<PAGE>   1

                    U.S. SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C.  20549

                                  FORM 10-KSB

[X]      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934 (FEE REQUIRED]

                  For the fiscal year ended December 31, 1995

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934 [NO FEE REQUIRED]

    For the transition period from                    to 
                                   ------------------    ------------------

                         Commission file number 0-3555

                               DAVID WHITE, INC.
                               -----------------
                 (Name of small business issuer in its charter)

                          
                          
         Wisconsin                                          39-0967642
         ---------                                          ----------
(State or other jurisdiction                     (I.R.S. Employer Identification
of incorporation or organization)                No.)

         11711 River Lane
         P.O. Box 1007
         Germantown, Wisconsin                                      53022-8207
         ---------------------                                      ----------
(Address of principal executive                                     (Zip Code)
offices)

Issuer's telephone number: (414) 251-8100

Securities registered under Section 12(b) of the Exchange Act: None

Securities registered under Section 12(g) of the Exchange Act:

                         Common Stock, $3.00 par value
                         -----------------------------
                                (Title of class)

                          Common Stock Purchase Rights
                          ----------------------------
                                (Title of class)

         Check whether the issuer (l) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes [X]   No [ ]

         Check if there is no disclosure of delinquent filers in response to
Item 405 of Regulation S-B is not contained in this form, and no disclosure
will be contained, to the best of registrant's knowledge, in definitive proxy
or information statements incorporated by reference in Part III of this Form
10-KSB or any amendment to this Form 10-KSB.  [X]

         State issuer's revenues for its most recent fiscal year: $ 15,278,000.

         State the aggregate market value of the voting stock held by
non-affiliates computed by reference to the price at which the stock was sold,
or the average bid and asked prices of such stock, a and no disclosure will be
contained, to the best registrant's knowledge, in definitive proxy or

<PAGE>   2
information statements incorporated by reference in Part III of this Form
10-KSB or any amendment to this Form 10-KSB. [X]

         State issuer's revenues for its most recent fiscal year: $ 15,278,000.
        
         State the aggregate market value of the voting stock held by
non-affiliates computed by reference to the price at which the stock was sold,
or the average bid and asked prices of such stock, as of a specified date
within the past 60 days.  (See definition of affiliate in Rule 12b-2 of the
Exchange Act.)  $3,720,472 as of January 31, 1996.

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of March 1, 1996: 457,323.



                      DOCUMENTS INCORPORATED BY REFERENCE

         Portions of the following documents are incorporated herein by
         reference:

         1995 Annual Report to Shareholders (Parts I and II, to the extent
         indicated therein).

         Proxy Statement for 1996 annual meeting of shareholders (previously
         filed with the Commission under Regulation 14A and hereby incorporated
         by reference into Part III, to the extent indicated therein).

         Transitional Small Business Disclosure Format (check one) Yes [ ]  
         No [X]
                                                                         

<PAGE>   3

                                     PART I

Item l.  Business.

                                    GENERAL

         Founded in 1900, David White, Inc., a Wisconsin corporation with its
principal executive offices located in Germantown, Wisconsin (the "Company"),
is a manufacturer and distributor of medium and high technology products in the
specialty market of optical and laser surveying instruments for productivity
improvement in the construction industry.

                            DESCRIPTION OF BUSINESS

         Prior to June 1989, the Company was divided into two product
divisions, David White Instruments and Micrographic Systems, in addition to an
International Division which handled international marketing and sales for both
product divisions.  The Company effected two significant organizational changes
to its business in 1989.  First, on June 30, 1989, the Company purchased 90% of
the outstanding capital stock of Ammann Lasertechnik, AG ("Ammann"), a Swiss
corporation.  Second, on October 4, 1989, the Company sold its Micrographic
Systems Division.

         On June 6, 1995, the Company entered into an agreement with HRA
Holding Company ("HRA"), Hans-Rudolf Ammann ("Mr. Ammann") and Thomas Ammann
pursuant to which the Company sold all of its interest in Ammann to HRA.  HRA
is a Swiss entity owned and controlled by Mr. Ammann.  In exchange for the sale
of its Ammann stock, the Company received 70,500 shares of Company stock
formerly owned by Mr. Ammann and Thomas Ammann, as well as $300,000 (U.S.) in
cash and cash equivalents.  In connection with the transaction, the Company
also entered into a Reciprocal Supply Agreement and Technology Transfer
Agreement with Ammann.  Under the Reciprocal Supply Agreement, Ammann agreed to
supply its products to the Company for two years for distribution in connection
with the Company's business, and the Company agreed to supply its products to
Ammann for two years for distribution in connection with Ammann's business.
Under the Technology Transfer Agreement, Ammann assigned certain patent rights
to the Company (valued at $200,000), and the Company granted Ammann a
non-exclusive license to make, use and sell products covered by the patents.
Ammann agreed to pay the Company a royalty of $25,000 per year for ten years in
consideration of the license.

         The Company's business is now concentrated primarily in the
development, production and marketing of David White surveying instruments,
including those surveying instruments covered by the patents transferred to the
Company from Ammann.  The Company also concentrates on producing and marketing
Ammann products under the Reciprocal Supply Agreement with Ammann.

         David White Instruments .  The Company's surveying instruments can be
divided generally into two categories: conventional optical survey instruments 
and laser surveying instruments.

         The Company's conventional optical surveying instruments include
levels, level/transits, automatic levels and level/transits, hand levels, rods,
targets, plumb bobs, tripods and other precision





<PAGE>   4

tools used by builders, contractors, engineers, farmers, plumbers and others.
The Company entered the laser surveying instrument field in 1981 through the
acquisition of a manufacturer of rotating laser beam electronic levels.  The
Company's laser and electronic surveying instruments consist primarily of
infrared invisible laser beam and visible laser beam electronic levels and
ancillary equipment primarily for builders and contractors.

         The Company's conventional surveying instruments, along with its laser
surveying instruments, are principally marketed under the "David White" trade
name.  The Company's products are sold on a nonexclusive basis through
approximately 600 distributors throughout the world.  The Company has entered
into certain marketing and cross-distribution arrangements for the sale of the
Company's laser products in Japan, the Pacific Rim, Asia and other areas.  The
Company has also entered into additional marketing and distribution
arrangements with other companies in Europe and is investigating the 
feasibility of other international strategic marketing alliances.  The supply 
and technology transfer agreements with Ammann and the marketing arrangements 
with foreign companies reflect the Company's increasing global emphasis.

         Pursuant to General Instruction E to Form 10-KSB ("Instruction E"),
information regarding the status of publicly announced new products is hereby
incorporated by reference from the information set forth on pages 1 and 2 of
the Company's 1995 Annual Report to Shareholders ("Annual Report").

         Ammann.  The Ammann product line consists of five laser surveying
instruments, including several products designed to meet the specific
requirements of both the light and the heavy construction industry.  Ammann
continues to market both David White and Ammann products abroad through the
companies' distribution networks and marketing arrangements with other
companies.  The manufacturing and assembly of two Ammann laser instruments
continues to take place at the Company's Berlin, Wisconsin plant.

                                  COMPETITION

         The Company experiences intense competition from numerous domestic and
foreign producers.  Some of the Company's competitors are significantly larger
than the Company and have substantially greater financial resources.  The
Company expects that it will continue to encounter highly competitive
conditions both domestically and internationally.

         The Company attempts to maintain its competitive posture through
quality control, pricing strategies and an on-going program of product
improvement, new product development and increased manufacturing efficiencies.
The Company believes that its research and development team, well-developed
distribution network, marketing arrangements, established David White trade
name, reputation for quality products and ability to manufacture and market
both optical and laser surveying instruments, provide it with certain market
advantages over its competitors in the surveying equipment industry.


                              CERTAIN CREDIT TERMS





<PAGE>   5


         Customers of the Company who place their orders for optical and laser
instruments between November l and February 28 of each year and are considered
creditworthy are extended payment terms of one-third on May l, one-third on
June l and one-third on July l.  European product sales are not included in the
foregoing credit programs.

                                  SEASONALITY

         Because distributors, suppliers and end users of surveying instruments
generally place their orders for delivery prior to or during the spring and
summer construction season, third quarter sales are traditionally lower than
sales for other quarters.  The Company's sales are also partially dependent
upon the growth and success of the construction industry.  Interest rates may
also impact this industry.  Construction industry expenditures are subject to
variation and have been affected during recent years by recessionary cycles.

           PATENTS AND ENGINEERING: RESEARCH AND PRODUCT DEVELOPMENT

         The Company places considerable emphasis on the optical, mechanical
and electromechanical design of its products.  Most of the Company's key
products have been designed by the Company, and the Company's Technology
Transfer Agreement with Ammann granted the Company patent rights with respect
to two products that were originally designed by Ammann.  Although a number of
the Company's products are covered by patents and patent applications, its
business is not materially dependent on them.

         In 1995, the Company employed four individuals in research and
development and expended $399,000 for this activity, compared to $558,000 in
1994.  The Company has budgeted $333,000 for research and development during
1996.

                            ENVIRONMENTAL REGULATION

         On October 23, 1995, the Company entered into an agreement with the
State of Wisconsin to settle a claim that the Company violated state
regulations concerning the operation of an underground storage tank on the
Company's Berlin, Wisconsin property.  Pursuant to that agreement, the Company
paid a $25,000 forfeiture to the State of Wisconsin.  The Company has also
agreed to clean up contamination caused by leakage from the tank.  The Company
reserved $200,000 in the fourth quarter of 1995 for the clean-up, which the 
Company believes will be sufficient to cover any material expenses in the 
future.

         Apart from the foregoing, the Company does not expect foreign,
federal, state or local environmental legislation to have a material effect on
its capital expenditures, earnings or competitive position.

                                 RAW MATERIALS

         Principal raw materials used by the Company in its manufacturing
operations are a variety of electronic components, die castings, molded
plastics, various metals and optical components.  All of





<PAGE>   6

such raw materials are available to the Company from several suppliers.

                                   EMPLOYEES

         The Company employs approximately 145 full time people, approximately
two-thirds of whom are in production.  The balance are employed in executive,
administrative, engineering, sales and clerical capacities.

Item 2.  Properties.

         The following table summarizes the Company's principal properties:

<TABLE>
<CAPTION>
                                                                    Owned     Year    Approx-
                                                                      or     Lease    imate
Location                  Use                                       Leased   Expires  Sq. Ft. 
--------                  ---                                       ------   -------  --------
<S>              <C>                                               <C>       <C>     <C>
Germantown,      Executive Offices,                                 Owned    ------   12,800
Wisconsin                 Marketing, Advertising,
                          Finance, Service
                          Department

Berlin,          Manufacture of Optical                             Owned    ------  105,000
Wisconsin                 and Electronic
                          Surveying Products,
                          Research and Development
                          and Design Engineering
</TABLE>

         The Company believes its current facilities are suitable, adequate and
provide sufficient capacity to support current operations.  No present plans
exist for the improvement or further development of any of the properties.  In
the opinion of the Company's management, the properties are adequately covered
by insurance.

         The Germantown, Wisconsin and Berlin, Wisconsin properties are owned
by the Company and are currently subject to a first mortgage as security for a
$2,500,000 term note through Firstar Bank Fond du Lac (the "Bank") to the
Company.  The term note is 70% guaranteed by Farmers Home Administration.  The
Germantown and Berlin properties are also currently subject to a second
mortgage as security for the Bank's revolving line of credit to the Company,
which is adjusted periodically according to seasonal requirements and ranges
from $1,750,000 to $3,000,000.  Pursuant to Instruction E, information
regarding the Company's term note and line of credit required by this item is
incorporated herein by reference from the information set forth in Note 3 to
the Company's Consolidated Financial Statements, set forth on page 6 of the
Annual Report.  As of January 31, 1996, the outstanding balance on the term
note was $2,124,000, and the outstanding balance under the line of credit was
$1,434,000.

         The federal tax basis of the land and buildings at the Germantown and
Berlin, Wisconsin





<PAGE>   7

locations are $65,000 and $466,000, and $36,000 and $398,000, respectively.
Depreciation is taken by the Company over the estimated useful life of the
buildings using the straight line method.  For purposes of depreciation, the
remaining lives claimed with respect to the Germantown and Berlin properties
are 25 and 4 years, respectively.  For 1995, the Company has paid or will pay
annual realty taxes on the Germantown and Berlin, Wisconsin properties in the
amount of $20,000 and $30,000, respectively.

Item 3.  Legal Proceedings.

         The Company is not currently a party, nor are any of its properties
subject, to any legal proceeding required to be disclosed under this Item.  No
such proceedings were terminated during the fourth quarter of 1995.

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

         Not applicable.

                       Executive Officers of the Company

         Each of the current executive officers of the Company is identified
below together with information about each such officer's age, current position
with the Company and employment history for the past five years:

<TABLE>
<CAPTION>
Name                                       Position                                                   Age
----                                       --------                                                   ---
<S>                               <C>                                                                <C> 
Tony L. Mihalovich                President, Chief Executive                                          48
                                            Officer

James L. Younk                    Chief Financial Officer,
                                            Vice President - Finance,
                                            Secretary, Treasurer                                      53

Larry P. Hutzler                  Vice President-Manufacturing                                        54

Stephen M. Smith                  Vice President - Sales and                                          46
                                           Marketing
</TABLE>

         Mr. Mihalovich was elected as President and Chief Executive Officer on
November 16, 1992, following the resignation of E. Gustav Malm, which was
effective October 9, 1992.  Prior to that time, Mr. Mihalovich served as
Executive Vice President and Chief Operating Officer from October 1989, and
served as Vice President -Finance from January 1983.  During January, 1992, Mr.
Mihalovich also assumed responsibilities as Director of Manufacturing
Operations.  Mr. Mihalovich also acted as Secretary from January 1992 until May
1993.

         Mr. Younk was elected Vice President of Finance on February 1, 1995.
Mr, Younk was





<PAGE>   8

appointed Chief Financial Officer on December 17, 1992, in addition to his
position as Treasurer.  Mr. Younk was elected as Secretary on May 4, 1993.  Mr.
Younk, prior to his election as Treasurer in January 1988, served as the
Company's Controller since January 1972.

         Mr. Hutzler was elected Vice President of Manufacturing on May 3,
1994.  Prior to that, Mr. Hutzler held the position of Plant Manager since
October, 1992.  Mr. Hutzler also served as Director-Labor Relations and Human
Resources since August, 1973.

         Mr. Smith was elected Vice President of Sales and Marketing on
February 1, 1995.  Mr. Smith joined the Company as its National Sales Manager
in November, 1991, prior to which he was a sales manager at Western Plow.  Mr.
Smith also served as Director-Sales & Marketing since January, 1993.

         The executive officers of the Company are elected annually by the
Board of Directors at the Board's annual meeting held on the same date as the
Company's annual meeting of stockholders.  Each executive officer holds office
until his successor has been duly elected and qualified or until his earlier
death, resignation or removal.





<PAGE>   9

                                    PART II

Item 5.  Market for the Company's Common Stock and Related Stockholder Matters.

Pursuant to Instruction E, the information required by this Item is hereby
incorporated herein by reference from the information set forth on page 9 of
the Annual Report.

Item 6.  Management's Discussion and Analysis or Plan of Operation.

         Pursuant to Instruction E, the information required by this item is
hereby incorporated herein by reference from the information set forth on page
9 of the Annual Report.

Item 7.  Financial Statements.

         Pursuant to Instruction E, the Consolidated Balance Sheet of the
Company as of December 31, 1995, and the Consolidated Statements of Operations,
Stockholders' Investment and Cash Flows for the years ended December 31, 1995
and 1994, together with the related notes thereto are hereby incorporated
herein by reference from the information set forth on pages 3 through 8 of the
Annual Report.

Item 8.  Changes in and Disagreements with Accountants on Accounting and
         Financial Disclosure.
        
         None.

                                    PART III

Item 9.  Directors and Executive Officers of the Company; Compliance with
         Section 16(a) of the Exchange Act.

         Pursuant to Instruction E, the information required by this Item with
respect to directors is hereby incorporated herein by reference from the
information set forth under the caption "Election of Directors" set forth in
the Company's definitive Proxy Statement for its 1996 annual meeting of
shareholders previously filed with the Commission under Regulation 14A ("Proxy
Statement").  The required information with respect to executive officers
appears at the end of Part I of this Form 10-KSB.  The required information
with respect to Section 16(a) compliance is set forth under the caption
"Compliance with Section 16(a) of the Securities Exchange Act of 1934" set
forth in the Company's Proxy Statement.

Item 10.         Executive Compensation.

         Pursuant to Instruction E, the information required by this Item is
hereby incorporated herein by reference from the information set forth under
the caption "Compensation of Executive Officers" set forth in the Proxy
Statement.


<PAGE>   10

Item 11.         Security Ownership of Certain Beneficial Owners and
                 Management.

         Pursuant to Instruction E, the information required by this Item is
hereby incorporated herein by reference from the information set forth under
the caption "Election of Directors" and "Principal Shareholders" set forth in
the Proxy Statement.

Item 12.         Certain Relationships and Related Transactions.

Sales by the Company to its foreign affiliates, including Ammann Lasertechnik
GmbH (a joint venture between the Company's former Swiss subsidiary, Ammann,
and Konrad Bachmaier of Germany), during 1995 aggregated $1,601,000.

Item 13.         Exhibits and Reports on Form 8-K.

         (a)     The following documents are filed as a part of this report:

<TABLE>
<CAPTION>
                                                                                     Page Reference
                                                                                     --------------

                                                                                                  1995
                                                                                              Annual Report
                                                                               1995                to
                                                                             Form 10-KSB      Shareholders 
                                                                             -----------      -------------
<S>      <C>                                                                 <C>               <C>
l.       Financial Statements.
         -------------------- 

         Consolidated Balance Sheet at                                       ---                    3
         December 31, 1995

         For the years ended December 31, 1995,
         and 1994:

                 Consolidated Statements of
                 Operations                                                  ---                    4

                 Consolidated Statements of
                 Stockholders' Investment                                    ---                    4

                 Consolidated Statements of
                 Cash Flows                                                  ---                    5

                 Notes to Consolidated Financial
                 Statements                                                  ---                   6-8

         Independent Auditors' Report                                        ---                    9
</TABLE>





<PAGE>   11


2.       Exhibits.

         3.1    Restated Articles of Incorporation [Incorporated by reference to
                Exhibit 3 to the Company's Form 8-K dated May 8, 1992]

         3.2    By-Laws, as amended through February 22, 1996

         4.1    Rights Agreement, dated as of August 29, 1988, between Company
                and First Wisconsin Trust Company, as Rights Agent [Incorporated
                by reference to Exhibit 4 to the Company's Form 8-K dated
                September 15, 1988]

         4.2    Amendment to Rights Agreement, dated as of November 9, 1988,
                between Company and First Wisconsin Trust Company, as Rights
                Agent [Incorporated by reference to Exhibit 4.1 to the Company's
                Form 8-K dated November 10, 1988]

         4.3    Amendment No. 2 to Rights Agreement dated as of June 30, 1989
                between the Company and First Wisconsin Trust Company, as Rights
                Agent [Incorporated by reference to Exhibit 4.2 to the Company's
                Form 8-K dated June 30, 1989]

         4.4    Amendment No. 3 to Rights Agreement dated as of January 22,
                1992, between the Company and First Wisconsin Trust Company, as
                Rights Agent [Incorporated by reference to Exhibit 4.3 to the
                Company's Form 8-K dated February 7, 1992]

         10.1   Amended and Restated 1981 Stock Option Plan [Incorporated by
                reference to Exhibit 10.4 to the Company's Form 10-K for the
                year ended December 31, 1988] *

         10.2   Form of 1981 Incentive Stock Option Agreement, as amended
                [Incorporated by reference to Exhibit 10.5 to the Company's Form
                10-K for the year ended December 31, 1988]*

         10.3   Form of Amendment to 1981 Incentive Stock Option Agreement
                [Incorporated by reference to Exhibit 10.6 to the Company's Form
                10-K for the year ended December 31, 1988]*

         10.4   Form of Key Executive Employment and Severance Agreement, dated
                as of January 25, 1990, entered into between the Company and
                each of the following: Tony L. Mihalovich, Ronald J. Jansen,
                James L. Younk, E. Gustav Malm, Larry Clark, Walker J. Young and
                Robert L. Underberg [Incorporated by reference to Exhibit 10.4
                to the Company's Form 10-K for the year ended December 31,
                1992]*

         10.5   Employment Agreement, dated as of January 1, 1994, between the
                Company and Tony L. Mihalovich [Incorporated by reference to
                Exhibit 10.5 of the Company's Form 10-KSB for the year ended
                December 31, 1993, as amended by Form 8 dated April 20, 1994]*

         10.6   Amendment to Employment Agreement, dated as of December 5, 1995,
                between the





----------------------------------
     * management contract or compensatory plan or arrangement.

<PAGE>   12

                 Company and Tony L. Mihalovich*

         10.7    Stock Option Agreement, dated as of January 1, 1994, between
                 the Company and Tony L. Mihalovich. [Incorporated by reference
                 to Exhibit 10.6 at the Company's Form 10-KSB for the year ended
                 December 31, 1993]*

         10.8    Amendment to Stock Option Agreement, dated as of December 5,
                 1995, between the Company and Tony L. Mihalovich*

         10.9    Stock Option Agreement, dated as of January 11, 1990, between
                 Company and R. Ron Heiligenstein [Incorporated by reference to
                 Exhibit 10.11 to the Company's Form 10-K for the year ended
                 December 31, 1989]*

         10.10   Form of Indemnity Agreement, dated as of January 24, 1990,
                 entered into between the Company and each of the following:
                 Charles D. Jacobus, Hans-Rudolf Ammann, E. Gustav Malm, R. Ron
                 Heiligenstein, Marshall A. Loewi, Michael S. Ariens and
                 Richard H.  Bromley [Incorporated by reference to Exhibit
                 10.12 to the Company's Form 10-K for the year ended December
                 31, 1989]

         10.11   1992 Stock Option Plan [Incorporated by reference to Exhibit
                 10.9 to the Company's Form 10-K for the year ended December
                 31, 1992]*

         10.12   Form of 1992 Incentive Stock Option Agreement [Incorporated by
                 reference to Exhibit 10.10 to the Company's Form 10-K for the
                 year ended December 31, 1992]*

         10.13   1995 Stock Option Plan [Incorporated by reference to Exhibit
                 10.11 to the Company's Form 10-QSB for the end of the second
                 quarter of 1995]*

         10.14   Stock Purchase Agreement, dated as of May 31, 1995, entered
                 into between the Company and Hans-Rudolf Ammann, Jolanda
                 Ammann, Konrad Bachmaier and Thomas Ammann [Incorporated by
                 reference to Exhibit 10.12 to the Company's Form 10-QSB for
                 the end of the second quarter of 1995]

         10.15   License Agreement, dated as of May 31, 1995, entered into
                 between the Company and Ammann Lasertechnik, AG [Incorporated
                 by reference to Exhibit 10.13 to the Company's Form 10-QSB for
                 the end of the second quarter of 1995]

         10.16   Ammann Lasertechnik AG Supply Agreement, dated as of May 31,
                 1995, entered into between the Company and Ammann
                 Lasertechnik, AG  [Incorporated by reference to Exhibit 10.14
                 to the Company's Form 10-QSB for the end of the second quarter
                 of 1995]**

         10.17   David White, Inc. Supply Agreement, dated as of May 31, 1995,
                 entered into between the Company





----------------------------------
     *   management contract or compensatory plan or arrangement.

     **  Certain information in this Exhibit was omitted pursuant  to a request
         for confidential treatment.  The information and the request were
         separately filed with the Commission.


<PAGE>   13

                 and Ammann Lasertechnik, AG   [Incorporated by reference to
                 Exhibit 10.15 to the Company's Form 10-QSB for the end of the
                 second quarter of 1995]**

         10.18   Transfer and Assignment Agreement, dated as of May 31, 1995,
                 entered into between the Company and Ammann Lasertechnik, AG
                 [Incorporated by reference to Exhibit 10.16 to the Company's
                 Form 10-QSB for the end of the second quarter of 1995]

         10.19   Pledge Agreement, dated as of May 31, 1995, entered into
                 between the Company and Hans-Rudolf Ammann, Jolanda Ammann,
                 Konrad Bachmaier and Thomas Ammann [Incorporated by reference
                 to Exhibit 10.17 to the Company's Form 10-QSB for the end of
                 the second quarter of 1995]

         10.20   Summary [English Translation] of German Joint Venture Ammann
                 Lasertechnik GmbH, March 1991 [Incorporated by reference to
                 Exhibit 10.8 to the Company's Form 10-K for the year ended
                 December 31, 1991]

         13      1995 Annual Report to Shareholders [Except to the extent
                 expressly incorporated herein by reference, this 1995 Annual
                 Report to Shareholders shall not be deemed "filed" with the
                 Securities and Exchange Commission as part of this Form 10-KSB]

         21      Subsidiary of the Company

         27      Financial Data Schedule

         28      Proxy Statement for 1996 Annual Meeting of Shareholders
                 [Previously filed with the Securities and Exchange Commission
                 under Regulation 14A and incorporated by reference in this Form
                 10-KSB to the extent indicated herein]

         (b)     No reports on Form 8-K were filed by the Company with the
Securities and Exchange Commission during the fourth quarter of 1995.





<PAGE>   14

                                   SIGNATURES


         In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                                        DAVID WHITE, INC.


Date:   3/28/96                            By:  /s/ Tony L. Mihalovich    
                                              ---------------------------------
                                                     Tony L. Mihalovich,
                                                     President, Chief Executive
                                                     Officer, Director


Date:   3/28/96                            By:  /s/ James L. Younk
                                              ---------------------------------
                                                     James L. Younk, Treasurer,
                                                     Chief Financial Officer

         In accordance with the Exchange Act, this report has been signed below
by the following persons on behalf of the Registrant and in the capacities and
on the dates indicated.


Date:   3/28/96                            By:  /s/ Michael S. Ariens     
                                              ---------------------------------
                                                     Michael S. Ariens,
                                                     Director


Date:   3/28/96                            By:  /s/ R. Ron Heiligenstein  
                                              ---------------------------------
                                                     R. Ron Heiligenstein,
                                                     Director


Date:   3/28/96                            By:  /s/ Charles D. Jacobus    
                                              ---------------------------------
                                                     Charles D. Jacobus,
                                                     Director

Date:   3/28/96                            By:  /s/ Marshall A. Loewi     
                                              ---------------------------------
                                                     Marshall A. Loewi,
                                                     Director





<PAGE>   15

                                 EXHIBIT INDEX

<TABLE>
<CAPTION>
                                                                                                                        SEQUENTIAL
         DESCRIPTION                                                                                                     PAGE NO. 
         -----------                                                                                                    ---------
<S>      <C>                                                                                                                 <C>
3.1      Restated Articles of Incorporation [Incorporated by reference to Exhibit 3 to the Company's Form 8-K dated    
         May 8, 1992]                                                                                                        N/A
                                                                                                                       
3.2      By-Laws, as amended through February 22, 1996                                                                        18
                                                                                                                       
4.1      Rights Agreement, dated as of August 29, 1988, between Company and First Wisconsin Trust Company, as Rights   
         Agent [Incorporated by reference to Exhibit 4 to the Company's Form 8-K dated September 15, 1988]                   N/A
                                                                                                                       
4.2      Amendment to Rights Agreement, dated as of November 9, 1988, between Company and First Wisconsin Trust        
         Company, as Rights Agent [Incorporated by reference to Exhibit 4.1 to the Company's Form 8-K dated November   
         10, 1988]                                                                                                           N/A
                                                                                                                       
4.3      Amendment No. 2 to Rights Agreement dated as of June 30, 1989 between the Company and First Wisconsin Trust   
         Company, as Rights Agent [Incorporated by reference to Exhibit 4.2 to the Company's Form 8-K dated June 30,   
         1989]                                                                                                               N/A
                                                                                                                       
4.4      Amendment No. 3 to Rights Agreement dated as of January 22, 1992, between the Company and First Wisconsin     
         Trust Company, as Rights Agent [Incorporated by reference to Exhibit 4.3 to the Company's Form 8-K dated      
         February 7, 1992]                                                                                                   N/A
                                                                                                                       
10.1     Amended and Restated 1981 Stock Option Plan [Incorporated by reference to Exhibit 10.4 to the Company's Form  
         10-K for the year ended December 31, 1988]*                                                                         N/A
                                                                                                                       
10.2     Form of 1981 Incentive Stock Option Agreement, as amended [Incorporated by reference to Exhibit 10.5 to the   
         Company's Form 10-K for the year ended December 31, 1988]*                                                          N/A
                                                                                                                       
10.3     Form of Amendment to 1981 Incentive Stock Option Agreement  [Incorporated by reference to Exhibit 10.6 to the 
         Company's Form 10-K for the year ended December 31, 1988]*                                                          N/A
                                                                                                                       
10.4     Form of Key Executive Employment and Severance Agreement, dated as of January 25, 1990, entered into between  
         the Company and each of the following: Tony L. Mihalovich, Ronald J. Jansen, James L. Younk, E. Gustav Malm,  
         Larry Clark, Walker J. Young and Robert L. Underberg [Incorporated by reference to Exhibit 10.4 to the        
</TABLE>

----------------------------------
     * management contract or compensatory plan or arrangement.

                                      E-1
<PAGE>   16

<TABLE>
<S>      <C>                                                                                                              <C>
         Company's Form 10-K for the year ended December 31, 1992]*                                                         N/A
                                                                                                                         
10.5     Employment Agreement, dated as of January 1, 1994, between the Company and Tony L. Mihalovich  [Incorporated    
         by reference to Exhibit 10.5 of the Company's Form 10-KSB for the year ended December 31, 1993, as amended by   
         Form 8 dated April 20, 1994]*                                                                                      N/A
                                                                                                                         
10.6     Amendment to Employment Agreement, dated as of December 5, 1995, between the Company and Tony L. Mihalovich*        47
                                                                                                                         
10.7     Stock Option Agreement, dated as of January 1, 1994, between the Company and Tony L. Mihalovich.                
         [Incorporated by reference to Exhibit 10.6 at the Company's Form 10-KSB for the year ended December 31,         
         1993]*                                                                                                             N/A
                                                                                                                         
10.8     Amendment to Stock Option Agreement, dated as of December 5, 1995, between the Company and Tony L.              
         Mihalovich*                                                                                                         51
10.9     Stock Option Agreement, dated as of January 11, 1990, between Company and R. Ron Heiligenstein [Incorporated    
         by reference to Exhibit 10.11 to the Company's Form 10-K for the year ended December 31, 1989]*                    N/A

10.10    Form of Indemnity Agreement, dated as of January 24, 1990, entered into between the Company and each of the 
         following: Charles D. Jacobus, Hans-Rudolf Ammann, E. Gustav Malm, R. Ron Heiligenstein, Marshall A. Loewi, 
         Michael S. Ariens and Richard H. Bromley [Incorporated by reference to Exhibit 10.12 to the Company's Form 
         10-K for the year ended December 31, 1989]                                                                         N/A

10.11    1992 Stock Option Plan [Incorporated by reference to Exhibit 10.9 to the Company's Form 10-K for the year 
         ended December 31, 1992]*                                                                                          N/A

10.12    Form of 1992 Incentive Stock Option Agreement [Incorporated by reference to Exhibit 10.10 to the Company's 
         Form 10-K for the year ended December 31, 1992]*                                                                   N/A


10.13    1995 Stock Option Plan [Incorporated by reference to Exhibit 10.11 to the Company's Form 10-QSB for the end
         of the second quarter of 1995]*                                                                                    N/A

10.14    Stock Purchase Agreement, dated as of May 31, 1995, entered into between the Company and Hans-Rudolf Ammann, 
         Jolanda Ammann, Konrad Bachmaier and Thomas Ammann [Incorporated by reference to Exhibit 10.12 to the Company's 
         Form 10-QSB for the end of the second quarter of 1995]                                                             N/A

10.15    License Agreement, dated as of May 31, 1995, entered into between the Company and Ammann
</TABLE>
----------------------------------
     *   management contract or compensatory plan or arrangement.

                                      E-2
<PAGE>   17

<TABLE>
<S>      <C>
         Lasertechnik, AG [Incorporated by reference to Exhibit 10.13 to the Company's Form 10-QSB for the end of the 
         second quarter of 1995]                                                                                            N/A

10.16    Ammann Lasertechnik AG Supply Agreement, dated as of May 31, 1995, entered into between the Company and 
         Ammann Lasertechnik, AG  [Incorporated by reference to Exhibit 10.14 to the Company's Form 10-QSB for the end 
         of the second quarter of 1995]**                                                                                   N/A

10.17    David White, Inc. Supply Agreement, dated as of May 31, 1995, entered into between the Company and Ammann 
         Lasertechnik, AG [Incorporated by reference to Exhibit 10.15 to the Company's Form 10-QSB for the end of the 
         second quarter of 1995]**                                                                                          N/A

10.18    Transfer and Assignment Agreement, dated as of May 31, 1995, entered into between the Company and Ammann 
         Lasertechnik, AG [Incorporated by reference to Exhibit 10.16 to the Company's Form 10-QSB for the end of the 
         second quarter of 1995]                                                                                            N/A

10.19    Pledge Agreement, dated as of May 31, 1995, entered into between the Company and Hans-Rudolf Ammann, Jolanda 
         Ammann, Konrad Bachmaier and Thomas Ammann [Incorporated by reference to Exhibit 10.17 to the Company's Form 
         10-QSB for the end of the second quarter of 1995]                                                                  N/A

10.20    Summary [English Translation] of German Joint Venture Ammann Lasertechnik GmbH, March 1991 [Incorporated by 
         reference to Exhibit 10.8 to the Company's Form 10-K for the year ended December 31, 1991]                         N/A


13       1995 Annual Report to Shareholders [Except to the extent expressly incorporated herein by reference, this
         1995 Annual Report to Shareholders shall not be deemed "filed" with the Securities and Exchange Commission as
         part of this Form 10-KSB]                                                                                          53
    
21       Subsidiary of the Company                                                                                          65
    
27       Financial Data Schedule                                                                                            66
    
28       Proxy Statement for 1996 Annual Meeting of Shareholders [Previously filed with the Securities and Exchange
         Commission under Regulation 14A and incorporated by reference in this Form 10-KSB to the extent indicated
         herein]                                                                                                            N/A
</TABLE>

----------------------------------
     **  Certain information in this Exhibit was omitted pursuant  to a request
         for confidential treatment.  The information and the request were
         separately filed with the Commission.


                                      E-3