This presentation includes forward-looking statements which
reflect the Company’s current views with respect to future
events and financial performance, but involve uncertainties
that could significantly impact results. The Private Securities
Litigation Reform Act of 1995 provides a “safe harbor” for
such forward-looking statements.
reflect the Company’s current views with respect to future
events and financial performance, but involve uncertainties
that could significantly impact results. The Private Securities
Litigation Reform Act of 1995 provides a “safe harbor” for
such forward-looking statements.
• Leading niche-oriented global provider of solutions and
products for product recovery, pollution control, and fluid
handling applications
products for product recovery, pollution control, and fluid
handling applications
• Diverse, synergistic product offering
• Strong global brand recognition
• Approximately 40% of sales derived from recurring parts
and consumables sales
and consumables sales
Met-Pro: Protecting our environment while serving
business and industry around the world
NYSE: MPR
business and industry around the world
NYSE: MPR
Company Profile
Investment Highlights
• Green technology
• Strong balance sheet
– High cash
– Low debt
• Strong cash flows from operating activities
• High margin business
• Outsourcing minimizes growth constraints and reduces risks
during down turns
during down turns
• Experienced Management/Independent Board of Directors
• Dividend paid for 34 consecutive years
Continuous Improvement
• Rolled out lean manufacturing program
• Improved manufacturing flexibility
• Efficiency improvements and lower costs realized
through:
through:
– Facility/organization consolidations
– Global sourcing
– More effective logistics
• Increased global sales coverage
Product Recovery/
Pollution Control
Pollution Control
48.3%
Filtration/
Purification
Purification
11.5%
Fluid Handling
29.4%
Mefiag
Filtration
Filtration
10.8%
2009 Sales
$103.4 million
Businesses
• Expanding
International
Sales/Marketing
Organization to
capitalize on global
opportunities
International
Sales/Marketing
Organization to
capitalize on global
opportunities
FY 2009
$26.5 Million
25.7%
International
Sales
Sales
74.3%
U.S. Sales
Europe
35.7%
Asia
19.5%
Canada
17.1%
Africa &
Middle East
Middle East
15.5%
Other
12.2%
International
§ Over 8,000 active customers
- Well-diversified cross-section
of industries including
Fortune 1000 companies
of industries including
Fortune 1000 companies
§ Major markets include:
- Pharmaceutical
- Chemical/petrochemical
- Food processing
- Metal finishing
- Saltwater aquariums
- Refinery
- Semiconductor/electronics
- Municipalities
- Universities
- Hospitals/public health
- Government facilities
No One Customer Accounts for More
Than 10% of Met-Pro’s Business
Than 10% of Met-Pro’s Business
Customers & Major Markets
Mefiag Filter System
Flex-Kleen Pulse-Jet
Cartridge Dust
Collector
Cartridge Dust
Collector
Fybroc FRP Pumps
Strobic Air Patented
Tri-Stack™ Fan
Tri-Stack™ Fan
Dean
Metallic Pumps
Metallic Pumps
Sethco
Thermoplastic
Pumps
Thermoplastic
Pumps
Keystone
Custom Filter
Cartridges
Cartridges
Duall AroBIOS™ Bioscrubber
Pristine Water
Treatment
Chemicals
Treatment
Chemicals
Products from Single Units…
Dean High
Temperature Pumps
Temperature Pumps
Fybroc FRP Pumps
Mefiag Filter Systems
Flex-Kleen
Dust Collectors
Dust Collectors
Systems Rotary
Concentrator and
Recuperative
Concentrator and
Recuperative
Thermal Oxidizer
Strobic Air Patented
Tri-Stack™ Fans
Tri-Stack™ Fans
…to Large, Complex Systems
Growth Drivers
• Global growth of “green”
manufacturing processes
manufacturing processes
– Reduce costs
– Reduce energy
– Improve manufacturing performance
– Meet increasing
regulatory requirements
regulatory requirements
• Focus on niche markets
– #1 or #2 player
– Limited competition
– International brand recognition
• MRO, upgrade and retro-fit opportunities
from expanding installed base
from expanding installed base
• New markets
– Geographic expansion
– New product introductions
– Acquisitions and/or
technology licensing
technology licensing
New Products
• Launched the Smart System™ energy-saving
laboratory exhaust system
laboratory exhaust system
• Field tested an advanced control system to reduce
scrubber chemical consumption
scrubber chemical consumption
• Upgraded our Bio-Pro™ biological scrubber
product line
product line
• Introduced nano-technology filtration products
• Completed development of the world’s most
extensive line of mag-drive “All-FRP” pumps
extensive line of mag-drive “All-FRP” pumps
Strategy
• Capitalize on global niche-oriented growth
opportunities through:
opportunities through:
– Strong customer focus
– Geographic expansion
– New product introductions
– Accretive acquisitions and/or technology licensing
Margin Improvement Strategy
• Continue to expand margins through:
– Pricing power
– Single source solutions
– Global sourcing
– Volume discounts
– Consolidation
– Leveraged operating expenses
– Improved project execution
– Lean manufacturing/continuous improvement
For FYE 1/31
(1) Excludes $2.2 million (net of tax) from the sale of real estate in FYE 2008
(2) Excludes $0.15 per share from the sale of real estate in FYE 2008
2008
2009
83.2
78.8
Total Shareholders’ Equity
6.1
4.5
Total Debt
.63
.65
Earnings Per Share, Diluted
9.7
9.9
Net Income
$106.9
$103.4
Net Sales
(1)
(2)
.21
.23
Cash Dividend Paid Per Share
0.6
7.7
Share Repurchases
Millions ($)
9.9
12.1
Cash Flow from Operating Activities
Financial Highlights
For FYE 1/31
Net Sales
(a) Excludes 3.3% from the sale of real estate in FYE 2008
13.2%
(a)
Operating Margins
(a) Excludes $0.15 per share from the sale of real estate in FYE 2008
Diluted EPS
$4.4
$3.9
$9.9
$12.1
Cash Flow from Operating Activities
Ended 4/30
(a) Includes pension, healthcare and stock option expenses in the first quarter ended April 30,
2009 and proceeds received from a legal settlement in the first quarter ended April 30, 2008.
On an aggregate basis, these various items amount to $0.04 per share.
2009 and proceeds received from a legal settlement in the first quarter ended April 30, 2008.
On an aggregate basis, these various items amount to $0.04 per share.
Net Income
33.5%
Gross Margins
Net Sales
$ 1.9
Millions ($)
Diluted EPS
2009
$ 1.0
35.7%
$19.6
$0.13
$0.07
(a)
First Quarter - FYE 2010
$1.81
per share
per share
Total Debt
Total Assets
Shareholders Equity
Cash
4.9
104.4
79.2
26.4
Millions ($)
4/30/09
$
$
$
$
Debt to Equity
Ratio = 6.2%
Ratio = 6.2%
Strong Financial Condition
34 Straight Years of Dividends
For FYE 1/31
• A 9.1% increase over the prior year second quarter dividend
• Dividends have been increased for 7 consecutive years
• Second quarter dividend of $0.06 per share paid on June 12, 2009
•
Over the long-term, we are confident
that Met-Pro Corporation is well positioned
to capitalize on the very powerful
trends toward global environmental
stewardship, energy efficiency,
and process improvement
that Met-Pro Corporation is well positioned
to capitalize on the very powerful
trends toward global environmental
stewardship, energy efficiency,
and process improvement
Summary