----

| Wisconsin                            | 39-0667110               |
|--------------------------------------|--------------------------|
| (State      or other jurisdiction of | (I.R.S.      Employer    |
| Incorporation      or organization)  | Identification      No.) |
|                                 |                     |

----

TABLE OFCONTENTS

| PART      I.  |            |
|---------------|-----------------|
|          | Item      1.    | Financial Statements. | 3 |
|          | Item      2.    | Management Discussion and Analysis. | 13 |
|          | Item      3.    | Quantitative and Qualitative Disclosure About Market      Risk. | 21 |
|          | Item      4.    | Controls and Procedures. | 22 |
| PART      II. |            |
|          | Item      1.    | Legal Proceedings. | 22 |
|          | Item      1(A). | Risk Factors. | 22 |
|          | Item      2.    | Unregistered Sales of Equity Securities and Use of      Proceeds. | 22 |
|          | Item      3.    | Defaults Upon Senior Securities. | 23 |
|          | Item      4.    | Submission of Matters to a Vote of Security      Holders. | 23 |
|          | Item      5.    | Other Information. | 23 |
|          | Item      6.    | Exhibits. | 23 |
|          | Signature.      | 24 |

----

Table of Contents

FINANCIAL INFORMATION

|                                                                |   | March      27, |    |   | June      30, |   |
|---------------------------------------------------------------------|--------|----------------|---------|--------|---------------|--------|
|                                                                |   | 2009           |    |   | 2008          |   |
| Assets                                                              |   |           |    |   |          |   |
| Current      assets:                                                |   |           |    |   |          |   |
| Cash                                                                |   | $              | 12,303  |   |          | $      | 14,447 |   |
| Trade      accounts receivable, net                                 |   |           | 55,102  |   |          |   | 67,611 |   |
| Inventories,      net                                               |   |           | 97,906  |   |          |   | 97,691 |   |
| Deferred      income taxes                                          |   |           | 6,265   |   |          |   | 6,297 |   |
| Other                                                               |   |           | 8,780   |   |          |   | 9,649 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Total      current assets                                           |   |           | 180,356 |   |          |   | 195,695 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Property,      plant and equipment, net                             |   |           | 63,548  |   |          |   | 67,855 |   |
| Goodwill,      net                                                  |   |           | 16,651  |   |          |   | 18,479 |   |
| Deferred      income taxes                                          |   |           | 5,045   |   |          |   | 5,733 |   |
| Intangible      assets, net                                         |   |           | 7,366   |   |          |   | 9,589 |   |
| Other      assets                                                   |   |           | 6,039   |   |          |   | 7,277 |   |
|                                                                |   |           |    |   |          |   |   |   |
|                                                                |   | $              | 279,005 |   |          | $      | 304,628 |   |
| Liabilities      and Shareholders' Equity                           |   |           |    |   |          |   |   |   |
| Current      liabilities:                                           |   |           |    |   |          |   |   |   |
| Short-term      borrowings and current maturities of long-term debt |   | $              | 2,313   |   |          | $      | 1,730 |   |
| Accounts      payable                                               |   |           | 31,808  |   |          |   | 37,919 |   |
| Accrued      liabilities                                            |   |           | 37,615  |   |          |   | 49,939 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Total      current liabilities                                      |   |           | 71,736  |   |          |   | 89,588 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Long-term      debt                                                 |   |           | 55,695  |   |          |   | 48,227 |   |
| Accrued      retirement benefits                                    |   |           | 32,713  |   |          |   | 34,325 |   |
| Other      long-term                                                |   |           | 1,224   |   |          |   | 2,163 |   |
|                                                                |   |           |    |   |          |   |   |   |
|                                                                |   |           | 161,368 |   |          |   | 174,303 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Minority      interest                                              |   |           | 677     |   |          |   | 679 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Shareholders'      equity:                                          |   |           |    |   |          |   |   |   |
| Common      shares authorized: 30,000,000;                          |   |           |    |   |          |   |   |   |
| issued:      13,099,468; no par value                               |   |           | 14,225  |   |          |   | 14,693 |   |
| Retained      earnings                                              |   |           | 148,776 |   |          |   | 142,361 |   |
| Accumulated      other comprehensive (loss) income                  |   |           | (15,785 | )      |          |   | 2,446 |   |
|                                                                |   |           | 147,216 |   |          |   | 159,500 |   |
| Less      treasury stock, at cost                                   |   |           |    |   |          |   |   |   |
| (2,070,124      and 1,929,354 shares, respectively)                 |   |           | 30,256  |   |          |   | 29,854 |   |
|                                                                |   |           |    |   |          |   |   |   |
| Total      shareholders' equity                                     |   |           | 116,960 |   |          |   | 129,646 |   |
|                                                                |   |           |    |   |          |   |   |   |
|                                                                |   | $              | 279,005 |   |          | $      | 304,628 |   |

----

Table of Contents

|                                                    |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|---------------------------------------------------------|--------|-------------------------|--------|--------|------------------------|--------|
|                                                    |   | Mar.      27,           |   |   | Mar.      28,          |   |   | Mar.      27, |   |   | Mar.      28, |   |
|                                                    |   | 2009                    |   |   | 2008                   |   |   | 2009 |   |   | 2008 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Net      sales                                          |   | $                       | 69,292 |   |                   | $      | 85,838 |   |   | $ | 223,562 |   |   | $ | 241,345 |   |
| Cost      of goods sold                                 |   |                    | 50,141 |   |                   |   | 59,211 |   |   |   | 161,386 |   |   |   | 165,522 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Gross      profit                                       |   |                    | 19,151 |   |                   |   | 26,627 |   |   |   | 62,176 |   |   |   | 75,823 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Marketing,      engineering and administrative expenses |   |                    | 14,517 |   |                   |   | 14,969 |   |   |   | 47,843 |   |   |   | 47,041 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      from operations                           |   |                    | 4,634  |   |                   |   | 11,658 |   |   |   | 14,333 |   |   |   | 28,782 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      expense                                   |   |                    | 526    |   |                   |   | 757 |   |   |   | 1,837 |   |   |   | 2,325 |   |
| Other      expense, net                                 |   |                    | 1,049  |   |                   |   | 194 |   |   |   | 37 |   |   |   | 368 |   |
|                                                    |   |                    | 1,575  |   |                   |   | 951 |   |   |   | 1,874 |   |   |   | 2,693 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      before income taxes and minority interest |   |                    | 3,059  |   |                   |   | 10,707 |   |   |   | 12,459 |   |   |   | 26,089 |   |
| Income      taxes                                       |   |                    | 362    |   |                   |   | 2,719 |   |   |   | 3,639 |   |   |   | 8,686 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      before minority interest                  |   |                    | 2,697  |   |                   |   | 7,988 |   |   |   | 8,820 |   |   |   | 17,403 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Minority      interest                                  |   |                    | 153    |   |                   |   | (59 | ) |   |   | (72 | ) |   |   | (160 | ) |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      earnings                                       |   | $                       | 2,850  |   |                   | $      | 7,929 |   |   | $ | 8,748 |   |   | $ | 17,243 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Dividends      per share                                |   | $                       | 0.0700 |   |                   | $      | 0.0700 |   |   | $ | 0.2100 |   |   | $ | 0.1950 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      per share data:                           |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      earnings per share                           |   | $                       | 0.26   |   |                   | $      | 0.71 |   |   | $ | 0.79 |   |   | $ | 1.52 |   |
| Diluted      earnings per share                         |   | $                       | 0.26   |   |                   | $      | 0.70 |   |   | $ | 0.78 |   |   | $ | 1.51 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average shares outstanding data:          |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      shares outstanding                           |   |                    | 11,006 |   |                   |   | 11,198 |   |   |   | 11,127 |   |   |   | 11,318 |   |
| Dilutive      stock awards                              |   |                    | 35     |   |                   |   | 112 |   |   |   | 70 |   |   |   | 129 |   |
| Diluted      shares outstanding                         |   |                    | 11,041 |   |                   |   | 11,310 |   |   |   | 11,197 |   |   |   | 11,447 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive      income (loss):                       |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      earnings                                       |   | $                       | 2,850  |   |                   | $      | 7,929 |   |   | $ | 8,748 |   |   | $ | 17,243 |   |
| Adjustment      for amortization of net actuarial loss  |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| and      prior service cost                             |   |                    | 470    |   |                   |   | 231 |   |   |   | 1,412 |   |   |   | 694 |   |
| Foreign      currency translation adjustment            |   |                    | (1,119 | )      |                   |   | 4,799 |   |   |   | (19,643 | ) |   |   | 11,884 |   |
|                                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive      income (loss)                        |   | $                       | 2,201  |   |                   | $      | 12,959 |   |   | $ | (9,483 | ) |   | $ | 29,821 |   |

----

Table of Contents

|                                                  |   | Nine      Months Ended |    |
|-------------------------------------------------------|--------|------------------------|---------|
|                                                  |   | March      27,         |    |   | March      28, |   |
|                                                  |   | 2009                   |    |   | 2008 |   |
|                                                  |   |                   |    |   |   |   |
| Cash      flows from operating activities:            |   |                   |    |   |   |   |
| Net      earnings                                     |   | $                      | 8,748   |   |   | $ | 17,243 |   |
| Adjustments      to reconcile net earnings to         |   |                   |    |   |   |   |   |   |
| net      cash provided by operating activities:       |   |                   |    |   |   |   |   |   |
| Depreciation      and amortization                    |   |                   | 7,308   |   |   |   | 5,426 |   |
| Other      non-cash changes, net                      |   |                   | 417     |   |   |   | 2,391 |   |
| Net      change in working capital, excluding cash    |   |                   | (15,973 | ) |   |   | (13,908 | ) |
|                                                  |   |                   |    |   |   |   |   |   |
| Net      cash provided by operating activities        |   |                   | 500     |   |   |   | 11,152 |   |
|                                                  |   |                   |    |   |   |   |   |   |
| Cash      flows from investing activities:            |   |                   |    |   |   |   |   |   |
| Acquisitions      of fixed assets                     |   |                   | (6,631  | ) |   |   | (10,605 | ) |
| Proceeds      from sale of fixed assets               |   |                   | 56      |   |   |   | 263 |   |
| Other,      net                                       |   |                   | 1,111   |   |   |   | (337 | ) |
|                                                  |   |                   |    |   |   |   |   |   |
| Net      cash used by investing activities            |   |                   | (5,464  | ) |   |   | (10,679 | ) |
|                                                  |   |                   |    |   |   |   |   |   |
| Cash      flows from financing activities:            |   |                   |    |   |   |   |   |   |
| Increase      (decrease) in notes payable, net        |   |                   | 898     |   |   |   | (98 | ) |
| Proceeds      from long-term debt                     |   |                   | 7,939   |   |   |   | 12,880 |   |
| Proceeds      from exercise of stock options          |   |                   | 110     |   |   |   | 133 |   |
| Purchase      of treasury stock                       |   |                   | (1,813  | ) |   |   | (15,643 | ) |
| Dividends      paid                                   |   |                   | (2,333  | ) |   |   | (2,220 | ) |
| Other                                                 |   |                   | (252    | ) |   |   | 19 |   |
|                                                  |   |                   |    |   |   |   |   |   |
| Net      cash provided (used) by financing activities |   |                   | 4,549   |   |   |   | (4,929 | ) |
|                                                  |   |                   |    |   |   |   |   |   |
| Effect      of exchange rate changes on cash          |   |                   | (1,729  | ) |   |   | 1,888 |   |
|                                                  |   |                   |    |   |   |   |   |   |
| Net      change in cash                               |   |                   | (2,144  | ) |   |   | (2,568 | ) |
|                                                  |   |                   |    |   |   |   |   |   |
| Cash      balance:                                    |   |                   |    |   |   |   |   |   |
| Beginning      of period                              |   |                   | 14,447  |   |   |   | 19,508 |   |
|                                                  |   |                   |    |   |   |   |   |   |
| End      of period                                    |   | $                      | 12,303  |   |   | $ | 16,940 |   |

----

Table of Contents

| a)   | How      investment allocation decisions aremade; |
|----------------|---------------------------------------------------|

| b)   | The      major categories of planassets; |
|----------------|------------------------------------------|

----

Table of Contents

| c)   | The      inputs and valuation techniques used to measure the fair value of plan      assets; |
|----------------|----------------------------------------------------------------------------------------------|

| d)   | The      effect of fair value measurements using significant unobservable inputs on      changes in plan assets for the period;and |
|----------------|------------------------------------------------------------------------------------------------------------------------------------|

| e)   | Significant      concentrations of risk within planassets. |
|----------------|------------------------------------------------------------|

| ·   | Disclosure      of the objectives for using derivative instruments in terms of underlying      risk and accounting designation; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------|

| ·   | Disclosure      of the fair values of derivative instruments and their gains and losses in      a tabular format; |
|--------------------|-------------------------------------------------------------------------------------------------------------------|

| ·   | Disclosure      of information about credit-risk-related contingent features;      and |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | Cross-reference      from the derivative footnote to other footnotes in which      derivative-related information isdisclosed. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

|                 |   | March      27, |   |   | June      30, |   |
|----------------------|--------|----------------|--------|--------|---------------|--------|
|                 |   | 2009           |   |   | 2008          |   |
| Inventories:         |   |           |   |   |          |   |
| Finished      parts  |   | $              | 61,793 |   |          | $      | 53,697 |   |
| Work      in process |   |           | 12,174 |   |          |   | 20,725 |   |
| Raw      materials   |   |           | 23,939 |   |          |   | 23,269 |   |
|                 |   |           |   |   |          |   |   |   |
|                 |   | $              | 97,906 |   |          | $      | 97,691 |   |

----

Table of Contents

|                                      |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|-------------------------------------------|--------|-------------------------|--------|--------|------------------------|--------|
|                                      |   | Mar.      27,           |   |   | Mar.      28,          |   |   | Mar.      27, |   |   | Mar.      28, |   |
|                                      |   | 2009                    |   |   | 2008                   |   |   | 2009 |   |   | 2008 |   |
|                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Reserve      balance, beginning of period |   | $                       | 8,231  |   |                   | $      | 7,802 |   |   | $ | 8,125 |   |   | $ | 7,266 |   |
| Current      period expense               |   |                    | 2,068  |   |                   |   | 1,191 |   |   |   | 4,175 |   |   |   | 3,333 |   |
| Payments      or credits to customers     |   |                    | (2,372 | )      |                   |   | (1,151 | ) |   |   | (3,928 | ) |   |   | (3,089 | ) |
| Translation                               |   |                    | (161   | )      |                   |   | 279 |   |   |   | (606 | ) |   |   | 611 |   |
|                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Reserve      balance, end of period       |   | $                       | 7,766  |   |                   | $      | 8,121 |   |   | $ | 7,766 |   |   | $ | 8,121 |   |

|                                                 |   | Three      Months Ended |     |   | Nine      Months Ended |   |
|------------------------------------------------------|--------|-------------------------|----------|--------|------------------------|--------|
|                                                 |   | Mar.      27,           |     |   | Mar.      28,          |   |   | Mar.      27, |   |   | Mar.      28, |   |
|                                                 |   | 2009                    |     |   | 2008                   |   |   | 2009 |   |   | 2008 |   |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |
| Manufacturing      segment sales                     |   | $                       | 65,931   |   |                   | $      | 78,689 |   |   | $ | 201,308 |   |   | $ | 214,881 |   |
| Distribution      segment sales                      |   |                    | 25,741   |   |                   |   | 28,702 |   |   |   | 83,712 |   |   |   | 84,328 |   |
| Inter/Intra      segment elimination - manufacturing |   |                    | (16,738  | )      |                   |   | (16,014 | ) |   |   | (45,973 | ) |   |   | (44,469 | ) |
| Inter/Intra      segment elimination - distribution  |   |                    | (5,642   | )      |                   |   | (5,539 | ) |   |   | (15,485 | ) |   |   | (13,395 | ) |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      sales                                       |   | $                       | 69,292   |   |                   | $      | 85,838 |   |   | $ | 223,562 |   |   | $ | 241,345 |   |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Manufacturing      segment earnings                  |   | $                       | 3,165    |   |                   | $      | 9,033 |   |   | $ | 11,608 |   |   | $ | 25,849 |   |
| Distribution      segment earnings                   |   |                    | 1,531    |   |                   |   | 2,011 |   |   |   | 7,026 |   |   |   | 7,251 |   |
| Corporate      and eliminations                      |   |                    | (1,637   | )      |                   |   | (337 | ) |   |   | (6,175 | ) |   |   | (7,011 | ) |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      before income taxes                    |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| and      minority interest                           |   | $                       | 3,059    |   |                   | $      | 10,707 |   |   | $ | 12,459 |   |   | $ | 26,089 |   |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   | Mar.      27,           |     |   | June      30,          |   |   |   |   |   |   |   |   |   |
| Assets                                               |   | 2009                    |     |   | 2008                   |   |   |   |   |   |   |   |   |   |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Manufacturing      segment assets                    |   | $                       | 351,988  |   |                   | $      | 369,842 |   |   |   |   |   |   |   |   |   |
| Distribution      segment assets                     |   |                    | 66,268   |   |                   |   | 67,223 |   |   |   |   |   |   |   |   |   |
| Corporate      assets and elimination                |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| of      inter-company assets                         |   |                    | (139,251 | )      |                   |   | (132,437 | ) |   |   |   |   |   |   |   |   |
|                                                 |   |                    |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   | $                       | 279,005  |   |                   | $      | 304,628 |   |   |   |   |   |   |   |   |   |

----

Table of Contents

|                                       |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|--------------------------------------------|--------|-------------------------|--------|--------|------------------------|--------|
|                                       |   | Mar.      27,           |   |   | Mar.      28,          |   |   | Mar.      27, |   |   | Mar.      28, |   |
|                                       |   | 2009                    |   |   | 2008                   |   |   | 2009 |   |   | 2008 |   |
|                                       |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Pension      Benefits:                     |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Service      cost                          |   | $                       | 298    |   |                   | $      | 305 |   |   | $ | 885 |   |   | $ | 896 |   |
| Interest      cost                         |   |                    | 1,769  |   |                   |   | 1,738 |   |   |   | 5,296 |   |   |   | 5,190 |   |
| Expected      return on plan assets        |   |                    | (2,237 | )      |                   |   | (2,411 | ) |   |   | (6,698 | ) |   |   | (7,206 | ) |
| Amortization      of prior service cost    |   |                    | (180   | )      |                   |   | (180 | ) |   |   | (539 | ) |   |   | (539 | ) |
| Amortization      of transition obligation |   |                    | 17     |   |                   |   | 21 |   |   |   | 48 |   |   |   | 52 |   |
| Amortization      of net loss              |   |                    | 801    |   |                   |   | 428 |   |   |   | 2,402 |   |   |   | 1,282 |   |
| Net      periodic benefit cost (income)    |   | $                       | 468    |   |                   | $      | (99 | ) |   | $ | 1,394 |   |   | $ | (325 | ) |
|                                       |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Postretirement      Benefits:              |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Service      cost                          |   | $                       | 9      |   |                   | $      | 9 |   |   | $ | 28 |   |   | $ | 28 |   |
| Interest      cost                         |   |                    | 325    |   |                   |   | 341 |   |   |   | 973 |   |   |   | 1,025 |   |
| Amortization      of net loss              |   |                    | 137    |   |                   |   | 133 |   |   |   | 412 |   |   |   | 399 |   |
| Net      periodic benefit cost             |   | $                       | 471    |   |                   | $      | 483 |   |   | $ | 1,413 |   |   | $ | 1,452 |   |

----

| Balance      at June 30, 2008  |   | $      | 18,479 |   |
|--------------------------------|--------|--------|--------|--------|
| Translation      adjustment    |   |   | (1,828 | )      |
|                           |   |   |   |   |
| Balance      at March 27, 2009 |   | $      | 16,651 |   |

|                                      |   | March      27, |   |   | June      30, |   |
|-------------------------------------------|--------|----------------|--------|--------|---------------|--------|
|                                      |   | 2009           |   |   | 2008          |   |
| Intangible      assets with finite lives: |   |           |   |   |          |   |
| Licensing      agreements                 |   | $              | 3,015  |   |          | $      | 3,015 |   |
| Non-compete      agreements               |   |           | 2,050  |   |          |   | 2,050 |   |
| Other                                     |   |           | 5,991  |   |          |   | 5,991 |   |
|                                      |   |           |   |   |          |   |   |   |
|                                      |   |           | 11,056 |   |          |   | 11,056 |   |
| Accumulated      amortization             |   |           | (5,936 | )      |          |   | (5,176 | ) |
| Translation      adjustment               |   |           | 207    |   |          |   | 1,235 |   |
|                                      |   |           |   |   |          |   |   |   |
| Total                                     |   | $              | 5,327  |   |          | $      | 7,115 |   |

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| Fiscal      Year |    |   |
|------------------|---------|--------|
| 2009             | $  | 232    |
| 2010             |    | 724    |
| 2011             |    | 724    |
| 2012             |    | 724    |
| 2013             |    | 682    |
| 2014             |    | 682    |

|                                                    |   | March      27, |   |   | June      30, |   |
|---------------------------------------------------------|--------|----------------|--------|--------|---------------|--------|
|                                                    |   | 2009           |   |   | 2008          |   |
|                                                    |   |           |   |   |          |   |
| Revolving      loan                                     |   | $              | 28,300 |   |          | $      | 19,700 |   |
| 10-year      unsecured senior notes                     |   |           | 25,000 |   |          |   | 25,000 |   |
| Notes      payable                                      |   |           | -      |   |          |   | 1,010 |   |
| Other                                                   |   |           | 4,708  |   |          |   | 4,247 |   |
| Subtotal                                                |   |           | 58,008 |   |          |   | 49,957 |   |
| Less:      current maturities and short-term borrowings |   |           | (2,313 | )      |          |   | (1,730 | ) |
| Total      long-term debt                               |   | $              | 55,695 |   |          | $      | 48,227 |   |

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Management Discussion and Analysis

| (In      thousands)             |   |                    |   |   |                   |   |   |           |   |   |           |   |   |   |   |   |    |   |   |   |   |   |   |    |
|---------------------------------|--------|-------------------------|--------|--------|------------------------|--------|--------|----------------|--------|--------|----------------|--------|--------|--------|--------|--------|---------|--------|--------|--------|--------|--------|--------|---------|
|                            |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|                            |   | March      27,          |   |   | March      28,         |   |   | March      27, |   |   | March      28, |   |
|                            |   | 2009                    |   |   | %                      |   |   | 2008           |   |   | %              |   |   | 2009   |   |   | %       |   |   | 2008   |   |   | %      |    |
|                            |   |                    |   |   |                   |   |   |           |   |   |           |   |   |   |   |   |    |   |   |   |   |   |   |    |
| Net      sales                  |   | $                       | 69,292 |   |                   |   |   |           | $      | 85,838 |           |   |   |   |   | $      | 223,562 |   |   |   |   |   | $      | 241,345 |   |   |   |   |
| Cost      of goods sold         |   |                    | 50,141 |   |                   |   |   |           |   | 59,211 |           |   |   |   |   |   | 161,386 |   |   |   |   |   |   | 165,522 |   |   |   |   |
|                            |   |                    |   |   |                   |   |   |           |   |   |           |   |   |   |   |   |    |   |   |   |   |   |   |    |   |   |   |   |
| Gross      profit               |   |                    | 19,151 |   |                   |   | 27.6   | %              |   |   | 26,627         |   |   |   | 31.0   | %      |    |   | 62,176 |   |   |   | 27.8   | %       |   |   | 75,823 |   |   |   | 31.4 | % |
|                            |   |                    |   |   |                   |   |   |           |   |   |           |   |   |   |   |   |    |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |
| Marketing,      engineering and |   |                    |   |   |                   |   |   |           |   |   |           |   |   |   |   |   |    |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |
| administrative      expenses    |   |                    | 14,517 |   |                   |   | 21.0   |           |   |   | 14,969         |   |   |   | 17.4   |   |    |   | 47,843 |   |   |   | 21.4   |    |   |   | 47,041 |   |   |   | 19.5 |   |
|                            |   |                    |   |   |                   |   |   |           |   |   |           |   |   |   |   |   |    |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |
| Earnings      from operations   |   | $                       | 4,634  |   |                   |   | 6.7    |           |   | $      | 11,658         |   |   |   | 13.6   |   |    | $      | 14,333 |   |   |   | 6.4    |    |   | $ | 28,782 |   |   |   | 11.9 |   |

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|   Contractual      Obligations |   Total |  Less      than1      year |  1-3Years |  3-5Years |  After      5Years |
|------------------------------------------|-------------------|---------------------------------|----------------|----------------|-------------------------|
|  Short-term      borrowing          |  $1,652      |  $1,652                    |           |           |                    |
|  Revolver      borrowing            |  $28,300     |                            |  $28,300  |           |                    |
|  Long-term      debt                |  $28,056     |  $661                      |  $4,421   |  $8,584   |  $14,390           |
|  Operating      leases              |  $12,992     |  $3,250                    |  $5,812   |  $3,637   |  $293              |
|  Total      obligations             |  $71,000     |  $5,563                    |  $38,533  |  $12,221  |  $14,683           |

| a)   | How      investment allocation decisions aremade; |
|----------------|---------------------------------------------------|

| b)   | The      major categories of plan assets; |
|----------------|-------------------------------------------|

| c)   | The      inputs and valuation techniques used to measure the fair value of plan      assets; |
|----------------|----------------------------------------------------------------------------------------------|

| d)   | The      effect of fair value measurements using significant unobservable inputs on      changes in plan assets for the period;and |
|----------------|------------------------------------------------------------------------------------------------------------------------------------|

| e)   | Significant      concentrations of risk within planassets. |
|----------------|------------------------------------------------------------|

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| ·   | Disclosure      of the objectives for using derivative instruments in terms of underlying      risk and accounting designation; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------|

| ·   | Disclosure      of the fair values of derivative instruments and their gains and losses in      a tabular format; |
|--------------------|-------------------------------------------------------------------------------------------------------------------|

| ·   | Disclosure      of information about credit-risk-related contingent features;      and |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | Cross-reference      from the derivative footnote to other footnotes in which      derivative-related information isdisclosed. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Discount rate – based      on Moody’s AA Corporate Bond rate, with appropriate consideration of      pension plans’ participants’ demographics and benefit payment      terms. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Expected Return on Plan      Assets – based on the expected long-term average rate of return on      assets in the pension funds, which is reflective of the current and      projected asset mix of the funds and considers historical returns earned      on the funds. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Compensation Increase –      reflect the long-term actual experience, the near-term outlook and assumed      inflation. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------|

| ·   | Retirement and Mortality      Rates – based upon the Generational Mortality Table for fiscal 2008      and the UP 1994 Mortality Table for all prior years    presented. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Health Care Cost Trend      Rates – developed based upon historical cost data, near-term      outlook and an assessment of likely long-term  trends. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Quantitative and Qualitative Disclosure About MarketRisk

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Controls and Procedures

Legal Proceedings

   Risk Factors

Unregistered Sales of Equity Securities and Use ofProceeds

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| Period                                                    | (a)      Total Number of Shares Purchased | (b)      Average Price Paid per Share | (c)      Total Number of Shares Purchased as Part of Publicly Announced Plans or      Programs | (d)      Maximum Number of Shares that May Yet Be Purchased Under the Plans or      Programs |
|-----------------------------------------------------------|-------------------------------------------|---------------------------------------|------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------|
|                                                      |                                      |                                  |                                                                                           |                                                                                         |
| December      27, 2008 – January 30, 2009           | 0                                         | NA                                    | 0                                                                                              | 250,000                                                                                      |
|                                                      |                                      |                                  |                                                                                           |                                                                                         |
| January      31, 2009 – February 27, 2009 | 0                                         | NA                                    | 0                                                                                              | 250,000                                                                                      |
|                                                      |                                      |                                  |                                                                                           |                                                                                         |
| February      28, 2009 – March 27, 2009             | 0                                         | NA                                    | 0                                                                                              | 250,000                                                                                      |
|                                                      |                                      |                                  |                                                                                           |                                                                                         |
| Total                                                     | 0                                         |                                  | 0                                                                                              |                                                                                         |

Defaults Upon Senior Securities

Submission of Matters to a Vote of SecurityHolders

 Other Information

Exhibits

| 31a | Certification      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 31b | Certification      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 32a | Certification      of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley      Act of 2002. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 32b | Certification      of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley      Act of 2002. |
|-----|---------------------------------------------------------------------------------------------------------------|

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SIGNATURE

|                              | TWIN      DISC, INCORPORATED  |
|-----------------------------------|-------------------------------|
|                              | (Registrant)                  |
|                              |                          |
|                              |                          |
| Date:  May      6, 2009 | /s/ JEFFREY S.      KNUTSON   |
|                              | Jeffrey      S. Knutson       |
|                              | Corporate      Controller     |
|                              | Chief      Accounting Officer |

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