SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the LaBarge, Inc. Employees Savings Plan Administrative Committee has duly caused this Annual Report to be signed by the undersigned hereunto duly authorized.

THE LaBARGE, INC. EMPLOYEES SAVINGS PLAN

(Full title of Plan)

By:  /s/DONALD H. NONNENKAMP

Donald H. Nonnenkamp

Vice President and Chief Financial Officer

By:  /s/ROBERT A. MIHALCO

Robert A. Mihalco

Plan Administrator

PAGE

Report of Independent Registered Public Accounting Firm

Financial Statements:

1

Statements of Net Assets Available for Plan Benefits as of December 31, 2005 and 2004

2

Statements of Changes in Net Assets Available for Plan Benefits for the years ended December 31, 2005 and 2004

3

Notes to Financial Statements

4

Schedule 1 – Schedule H, line 4i – Schedule of Assets (Held at End of Year),
December 31, 2005

Definitions

Plan                                 -                LaBarge, Inc. Employees Savings Plan

Trustee/Recordkeeper     -                Fidelity Investments Institutional Operations Company, Inc.

ERISA                             -                Employee Retirement Income Security Act of 1974

Company                         -                LaBarge, Inc.

Plan Administrator          -                LaBarge, Inc. Plan Administration Committee

LABARGE, INC. EMPLOYEES SAVINGS PLAN

Statements of Net Assets Available for Plan Benefits

December 31, 2005 and 2004

Assets

2005

2004

Investments:

Registered investment company shares

$

15,044,567

13,181,172

Money market accounts

1,858,645

1,954,870

LaBarge, Inc. common stock

16,281,444

14,916,434

Loans to participants

918,198

767,818

Total investments

34,102,854

30,820,294

Receivables:

Employer contributions

42,738

36,419

Participant contributions

—    

158,495

Participant loan repayments

37,832

29,939

Total receivables

80,570

224,853

Liabilities

Accrued expenses

5,500

5,800

Net assets available for plan benefits

$

34,177,924

31,039,347

See accompanying notes to financial statements.

LABARGE, INC. EMPLOYEES SAVINGS PLAN

Statements of Changes in Net Assets Available for Plan Benefits

Years ended December 31, 2005 and 2004

Assets

2005

2004

Investments:

Interest and dividends

$

109,235   

57,921   

Net appreciation in fair market value of investments

2,959,005   

9,837,409   

Total investment income

3,068,240   

9,895,330   

Contributions:

Participant

1,965,174   

3,641,885   

Employer

436,176   

406,430   

Total contributions

2,401,350   

4,048,315   

Deductions:

Participant distributions

(2,284,504)  

(2,028,054)  

Administrative expenses

(46,509)  

(46,768)  

Total deductions

(2,331,013)  

(2,074,822)  

Increase in net assets available for plan benefits

3,138,577   

11,868,823   

Net assets available for plan benefits:

19,170,524   

Beginning of year

$

31,039,347   

19,170,524   

End of year

34,177,924   

31,039,347   

See accompanying notes to financial statements.

(a)

General

The Plan is a defined contribution plan sponsored by the Company covering substantially all employees with 1 year of service and is subject to the provisions of ERISA.

(b)

Contributions

Employees may elect to contribute, on a pre-tax basis, the lesser of 60% of covered compensation, or $14,000, whichever is less, in 2005 in various investment funds of the Plan. Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions. The Company contributes an amount equal to 50% of the first $25 per month of employee contributions plus 25% of the employee contribution in excess of $25. The Company provides matching contributions on amounts contributed up to 8% of the participant’s compensation. All Company matching contributions are nonparticipant directed. Specifically, the Company matching contributions are invested in LaBarge, Inc. common stock and are restricted from being transferred to other Plan funds. Each year the Company may also, at its option, contribute an additional discretionary amount as determined by the Company’s board of directors as a profit‑sharing contribution. There were no discretionary profit-sharing contributions for 2005 or 2004.

(c)

Participants’ Accounts

Each participant account is credited with the participant’s contribution, the Company’s matching contribution, and an allocation of the Company’s discretionary profit-sharing contribution and fund earnings, net of administrative expenses. Allocations are based upon covered compensation or account balances, as defined in the Plan agreement.

Participants may transfer amounts between any funds other than the LaBarge, Inc. Common Stock Fund during any business day of the year. A transfer must equal a minimum of $250 or 100% of the participant’s account balance for balances less than $250. The Trustee records these transfers in the participant’s account and reinvests the amounts to reflect these changes. Sales and exchanges of LaBarge, Inc. Common Stock can only be made on the 15^th and the last day of any calendar month. At year-end, the investments are presented net of any transfers in process as directed by the participants.

A participant’s interest in transfers and trading activity in the LaBarge Common Stock Fund is measured in actual shares of LaBarge, Inc. Common Stock that are allocated to the participant’s account.

(d)

Vesting

Participants are immediately vested in their contributions plus any earnings thereon. Participants are fully vested with respect to a month for employer matching contributions if that participant is employed by the Company on the last day of such month. Upon a participant’s attainment of his/her normal retirement date (65^th birthday), or upon death or total disability, his/her entire account balance as of the most recent valuation date will become 100% vested. In the event a participant terminates employment, vesting in the Company’s profit-sharing contribution allocated to the participant’s account is 100% after five full years of continuous service.

(e)

Loans to Participants

Participants are allowed to transfer portions of their account balances into the Loan Fund and borrow from the Loan Fund. The minimum loan is $1,000 and the maximum amount is the lesser of one-half of the participants vested account balance or $50,000 reduced by the highest outstanding loan balance in the participants account during the prior twelve-month period. All participant loans from plans maintained by the Employer or a Related Employer will be considered for purposes of determining the maximum amount of the participant’s loan. Up to 50% of the participant’s vested account balance may be used as collateral for any loan.

(f)

Payment of Benefits

Upon termination or retirement of service, a participant’s account is distributed in the form of a lump-sum payment or installment payments over a period of time. Distributions are made as soon as practical after the close of the plan month in which the termination of employment occurs or is deferred until age 70-1/2 at the participant’s election.

(a)

Basis of Presentation

The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting, except benefit payments, which are recorded when paid.

Investments

Participants may elect to have a portion of their account balances invested in the following separate investment funds within the Plan:

•

LaBarge, Inc. Common Stock Fund, which shall be exclusively invested in common stock of the Company;

•

Fidelity Retirement Money Market Fund, which seeks to obtain as high a level of current income as is consistent with the preservation of capital and liquidity;

•

Fidelity Mortgage Securities Fund, which seeks a high level of current income, consistent with prudent investment risk. In seeking current income, the fund may also consider the potential for capital gain;

•

Fidelity Equity-Income Fund, which seeks reasonable income. The fund will also consider the potential for capital appreciation. Seeks a yield that exceeds the yield on the securities comprising the Standard and Poor’s 500 Index;

•

Fidelity Low-priced Stock Fund, which seeks capital appreciation;

•

Fidelity Dividend Growth Fund, which seeks capital appreciation;

•

Fidelity Fifty Fund, which seeks capital appreciation;

•

Fidelity Diversified International Fund, which seeks capital growth;

•

Fidelity Select Health Care Fund, which seeks capital appreciation;

•

Fidelity Freedom Income Fund, which seeks high current income and, as a secondary objective, capital appreciation;

•

Fidelity Freedom 2000 Fund, which seeks high total return;

•

Fidelity Freedom 2005 Fund, which seeks high total return;

•

Fidelity Freedom 2010 Fund, which seeks high total return;

•

Fidelity Freedom 2015 Fund, which seeks high total return:

•

Fidelity Freedom 2020 Fund, which seeks high total return;

•

Fidelity Freedom 2025 Fund, which seeks high total return;

•

Fidelity Freedom 2030 Fund, which seeks high total return;

•

Fidelity Freedom 2035 Fund, which seeks high total return;

•

Fidelity Freedom 2040 Fund, which seeks high total return;

•

PIMCO Long-term U.S. Government A Fund, which seeks to provide high current income by investing in high quality, longer-maturity bonds;

•

Oakmark Equity & Income I Fund, which seeks high current income and preservation and growth of capital;

•

Spartan U.S. Equity Index Fund, which seeks to provide investment results that correspond to the total return (i.e. the combination of capital changes and income) performance of common stocks publicly traded in the United States;

•

Ariel Appreciation Fund, which seeks to increase the value of your investment over the long term through capital appreciation; and

•

Loan Fund, which shall account for all principal and interest outstanding on loans to plan participants.

The Fidelity Funds (excluding the Retirement Money Market Fund), PIMCO, Oakmark, Spartan, and the Ariel Appreciation Funds (all invest in registered investment company shares), and the LaBarge, Inc. Common Stock Fund are stated at fair market value. The fair market value of the Company’s common stock is determined based on the quoted market value of the stock on the last day of trading for the period. The fair market value of the mutual funds is determined based on the net asset value of shares held by the plan at year end using quoted market prices. The Money Market Fund is valued at cost plus interest, which approximates net realizable value. The appreciation (depreciation) in fair market value of investments of the Plan represents the change in the difference between market value and cost of the investments during the year and realized gains or losses on the sale of investments. Participant loans are valued at their outstanding balances, which approximates fair value.

Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Purchases and sales of securities are recorded on a trade-date basis.

(c)

Trust Fund Managed by the Trustee

Under the terms of a trust agreement, the Trustee manages a trust fund on behalf of the Plan. The investments and changes therein of this trust fund have been reported to the Plan by the trustee.

(d)

Use of Estimates

Certain amounts included in the financial statements are estimated based on current available information and the Plan Administrator’s judgment as to the outcome of future conditions and circumstances. While every effort is made to ensure the integrity of such estimates, including the use of third‑party specialists where appropriate, actual results could differ from these estimates.

(e)

Administrative Charges

The Plan gives the Company the option of paying all administrative expenses or charging them to the Plan. All expenses incidental to the operation and management of the Plan have been paid by the Plan except for annual testing fees which are paid by the Company.

(3)

Tax Status

The Plan Administrator has received a favorable determination letter dated March 15, 2005 from the Internal Revenue Service which indicates that the Plan and its underlying trust qualify under the applicable provisions of the Internal Revenue Code and, therefore, are exempt from Federal income taxes. The Plan has not been subsequently amended.

(4)

Plan Termination

Although it has not expressed an intent to do so, the Company has the right under the provisions of the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become fully vested.

(5)

Related-party Transactions

On various dates during 2005, the Plan purchased 47,429 shares of the Company’s common stock at fair market value at prices ranging from $10.90 to $21.00 per share for investment in the Plan’s LaBarge Common Stock Fund. The Plan did not sell or redeem any of the Company’s common stock during 2005.

The market value of the investment in the LaBarge Inc. Common Stock Fund was valued at $14.37 and $12.70 per share at December 31, 2005 and 2004, respectively.

(6)

Reconciliation of Financial Statements to Form 5500 for Administrative Expenses

The following is a reconciliation of administrative expenses per Form 5500 to the financial statements:

December 31

2005

2004

Cash basis expenses per 5500

$

46,809   

58,299   

Less accrued expenses

(5,800)  

(17,331)  

Add expenses incurred but not paid as of plan year end

5,300   

5,800   

Financial statement accrual expenses

$

46,309   

46,768   

(7)

Investments

Investments of the Plan are comprised of the following:

Investments that represent 5% or more of the Plan’s net assets are listed below:

December 31

2005

2004

Investments at fair value as determined by

quoted market price:

Mutual funds:

Spartan U.S. Equity Index Fund

$

3,606,531   

3,708,807   

Other

11,438,036   

9,472,365   

LaBarge, Inc. Common Stock Fund*

16,281,444   

14,916,434   

31,326,011   

28,097,606   

Investments at estimated fair value:

Fidelity Retirement Money Market Fund

1,858,645   

1,954,870   

Loans to participants

918,198   

767,818   

2,776,843   

2,722,688   

Total investments

$

34,102,854   

30,820,294   

* Non-participant directed investment

December 31

2005

2004

Investments at fair value as determined by

quoted market price:

Mutual funds

$

1,001,577   

1,239,868   

LaBarge, Inc. Common Stock Fund

1,957,428   

8,597,541   

$

2,959,005   

9,837,409   

(8)      

Non-Participant Directed Investments

Information about net assets and the significant amounts of the changes in net assets relating to the nonparticipant-directed investments in LaBarge, Inc. common stock is:

Year ended December 31

2005

2004

LaBarge, Inc. common stock beginning of year

$

14,916,434   

6,566,789   

Net appreciation in fair market value

1,957,428   

8,597,541   

Employer and participant contributions

667,642   

638,368   

Participant distributions

(1,259,750)  

(885,766)  

Administrative expenses

(310)  

(498)  

LaBarge, Inc. common stock, end of year

$

16,281,444   

14,916,434   

(9)

Risks and Uncertainties

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statement of net assets available for plan benefits.

Schedule 1

LABARGE, INC. EMPLOYEES SAVINGS PLAN

Schedule H, line 4i – Schedule of Assets (Held at End of Year)

December 31, 2005

Number of

shares

Current

Description of investments

or units

Cost

value

Money market accounts:

Fidelity Retirement Money Market Fund

1,858,645   

$

1,858,645   

1,858,645   

Equity Mutual Funds:

Ariel Appreciation Fund

11,317   

506,143   

528,715   

PIMCO Long-term U.S. Government A Fund

113,726   

1,260,861   

1,250,989   

Oakmark Equity and Income I Fund

20,792   

472,177   

519,372   

Fidelity Equity-Income Fund

21,782   

965,195   

1,149,658   

Fidelity Mortgage Securities Fund

15,558   

174,161   

172,072   

Fidelity Select Health Care Fund

1,380   

190,465   

187,786   

Fidelity Low-priced Stock Fund

29,238   

1,076,636   

1,194,077   

Fidelity Diversified International Fund

62,180   

1,313,613   

2,023,323   

Fidelity Dividend Growth Fund

37,858   

932,943   

1,089,926   

Fidelity Freedom Income Fund

3,005   

33,563   

34,171   

Fidelity Freedom 2000 Fund

11,375   

135,187   

138,892   

Fidelity Freedom 2005 Fund

60   

657   

665   

Fidelity Freedom 2010 Fund

68,242   

902,104   

958,807   

Fidelity Freedom 2015 Fund

1,056   

11,711   

12,194   

Fidelity Freedom 2020 Fund

55,971   

741,745   

823,336   

Fidelity Freedom 2025 Fund

4,502   

50,822   

53,844   

Fidelity Freedom 2030 Fund

40,204   

538,318   

603,862   

Fidelity Freedom 2035 Fund

881   

10,152   

10,778   

Fidelity Freedom 2040 Fund

24,732   

192,585   

218,381   

Fidelity Fifty Fund

20,554   

396,711   

467,188   

Spartan US Equity Index Fund

81,670   

2,737,864   

3,606,531   

LaBarge Common Stock Fund:

LaBarge Inc. common stock*

1,133,016   

3,297,862   

16,281,444   

Loans to participants

918,198   

Total investments

$

17,800,120   

34,102,854   

* Represents a party in interest transaction allowable under ERISA regulations.

See accompanying report of independent registered public accounting firm.