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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000897101-03-001334.txt : 20031027
<SEC-HEADER>0000897101-03-001334.hdr.sgml : 20031027
<ACCEPTANCE-DATETIME>20031027110626
ACCESSION NUMBER:		0000897101-03-001334
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20031024
ITEM INFORMATION:		
FILED AS OF DATE:		20031027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL PRESTO INDUSTRIES INC
		CENTRAL INDEX KEY:			0000080172
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC HOUSEWARES & FANS [3634]
		IRS NUMBER:				390494170
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02451
		FILM NUMBER:		03957745

	BUSINESS ADDRESS:	
		STREET 1:		3925 N HASTINGS WAY
		CITY:			EAU CLAIRE
		STATE:			WI
		ZIP:			54703
		BUSINESS PHONE:		7158392121

	MAIL ADDRESS:	
		STREET 1:		3925 N HASTINGS WAY
		CITY:			EAU CLAIRE
		STATE:			WI
		ZIP:			54703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATIONAL PRESSURE COOKER CO
		DATE OF NAME CHANGE:	19710509
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>natpresto034569_8k.txt
<DESCRIPTION>NATIONAL PRESTO INDUSTRIES, INC.
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                    FORM 8-K


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



          Date of Report (Date of earliest reported): OCTOBER 24, 2003

                        NATIONAL PRESTO INDUSTRIES, INC.
             (Exact name of registrant as specified in its chapter)


WISCONSIN                          1-2451                   39-0494170
(State or other jurisdiction       (Commission              (IRS Employer
of incorporation)                  File Number)             Identification No.)


3925 NORTH HASTINGS WAY
EAU CLAIRE, WISCONSIN                                       54703-3703
(Address of principal executive office)                     (Zip Code)


Registrant's telephone number, including area code:         715-839-2121


                                       N/A
          (Former name or former address, if changed since last report)


Page 1 of 3

<PAGE>

ITEM 12.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 24, 2003, the registrant issued a press release regarding the
registrant's results of operations for the 3rd quarter ended September 28, 2003.
The full text of the press release is filed as Exhibit 99.1 to this Form 8-K.
Such Exhibit shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or
incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.





                                    SIGNATURE

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 hereunto duly authorized.

                                       NATIONAL PRESTO INDUSTRIES, INC.
                                       ---------------------------------
                                       (Registrant)

                                       /s/ Maryjo Cohen
                                       ---------------------------------
Date   OCTOBER 24, 2003                (Signature)  MARYJO COHEN, PRESIDENT
                                                    AND CHIEF EXECUTIVE OFFICER


Page 2 of 3


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>natpresto034569_ex99-1.txt
<DESCRIPTION>NATIONAL PRESTO INDUSTRIES, INC. NEWS RELEASE
<TEXT>
                                  EXHIBIT 99.1

NEWS RELEASE                                              CONTACT:  Randy Lieble
FOR IMMEDIATE RELEASE                                         (715) 839-2164

                   NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES
                      INCREASED THIRD QUARTER 2003 EARNINGS

     Eau Claire, Wisconsin (October 24, 2003) -- National Presto Industries,
Inc. (NYSE: NPK) announced today third quarter sales and earnings, as shown in
the table below. Net earnings per share have been computed on the basis of the
weighted average number of common shares outstanding for the respective periods.

     In response to questions about sales and earnings, Maryjo Cohen, President,
stated, "Third quarter 2003 sales largely repeated the pattern set during the
earlier quarters. Housewares and small appliance sales once again declined,
reflecting the continuation of the weak retail environment for housewares. The
earnings improvement was primarily due to cost reductions stemming from the
sourcing of product overseas."

     The Company also announced its decision to terminate its defined benefit
pension plan, and as a result, recorded an after tax charge of $731,000 in third
quarter 2003. An additional estimated $1,900,000 is expected in the third
quarter of 2004. In recognition of the ever escalating costs inherent in the
administration of defined benefit plans combined with anticipated further
charges and assessments of the Pension Benefit Guaranty Corporation (PBGC) to
offset that organization's burgeoning deficit (already an estimated $8.8
billion), the Company concluded it was prudent to replace its defined benefit
plan with a defined contribution plan. Many leading U.S. corporations have
bitten the bullet and taken similar action. The effect of the third quarter
charge was largely offset by the partial reversal of its Last In First Out
inventory reserve ($573,000, net of tax).* Unfortunately, there will be no
similar offset for the anticipated 2004 pension plan charge.

     National Presto manufactures and sells small household electric appliances
and pressure cookers under the PRESTO(R) brand name. It also produces absorbent
products and defense items. The Company is widely recognized as an innovator of
new products.

                                                      THREE MONTHS ENDED

                                          Sept. 28, 2003       Sept. 29, 2002
                                          --------------       --------------
    Net Sales                              $26,849,000          $28,447,000
    Net Earnings                           $ 2,078,000 *        $   893,000 *
    Net Earnings Per Share                 $       .30 *        $       .13 *
    Weighted Shares Outstanding              6,818,000            6,842,000

                                                     NINE MONTHS ENDED

                                          Sept. 28, 2003       Sept 29, 2002
                                          --------------       --------------
    Net Sales                              $70,355,000          $71,421,000
    Net Earnings/(Loss)                    $ 6,049,000 *        $  (384,000)*
    Net Earnings/(Loss) Per Share          $       .88 *        $       (06)*
    Weighted Shares Outstanding              6,822,000            6,839,000

This release contains "forward looking statements" made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995 that
are subject to certain risks and uncertainties, as well as assumptions, that
could cause actual results to differ materially from historical results and
those presently anticipated or projected. In addition to the factors discussed
above, other important risk factors are delineated in the Company's SEC reports,
including Form 10-Q for the quarterly period ended June 29, 2003.

- -----------------------------------------------
* Both 2002 and 2003 third quarters were favorably impacted by a partial
reversal of the LIFO reserve. Net of taxes, the effect in the 2002 quarter was
$730,000 - $.11 per share versus $573,000 - .08 per share in the 2003 quarter.
The latter was more than offset by the pension termination charge of $731,000 -
$.11 per share. For the first nine months of 2003, the LIFO reserve has
contributed a net comparative favorable $1,278,000 - $.18 per share. The first
nine months of 2002 was unfavorably impacted by the first quarter 2002 after-tax
charge relating to plant closings of $2,423,000 - $.35 per share.


Page 3 of 3

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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