----

----

| 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)          |

----

----

----

INDEX

| PART I – FINANCIAL INFORMATION |                                                     |
|--------------------------------------|----------------------------------------------------------|
|                                 |                                                     |   |   |
|   Item 1.                       |                                                     | Financial Statements |   |
|                                 |                                                     |   |    |
|                                 | Consolidated Balance Sheet                               |   |
|                                 |                                                     | as of April 30, 2010 and January 31, 2010 | 2 |
|                                 | Consolidated Statement of Income                         |   |
|                                 |                                                     | for the three-month period ended April 30, 2010 and 2009 | 3 |
|                                 | Consolidated Statement of Shareholders’ Equity     |   |
|                                 |                                                     | for the three-month period ended April 30, 2010 and 2009 | 4 |
|                                 | Consolidated Statement of Cash Flows                     |   |
|                                 |                                                     | for the three-month period ended April 30, 2010 and 2009 | 5 |
|                                 | Notes to Consolidated Financial Statements          | 6 |
|                                 | Reports of Independent Registered Pubic Accounting Firms | 18 |
|                                 |                                                     |   |   |
|   Item 2.                       |                                                     | Management’s Discussion and Analysis of Financial Condition and Results of Operations  | 20 |
|                                 |                                                     |   |   |
|   Item 3.                  |                                                     | Qualitative and Quantitative Disclosures about Market Risk | 26 |
|                                 |                                                     |   |   |
|   Item 4.                       |                                                     | Controls and Procedures | 26 |
|                                 |                                                     |   |   |
|                                 |                                                     |   |   |
| PART II – OTHER INFORMATION    |                                                     |
|                                 |                                                     |   |   |
|   Item 1.                  |                                                     | Legal Proceedings | 27 |
|                                 |                                                     |   |   |
|   Item 1A.                 |                                                     | Risk Factors | 27 |
|                                 |                                                     |   |   |
|   Item 2.                  |                                                     | Unregistered Sales of Equity Securities and Use of Proceeds | 28 |
|                                 |                                                     |   |   |
|   Item 3.                       |                                                     | Defaults Upon Senior Securities | 28 |
|                                 |                                                     |   |   |
|   Item 4.                  |                                                     | Submission of Matters to a Vote of Security Holders | 28 |
|                                 |                                                     |   |   |
|   Item 5.                  |                                                     | Other Information | 28 |
|                                 |                                                     |   |   |
|   Item 6.                       |                                                     | Exhibits | 29 |
|                                 |                                                     |   |   |
|                                 |                                                     |   |   |
| SIGNATURES                           | 30                                                       |

----

Index

CONSOLIDATED BALANCE SHEET

| PART I – FINANCIAL INFORMATION                                                                                                  |         |   |         |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------------|--------|--------------|--------|
|                                                                                                                                  |         |   |         |   |
| Item 1.  Financial Statements                                                                                               |         |   |         |   |
|                                                                                                                                  |         |   |         |   |
|                                                                                                                                  | April 30,    |   | January 31,  |   |
| ASSETS                                                                                                                                | 2010         |   | 2010         |   |
| Current assets                                                                                                                        | (unaudited)  |   |         |   |
|       Cash and cash equivalents                                                                         | $32,456,543  |   | $31,387,108  |   |
|       Accounts receivable, net of allowance for                                                         |         |   |         |   |
|          doubtful accounts of approximately                                              |         |   |         |   |
|          $185,000 and $204,000, respectively                                             | 15,592,477   |   | 14,011,950   |   |
|       Inventories                                                                                       | 15,680,708   |   | 16,136,521   |   |
|       Prepaid expenses, deposits and other current assets                                               | 1,418,008    |   | 1,709,664    |   |
|                Total current assets                        | 65,147,736   |   | 63,245,243   |   |
| Property, plant and equipment, net                                                                                                    | 19,500,572   |   | 19,860,751   |   |
| Goodwill                                                                                                                              | 20,798,913   |   | 20,798,913   |   |
| Other assets                                                                                                                          | 730,367      |   | 703,452      |   |
|                Total assets                                     | $106,177,588 |   | $104,608,359 |   |
|                                                                                                                                  |         |   |         |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                            |         |   |         |   |
| Current liabilities                                                                                                                   |         |   |         |   |
|       Current portion of long-term debt                                                                 | $528,761     |   | $534,251     |   |
|       Accounts payable                                                                                  | 5,263,975    |   | 4,297,936    |   |
|       Accrued salaries, wages and expenses                                                              | 4,064,286    |   | 3,425,691    |   |
|       Dividend payable                                                                                  | 877,200      |   | 876,279      |   |
|       Customers’ advances                                                                         | 371,787      |   | 882,637      |   |
|       Deferred income taxes                                                                             | 181,253      |   | 181,253      |   |
|                Total current liabilities                   | 11,287,262   |   | 10,198,047   |   |
| Long-term debt                                                                                                                        | 3,375,093    |   | 3,536,755    |   |
| Other non-current liabilities                                                                                                         | 8,292,854    |   | 8,179,410    |   |
| Deferred income taxes                                                                                                                 | 1,712,508    |   | 1,716,563    |   |
|                Total liabilities                           | 24,667,717   |   | 23,630,775   |   |
|                                                                                                                                  |         |   |         |   |
| Shareholders’ equity                                                                                                            |         |   |         |   |
|       Common shares, $.10 par value; 36,000,000 shares                                                  |         |   |         |   |
|          authorized, 15,928,679 shares issued, of which                                  |         |   |         |   |
|          1,308,687 and 1,311,664 shares were reacquired                                  |         |   |         |   |
|          and held in treasury at the respective dates                                    | 1,592,868    |   | 1,592,868    |   |
|       Additional paid-in capital                                                                        | 3,154,348    |   | 2,988,950    |   |
|       Retained earnings                                                                                 | 91,195,957   |   | 90,662,820   |   |
|       Accumulated other comprehensive loss                                                              | (3,828,041   | )      | (3,679,641   | )      |
|       Treasury shares, at cost                                                                          | (10,605,261  | )      | (10,587,413  | )      |
|                Total shareholders’ equity                 | 81,509,871   |   | 80,977,584   |   |
|                Total liabilities and shareholders’ equity | $106,177,588 |   | $104,608,359 |   |
| See accompanying notes to consolidated financial statements.                                                                          |         |   |         |

----

Index

CONSOLIDATED STATEMENT OF INCOME

|                                                | Three Months EndedApril 30, |
|-----------------------------------------------------|-----------------------------|
|                                                |
|                                                | 2010                        |   | 2009 |   |
|                                                |                        |   |   |   |
| Net sales                                           | $22,277,077                 |   | $19,641,008 |   |
| Cost of goods sold                                  | 14,295,538                  |   | 12,628,040 |   |
| Gross profit                                        | 7,981,539                   |   | 7,012,968 |   |
|                                                |                        |   |   |   |
| Operating expenses                                  |                        |   |   |   |
| Selling                                             | 2,932,897                   |   | 2,528,532 |   |
| General and administrative                          | 2,945,602                   |   | 3,012,327 |   |
|                                                | 5,878,499                   |   | 5,540,859 |   |
| Income from operations                              | 2,103,040                   |   | 1,472,109 |   |
|                                                |                        |   |   |   |
| Interest expense                                    | (82,510                     | ) | (53,823 | ) |
| Other income, net                                   | 117,468                     |   | 13,965 |   |
| Income before taxes                                 | 2,137,998                   |   | 1,432,251 |   |
|                                                |                        |   |   |   |
| Provision for taxes                                 | 726,920                     |   | 479,802 |   |
| Net income                                          | $1,411,078                  |   | $952,449 |   |
| Earnings per share, basic (1)                       | $.10                        |   | $.07 |   |
|                                                |                        |   |   |   |
| Earnings per share, diluted (2)                     | $.10                        |   | $.07 |   |
|                                                |                        |   |   |   |
| Cash dividend per share – declared (3)        | $.06                        |   | $.06 |   |
|                                                |                        |   |   |   |
| Cash dividend per share – paid  (3) | $.06                        |   | $.06 |   |

|   | (1) | Basic earnings per share are based upon the weighted average number of shares outstanding of 14,619,000 and 14,600,109 for the three-month periods ended April 30, 2010 and 2009, respectively. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Diluted earnings per share are based upon the weighted average number of shares outstanding of 14,693,035 and 14,645,792 for the three-month periods ended April 30, 2010 and 2009, respectively. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The Board of Directors declared quarterly dividends of $.06 per share payable on March 12, 2009, June 12, 2009, March 12, 2010 and June 11, 2010 to shareholders of record as of February 26, 2009, May 29, 2009, February 26, 2010 and May 28, 2010, respectively. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | See accompanying notes to consolidated financial statements. |
|--------|--------------------------------------------------------------|

----

Index

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY

|                                                                 |       |               |       |   |          |        |          |          | Accumulated |   |          |         |          |        |
|----------------------------------------------------------------------|------------|--------------------|------------|--------|---------------|-------------|---------------|---------------|-------------|--------|---------------|--------------|---------------|-------------|
|                                                                 |       |               | Additional |   |          |        |          | Other         |        |   |          |         |          |
|                                                                 | Common     |               | Paid-in    |   | Retained      |        | Comprehensive |          | Treasury    |   |          |         |
|                                                                 | Shares     |               | Capital    |   | Earnings      |        | Income/(Loss) |          | Shares      |   | Total         |         |
| Balances, January 31, 2010                                           | $1,592,868 |     | $2,988,950 |   |     | $90,662,820 |          |     | ($3,679,641 | )      |     | ($10,587,413 | )   | $80,977,584 |   |
|                                                                 |       |               |       |   |          |        |          |          |        |   |          |         |          |        |   |
| Comprehensive income:                                                |       |               |       |   |          |        |          |          |        |   |          |         |          |        |   |
|    Net income                                         | -          |               | -          |   |          | 1,411,078   |          |          | -           |   |          | -            |          |        |   |
|    Foreign currency translation                       |       |               |       |   |          |        |          |          |        |   |          |         |          |        |   |
|      adjustment                             | -          |               | -          |   |          | -           |          |          | (149,673    | )      |          | -            |          |        |   |
|    Interest rate swap,                                |       |               |       |   |          |        |          |          |        |   |          |         |          |        |   |
|      net of tax of ($748)              | -          |               | -          |   |          | -           |          |          | 1,273       |   |          | -            |          |        |   |
|        Total comprehensive income |       |               |       |   |          |        |          |          |        |   |          |         |          | 1,262,678   |   |
|                                                                 |       |               |       |   |          |        |          |          |        |   |          |         |          |        |   |
| Dividends declared, $.06 per share                                   | -          |               | -          |   |          | (877,941    | )             |          | -           |   |          | -            |          | (877,941    | ) |
| Stock-based compensation                                             | -          |               | 161,472    |   |          | -           |          |          | -           |   |          | -            |          | 161,472     |   |
| Stock option transactions                                            | -          |               | 3,926      |   |          | -           |          |          | -           |   |          | 208,818      |          | 212,744     |   |
| Purchase of 22,803 treasury shares                                   | -          |               | -          |   |          | -           |          |          | -           |   |          | (226,666     | )             | (226,666    | ) |
| Balances, April 30, 2010                                             | $1,592,868 |               | $3,154,348 |   |          | $91,195,957 |          |          | ($3,828,041 | )      |          | ($10,605,261 | )   | $81,509,871 |   |

|                                                                 |       |               |       |   |          |        |          | Accumulated   |        |   |          |         |          |
|----------------------------------------------------------------------|------------|--------------------|------------|--------|---------------|-------------|---------------|---------------|-------------|--------|---------------|--------------|---------------|
|                                                                 |       |               | Additional |   |          |        |          | Other         |        |   |          |         |          |
|                                                                 | Common     |               | Paid-in    |   | Retained      |        | Comprehensive |          | Treasury    |   |          |         |
|                                                                 | Shares     |               | Capital    |   | Earnings      |        | Income/(Loss) |          | Shares      |   | Total         |         |
| Balances, January 31, 2009                                           | $1,592,868 |     | $2,465,193 |   |     | $89,727,308 |          |     | ($4,324,293 | )      |     | ($10,683,595 | )   | $78,777,481 |   |
|                                                                 |       |               |       |   |          |        |          |          |        |   |          |         |          |   |   |
| Comprehensive income:                                                |       |               |       |   |          |        |          |          |        |   |          |         |          |   |   |
|    Net income                                         | -          |               | -          |   |          | 952,449     |          |          | -           |   |          | -            |          |   |   |
|    Foreign currency translation                       |       |               |       |   |          |        |          |          |        |   |          |         |          |   |   |
|      adjustment                             | -          |               | -          |   |          | -           |          |          | 165,097     |   |          | -            |          |   |   |
|    Interest rate swap,                                |       |               |       |   |          |        |          |          |        |   |          |         |          |   |   |
|      net of tax of ($12,858)           | -          |               | -          |   |          | -           |          |          | 21,893      |   |          | -            |          |   |   |
|        Total comprehensive income |       |               |       |   |          |        |          |          |        |   |          |         |          | 1,139,439 |   |
|                                                                 |       |               |       |   |          |        |          |          |        |   |          |         |          |   |   |
| Dividends declared, $.06 per share                                   | -          |               | -          |   |          | (876,007    | )             |          | -           |   |          | -            |          | (876,007 | ) |
| Stock-based compensation                                             | -          |               | 164,877    |   |          | -           |          |          | -           |   |          | -            |          | 164,877 |   |
| Balances, April 30, 2009                                             | $1,592,868 |          | $2,630,070 |   |          | $89,803,750 |          |          | ($4,137,303 | )      |          | ($10,683,595 | )   | $79,205,790 |   |

----

Index

CONSOLIDATED STATEMENT OF CASH FLOWS

|                                                                                                                                                                 |   |   |               |   |        |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------------|--------|-------------|--------|
|                                                                                                                                                                 |   |   | Three Months Ended |   |
|                                                                                                                                                                 |   |   | April 30,          |   |
|                                                                                                                                                                 |   |   | 2010               |   | 2009        |   |
|                                                                                                                                                                 |   |   |               |   |        |   |
| Cash flows from operating activities                                                                                                                                 |   |   |               |   |        |   |
|    Net income                                                                                                                                         |   |   | $1,411,078         |   | $952,449    |   |
|    Adjustments to reconcile net income to net           cash provided by operating activities: |   |   |               |   |        |   |
|        Depreciation and amortization                                                                                              |   |   | 445,252            |   | 480,672     |   |
|        Deferred income taxes                                                                                                      |   |   | (597               | )      | (597        | )      |
|        (Gain) on sales of property and equipment, net                                                                             |   |   | -                  |   | (12,195     | )      |
|        Stock-based compensation                                                                                                   |   |   | 161,472            |   | 164,876     |   |
|        Allowance for doubtful accounts                                                                                            |   |   | (18,557            | )      | 42,941      |   |
|        Change in operating assets and liabilities:                                                                                |   |   |               |   |        |   |
|            Accounts receivable                                                                                |   |   | (1,556,207         | )      | 5,695,089   |   |
|            Inventories                                                                                        |   |   | 395,944            |   | (381,726    | )      |
|            Prepaid expenses, deposits and other assets                                                        |   |   | 250,155            |   | 274,636     |   |
|            Accounts payable and accrued expenses                                                              |   |   | 1,608,371          |   | (1,378,851  | )      |
|            Customers’ advances                                                                          |   |   | (511,077           | )      | 27,013      |   |
|            Other non-current liabilities                                                                      |   |   | 113,443            |   | 84,276      |   |
| Net cash provided by operating activities                                                                                                                            |   |   | 2,299,277          |   | 5,948,583   |   |
|                                                                                                                                                                 |   |   |               |   |        |   |
| Cash flows from investing activities                                                                                                                                 |   |   |               |   |        |   |
|    Proceeds from sales of property and equipment                                                                                                      |   |   | -                  |   | 18,882      |   |
|    Acquisitions of property and equipment                                                                                                             |   |   | (210,475           | )      | (797,497    | )      |
| Net cash used in investing activities                                                                                                                                |   |   | (210,475           | )      | (778,615    | )      |
|                                                                                                                                                                 |   |   |               |   |        |   |
| Cash flows from financing activities                                                                                                                                 |   |   |               |   |        |   |
|    Proceeds from new borrowing                                                                                                                        |   |   | -                  |   | 485,336     |   |
|    Reduction of debt                                                                                                                                  |   |   | (132,845           | )      | (104,440    | )      |
|    Exercise of stock options                                                                                                                          |   |   | 212,744            |   | -           |   |
|    Payment of dividends                                                                                                                               |   |   | (877,021           | )      | (876,007    | )      |
|    Purchase of treasury shares                                                                                                                        |   |   | (226,666           | )      | -           |   |
| Net cash used in financing activities                                                                                                                                |   |   | (1,023,788         | )      | (495,111    | )      |
| Effect of exchange rate changes on cash                                                                                                                              |   |   | 4,421              |   | 22,207      |   |
|                                                                                                                                                                 |   |   |               |   |        |   |
| Net increase in cash and cash equivalents                                                                                                                            |   |   | 1,069,435          |   | 4,697,064   |   |
|                                                                                                                                                                 |   |   |               |   |        |   |
| Cash and cash equivalents at February 1                                                                                                                              |   |   | 31,387,108         |   | 21,749,653  |   |
| Cash and cash equivalents at April 30                                                                                                                                |   |   | $32,456,543        |   | $26,446,717 |   |
| See accompanying notes to consolidated financial statements.                                                                                                         |   |   |               |   |

----

Index

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| ·   | Level 1 – Quoted prices (unadjusted) in active markets for identical, unrestricted assets or liabilities that the Company has the ability to access at the measurement date; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Level 3 – Unobservable inputs used in valuation in which there is little market activity for the asset or liability at the measurement date. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

----

Index

|                        |                                                                                                        |   |   | Three Months Ended |
|-----------------------------|-------------------------------------------------------------------------------------------------------------|--------|--------|--------------------|
|                        |                                                                                                        |   |   | April 30,          |
|                        |                                                                                                        |   |   | 2010               |   |   | 2009 |
| Numerator:                  |                                                                                                        |   |   |               |   |   |
|                        | Net Income                                                                                                  |   |   | $1,411,078         |   |   | $952,449 |
| Denominator:                |                                                                                                        |   |   |               |   |   |
|                        | Weighted average common shares outstanding during the period for basic    computation   |   |   | 14,619,000         |   |   | 14,600,109 |
|                        | Dilutive effect of stock-based compensation plans                                                           |   |   | 74,035             |   |   | 45,683 |
|                        | Weighted average common shares outstanding during the period for diluted    computation |   |   | 14,693,035         |   |   | 14,645,792 |
|                        |                                                                                                        |   |   |               |   |   |
| Earnings per share, basic   |                                                                                                        |   | $.10   |               |   | $.07 |
| Earnings per share, diluted |                                                                                                        |   | $.10   |               |   | $.07 |

----

Index

|                          | Three Months Ended |
|-------------------------------|--------------------|
|                          | April 31,          |
|                          | 2010               |   | 2009 |
|  Expected term (years)   | 3.0 - 5.0          |   | 3.0 - 5.0 |
|  Risk-free interest rate | 1.90% - 3.53%      |   | 1.90% - 4.50% |
|  Expected volatility     | 29% - 45%          |   | 29% - 39% |
|  Dividend yield          | 1.88% - 2.48%      |   | 1.86% - 2.80% |

|     |                            |      |   |           |   |         | Weighted |            |       |
|----------|---------------------------------|-----------|--------|----------------|--------|--------------|----------|-----------------|------------|
|     |                            |      |   | Weighted       |   | Average      |     |            |
|     |                            |      |   | Average        |   | Remaining    |     | Aggregate       |
|     |                            | Shares    |   | Exercise Price |   | Life (years) |     | Intrinsic Value |
| Options: |                            |      |   |           |   |         |     |            |
|     | Outstanding at February 1, 2010 | 1,373,027 |   | $9.6866        |   |         | 6.41     |            |       |
|     | Granted                         | -         |   | -              |   |         |     |            |       |
|     | Forfeited                       | (30,750   | )      | 10.3897        |   |         |     |            |       |
|     | Expired                         | -         |   | -              |   |         |     |            |       |
|     | Exercised                       | (25,780   | )      | 8.2523         |   |         |     |            |       |
|     | Outstanding at April 30, 2010   | 1,316,497 |   | $9.6983        |   |         | 5.98     |            | $1,304,149 |
|     |                            |      |   |           |   |         |     |            |       |
|     | Exercisable at April 30, 2010   | 945,143   |   | $9.4063        |   |         | 5.98     |            | $1,200,635 |

----

Index

|                 |   | Options Outstanding |             | Options Exercisable |
|----------------------|--------|---------------------|------------------|---------------------|
|                 |   |                | Weighted Average |                |   |   |   |
|                 |   |                | Remaining        | Weighted Average    |   |   | Weighted Average |
|                 |   | Shares              | Life (years)     | Exercise Price      |   | Shares | Exercise Price |
| Range of prices:     |   |                |             |                |   |   |   |   |   |   |   |   |
| $5.00 – 5.49   |   | 24,180              |             | 0.83                |   | $5.1047 |   |   | 24,180 |   | $5.1047 |   |
| $5.50 – 6.99   |   | 113,072             |             | 2.56                |   | 5.5259 |   |   | 113,072 |   | 5.5259 |   |
| $7.00 – 8.99   |   | 121,450             |             | 4.67                |   | 7.4583 |   |   | 121,450 |   | 7.4583 |   |
| $9.00 – 9.99   |   | 474,790             |             | 6.95                |   | 9.4806 |   |   | 259,707 |   | 9.3072 |   |
| $10.00 – 10.99 |   | 190,005             |             | 5.34                |   | 10.8975 |   |   | 190,005 |   | 10.8975 |   |
| $11.00 – 11.99 |   | 393,000             |             | 6.80                |   | 11.5567 |   |   | 236,729 |   | 11.6104 |   |
|                 |   | 1,316,497           |             | 5.98                |   | $9.6983 |   |   | 945,143 |   | $9.4063 |   |

|             | April 30,2010 |   |  January 31,2010 |
|------------------|---------------|--------|-----------------------|
| Raw materials    | $11,729,408   |   | $11,965,727           |
| Work in progress | 1,876,144     |   | 2,023,065             |
| Finished goods   | 2,075,156     |   | 2,147,729             |
|             | $15,680,708   |   | $16,136,521           |

|                                         | Three Months Ended April 30, |
|----------------------------------------------|-----------------------------------|
|                                         | 2010                              |   | 2009 |
|   Cash paid during the period for: |                              |   |   |
|      Interest       | $55,575                           |   | $52,342 |
|      Income taxes   | 59,584                            |   | 15,441 |

----

Index

----

Index

|                                                                 | April 30,  |   | January 31, |
|----------------------------------------------------------------------|------------|--------|-------------|
|                                                                 | 2010       |   |        | 2010 |
|                                                                 |       |   |        |   |
| Bond payable, bank, payable in quarterly installments of             |       |   |        |   |
|  $58,460, plus interest at a rate equal to the greater of       |       |   |        |   |
|  (i) 16 basis points below the ninety day LIBOR rate       |       |   |        |   |
|  or (ii) 250 basis points (effective interest rate of 2.50%     |       |   |        |   |
|  at April 30, 2010), maturing April, 2021, collateralized       |       |   |        |   |
|  by the Telford, PA building                                    | $2,572,260 |   |        | $2,630,720 |
|                                                                 |       |   |        |   |
| Note payable, bank, payable in quarterly installments of             |       |   |        |   |
|  $33,285 (25,000 Euro), plus interest at a fixed rate of 3.82%, |       |   |        |   |
|  maturing January, 2016                                         | 765,555    |   |        | 831,782 |
|                                                                 |       |   |        |   |
| Equipment note, payable in monthly installments of                   |       |   |        |   |
|  $13,482, no interest, maturing March 2012                      | 310,076    |   |        | 350,520 |
|                                                                 |       |   |        |   |
|                                                                 | 3,647,891  |   |        | 3,813,022 |
| Less current portion                                                 | 528,761    |   |        | 534,251 |
|                                                                 | 3,119,130  |   |        | 3,278,771 |
| Fair market value of interest rate swap liability                    | 255,963    |   |        | 257,984 |
| Long-term portion                                                    | $3,375,093 |   |        | $3,536,755 |

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Index

| Quarter Ended |       |   |
|---------------|------------|--------|
| April 30,     |       |   |
| 2011          | $528,761   |   |
| 2012          | 515,275    |   |
| 2013          | 366,980    |   |
| 2014          | 366,980    |   |
| 2015          | 366,980    |   |
| Thereafter    | 1,502,915  |   |
|          | $3,647,891 |   |

|                                             | April 30,   |   | January 31, |   |
|--------------------------------------------------|-------------|--------|-------------|--------|
|                                             | 2010        |   | 2010        |   |
| Interest rate swap, net of tax                   | ($161,257   | )      | ($162,530   | )      |
| Foreign currency translation adjustment          | 970,599     |   | 1,120,272   |   |
| Minimum pension liability adjustment, net of tax | (4,637,383  | )      | (4,637,383  | )      |
|                                             | ($3,828,041 | )      | ($3,679,641 | )      |

|                                 |   | Three Months Ended |   |
|--------------------------------------|--------|--------------------|--------|
|                                 |   | April 30,          |   |
|                                 |   | 2010               |   | 2009 |   |
| Interest income                      |   | $81,234            |   | $24,184 |   |
| Other miscellaneous income (charges) |   | 36,234             |   | (10,219 | ) |
|                                 |   | $117,468           |   | $13,965 |   |

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Index

|                               | Three Months EndedApril 30, |   |
|------------------------------------|-----------------------------|--------|
|                               |    2010           |   |    2009 |   |
| Service cost                       | $17,000                     |   | $17,306 |   |
| Interest cost                      | 272,750                     |   | 284,949 |   |
| Expected return on plan assets     | (243,250                    | )      | (187,079 | ) |
| Amortization of transition asset   | -                           |   | - |   |
| Amortization of prior service cost | -                           |   | (211 | ) |
| Recognized net actuarial loss      | 56,000                      |   | 59,316 |   |
| Net periodic benefit (income) cost | $102,500                    |   | $174,281 |   |

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Index

|                                            | Three Months EndedApril 30, |
|-------------------------------------------------|-----------------------------|
|                                            | 2010                        |   | 2009 |   |
| Net sales                                       |                        |   |   |   |
| Product Recovery/Pollution Control Technologies | $11,013,225                 |   | $7,569,982 |   |
| Fluid Handling Technologies                     |  6,530,571             |   |  6,978,462 |   |
| Mefiag Filtration Technologies                  |  2,434,249             |   |  2,487,250 |   |
| Filtration/Purification Technologies            | 2,299,032                   |   | 2,605,314 |   |
|                                            | $22,277,077                 |   | $19,641,008 |   |
|                                            |                        |   |   |   |
| Income (loss) from operations                   |                        |   |   |   |
| Product Recovery/Pollution Control Technologies | $516,161                    |       | $145,203 |   |
| Fluid Handling Technologies                     |  1,288,796             |   |  1,306,005 |   |
| Mefiag Filtration Technologies                  | 206,519                     |   | (15,403 | ) |
| Filtration/Purification Technologies            | 91,564                      |   | 36,304 |   |
|                                            | $2,103,040                  |   | $1,472,109 |   |
|                                            |                        |   |   |   |
|                                            |                        |   |   |   |
|                                            | April 30,                   |   | January 31, |   |
|                                            | 2010                        |   | 2010 |   |
| Identifiable assets                             |                        |   |   |   |
| Product Recovery/Pollution Control Technologies | $35,322,331                 |   | $34,466,168 |    |
| Fluid Handling Technologies                     | 17,555,792                  |   | 18,068,428 |   |
| Mefiag Filtration Technologies                  | 12,531,954                  |   | 12,257,281 |   |
| Filtration/Purification Technologies            | 8,211,089                   |   | 8,257,837 |   |
|                                            | 73,621,166                  |       | 73,049,714 |   |
| Corporate                                       | 32,556,422                  |   | 31,558,645 |   |
|                                            | $106,177,588                |   | $104,608,359 |   |

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

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

|                                | Three Months EndedApril 30,  |
|-------------------------------------|------------------------------|
|                                |
|                                |     2010 |   |     2009 |   |
|                                |                         |   |
| Net sales                           | 100.0                        | %       | 100.0 | % |
| Cost of goods sold                  | 64.2                         | % | 64.3 | % |
| Gross profit                        | 35.8                         | % | 35.7 | % |
|                                |                         |   |   |   |
| Selling expenses                    | 13.2                         | % | 12.9 | % |
| General and administrative expenses | 13.2                         | % | 15.3 | % |
| Income from operations              | 9.4                          | % | 7.5 | % |
|                                |                         |   |   |   |
| Interest expense                    | (0.3                         | %)       | (0.3 | %) |
| Other income, net                   | 0.5                          | % | 0.1 | % |
| Income before taxes                 | 9.6                          | % | 7.3 | % |
|                                |                         |   |   |   |
| Provision for taxes                 | 3.3                          | % | 2.4 | % |
| Net income                          | 6.3                          | % | 4.9 | % |

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| ·   | the write-down of goodwill, as a result of the determination that the acquired business is impaired.  Flex-Kleen, which initially performed well after being acquired by Met-Pro, thereafter had several years of declining performance which we attributed primarily to a general weakness in its served markets, followed by improved performance in the fiscal years ended January 31, 2007, 2008 and 2009.  In the fiscal year ended January 31, 2010, Flex-Kleen’s net sales and operating profit were below the projections in our impairment model, which we believe was a reflection of the downturn in global business and economic conditions during this period of time and was not due to any new development specific to Flex-Kleen.  During the fiscal year ended January 31, 2010, 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 three-month period ended April 30, 2010, the annualized projection for net sales and operating profit for Flex-Kleen currently exceeds the projections used in our annual impairment model for the fiscal year ended January 31, 2011, but this expectation is a forward-looking statement where the actual results may not be as we presently anticipate; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | materially adverse changes in economic conditions (i) in the markets served by us or (ii) in significant customers or 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 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; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | weaknesses in our internal control over financial reporting, which either alone or combined with actions by our employees intended to circumvent our internal control over financial reporting, to violate our policies, or to commit fraud or other bad acts, could lead to incorrect reporting of financial results.  We believe that our internal control over financial reporting as of April 30, 2010 is effective; however, there are limits to any control system and we cannot give absolute assurance that our internal control is effective or that financial statement misstatements will not occur or that policy violations and/or fraud within the Company will not occur; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

Item 3.  Qualitative and Quantitative Disclosures About Market Risk

Item 4.  Controls and Procedures

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PART II – OTHER INFORMATION

Item 1A.  Risk Factors

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

| (a)   | During the first quarter ended April 30, 2010, 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 April 30, 2010: |
|-----------------|---------------------------------------------------------------------------------------------------------------------|

| Period              |   |   | TotalNumber ofSharesPurchased |   |   | AveragePrice PaidPer Share                                     |   |   | TotalNumber ofSharesPurchasedAs Part ofPubliclyAnnouncedPlans orPrograms |   |   | MaximumNumber ofSharesThat MayYet bePurchasedUnder thePlan orPrograms |           (1) |
|---------------------|--------|--------|-------------------------------|--------|--------|----------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------|-----------------------------------------------------------------|
|                |   |   |                          |   |   |                                                           |   |   |                                                                     |   |   |                                                                  |                                                            |
| February 1-28, 2010 |   |   | 0                             |   |   | $          - |   |   | 0                                                                        |   |   | 273,763                                                               |                                                            |
| March 1-31, 2010    |   |   | 22,803                        |   |   | 9.94                                                           |   |   | 22,803                                                                   |   |   | 250,960                                                               |                                                            |
| April 1-30, 2010    |   |   | 0                             |   |   | -                                                              |   |   | 0                                                                        |   |   | 250,960                                                               |                                                            |
| Total               |   |   | 22,803                        |   |   | $    9.94                                  |   |   | 22,803                                                                   |   |   | 250,960                                                               |                                                            |

|             | (1) | On November 3, 2008, our Board of Directors authorized a Common Share repurchase program that was publicly announced on November 5, 2008, for up to 300,000 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

Item 5.   Other Information

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

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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)                        |
|         |   |                                |
|         |   |                                |
| June 4, 2010 |   | /s/ Raymond J. De Hont              |
|         |   | Raymond J. De Hont                  |
|         |   | Chairman, Chief Executive Officer   |
|         |   | and President                       |
|         |   |                                |
|         |   |                                |
| June 4, 2010 |   | /s/ Gary J. Morgan                  |
|         |   | Gary J. Morgan                      |
|         |   | Senior Vice President of Finance,   |
|         |   | Secretary and Treasurer, Chief      |
|         |   | Financial Officer, Chief Accounting |
|         |   | Officer and Director                |
|         |   |                                |
|         |   |                                |

----