SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

               QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


For the Quarter Ended      March 31, 2003

Commission File Number        0-23539


                                LADISH CO., INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                  Wisconsin                                 31-1145953
      -------------------------------                  -------------------
      (State or other Jurisdiction of                   (I.R.S. Employer
       incorporation or organization)                  Identification No.)

5481 South Packard Avenue, Cudahy, Wisconsin                  53110
--------------------------------------------                ----------
  (Address of principal executive offices)                  (Zip Code)

                                 (414) 747-2611
              ----------------------------------------------------
              (Registrant's telephone number, including area code)


     Indicate by check mark whether the Registrant (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, and (2) has been subject to such filing
requirements for the past 90 days.

                   Yes  X        No
                      -----        -----

     Indicate by check mark whether the Registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act).

                   Yes           No  X
                      -----        -----

     Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

           Class                                   Outstanding at March 31, 2003
-----------------------------                      -----------------------------
Common Stock, $0.01 Par Value                                13,023,393


<PAGE>











                         PART I - FINANCIAL INFORMATION












                                  Page 2 of 14
<PAGE>

                                LADISH CO., INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                    (Dollars in Thousands, Except Share Data)

                                                        For the Three Months
                                                           Ended March 31,
                                                     -------------------------
                                                         2003          2002
                                                     -----------   -----------

Net sales........................................    $   47,307    $   53,156

Cost of sales....................................        45,291        49,007
                                                     ----------    ----------
      Gross income on sales......................         2,016         4,149

Selling, general and administrative expenses.....         1,122         2,824
                                                     ----------    ----------
      Income from operations.....................           894         1,325

Other income (expense):
   Interest expense..............................          (529)         (446)
   Other, net....................................             6            63
                                                     ----------    ----------
      Income before provision (credit)
       for income taxes..........................           371           942

Provision (credit) for income taxes..............          (203)          339
                                                     ----------    ----------
      Net income.................................    $      574    $      603
                                                     ==========    ==========


Basic earnings per share.........................    $     0.04    $     0.05

Diluted earnings per share.......................    $     0.04    $     0.05

Basic weighted average shares outstanding........    13,023,393    12,976,060

Diluted weighted average shares outstanding......    13,047,966    13,118,831


                                  Page 3 of 14
<PAGE>

                                LADISH CO., INC.
                           CONSOLIDATED BALANCE SHEETS
                    (Dollars in Thousands, Except Share Data)

                                                        March 31,   December 31,
         Assets                                           2003          2002
         ------                                         ---------   ------------
Current assets:
   Cash and cash equivalents..........................  $   5,714    $   8,959
   Accounts receivable, less allowance
    at each date of $191..............................     39,107       32,237
   Inventories........................................     49,274       45,849
   Deferred income taxes..............................      5,764        5,764
   Prepaid expenses and other current assets..........        836          664
                                                        ---------    ---------
      Total current assets............................    100,695       93,473
                                                        ---------    ---------
Property, plant and equipment:
   Land and improvements..............................      4,878        4,828
   Buildings and improvements.........................     35,166       35,166
   Machinery and equipment............................    151,732      151,364
   Construction in progress...........................      9,564        9,374
                                                        ---------    ---------
                                                          201,340      200,732
   Less - accumulated depreciation....................   (104,848)    (102,240)
                                                        ---------    ---------
      Net property, plant and equipment...............     96,492       98,492

Deferred income taxes.................................     23,205       23,023
Other assets  ........................................     10,806       10,822
                                                        ---------    ---------

      Total assets....................................  $ 231,198    $ 225,810
                                                        =========    =========

      Liabilities and Stockholders' Equity
Current liabilities:
   Accounts payable...................................  $  23,022    $  17,134
   Accrued liabilities:
      Pensions........................................      2,759        1,792
      Postretirement benefits.........................      4,744        4,744
      Wages and salaries..............................      4,710        3,343
      Taxes, other than income taxes..................        641          365
      Interest........................................        424          981
      Paid progress billings..........................        469          571
      Other...........................................        629        1,400
                                                        ---------    ---------
         Total current liabilities....................     37,398       30,330
Long term liabilities:
   Senior notes.......................................     30,000       30,000
   Postretirement benefits............................     35,953       36,312
   Pensions ..........................................      8,310       10,201
   Other noncurrent liabilities.......................        594          598
                                                        ---------    ---------
         Total liabilities............................    112,255      107,441
                                                        ---------    ---------

Stockholders' equity:
   Common stock - authorized 100,000,000,
    issued 14,573,515 shares at each date
    of $.01 par value.................................        146          146
   Additional paid-in capital.........................    109,769      109,769
   Retained earnings..................................     30,180       29,606
   Treasury stock, 1,550,122 shares of
    common stock at each date at cost.................    (11,349)     (11,349)
   Additional minimum pension liability...............     (9,803)      (9,803)
                                                        ---------    ---------
         Total stockholders' equity...................    118,943      118,369
                                                        ---------    ---------

         Total liabilities and stockholders' equity...  $ 231,198    $ 225,810
                                                        =========    =========

                                  Page 4 of 14
<PAGE>

                                LADISH CO., INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (Dollars in Thousands)

                                                       For the Three Months
                                                          Ended March 31,
                                                       ---------------------
                                                         2003         2002
                                                       --------     --------
CASH FLOWS FROM OPERATING ACTIVITIES:

   Net income.......................................   $   574      $   603
   Adjustments to reconcile net income
    to net cash provided by (used for)
    operating activities:
      Depreciation..................................      3,153       3,790
      Deferred income taxes.........................      (182)         237
      Non-cash compensation income related
       to stock options.............................        --           72
      Other.........................................        (1)         (43)

   Changes in assets and liabilities:
      Accounts receivable...........................    (6,870)      (3,930)
      Inventories...................................    (3,425)         (81)
      Other assets..................................      (156)      (2,411)
      Accounts payable and accrued liabilities......     7,068        4,447
      Other long-term liabilities...................    (2,254)        (514)
                                                       -------      -------
         Net cash provided by (used for)
          operating activities......................    (2,093)       2,170
                                                       -------      -------

CASH FLOWS FROM INVESTING ACTIVITIES:

   Additions to property, plant and equipment.......    (1,165)      (5,196)
   Proceeds from sale of property, plant and
    equipment.......................................        13           65
                                                       -------      -------

         Net cash used for investing activities.....    (1,152)      (5,131)
                                                       -------      -------

CASH FLOWS FROM FINANCING ACTIVITIES:

         Net cash provided by financing activities..        --           --
                                                       -------      -------

DECREASE IN CASH AND CASH EQUIVALENTS...............    (3,245)      (2,961)
CASH AND CASH EQUIVALENTS, beginning of period......     8,959        3,962
                                                       -------      -------

CASH AND CASH EQUIVALENTS, end of period............   $ 5,714      $ 1,001
                                                       =======      =======

                                  Page 5 of 14
<PAGE>

                                LADISH CO., INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    (Dollars in Thousands, Except Share Data)

(1)  Basis of Presentation

In the opinion of the Company, the accompanying unaudited consolidated condensed
financial statements contain all adjustments necessary to present fairly its
financial position at March 31, 2003 and December 31, 2002 and its results of
operations and cash flows for the three months ended March 31, 2003 and March
31, 2002. All adjustments are of a normal recurring nature.

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with Article 10 of Regulation S-X and therefore do not
include all information and footnotes necessary for a fair presentation of the
financial position, results of operations and cash flows in conformity with
accounting principles generally accepted in the United States of America. The
Company has filed a report on Form 10-K which contains audited consolidated
financial statements that include all information and footnotes necessary for a
fair presentation of its financial position at December 31, 2002 and 2001, and
the related consolidated statements of operations, stockholders' equity, and
cash flows for the years ended December 31, 2002, 2001 and 2000.

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities at the date
of financial statements and the reported amounts of revenues and expenses during
the reporting periods. Actual results will likely differ from those estimates,
but management believes such differences will not be material.

The results of operations for any interim period are not necessarily indicative
of the results to be expected for a full year.

(2)  Inventories

Inventories consisted of:

                                                    March 31,    December 31,
                                                      2003           2002
                                                    ---------    ------------
     Raw material and supplies                      $ 10,603       $ 10,235
     Work-in-process and finished goods               39,510         36,567
     Less progress payments                             (839)          (953)
                                                    --------       --------
     Total inventories                              $ 49,274       $ 45,849
                                                    ========       ========

(3)  Interest and Income Tax Payments

                                                      For the Three Months
                                                         Ended March 31,
                                                      --------------------
                                                        2003          2002
                                                      -------        -----
     Interest                                         $ 1,070        $ 977
     Income taxes                                           9           60

                                  Page 6 of 14
<PAGE>

(4)  Cash and Cash Equivalents

Cash in excess of daily requirements is invested in marketable securities
consisting of Commercial Paper and Repurchase Agreements which mature in three
months or less. Such investments are deemed to be cash equivalents.

(5)  Revenue Recognition

Revenue is recognized when products are shipped pursuant to firm, fixed-price
written contracts with title to the products passing to the customers at the FOB
point.

(6)  Refund Receivable From Internal Revenue Service and Income Taxes

Included in the first quarter of 2003 as a reduction of selling, general and
administrative expenses and in accounts receivable is a $1,250 receivable from
the Internal Revenue Service for the refund of certain pension excise taxes
expensed and paid in prior years. Due to the nature of this item it has been
treated as a significant infrequently occurring item in the provision for income
taxes. The effective tax rate applied to loss before provision for income tax is
71.3%. The principal difference between the effective rate for the quarter ended
March 31, 2003 and the expected tax rate of 35% is state income taxes net of
deferred benefit of 5% and a benefit resulting primarily from the
Extraterritorial Income Exclusion of 31.3%.

(7)  Earnings Per Share

The incremental difference between basic weighted average shares outstanding and
diluted weighted average shares outstanding is due to the dilutive impact of
outstanding options and warrants.

(8)      Stockholders' Equity

The Company has a Long-Term Incentive Plan (the "Plan") that covers certain
employees. Under the Plan, incentive stock options for up to 983,333 shares may
be granted to employees of the Company of which 970,333 options have been
granted. These options expire ten years from the grant date. These options vest
over two years. During the first quarter of 2003, 7,500 options were forfeited.
As of March 31, 2003, 712,834 options granted under the Plan remain outstanding.

The Company accounts for its option grants using the intrinsic value based
method pursuant to APB Opinion No. 25 and Statement of Financial Accounting
Standards No. 123 ("SFAS 123") under which no compensation expense was
recognized in the three-month period ending March 31, 2003. Had compensation
cost for these options been determined pursuant to the fair value method under
SFAS 123, the Company's pro forma net income and diluted earnings per share
would have been as follows:

                                                   For the Three-Month Period
                                                      Ended March 31, 2003
                                                   --------------------------
                                                   As Reported      Pro Forma
                                                   -----------     ----------
     Net income                                       $ 574           $ 545
     Diluted earnings per share                       $0.04           $0.04

Because the SFAS 123 method of accounting has not been applied to options
granted prior to January 1, 1995, and additional awards in future years are
anticipated, the effect of applying SFAS 123 in the above pro forma disclosure
is not necessarily indicative of future results.

                                  Page 7 of 14
<PAGE>

The fair value of the option grants at March 31, 2003 used to compute the pro
forma amounts above was estimated using the Black-Scholes option pricing model
with the following assumptions:

                    Weighted         Weighted        Weighted      Weighted
                     Average          Average        Average        Average
                    Risk Free        Expected       Volatility   Black-Scholes
Period Ended      Interest Rate   Remaining Lives     Factor     Option Price
------------      -------------   ---------------   ----------   -------------

March 31, 2003        5.08%           10 Years         52.37%         $6.41






                                  Page 8 of 14
<PAGE>

                             Management's Discussion
                    and Analysis of Results of Operations and
                          Changes in Financial Position
                             (Dollars in Thousands)

RESULTS OF OPERATIONS

First Quarter 2003 Compared to First Quarter 2002

Net sales for the three months ended March 31, 2003 were $47,307 compared to
$53,156 for the same period in 2002. The decrease in sales for the first quarter
of 2003 was due to the continued downturn of the commercial airline industry and
the war in Iraq. Gross profit for the first quarter of 2003 declined to 4.3% of
sales in contrast to 7.8% of sales in the first quarter of 2002 primarily as a
result of product mix, margin pressures in 2003 and lack of sales volume. In
addition, the Company experienced an energy cost increase as a result of price
increases of approximately $800 over forecast in the first quarter of 2003.

Selling, general and administrative expenses, as a percentage of sales, were
2.4% for the first quarter of 2003 compared to 5.3% for the same period in 2002.
The variation in SG&A expenses between the periods was largely attributable to
the Company's recognition of $1,250 of income in 2003 from settlement of an
excise tax matter with the Internal Revenue Service ("IRS").

Interest expense for the three-month period in 2003 was $529 in contrast to $446
in 2002. During the first quarter of 2003, the Company's revolving debt had an
interest rate equal to the LIBOR rate plus 1.25% per annum and the senior notes
bear interest at the rate of 7.19% per annum. The Company had no borrowings
under the revolving debt in the first quarter of 2003.

The credit to income taxes for the three-month period in 2003 of $203 reflects a
portion of the benefit of the Extra-Territorial Income Exclusion on foreign
sales. The $339 provision for income taxes for 2002 and $203 credit for 2003
represent largely non-cash accounting provisions. The Company has significant
net operating loss ("NOL") carryforwards which largely offset most calculated
tax liabilities of the Company. For financial statement purposes, the Company
has recorded as a deferred tax asset the tax benefits attributable to the NOL
carryforwards. Therefore, the Company uses an effective tax rate which reflects
federal and state taxes without a reduction for actual NOL usage. See Note 6 to
the consolidated financial statements and "Liquidity and Capital Resources."

Net income for the first quarter of 2003 was $574, a 5% decline from the same
period in 2002. The decrease in profitability was due to lower sales volume in
2003, higher energy costs and margin pressure from customers, offset in part by
the effects of the settlement of the excise tax matter and the changes in income
taxes.

Liquidity and Capital Resources

On April 13, 2001, the Company and a syndicate of lenders entered into an
amended and restated credit facility (the "New Facility"). The New Facility was
comprised of a $16,000 term facility with a three-year maturity and a $39,000
revolving loan facility. The term facility bore interest at a rate of LIBOR plus
1.25% and the revolving loan facility bore interest at a rate of LIBOR plus
0.80%.

On July 20, 2001, the Company sold $30,000 of Notes in a private placement to
certain institutional investors. The Notes bear interest at a rate of 7.19% per
annum with the interest being paid semiannually. The Notes have a seven-year
duration with the principal amortizing equally over the remaining duration


                                  Page 9 of 14
<PAGE>

after the third year. The Company used the proceeds from the Notes to repay
outstanding borrowings under the New Facility and for working capital purposes.

In conjunction with the private placement of the Notes, the Company and the
lenders in the New Facility amended the New Facility on July 17, 2001 (the
"Amended Facility"). The Amended Facility consisted of a $50,000 revolving line
of credit which bore interest at a rate of LIBOR plus 0.80%. On April 12, 2002,
the Amended Facility was modified to reduce the revolving line of credit to
$45,000. On December 31, 2002, the Amended Facility was further modified to
reduce the revolving line of credit to $25,000. At March 31, 2003, $21,417 was
available pursuant to the terms of the Amended Facility. There were no
borrowings under the Amended Facility as of March 31, 2003.

The Company has NOL carryforwards that were generated prior to its 1993
reorganization, as well as NOL carryforwards that were generated in subsequent
years. The total remaining NOL carryforwards were $27,290 as of December 31,
2002. The NOL carryforwards expire gradually in the years 2008 through 2022.

The Company's initial public offering in March 1998 created an ownership change
as defined by the IRS. This ownership change generated an IRS imposed limitation
on the utilization of NOL carryforward on future tax returns. The annual use of
the NOL carryforwards is limited to the lesser of the Company's taxable income
or the amount of the IRS imposed limitation. The NOL carryforwards available for
use annually is $11,865. Of the $11,865 annual limitation, $2,142 relates to a
previous restriction on NOL carryforwards generated prior to the 1993
reorganization.

Realization of the net deferred tax assets, including those attributable to the
NOL carryforwards, over time is dependent upon the Company generating sufficient
taxable income in future periods. In determining that realization of the net
deferred tax assets was more likely than not, the Company gave consideration to
a number of factors including its recent earnings history, expectations for
earnings in the future, the timing of reversal of temporary differences, tax
planning strategies available to the Company and the expiration dates associated
with NOL carryforwards. If, in the future, the Company determines that it is no
longer more likely than not that the net deferred tax assets will be realized, a
valuation allowance will be established against all or part of the net deferred
tax assets with an offsetting charge to the income tax provision.

Item 3.   Quantitative and Qualitative Disclosures about Market Risk

The Company believes that its exposure to market risk related to changes in
foreign currency exchange rates and trade accounts receivable is immaterial as
all of the Company's sales are made in U.S. dollars. The Company does not
consider itself subject to the market risks addressed by Item 305 of Regulation
S-K.

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

Any statements contained herein that are not historical facts are
forward-looking statements within the meaning of the Private Securities
Legislation Reform Act of 1995, and involve risks and uncertainties. These
forward-looking statements include expectations, beliefs, plans, objectives,
future financial performance, estimates, projections, goals and forecasts.
Potential factors which could cause the Company's actual results of operations
to differ materially from those in the forward-looking statements include:

                                 Page 10 of 14
<PAGE>

<TABLE>
<CAPTION>
<S>                                                                      <C>
o  Market conditions and demand for the Company's products               o  Competition
o  Interest rates and capital costs                                      o  Technologies
o  Unstable governments and business conditions in emerging economies    o  Raw material prices
o  Legal, regulatory and environmental issues                            o  Taxes
</TABLE>

Any forward-looking statement speaks only as of the date on which such statement
is made. The Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which such
statement is made.

Item 4.   Procedures and Controls

The registrant's certifying officers have evaluated the effectiveness of the
design and operation of the Company's internal controls and disclosure controls
and procedures within 90 days prior to the date of this quarterly report. Based
upon that review, the certifying officers have concluded that the internal
controls and disclosure controls and procedures are effectively operating to
ensure that material information relating to the Company and its consolidated
subsidiaries is made known to such officers by others within those entities,
particularly during the period in which this quarterly report was being
prepared. The review of internal controls and disclosure controls and procedures
did not reveal any significant deficiencies in the design or operation, which
could adversely affect the Company's ability to record, process, summarize and
report financial data. The Company did not discover any material weaknesses in
these controls or procedures, nor did the Company discover any fraud of any kind
involving management or other employees who have a significant role in the
Company's internal controls. There were no significant changes in the internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of evaluation, including any corrective actions taken
with regard to significant deficiencies or material weaknesses, and there are no
corrective actions contemplated as of the date of this report. The Company did
not identify any significant changes that need to be made to ensure the
effectiveness of the internal controls or the disclosure controls and
procedures. Nor did the Company identify any other factors that could materially
affect the internal controls occurring after the date of our certification.

PART II - OTHER INFORMATION
---------------------------

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

No matters were submitted to a vote of the stockholders during the period
covered by this report.

Item 5.   Other Information

None

Item 6.   Exhibits and Reports on Form 8-K

     (a)  Exhibit 99(a) is the written statement of the chief executive officer
          of the Company certifying this Form 10-Q complies with the
          requirements of Section 13(a) of the Securities Exchange Act of 1934.

          Exhibit 99(b) is the written statement of the chief financial officer
          of the Company certifying this Form 10-Q complies with the
          requirements of Section 13(a) of the Securities Exchange Act of 1934.

     (b)  No reports on Form 8-K were filed by the Company during the period
          covered by this report.

                                 Page 11 of 14
<PAGE>


CERTIFICATION

I, Kerry L. Woody, President and CEO of Ladish Co., Inc., certify that:

1.   I have reviewed this quarterly report on Form 10-Q of Ladish Co., Inc.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this quarterly
          report is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6.   The registrant's other certifying officer and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  April 28, 2003


/s/ Kerry L. Woody
-----------------------------------
Kerry L. Woody
President and CEO

                                 Page 12 of 14
<PAGE>

CERTIFICATION

I, Wayne E. Larsen, Vice President Law/Finance and Secretary of Ladish Co.,
Inc., certify that:

1.   I have reviewed this quarterly report on Form 10-Q of Ladish Co., Inc.;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this quarterly
          report is being prepared;

     b)   evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a)   all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls; and

     b)   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6.   The registrant's other certifying officer and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  April 28, 2003


/s/ Wayne E. Larsen
--------------------------------------
Wayne E. Larsen
Vice President Law/Finance & Secretary

                                 Page 13 of 14
<PAGE>


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.

                                         LADISH CO., INC.



Date:       April 28, 2003               By:  /s/  WAYNE E. LARSEN
                                             ----------------------------------
                                              Wayne E. Larsen
                                              Vice President Law/Finance
                                              & Secretary




                                 Page 14 of 14