MFRI, Inc. (MFRI), a manufacturer of piping systems for oil and gas delivery, industrial heating and cooling devices, and industrial filtration products, reported strong second quarter financial results this morning. Revenues rose to $77.6 million, a quarterly record and an increase of 32% from $58.9 million reported a year ago. Net income set another quarterly record of $2.4 million, or 35 cents per share, an increase of 67% compared to $1.4 million, or 22 cents per share year-over-year. Backlog of unfinished orders was $189 million at quarter’s end. No analysts currently cover the stock.