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      June 30, 1999

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

         Class                                   Outstanding at June 30, 1999
Common Stock, $0.01 Par Value                               13,586,049


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                                                                    Page 2 of 12








                         PART I - FINANCIAL INFORMATION














<PAGE>
Page 3 of


                                LADISH CO., INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
             (Dollars in Thousands, Except Share and Per Share Data)
<TABLE>
<CAPTION>

                                                          For the Three Months         For the Six Months
                                                             Ended June 30,               Ended June 30,
                                                      --------------------------    -------------------------
                                                           1999          1998           1999          1998
                                                      -----------    -----------    -----------    ----------

<S>                                                   <C>            <C>            <C>            <C>
Net sales ........................................... $    44,771    $    60,779    $    87,527    $  122,450

Cost of sales .......................................      39,756         50,531         79,074       102,488
                                                      -----------    -----------    -----------    ----------

         Gross income on sales.......................       5,015         10,248          8,453        19,962

Selling, general and administrative expenses.........       1,922          2,170          3,579         4,227
                                                      -----------    -----------    -----------    ----------

         Income from operations......................       3,093          8,078          4,874        15,735

Other income (expense):
     Interest expense................................        (181)          (189)          (342)         (970)
     Other, net......................................          61             80            170           169
                                                      -----------    -----------    -----------    ----------

         Income from operations
            before provision for income taxes........       2,973          7,969          4,702        14,934

Provision for income taxes...........................         445            797            705         1,494
                                                      -----------    -----------    -----------    ----------

         Net income.................................. $     2,528    $     7,172    $     3,997    $   13,440
                                                      ===========    ===========    ===========    ==========




Basic earnings per share (1)......................... $      0.18    $      0.51    $      0.29    $     1.30

Diluted earnings per share (1)....................... $      0.18    $      0.46    $      0.27    $     1.11

Basic weighted average shares outstanding (1)........  13,681,544     13,982,310     13,776,189    10,362,063

Diluted weighted average shares outstanding (1)......  14,401,338     15,702,259     14,804,473    12,105,471

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

(1) See the  discussion  of the  impact  of the  March 9,  1998  Initial  Public
    Offering  of Common  Stock by the  Company on the basic  earnings  per share
    calculation as well as the diluted earnings per share calculation in Part II
    - Other Information Item 5.
</TABLE>


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                                                                    Page 4 of 12


                                LADISH CO., INC.
                           CONSOLIDATED BALANCE SHEETS
             (Dollars in Thousands, Except Share and Per Share Data)
<TABLE>
<CAPTION>

                                                                                    June 30,        December 31,
         Assets                                                                      1999               1998
         ------
Current assets:
<S>                                                                              <C>                <C>
     Cash and cash equivalents.................................................. $      1,054       $      5,517
     Accounts receivable, less allowance of $300................................       24,860             35,409
     Inventories................................................................       48,189             41,967
     Prepaid expenses and other current assets..................................          643                276
                                                                                 ------------       ------------
         Total current assets...................................................       74,746             83,169
Property, plant and equipment:
     Land and improvements......................................................        3,855              3,855
     Buildings and improvements.................................................       15,000             14,925
     Machinery and equipment....................................................      115,631            112,279
     Construction in progress...................................................        9,075              5,893
                                                                                 ------------       ------------
                                                                                      143,561            136,952
     Less - accumulated depreciation............................................      (56,886)           (50,981)
                                                                                 ------------       ------------
         Net property, plant and equipment......................................       86,675             85,971

Other assets  ..................................................................       10,125              4,737
                                                                                 ------------       ------------

         Total assets........................................................... $    171,546       $    173,877
                                                                                 ============       ============
<CAPTION>

         Liabilities and Stockholders' Equity Current liabilities:
         ---------------------------------------------------------
<S>                                                                              <C>                <C>
     Current portion of senior debt............................................. $      2,500       $      2,250
     Accounts payable...........................................................       14,247             16,194
     Accrued liabilities:
         Pensions...............................................................          841                738
         Postretirement benefits................................................        5,488              5,488
         Wages and salaries.....................................................        5,373              4,045
         Taxes, other than income taxes.........................................          158                272
         Interest...............................................................           57                 36
         Profit sharing........................................................            --              2,720
         Paid progress billings.................................................        4,184              6,767
         Other..................................................................        6,429              4,610
                                                                                 ------------       ------------
              Total current liabilities.........................................       39,277             43,120

Long-term liabilities:
     Senior debt, less current portion..........................................        6,882              1,250
     Pensions ..................................................................       15,035             17,422
     Postretirement benefits....................................................       41,839             42,762
     Other noncurrent liabilities...............................................          677                677
                                                                                 ------------       ------------
              Total liabilities.................................................      103,710            105,231
                                                                                 ------------       ------------

Stockholders' equity:
     Common stock - authorized 100,000,000, issued 14,188,803 and 14,013,667
        shares of $0.01 par value as of June 30, 1999 and December 31, 1998,
         respectively                                                                     142                140
     Additional paid-in capital.................................................       79,215             81,661
     Accumulated deficit........................................................       (7,465)           (11,462)
     Treasury stock, 602,754 shares and 222,754 shares of common stock at
        Cost as of June 30, 1999 and December 31, 1998, respectively............       (4,056)            (1,693)
                                                                                 ------------       ------------
              Total stockholders' equity........................................       67,836             68,646
                                                                                 ------------       ------------

              Total liabilities and stockholders' equity........................ $    171,546       $    173,877
                                                                                 ============       ============
</TABLE>


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                                                                    Page 5 of 12


                                LADISH CO., INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (Dollars in Thousands)
<TABLE>
<CAPTION>

                                                                                         For the Six Months
                                                                                           Ended June 30,
                                                                                  ------------------------------
                                                                                     1999                1998
                                                                                  ----------         ----------

CASH FLOWS FROM OPERATING ACTIVITIES:

<S>                                                                               <C>                <C>
     Net income................................................................   $    3,997         $    13,440
     Adjustments to reconcile net income to net cash
        provided from (used for) operating activities:
         Depreciation..........................................................        5,933               5,413
         Amortization..........................................................          189                 148
         Payment-in-kind interest on subordinated debt.........................           --                 300
         Reduction in valuation allowance......................................          599               1,396
         Other.................................................................           --                  (3)

     Change in assets and liabilities:
         Accounts receivable...................................................       11,766              (7,163)
         Inventories...........................................................       (3,271)              1,304
         Other assets..........................................................         (460)                326
         Accounts payable and accrued liabilities..............................       (4,224)              9,317
         Other long-term liabilities...........................................       (3,310)            (19,771)
                                                                                  ----------         ----------

              Net cash provided from operating activities......................       11,219               4,707
                                                                                  ----------         ----------

CASH FLOWS FROM INVESTING ACTIVITIES:

     Additions to property, plant and equipment................................       (4,635)            (6,180)
     Proceeds from sale of property, plant and equipment.......................           10                   3
     Acquisition of business...................................................      (11,533)                 --
                                                                                  ----------         -----------

              Net cash used for investing activities...........................      (16,158)            (6,177)
                                                                                  ----------         -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Proceeds from (repayment of) senior debt..................................        5,882             (22,891)
     Retirement of senior subordinated debt and warrants.......................           --             (11,625)
     Repayment of notes payable................................................           --              (1,000)
     Issuance of common stock..................................................           --              35,036
     Repurchase of common stock................................................       (2,363)               (150)
     Retirement of warrants....................................................       (3,253)                 --
     Exercise of warrants......................................................          210               6,951
                                                                                  ----------         -----------

              Net cash provided from financing activities......................          476               6,321
                                                                                   ---------         -----------

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS...............................       (4,463)              4,851
CASH AND CASH EQUIVALENTS, beginning of period.................................        5,517                 566
                                                                                  ----------         -----------

CASH AND CASH EQUIVALENTS, end of period.......................................   $    1,054         $     5,417
                                                                                  ==========         ===========
</TABLE>


<PAGE>
                                                                    Page 6 of 12


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


(1)    Basis of Presentation

In the opinion of the Company, the accompanying unaudited consolidated financial
statements  contain all  adjustments  necessary to present  fairly its financial
position at June 30, 1999 and  December  31, 1998 and its results of  operations
and cash flows for the six months  ended June 30,  1999 and June 30,  1998.  All
adjustments are of a normal recurring nature.

The accompanying  unaudited 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 flow in  conformity  with  generally
accepted accounting  principles.  In conjunction with its Form 10-K, the Company
filed audited  consolidated  financial statements which included all information
and footnotes  necessary for a fair  presentation  of its financial  position at
December  31,  1998  and  1997,  and  the  related  consolidated  statements  of
operations,  stockholders'  equity,  and cash flows for the years ended December
31, 1998, 1997 and 1996.

The results of operations  for the six-month  period ended June 30, 1999 are not
necessarily indicative of the results to be expected for the full year.

(2)    Inventories

Inventories consisted of:

                                                     June 30,      December 31,
                                                      1999            1998
                                                    ---------      ----------

         Raw material and supplies                  $  17,716      $   16,546
         Work-in-process and finished goods            33,201          28,697
         Less progress payments                        (2,728)         (3,276)
                                                    ---------      ----------

               Total inventories                    $  48,189      $   41,967
                                                    =========      ==========


<PAGE>
                                                                    Page 7 of 12


(3)    Interest and Income Tax Payments

                                                     For the Six Months
                                                       Ended June 30,
                                              -------------------------------
                                                 1999                  1998
                                              -----------           ---------

         Interest                              $  337                $ 3,084
         Income taxes                             356                    11

(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 for purposes
of the statement of cash flows.

(5)    Revenue Recognition

Revenue is recognized when products are shipped.

(6)    Initial Public Offering

On March 13, 1998, the Company received proceeds of $29.5 million on the sale of
2,336,000  shares of common stock in an initial public  offering.  Subsequently,
the  Underwriters   exercised  their  option  to  purchase  501,138  shares  for
additional proceeds of $6.3 million. In addition,  warrants for 5,792,635 shares
were  exercised  for  proceeds  and  conversion  of debt of  approximately  $7.0
million.

(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.


<PAGE>
                                                                    Page 8 of 12


                             Management's Discussion
                    and Analysis of Results of Operations and
                          Changes in Financial Position

RESULTS OF OPERATIONS

Second Quarter 1999 Compared to Second Quarter 1998

Net sales for the three months ended June 30, 1999 were $44.8  million  compared
to $60.8  million  for the same  period in 1998.  The  decrease in sales for the
second quarter of 1999 was primarily  attributed to the continued decline of the
jet engine  market and the  failure of the  Company's  joint  venture  partner's
38,000-ton  press.  The Company did benefit in the second quarter of 1999 due to
reduced costs associated with manpower  reductions and product mix. Gross profit
declined to 11.2% of sales in  contrast to 16.9% of sales in the second  quarter
of 1998 as a result of under  absorption  of fixed costs by the reduced level of
sales.

Selling,  general and  administrative  expenses,  as a percentage of sales, were
4.3% for the second  quarter  of 1999  compared  to 3.6% for the same  period in
1998.

Interest  expense for the period was $0.18  million in contrast to $0.19 million
in 1998.  The  reduction  in  interest  expense was  attributable  to lower loan
balances of senior debt and reduced  interest  rates.  As of June 30, 1999,  the
Company's  senior debt had an interest rate equal to the  commercial  paper rate
plus 1.0% per annum (reduced from 1.5% as of June 30, 1998).

The $0.45  million  provision  for taxes  for 1999 and  $0.80  million  for 1998
represent  largely  non-cash  accounting  charges.  The  reversal  of  valuation
allowances relating to  pre-restructuring  NOLs requires the Company to record a
tax  provision  and to reflect  the offset as an  addition  to paid-in  capital,
rather  than as an  offset  to the  provision  for  income  taxes.  The  overall
effective  rate differs  substantially  from the  statutory  tax rate due to the
reversal  of  valuation   allowances  relating  to   post-restructuring   versus
pre-restructuring  deferred tax assets.  The Company  intends to continue to use
its NOLs in the future to reduce actual  payment of federal  income  taxes.  The
future  use of the  NOLs is  subject  to  certain  statutory  restrictions.  See
"Liquidity and Capital Resources".

Six Months 1999 Compared to Six Months 1998

Net sales for the first six months of 1999 of $87.5  million  compares to $122.5
million  of sales for the first six  months  of 1998.  The sales  reduction  was
largely  due to a decline of the jet engine and  commercial  aerospace  industry
compounded by the  equipment  failures at both the Company and its joint venture
partner.  Gross  profit  decreased  to 9.7% in the first  six  months of 1999 in
comparison  to 16.3%  during the first half of 1998 due to  reduced  sales.  Net
income of $4.0 million, or 4.6% of sales, for the first half of 1999 compares to
the $13.4 million, or 11.0% of sales, for the same period in 1998. The reduction
in net income is attributable to the reduced sales.

<PAGE>
                                                                    Page 9 of 12


For the first six months of 1999, selling,  general and administrative expenses,
as a percentage of sales, were 4.1% compared to 3.5% for the first half of 1998.

Interest  expense for the period of $0.34  million  was a  reduction  from $0.97
million of interest  in the first six months of 1998 due to reduced  senior loan
balances,  lower interest rates and the retirement of subordinated  notes in the
first quarter of 1998.

As indicated above in the discussion of the Second Quarter, the $0.7 million tax
provision  for the first six months of 1999,  compared  to $1.5  million for the
same  period  in  1998,  represents  the  largely  non-cash  accounting  charges
associated with the use of pre-restructuring NOLs.

Liquidity and Capital Resources

In March 1998, the Company entered into an amended and restated credit agreement
(the "Credit  Agreement")  with its lender which  expires on June 30, 2000.  The
Credit Agreement consists of two facilities: (i) a $45 million revolving line of
credit (the "Revolving  Credit  Facility") and (ii) an $8 million term loan (the
"Term Loan"). All of the Company's assets have been pledged to secure borrowings
under the Credit Agreement.

Borrowings  under the  Credit  Agreement  bear  interest  at a rate equal to the
commercial  paper rate plus 1.0% per annum (reduced from 1.5% as of December 31,
1998).  Availability  under  the  Revolving  Credit  Facility  is  subject  to a
borrowing  base  limitation  which is calculated  based upon  eligible  accounts
receivable and  inventories  reduced by the amount of any letters of credit.  At
June 30, 1999,  approximately  $38.1 million was available and undrawn under the
Revolving Credit Facility.  The balance of the Term Loan as of June 30, 1999 was
$2.5 million.

As of July 1, 1999,  the Company  entered into a new credit  facility  (the "New
Facility") with a syndicate of lenders. The New Facility provides for borrowings
of up to $100 million.  Borrowings under the New Facility are unsecured and will
initially be  structured as revolving  loans with the option of conversion  into
term loans.  Borrowings  under the New Facility bear interest at a rate of LIBOR
plus 0.75% per annum.  Proceeds from the New Facility were used to terminate the
Credit Agreement on July 1, 1999.

The Company has net operating loss ("NOL")  carryforwards,  which were generated
prior to a financial restructuring that was completed on April 30, 1993, as well
as NOL  carryforwards  that  were  generated  in  subsequent  years.  The  total
remaining NOL  carryforwards  were  approximately $52 million as of December 31,
1998. The NOL carryforwards  expire gradually beginning in the year 2007 through
2010.

The Company's IPO created an ownership change as defined by the Internal Revenue
Service,  ("IRS").  This ownership change generated an IRS imposed limitation on
the utilization of NOL  carryforwards  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.

<PAGE>
                                                                   Page 10 of 12


Approximately  $12  million  of the  NOL  carryforwards  is  available  for  use
annually.  Approximately $2 million of the $12 million annual limitation relates
to a previous restriction on NOL carryforwards  generated prior to the financial
restructuring.

Based on the limitations  described above and certain other factors, a valuation
allowance  has been  recorded  against the entire amount of the net deferred tax
assets.  Any tax benefit that is realized in subsequent years from the reduction
of  the  valuation   allowance   established   at  or  prior  to  the  financial
restructuring  will be  recorded  as an  addition  to paid-in  capital.  Any tax
benefit that is realized in subsequent  years from the  utilization  of deferred
tax assets  created  after April 30,  1993,  will be recorded as a reduction  of
future income tax provisions.

Under the common stock  repurchase  program (the  "Program")  authorized  by the
Company's Board of Directors, the Company repurchased 1,066,096 shares, or share
equivalents,  of its common stock during the second  quarter of 1999. As of June
30, 1999, the Company has repurchased 1,348,850 shares, or share equivalents, of
its common stock under the Program.

Year 2000 Compliance

The Company has  installed a new  computer  operating  system which is compliant
with Year 2000 demands. The new system includes hardware, software,  fiber-optic
wiring and extensive  training for numerous Company  personnel.  The project was
initiated in 1997 and the Company implemented the system at the end of the third
quarter of 1998.  The Company used the fourth  quarter of 1998 to prove-out  and
fully convert to the new operating system. The Company has estimated the cost of
this new operating system to be approximately $6 million.

The Company is currently  assessing the need for Year 2000 contingency plans for
both internal  operations  and external  business  relations.  At this time, the
Company  believes  its new  operating  system  will fully  address all Year 2000
issues. Given the size and sophistication of those customers and suppliers which
are  material to the  Company's  business,  the Company  does not  anticipate  a
significant  business risk associated with Year 2000 compliance by its customers
and suppliers.

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.

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

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 market
conditions and demand for the

<PAGE>
                                                                   Page 11 of 12


Company's products;  competition;  technologies;  raw material prices;  interest
rates and capital costs; taxes;  unstable governments and business conditions in
emerging  economies;   and  legal,  regulatory  and  environmental  issues.  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.


PART II - OTHER INFORMATION

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

On May 21, 1999 at the annual meeting of the  stockholders  of the Company,  the
stockholders  were asked to vote on the election of a new board of directors for
the next year or until their  successors are elected.  The result of said voting
is as follows:

                Individual                      For                 Withheld
        ---------------------------          ------------           --------
        Lawrence W. Bianchi                   11,738,889            73,134
        Charles W. Finkl                      11,738,122            73,901
        Wayne E. Larsen                       11,738,889            73,134
        Robert W. Sullivan                    11,738,440            73,583
        Kerry L. Woody                        11,738,740            73,283

The above individuals represent the entire previous board of directors. No other
individuals were nominated or received stockholder votes.

No other matter was submitted to the  stockholders  for a vote during the period
covered by this report.

Item 5.     Other Information

As a result of the new shares of common  stock  issued by the Company in the IPO
combined  with the  conversion of warrants into common stock as of June 30, 1999
the  Company  had  13,586,049  basic  shares of  common  stock  outstanding  (as
reflected in the  Consolidated  Balance  Sheets on page 4). Due to the timing of
the IPO and the warrant  exercise  combined  with the  dictates of  Statement of
Financial  Accounting  Standards  No. 128,  the  Company  reported on a weighted
average basis  13,681,544  basic shares and 14,401,338  fully-diluted  shares of
common stock outstanding for the three months ended June 30, 1999 and 13,776,189
basic shares and 14,804,473 fully-diluted shares of common stock outstanding for
the six months ended June 30, 1999.

At the May 21, 1999 meeting of the  Compensation and Stock Option Committee (the
"Committee") of the Board of Directors,  the Committee  recommended reducing the
exercise  price of the 402,500  options under the 1996 Long Term  Incentive Plan
from $14.50 per share
<PAGE>
                                                                   Page 12 of 12



to $8.25 per share.  At a subsequent  Board of Directors  Meeting,  the Board of
Directors approved the Committee's recommendation.

Item 6.     Reports on Form 8-K

No reports on Form 8-K have been  filed  with the  Commission  during the period
covered by this report.


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:        July 22, 1999               By:    /S/  WAYNE E. LARSEN
                                                     Wayne E. Larsen
                                                 Vice President Law/Finance
                                                        & Secretary



<PAGE>







                                  EXHIBIT INDEX


Exhibit No.      Description


 (27)            Financial Data Schedule