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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 11-K
 ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission file number: 1-6747
 THE GORMAN-RUPP COMPANY 401(k) PLAN
  The Gorman-Rupp Company
    
    600 South Airport Road
    
    Mansfield, Ohio 44903(Name of issuer of the securities held pursuant to the plan and the address of its principal executive office)




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REQUIRED INFORMATION
  Financial Statements and Exhibits
 A)
    
    The following financial statements and schedules (including the report of Ernst & Young LLP) are
filed as part of this annual report:
 1)
    
    Statements of Net Assets
Available for Benefits- December 31, 2010 and 20092)
    
    Statement of Changes in Net
Assets Available for Benefits-Year ended December 31, 20103)
    
    Schedule of Assets (Held at End of Year)
 B)
    
    The following exhibit is filed as part of this annual report:
 (23)
    
    Consent of Independent Registered Public Accounting Firm




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Audited Financial Statements and  Supplemental Schedules




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##### 



Contents
 Report of Independent
Registered Public Accounting Firm
    
    
    1Audited Financial StatementsStatements of Net Assets Available for Benefits
    
    
    2Statement of Changes in Net Assets Available for Benefits
    
    
    3Notes to Financial Statements
    
    
    4Supplemental SchedulesSchedule H, Line 4i  Schedule of Assets (Held at End of Year)
    
    
    14Exhibit 23




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June 29, 2011
    
    /s/ Ernst & Young LLPCleveland, Ohio
  1




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December 312010
    
    
    2009AssetsInvestments
    
    $
    42,660,638
    
    
    $
    36,957,722Receivables:Notes receivable from participants
    
    
    1,070,092
    
    
    
    997,116Net assets available for benefits, at fair value
    
    
    43,730,730
    
    
    
    37,954,838Adjustment from fair value to contract value for fully
benefit-responsive investment contract
    
    
    63,744
    
    
    
    209,855Net assets available for benefits
    
    $
    43,794,474
    
    
    $
    38,164,693
 See accompanying notes.
  2




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AdditionsInvestment income:Net appreciation in fair value of investments
    
    $
    4,526,460Interest and dividends
    
    
    660,1145,186,574Interest income on notes receivable from participants
    
    
    43,440ContributionsParticipants
    
    
    2,459,595Employer
    
    
    699,010Rollovers
    
    
    58,962Total contributions
    
    
    3,217,567Total additions
    
    
    8,447,581DeductionsBenefits paid to participants
    
    
    2,817,800Net increase
    
    
    5,629,781Net assets available for benefits:Beginning of year
    
    
    38,164,693End of year
    
    $
    43,794,474
 See accompanying notes.
 
  3




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1. Description of the Plan
  General
  Contributions
   Participant Accounts
   4




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1. Description of the Plan (continued)
 Vesting
  Forfeitures
  Participant Loans
 The Wall Street
Journal
 Payment of Benefits
  Plan Termination
   5




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2. Summary of Significant Accounting Policies
 New Accounting Pronouncements
 Improving Disclosures about
Fair Value Measurements
 Reporting Loans to
Participants by Defined Contribution Pension Plans,
 Amendments to Achieve Common Fair
Value Measurements and Disclosure Requirements in U.S. GAAP and IFRSs Fair Value Measurements and Disclosures
  6




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##### Table of Contents



2. Summary of Significant Accounting Policies (continued)
 Basis of Accounting
  Notes Receivable from Participants
  Investment Valuation and Income Recognition
  Fair Value Measurements and Disclosures
 
    
    Level 1  Fair value is based on unadjusted quoted prices for identical assets or
liabilities in an active market that the Plan has the ability to access at the measurement
date.
  7




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2. Summary of Significant Accounting Policies (continued)
 
    
    Level 2  Fair value is based on quoted prices in markets that are not active, quoted
prices for similar assets and liabilities in active markets, and inputs that are observable
for the asset or liability, either directly or indirectly, for substantially the full term
of the asset or liability. Level 2 inputs include the following:
 
    
    Quoted prices for similar assets or liabilities in active markets
    
    Quoted prices for identical or similar assets or liabilities in inactive markets
    
    Observable inputs other than quoted prices that are used in the valuation of
the asset or liabilities (e.g., interest rate and yield curve quotes at commonly quoted
intervals)
    
    Inputs that are derived from corroborated by observable market data by
correlation or other means
 
    
    Level 3  Fair value is based on prices or valuation techniques that require inputs
that are both significant to the fair value measurement and unobservable. These inputs
reflect managements judgment about the assumptions that a market participant would use in
pricing the investment and are based on the best available information, some of which may
be internally developed.
    8




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2. Summary of Significant Accounting Policies (continued)
 .
   Use of Estimates
  3. Investments
  NetAppreciationin FairValue ofInvestmentsCommon stock
    
    $
    2,132,782Shares of registered investment companies
    
    
    2,247,567Pooled separate account
    
    
    146,111$
    4,526,460
  9




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3. Investments (continued)
  2010
    
    
    2009The Gorman-Rupp Company common stock
    
    $
    14,163,419
    
    
    $
    12,825,502The Gorman-Rupp Stable Value Fund
    
    
    5,527,793
    
    
    
    4,162,128
 4. Fair Value Measurement
     10




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4. Fair Value Measurement (continued)
  Assets at Fair Value as of December 31, 2010Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalThe Gorman-Rupp Company common stock
    
    $
    14,163,419
    
    
    $
    
    
    
    $
    
    
    
    $
    14,163,419Mutual Funds:U.S. equities
    
    
    13,692,774
    
    
    
    
    
    
    
    
    
    
    
    13,692,774International equities
    
    
    2,899,016
    
    
    
    
    
    
    
    
    
    
    
    2,899,016Fixed Income
    
    
    6,223,375
    
    
    
    
    
    
    
    
    
    
    
    6,223,375Money Market Fund
    
    
    154,261
    
    
    
    
    
    
    
    
    
    
    
    154,261Pooled Separate Account (1)
    
    
    
    
    
    
    5,527,793
    
    
    
    
    
    
    
    5,527,793Total assets at fair value
    
    $
    37,132,845
    
    
    $
    5,527,793
    
    
    $
    
    
    
    $
    42,660,638
 Assets at Fair Value as of December 31, 2009Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalThe Gorman-Rupp Company common stock
    
    $
    12,825,502
    
    
    $
    
    
    
    $
    
    
    
    $
    12,825,502Mutual Funds:U.S. equities
    
    
    12,017,039
    
    
    
    
    
    
    
    
    
    
    
    12,017,039International equities
    
    
    2,566,218
    
    
    
    
    
    
    
    
    
    
    
    2,566,218Fixed Income
    
    
    5,384,660
    
    
    
    
    
    
    
    
    
    
    
    5,384,660Money market fund
    
    
    2,175
    
    
    
    
    
    
    
    
    
    
    
    2,175Pooled Separate Account (1)
    
    
    
    
    
    
    4,162,128
    
    
    
    
    
    
    
    4,162,128Total assets at fair value
    
    $
    32,795,594
    
    
    $
    4,162,128
    
    
    $
    
    
    
    $
    36,957,722
 (1)
    
    These pooled funds seek a high level of income, primarily investing in
fixed-income investments.  11




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5. Administrative Costs
  6. Concentration of Credit Risk
   7. Income Tax Status
    12




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8. Reconciliation of Financial Statements to the Form 5500
  December 312010
    
    
    2009Net assets available for benefits per the
financial statements
    
    $
    43,794,474
    
    
    $
    38,164,693Adjustments from fair value to contract value for
fully benefit-responsive investment contract
    
    
    (63,744
    )
    
    
    (209,855
    )Net assets available for benefits per Form 5500
    
    $
    43,730,730
    
    
    $
    37,954,838
  December 31,2010Net investment gain from investments as reported
in the financial statements
    
    $
    5,230,014Adjustments from fair value to contract value for
fully benefit-responsive investment contract
    
    
    146,111Net gain from investments per Form 5500
    
    $
    5,376,125
  13




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Description ofInvestment IncludingMaturity Date, RateIdentity of Issuer, Borrower,
    
    of Interest, Par,
    
    
    CurrentLessor, or Similar Party
    
    or Maturity Value
    
    
    ValueThe Gorman-Rupp Company Common Stock*
    
    438,224.586      shares
    
    $
    14,163,419American Cap Income Builder R4
    
    1,495.709      shares
    
    
    74,651American Cap World Bond R3
    
    27,868.837      shares
    
    
    568,246American EuroPacific Growth R3
    
    22,377.713      shares
    
    
    909,206American Wash Mutual Inv Fd R3
    
    35,295.778      shares
    
    
    955,104Columbia Small Cap Val Fund A
    
    10,755.048      shares
    
    
    481,504Davis New York Venture Fund A
    
    20,003.101      shares
    
    
    686,906Fid Advisor Diversified Intl A
    
    36,152.875      shares
    
    
    579,892Fid Advisor Inflat Prot Bond A
    
    110,181.367      shares
    
    
    1,277,002Fid Advisor Intl Sm Cap Opp A
    
    26,340.070      shares
    
    
    271,566Fid Advisor Leveraged Co Stk A
    
    23,714.821      shares
    
    
    816,027Fid Advisor New Insights A
    
    33,488.272      shares
    
    
    668,426Fid Advisor Real Estate Fund A
    
    15,140.117      shares
    
    
    248,298Fid Advisor Small Cap Fund A
    
    36,218.624      shares
    
    
    913,072Fid Advisor Value Strategies A
    
    14,884.061      shares
    
    
    372,102Franklin Income Fund A
    
    855,023.049      shares
    
    
    1,863,950Franklin Mutual Shares Class A
    
    36,778.285      shares
    
    
    759,104Lord Abbett Affiliated Fund A
    
    6,476.440      shares
    
    
    74,997Lord Abbett Mid Cap Value A
    
    26,982.494      shares
    
    
    443,592Lord Abbett Small Cap Blend A
    
    26,684.971      shares
    
    
    404,811MainStay High Yield Corp Bond A
    
    69,000.483      shares
    
    
    406,413Mainstay Money Market Fund A
    
    154,261.880      shares
    
    
    154,261The Gorman-Rupp Stable Value Fund
    
    
    
    
    
    
    5,527,793Oppenheimer Global Fund A
    
    9,177.925      shares
    
    
    554,071Oppenheimer Value Fund A
    
    63,796.751      shares
    
    
    1,392,683PIMCO Low Duration Fund (Adm)
    
    2,228.330      shares
    
    
    23,152PIMCO Total Return Fund A
    
    93,730.112      shares
    
    
    1,016,972Royce Value Fund (Serv)
    
    33,587.833      shares
    
    
    424,886RS Partners Fund A
    
    11,679.663      shares
    
    
    386,480T Rowe Price Capital Apprec Fund
    
    14,295.885      shares
    
    
    290,349
  14




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Description ofInvestment IncludingMaturity Date, RateIdentity of Issuer, Borrower,
    
    of Interest, Par,
    
    
    CurrentLessor, or Similar Party
    
    or Maturity Value
    
    
    ValueT Rowe Price Inflation Prot Bond
    
    10,325.113      shares
    
    
    123,695T Rowe Price New Era Fund
    
    10,814.931      shares
    
    
    564,107Templeton Foreign Fund
    
    76,327.312      shares
    
    
    532,765Templeton Global Bond Fund Adv
    
    13,631.316      shares
    
    
    184,841BlackRock LifePath Retire Inst
    
    67,749.344      shares
    
    
    782,505BlackRock LifePath 2020 Inst
    
    123,028.783      shares
    
    
    1,958,618BlackRock LifePath 2030 Inst
    
    71,574.846      shares
    
    
    1,047,140BlackRock LifePath 2040 Inst
    
    36,191.481      shares
    
    
    643,485BlackRock LifePath 2050 Inst
    
    94.157      shares
    
    
    1,750Invesco Gold & Precious Metals
    
    5,674.140      shares
    
    
    61,281Eaton Vance Greater India A
    
    126.173      shares
    
    
    3,559Templeton China World Fund A
    
    1,203.733      shares
    
    
    47,957Loans to participants*
    
    At interest rates ranging from 3.25% to 8.25% with maturity dates through 2016
    
    
    1,070,092$
    43,730,730
 *
    
    Indicates party in interest to the Plan.  15




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SIGNATURES
 The Plan.
 THE GORMAN-RUPP COMPANY 401(k) PLANBy:
    The Gorman-Rupp Company, as Plan AdministratorDate:  June 29, 2011
    By:
    /s/ Jeffrey S. GormanJeffrey S. Gorman, Committee MemberDate:  June 29, 2011
    By:
    /s/ Wayne L. KnabelWayne L. Knabel, Committee MemberDate:  June 29, 2011
    By:
    /s/ David P. EmmensDavid P. Emmens, Committee MemberDate:  June 29, 2011
    By:
    /s/ Lee A. WilkinsLee A. Wilkins, Committee MemberDate:  June 29, 2011
    By:
    /s/ Ronald D. PittengerRonald D. Pittenger, Committee Member  16




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EXHIBIT INDEX
 Exhibit
    
    
    
    Pagination by SequentialNumber
    
    Description
    
    Numbering System23
    
    
    Consent of Independent Registered
Public Accounting Firm
    
    
    17
  17