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):   November 4, 2010



LABARGE, INC.
(Exact name of registrant as specified in its charter)

Delaware	001-05761	73-0574586
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

9900 Clayton Road
St. Louis, Missouri	63124
(Address of principal executive offices)	(Zip Code)

(314) 997-0800
(Registrant's telephone number, including area code)

N/A
(Former name and 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:

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

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

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

⃞   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 November 4, 2010, LaBarge, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal 2011 first quarter ended October 3, 2010.  A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated by reference.

The information reported under this Item 2.02 of Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Forward Looking Statements

This Current Report on Form 8-K, including Exhibit 99.1, may contain forward-looking statements that are based on management’s expectations and beliefs concerning future events impacting the Company.  Certain matters contained herein are based upon information available to management as of the date hereof.  These forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict.  As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement.  Factors that may cause such a difference include, but are not limited to, risks and uncertainties described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “Commission”), as may be updated from time to time in the Company’s subsequent filings with the Commission.  The Company undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description of Exhibit
99.1	Press release of LaBarge, Inc., dated November 4, 2010.

2

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.

Dated:	November 4, 2010
		LABARGE, INC.
		By:	/s/Donald H. Nonnenkamp
		Name:	Donald H. Nonnenkamp
		Title:	Vice President, Chief Financial Officer and Secretary

3

EX-99.1

Exhibit 99.1

LaBarge, Inc. Reports Record Sales and Earnings for Fiscal 2011 First Quarter

Bookings of New Business Grow 70 Percent from Prior-Year First Quarter and Set Company Record

Net Sales Grow 35 Percent from Prior-Year First Quarter

Net Earnings Increase 59 Percent from Prior-Year First Quarter

Management Optimistic About Fiscal 2011 Business Outlook

ST. LOUIS--(BUSINESS WIRE)--November 4, 2010--LaBarge, Inc. (NYSE Amex: LB), a provider of electronics manufacturing services (EMS), today announced that strong, broad-based customer demand helped propel the Company’s financial results to record quarterly levels in the fiscal 2011 first quarter ended October 3, 2010, which consisted of 14 weeks instead of the typical 13 weeks.

“LaBarge had an excellent first fiscal quarter with bookings, sales and earnings setting new Company records and gross margin expanding from the same period last year. Our robust first-quarter results are attributable to outstanding operational execution and continued broad-based strength in customer demand, particularly in the defense, industrial and natural resources market sectors,” said Craig LaBarge, chairman of the board, chief executive officer and president.

Fiscal 2011 first-quarter net sales grew 35 percent to a record $85,448,000, compared with $63,155,000 in the comparable period a year earlier. Fiscal 2011 first-quarter net earnings grew 59 percent to a record $4,928,000, or $0.31 per diluted share, compared with $3,103,000, or $0.19 per diluted share, in the comparable period a year earlier.

Gross margin in the fiscal 2011 first quarter increased 100 basis points to 20.4 percent, compared with 19.4 percent in the fiscal 2010 first quarter.

Selling, general and administrative (SG&A) expense was $9,401,000, or 11.0 percent of sales, in the fiscal 2011 first quarter, compared with $8,090,000, or 12.8 percent of sales, in the fiscal 2010 first quarter.

Operating income in the fiscal 2011 first quarter was $8,030,000, or 9.4 percent of sales, up 94 percent from $4,140,000, or 6.6 percent of sales, in the fiscal 2010 first quarter.

Interest expense in the fiscal 2011 first quarter was $398,000, compared with $508,000 in the fiscal 2010 first quarter, reflecting lower average debt levels in the current-year period.

Income tax expense in the fiscal 2011 first quarter was $2,710,000, compared with $505,000 in the fiscal 2010 first quarter. Income tax expense in the 2010 period was impacted favorably by a one-time positive tax adjustment of $795,000.

Net cash from operating activities in the fiscal 2011 first quarter was $3,037,000, down from $6,262,000 in the fiscal 2010 first quarter, reflecting higher inventories in the current-year period to support increased sales levels.

Total debt at October 3, 2010, was $33,335,000, down 11 percent from $37,327,000 at June 27, 2010. Stockholders’ equity at October 3, 2010, was $120,598,000, up 4 percent from $115,640,000 at June 27, 2010.

Business Overview

Shipments to customers in the defense, industrial, natural resources and medical market sectors comprised approximately 96 percent of LaBarge’s fiscal 2011 first-quarter net sales.

Shipments to defense customers represented the largest portion of fiscal 2011 first-quarter net sales at 36 percent, compared with 49 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the defense market sector were virtually unchanged from the comparable period a year earlier.

Shipments to industrial customers represented 27 percent of fiscal 2011 first-quarter net sales, versus 17 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the industrial market sector increased 106 percent from the comparable period a year earlier, due to increased shipments across a wide range of industrial customers.

Shipments to natural resources customers represented 25 percent of fiscal 2011 first-quarter net sales versus 16 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the natural resources market sector increased 114 percent from the comparable period a year earlier, largely due to much higher shipments of electronic assemblies and systems to oil-and-gas and wind power customers.

Shipments to medical customers represented 9 percent of fiscal 2011 first-quarter net sales, versus 11 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the medical sector grew 8 percent from the comparable period a year earlier. The growth in medical sales from the prior year was the result of increased shipments to several medical sector customers.

Commentary and Outlook

“Order activity in all major market sectors was very strong during the fiscal 2011 first quarter, driving bookings to a record $113,596,000, up 70 percent from the comparable period a year earlier. Orders in the defense market sector led the way with first-quarter defense bookings growing 77 percent from the same period a year earlier,” said Mr. LaBarge. Higher bookings during the current-year first fiscal quarter resulted in backlog at October 3, 2010, increasing to $226,876,000, up 14 percent from $198,727,000 at June 27, 2010, and up 32 percent from $171,712,000 at the end of the fiscal 2010 first quarter. Approximately 78 percent of backlog at October 3, 2010, was scheduled to ship in the following 12 months.

“We expect sales and earnings in the fiscal 2011 second quarter, which will be a normal 13-week quarter, to be significantly higher than in last year’s second quarter. With regard to the 2011 full fiscal year, we expect net sales of $325 million to $340 million and diluted earnings per share of $1.12 to $1.18, compared with net sales of $289.3 million and diluted earnings per share of $0.93 in the 2010 fiscal year. Based on our current pipeline of new business opportunities, we believe bookings in our major market sectors will continue at a strong pace and will drive ongoing business strength throughout the current fiscal year,” said Mr. LaBarge.

Today’s Conference Call Webcast

Today, at 11 a.m. Eastern Time, LaBarge will host a live audio webcast of its discussion with the investment community regarding financial results for the Company’s fiscal 2011 first quarter. The webcast can be accessed on the Internet through http://viavid.net/dce.aspx?sid=00007CB1 and the investor relations calendar area of http://www.labarge.com. Following the live discussion, a replay of the webcast will be available at the same locations on the Internet. Any financial or statistical information presented during the call, including any non-GAAP financial measures, the most directly comparable GAAP measures and reconciliation to GAAP results, can be accessed via the news and events area of http://www.labarge.com.

About LaBarge, Inc.

LaBarge, Inc. is a broad-based provider of electronics to technology-driven companies in diverse industrial markets. The Company provides its customers with sophisticated electronic and electromechanical products through contract design and manufacturing services. Headquartered in St. Louis, LaBarge has operations in Arkansas, Missouri, Oklahoma, Pennsylvania, Texas and Wisconsin. The Company’s Web site address is http://www.labarge.com.

LaBarge, Inc.
Consolidated Statements of Income
(Unaudited)
(amounts in thousands, except per-share amounts)
		Three Months Ended
		October 3, 2010				September 27, 2009
Net sales			$	85,448		$	63,155
	Cost of sales			68,017			50,925
Gross profit				17,431			12,230
	Selling and administrative expense			9,401			8,090
Operating income				8,030			4,140
	Interest expense			398			508
	Other (income) expense, net			(6	)		24
Earnings before income taxes				7,638			3,608
	Income tax expense			2,710			505
Net earnings			$	4,928		$	3,103
Basic net earnings per common share			$	0.31		$	0.20
Average basic common shares outstanding				15,685			15,743
Diluted net earnings per common share			$	0.31		$	0.19
Average diluted common shares outstanding				15,898			16,048

LaBarge, Inc.
Consolidated Balance Sheets
(Unaudited)
(amounts in thousands, except share and per-share amounts)
			October 3, 2010			June 27, 2010
ASSETS
Current assets:
	Cash and cash equivalents		$	235		$	2,301
	Accounts and other receivables, net			45,039		46,807
	Inventories			72,103		64,536
	Prepaid expenses			1,538		1,062
	Deferred tax assets, net			3,805		3,655
		Total current assets		122,720		118,361
Property, plant and equipment, net of accumulated depreciation of $37,191 at October 3, 2010, and $35,704 at June 27, 2010				27,552		28,536
Intangible assets, net				8,540		9,076
Goodwill				43,424		43,424
Other assets				5,199		5,125
		Total assets	$	207,435		$	204,522
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
	Short-term borrowings		$	550		$	---
	Current maturities of long-term debt			10,231			12,069
	Trade accounts payable			27,834		26,538
	Accrued employee compensation			12,168		14,625
	Other accrued liabilities			6,148		3,712
	Cash advances from customers			3,423		2,921
		Total current liabilities		60,354		59,865
Long-term advances from customers for purchase of materials				308		46
Deferred tax liabilities, net				2,494		2,494
Deferred gain on sale of real estate and other liabilities				1,127		1,219
Long-term debt				22,554		25,258
Stockholders’ equity:
	Common stock, $0.01 par value. Authorized 40,000,000 shares; 15,958,839 issued at both October 3, 2010, and June 27, 2010, including shares in treasury			160		160
	Additional paid-in capital			13,799		14,582
	Retained earnings			108,755		103,827
	Accumulated other comprehensive loss		(250		)	(222		)
	Less cost of common stock in treasury shares of 160,008 at October 3, 2010, and 234,651 at June 27, 2010		(1,866		)	(2,707		)
		Total stockholders’ equity		120,598		115,640
		Total liabilities and stockholders’ equity	$	207,435		$	204,522

LaBarge, Inc.
Consolidated Statements of Cash Flows
(Unaudited)
(amounts in thousands)
			Three Months Ended
			October 3, 2010			September 27, 2009
Cash flows from operating activities:
	Net earnings		$	4,928		$	3,103
		Adjustments to reconcile net cash provided by operating activities:
		Loss on disposal of property, plant and equipment		---		14
		Depreciation and amortization		2,168		2,238
		Amortization of deferred gain on sale of real estate		(120	)	(120		)
		Share-based compensation		376		308
		Deferred taxes		(148	)	(78		)
	Changes in operating assets and liabilities:
		Accounts and other receivables, net		1,768		(478		)
		Inventories		(7,567	)	(660		)
		Prepaid expenses		(476	)	(167		)
		Trade accounts payable		1,132		2,563
		Accrued liabilities		212		1,422
		Cash advances from customers		764		(1,883		)
Net cash provided by operating activities				3,037		6,262
Cash flows from investing activities:
	Additions to property, plant and equipment			(401	)	(1,922		)
	Proceeds from disposal of property, equipment and other assets			4		13
	Additions to other assets			(161	)	(287		)
Net cash used by investing activities				(558	)	(2,196		)
Cash flows from financing activities:
	Borrowings on revolving credit facility			9,075		---
	Payments of revolving credit facility			(8,525	)	---
	Repayments of long-term debt			(4,542	)	(40		)
	Excess tax benefits from stock option exercises			---		387
	Remittance of minimum taxes withheld as part of a net share settlement of stock option exercises			(562	)	(841		)
	Issuance of treasury stock			9		63
	Purchase of treasury stock			---		(140		)
Net cash used by financing activities				(4,545	)	(571		)
Net (decrease) increase in cash and cash equivalents				(2,066	)	3,495
Cash and cash equivalents at beginning of period				2,301		4,297
Cash and cash equivalents at end of period			$	235		$	7,792

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect LaBarge, Inc.'s operating results. These risks and factors are set forth in documents LaBarge, Inc. files with the Securities and Exchange Commission, specifically in the Company's most recent Annual Report on Form 10-K and other reports it files from time to time. These forward-looking statements speak only as of the date such statements were made, or as of the date of the report or document in which they are contained, and the Company undertakes no obligation to update such information.

CONTACT:
LaBarge, Inc.
Colleen Clements, 314-997-0800, ext. 409
colleen.clements@labarge.com