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 22, 2010

THE GORMAN-RUPP COMPANY

(Exact name of registrant as specified in its charter)

Ohio	1-6747	34-0253990
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

600 South Airport Road, Mansfield, Ohio	44903
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (419) 755-1011

(Former name or former address, if changed since last report.)

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 22, 2010, The Gorman-Rupp Company issued a news release announcing its financial results for the first quarter ended June 30, 2010. 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 22, 2010

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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 23, 2010

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EXHIBIT INDEX

Exhibit	Page
(99) News Release dated July 22, 2010		1

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EX-99

Exhibit 99

GORMAN-RUPP REPORTS IMPROVED SECOND QUARTER 2010 RESULTS

Mansfield, Ohio — July 22, 2010 — The Gorman-Rupp Company (NYSE Amex: GRC) reports net sales and earnings for the second quarter and six months ended June 30, 2010.

Net sales during the second quarter ended June 30, 2010 increased 5.9% to $72,380,000 compared to $68,345,000 during the same period in 2009. Net income increased 16.2% to $5,656,000 compared to $4,867,000 in the second quarter 2009. Earnings per share were $0.34 and $0.29 for the two respective periods.

Net sales for the six months ended June 30, 2010 totaled $138,166,000, down 1.3% from net sales of $139,943,000 during the same period in 2009. Net income increased 8.3% to $10,153,000 compared to $9,373,000 in the first six months of 2009. Earnings per share were $0.61 and $0.56 for these two periods.

The increase in net sales during the quarter was positively impacted by the early stages of economic recovery and is due primarily to increases in sales to the international fire protection market, custom pump applications and the construction and rental market, partially offset by decreases in sales to the OEM and the domestic fire protection markets.

The increase in earnings for the quarter reflects continued cost savings implemented in 2009 which also contributed to the 16.8% increase in operating income. Changes in principal operating expenses, including LIFO and employee benefit costs, generally offset each other in the current quarter compared to the same period last year.

The Company’s backlog of orders increased to $105.0 million at June 30, 2010 compared to $82.9 million a year ago and $93.7 million at December 31, 2009. The increase from June 30, 2009 was largely due to orders arising from wastewater, rental and international fire protection applications.

Cash flow from operations during the first six months of 2010 was $16.5 million, resulting in a continuing strong liquidity position. During the quarter, the remaining $10.0 million of borrowings used to partially finance the expansion and consolidation of the Mansfield Division were re-paid. The Company remains financially strong with positive cash flow and no long-term or short-term debt.

Jeffrey S. Gorman, President and CEO said, “The Company experienced improved financial results during this quarter with earnings largely driven by solid operating performance in what is still an unpredictable environment. Customer order growth continues to be encouraging, but we still remain cautious as full economic recovery remains uncertain.”

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.

The Gorman-Rupp company designs, manufactures and sells pumps and related equipment (pumps and motor controls) for use in water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid handling applications.

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,
	2010			2009		2010			2009
Net sales	$	72,380		$	68,345	$	138,166		$	139,943
Cost of products sold		55,094			52,555		105,431			108,808
Gross profit		17,286			15,790		32,735			31,135
Selling, general and administrative expenses		8,375			8,790		17,134			17,778
Operating income		8,911			7,000		15,601			13,357
Other income (expense) — net		(400	)		202		(391	)		713
Income before income taxes		8,511			7,202		15,210			14,070
Income taxes		2,855			2,335		5,057			4,697
Net income	$	5,656		$	4,867	$	10,153		$	9,373
Basic and diluted earnings per share	$	0.34		$	0.29	$	0.61		$	0.56

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

	Unaudited
	June 30,		December 31,
	2010		2009
Assets
Cash and short-term investments	$	38,729	$	45,908
Accounts receivable — net		49,315		37,239
Inventories		37,711		40,506
Deferred income taxes and other current assets		4,538		7,747
Total current assets		130,293		131,400
Property, plant and equipment — net		108,381		108,523
Deferred income taxes and other assets		9,816		9,149
Total assets	$	248,490	$	249,072
Liabilities and shareholders’ equity
Accounts payable	$	13,669	$	8,972
Short-term debt		—		15,000
Accrued liabilities and expenses		25,766		19,203
Total current liabilities		39,435		43,175
Income taxes payable		971		971
Retirement benefits		2,768		5,044
Postretirement benefits		22,752		22,270
The Gorman-Rupp Company shareholders’ equity		181,907		176,905
Noncontrolling interest		657		707
Total shareholders’ equity		182,564		177,612
Total liabilities and shareholders’ equity	$	248,490	$	249,072
Shares outstanding		16,685,535		16,710,535

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