8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of  earliest event reported):   February 26, 2003

MET-PRO CORPORATION(Exact name of registrant as specified in its charter)

Delaware	001-07763	23-1683282
(State or other jurisdiction of	(Commission File Number)	(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)

Registrant’s telephone number, including area code: (215) 723-6751

    Item 9.  Regulation FD Disclosure.

On February 26, 2003, the Company issued a press release announcing its fourth quarter and fiscal year financial results for the period ended January 31, 2003. A copy of the press release is attached in Exhibit 99.1

SIGNATURE

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.

      Date: February 27, 2003

 MET-PRO CORPORATION

By:/s/ William L. Kacin

William L. Kacin, Chairman, Chief Executive Officer and President

Exhibit Index

Exhibit	Description
99.1	Press Release dated February 26, 2003

EX-99.1

Exhibit 99.1

160 CASSELL ROAD
BOX 144
HARLEYSVILLE, PA 19438
(215) 723-6751
FAX (215) 723-6758
TRADED: NYSE
SYMBOL: MPR NEWS RELEASE

date:	February 26, 2003
for release:	Immediate
contact:	William L. Kacin, Chairman/CEO/President

Met-Pro Corporation Announces Financial Results
for the Fiscal Year Ended 1/31/2003

• 17% Sales Increase Over 4th Quarter Last Year
• Quarterly Net Income Increase 35% Over Last Year
• 32% Earnings Per Share Increase Over 4th Quarter Last Year
• Highest Quarterly Earnings Per Share in the Past Six Quarters
• Backlog of Orders Increase 11% Over Same Period Last Year

Harleysville, PA, February 26 - William L. Kacin, Chairman and Chief Executive Officer of Met-Pro Corporation (NYSE: MPR), today announced sales and earnings per share for the fourth quarter and full year ended January 31, 2003.

Sales for the fourth quarter were $18.5 million, which was 17% above last year’s fourth quarter sales of $15.8 million. Sales for the fiscal year ended January 31, 2003 totaled $69.6 million, compared to $70.1 million for the same period last year.

Net income for the fourth quarter ended January 31, 2003 totaled $1.8 million compared to $1.3 million for the same quarter of last year, an increase of 35%. This increase was due to higher gross margins enjoyed in the Company’s Product Recovery/Pollution Control Equipment segment combined with cost reductions in both segments, which were initiated during the fourth quarter of last year.

Basic and diluted earnings per share were up $.07 to $.29, an increase of 32% over the $.22 earned during last year’s fourth quarter and were the highest in the Company’s past six quarters. Basic and diluted earnings per share were $.95 for the fiscal year ended January 31, 2003 compared to $1.01 for the prior fiscal year end. The lower earnings per share for the fiscal year were principally related to a $0.4 million or approximately $.05 per share net gain on the sale of property and equipment associated with our Systems Division’s operations during the fiscal year ended January 31, 2002.

Backlog of booked and unbooked orders awaiting drawing approval increased 11% to $15.8 million compared to $14.2 for the fiscal year ended January 31, 2002. A high percentage of this backlog is scheduled to be shipped during the current fiscal year.

In making this announcement, Kacin stated that “while it is difficult to predict the future, last year’s results demonstrate that our team at all of our operations is capable of adjusting to and handling the current economic realities and delivering solid results. Based on our lean, mean and motivated organizational structure, we are well positioned to deliver outstanding results as top line performance improves. We are optimistic about our future prospects.”

Met-Pro Corporation, with headquarters at 160 Cassell Road, Harleysville, Pennsylvania, is a manufacturer of air and water pollution control systems; fume scrubbers and odor control equipment; fluid handling equipment for corrosive, abrasive and high temperature liquids; filter products for drinking water, industrial and custom applications; wet and dry particulate dust collectors; specialty chemicals for controlling corrosion and reducing lead/copper in public drinking water; and state-of-the-art fans for laboratory and clean room applications.

Met-Pro Corporation
Consolidated Statement of Operations
(unaudited)

	Three Months Ended				Twelve Months Ended
	January 31,				January 31,
	2003		2002		2003		2002
Net sales	$18,475,723		$15,796,676		$69,619,382		$70,088,446
Cost of goods sold	12,046,628		10,472,312		45,439,557		46,060,214
Gross profit	6,429,095		5,324,364		24,179,825		24,028,232
Operating expenses
Selling	1,674,568		1,564,933		7,139,082		6,998,234
General and administrative	2,093,749		1,649,199		7,885,757		7,578,073
Income from operations	2,660,778		2,110,232		9,154,986		9,451,925
Interest expense	(126,158	)	(126,488	)	(505,394	)	(557,855	)
Other income, net	76,958		129,419		278,126		852,885
Income before taxes	2,611,578		2,113,163		8,927,718		9,746,955
Provision for taxes	797,109		771,305		3,039,339		3,557,638
Net income	$1,814,469		$1,341,858		$5,888,379		$6,189,317
Basic earnings per share	$.29		$ .22		$.95		$1.01
Diluted earnings per share	$.29		$ .22		$.95		$1.01
Average common shares outstanding:
Basic shares	6,176,168		6,111,659		6,179,618		6,109,141
Diluted shares	6,218,484		6,146,715		6,221,496		6,143,837

Condensed Consolidated Balance Sheet
(unaudited)

	January 31,
	2003	2002
Assets
Current assets	$40,631,745	$37,411,679
Property, plant and equipment, net	11,950,422	12,505,114
Costs in excess of net assets of business acquired, net	20,798,913	17,780,767
Other assets	373,591	372,632
Total assets	$73,754,671	$68,070,192
Liabilities and stockholders’ equity
Current liabilities	$9,750,309	$10,151,149
Long-term debt	7,111,995	7,125,195
Other liabilities	846,482	514,454
Total liabilities	17,708,786	17,790,798
Stockholders’ equity	56,045,885	50,279,394
Total liabilities and stockholders’ equity	$73,754,671	$68,070,192

Met-Pro Corporation
Consolidated Business Segment Data
(unaudited)

	Years Ended January 31,
	2003	2002
Net sales
Product recovery/pollution control equipment	$46,094,834	$44,498,316
Fluid handling equipment	23,524,548	25,590,130
	$69,619,382	$70,088,446
Income from operations
Product recovery/pollution control equipment	$6,039,173	$5,144,940
Fluid handling equipment	3,115,813	4,306,985
	$9,154,986	$9,451,925
Identifiable assets at January 31
Product recovery/pollution control equipment	$41,396,626	$38,945,179
Fluid handling equipment	18,417,187	18,209,157
	59,813,813	57,154,336
Corporate	13,940,858	10,915,856
	$73,754,671	$68,070,192

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release, and other materials filed or to be filed with the Securities and Exchange Commission (as well as information included in oral or other written statements made or to be made by the Company) contains statements that are forward-looking. Such statements may relate to plans for future expansion, business development activities, capital spending, financing, the effects of regulation and competition, or anticipated sales or earnings results. Such information involves risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to, the cancellation of purchase orders, product development activities, computer systems implementation, dependence on existing management, the continuation of effective cost and quality control measures, retention of customers, global economic and market conditions, and changes in federal or state laws.

Met-Pro stock is traded on the New York Stock Exchange, Symbol MPR.

To obtain an Annual Report or additional information on the Company, please call 215-723-6751 and ask for the Investor Relations Department, or visit the Company’s Web site at www.met-pro.com.

Contact:	William L. Kacin, Chairman/CEO/President
	215-723-6751, Fax: 215-723-6758
	E-mail: mpr@met-pro.com