Three Months Ended |   |
|                                                  |                  October 31,                        |   |                  October 31, |   |
|                                                  |                       2006 |   |                       2005 |   |                       2006 |   |                        2005 |   |   |
| Service                cost                           | $523,584                                                 |   | $465,048 |   | $169,460 |   | $155,016 |   |   |
| Interest                cost                          | 764,040                                                  |   | 772,488 |   | 228,226 |   | 257,496 |   |   |
| Expected                return on plan assets         | (877,394                                                 | )      | (770,700 | ) | (292,464 | ) | (256,900 | ) |   |
| Amortization                of transition asset       | (24,986                                                  | )      | (7,887 | ) | (                16,928 | ) | (2,629 | ) |   |
| Amortization                of prior service cost     | 62,416                                                   |   | 75,888 |   | 13,010 |   | 25,296 |   |   |
| Recognized                net actuarial loss          | 63,726                                                   |   | 20,727 |   | 12,048 |   | 6,909 |   |   |
| Curtailment                loss                       | 234,180                                                  |   | - |   | 234,180 |   | - |   |   |
|                   Net periodic pension cost | $                745,566                                 |   | $555,564 |   | $347,532 |   | $185,188 |   |   |

Index

----

**MET-PRO            CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE      12 - BUSINESS SEGMENT DATA**

*”*

*Product      Recovery/Pollution Control Equipment:*

*Fluid      Handling Equipment:*

*Filtration      and Purification*

Index

----

**MET-PRO          CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

|                                                                     | Nine                Months Ended         | Three                Months Ended                                                |
|--------------------------------------------------------------------------|------------------------------------------|----------------------------------------------------------------------------------------------------------------|
|                                                                     | October                31,               | October                31,               |
|                                                                     | 2006       |                                                                                                           | 2005       |   | 2006       |   | 2005                       |
| **Net                sales**                                             |                                     |                                                                                                           |   |   |   |   |   |
|                   Product recovery/pollution control equipment | $35,083,198                              |                                                                                                           | $30,483,973 |   | $12,991,946 |   | $11,319,446 |
|    Fluid                handling equipment                | 19,440,477                               |                                                                                                           | 17,279,997 |   | 7,416,844 |   | 5,733,900 |
|                   Filtration and purification                  | 14,358,175                               |                                                                                                           | 14,728,954 |   | 4,915,137 |   | 4,865,446 |
|                                                                     | $68,881,850                              |                                                                                                           | $62,492,924 |   | $25,323,927 |   | $21,918,792 |
|                                                                     |                                     |                                                                                                           |   |   |   |   |   |
| **Income                from operations**                                |                                     |                                                                                                           |   |   |   |   |   |
|                   Product recovery/pollution control equipment | $3,140,233                               |                                                                                                           | $2,651,828 |   | $1,734,161 |   | $1,008,424 |
|                   Fluid handling equipment                     | 3,054,544                                |                                                                                                           | 2,751,401 |   | 1,320,796 |   | 897,015 |
|                   Filtration and purification                  | 1,046,732                                |                                                                                                           | 1,810,053 |   | 109,000 |   | 578,802 |
|                                                                     | $7,241,509                               |                                                                                                           | $7,213,282 |   | $3,163,957 |   | $2,484,241 |

|                                                                     | October                31, |   | January                31, |
|--------------------------------------------------------------------------|----------------------------|--------|----------------------------|
|                                                                     |  2006                 |   | 2006                       |
| **Identifiable                assets**                                   |                       |   |                       |
|                   Product recovery/pollution control equipment | $35,145,911                |   | $34,173,031                |
|                   Fluid handling equipment                     | 22,189,737                 |   | 17,008,765                 |
|                   Filtration and purification                  | 20,218,663                 |   | 17,653,316                 |
|                                                                     | 77,554,311                 |   | 68,835,112                 |
|                   Corporate                                    | 20,642,914                 |   | 20,827,813                 |
|                                                                     | $98,197,225                |   | $89,662,925                |

**NOTE      13 - ACCOUNTANTS’ 10-Q REVIEW**

Index

----

**MET-PRO          CORPORATION**

**REPORT      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING      FIRM**

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

Index

----

**MET-PRO        CORPORATION**

**Item      2. *****Management’s      Discussion and Analysis of Financial Condition and Results of      Operations***** **

*The      following discussion should be read in conjunction with, and is qualified in      its      entirety by, the Unaudited Consolidated Financial Statements and Notes thereto      included elsewhere in this Quarterly Report on Form 10-Q. This item contains      forward-looking statements that involve risks and uncertainties. Actual results      may differ materially from those indicated in such forward-looking statements.      Factors that may cause such a difference include, but are not limited to, those      discussed in “Item 1A: Risk Factors” of our Annual Report on Form 10-K for      the year ended January 31, 2006.*

***Results      of Operations:***

|                                                       |   | **                             Nine Months                Ended** |   | **                         Three Months                Ended** |
|------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|
|                                                       |   | **                              October 31,**           |   | **                          October 31,**            |
|                                                       |   | **                         2006**                                                |   | **2005**                                                                                               |   | **2006** |   | **2005** |   |
| Net                Sales                                   |   | **100.0**                                                                                                                     | **%**  | 100.0                                                                                                  | % | **100.0** | **%** | 100.0 | % |
| Cost                of goods sold                          |   | **69.6**                                                                                                                      | **%**  | 68.4                                                                                                   | % | **67.2** | **%** | 69.4 | % |
| Gross                profit                                |   | **30.4**                                                                                                                      | **%**  | 31.6                                                                                                   | % | **32.8** | **%** | 30.6 | % |
|                                                       |   |                                                                                                                          |   |                                                                                                   |   |   |   |   |   |
| Selling                expenses                            |   | **9.1**                                                                                                                       | **%**  | 9.4                                                                                                    | % | **9.1** | **%** | 9.0 | % |
| General                and administrative expenses         |   | **10.4**                                                                                                                      | **%**  | 10.6                                                                                                   | % | **10.4** | **%** | 10.3 | % |
| Loss                on the curtailment of pension benefits |   | **.3**                                                                                                                        | **%**  | -                                                                                                      |   | **.9** | **%** | - |   |
| Income                from operations                      |   | **10.6**                                                                                                                      | **%**  | 11.6                                                                                                   | % | **12.4** | **%** | 11.3 | % |
|                                                       |   |                                                                                                                          |   |                                                                                                   |   |   |   |   |   |
| Interest                expense                            |   | **(.4**                                                                                                                       | **%)** | (.3                                                                                                    | %) | **(.4** | **%)** | (.3 | %) |
| Other                income, net                           |   | **1.1**                                                                                                                       | **%**  | .7                                                                                                     | % | **1.0** | **%** | .7 | % |
| Income                before taxes                         |   | **11.3**                                                                                                                      | **%**  | 12.0                                                                                                   | % | **13.0** | **%** | 11.7 | % |
|                                                       |   |                                                                                                                          |   |                                                                                                   |   |   |   |   |   |
| Provision                for taxes                         |   | **3.7**                                                                                                                       | **%**  | 3.7                                                                                                    | % | **4.5** | **%** | 3.2 | % |
| Net                income                                  |   | **7.6**                                                                                                                       | **%**  | 8.3                                                                                                    | % | **8.5** | **%** | 8.5 | % |

***Nine      Months Ended October 31, 2006 vs. Nine Months Ended October 31,      2005***

Index

----

**MET-PRO          CORPORATION**

**Item      2.  **
***Management’s      Discussion and Analysis of Financial Condition and Results of Operations      continued…***

Index

----

**MET-PRO          CORPORATION**

**Item      2.  **
***Management’s      Discussion and Analysis of Financial Condition and Results of Operations      continued…***

***Three      Months Ended October 31, 2006 vs. Three Months Ended October 31,      2005***

Index

----

**MET-PRO            CORPORATION**

**Item        2.  **
***Management’s        Discussion and Analysis of Financial Condition and Results of Operations        continued…***

Index

----

**MET-PRO            CORPORATION**

**Item        2.  **
***Management’s Discussion and Analysis of Financial        Condition and Results of        Operations***
** **
***continued…***

***Liquidity:***

***Capital        Resources and Requirements:***

Index

----

**MET-PRO          CORPORATION**

**Item      2.  **
***Management’s      Discussion and Analysis of Financial Condition and Results of      Operations***
** **
***continued…***

***Critical      Accounting Policies and Estimates:***

Index

----

**MET-PRO            CORPORATION**

**Item        2.  **
***Management’s        Discussion and Analysis o***
***f        Financial Condition and Results of Operations***
** **
***continued…***

***Cautionary        Statement Concerning Forward-Looking Statements:***

| **·                 ** | 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, 2006 and 2005. During the fiscal year ended January 31,                2006,                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, 2006, the actual                net                sales and operating profits for our Flex-Kleen business unit have                exceeded                the projections used in our annual impairment model, and in addition                the                backlog as of October 31, 2006 for the Flex-Kleen business unit totaled                $6.2 million or an increase of 206% over the same period of last                year.                Flex-Kleen’s performance needs to continue to improve in order for us not                to be required to write-off some or all of its                goodwill; |
|--------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·                 ** | 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. |
|--------------------------------------------|-----------------------------------------------------------------------------|

Index

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**MET-PRO          CORPORATION**

**Item        3.  *****Qualitative        and Quantitative Disclosures about Market Risk***

**Item      4. *****Controls      and Procedures***

**PART      II - OTHER INFORMATION**

**Item      1.**       ***Legal      Proceedings***

*Certain      of the statements made in this Item 1 (and elsewhere in this Report) are“forward-looking” statements which are subject to the considerations set forth      in “Cautionary Statement Regarding Forward-Looking Statements” located in the      Management’s Discussion and Analysis of Financial Condition and Results of      Operations section of this Report, and we refer you to these      considerations.*

Index

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**MET-PRO          CORPORATION**

**Item      1.**  ***Legal      Proceedings***
***continued...***

**Item      1A. *****Risk      Factors***

**Item      2. *****Unregistered      Sales of Equity Securities and Use of Proceeds***

| (a)    | During                the third quarter ended October 31, 2006, 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, 2006:                                                                                 |

**Equity      Securities**

|                                |   |                     |   |                      |   |                      |   |                     |   |
|-------------------------------------|--------|--------------------------|--------|---------------------------|--------|---------------------------|--------|--------------------------|--------|
|                                |   |                     |   |                      |   | Total                     |   | Maximum                  |   |
|                                |   |                     |   |                      |   | Number                of  |   | Number                of |   |
|                                |   |                     |   |                      |   | Shares                    |   | Shares                   |   |
|                                |   |                     |   |                      |   | Purchased                 |   | That                May  |   |
|                                |   |                     |   |                      |   | As                Part of |   | Yet                be    |   |
|                                |   | Total                    |   |                      |   | Publicly                  |   | Purchased                |   |
|                                |   | Number                of |   | Average                   |   | Announced                 |   | Under                the |   |
|                                |   | Shares                   |   | Price                Paid |   | Plans                or   |   | Plan                or   |   |
| **Period**                          |   | Purchased                |   | Per                Share  |   | Programs                  |   | Programs                 | (1)    |
|                                |   |                     |   |                      |   |                      |   |                     |   |
| August                1-31, 2006    |   | 0                        |   | $                -        |   | 0                         |   | 270,918                  |   |
| September                1-30, 2006 |   | 0                        |   | -                         |   | 0                         |   | 270,918                  |   |
| October                1-31, 2006   |   | 0                        |   | -                         |   | 0                         |   | 270,918                  |   |
| Total                               |   | 0                        |   | $                -        |   | 0                         |   | 270,918                  |   |

| (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 533,333 (adjusted for stock split) shares. The program has                no fixed                expiration date. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      3.**       ***Defaults      Upon Senior Securities***

**Item      4. *****Submission      of Matters to a Vote of Security Holders***

Index

----

**MET-PRO          CORPORATION**

**Item      5.  *****Other      Information***

**Item      6. *****Exhibits***

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

Index

----

**MET-PRO          CORPORATION**

**SIGNATURES**

|   | 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)                                               |
|                                               |                                                       |
|                                               |                                                       |
|                                               |                                                       |
|                                               |                                                       |
| December                11, 2006         | /s/                Raymond J. De Hont                      |
|                                               | **Raymond                J. De Hont**                      |
|                                               | **Chairman,                President and Chief Executive** |
|                                               | **Officer**                                                |
|                                               |                                                       |
|                                               |                                                       |
|                                               |                                                       |
|                                               |                                                       |
| December                11, 2006    | /s/                Gary J. Morgan                          |
|                                               | **Gary                J. Morgan**                          |
|                                               | **Senior                Vice President of Finance,**       |
|                                               | **Secretary                and Treasurer, Chief**          |
|                                               | **Financial                Officer, Chief Accounting**     |
|                                               | **Officer                and Director**                    |

Index

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