<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                  FORM 10-Q/A


             (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended June 30, 1999
                      -------------
                                       or

             ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

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

Commission File No. 1 - 1997
                    --------

                        THE MONARCH MACHINE TOOL COMPANY
                        --------------------------------
             (Exact name of registrant as specified in its charter)

              Ohio                                              34-43407810
---------------------------------                            -------------------
  (State or other jurisdiction                                (I.R.S. Employer
of incorporation or organization)                            Identification No.)

                    2600 Kettering Tower, Dayton, Ohio 45423
                    ----------------------------------------
               (Address of principal executive offices, zip code)

                                 (937) 910-9300
                                 --------------
               (Registrant's telephone number including area code)

                                      N. A.
 -------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (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
                                       ---    ---


The number of common shares outstanding as of July 29, 1999 was 4,282,817.


<PAGE>   2




                THE MONARCH MACHINE TOOL COMPANY AND SUBSIDIARIES
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                      TWO QUARTERS ENDED JUNE 30, 1999 AND
       1998 (all amounts in thousands except shares and per share amounts)


         Included in the coil processing segment results for the two quarters
         ended June 30, 1999 were sales of $10,295 and operating earnings of
         $396 from GFG Corporation which was acquired by the Company on December
         31, 1998.


6.       ACQUISITIONS
         ------------

         On June 30, 1999, the Company acquired Precision Industrial Corp. and
         Subsidiaries (parent of Herr-Voss) ("Precision"). The acquisition has
         been accounted for under the purchase method and, accordingly, the
         assets and liabilities of Precision have been included in the
         consolidated balance sheet at June 30, 1999.

         The purchase price paid by the Company for all of the outstanding
         capital stock of Precision consisted of $39,295 cash paid to seller,
         $25,340 of cash used to pay seller bank debt and accrued interest, a
         $15,000 seller subordinated note, an $840 Junior Subordinated Note
         assumed by Precision and 500,000 shares of the Company's Common Stock
         (valued at $6.59 a share). The aggregate purchase price was $82,930.
         Fees and expenses paid in connection with the purchase totaled
         approximately $832 and are being amortized over 25 years using the
         straight-line method.

         The excess purchase price over the fair value of identifiable net
         assets acquired has been allocated to goodwill. Goodwill of $57,733
         recorded in the transaction will be amortized over 25 years using the
         straight-line method. The purchase price allocation has been completed
         on a preliminary basis, subject to adjustments should new or additional
         facts become known.

         The following unaudited proforma information presents a summary of
         consolidated results of operations of the Company as if the acquisition
         of Precision had occurred at the beginning of each period presented.

<TABLE>
<CAPTION>
                                                            Two Quarters Ended June 30
                                                            ---------------------------
                                                             1999                1998
                                                             ----                ----
                                                                   (Unaudited)
<S>                                                         <C>                 <C>
         Net sales                                          $93,158             $81,882
         Earnings before taxes                              $ 2,248             $ 1,257
         Income taxes                                       $ 1,224             $   773
         Net income                                         $ 1,024             $   484
         Earnings per share (basic and diluted)             $   .24             $   .11
</TABLE>

         These unaudited proforma results have been prepared for comparative
         purposes only and include certain adjustments such as elimination of
         Precision management costs not expected to be incurred after the
         acquisition, additional depreciation as a result of the step-up in the
         basis of fixed assets, additional amortization expense as a result of
         goodwill and an increase in interest expense as a result of
         acquisition debt. They do not purport to be indicative of the results
         of operations which would have resulted had the combination occurred
         at the beginning of each period presented or of future results of
         operations of the combined entities. The disproportionate tax provision
         results from the nondeductibility of goodwill.

7.       ENVIRONMENTAL LIABILITY
         -----------------------

         As discussed in the Company's 1998 10K filing, in 1998, a Consent
         Decree was entered into among the EPA, several other potentially
         responsible parties ("PRP's") and a group of ten other companies
         ("Defendants") related to the costs of remediation of the Rosen Site, a
         former scrap yard in Cortland, New York. During April 1999, the Consent
         Decree was approved by the Department of Justice and in June 1999
         formally approved by the U.S. District Court in New York. Based on the
         fact that this Consent Decree substantially reduced the Company's
         future liability for this matter, the accrual recorded at December 31,
         1998 was reduced by $1,100. The reduction in the accrual is recorded in
         other income, net. The Company believes that the remaining amount
         accrued of $200, is adequate to cover its share of costs which may be
         incurred in this matter.


                                        7



<PAGE>   3



                                    SIGNATURE



         Pursuant to the requirements of the Securities Exchange Act of 1934,
         the registrant has duly caused this quarterly report to be signed on
         its behalf by the undersigned thereunto duly authorized.






                                   THE MONARCH MACHINE TOOL COMPANY
                                   (Registrant)



 DATE:       August 17, 1999       By  s/Karl A. Frydryk
     ---------------------------       -----------------
                                       Karl A. Frydryk
                                       Vice President & Chief Financial Officer
                                       (principal financial officer)







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