UNITED STATES
                     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 quarterly period ended MARCH 31, 2006 or


      /   /   TRANSITION REPORT pursuant to Section 13 or 15(d)
                   of the Securities Exchange Act of 1934


              For the transition period from _______ to _______


                        Commission File Number 1-9788


                               LANDAUER, INC.
           ------------------------------------------------------
           (Exact name of registrant as specified in its charter)



              Delaware                                  06-1218089
   -------------------------------                ----------------------
   (State or other jurisdiction of                   (I.R.S. Employer
   incorporation or organization)                 Identification Number)



                  2 Science Road, Glenwood, Illinois 60425
            -----------------------------------------------------
            (Address of principal executive offices and Zip Code)


Registrant's telephone number, including area code (708) 755-7000

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 [  ]

Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, or a non-accelerated filer.  See definition of
"accelerated filer and large accelerated filer" in Rule 12b-2 of the
Exchange Act.

          Large accelerated filer [  ]     Accelerated filer [ X ]
                         Non-accelerated filer [  ]

Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Act).  Yes [  ]  No [ X ]

Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

                Class                          Outstanding at April 25, 2006
    ----------------------------               -----------------------------

    Common stock, $.10 par value                         9,077,606

                                      1


<PAGE>


PART I.  FINANCIAL INFORMATION

    ITEM 1.  FINANCIAL STATEMENTS

                       LANDAUER, INC. AND SUBSIDIARIES
                   Consolidated Balance Sheets (Unaudited)
                        (000's, except share amounts)



                                            March 31,      September 30,
                                              2006             2005
                                           ------------    -------------
ASSETS
------

Current assets:
  Cash and cash equivalents. . . . . .       $   10,381      $     9,598
  Receivables, net of allowances of
    $548 and $408, respectively. . . .           18,921           17,987
  Inventories. . . . . . . . . . . . .            2,799            2,634
  Prepaid expenses and other
    current assets . . . . . . . . . .            3,179            2,703
  Prepaid income taxes . . . . . . . .            1,388            1,153
  Deferred income taxes. . . . . . . .            1,568            1,514
                                             ----------       ----------
        Current assets . . . . . . . .           38,236           35,589

Property, plant and equipment,
  at cost. . . . . . . . . . . . . . .           45,257           43,401
    Less: Accumulated depreciation
      and amortization . . . . . . . .           27,874           25,494
                                             ----------       ----------
Net property, plant and
  equipment. . . . . . . . . . . . . .           17,383           17,907

Equity in joint venture. . . . . . . .            3,583            4,467
Goodwill . . . . . . . . . . . . . . .           13,275           13,261
Other intangible assets, net of
  amortization . . . . . . . . . . . .            6,660            6,926
Dosimetry devices, net of
  amortization of $7,125 and
  $5,911, respectively . . . . . . . .            6,875            6,537
Other assets . . . . . . . . . . . . .              818            1,172
                                             ----------       ----------
                                             $   86,830       $   85,859
                                             ==========       ==========





















 The accompanying notes are an integral part of these financial statements.

                                      2


<PAGE>


                      LANDAUER, INC. AND SUBSIDIARIES
              Consolidated Balance Sheets (Unaudited) (Cont'd.)
                        (000's, except share amounts)



                                            March 31,      September 30,
                                              2006             2005
                                           ------------    -------------

LIABILITIES AND
SHAREHOLDERS' INVESTMENT
------------------------

Current liabilities:
  Accounts payable . . . . . . . . . .       $    1,941       $    1,595
  Notes payable. . . . . . . . . . . .            3,552            4,048
  Dividends payable. . . . . . . . . .            4,067            3,815
  Deferred contract revenue. . . . . .           13,073           12,702
  Accrued compensation and
    related costs. . . . . . . . . . .            1,779            2,329
  Accrued pension costs. . . . . . . .              863              864
  Accrued taxes on income. . . . . . .               50              444
  Other accrued expenses . . . . . . .            4,171            4,036
                                             ----------       ----------
        Current liabilities. . . . . .           29,496           29,833

Non-current liabilities:
  Pension and postretirement
    obligations. . . . . . . . . . . .            7,353            7,062
  Deferred income taxes. . . . . . . .              190              238
                                             ----------       ----------
        Non-current liabilities. . . .            7,543            7,300

  Minority interest in subsidiary. . .              113              128

Shareholders' investment:
  Preferred stock, $.10 par
    value per share -
    Authorized - 1,000,000 shares;
    Outstanding - None . . . . . . . .               --               --
  Common stock, $.10 par value
    per share -
    Authorized - 20,000,000 shares;
    Outstanding - 9,049,814 shares
      at 03/31/06 and 9,029,793
      shares at 09/30/05 . . . . . . .              905              903

  Premium paid in on common stock. . .           17,348           17,147

  Accumulated other comprehensive
    loss . . . . . . . . . . . . . . .             (621)            (375)

  Retained earnings. . . . . . . . . .           32,046           30,923
                                             ----------       ----------
        Shareholders' investment . . .           49,678           48,598
                                             ----------       ----------
                                             $   86,830       $   85,859
                                             ==========       ==========









 The accompanying notes are an integral part of these financial statements.

                                      3


<PAGE>


                       LANDAUER, INC. AND SUBSIDIARIES
                Consolidated Statements of Income (Unaudited)
                      (000's, except per share amounts)



                              Three Months Ended       Six Months Ended
                            ----------------------  ----------------------
                             March 31,   March 31,   March 31,   March 31,
                               2006        2005        2006        2005
                            ----------  ----------  ----------  ----------

Revenues, net of sales
  allowances . . . . . . .  $   20,621  $   19,706  $   39,268  $   38,031

Costs and expenses:
  Cost of sales. . . . . .       7,486       7,262      14,919      14,356
  Selling, general and
    administrative . . . .       4,501       4,540       9,655       9,051
  Reorganization charge. .         600          --         600          --
                            ----------  ----------  ----------  ----------
                                12,587      11,802      25,174      23,407
                            ----------  ----------  ----------  ----------
Operating income . . . . .       8,034       7,904      14,094      14,624

Equity in income of
  joint venture. . . . . .         360         325         726         682
Other income (expense),
  net. . . . . . . . . . .         100           7         150         (38)
                            ----------  ----------  ----------  ----------

Income before taxes. . . .       8,494       8,236      14,970      15,268

Income taxes . . . . . . .       3,203       3,072       5,633       5,658
                            ----------  ----------  ----------  ----------

Income before
  minority interest. . . .       5,291       5,164       9,337       9,610
Minority interest. . . . .          43          21          82          37
                            ----------  ----------  ----------  ----------

Net income . . . . . . . .  $    5,248  $    5,143  $    9,255  $    9,573
                            ==========  ==========  ==========  ==========

Net income per share:
  Basic. . . . . . . . . .  $     0.58  $     0.57  $     1.03  $     1.07
                            ==========  ==========  ==========  ==========
  Based on average
    shares outstanding . .       9,021       8,956       9,016       8,952
                            ==========  ==========  ==========  ==========

  Diluted. . . . . . . . .  $     0.58  $     0.57  $     1.02  $     1.06
                            ==========  ==========  ==========  ==========
  Based on average
    shares outstanding . .       9,098       9,025       9,094       9,022
                            ==========  ==========  ==========  ==========












 The accompanying notes are an integral part of these financial statements.

                                      4


<PAGE>


                       LANDAUER, INC. AND SUBSIDIARIES
              Consolidated Statements of Cash Flows (Unaudited)
                      (000's, except per share amounts)



                                                       Six Months Ended
                                                    ----------------------
                                                     March 31,   March 31,
                                                       2006        2005
                                                    ----------  ----------
Cash flows from operating activities:
  Net income . . . . . . . . . . . . . . . . . . .  $    9,255  $    9,573

Adjustments to reconcile net income to
  net cash provided by operating activities:
    Depreciation . . . . . . . . . . . . . . . . .       3,765       3,102
    Amortization . . . . . . . . . . . . . . . . .         323         319
    Equity in net income of foreign
      affiliate. . . . . . . . . . . . . . . . . .        (726)       (682)
    Non-cash equity award compensation . . . . . .         338          --
    Income tax benefit from the exercise
      of stock options . . . . . . . . . . . . . .           1         166
    Excess income tax benefit from the
      exercise of stock options. . . . . . . . . .          (9)         --
    Loss on sale and disposition of assets . . . .           7          --
    Increase in accounts receivable, net . . . . .        (903)     (2,853)
    Increase in other current assets . . . . . . .        (717)       (949)
    Increase in dosimetry devices at cost. . . . .      (1,570)     (2,007)
    Increase in other long-term assets . . . . . .        (284)       (235)
    Decrease in accounts payable and
      other current liabilities. . . . . . . . . .        (501)       (191)
    Increase (decrease) in deferred contract
      revenue. . . . . . . . . . . . . . . . . . .         348         (33)
    Increase in long-term liabilities. . . . . . .          72         941
    Increase in minority interest. . . . . . . . .          82          46
                                                    ----------  ----------
    Net cash provided by operating activities. . .       9,481       7,197

Cash flows used by investing activities:
    Acquisition of property, plant
      and equipment. . . . . . . . . . . . . . . .      (2,006)     (1,830)
                                                    ----------  ----------
    Net cash used by investing activities. . . . .      (2,006)     (1,830)

Cash flows used by financing activities:
    Payments on revolving credit facilities. . . .        (520)       (564)
    Dividends paid to minority interest. . . . . .        (102)        (85)
    Dividends paid to stockholders . . . . . . . .      (7,881)     (7,381)
    Proceeds from the exercise of
      stock options. . . . . . . . . . . . . . . .       1,798         200
    Excess income tax benefit from the
      exercise of stock options. . . . . . . . . .           9          --
                                                    ----------  ----------
    Net cash used by financing activities. . . . .      (6,696)     (7,830)

    Effects of foreign currency translation. . . .           4         211
                                                    ----------  ----------
    Net increase (decrease) in cash and
      cash equivalents . . . . . . . . . . . . . .         783      (2,252)

    Opening balance - cash and cash equivalents. .       9,598       8,595
                                                    ----------  ----------
    Ending balance - cash and cash equivalents . .  $   10,381  $    6,343
                                                    ==========  ==========



 The accompanying notes are an integral part of these financial statements.

                                      5


<PAGE>


                       LANDAUER, INC. AND SUBSIDIARIES
           Notes to Consolidated Financial Statements (Unaudited)
                               March 31, 2006



(1)   BASIS OF PRESENTATION

      The accompanying unaudited consolidated financial statements reflect
the financial position of Landauer, Inc. and subsidiaries ("Landauer" or
"the Company") as of March 31, 2006 and September 30, 2005, and the
consolidated results of operations and cash flows for the three and six-
month periods ended March 31, 2006 and 2005.  In the opinion of management,
the accompanying unaudited consolidated financial statements contain all
adjustments necessary to present fairly the consolidated financial position
of the Company and its consolidated results of operations and cash flows.

      Certain prior year amounts have been reclassified to conform to
current year presentation.  These reclassifications have no effect on
previously reported net income or financial position.

      The results of operations for the three and six-month periods ended
March 31, 2006 and 2005 are not necessarily indicative of the results to be
expected for the full year.  The year-end condensed balance sheet data was
derived from audited financial statements, but does not include all
disclosures required by accounting principles generally accepted in the
United States of America.

      The accounting policies followed by the Company are set forth in the
2005 Landauer Annual Report on Form 10-K.  The only significant source of
revenues for the Company is radiation measuring and monitoring services
including other services incidental to measuring and monitoring.  The
services provided by the Company to its customers are of a subscription
nature and are continuous.  The Company views its business as services
provided to customers over a period of time and the wear period is the
period over which those services are provided.  Badge production, wearing
of badges, badge analysis, and report preparation are integral to the
benefit that the Company provides to its customers.  These services are
provided to customers on an agreed-upon recurring basis (generally monthly,
bi-monthly or quarterly) that the customer chooses for the wear period.
Revenue is recognized on a straight-line basis, adjusted for changes in
pricing and volume, over the wear period as the service is continuous and
no other discernible pattern of recognition is evident.  Revenues are
recognized over the periods in which the customers wear the badges
irrespective of whether invoiced in advance or in arrears.  Ancillary
service revenues are recognized upon delivery of the reports to customers
or as other such services are provided.


(2)   CASH DIVIDENDS

      On March 3, 2006, the Company declared a regular quarterly cash
dividend in the amount of $0.45 per share payable on April 7, 2006, to
shareholders of record on March 17, 2006.  On November 28, 2005, the
Company declared a regular quarterly cash dividend in the amount of $0.45
per share payable on January 6, 2006, to shareholders of record on
December 16, 2005.  Regular quarterly cash dividends of $0.425 per share,
or $1.70 annually, were declared during fiscal 2005.












                                      6


<PAGE>


(3)   COMPREHENSIVE INCOME

      The components of accumulated other comprehensive loss included in
the accompanying unaudited consolidated balance sheet at March 31, 2006
consist of net minimum pension liability adjustments and cumulative
translation adjustments. The following table sets forth the Company's
comprehensive income and its components for the three and six-month periods
ended March 31, 2006 and 2005 (000's):

                              Three Months Ended       Six Months Ended
                                    March 31,               March 31,
                             ---------------------   ---------------------
                               2006        2005        2006        2005
                             ---------   ---------   ---------   ---------

Net income . . . . . . . .   $   5,248   $   5,143   $   9,255   $   9,573

Other comprehensive
 income (loss):. . . . . .
    Foreign currency
      translation
      adjustments. . . . .          77         636       (246)         120
                             ---------   ---------   ---------   ---------
Comprehensive income . . .   $   5,325   $   5,779   $   9,009   $   9,693
                             =========   =========   =========   =========


(4)   EARNINGS PER SHARE

      Basic earnings per share were computed by dividing net income by the
weighted average number of common shares outstanding during each period.
Diluted earnings per share were computed by dividing net income by the
weighted average number of shares of common stock that would have been
outstanding assuming dilution from share-based awards during each period.

      The following table presents the weighted average number of shares of
common stock for the three and six-month periods ended March 31, 2006 and
2005 (000's):

                              Three Months Ended       Six Months Ended
                                    March 31,               March 31,
                             ---------------------   ---------------------
                               2006        2005        2006        2005
                             ---------   ---------   ---------   ---------
Weighted average number
  of shares of common
  stock outstanding. . . .       9,021       8,956       9,016       8,952
Dilutive equity awards . .          77          69          78          70
                             ---------   ---------   ---------   ---------

Weighted average number
  of shares of common
  stock assuming dilution.       9,098       9,025       9,094       9,022
                             =========   =========   =========   =========


(5)   SHARE-BASED COMPENSATION

      The Company maintains three share-based compensation plans for key
employees and/or non-employee directors: (i) the Landauer, Inc. 1996 Equity
Plan, as amended and restated through November 8, 2001 (the "1996 Equity
Plan"); (ii) the Landauer, Inc. 1997 Non-Employee Director's Stock Option
Plan, as amended and restated through November 8, 2001 (the "1997
Director's Plan"); and (iii) the Landauer, Inc. 2005 Long-Term Incentive
Plan (the "2005 LTI Plan").  As of February 3, 2005, the 2005 LTI Plan
replaced the 1996 Equity Plan and the 1997 Director's Plan.  As of
March 31, 2006, the following types of share-based awards were outstanding
under these plans: stock options, restricted stock awards, and performance
share awards.

                                      7


<PAGE>


      Effective October 1, 2005, the Company adopted Statement of Financial
Accounting Standards ("SFAS") No. 123R, "Share-Based Payment", which
requires all share-based payments to employees, including grants of
employee stock options, to be recognized as compensation expense in the
consolidated financial statements, based on their fair values and over the
requisite service periods.  The Company elected to utilize the modified-
prospective application method as permitted by SFAS 123R and the Black-
Scholes option pricing model to determine the fair value for stock options
issued prior to September 30, 2005.  Under this method, share-based
compensation expense includes: (a) compensation expense for all share-based
compensation awards granted prior to, but not yet vested as of September
30, 2005, using the grant-date fair value estimated in accordance with the
original provisions of SFAS 123, "Accounting for Stock-Based Compensation";
and (b) compensation expense for all share-based compensation awards
granted subsequent to September 30, 2005, using the grant-date fair value
estimated in accordance with the provisions of SFAS 123R.

      The Company recorded $338,000 of non-cash compensation expense thus
far in fiscal 2006, including $203,000 recorded in the second fiscal
quarter.  This expense has been included in general and administrative
expenses.  The total income tax benefit recognized related to share-based
compensation for the six months ended March 31, 2006 was $113,000,
including $76,000 recorded for the three months ended March 31, 2006.  As
of March 31, 2006, total unrecognized compensation costs related to non-
vested awards was approximately $895,000, net of estimated forfeitures,
which is expected to be recognized over a weighted average period of
approximately 1.3 years.

STOCK OPTIONS

      Under the 1996 Equity Plan the Company may grant stock options, as
well as other equity awards, for up to 1,350,000 shares.  Under the 1997
Director's Plan, the Company may grant stock options for up to 100,000
shares.  Under each plan, the option exercise price equals the stock's fair
market value on the date of the grant.  Options granted under the 1996
Equity Plan vest over varying periods of time and may include sale
restrictions. Options granted during fiscal 2005 under the 1996 Equity Plan
vested immediately and sale of shares realized through exercise of such
options was prohibited for three years from the date of grant.  The initial
grant of options in 1997 under the 1997 Director' Plan vests ratably over
ten years and subsequent grants vest ratably over three years.  The term of
all options granted under these two plans is for a period of ten years. All
options granted under these two plans have been non-qualified options.
Grants of any awards under the 1996 Equity Plan and the 1997 Director's
Plan were terminated on February 3, 2005, and any shares reserved for award
and unused were cancelled.

      In February 2005, the Company adopted the 2005 LTI Plan, following
shareholder approval, and reserved 500,000 shares of its common stock for
grant under the plan. Eligible participants include key employees and
officers of the Company and non-employee directors. This plan provides for
the grant of stock options (incentive or non-qualified), stock shares
(restricted, restricted stock units, performance shares and performance
share units), performance units, and stock appreciation rights, either
separately or in relation to options granted.  Options granted during
fiscal 2005 under this plan vested immediately and sales of shares realized
through exercise of such options were prohibited for three years from the
date of grant.  The term of all options granted under this plan is for a
period of ten years.

      The fair value of each option award was estimated on the date of
grant using the Black-Scholes option-pricing model.  No grants of stock
options were awarded in the second quarters of fiscal 2006 or 2005.







                                      8


<PAGE>


      A summary of stock option activity during the three months ended
March 31, 2006 is presented below:

                                                Weighted-
                                                 Average
                                   Weighted-    Remaining      Aggregate
                                   Average     Contractual     Intrinsic
                         Shares    Exercise       Term           Value
                         (000s)      Price       (years)        (000s)
                         ------    ---------  -------------   ----------

Outstanding at
  December 31, 2005. . .    533     $ 40.88
Exercised. . . . . . . .     (6)      48.03
Forfeited or expired . .     (1)      34.50
                          -----     -------
Outstanding at
  March 31, 2006 . . . .    526     $ 40.99       7.6           $ 4,858
                          =====     =======

Exercisable at
  March 31, 2006 . . . .    506     $ 41.24       6.7           $ 4,543
                          =====     =======

      A summary of the status of the Company's nonvested stock options as
of March 31, 2006, and changes during the quarter then ended, is as
follows:

                                                           Weighted-
                                                            Average
                                              Shares      Grant Date
                                              (000s)      Fair Value
                                              ------      ----------

Nonvested at December 31, 2005 . . . . . .        29        $ 6.35
Vested . . . . . . . . . . . . . . . . . .        (8)         6.21
Forfeited. . . . . . . . . . . . . . . . .        (1)         6.20
                                              ------        ------
Nonvested at March 31, 2006. . . . . . . .        20        $ 6.40
                                              ======        ======

RESTRICTED STOCK AWARDS

      Under the 2005 LTI Plan, the Company awarded 8,225 restricted shares
during fiscal 2005 and 6,000 restricted shares during the quarter ended
March 31, 2006. The restricted shares vest over a period of three years,
with the exception of 1,100 of the shares vesting over a period of five
years.  The weighted average fair value of the stock awarded in fiscal 2005
on the grant date was $47.57.  The weighted average fair value of the stock
awarded during the quarter ended March 31, 2006 was $46.07.  There was no
additional activity related to restricted stock during the quarter ended
March 31, 2006.

PERFORMANCE SHARE AWARDS

      Pursuant to the terms of his employment agreement with the Company,
as amended in February 2006, and the terms of the 2005 LTI Plan, the
President and Chief Executive Officer will participate in a performance
share award in the amount of 3,500 shares beginning with the 2006 fiscal
year.  Five other executives were also awarded 5,100 performance shares in
February 2006 under the 2005 LTI Plan.  Vesting of these awards and the
issuance of additional shares related to these awards are subject to
financial performance criteria for fiscal 2006 measured in terms of actual
net income compared with planned net income.  The Company has expensed
$141,000 in the first half of fiscal 2006 related to the obligation to
issue the performance share awards.  The fair value of the awards of $46.53
was based on the average price of the Company's stock on the date of grant
and is amortized to expense over its vesting period, assuming that
achievement of performance goals is deemed probable.

                                      9


<PAGE>


PRIOR YEAR PRO FORMA EXPENSE

      Prior to the start of fiscal 2006, the Company accounted for its
share-based award plans under the recognition and measurement principles of
Accounting Principles Board ("APB") Opinion No. 25, "Accounting for Stock
Issued to Employees", and related Interpretations.  Under APB Opinion No.
25, no compensation cost is recognized except for performance-based grants.
The following table illustrates the effect on net income and earnings per
share as if the fair value based method provided by SFAS No. 123,
"Accounting for Stock-Based Compensation", had been applied for all
outstanding and unvested awards for periods prior to the adoption of SFAS
No. 123R (000's, except per share data):

                                                Three Months  Six Months
                                                   Ended        Ended
                                                  March 31,    March 31,
                                                    2005         2005
                                                ------------  ----------

Net income, as reported. . . . . . . . . . . . .    $  5,143    $  9,573
Deduct: Total share-based employee
  compensation expense determined
  under fair value based method
  for all awards, net of related
  tax effects. . . . . . . . . . . . . . . . . .          56       1,348
                                                    --------    --------
Pro forma net income . . . . . . . . . . . . . .    $  5,087    $  8,225
                                                    ========    ========

Earnings per share:
  Basic - as reported. . . . . . . . . . . . . .    $   0.57    $   1.07
                                                    ========    ========
  Basic - pro forma. . . . . . . . . . . . . . .    $   0.57    $   0.92
                                                    ========    ========

  Diluted - as reported. . . . . . . . . . . . .    $   0.57    $   1.06
                                                    ========    ========
  Diluted - pro forma. . . . . . . . . . . . . .    $   0.56    $   0.91
                                                    ========    ========

      There were no awards granted during the three months ended March 31,
2005.


(6)   NOTES PAYABLE

      In April 2004, the Company negotiated a $25 million line of credit
provided by LaSalle Bank, N.A. and borrowed $7,724,000 (euro denominated)
under this facility as part of funding the acquisition of the remaining 49%
minority interest in LCIE-Landauer, Ltd.  The credit facility provides
funds that are to be used for working capital and other general corporate
purposes.  The credit agreement is annually renewable upon agreement of the
parties and provides the Company with the option of electing to borrow
funds denominated in U.S. dollars or Euros that bear interest rates based
on the federal funds rate, prime rate, EURIBOR or LIBOR.  It also contains
certain covenants, including a covenant for minimum tangible net worth.
The credit agreement was amended, effective March 25, 2005, to extend the
maturity date to March 25, 2006 and reduce the aggregate loan commitment
under the credit facility to $15 million, with an option for the Company to
increase to $25 million.  A second amendment was made effective March 25,
2006, to extend the maturity date to March 25, 2007 and increase the
minimum tangible net worth covenant to $22.4 million.  The remaining terms
of the amended credit facility are consistent with the original credit
facility.  As of March 31, 2006, the Company was in compliance with all of
the covenants contained in the credit agreement.





                                     10


<PAGE>


      The outstanding balance under the line of credit of $3,552,000 at
March 31, 2006, is denominated in euros and bears interest at 3.94% until
June 26, 2006, at which time the Company may execute a new EURIBOR election
notice for an additional interest period of 30 days, as permitted under the
terms of the credit agreement.  In the event the credit facility is not
renewed at maturity, it is expected that cash on hand, cash flow from
operations, and the Company's borrowing capacity will be sufficient to
satisfy the obligation.  The Company funds euro-based debt service payments
from euro-denominated cash flows.  The Company intends to renew the credit
facility prior to expiration in March 2007.


(7)   PENSION AND POSTRETIREMENT MEDICAL BENEFIT EXPENSES

      The components of net periodic benefit cost for pension and retiree
medical plans are as follows (000's):

                                Pension Benefits        Other Benefits
                              --------------------    --------------------
                                       Three Months Ended March 31,
                               -------------------------------------------
                                2006        2005        2006        2005
                              --------    --------    --------    --------
Components of net
 periodic benefit cost:
  Service cost . . . . . .    $    293    $    268    $     (3)   $     26
  Interest cost. . . . . .         283         300          18          34
  Expected return on
    plan assets. . . . . .        (190)       (200)         --          --
  Amortization of
    transition (asset)
    obligation . . . . . .          (2)         (1)         (2)          5
  Amortization of prior
    service cost . . . . .          39          97         (38)          5
  Recognized net
    actuarial loss . . . .          23          21          32          20
                              --------    --------    --------    --------
  Net periodic
    benefit cost . . . . .    $    446    $    485    $      7    $     90
                              ========    ========    ========    ========


                                Pension Benefits        Other Benefits
                              --------------------    --------------------
                                        Six Months Ended March 31,
                               -------------------------------------------
                                2006        2005        2006        2005
                              --------    --------    --------    --------

Components of net
 periodic benefit cost:. .
  Service cost . . . . . .    $    661    $    518    $     25    $     51
  Interest cost. . . . . .         587         547          47          54
  Expected return on
    plan assets. . . . . .        (393)       (362)         --          --
  Amortization of
    transition (asset)
    obligation . . . . . .          (4)         (3)          4          11
  Amortization of prior
    service cost . . . . .          78         136         (34)          9
  Recognized net
    actuarial loss . . . .          66          51          44          23
                              --------    --------    --------    --------
  Net periodic
    benefit cost . . . . .    $    995    $    887    $     86    $    148
                              ========    ========    ========    ========




                                     11


<PAGE>


      Landauer contributed $804,000 to its pension plan in the quarter
ended March 31, 2006, the maximum amount permitted under U.S. tax law.  At
the beginning of fiscal 2006, the Company had expected to contribute
$835,000 in fiscal 2006.


(8)   RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

      In February 2006, the Financial Accounting Standards Board ("FASB")
issued SFAS No. 155, "Accounting for Certain Hybrid Financial Instruments -
an amendment of FASB Statements No. 133 and 140" ("SFAS No. 155").  SFAS
No. 155 allows financial instruments that contain an embedded derivative
and that otherwise would require bifurcation to be accounted for as a whole
on a fair value basis, at the holders' election.  SFAS No. 155 also
clarifies and amends certain other provisions of SFAS No. 133 and SFAS No.
140.  This statement is effective for all financial instruments acquired or
issued in fiscal years beginning after September 15, 2006.  SFAS No. 155
will have no impact on the Company's financial position or results of
operations.

      In March 2006, the FASB issued SFAS No. 156, "Accounting for
Servicing of Financial Assets - an amendment of FASB Statement No. 140"
("SFAS No. 156").  SFAS No. 156 provides guidance on the accounting for
servicing assets and liabilities when an entity undertakes an obligation to
service a financial asset by entering into a servicing contract.  This
statement is effective for the first fiscal year beginning after
September 15, 2006.  SFAS No. 156 will have no impact on the Company's
financial position or results of operations.


(9)   PROFIT IMPROVEMENT PLAN

      In the second fiscal quarter of 2006, the Company initiated programs
to improve efficiencies, reorganize several departments and functions to
eliminate redundant positions, require employees to meet established
performance criteria, and significantly alter some benefit programs.  The
implementation of these programs resulted in a pre-tax charge, reported on
the income statement as a reorganization charge, in the amount of
approximately $600,000 in the second fiscal quarter of 2006, primarily
related to severance payments, extended employee benefits and related
separation costs.





























                                     12


<PAGE>


ITEM 2:     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
            AND RESULTS OF OPERATIONS

OVERVIEW

      Landauer is a leading provider of analytical services to determine
occupational and environmental radiation exposure.  For over 50 years, the
Company has provided complete radiation dosimetry services to hospitals,
medical and dental offices, universities, national laboratories, and other
industries in which radiation poses a potential threat to employees.
Landauer's services include the manufacture of various types of radiation
detection monitors, the distribution and collection of the monitors to and
from clients, and the analysis and reporting of exposure findings.  These
services are provided to approximately 1.5 million individuals in the U.S.,
Japan, France, the United Kingdom, Brazil, Canada, China, Australia and
other countries.

      Substantially all of the Company's revenues are realized from
radiation monitoring services and other services incident to radiation dose
measurement.  The Company enters into agreements with customers to provide
them with radiation monitoring services, generally for a twelve-month
period; these agreements generally have a high degree of renewal.
Relationships with customers are generally stable and recurring, and the
Company provides customers with on-going services.  As part of its
services, the Company provides its customers with radiation detection
badges that are produced and owned by the Company.  The badges are worn for
a period selected by the customers ("the wear period"), generally one, two,
or three months in duration.  At the end of the wear period, the badges are
returned to the Company for analysis.  The Company analyzes the badges that
have been worn and provides its customers with a report indicating
radiation exposures.  The Company recycles certain badge components for
reuse, while also producing replacement badges on a continual basis.
Additional reporting and other radiation measurement and management
services ("ancillary services") are provided to customers at their option.

      Landauer's InLight dosimetry system, introduced in late fiscal 2003,
provides smaller in-house and commercial laboratories the ability to offer
a complete radiation monitoring service.  The system is based on the
Company's propriety OSL technology and instruments and dosimetry devices
developed by Matsushita Industrial Equipment Company, and allows customers
the flexibility to tailor their precise dosimetry needs.  InLight services
may involve a customer acquiring or leasing dosimetry detectors and reading
equipment from the Company.

      Landauer's operations include services for the measurement and
monitoring of radon gas (referred to as "sales of radon kits") and services
related to the remediation of radon gas, which require the customer to
deploy a radon detector and return the detector to the Company's
laboratories for dose determination and reporting.  Where a customer has
purchased a radon services agreement, the Company may assist with
remediation services on properties where radon measurements exceed a
specified threshold.

      Landauer operates a mature business, and growth in numbers of
customers is modest. In recent years, the Company's strategy has been to
expand into new international markets, primarily by partnering with
existing dosimetry service providers with a prominent local presence.  In
addition, the Company has been developing new platforms and formats for its
OSL technology, such as InLight, to gain access to markets where the
Company previously did not have a significant presence, such as smaller in-
house and commercial laboratories.  Revenue growth in recent years has
occurred as a result of increased prices for certain services, entry into
new markets through joint ventures and acquisitions, modest unit growth,
and new ancillary services and products.






                                     13


<PAGE>


      The services provided by the Company to its customers are ongoing and
of a subscription nature.  As such, revenues are recognized in the periods
in which such services are rendered, irrespective of whether invoiced in
advance or in arrears.  Given the subscription nature of Landauer's
services, quarterly revenues are fairly consistent.  During the second
quarter of each fiscal year, however, the Company provides additional
services of reporting annual radiation dose summaries that generate
increased revenues.  The introduction of the Company's InLight product line
may result in some variability in quarter-to-quarter revenue comparisons,
given the nature of purchase cycles associated with sales of radiation dose
measurement instruments and detectors.

LIQUIDITY AND CAPITAL RESOURCES

      Landauer's balance sheet at March 31, 2006 remains strong with
consolidated cash and equivalents at $10,381,000.  Landauer's cash provided
from operating activities for the six months ended March 31, 2006 and 2005
amounted to $9,481,000 and $7,197,000, respectively.  The increase in cash
was primarily attributable to improved collection of accounts receivable
and higher depreciation expense.  Investing activities included
acquisitions of property, plant and equipment in the amount of $2,006,000
and $1,830,000, respectively for the six months ended March 31, 2006 and
2005.  The Company's financing activities were comprised of credit facility
payments and payments of cash dividends to shareholders and minority
partners, offset partially by proceeds from the exercise of stock options.

      The Company has long-term liabilities in the amount of $7,543,000 and
$7,300,000 at March 31, 2006 and September 30, 2005, respectively, and its
requirement for cash flows to support investing activities is generally
limited.  Capital expenditures for the balance of fiscal 2006 are expected
to be approximately $3,000,000, principally for the acquisition of
equipment to support the Company's InLight service line, introduction of
new products, and the development of supporting software systems and
computer hardware.  The Company anticipates that funds for these capital
improvements will be provided from operations.

      As described in Note 6 to the financial statements, the Company
maintains a credit facility, which expires in March 2007.  The credit
facility permits borrowing up to a maximum of $15,000,000.  In April 2004,
the Company borrowed $7,724,000 to acquire the remaining 49% minority
interest in LCIE-Landauer, Ltd.  At March 31, 2006 and September 30, 2005,
outstanding borrowings under the credit agreement were $3,552,000 and
$4,048,000, respectively.  The borrowings are classified as current
liabilities and are denominated in euros, which is the functional currency
of LCIE-Landauer, Ltd.  In the event the credit facility is not renewed at
maturity, it is expected that cash on hand, cash flow from operations, and
the Company's borrowing capacity will be sufficient to satisfy the
obligation.  In the opinion of management, cash flows from operations and
the Company's borrowing capacity under its line of credit are adequate for
projected operations and capital spending programs, as well as continuation
of the regular cash dividend program.  From time to time, the Company may
have the opportunity to make investments for acquisitions or other
purposes, and borrowings can be made under the credit facility to fund such
investments.  The Company intends to renew the credit facility prior to
expiration.

      Landauer requires limited working capital for its operations since
many of its customers pay for services in advance.  Such advance payments,
reflected on the balance sheet as "Deferred Contract Revenue", amounted to
$13,073,000 and $12,702,000, respectively, as of March 31, 2006 and
September 30, 2005.  Such amounts generally do not represent a cash
requirement.








                                     14


<PAGE>


      All customers are invoiced in accordance with the Company's standard
terms, with payment due thirty days from date of invoice.  Net accounts
receivable at March 31, 2006 were $18,921,000 compared with $17,987,000 at
September 30, 2005.  Considering the Company's invoicing practices and that
a significant portion of the Company's revenues are subject to health care
industry reimbursement cycles, the average days of sales outstanding for
the Company have ranged from 43 to 78 days over the course of fiscal 2005
and 2006 year to date.

      The Company offers radiation monitoring services in the United
Kingdom, Canada, Japan, Brazil, China, and France.  The Company's
operations in these markets generally do not depend on significant capital
resources.

RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31, 2006

      Revenues for the second quarter of fiscal 2006 were $20,621,000, a
4.6% increase compared to revenues of $19,706,000 for the same quarter in
fiscal 2005.  Domestic radiation monitoring activities represented
approximately $500,000 of revenue growth for the quarter and was largely
due to higher pricing and modest unit gains, primarily to medical and
nuclear power customers.  Ancillary revenues, which are regularly higher in
the Company's second quarter of each year as customers purchase reports
summarizing prior year exposures, were moderately higher than fiscal 2005.
International radiation monitoring revenue growth of more than $450,000
resulted from increased business activity in Europe, Asia and Brazil,
offset by a stronger U.S. dollar.  Sales of InLight products were
moderately lower than a year ago.

      Gross margins were 63.7% of revenues for the second quarter of fiscal
2006 compared to 63.1% reported for the same period in fiscal 2005.
Aggregate costs and expenses for the quarter ended March 31, 2006, were
6.7% higher than a year ago, primarily due to a reorganization charge of
approximately $600,000 for severance and employee related costs associated
with the implementation of a profit improvement plan announced at the end
of the first quarter, as well as higher direct materials and depreciation
expense, offset by lower direct labor costs.  Resulting operating income
for the second quarter of fiscal 2006 was $8,034,000 compared with
$7,904,000 for the same period a year ago.  Excluding the $600,000 charge,
operating income for the current quarter increased by $730,000, or more
than 9%, compared with a year ago.

      Net other income for the quarter was $128,000 higher than a year ago,
reflecting higher net interest income augmented by a moderate income
increase from Nagase-Landauer, Ltd. the Company's joint venture in Japan.
The effective income tax rate for the second quarter of fiscal 2006 was
37.7% and comparable to the prior year at 37.3%.  Resulting net income for
the quarter ended March 31, 2006 amounted to $5,248,000, or $0.58 per
diluted share, compared with $5,143,000, or $0.57 per diluted share, for
the same quarter in fiscal 2005.

RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED MARCH 31, 2006

      Revenues for the first six months of the fiscal year were
$39,268,000, or 3.3% higher than $38,031,000 reported for the same period
in fiscal 2005.  Domestic revenue growth, representing more than $900,000
of the increase, resulted from improved pricing and modestly higher volume
for radiation measurement and ancillary services, primarily from
traditional customers, as well as from nuclear power and emergency response
customers.  International radiation monitoring revenues were approximately
$650,000 higher, as a result of higher pricing and increased international
business activity, offset by a stronger U.S. dollar.  Sales of InLight
products thus far in fiscal 2006 were $300,000 lower than a year ago due to
a large institutional sale in France during the first half of 2005.






                                     15


<PAGE>


      Gross margins for the first half of fiscal 2006 were 62.0% of
revenues, compared with 62.3% reported for the same period in fiscal 2005.
Aggregate costs and expenses for the first half of fiscal 2006 were more
than $1,750,000 higher than a year ago.  In addition to the reorganization
charge of $600,000 related to the Company's profit improvement plan, higher
expenses included depreciation and amortization, employee benefits costs,
professional fees, research and postage.  Resulting operating income for
the first half of fiscal 2006 was $14,094,000 compared with $14,624,000 a
year ago.  Excluding the reorganization charge of $600,000, operating
income for the first half of fiscal 2006 would have been slightly higher
than for the same period in fiscal 2005.

      Year to date net other income was higher than a year ago primarily as
a result of higher net investment income.  Income tax expense for the first
half of fiscal 2006 was comparable to a year ago.  The effective tax rate
for the current year of 37.6% compares with 37.1% for the first half of
fiscal 2005.  Resulting net income for the six months ended March 31, 2006
was $9,255,000, or $1.02 per diluted share, compared with $9,573,000, or
$1.06 per diluted share, for the same period in fiscal 2005.

OUTLOOK FOR BALANCE OF FISCAL 2006

      The Company anticipates 2006 aggregate revenue growth to be in the
range of 5 - 5.5 percent.  Both domestic and international revenue growth
are expected to result from a mix of higher pricing, moderate unit growth
and increased sales of ancillary services.  Costs and operating expenses
for fiscal 2006 are expected to grow at an aggregate rate of 1-2 percent on
an as reported basis, or 5 - 6 percent excluding the effect of the
reorganization charges in fiscal 2005, as a result of management
organizational changes, and 2006, associated with the implementation of a
profit improvement plan.  Net other income in fiscal 2006 is anticipated to
be moderately higher than the year just ended and minority interest should
be somewhat higher than fiscal 2005 levels.  The effective income tax rate
for fiscal 2006 is expected to be comparable to 2005 at approximately 37.5
- 38 percent.  Resulting net income for 2006 is anticipated to be higher by
12 - 14 percent compared with last fiscal year on an as reported basis
reflecting the 2005 pre-tax reorganization charge of $2.3 million and the
2006 pre-tax profit improvement charge of $600,000.  Exclusive of the
reorganization charges in both years, fiscal 2006 net income is expected to
be higher by 6 - 8 percent compared with fiscal 2005.

FORWARD LOOKING STATEMENTS

      Certain of the statements made herein are forward-looking statements,
including, without limitation, the information contained under the heading
"Outlook for Balance of Fiscal 2006" and statements concerning the
development and introduction of new technologies, the adaptability of OSL
to new platforms and new formats (such as InLight), the usefulness of older
technologies, the cost associated with the Company's business development
and research efforts, the valuation of the Company's long-lived assets or
business units relative to future cash flows, the anticipated results of
the operations of the Company and its subsidiaries or ventures, the
Company's business plans, reorganization plans and anticipated cost and
expense savings, foreign exchange risks, government regulations, changes in
pricing of products and services, changes in postal and delivery practices,
the Company's market position, anticipated revenue and cost growth, the
risks of conducting business internationally, other anticipated financial
events, the effects of changing economic and competitive conditions,
government regulations, accreditation requirements, assumptions used for
management's estimates, and pending accounting announcements.  Such
assumptions may not materialize to the extent assumed and such risks and
uncertainties may cause actual results to differ from anticipated results.
Such risks and uncertainties may also result in changes to the Company's
business plan and prospects and could create the need, from time to time,
to write down the value of the assets or otherwise cause the Company to
incur unanticipated expenses.  Additional information may be obtained by
reviewing the information set forth in Item 1A "Risk Factors" and Item 7A



                                     16


<PAGE>


"Quantitative and Qualitative Disclosures About Market Risk" and
information contained in the Company's Annual Report on Form 10-K for the
year ended September 30, 2005 and other reports filed by the Company, from
time to time, with the SEC.

RECENT ACCOUNTING PRONOUNCEMENTS

      In February 2006, the Financial Accounting Standards Board ("FASB")
issued SFAS No. 155, "Accounting for Certain Hybrid Financial Instruments -
an amendment of FASB Statements No. 133 and 140" ("SFAS No. 155").  SFAS
No. 155 allows financial instruments that contain an embedded derivative
and that otherwise would require bifurcation to be accounted for as a whole
on a fair value basis, at the holders' election.  SFAS No. 155 also
clarifies and amends certain other provisions of SFAS No. 133 and SFAS No.
140.  This statement is effective for all financial instruments acquired or
issued in fiscal years beginning after September 15, 2006.  SFAS No. 155
will have no impact on the Company's financial position or results of
operations.

      In March 2006, the FASB issued SFAS No. 156, "Accounting for
Servicing of Financial Assets - an amendment of FASB Statement No. 140"
("SFAS No. 156").  SFAS No. 156 provides guidance on the accounting for
servicing assets and liabilities when an entity undertakes an obligation to
service a financial asset by entering into a servicing contract.  This
statement is effective for the first fiscal year beginning after
September 15, 2006.  SFAS No. 156 will have no impact on the Company's
financial position or results of operations.

CRITICAL ACCOUNTING POLICIES

      The accounting policies followed by the Company are set forth in
Item 7 of the 2005 Landauer Annual Report on Form 10-K.  The Company
believes that at March 31, 2006, there has been no material change to this
information, except as follows:

      The Company adopted SFAS 123R, "Share-Based Payment", in the first
quarter of fiscal 2006, using the modified-prospective application method
and the Black-Scholes option pricing model to determine the fair value for
stock options issued prior to September 30, 2005.  The Black-Scholes option
pricing model incorporates certain assumptions, such as risk-free interest
rate, expected volatility, expected dividend yield and expected life of
options, in order to arrive at a fair value estimate.  While the risk-free
interest rate and dividend yield are less subjective assumptions, typically
based on factual data derived from public sources, the expected stock-price
volatility and option life assumptions require a greater level of judgment.

While the Company believes that its estimates are based on outcomes that
are reasonably likely to occur, if actual results significantly differ from
those estimated or if future changes are made to the Company's assumptions,
the amount of recognized compensation expense could change significantly.
For additional information refer to footnote 5.


ITEM 3.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

      The Company is exposed to market risk, including changes in foreign
currency exchange rates and interest rates.  These risks are set forth in
Item 7A of the 2005 Landauer Annual Report on Form 10-K.  The Company
believes there has been no material change in the information provided from
the end of the preceding fiscal year through March 31, 2006.











                                     17


<PAGE>


ITEM 4.     CONTROLS AND PROCEDURES

DISCLOSURE CONTROLS AND PROCEDURES

      As of the end of the period covered by this report, an evaluation was
performed under the supervision and with the participation of the Company's
management, including the Chief Executive Officer ("CEO") and the Chief
Financial Officer ("CFO") (the Company's principal executive officer and
principal financial officer, respectively), of the effectiveness of the
design and operation of the Company's disclosure controls and procedures as
defined in Rule 13(a)-15(e) and 15d-15(e) under the Securities and Exchange
Act of 1934, as amended (the "Exchange Act"). Based upon that evaluation,
the Company's management, including the CEO and CFO, concluded that the
Company's disclosure controls and procedures as of March 31, 2006 were
effective.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

      There have been no changes in the Company's internal control over
financial reporting that occurred during the period ended March 31, 2006
that have materially affected, or are reasonably likely to materially
affect, the Company's internal control over financial reporting.



PART II.    OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

      The Company is a party, from time to time, to various legal
proceedings, lawsuits and other claims arising in the ordinary course of
its business.  The Company does not believe that any such litigation
pending as of March 31, 2006, if adversely determined, would have a
material effect on its business, financial position, results of operations,
or cash flows.


ITEM 1A.    RISK FACTORS

      Information regarding risk factors are set forth in Item 1A of the
2005 Landauer Annual Report on Form 10-K.  There have been no material
changes from the risk factors previously disclosed in the Company's fiscal
2005 Form 10-K.


ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

      At its Annual Meeting held on February 9, 2006, the shareholders
voted to re-elect Thomas M. White and Stephen C. Mitchell as directors,
each for a term of three years.  The voting for each of the nominees was as
follows:

                                     For       Withheld
                                  ---------    --------
            Mr. White             8,319,410      51,874
            Mr. Mitchell          8,345,774      25,510

      The shareholders voted to reappoint PricewaterhouseCoopers LLP as the
Company's auditors for the following year, with 8,292,613 shares voting
for, 57,387 shares voting against and 21,284 shares abstaining.

      The additional directors for the current year are Robert J. Cronin,
Michael D. Winfield, E. Gail de Planque, Gary D. Eppen, Richard R. Risk and
William E. Saxelby.






                                     18


<PAGE>


ITEM 6.     EXHIBITS

      Exhibit 10.1      Amendment No. 1, dated December 30, 2005, to the
                        Landauer, Inc. 1996 Equity Plan (As amended and
                        restated through November 8, 2001)

      Exhibit 10.2      Amendment No. 1, dated December 30, 2005, to the
                        Landauer, Inc. Amended and Restated 1997 Non-
                        Employee Directors Stock Option Plan

      Exhibit 10.3      Amendment No. 1, dated December 30, 2005, to the
                        Landauer, Inc. 2005 Long-Term Incentive Plan

      Exhibit 31.1      Certification of William E. Saxelby, President and
                        Chief Executive Officer, as adopted pursuant to
                        Section 302 of the Sarbanes-Oxley Act of 2002

      Exhibit 31.2      Certification of James M. O'Connell, Chief
                        Financial Officer, as adopted pursuant to
                        Section 302 of the Sarbanes-Oxley Act of 2002

      Exhibit 32.1      Certification of William E. Saxelby, President
                        and Chief Executive Officer, pursuant to 18 U.S.C.
                        Section 1350, as adopted pursuant to Section 906
                        of the Sarbanes-Oxley Act of 2002

      Exhibit 32.2      Certification of James M. O'Connell, Chief
                        Financial Officer, pursuant to 18 U.S.C.
                        Section 1350, as adopted pursuant to Section 906
                        of the Sarbanes-Oxley Act of 2002








































                                     19


<PAGE>


                                 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.


                                    LANDAUER, INC.
Date:  May 8, 2006

                                    /s/ James M. O'Connell
                                    ------------------------------
                                    James M. O'Connell
                                    Vice President and Treasurer
                                    (Principal Financial and
                                    Accounting Officer)






















































                                     20