|                                                       |                                                                                                              |
|-------------------------------------------------------|--------------------------------------------------------------------------------------------------------------|
|                                                  | [X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934             |
| For the quarterly period ended January 2, 2011        |
| or                                                    |
|                                                  | [  ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
| For the transition period from _________ to _________ |

|                                                                                    |        |                                         |
|------------------------------------------------------------------------------------|--------|-----------------------------------------|
| LaBarge, Inc.                                                                      |
| (Exact name of registrant as specified in its charter)                             |
| Delaware                                                                           |   | 73-0574586                              |
| (State or Other Jurisdiction of Incorporation or Organization                      |   | (I.R.S. Employer Identification Number) |
|                                                                               |   |                                    |
| 9900 Clayton Road, St. Louis, Missouri                                             |   | 63124                                   |
| (Address of Principal Executive Offices)                                           |   | (Zip Code)                              |
|                                                                               |   |                                    |
| (314) 997-0800                                                                     |
| (Registrant’s Telephone Number, Including Area Code)                         |
| N/A                                                                                |
| (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) |

|                                                    |                                      |                                                      |
|----------------------------------------------------|--------------------------------------|------------------------------------------------------|
| Large accelerated filer  [   ] |        | Accelerated filer  [X]                     |
| Non-accelerated filer  [    ]  |                                 | Smaller reporting company  [   ] |
| (Do not check if a smaller reporting company)      |                                 |                                                 |

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|                                                                                                                                                                                |          |                                                                                              |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|----------------------------------------------------------------------------------------------|
| Part I                                                                                                                                                                         |     | Financial Information                                                                        |
|                                                                                                                                                                 |     |                                                                                         |
|                                                                                                | Item 1.  | Financial Statements.                                                                        |
|                                                                                                                                                                           |     |                                                                                         |
|                                                                                           |     | Consolidated Statements of Income                                                            |
|                                                                                                |     | Consolidated Balance Sheets                                                                  |
|                                                                                                                                                                           |     | Consolidated Statements of Cash Flows                                                        |
|                                                                                                                                                                           |     | Notes to Consolidated Financial Statements                                                   |
|                                                                                                                                                                           |     |                                                                                         |
|                                                                                                | Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
|                                                                                                |     |                                                                                         |
|                                                                                                                                                                           | Item 3.  | Quantitative and Qualitative Disclosures About Market Risk.                                  |
|                                                                                                                                                                           |     |                                                                                         |
|                                                                                                | Item 4.  | Controls and Procedures.                                                                     |
|                                                                                                                                                                           |     |                                                                                         |
| Part II                                                                                                                                                                        |     | Other Information                                                                            |
|                                                                                                                                                                           |     |                                                                                         |
|                                                                                                                                                                           | Item 1A. | Risk Factors.                                                                                |
|                                                                                                                                                                           | Item 6.  | Exhibits.                                                                                    |
|                               |     |                                                                                         |
| Signature                                                                                                                                                                      |     |                                                                                         |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                      |        |                        |        |                      |        |                        |        |         |        |        |         |         |        |        |   |         |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|---------|--------|--------|---------|---------|--------|--------|---|---------|--------|--------|
|                                                                                                                  | Three Months Ended   |   | Six Months Ended       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Net sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $                    | 81,441 |                   |   |                 | $      | 69,000                 |   |    |   | $      | 166,889 |    |   |   | $ | 132,155 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Cost of sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 65,160               |   |                   |   | 55,300               |   |                   |   | 133,177 |   |   |    | 106,225 |   |   |
| Gross profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 16,281               |   |                   |   | 13,700               |   |                   |   | 33,712  |   |   |    | 25,930  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Selling and administrative expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9,031                |   |                   |   | 8,858                |   |                   |   | 18,432  |   |   |    | 16,948  |   |   |
| Operating income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 7,250                |   |                   |   | 4,842                |   |                   |   | 15,280  |   |   |    | 8,982   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Interest expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 340                  |   |                   |   | 421                  |   |                   |   | 738     |   |   |    | 929     |   |   |
| Other (income) expense, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (7                   | )      |                   |   | 15                   |   |                   |   | (13     | )      |   |    | 39      |   |   |
| Earnings before income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 6,917                |   |                   |   | 4,406                |   |                   |   | 14,555  |   |   |    | 8,014   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2,505                |   |                   |   | 1,569                |   |                   |   | 5,215   |   |   |    | 2,074   |   |   |
| Net earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $                    | 4,412  |                   |   |                 | $      | 2,837                  |   |    |   | $      | 9,340   |    |   |   | $ | 5,940   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Basic net earnings per common share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $                    | 0.28   |                   |   |                 | $      | 0.18                   |   |    |   | $      | 0.60    |    |   |   | $ | 0.38    |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Average basic common shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 15,695               |   |                   |   | 15,756               |   |                   |   | 15,690  |   |   |    | 15,750  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Diluted net earnings per common share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $                    | 0.28   |                   |   |                 | $      | 0.18                   |   |    |   | $      | 0.59    |    |   |   | $ | 0.37    |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                 |   |                   |   |                 |   |                   |   |    |   |   |
| Average diluted common shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 15,943               |   |                   |   | 16,041               |   |                   |   | 15,925  |   |   |    | 16,047  |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |        |                                                                                                                                                                                                                                                                                                                                      |         |                    |                                            |                                                              |        |         |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|--------------------|--------------------------------------------|--------------------------------------------------------------|--------|---------|--------|--------|
|                                                                                                                      |   | January 2, 2011                                                                                                                                                                                                                                                                                                                 |    | June 27, 2010 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                                                                                                                                                                                                                                 |    |               |                                       |                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | (Unaudited)                                                                                                                                                                                                                                                                                                                          |    |               |                                       |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                                                                                                 |    |               |                                       |                                                         |
| Current assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                                                                                                                                                                                                                |    |               |         |                                                         |
| Cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                                                                                                                                                                                                                                                                                                                                    | 2,443   |               |                                       |                                                         | $      | 2,301   |   |   |
| Accounts and other receivables, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 42,104                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 46,807                                                       |   |    |
| Inventories                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 71,826                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 64,536                                                       |   |    |
| Prepaid expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 1,380                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 1,062                                                        |   |    |
| Deferred tax assets, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 3,666                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 3,655                                                        |   |    |
| Total current assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 121,419                                                                                                                                                                                                                                                                                                                              |    |               |                                       | 118,361                                                      |   |    |
| Property, plant and equipment, net of accumulated depreciation of $38,517 at January 2, 2011, and $35,704 at June 27, 2010                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 27,710                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 28,536                                                       |   |    |
| Intangible assets, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 8,026                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 9,076                                                        |   |    |
| Goodwill                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 43,424                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 43,424                                                       |   |    |
| Other assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 5,083                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 5,125                                                        |   |    |
| Total assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                                                                                                                                                                                                                                                                                                                                    | 205,662 |               |                                       |                                                         | $      | 204,522 |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                                                                                                                                                                                                                                                                                                  |    |               |                                       |                                                         |
| Current liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                                                                                                                                                                |    |               |                                       |            |   |    |
| Current maturities of long-term debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                                                                                                                                                                                                                                                                                                                                    | 10,217  |               |                                       |                                                         | $      | 12,069  |   |   |
| Trade accounts payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 25,010                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 26,538                                                       |   |    |
| Accrued employee compensation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 13,706                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 14,625                                                       |   |    |
| Other accrued liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2,981                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 3,712                                                        |   |    |
| Cash advances from customers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 4,333                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 2,921                                                        |   |    |
| Total current liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 56,247                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 59,865                                                       |   |    |
| Long-term advances from customers for purchase of materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 307                                                                                                                                                                                                                                                                                                                                  |    |               |                                       | 46                                                           |   |    |
| Deferred tax liabilities, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2,733                                                                                                                                                                                                                                                                                                                                |    |               |                                       | 2,494                                                        |   |    |
| Deferred gain on sale of real estate and other liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 919                                                                                                                                                                                                                                                                                                                                  |    |               |                                       | 1,219                                                        |   |    |
| Long-term debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 20,050                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 25,258                                                       |   |    |
| Stockholders’ equity:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                        |    |               |                                       |                                                         |
| Common stock, $0.01 par value.  Authorized 40,000,000 shares; 15,958,839 issued at both January 2, 2011, and June 27, 2010, including shares in treasury                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 160                                                                                                                                                                                                                                                                                                                                  |    |               |                                       | 160                                                          |   |    |
| Additional paid-in capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 13,896                                                                                                                                                                                                                                                                                                                               |    |               |                                       | 14,582                                                       |   |    |
| Retained earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 113,167                                                                                                                                                                                                                                                                                                                              |    |               |                                       | 103,827                                                      |   |    |
| Accumulated other comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | (192                                                                                                                                                                                                                                                                                                                                 | )       |               |                                       | (222                                                         | )      |    |
| Less cost of common stock in treasury shares of 139,351 at January 2, 2011, and 234,651 at June 27, 2010                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | (1,625                                                                                                                                                                                                                                                                                                                               | )       |               |                                       | (2,707                                                       | )      |    |
| Total stockholders’ equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 125,406                                                                                                                                                                                                                                                                                                                              |    |               |                                       | 115,640                                                      |   |    |
| Total liabilities and stockholders’ equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | $                                                                                                                                                                                                                                                                                                                                    | 205,662 |               |                                       |                                                         | $      | 204,522 |   |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |        |                        |                                                                                                                          |         |        |        |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|--------------------------------------------------------------------------------------------------------------------------|---------|--------|--------|--------|--------|
|                                                                                                 |   | Six Months Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                                                            |   | January 2, 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | December 27, 2009 |
| Cash flows from operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                   |                                                                                                                     |    |
| Net earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 9,340  |                   |                                                                                                                     |    | $      | 5,940  |   |   |
| Adjustments to reconcile net cash provided by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                                          |   |                   |                                                                                                                     |    |
| Loss on disposal of property, plant and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | —                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                   |                                                                                                                     | 44      |   |   |
| Depreciation and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 4,269                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                   |                                                                                                                     | 4,516   |   |   |
| Amortization of deferred gain on sale of real estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | (240                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | )      |                   |                                                                                                                     | (240    | )      |   |
| Share-based compensation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 730                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                   |                                                                                                                     | 703     |   |   |
| Deferred taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 196                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                   |                                                                                                                     | 576     |   |   |
| Changes in operating assets and liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                   |                                                                                                                     |    |
| Accounts and other receivables, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 4,703                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                   |                                                                                                                     | 2,735   |   |   |
| Inventories                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (7,290                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | (2,698  | )      |   |
| Prepaid expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | (193                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | )      |                   |                                                                                                                     | (79     | )      |   |
| Trade accounts payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (2,022                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | 3,472   |   |   |
| Accrued liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (1,622                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | 1,570   |   |   |
| Cash advances from customers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 1,673                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                   |                                                                                                                     | (3,872  | )      |   |
| Net cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 9,544                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                   |                                                                                                                     | 12,667  |   |   |
| Cash flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                                  |   |                   |                                                                                                                     |    |
| Additions to property, plant and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (1,766                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | (2,612  | )      |   |
| Proceeds from disposal of property, equipment and other assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                   |                                                                                                                     | 14      |   |   |
| Additions to other assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | (106                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | )      |                   |                                                                                                                     | (487    | )      |   |
| Net cash used by investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (1,857                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | (3,085  | )      |   |
| Cash flows from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |                      |    |
| Borrowings on revolving credit facility                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 21,150                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                   |                                                                                                                     | 850     |   |   |
| Payments of revolving credit facility                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (21,150                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | )      |                   |                                                                                                                     | (850    | )      |   |
| Repayments of long-term debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | (7,060                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | (4,080  | )      |   |
| Transaction costs related to bank financing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (125                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | )      |                   |                                                                                                                     | — |   |   |
| Excess tax benefits from stock option exercises                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                   |                                                                                                                     | 387     |   |   |
| Remittance of minimum taxes withheld as part of a net share settlement of stock option exercises                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | (562                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | )      |                   |                                                                                                                     | (841    | )      |   |
| Issuance of treasury stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 166                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                   |                                                                                                                     | 140     |   |   |
| Purchase of treasury stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | —                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                   |                                                                                                                     | (686    | )      |   |
| Net cash used by financing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (7,545                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | )      |                   |                                                                                                                     | (5,080  | )      |   |
| Net increase in cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 142                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                   |                                                                                                                     | 4,502   |   |   |
| Cash and cash equivalents at beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 2,301                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                   |                                                                                                                     | 4,297   |   |   |
| Cash and cash equivalents at end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2,443  |                   |                                                                                                                     |    | $      | 8,799  |   |   |

----

|                                            |
|--------------------------------------------|
| LaBarge, Inc.                              |
| NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
| (Unaudited)                                |

|                            |                                                                      |
|----------------------------|----------------------------------------------------------------------|
| 1.     | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |

----

|                            |                     |
|----------------------------|---------------------|
| 2.     | SALES AND NET SALES |

|                                                                                                                                                                                                                                                                                                                                                                                                                          |                      |        |                        |        |                      |        |                        |        |        |        |        |         |        |        |        |   |         |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|--------|---------|--------|--------|--------|---|---------|--------|--------|
|                                                                      | Three Months Ended   |   | Six Months Ended       |
|                                                                                                                                                                                                                                                                                                                                                                                                                     | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Sales                                                                                                                                                                                                                                                                                                                                                                                                                    | $                    | 81,580 |                   |   |                 | $      | 69,103                 |   |   |   | $      | 167,142 |   |   |   | $ | 132,397 |   |   |
| Less sales discounts                                                                                                                                                                                                                                                                                                                                                                                                     | 139                  |   |                   |   | 103                  |   |                   |   | 253    |   |   |    | 242    |   |   |
|   Net sales                                                                                                                                                                                                                                                                                                                                                                                                    | $                    | 81,441 |                   |   |                 | $      | 69,000                 |   |   |   | $      | 166,889 |   |   |   | $ | 132,155 |   |   |

|                            |                                |
|----------------------------|--------------------------------|
| 3.     | ACCOUNTS AND OTHER RECEIVABLES |

|                                      |                      |        |                    |        |        |        |        |        |        |
|--------------------------------------|----------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|
|                                 | January 2, 2011 |   | June 27, 2010 |
| Billed shipments                     | $                    | 42,040 |               |   |   | $      | 46,890 |   |   |
| Less allowance for doubtful accounts | 375                  |   |               |   | 285    |   |   |
| Trade receivables, net               | 41,665               |   |               |   | 46,605 |   |   |
| Other current receivables            | 439                  |   |               |   | 202    |   |   |
|   Total                    | $                    | 42,104 |               |   |   | $      | 46,807 |   |   |

----

|                            |             |
|----------------------------|-------------|
| 4.     | INVENTORIES |

|                                                                                                               |        |                      |        |                    |        |        |        |        |        |        |
|---------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|
|                                                                                                          |   | January 2, 2011 |   | June 27, 2010 |
| Raw materials                                                                                                 |   | $                    | 49,338 |               |   |   | $      | 42,602 |   |   |
| Work in progress                                                                                              |   | 5,668                |   |               |   | 4,658  |   |   |
| Inventoried costs relating to long-term contracts, net of amounts attributable to revenues recognized to date |   | 12,598               |   |               |   | 13,399 |   |   |
| Finished goods                                                                                                |   | 4,222                |   |               |   | 3,877  |   |   |
|   Total                                                                                             |   | $                    | 71,826 |               |   |   | $      | 64,536 |   |   |

|                                                                                                                                                               |        |                      |        |                    |        |         |        |        |        |        |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|--------------------|--------|---------|--------|--------|--------|--------|
|                                                                                                                                                          |   | January 2, 2011 |   | June 27, 2010 |
| Production costs of goods currently in process (1)                                                                                                            |   | $                    | 11,745 |               |   |    | $      | 13,054 |   |   |
| Excess of production costs of delivered units over the estimated average cost of all units expected to be produced, including tooling and non-recurring costs |   | 714                  |   |               |   | 642     |   |   |
| Unrecovered costs subject to future negotiation                                                                                                               |   | 381                  |   |               |   | — |   |   |
| Reserve for contracts with estimated costs in excess of contract revenues                                                                                     |   | (242                 | )      |               |   | (297    | )      |   |
| Total inventoried costs                                                                                                                                       |   | $                    | 12,598 |               |   |    | $      | 13,399 |   |   |

|                                   |                                                                          |
|-----------------------------------|--------------------------------------------------------------------------|
| (1)      | Selling and administrative expenses are not included in inventory costs. |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                    |        |                      |        |                    |        |        |        |        |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|
|                                                                     |   | January 2, 2011 |   | June 27, 2010 |
| Software                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                    | 5,515  |               |   |   | $      | 5,446  |   |   |
| Less accumulated amortization                                                                                                                                                                                                                                                                                                                                                                                      |   | 4,695                |   |               |   | 4,432  |   |   |
| Net software                                                                                                                                                                                                                                                                                                                                                                                                       |   | 820                  |   |               |   | 1,014  |   |   |
| Customer lists                                                                                                                                                                                                                                                                                                                                                                                                     |   | 9,670                |   |               |   | 9,670  |   |   |
| Less accumulated amortization                                                                                                                                                                                                                                                                                                                                                                                      |   | 2,464                |   |               |   | 1,836  |   |   |
| Net customer lists                                                                                                                                                                                                                                                                                                                                                                                                 |   | 7,206                |   |               |   | 7,834  |   |   |
| Employee agreements                                                                                                                                                                                                                                                                                                                                                                                                |   | 950                  |   |               |   | 950    |   |   |
| Less accumulated amortization                                                                                                                                                                                                                                                                                                                                                                                      |   | 950                  |   |               |   | 722    |   |   |
| Net employee agreements                                                                                                                                                                                                                                                                                                                                                                                            |   | —              |   |               |   | 228    |   |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                    | 8,026  |               |   |   | $      | 9,076  |   |   |

|                            |          |
|----------------------------|----------|
| 6.     | GOODWILL |

|          |                      |        |                    |        |        |   |        |        |        |
|----------|----------------------|--------|--------------------|--------|--------|---|--------|--------|--------|
|     | January 2, 2011 |   | June 27, 2010 |
| Goodwill | $                    | 43,424 |               |   |   | $ | 43,424 |   |   |

----

|                            |              |
|----------------------------|--------------|
| 7.     | OTHER ASSETS |

|                               |                      |        |                    |        |        |        |        |        |        |
|-------------------------------|----------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|
|                          | January 2, 2011 |   | June 27, 2010 |
| Cash value of life insurance  | $                    | 4,604  |               |   |   | $      | 4,723  |   |   |
| Deposits and licenses         | 178                  |   |               |   | 186    |   |   |
| Deferred financing costs, net | 217                  |   |               |   | 141    |   |   |
| Other                         | 84                   |   |               |   | 75     |   |   |
| Total                         | $                    | 5,083  |               |   |   | $      | 5,125  |   |   |

|                            |                                  |
|----------------------------|----------------------------------|
| 8.     | SHORT- AND LONG-TERM OBLIGATIONS |

|                                                                   |                      |         |                    |        |        |        |         |        |        |
|-------------------------------------------------------------------|----------------------|---------|--------------------|--------|--------|--------|---------|--------|--------|
|                                                              | January 2, 2011 |    | June 27, 2010 |
| Short-term borrowings:                                            |                 |    |               |   |   |
| Revolving credit agreement:                                       |                 |    |               |   |   |
| Balance at period-end                                             | $                    | — |               |   |   | $      | — |   |   |
| Interest rate at period-end                                       | 3.50                 | %       |               |   | 3.75   | %      |    |
| Average amount of short-term borrowings outstanding during period | $                    | 248     |               |   |   | $      | 35      |   |   |
| Average interest rate for period                                  | 3.79                 | %       |               |   | 3.79   | %      |    |
| Maximum short-term borrowings at any month-end                    | $                    | 550     |               |   |   | $      | — |   |   |
| Senior long-term debt:                                            |                 |    |               |   |   |
| Term loan                                                         | $                    | 30,000  |               |   |   | $      | 37,000  |   |   |
| Other                                                             | 267                  |    |               |   | 327    |   |    |
| Total senior long-term debt                                       | 30,267               |    |               |   | 37,327 |   |    |
| Less current maturities                                           | 10,217               |    |               |   | 12,069 |   |    |
| Long-term debt, less current maturities                           | $                    | 20,050  |               |   |   | $      | 25,258  |   |   |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | The amended agreement provides for a revolving credit facility of up to $30.0 million, which is available for direct borrowings or letters of credit.  The facility is based on a borrowing base formula equal to the sum of 85% of eligible receivables and 35% of eligible inventories. As of January 2, 2011, $0 was outstanding under the revolving credit facility.  As of January 2, 2011, letters of credit issued were $1.2 million, leaving an |

----

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | The amended agreement provides for an extension of the final maturity date of the term loan.  Beginning in December 2010, quarterly principal payments of $2.5 million are made, increasing to $2.7 million in September 2011, decreasing to $2.5 million in December 2011, and decreasing again to $2.3 million in December 2013. The term loan will be fully amortized at maturity on December 31, 2013.  |

|                                |                                                                                                                                                                                                                                             |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Interest on the revolving facility and the term loan is calculated at a base rate or LIBOR plus a stated spread based on certain ratios.  For the fiscal quarter ended January 2, 2011, the average rate was approximately 3.59%. |

|                                |                                                                                              |
|--------------------------------|----------------------------------------------------------------------------------------------|
| •     | All loans are secured by substantially all the assets of the Company other than real estate. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | The Company must comply with covenants and certain financial performance criteria consisting of Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) in relation to debt, minimum net worth and operating cash flow in relation to fixed charges. The Company was in compliance with its borrowing agreement covenants as of and during the fiscal quarter ended January 2, 2011. |

----

|                                |                                                                                                                                           |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. |

|                                |                                                                                                                                                                                                                                                                                        |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. |

|                                |                                                                                                                     |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------|
| •     | Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. |

|                                                                                                                                                                                                                                                                                                                                                                                            |        |                                  |         |         |        |         |        |        |        |        |        |        |         |        |        |        |   |     |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|---------|--------|---------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|---|-----|--------|--------|
|                                                                 |   | Fair Value as of January 2, 2011 |
|                                                                                                                                                                                                                                                                                                                                                                                       |   | Level 1                          |    | Level 2 |   | Level 3 |   | Total  |
| Other long-term liabilities:                                                                                                                                                                                                                                                                                                                                                               |   |                             |    |    |   |    |   |   |   |   |   |   |
| Interest rate swap derivative                                                                                                                                                                                                                                                                                                                                                              |   | $                                | — |    |   |    | $      | 299    |   |   |   | $      | — |   |   |   | $ | 299 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                       |   | $                                | — |    |   |    | $      | 299    |   |   |   | $      | — |   |   |   | $ | 299 |   |   |

|        |             |        |        |        |
|--------|-------------|--------|--------|--------|
|   | Fiscal Year |
|   | 2011        | $      | 5,009  |   |
|   | 2012        | 10,458 |   |
|   | 2013        | 10,000 |   |
|   | 2014        | 4,800  |   |
|   | Total       | $      | 30,267 |   |

|                            |            |
|----------------------------|------------|
| 9.     | CASH FLOWS |

----

|                             |                      |
|-----------------------------|----------------------|
| 10.     | COMPREHENSIVE INCOME |

|                                                                                                                                                                                                                                                                                                                          |                      |        |                        |        |                      |        |                        |        |        |        |        |        |        |        |        |   |       |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|--------|--------|--------|--------|--------|---|-------|--------|--------|
|                                                                                                                                                                                                                                                                                                                     | Three Months Ended   |   | Six Months Ended       |
|                                                      | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Net income                                                                                                                                                                                                                                                                                                               | $                    | 4,412  |                   |   |                 | $      | 2,837                  |   |   |   | $      | 9,340  |   |   |   | $ | 5,940 |   |   |
| Other comprehensive (gain) / loss                                                                                                                                                                                                                                                                                        | (58                  | )      |                   |   | 23                   |   |                   |   | (30    | )      |   |   | 96     |   |   |
| Comprehensive income                                                                                                                                                                                                                                                                                                     | $                    | 4,470  |                   |   |                 | $      | 2,814                  |   |   |   | $      | 9,370  |   |   |   | $ | 5,844 |   |   |

|                             |                           |
|-----------------------------|---------------------------|
| 11.     | EARNINGS PER COMMON SHARE |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                      |        |                        |                  |                      |        |                        |        |        |        |   |       |        |        |        |   |       |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|--------|------------------------|------------------|----------------------|--------|------------------------|--------|--------|--------|---|-------|--------|--------|--------|---|-------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Three Months Ended   |   |                   | Six Months Ended |                 |
|                                                                               | January 2, 2011 |   | December 27, 2009 |             | January 2, 2011 |   | December 27, 2009 |
| Net earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $                    | 4,412  |                   |             |                 | $      | 2,837                  |   |   |   | $ | 9,340 |   |   |   | $ | 5,940 |   |   |
| Basic net earnings per common share                                                                                                                                                                                                                                                                                                                                                                                                                                            | $                    | 0.28   |                   |             |                 | $      | 0.18                   |   |   |   | $ | 0.60  |   |   |   | $ | 0.38  |   |   |
| Diluted net earnings per common share                                                                                                                                                                                                                                                                                                                                                                                                                                          | $                    | 0.28   |                   |             |                 | $      | 0.18                   |   |   |   | $ | 0.59  |   |   |   | $ | 0.37  |   |   |

|                                                                                                        |        |                      |        |                        |        |                      |        |                        |        |        |        |        |        |        |        |        |
|--------------------------------------------------------------------------------------------------------|--------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
|                   |   | Three Months Ended   |   | Six Months Ended       |
|                                                                          |   | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Average common shares outstanding – basic                                                        |   | 15,695               |   |                   |   | 15,756               |   |                   |   | 15,690 |   |   |   | 15,750 |   |   |
| Dilutive options and nonvested shares                                                                  |   | 248                  |   |                   |   | 285                  |   |                   |   | 235    |   |   |   | 297    |   |   |
| Adjusted average common shares outstanding – diluted                                             |   | 15,943               |   |                   |   | 16,041               |   |                   |   | 15,925 |   |   |   | 16,047 |   |   |

----

|                             |                          |
|-----------------------------|--------------------------|
| 12.     | STOCK-BASED ARRANGEMENTS |

|                                                                                                                                                                                                                                                                                                                    |                  |        |                                 |        |                              |        |                                 |        |                                            |         |        |        |         |         |        |        |         |         |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|--------|---------------------------------|--------|------------------------------|--------|---------------------------------|--------|--------------------------------------------|---------|--------|--------|---------|---------|--------|--------|---------|---------|--------|--------|
|                                                     | Number of Shares |   | Weighted-Average Exercise Price |   | Number of Shares Exercisable |   | Weighted-Average Exercise Price |   | Weighted-AverageFair Value Granted Options |
| Outstanding at June 27, 2010                                                                                                                                                                                                                                                                                       | 426,652          |   |                            |   | $                            | 5.61   |                            |   |                                       | 426,652 |   |   |    | $       | 5.61   |   |    |    |   |   |
|                                                                                                                                                                                                                                                                                                               |             |   |                            |   |                         |   |                            |   |                                       |    |   |   |    |    |
| Exercised                                                                                                                                                                                                                                                                                                          | 1,000            |   |                            |   | $                            | 8.54   |                            |   |                                       | — |   |   |    | — |   |   |    | — |   |
| Outstanding at October 3, 2010                                                                                                                                                                                                                                                                                | 425,652          |   |                            |   | 5.60                         |   |                            |   | 425,652                                    |    |   |   | 5.60    |    |   |   |    |    |
|                                                                                                                                                                                                                                                                                                               |             |   |                            |   |                         |   |                            |   |                                       |    |   |   |    |    |
| Exercised                                                                                                                                                                                                                                                                                                          | 14,087           |   |                            |   | 6.91                         |   |                            |   | —                                    |    |   |   | — |    |   |   | — |    |
| Outstanding at January 2, 2011                                                                                                                                                                                                                                                                                | 411,565          |   |                            |   | $                            | 5.55   |                            |   |                                       | 411,565 |   |   |    | $       | 5.55   |   |    |    |   |   |

----

|                                                                                                                                                                                                                                                                    |                    |        |                                                       |        |                                      |        |                                                   |        |      |        |        |        |        |        |        |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------|-------------------------------------------------------|--------|--------------------------------------|--------|---------------------------------------------------|--------|------|--------|--------|--------|--------|--------|--------|--------|--------|
| Range of Exercise Prices                                                                                                                                                                                                                                           | Number Outstanding |   | Weighted-Average Remaining Contractual Life(In Years) |   | Weighted-Average Exercise Price |   | Aggregate Intrinsic Value (1) (in millions)  |
| $2.50 – 3.00                                                                                                                                                                                                                                                 | 112,900            |   |                                                  |   | 0.6                                  |   |                                              |   | $    | 2.85   |   |   |   | $      | 1.5    |   |   |
| $3.01 – 5.96                                                                                                                                                                                                                                                 | 117,013            |   |                                                  |   | 2.6                                  |   |                                              |   | 3.53 |   |   |   | 1.4    |   |   |
| $5.97 – 8.54                                                                                                                                                                                                                                                 | 181,652            |   |                                                  |   | 3.6                                  |   |                                              |   | 8.54 |   |   |   | 1.3    |   |   |
|                                             | 411,565            |   |                                                  |   | 2.5                                  |   |                                              |   | $    | 5.55   |   |   |   | $      | 4.2    |   |   |

|                                     |        |                            |        |                               |        |         |        |        |        |
|-------------------------------------|--------|----------------------------|--------|-------------------------------|--------|---------|--------|--------|--------|
|                                |   | Number of Nonvested Shares |   | Weighted- Average Grant Price |
| Nonvested shares at June 27, 2010   |   | 119,338                    |   |                          |   | $       | 12.30  |   |   |
|                                |   |                       |   |                          |   |    |
| Awarded                             |   | —                    |   |                          |   | — |   |   |
| Vested                              |   | —                    |   |                          |   | — |   |   |
| Forfeited                           |   | —                    |   |                          |   | — |   |   |
| Nonvested shares at January 2, 2011 |   | 119,338                    |   |                          |   | $       | 12.30  |   |   |

----

----

|                      |        |        |        |                      |        |                    |        |         |        |        |        |        |         |        |        |
|----------------------|--------|--------|--------|----------------------|--------|--------------------|--------|---------|--------|--------|--------|--------|---------|--------|--------|
|                 |   | Change |   | January 2, 2011 |   | June 27, 2010 |
| Defense              |   | $      | 45,951 |                 |   |               | $      | 156,381 |   |   |   | $      | 110,430 |   |   |
| Natural Resources    |   | (4,527 | )      |                 |   | 31,830             |   |    |   | 36,357 |   |   |
| Industrial           |   | (7,498 | )      |                 |   | 21,133             |   |    |   | 28,631 |   |   |
| Medical              |   | 238    |   |                 |   | 18,403             |   |    |   | 18,165 |   |   |
| Commercial Aerospace |   | 802    |   |                 |   | 2,414              |   |    |   | 1,612  |   |   |
| Other                |   | 1,935  |   |                 |   | 5,467              |   |    |   | 3,532  |   |   |
| Total backlog        |   | $      | 36,901 |                 |   |               | $      | 235,628 |   |   |   | $      | 198,727 |   |   |

|                      |        |                      |        |                        |        |                      |        |                        |        |        |        |        |         |        |        |        |   |         |        |        |
|----------------------|--------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|--------|---------|--------|--------|--------|---|---------|--------|--------|
|                 |   | Three Months Ended   |   | Six Months Ended       |
|                 |   | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Defense              |   | $                    | 27,831 |                   |   |                 | $      | 29,942                 |   |   |   | $      | 58,395  |   |   |   | $ | 60,799  |   |   |
| Natural Resources    |   | 22,327               |   |                   |   | 13,860               |   |                   |   | 43,618 |   |   |    | 23,799 |   |   |
| Industrial           |   | 19,305               |   |                   |   | 14,775               |   |                   |   | 41,930 |   |   |    | 25,755 |   |   |
| Medical              |   | 8,641                |   |                   |   | 6,918                |   |                   |   | 16,005 |   |   |    | 13,770 |   |   |
| Commercial Aerospace |   | 1,021                |   |                   |   | 746                  |   |                   |   | 2,206  |   |   |    | 2,613  |   |   |
| Other                |   | 2,316                |   |                   |   | 2,759                |   |                   |   | 4,735  |   |   |    | 5,419  |   |   |
| Total net sales      |   | $                    | 81,441 |                   |   |                 | $      | 69,000                 |   |   |   | $      | 166,889 |   |   |   | $ | 132,155 |   |   |

----

|                      |        |                      |        |                        |        |                      |        |                        |        |        |        |        |         |        |        |        |   |         |        |        |
|----------------------|--------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|--------|---------|--------|--------|--------|---|---------|--------|--------|
|                 |   | Three Months Ended   |   | Six Months Ended       |
|                 |   | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Cost of sales        |   | $                    | 65,160 |                   |   |                 | $      | 55,300                 |   |   |   | $      | 133,177 |   |   |   | $ | 106,225 |   |   |
| Percent of net sales |   | 80.0                 | %      |                   |   | 80.1                 | %      |                   |   | 79.8   | %      |   |    | 80.4   | %      |   |
| Gross profit         |   | $                    | 16,281 |                   |   |                 | $      | 13,700                 |   |   |   | $      | 33,712  |   |   |   | $ | 25,930  |   |   |
| Gross profit margin  |   | 20.0                 | %      |                   |   | 19.9                 | %      |                   |   | 20.2   | %      |   |    | 19.6   | %      |   |

----

|                                    |                      |        |                        |        |                      |        |                        |        |        |        |        |        |        |        |        |   |        |        |        |
|------------------------------------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|--------|--------|--------|--------|--------|---|--------|--------|--------|
|                               | Three Months Ended   |   | Six Months Ended       |
|                               | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Selling and administrative expense | $                    | 9,031  |                   |   |                 | $      | 8,858                  |   |   |   | $      | 18,432 |   |   |   | $ | 16,948 |   |   |
| Percent of net sales               | 11.1                 | %      |                   |   | 12.8                 | %      |                   |   | 11.0   | %      |   |   | 12.8   | %      |   |

|                  |        |                      |        |                        |        |                      |        |                        |        |        |        |   |     |        |        |        |   |     |        |        |
|------------------|--------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|---|-----|--------|--------|--------|---|-----|--------|--------|
|             |   | Three Months Ended   |   | Six Months Ended       |
|             |   | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Interest expense |   | $                    | 340    |                   |   |                 | $      | 421                    |   |   |   | $ | 738 |   |   |   | $ | 929 |   |   |

|                    |        |                      |        |                        |        |                      |        |                        |        |        |        |   |       |        |        |        |   |       |        |        |
|--------------------|--------|----------------------|--------|------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|---|-------|--------|--------|--------|---|-------|--------|--------|
|               |   | Three Months Ended   |   | Six Months Ended       |
|               |   | January 2, 2011 |   | December 27, 2009 |   | January 2, 2011 |   | December 27, 2009 |
| Income tax expense |   | $                    | 2,505  |                   |   |                 | $      | 1,569                  |   |   |   | $ | 5,215 |   |   |   | $ | 2,074 |   |   |

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|                                           |                      |        |                        |        |        |   |        |        |        |
|-------------------------------------------|----------------------|--------|------------------------|--------|--------|---|--------|--------|--------|
|                                      | Six Months Ended     |
|                                      | January 2, 2011 |   | December 27, 2009 |
| Net cash provided by operating activities | $                    | 9,544  |                   |   |   | $ | 12,667 |   |   |
| Net cash used by investing activities     | (1,857               | )      |                   |   | (3,085 | ) |   |
| Net cash used by financing activities     | (7,545               | )      |                   |   | (5,080 | ) |   |
| Net increase in cash and cash equivalents | $                    | 142    |                   |   |   | $ | 4,502  |   |   |

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|                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | The amended agreement provides for a revolving credit facility of up to $30.0 million, which is available for direct borrowings or letters of credit.  The facility is based on a borrowing base formula equal to the sum of 85% of eligible receivables and 35% of eligible inventories. As of January 2, 2011, $0 was outstanding under the revolving credit facility.  As of January 2, 2011, letters of credit issued were $1.2 million, leaving an aggregate of up to $28.8 million available under the revolving credit facility. This credit facility matures on December 31, 2013. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | The amended agreement provides for an extension of the final maturity date of the term loan.  Beginning in December 2010, quarterly principal payments of $2.5 million are made, increasing to $2.7 million in September 2011, decreasing to $2.5 million in December 2011, and decreasing again to $2.3 million in December 2013. The term loan will be fully amortized at maturity on December 31, 2013.  |

|                                |                                                                                                                                                                                                                                             |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Interest on the revolving facility and the term loan is calculated at a base rate or LIBOR plus a stated spread based on certain ratios.  For the fiscal quarter ended January 2, 2011, the average rate was approximately 3.59%. |

|                                |                                                                                              |
|--------------------------------|----------------------------------------------------------------------------------------------|
| •     | All loans are secured by substantially all the assets of the Company other than real estate. |

|                                |                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | The Company must comply with covenants and certain financial performance criteria consisting of Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) in relation to debt, minimum net worth and operating cash flow in relation to fixed charges. The Company was in compliance with its borrowing agreement covenants as of and during the fiscal quarter ended January 2, 2011. |

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|                                |                                                                                                                                           |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. |

|                                |                                                                                                                                                                                                                                                                                        |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •     | Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. |

|                                |                                                                                                                     |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------|
| •     | Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. |

|                                                                                                                                                                                                                                                                                                                                                                                            |        |                                  |         |         |        |         |        |        |        |        |        |        |         |        |        |        |   |     |        |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|---------|--------|---------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|---|-----|--------|--------|
|                                                                 |   | Fair Value as of January 2, 2011 |
|                                                                                                                                                                                                                                                                                                                                                                                       |   | Level 1                          |    | Level 2 |   | Level 3 |   | Total  |
| Other long-term liabilities:                                                                                                                                                                                                                                                                                                                                                               |   |                             |    |    |   |    |   |   |   |   |   |   |
| Interest rate swap derivative                                                                                                                                                                                                                                                                                                                                                              |   | $                                | — |    |   |    | $      | 299    |   |   |   | $      | — |   |   |   | $ | 299 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                       |   | $                                | — |    |   |    | $      | 299    |   |   |   | $      | — |   |   |   | $ | 299 |   |   |

|        |             |        |        |        |
|--------|-------------|--------|--------|--------|
|   | Fiscal Year |   |
|   | 2011        | $      | 5,009  |   |
|   | 2012        | 10,458 |   |
|   | 2013        | 10,000 |   |
|   | 2014        | 4,800  |   |
|   | Total       | $      | 30,267 |   |

----

|                                                                                      |        |                      |         |                    |        |        |        |         |        |        |
|--------------------------------------------------------------------------------------|--------|----------------------|---------|--------------------|--------|--------|--------|---------|--------|--------|
|                |   | January 2, 2011 |    | June 27, 2010 |
| Stockholders’ equity                                                           |   | $                    | 125,406 |               |   |   | $      | 115,640 |   |   |
| Debt                                                                                 |   | 30,267               |    |               |   | 37,327 |   |    |

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|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1   | Third Amendment to Loan Agreement dated as of December 31, 2010, by and among LaBarge, Inc., LaBarge Electronics, Inc. and LaBarge Acquisition Company, Inc., as borrowers, U.S. Bank National Association and Wells Fargo Bank, National Association, as lenders, and U.S. Bank National Association, as agent for the lenders (filed as Exhibit 10.1 to the Registrant’s Form 8-K filed with the Securities and Exchange Commission on January 4, 2011, and incorporated herein by reference). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.2   | Term Loan Promissory Note - LaBarge Acquisition Company, Inc. and U.S. Bank National Association (filed as Exhibit 10.2 to the Registrant’s Form 8-K filed with the Securities and Exchange Commission on January 4, 2011, and incorporated herein by reference).                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.3   | Term Loan Promissory Note - LaBarge Acquisition Company, Inc. and Wells Fargo Bank, National Association (filed as Exhibit 10.3 to the Registrant’s Form 8-K filed with the Securities and Exchange Commission on January 4, 2011, and incorporated herein by reference).                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.4   | Term Loan Promissory Note - LaBarge Electronics, Inc. and U.S. Bank National Association (filed as Exhibit 10.4 to the Registrant’s Form 8-K filed with the Securities and Exchange Commission on January 4, 2011, and incorporated herein by reference).                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.5   | Term Loan Promissory Note - LaBarge Electronics, Inc. and Wells Fargo Bank, National Association (filed as Exhibit 10.5 to the Registrant’s Form 8-K filed with the Securities and Exchange Commission on January 4, 2011, and incorporated herein by reference).                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 31.1   | Certification by Chief Executive Officer pursuant to Exchange Act Rule 13a-14 and 15d-14, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 31.2   | Certification by Chief Financial Officer pursuant to Exchange Act Rule 13a-14 and 15d-14, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 32.1   | Certification by Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 32.2   | Certification by Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                     |

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|                                                                                                                                                                                                                          |                                            |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------|
|                                                                                                                                                                                                                     | LaBarge, Inc.                              |
|                                                                                                                                                                                                                     |                                       |
| Date:                                                                                                                                                                                                     | February 4, 2011                           |
|                                                                                                                                                                                                                     |                                       |
| By:                                                                                                                                                                                                            | /S/DONALD H. NONNENKAMP                    |
| Name:                                                                                                                                                                                                          | Donald H. Nonnenkamp                       |
|                                      | Vice President and Chief Financial Officer |
|                                                                                                                                                                                                                     | Principal Financial Officer                |