8-K

UNITED STATES
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): July 23, 2009

THE GORMAN-RUPP COMPANY

(Exact Name of Registrant as Specified in its Charter)

Ohio

(State or Other Jurisdiction of Incorporation)

1-6747	34-0253990
(Commission File Number)	(I.R.S. Employee Identification No.)
305 Bowman Street, Mansfield, Ohio	44903
(Address of Principal Executive Offices)	(Zip Code)

(419) 755-1011

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

     On July 23, 2009, The Gorman-Rupp Company issued a news release announcing its financial results for the second quarter ended June 30, 2009. This news release is included as Exhibit 99 and is being furnished, not filed, with the Current Report on Form 8-K.

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS

     (d) Exhibits

Exhibit
(99)	News Release dated July 23, 2009

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SIGNATURES

     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 hereunto duly authorized.

THE GORMAN-RUPP COMPANY
By	/s/David P. Emmens
	David P. Emmens
	Corporate Counsel and Secretary

July 27, 2009

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EXHIBIT INDEX

Exhibit	Page
(99) News Release dated July 23, 2009		5

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EX-99

Exhibit 99

Page 1

GORMAN-RUPP REPORTS 2009 SECOND QUARTER EARNINGS

Mansfield, Ohio — July 23, 2009 — The Gorman-Rupp Company (NYSE Amex: GRC) reports net sales and earnings for the second quarter and six months ended June 30, 2009.

Net sales were $68,345,000 for the second quarter ended June 30, 2009, 18.7% lower than the $84,031,000 during the same period in 2008. Net income declined from $7,895,000 in the second quarter 2008 to $4,867,000 in the second quarter 2009, or 38.4%. Earnings per share decreased from $0.47 to $0.29 for the comparable periods.

Net sales for the six months ended June 30, 2009 totaled $139,943,000, down 15.4% from net sales of $165,465,000 during the same period in 2008. Net income declined 37.7% from $15,047,000 in the first six months of 2008 to $9,373,000 in the first six months of 2009. Earnings per share decreased from $0.90 to $0.56 for the comparable periods.

As in the previous two quarters, the global economic downturn continues to have a negative impact on the Company’s business compared to its record results in the first half of last year. The decline in sales for the quarter was across most of the markets the Company serves, with the largest declines in the construction and rental markets, the fire protection market and the power generation market.

The decline in earnings for the quarter principally reflects decreased operating leverage on the lower volume of operations, and increased pension and healthcare expenses of $0.10 per share. Offsetting these increased expenses was a decrease in LIFO expense of $0.08 per share, of which one-half was due to the partial liquidation of LIFO quantities during the second quarter 2009 as a result of lower sales levels.

The Company’s backlog of orders was $82.9 million at June 30, 2009 compared to $119.6 million a year ago and $107.8 million at December 31, 2008, with the largest decline in the power generation market. The continued economic uncertainty facing most companies and municipalities has caused some orders to be deferred.

The Company’s balance sheet continues to be strong through this period of reduced sales and earnings. The Company generated $27.1 million in operating cash flow during the first six months of 2009, primarily due to net income and to lower inventory and accounts receivable balances. Capital expenditures totaling $42.9 million for the previously announced consolidation of the Mansfield, Ohio facilities have been incurred as of June 30, 2009, of which $19.6 million has been incurred in 2009. During the quarter $11.2 million was borrowed under an unsecured loan agreement to partially finance this construction project which is expected to be completed by the end of 2009.

The Company regularly evaluates its cost structure to ensure that it is appropriately positioned to respond to changing market conditions. In 2008, and continuing in 2009, the Company initiated and expanded several initiatives to help adjust costs to current operating levels. During the second quarter 2009, production plans were further realigned to match current demand and additional compensation reductions were put in place for salary and hourly employees and some workforce reductions occurred at

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Exhibit 99

Page 2

locations where appropriate.

Jeffrey S. Gorman, President and CEO said, “Our operational and financial initiatives in response to the global economic weakness will allow the Company to continue to withstand the current downturn and better compete and grow when the economy recovers. We have seen less impact from Federal stimulus funding than previously anticipated due to the relatively small allocation of these funds to water, wastewater and similar infrastructure projects to date.”

Released by David P. Emmens, Corporate Secretary, Telephone (419) 755-1477.

For additional information contact Wayne L. Knabel, Chief Financial Officer, Telephone (419) 755-1397.

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Exhibit 99

Page 3

The Gorman-Rupp Company and Subsidiaries
Condensed Consolidated Statements of Income (unaudited)
(in thousands of dollars, except per share data)

	Three Months Ended June 30,				Six Months Ended June 30,
	2009		2008		2009		2008
Net sales	$	68,345	$	84,031	$	139,943	$	165,465
Cost of products sold		52,555		63,625		108,808		125,215
Gross profit		15,790		20,406		31,135		40,250
Selling, general and administrative expenses		8,790		9,356		17,778		18,855
Operating income		7,000		11,050		13,357		21,395
Other income (expense) — net		202		883		713		1,426
Income before income taxes		7,202		11,933		14,070		22,821
Income taxes		2,335		4,038		4,697		7,774
Net income	$	4,867	$	7,895	$	9,373	$	15,047
Basic and diluted earnings per share	$	0.29	$	0.47	$	0.56	$	0.90

The Gorman-Rupp Company and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands of dollars)

	Unaudited
	June 30,		December 31,
	2009		2008
Assets
Cash and short-term investments	$	42,709	$	23,793
Accounts receivable — net		41,307		48,200
Inventories		46,499		56,881
Deferred income taxes and other current assets		2,364		5,392
Total current assets		132,879		134,266
Property, plant and equipment — net		99,819		80,406
Deferred income taxes and other assets		16,802		16,866
Total assets	$	249,500	$	231,538
Liabilities and shareholders’ equity
Accounts payable	$	9,534	$	15,878
Short-term debt		16,834		—
Accrued liabilities and expenses		20,711		19,691
Total current liabilities		47,079		35,569
Deferred and other long-term income taxes		1,324		1,322
Retirement benefits		9,731		11,421
Postretirement benefits		24,639		24,020
The Gorman-Rupp Company shareholders’ equity		166,060		158,588
Noncontrolling interest		667		618
Total shareholders’ equity		166,727		159,206
Total liabilities and shareholders’ equity	$	249,500	$	231,538
Shares outstanding		16,707,535		16,707,535

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