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                     SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.    20549

                                FORM 10-Q                                

[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
                     SECURITIES EXCHANGE ACT OF 1934 
                                    
                For the quarter ended September 30, 1997

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

                    Commission file     Number 0-8287
                          LINDBERG CORPORATION
                                    

         DELAWARE                                36-1391480           
 ----------------------                 -------------------------------
 State of Incorporation                 IRS Employer Identification No.
 

                      6133 North River Road, Suite 700
                          Rosemont, Illinois 60018
                               (847) 823-2021


Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.


                     Yes    X            No       
                          ------       ------

The number of shares of the Registrant's Common Stock outstanding as of 
November 10, 1997 was:  4,833,766.

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                                      -2-

                    LINDBERG CORPORATION AND SUBSIDIARIES

                              TABLE OF CONTENTS



         Part I  Financial Information:                           Page No.
                                                                  --------
Item 1.  Consolidated Statements of Earnings - Three Months
           and Nine Months Ended September 30, 1997 and 1996.......  3

         Consolidated Balance Sheets - As of September 30, 1997 and
           December 31, 1996.......................................  4

         Consolidated Statements of Cash Flows - Nine Months
           Ended September 30, 1997 and 1996.......................  5

         Notes to the Consolidated Financial Statements ...........  6

Item 2.  Management's Discussion and Analysis of Financial 
           Condition and Results of Operations ....................  7


         Part II  Other Information:

Item 6.  Exhibits and Reports on Form 8-K ......................... 10

         Signatures ............................................... 11

         Exhibit Index ............................................ 12
        
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                                      -3-


                     LINDBERG CORPORATION AND SUBSIDIARIES 
                          PART I FINANCIAL INFORMATION  
                      CONSOLIDATED STATEMENTS OF EARNINGS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                             Three Months Ended       Nine Months Ended
                                September 30,           September 30,      
                         ------------------------  ------------------------
                            1997         1996         1997         1996
                         -----------  -----------  -----------  -----------
<S>                      <C>          <C>          <C>          <C>
Net Sales                $29,125,180  $26,759,194  $88,670,994  $86,600,205
Cost of Sales            (23,515,456) (21,210,418) (70,781,450) (68,723,988)
                         -----------  -----------  -----------  -----------
  Gross Profit             5,609,724    5,548,776   17,889,544   17,876,217 

Selling and    
Administrative Expenses   (3,567,593)  (3,609,972) (11,032,876) (10,965,231) 
Equity in Earnings of
Partnership                  605,582      262,238    1,436,328      652,597
                         -----------  -----------  -----------  -----------
  Operating Earnings       2,647,713    2,201,042    8,292,996    7,563,583  
        
Interest Expense - Net      (390,510)    (406,016)  (1,143,500)  (1,205,648) 
                         -----------  -----------  -----------  -----------
  Earnings Before        
  Income Taxes             2,257,203    1,795,026    7,149,496    6,357,935    

Provision for
Income Taxes                (908,920)    (726,965)  (2,890,192)  (2,574,818) 
                         -----------  -----------  -----------  -----------
  Net Earnings           $ 1,348,283  $ 1,068,061  $ 4,259,304  $ 3,783,117
                         ===========  ===========  ===========  ===========
Primary Earnings 
Per Share                $       .27  $       .22  $       .87  $       .78    
                         ===========  ===========  ===========  ===========
Fully-Diluted Earnings
Per Share                $       .27  $       .22  $       .86  $       .77     
                         ===========  ===========  ===========  ===========

Weighted Average
Shares Outstanding
and Equivalents:
Primary                  $ 4,940,781  $ 4,879,593  $ 4,898,043  $ 4,852,895
                         ===========  ===========  ===========  ===========
        
Fully-Diluted            $ 4,969,814  $ 4,897,951  $ 4,962,095  $ 4,883,535
                         ===========  ===========  ===========  ===========
Cash Dividends
Declared and Paid        $       .08  $       .07  $       .24  $       .21 
                         ===========  ===========  ===========  ===========          
</TABLE>

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                     LINDBERG CORPORATION AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                September 30,  December 31,
                                                     1997         1996
                                                 (Unaudited)              
                                                 -----------   -----------
<S>                                              <C>           <C>
CURRENT ASSETS:
  Cash                                           $   117,949   $    51,992
  Accounts Receivable - Net                       16,819,983    15,419,945
  Inventories                                           
    Raw Material                                   1,179,152       726,870
    Work in Process                                2,366,319     1,753,574
    Finished Goods                                   599,026       541,064
  Prepaid and Refundable Income Taxes              1,580,516     1,687,534
  Note Receivable                                         --     1,102,600
  Prepaid Expenses and Other Current Assets        3,572,409     4,745,419
                                                 -----------   -----------
    Total Current Assets                          26,235,354    26,028,998
PROPERTY AND EQUIPMENT:
  Cost                                           109,927,228   104,100,559
  Accumulated Depreciation                       (61,270,772)  (59,137,724)
                                                 -----------   -----------
    Net Property and Equipment                    48,656,456    44,962,835

  Goodwill                                         5,235,789     2,973,212 
  Investment in Partnership                        2,095,960     1,607,632
  Other Non-Current Assets                         2,538,960     2,521,855 
                                                 -----------   -----------
TOTAL ASSETS                                     $84,762,519   $78,094,532
                                                 ===========   ===========

CURRENT LIABILITIES:
  Current Maturities on Long-Term Debt           $    49,780   $    53,565
  Notes Payable                                    1,900,000       901,437
  Accounts Payable                                 6,106,423     5,553,376
  Accrued Expenses                                 6,562,512     6,104,228   
                                                 -----------   -----------
    Total Current Liabilities                     14,618,715    12,612,606

NON-CURRENT LIABILITIES:
  Deferred Income Taxes                            7,027,504     6,847,504
  Long-term Debt (less Current Maturities)        21,514,343    20,759,150
  Accrued Pension                                  3,031,649     3,148,114
  Other Non-Current Liabilities                    2,220,550     1,680,256
                                                 -----------   -----------
    Total Non-Current Liabilities                 33,794,046    32,435,024

STOCKHOLDERS' EQUITY:
  Common Shares, $2.50 par value:                 14,183,493    14,183,493
   Authorized 12,000,000 shares in 1997 and 
   1996. Issued 5,673,397 shares in 1997  
   and 1996
  Additional Paid-In Capital                       1,508,932     1,493,406
  Retained Earnings                               25,760,093    22,652,574
  Treasury Shares (862,431 in 1997      
   and 894,256 in 1996), at Cost                  (4,874,840)   (5,054,651)
  Underfunded Pension Liability Adjustment          (227,920)     (227,920)     
    Total Stockholders' Equity                    36,349,758    33,046,902   
                                                 -----------   -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY       $84,762,519   $78,094,532
                                                 ===========   ===========
</TABLE>
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                    LINDBERG CORPORATION AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)

<TABLE>
<CAPTION>
                                                    Nine Months Ended   
INCREASE (DECREASE) IN CASH                           September 30,           
                                                 --------------------------
                                                     1997          1996
                                                 ------------   -----------
<S>                                              <C>            <C>
Cash Flows from Operating Activities:
Net Earnings                                     $  4,259,304   $ 3,783,117   
Adjustments to Reconcile Net Earnings 
 to Net Cash Provided by (Used in)
 Operating Activities:
Depreciation                                        4,342,662     4,188,091    
Increase in Deferred Taxes                            180,000       180,000
Change in Assets and Liabilities                      844,921    (2,607,167)
                                                 ------------   -----------
Total Adjustments to Reconcile Net Earnings
 to Net Cash Provided by Operating Activities       5,367,583     1,760,924
                                                 ------------   -----------
  Net Cash Provided by Operating Activities         9,626,887     5,544,041

Cash Flows from Investing Activities:
Capital Expenditures                               (7,415,088)   (5,337,497)  
Proceeds from Note Receivable for
 Sale of Wire Belt Operation                        1,102,600            --
Increase in Investment of Thixomat, Inc.              (46,627)           --
Payment for Purchase of Vac-Hyd                            --    (2,370,000)
Payment for Purchase of Ticorm                     (3,800,000)           -- 
                                                 ------------   -----------
  Net Cash Used in Investing Activities           (10,159,115)   (7,707,497)

Cash Flows from Financing Activities: 
Net Borrowings Under Revolving Credit Agreement       800,000     2,100,000   
Note Payable for Purchase of Vac-Hyd                 (901,437)      970,000     
Note Payable for Purchase of Ticorm                 1,900,000            --
Payments of Capital Lease Obligations                 (48,592)      (72,025)   
Dividends Paid                                     (1,151,786)     (996,976)
                                                 ------------   -----------           
  Net Cash Provided by Financing Activities           598,185     2,000,999
     
Net Increase (Decrease) in Cash                        65,957      (162,457)
Cash at Beginning of Period                            51,992       200,171   
                                                 ------------   -----------
Cash at End of Period                            $    117,949   $    37,714  
                                                 ============   ===========

Supplemental Disclosures of Cash Flow Information:
  Interest Paid                                  $  1,032,721   $ 1,062,037  
  Income Taxes Paid - Net of Refunds                2,599,094     2,584,357
</TABLE>

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                     LINDBERG CORPORATION AND SUBSIDIARIES


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS:

NOTE 1    The condensed consolidated financial statements included herein have
          been prepared by the Company, without audit, pursuant to the rules    
          and regulations of the Securities and Exchange Commission.        
          Certain information and footnote disclosures normally included in
          financial statements prepared in accordance with generally     
          accepted accounting principles have been condensed or omitted     
          pursuant to such rules and regulations, although the Company      
          believes that the disclosures are adequate to make the information
          presented not misleading.  It is suggested that these condensed
          financial statements be read in conjunction with the financial
          statements and the notes thereto included in the Company's latest
          annual report on Form 10-K. 

          Statements for the three month and nine month periods ended September
          30, 1997 and September 30, 1996 reflect, in the opinion of the
          Company, all adjustments (consisting only of normal recurring
          accruals) necessary to present fairly the results of these periods.
          Results for interim periods are not necessarily indicative of results
          for a full year. 

NOTE 2    No material changes have occurred with respect to the Company's
          contingent liabilities outlined in the Company's 1996 10-K through
          the date of this report.

NOTE 3    On July 31, 1997, the Company acquired all of the outstanding common
          stock of Ticorm, Inc. for $3.8 million, which included cash and
          notes payable.  Ticorm is a heat treating and forming facility
          located in the Los Angeles area.

NOTE 4    On October 1, 1997, the Company acquired the remaining 50% share of
          its joint venture partnership - Alumatherm Heat Treating Company -
          from its partners.  The purchase price for the buyout of the
          partners' interest was $13 million, and was funded with additional
          borrowings under the Company's revolving credit agreement and notes
          payable provided to the selling parties.

NOTE 5    On October 1, 1997, the Company amended its revolving credit
          agreement to expand its line of credit by $10 million, to $35
          million, and to amend certain covenants contained therein.  The
          agreement will expire in April 1999 unless renewed.  The Company
          may choose from two interest rate alternatives - the bank's
          reference rate (prime rate) and a rate based on the Eurodollar.
          The revolving credit agreement contains various covenants which,
          among others, restrict the ability of the Company to pay dividends
          beyond certain limits and require the Company to meet certain
          financial ratios.

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ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS 

          OF FINANCIAL CONDITION:

          At September 30, 1997, the Company's total debt was $23.5 million, an
          increase of $3.4 million from $20.1 million outstanding as of 
          June 30, 1997.  The Company's total debt to capitalization ratio was
          39% at the close of the third quarter in 1997 versus 36% at the end
          of the prior quarter.

          The level of debt increased in the quarter primarily as a result of
          the acquisition of Ticorm, Inc. ("Ticorm") on July 31, 1997 for a
          purchase price of $3.8 million, which was funded through additional
          borrowings under the Company's revolving credit agreement and notes
          payable provided to the selling parties.  The effect of the purchase
          of Ticorm was offset to a degree by cash generated through operations
          during the period, which was used to repay debt.

          Capital expenditures for the first nine months of 1997 were 
          $7.4 million, 39% above the $5.3 million recorded in the same period
          of 1996.  The increase in spending in 1997 related primarily to the
          completion of equipment installation projects under the Company's
          Strategic Partnership 2000 facilities program and additional
          furnaces/equipment for expansion at certain heat treating divisions.

          On July 28, 1997, the Board of Directors declared a cash dividend of
          $.08 on each share of the Company's common stock, payable on
          September 10, 1997.  The total cash dividends paid on the latter date
          were $385,000, bringing to $1.2 million the total cash outlay for
          dividends to stockholders in the first nine months of 1997.  The nine
          month figure for this year was 16% above the $1.0 million paid out
          for the same period in 1996.

          The Company believes that its borrowing capacity and funds generated
          through operations will be sufficient to meet currently foreseen
          capital investment and working capital needs in support of existing 
          businesses for the balance of 1997 and in the longer term.


          OF RESULTS OF OPERATIONS:

          Quarter ended September 30, 1997 and 1996

          Sales for the quarter ended September 30, 1997 were $29.1 million, up
          $2.4 million, or 9%, from $26.8 million for the same three month
          period in 1996.  Sales within the Company's Heat Treating business
          segment rose by 14% in comparison to the third quarter of 1996, while
          Precision Products segment sales fell 3% in comparison to the third
          quarter of the prior year.



<PAGE> 8
                                      -8-

          Revenues rose within the Heat Treating segment due mainly to the
          acquisition of Ticorm on July 31, 1997, and the continued strength of
          many of the segment's served markets - particularly the commercial
          aerospace industry.  Sales within the Precision Products segment
          overall were down slightly in comparison to the year-ago period due
          to the sale of a wire-belting product line in the fourth quarter of
          1996, thereby eliminating those sales for 1997.  Revenues of current
          Precision Products operations rose 13% this year versus the third
          quarter of 1996.  For the third quarter of 1997, Heat Treating
          segment sales represented 72% of total Company sales.

          The Company's gross profit percentage in the third quarter of 1997
          was 19.3% in comparison to 20.7% in the same period of 1996 as gross
          margins were lower within each segment for the period.  However, an 
          increase in the overall percentage of sales contributed by the higher
          margin Heat Treating segment in 1997 partially offset the overall
          effect of the reductions in each segment.

          Operating earnings for the Company improved to $2.6 million in the
          third quarter of 1997 from $2.2 million in the prior year.  Operating
          earnings gains within the Heat Treating segment were offset somewhat
          by lower results from Precision Products businesses overall.  During
          the 1997 quarter, the Precision Products segment recorded an
          operating loss of $374,000.

          Earnings from the Heat Treating segment improved in comparison to the
          third quarter of 1996 in part due to the gain in revenues experienced
          in the period.  In addition, equity earnings from a heat treating
          partnership - Alumatherm Heat Treating Company ("Alumatherm") -
          increased to $606,000 from $262,000 in the year ago period, thereby
          enhancing the segment's results.

          Reflecting the above issues, net earnings in the third quarter of
          1997 of $1.3 million, or $.27 per share, increased from $1.1 million,
          or $.22 per share, for the same three month period of 1996.

          Nine months ended September 30, 1997 and 1996
             
          Sales for the first nine months of 1997 were $88.7 million, up 
          $2.1 million, or 2%, from $86.6 million for the same period of 1996. 
          This overall increase in revenues reflects a 14% improvement within
          the Heat Treating business segment, partially offset by a 17% decline
          from Precision Products operations.  For the nine month period, sales
          from the Heat Treating segment represented 70% of total Company
          sales.

          The decrease in Precision Products sales year-over-year related to
          reduced revenue at the Company's Impact Industries division, and to a
          lesser degree, from the sale of a wire-belting product line in
          December 1996, which thereby eliminated those revenues from 1997
          results.  Heat Treating segment revenues increased in comparison to
          the prior year due to continued strength in many of the segment's
          markets, higher sales from Strategic Partnership 2000 projects and
          the acquisition of Ticorm.

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                                      -9-

          The Company's overall gross profit percentage decreased slightly to
          20.2% from 20.6% in the nine month 1996 period.  A lower gross margin
          from the Precision Products segment was largely offset by the effect
          of a higher proportion of overall Company sales from the higher
          margin Heat Treating segment.  Heat Treating segment gross margins
          were level year-to-year.

          Company operating earnings rose to $8.3 million for the first nine
          months of 1997 as compared to $7.6 million in the same nine month
          period of 1996.  The 1997 results include $1.4 million in equity
          earnings from Alumatherm while $0.7 million was included for the same
          period of last year.  On a year-to-date basis in 1997, the Precision
          Products business segment recorded an operating loss of $1.0 million,
          due largely to weak results at the segment's Impact Industries
          division.

          Net earnings of $4.3 million, or $.87 per share, improved from $3.8
          million, or $.78 per share, in the first nine months of 1996.

          SUBSEQUENT EVENTS:

          On October 1, 1997, the Company acquired the remaining 50% share of
          its joint venture partnership - Alumatherm - from its partners.  The
          purchase price for the buyout of the partners' interest was $13
          million, and was funded with additional borrowings under the
          Company's revolving credit agreement and notes payable provided to
          the selling parties.

          Effective October 1, 1997, the Company's revolving credit agreement
          with its banks was amended to increase the total borrowing facility
          from $25 million to $35 million and to adjust certain loan covenants. 
          At the close of October 1997, the Company had $17 million of
          available borrowing capacity under its amended revolving credit
          agreement.

          On October 20, 1997, the Company announced that it was evaluating
          strategic alternatives for all of its Precision Products segment
          businesses.  The possibilities being considered include strategic
          partnerships, spinoff or sale.




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PART II. OTHER INFORMATION

ITEM 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits Required by Item 601 of Regulation S-K - Exhibits
              required by Item 601 of Regulation S-K are listed in the 
              Exhibit Index which is attached hereto at page 12 and
              which is incorporated herein by reference.
        
         (b)  Reports on Form 8-K - There were no reports on Form 8-K
              filed in the three months ended September 30, 1997.               
                           




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                                 SIGNATURES


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




                                             LINDBERG CORPORATION






  Principal Financial and Accounting         By    Stephen S. Penley        
  Officer:                                     ----------------------------
                                                   Stephen S. Penley
                                                Senior Vice President          
                                                and Chief Financial Officer
                                                    
                                                   

                                                                             
                                                                        











  Dated: November 14, 1997



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                      LINDBERG CORPORATION AND SUBSIDIARIES
                          Quarterly Report on Form 10-Q
                    for the Quarter Ended September 30, 1997

                                  Exhibit Index

                                                            
  Number and Description of Exhibit                      
  ---------------------------------
    11.  Statement recomputation of per share earnings      Attached           
                                        
    27.  Financial Data Schedule                            Attached