<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

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

                                   FORM 10-Q



         [X]  Quarterly Report Pursuant to Section 13 or 15(d) of the 
              Securities Exchange Act of 1934

         [ ]  Transition Report Pursuant to Section 13 or 15(d) of the 
              Securities Exchange Act of 1934



For Quarter Ended April 3, 1999                     Commission File No. 0-12640
-------------------------------                     ---------------------------


                               KAYDON CORPORATION


       A Delaware Corporation              IRS Employer ID No. 13-3186040
       ----------------------              ------------------------------

         315 E. Eisenhower Pkwy., Suite 300, Ann Arbor, Michigan 48108
         -------------------------------------------------------------

                              Phone: 734-747-7025
                              -------------------

Kaydon Corporation:

         (1)  has filed all reports required to be filed by Section 13 or 15(d)
              of the Securities Exchange Act of 1934 during the preceding 12
              months.
                                  Yes X     No   
                                     ---      ---
         (2)  has been subject to such filing requirements for the past 90
              days.
                                  Yes X     No   
                                     ---      ---

Common Stock Outstanding at May 13, 1999 - 31,858,097 shares, $0.10 par value.




<PAGE>   2

                          KAYDON CORPORATION FORM 10-Q

                      FOR THE QUARTER ENDED APRIL 3, 1999


                                     INDEX
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                       Page No.
                                                                       --------
<S>      <C>                                                           <C>
Part I - Financial Information:

         Consolidated Condensed Balance Sheets -
         April 3, 1999 and December 31, 1998                              1

         Consolidated Condensed Statements of Income -
         Quarters Ended April 3, 1999 and April 4, 1998                   2

         Consolidated Condensed Statements of Cash Flows -
         Quarters Ended April 3, 1999 and April 4, 1998                   3

         Notes to Consolidated Condensed Financial Statements           4 - 9

         Management's Discussion and Analysis of
         Financial Condition and Results of Operations                 10 - 12



Part II - Other Information:

          Item 4. - Submission of Matters to a Vote of 
                    Security Holders                                     13

          Item 5. - Other Information                                    13

          Item 6. - Exhibits and Reports on Form 8-K                     14


          Signatures                                                     15

</TABLE>




<PAGE>   3

                               KAYDON CORPORATION

                     CONSOLIDATED CONDENSED BALANCE SHEETS
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                   April 3, 1999         December 31, 1998
                                                   -------------         -----------------
                                                    (Unaudited)
<S>                                                <C>                   <C>
Assets:
Cash and cash equivalents                           $100,302,000           $ 96,203,000
Accounts receivable, net                              50,321,000             48,957,000
Inventories, net                                      69,910,000             68,176,000
Other current assets                                  16,317,000             16,464,000
                                                    ------------           ------------

Total current assets                                 236,850,000            229,800,000

Plant and equipment, net                              98,127,000             99,259,000
Cost in excess of net tangible
  assets of purchased businesses, net                 63,489,000             64,717,000
Other assets                                          19,820,000             20,032,000
                                                    ------------           ------------

Total assets                                        $418,286,000           $413,808,000
                                                    ============           ============



Liabilities and Shareholders' Equity:
Accounts payable                                    $ 12,100,000           $ 14,853,000
Accrued expenses                                      51,773,000             54,312,000
Federal income tax payable                             8,894,000              2,035,000
                                                    ------------           ------------

Total current liabilities                             72,767,000             71,200,000

Long-term liabilities                                 31,320,000             30,952,000

Shareholders' equity
Common stock                                           3,648,000              3,646,000
Paid-in capital                                       36,306,000             35,969,000
Retained earnings                                    368,141,000            355,233,000
Less - treasury stock, at cost                       (90,492,000)           (80,711,000)
Accumulated other comprehensive loss                  (3,404,000)            (2,481,000)
                                                    ------------           ------------

                                                     314,199,000            311,656,000
                                                    ------------           ------------
Total liabilities and
    shareholders' equity                            $418,286,000           $413,808,000
                                                    ============           ============

</TABLE>


See accompanying notes to consolidated condensed financial statements.




                                       1
<PAGE>   4


                               KAYDON CORPORATION
                  CONSOLIDATED CONDENSED STATEMENTS OF INCOME
                                  (UNAUDITED)
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>

                                                                 QUARTER ENDED         
                                                                                     
                                                     April 3, 1999          April 4, 1998
                                                     -------------          -------------
<S>                                                  <C>                    <C>        

Net sales                                             $88,120,000            $99,109,000

Gross profit                                           34,456,000             40,468,000

Operating income                                       24,748,000             28,260,000

Net interest income                                     1,050,000              1,249,000
                                                      -----------            -----------

Income before income taxes                             25,798,000             29,509,000

Provision for income taxes                              9,674,000             11,214,000
                                                      -----------            -----------

Net income                                            $16,124,000            $18,295,000
                                                      ===========            ===========
Weighted average common shares outstanding:
  Basic                                                32,001,000             33,006,000
                                                      ===========            ===========
  Diluted                                              32,209,000             33,265,000
                                                      ===========            ===========

Earnings per share:
  Basic                                                     $0.50                  $0.55
                                                            =====                  =====
  Diluted                                                   $0.50                  $0.55
                                                            =====                  =====

</TABLE>



See accompanying notes to consolidated condensed financial statements.





                                       2

<PAGE>   5

                               KAYDON CORPORATION

                CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)
-------------------------------------------------------------------------------


<TABLE>
<CAPTION>

                                                                     QUARTER ENDED
                                                                     -------------
                                                         April 3, 1999          April 4, 1998
                                                         -------------          -------------
<S>                                                      <C>                    <C>          

Cash flows from operating activities                      $ 19,343,000           $ 18,944,000
                                                          ------------           ------------

Cash flows from investing activities:
 Purchases of marketable securities                                  0            (19,920,000)
 Capital expenditures, net                                  (2,571,000)           (10,867,000)
 Other                                                               0                 11,000
                                                          ------------           ------------

 Cash used in investing activities                          (2,571,000)           (30,776,000)
                                                          ------------           ------------

Cash flows from financing activities:
 Proceeds from issuance of common stock                        339,000              1,238,000
 Dividends paid                                             (3,216,000)            (2,969,000)
 Purchase of treasury stock                                 (9,781,000)            (2,739,000)
                                                          ------------           ------------

 Cash used in financing activities                         (12,658,000)            (4,470,000)
                                                          ------------           ------------

Effect of exchange rate changes on cash
 and cash equivalents                                          (15,000)               792,000
                                                          ------------           ------------

Net increase (decrease) in cash and cash equivalents         4,099,000            (15,510,000)

Cash and cash equivalents - Beginning of period             96,203,000             74,735,000
                                                          ------------           ------------

Cash and cash equivalents - End of period                 $100,302,000           $ 59,225,000
                                                          ============           ============

Cash expended for income taxes                            $  1,600,000           $  2,700,000
                                                          ============           ============

Cash expended for interest                                $     10,000           $     10,000
                                                          ============           ============

</TABLE>


See accompanying notes to consolidated condensed financial statements.





                                       3

<PAGE>   6

                               KAYDON CORPORATION

              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

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

(1)  The consolidated condensed financial statements included herein have been
     prepared by Kaydon Corporation and subsidiaries (the "Company"), without
     audit, pursuant to the rules and regulations of the Securities and
     Exchange Commission. Certain information and footnote disclosures normally
     included in annual financial statements prepared in accordance with
     generally accepted accounting principles have been condensed or omitted
     pursuant to such rules and regulations, although the Company believes that
     the disclosures made in this document are adequate to make the information
     presented not misleading. It is suggested that these consolidated
     condensed financial statements be read in conjunction with the
     consolidated financial statements and notes thereto in the Company's 1998
     Annual Report on Form 10-K.


(2)  In the opinion of management, the accompanying unaudited consolidated
     condensed financial statements contain all adjustments, of a normal and
     recurring nature, necessary to present fairly the financial position of
     the Company as of April 3, 1999 and the results of its operations and its
     cash flows for the three months then ended. However, interim results are
     not necessarily indicative of results of a full year.


(3)  Inventories are valued at the lower of cost or market and include
     material, labor and overhead. Cost is determined under the first-in,
     first-out ("FIFO") method. Inventories are summarized as follows:

<TABLE>
<CAPTION>
                                      April 3, 1999     December 31, 1998
                                      -------------     -----------------
<S>                                   <C>               <C>

     Raw Material                      $28,061,000         $26,570,000
     Work in Process                    20,137,000          20,352,000
     Finished Goods                     21,712,000          21,254,000
                                       -----------         -----------
                                       $69,910,000         $68,176,000
                                       ===========         ===========

</TABLE>


(4)  In 1998, the Company adopted Statement of Financial Accounting Standards
     No. 130, "Reporting Comprehensive Income". This statement establishes
     standards for reporting and display of comprehensive income and its
     components. Comprehensive income reflects the change in equity of a
     business enterprise during a period from transactions and other events and
     circumstances from nonowner sources. For the Company, the comprehensive
     income consists of net income, minimum pension liability adjustments and
     foreign currency 




                                       4
<PAGE>   7

     translation adjustments. Other comprehensive income, net of tax, was
     approximately ($923,000) and $974,000, resulting in comprehensive income
     of $15,201,000 and $19,269,000 for the quarters ended April 3, 1999 and
     April 4, 1998, respectively.



(5)  The following table reconciles the numerators and denominators used in the
     calculation of basic and diluted earnings per share for the quarters
     presented.

<TABLE>
<CAPTION>
                                                                   Quarter Ended

                                                          April 3, 1999       April 4, 1998
                                                          -------------       -------------
<S>                                                       <C>                 <C>        

     Numerators:
        Numerators for both basic
        and diluted earnings per share,
        net income                                         $16,124,000         $18,295,000
                                                           ===========         ===========

     Denominators:
        Denominators for basic earnings
        per share, weighted average
        common shares outstanding                           32,001,000          33,006,000

     Potential dilutive shares resulting
     from stock option plans                                   208,000             259,000
                                                           -----------         -----------

     Denominators for dilutive
     earnings per share                                     32,209,000          33,265,000
                                                           ===========         ===========

     Earnings per share:
     Basic                                                        $.50                $.55
                                                                  ====                ====
     Diluted                                                      $.50                $.55
                                                                  ====                ====

</TABLE>


     Options to purchase 145,800 shares of common stock at $33.00 per share
     were outstanding during the first quarter of 1999, but were not included
     in the computation of diluted earnings per share because the options'
     exercise price was greater than the average market price of the common
     shares during that period.

     All outstanding options to purchase shares of common stock were included
     in first quarter 1998 diluted earnings per share computation because the
     options' exercise price was less than the average market price of common
     shares during that period.





                                       5

<PAGE>   8




(6)  In 1998, the Company adopted the provisions of Statement of Financial
     Accounting Standards No. 131, "Disclosures about Segments of an Enterprise
     and Related Information". This statement establishes new standards for
     reporting information about operating segments and related disclosures.
     All prior period information has been restated to conform to this
     statement.

     The Company operates through individual operating units which serve four
     key market sectors. The market sectors served by the Company have several
     related economic characteristics and attributes, including similar
     products, distribution patterns and classes of customers. As a result, the
     Company aggregates its operating units into a single segment of
     Custom-Engineered Products.

     The corporate component of income before taxes includes interest income,
     goodwill amortization, depreciation and unallocated corporate
     administrative expenses. The Company maintains an asymmetrical allocation
     between its corporate office and its plants with regards to goodwill. The
     goodwill associated with an operating unit is on the balance sheet of the
     respective operating unit while the amortization expense associated with
     the goodwill is charged to the corporate office.

     Segment financial data (in thousands): 

<TABLE>
<CAPTION>
                                                                Quarter Ended
                                           April 3, 1999                                 April 4, 1998
                            ----------------------------------------        -----------------------------------------
                               Custom-                                         Custom-
                            Engineered                  Consolidated        Engineered                   Consolidated
                              Products       Corporate        Totals          Products        Corporate        Totals
<S>                         <C>           <C>             <C>               <C>                  <C>              <C>    

     Sales                    $89,749          $  0          $89,749           $99,827          $  0          $99,827
     Elimination of
       intercompany
       sales                   (1,629)            0           (1,629)             (718)            0             (718)
                              -------          ----          -------           -------          ----          -------
     Total net sales           88,120             0           88,120            99,109             0           99,109

     Segment EBIT              25,107             0           25,107            28,583             0           28,583
     Unallocated
       amounts                      0           691              691                 0           926              926
                              -------          ----          -------           -------          ----          -------
     Income before
       income taxes           $25,107          $691          $25,798           $28,583          $926          $29,509
</TABLE>



     There has been no change in the basis or measurement of segmentation since
     the last annual report.




                                       6

<PAGE>   9

(7)  In June of 1995, the Company, along with certain former officers and
     directors of the Company and certain other companies and organizations,
     was named as a defendant in a lawsuit commenced in Bankruptcy Court in the
     Southern District of New York. The plaintiff was the Creditors Committee
     formed in connection with the Chapter 11 Bankruptcy Proceeding of Keene
     Corporation ("Keene"). That action, identified as the "Transactions
     Lawsuit", asserted claims against the Company arising from the Company's
     1983 acquisition of certain assets of Keene, and Bairnco Corporation's
     1984 spin-off of the Company's common stock. As originally filed, the
     Transactions Lawsuit alleged claims against the Company under state
     fraudulent conveyance laws, tort claims under successor liability law, and
     civil RICO claims. The Transactions Lawsuit seeks damages alleged by
     plaintiffs to be an amount of $700 million, plus interest and punitive
     damages against the defendants collectively. The RICO claims sought
     trebling of those damages. The claims asserted in the Transactions Lawsuit
     are similar to, and supplant, claims previously asserted in certain class
     actions brought against the Company in 1993, purportedly on behalf of
     certain persons with asbestos-related claims against Keene.

     In 1997, in connection with the Bankruptcy Court's confirmation of Keene's
     Plan of Reorganization, the Keene Creditors Trust was created to, among
     other things, prosecute this lawsuit, and the Trustees of that Trust were
     substituted as the plaintiffs in place of the Keene Creditors Committee.
     In addition, the case was transferred from the Bankruptcy Court to the
     United States District Court for the Southern District of New York.
     Subsequently, the Company and certain other defendants filed motions to
     dismiss the complaint for failure to state a claim, and for summary
     judgment on the grounds that the fraudulent conveyance claims and certain
     related causes of action were barred by the statute of limitations.

     On October 13, 1998, the Court granted in part and denied in part the
     Company's motion to dismiss the complaint, and denied the Company's motion
     for summary judgment. With respect to the motion for summary judgment, the
     Court found that certain groups of asbestos claimants had claims that were
     not time-barred, and therefore the plaintiffs could assert claims against
     the Company for both actual fraudulent conveyance and constructive
     fraudulent conveyance. With respect to the motion to dismiss, the Court
     granted the Company's motion to dismiss the fraudulent conveyance claim
     against it in connection with Bairnco's 1984 spin-off of the Company's
     common stock, and dismissed all the RICO claims asserted against the
     Company. The Court denied the Company's motion to dismiss the successor
     liability claim, but noted the plaintiffs' ability to pursue such a claim
     was subject to their ability to pursue a fraudulent conveyance claim.





                                       7

<PAGE>   10


     On October 29, 1998, the Company filed a motion for reargument of the
     Court's ruling that the plaintiffs' claims for actual and constructive
     fraudulent conveyance against the Company are not barred by the applicable
     statute of limitations. On January 5, 1999, the Court issued a decision on
     the Company's motion for reargument, which granted the Company's motion
     for reargument with regard to the plaintiffs' claims for constructive
     fraudulent conveyance, and, with one minor exception, held those claims
     were barred by the applicable statute of limitations and dismissed them.
     However, the Court denied the Company's motion to dismiss the actual
     fraudulent conveyance claims. Accordingly, as a result of the Company's
     motions, the only claims remaining against the Company are plaintiffs'
     claims for actual fraudulent conveyance and for successor liability. In
     addition, there is on behalf of certain individual judgment creditors, a
     limited claim for constructive fraudulent conveyance. The Company does not
     believe any recovery on this limited claim will be material. The discovery
     stay previously in place has been lifted, and discovery is in its
     preliminary stages.

     In other decisions, the Court also dismissed the claims against all the
     individual defendants except one, and against the professional
     organizations that had been named as defendants in the case. However,
     Bairnco and its other subsidiaries and former subsidiaries remain as
     defendants in the case.

     Management believes it has meritorious defenses to the claims pending
     against it in this litigation. Accordingly, no provision has been
     reflected in the consolidated financial statements for any alleged
     damages. Management further believes that the outcome of this litigation
     will not have a material adverse effect on the Company's financial
     position.

     In June 1996, the Company received a subpoena issued by the U.S. District
     Court in Bridgeport, Connecticut on behalf of a grand jury investigating a
     May 9, 1996 accident involving a Sikorsky helicopter (CH-53E) in which
     four persons died. The grand jury requested and received documents and
     records relating to bearings manufactured by Kaydon and used in the
     Sikorsky helicopter. In addition, a "Mishap Board" led by Sikorsky
     Aircraft Corporation alleged that product quality problems or deficiencies
     existed with respect to the Kaydon bearing used in the Sikorsky helicopter
     described above. Kaydon was excluded from participation on this "Mishap
     Board". However, it has independently evaluated the available evidence and
     refuted the "Mishap Board" findings in reports submitted to the Navy.
     Subsequent incidents have occurred in the helicopter fleet even though the
     bearings used were newly manufactured, inspected and approved by Sikorsky
     and Navy personnel, reinforcing the Company's position that the bearing
     quality was not the causative action in the May 9, 1996 accident. During
     the first half of 1997, the estates of the four deceased individuals filed
     civil suits against the Company. On July 6, 1998, Sikorsky filed a claim
     against the Company in those same civil cases claiming 




                                       8

<PAGE>   11

     damages which they are alleged to have incurred following the May 9, 1996
     accident. In October 1998, Kaydon reached settlement agreements with the
     estates of each plaintiff in the four civil suits. All settlement amounts
     were fully covered under Company insurance. In September 1998, Kaydon
     received the Judge Advocate General's Report (the "JAG Report") and the
     Naval Air Systems Command "First Endorsement" to the JAG Report dated July
     28, 1998 wherein the U.S. Navy reviewed the crash of the Sikorsky CH-53E
     on May 9, 1996. The findings contained in the JAG Report, management
     believes, reaffirm the position that the bearing was not the causative
     action in the May 9, 1996 accident. Management believes it has meritorious
     defenses against any claims. Management further believes the outcome of
     this matter will not have a material adverse effect on the Company's
     financial position or results of operations.

     Various other claims, lawsuits and environmental matters arising in the
     normal course of business are pending against the Company. Management
     believes that the outcome of these matters will not have a material
     adverse effect on the Company's financial position or results of
     operations.





                                       9

<PAGE>   12

                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
-------------------------------------------------------------------------------


Results of Operations

During the first quarter of 1999, Kaydon Corporation and subsidiaries (the
"Company") achieved sales of $88,120,000, down 11.1 percent from $99,109,000 in
the first quarter of 1998. The Company was negatively impacted by lower sales
levels to construction equipment and aerospace markets, as well as lower sales
levels of specialty bearing products in the United Kingdom. First quarter 1999
sales generally reflected modest demand in key markets as well as the impact of
continuing, but moderating, excess inventory levels at key customers,
especially in distribution channels. As a result of the lower sales volume,
gross profit during the 1999 first quarter of $34,456,000 was 39.1 percent of
sales, compared with $40,468,000 or 40.8 percent of sales in the 1998 first
quarter.

Selling and administrative expenses were $9,708,000 or 11.0 percent of sales
during the 1999 first quarter, down $2,500,000 from $12,208,000 or 12.3 percent
of sales during last year's comparable quarter. The decrease is attributed to
management's emphasis on spending controls during this period of lower sales.

Net interest income of $1,050,000 was down $199,000 from $1,249,000 last year
on lower average cash balances and lower prevailing investment rates by 50 to
70 basis points.

First quarter 1999 net income was $16,124,000, or 18.3 percent of sales.
Earnings per share on a diluted basis equaled $.50. First quarter 1998 net
income and diluted earnings per share were $18,295,000 and $.55.

The effective tax rate during the 1999 first quarter was 37.5 percent compared
to 38.0 percent in the first quarter 1998. The lower rate is due to a
combination of lower foreign rates and higher export sales.


Liquidity and Capital Resources

Working capital was $164,083,000 at the end of the first quarter reflecting a
current ratio of 3.3 compared to $158,600,000 and a current ratio of 3.2 at
year-end 1998. Cash flow from operations was a record $19,343,000 during the
first quarter up from $18,944,000 for the same period in 1998, reflecting
better control of working capital during this period of lower sales.





                                      10

<PAGE>   13

Depreciation and amortization totaled $4,125,000 compared to $3,698,000 in the
first quarter 1998.

Cash and cash equivalents equaled $100,302,000 at the end of the first quarter,
up $4,099,000 over the balance at year-end 1998 of $96,203,000. This increase
reflects strong operating cash flow offset by capital expenditures of
$2,571,000 and the repurchase of 317,223 shares of common stock for $9,781,000.

Management expects that the Company's planned capital requirements for the
remainder of 1999, which consists of capital expenditures, dividend payments
and its stock repurchase program will be financed by operations. The Company
expects to have a new $300,000,000 credit facility in place before the end of
the second quarter. The Company is currently debt free.


Year 2000

This year 2000 readiness disclosure is the most current information available
and replaces all previous disclosures made by the Company in its filings on
Form 10-Q and Form 10-K, and in its Annual Report to shareholders.

The Company has a plan in place to manage the readiness of its systems with
respect to the requirements for transaction processing in the year 2000. The
proprietary Company internal system was modified to be year 2000 compliant in
1997. Review and testing of the modifications was completed during 1998. The
costs for these modifications were expensed as routine internal programming
costs during the period incurred and were not material. Any additional expenses
will also be expensed as incurred and are not expected to be material.

As part of the Company's long-term objectives for continued operational
improvements and cost management, investments are planned in information
technology. The cost of these investments are estimated at $2.5 to $3.0 million
over the next 18 months. As part of any investment in information systems, year
2000 compliance will be assured. The incremental costs associated with year
2000 modifications related to these investments, if any, will be expensed as
incurred and are not expected to be material.

Embedded technology in facilities systems, machinery and equipment is currently
being inventoried and assessed. No significant year 2000 compliance issues are
anticipated and completion of all remediation is expected to be completed by
December 31, 1999.

A component of the Company's year 2000 readiness plan is to address any
remaining open issues anticipated in 1999 and early 2000. As a precautionary
measure, the Company will be developing contingency plans for systems not
expected to be year 2000 compliant. A variety of automated as well as manual
fallback plans are under consideration.





                                      11


<PAGE>   14

The Company is also working with its customers, vendors and suppliers to assess
the year 2000 readiness of their systems. It is anticipated this activity will
be completed by December 31, 1999. Any costs for remediation of third party
system issues are expected to be borne by those third parties.

At this time, the Company would characterize as "worst case" any scenario that
involves potential disruptions in which the Company's operations may rely on
such third parties whose systems may not work properly after December 31, 1999.
Possible consequences of year 2000 interruptions include, but are not limited
to, a temporary inability to manufacture or ship product; process transactions;
communicate with customers, suppliers, subsidiary locations and employees; or
conduct other similar corporate activities in a normal business environment.
While such failures could affect the Company either directly or indirectly, the
Company cannot at the present time estimate either the likelihood or the
potential cost of such failures.


Outlook

The Company's backlog at the end of first quarter was $137,390,000 compared to
$145,311,000 at the end of 1998. Based upon current business indications,
including quoting activity and future business forecasts for Kaydon customers'
end-markets, we believe that order entry should increase during 1999's second
half. The new credit facility, together with the Company's current cash
reserves, will provide substantial resources to fund our ongoing business
development efforts.

Certain information in this Form 10-Q is forward looking, such as the Company's
expectations regarding future financial performance and the expansion of the
Company credit facility. The Company may not update these expectations to
reflect subsequent events. Such forward-looking information involves risks and
uncertainties that could significantly affect expected results. These risks and
uncertainties include, but are not limited to, uncertainties to economic
conditions, market acceptance of new enhanced versions of the Company's
products, the pricing of raw materials and changes in the competitive
environments in which the Company's businesses operate. Readers are cautioned
to consider these factors when relying on such forward-looking information.





                                      12
<PAGE>   15

Part II                        OTHER INFORMATION

Item 4.  Submission of Matters to a Vote of Security Holders

         The fifteenth Annual Shareholders' Meeting of Kaydon Corporation was
         held at the Tampa Airport Marriott on April 30, 1999. Represented at
         this meeting in person or by proxy were 27,915,437 shares of Kaydon
         common stock, representing 87.3 percent of the total outstanding as of
         the February 26, 1999 record date.

         1.  The shareholders elected Gerald J. Breen, Brian P. Campbell,
             Lawrence J. Cawley, Thomas C. Sullivan and B. Joseph White to
             serve as Directors until the 2000 Annual Meeting. The results of
             the votes were as follows:

<TABLE>
<CAPTION>

                                        For             Withhold
                                     ----------         --------
<S>                                  <C>                 <C>   

                 G. Breen            27,877,264          38,173
                 B. Campbell         27,874,656          40,781
                 L. Cawley           27,873,419          42,018
                 T. Sullivan         27,856,671          58,766
                 B. J. White         27,330,092         585,345

</TABLE>

         2.  The result of the vote to approve the Kaydon Corporation 1999 Long
             Term Stock Incentive Plan was as follows:

<TABLE>
<CAPTION>

                    For         Against          Abstain      Broker Non-Votes
                    ---         -------          -------      ----------------
<S>                            <C>               <C>          <C>

                 12,314,172    10,895,260        800,345          3,905,660

</TABLE>

             There was no other official business to come before the meeting.



Item 5.  Other Information

         Effective April 30, 1999, Mr. Brian P. Campbell was elected Chairman
         of the Board, succeeding Lawrence J. Cawley who retired from active
         management. Mr. Campbell will also continue to hold the positions of
         President and Chief Executive Officer.





                                      13

<PAGE>   16



Item 6.  Exhibits and Reports on Form 8-K

         A.  Exhibit No.   Description

                (27)       Financial Data Schedule (for SEC use only)

         B.  Reports on Form 8-K

             No reports on Form 8-K were filed during the quarter ended 
             April 3, 1999.





                                      14

<PAGE>   17

                                   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 thereunto duly authorized.


                                          KAYDON CORPORATION



May 17, 1999                              /s/ Brian P. Campbell
                                          ------------------------------------
                                              Brian P. Campbell
                                              (Chairman, President & Chief 
                                              Executive Officer)



May 17, 1999                              /s/ Kenneth W. Crawford
                                          ------------------------------------
                                              Kenneth W. Crawford
                                              (Vice President & Corporate 
                                              Controller)


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