Met-Pro Corp posted third-quarter results that missed market estimates, but said new orders were up sequentially.
The company said new orders were up 31 percent from the second quarter led by an improvement in large project bookings within its product recovery/pollution control technologies segment.
For the third quarter, net income was $1.0 million, or 7 cents a share, compared with $3.0 million, or 20 cents a share, a year ago.
Sales of the company, which makes product recovery and pollution control equipment, fell 29 percent to $19.8 million.
Analysts on average were expecting earnings of 12 cents a share, before special items, on revenue of $22.6 million, according to Thomson Reuters I/B/E/S.
Results in the quarter reflect the lagging effect on both net sales and earnings from the slowdown in global economic activity that began last year, Chief Executive Raymond De Hont said in a statement.
Shares of the company were up 6 cents to $9.40 on the New York Stock Exchange.
(Reporting by Divya Sharma in Bangalore; Editing by Ratul Ray Chaudhuri)