LDSH Ladish Co., Inc. (MM)

Ladish Co., Inc. (www.ladishco.com) (NASDAQ: LDSH) today reported 2010 third quarter sales of $100.3 million in comparison to $76.2 million of sales in the third quarter of 2009. The Company reported net income of $6.2 million, resulting in diluted earnings per share of $0.40 for the third quarter of 2010, versus a loss of $(2.2) million, or $(0.14) per share, in the same period of 2009.

Ladish will host a conference call on Wednesday, October 27, 2010 at 9:00 a.m. EDT to discuss the third quarter performance for 2010. To access the conference call, dial (866) 551-3680 and enter the PIN Code 3014395# when prompted.

                           For the Three Months       For the Nine Months
                            Ended September 30        Ended September 30
                         ------------------------  ------------------------
(Dollars in thousands,
 except per share data)      2010         2009         2010         2009
                         -----------  -----------  -----------  -----------
Net sales                $   100,280  $    76,191  $   298,635  $   266,616
Cost of goods sold            84,018       71,469      252,012      248,233
                         -----------  -----------  -----------  -----------
Gross profit                  16,262        4,722       46,623       18,383
SG&A expense                   4,529        5,692       12,761       14,007
                         -----------  -----------  -----------  -----------
Operating income              11,733         (970)      33,862        4,376
Interest expense              (1,363)      (1,428)      (4,257)      (3,594)
Other, net                      (300)        (632)         354         (965)
                         -----------  -----------  -----------  -----------
Pretax income (loss)          10,070       (3,030)      29,959         (183)
Income tax provision
 (benefit)                     3,855         (780)      10,833          228
Noncontrolling interest
 in subsidiary earnings
 (loss)                           (3)         (41)          22          (52)
                         -----------  -----------  -----------  -----------
Net income (loss)        $     6,218  $    (2,209) $    19,104  $      (359)
                         ===========  ===========  ===========  ===========

Basic earnings (loss) per
 share                   $      0.40  $     (0.14) $      1.21  $     (0.02)
Basic weighted average
 shares outstanding       15,703,799   15,901,877   15,754,554   15,901,439
Diluted earnings (loss)
 per share               $      0.40  $     (0.14) $      1.21  $     (0.02)
Diluted weighted average
 shares outstanding       15,704,935   15,901,877   15,755,826   15,901,439


                                                  September 30  December 31
(Dollars in thousands)                                2010          2009
                                                 ------------- -------------
Cash and cash equivalents                        $      26,774 $      19,917
Accounts receivable, net                                77,322        59,382
Inventory                                              100,852        92,697
Net PP&E                                               195,425       198,436
Other                                                   90,053        99,082
                                                 ------------- -------------
Total assets                                     $     490,426 $     469,514

                                                 ---------------------------

Accounts payable                                 $      33,130 $      23,613
Accrued liabilities                                     22,113        16,758
Senior notes                                            84,285        90,000
Pensions                                                76,392        79,343
Postretirement benefits                                 32,875        33,679
Equity                                                 241,631       226,121
                                                 ------------- -------------
Total liabilities & equity                       $     490,426 $     469,514

"Ladish produced strong third quarter sales and earnings, consistent with the pattern we set in the first half of 2010," said Gary J. Vroman, Ladish President & CEO. "We are especially pleased that all of our business units are performing well, outpacing both last year and our expectations for this year. This $0.40 of EPS in the third quarter is right in line with our expectations, and the $1.21 of EPS for the first nine months confirms our business is solid. Now we're poised for growth. We continue to generate positive cash flow while requirements expand, and our balance sheet is robust. Our employees have stepped up impressively over the past 18 months, and these financial results are an indication of our Company's true potential."

"Our view of the next 90 days is unchanged from before. We expect relatively stable fourth quarter demand as we prepare for the anticipated rise in business next year. Every product group -- forgings, castings, and machining -- has new opportunities lined up in 2011 which will drive growth. Contract backlog has risen every month this year, to its present $537 million level at the end of September. We look forward to 2011, and we are ready to go."

Ladish Co., Inc. is a leading producer of highly engineered, technically advanced metal components for the jet engine, aerospace and general industrial markets. Ladish is headquartered in Cudahy, Wisconsin with operations in Wisconsin, California, Connecticut, Oregon and Poland. Ladish common stock trades on Nasdaq under the symbol LDSH.

This release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in them. These risks and uncertainties include, but are not limited to, uncertainties in the company's major markets, the impact of competition, the effectiveness of operational changes expected to increase efficiency and productivity, worldwide economic and political conditions and the effect of foreign currency fluctuations.

Ladish Co., Inc. 5481 South Packard Avenue Cudahy, WI 53110 Contact: Wayne E. Larsen 414-747-2935 Email Contact Libby Communications 1414 East Harbour Towne Circle Muskegon, MI 49441 Contact: William J. Libby 231-755-4111 Email Contact