<PAGE>   1


                                  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 JUNE 30, 1999

                                       OR

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

                         Commission File Number 33-77728

                                PENDA CORPORATION
             (Exact name of registrant as specified in its charter)

          FLORIDA                                      65-0463658
 (State or other jurisdiction of          (I.R.S. Employer Identification No.)
  incorporation or organization)


 2344 WEST WISCONSIN STREET, PORTAGE, WISCONSIN             53901-0449
 (Address of principal executive offices)                   (Zip Code)

                                 (608) 742-5301
              (Registrant's telephone number, including area code)

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 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 __

At June 30, 1999, the Registrant had 1,019,974.7661 shares of $0.01 par value
common stock outstanding.


<PAGE>   2


         This Quarterly Report on Form 10-Q contains forward-looking statements
within the meaning of that term in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Additional written or oral
forward-looking statements may be made by the Company from time to time, in
filings with the Securities Exchange Commission or otherwise. Statements
contained herein that are not historical facts are forward-looking statements
made pursuant to the safe harbor provisions referenced above.

         Forward-looking statements may include, but are not limited to,
projections of revenues, income or losses, capital expenditures, plans for
future operations, financing needs or plans, compliance with financial covenants
in loan agreements, plans for liquidation or sale of assets or businesses, plans
relating to products or services of the Company, assessments of materiality,
predictions of future events, the ability to obtain additional financing, the
Company's ability to meet obligations as they become due, the impact of pending
and possible litigation, as well as assumptions relating to the foregoing. In
addition, when used in this discussion, the words "anticipates," "believes,"
"estimates," "expects," "intends," "plans" and similar expressions are intended
to identify forward-looking statements. Forward-looking statements are
inherently subject to risks and uncertainties, including, but not limited to,
the impact of leverage, dependence on major customers, reliance on sales of new
trucks, fluctuating demand for passenger cars and light trucks, ability to
develop complementary products, risks in product and technology development,
fluctuating resin prices, competition, litigation, labor disputes, capital
requirements, and other risk factors detailed in the Company's Securities and
Exchange Commission filings, some of which cannot be predicted or quantified
based on current expectations.

         Consequently, future events and actual results could differ materially
from those set forth in, contemplated by, or underlying the forward-looking
statements. Statements in this Quarterly Report, particularly "Part 1 Item 2
Management's Discussion and Analysis of Financial Condition and Results of
Operations", and "Part 2, Item 1 Legal Proceedings" describe factors, among
others, that could contribute to or cause such differences.

         Readers are cautioned not to place undue reliance on any
forward-looking statements contained herein, which speak only as of the date
hereof. The Company undertakes no obligation to publicly release the result of
any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.




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<PAGE>   3


                         PART I - FINANCIAL INFORMATION



ITEM 1.  FINANCIAL STATEMENTS

                                PENDA CORPORATION

                           CONSOLIDATED BALANCE SHEETS


<TABLE>
<CAPTION>
                                                                   JUNE 30, 1999           DECEMBER 31,
                                                                    (UNAUDITED)               1998
                                                                --------------------    ------------------
                                                                             (in thousands)
<S>                                                          <C>                     <C>
ASSETS

Current assets:
   Cash and cash equivalents                                 $                9,682  $              6,336
   Accounts receivable, net                                                  13,210                10,667
   Inventories, net                                                           6,249                 5,701
   Deferred income taxes                                                        833                   833
   Other                                                                      1,575                   844
                                                                --------------------    ------------------
      Total current assets                                                   31,549                24,381

Property, plant and equipment
   Land and improvements                                                        735                   744
   Buildings and improvements                                                 7,559                 7,388
   Machinery and equipment                                                   23,222                21,278
   Furniture and fixtures                                                       660                   600
   Construction in progress                                                   1,224                 1,817
                                                                --------------------    ------------------
                                                                             33,400                31,827
   Less accumulated depreciation                                             13,726                11,885
                                                                --------------------    ------------------
Net property, plant and equipment                                            19,674                19,942
Goodwill and other intangible assets, net                                    93,495                94,836
                                                                --------------------    ------------------
      Total assets                                           $              144,718  $            139,159
                                                                ====================    ==================
</TABLE>

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<PAGE>   4


                                PENDA CORPORATION

                           CONSOLIDATED BALANCE SHEETS


<TABLE>
<CAPTION>
                                                                  JUNE 30, 1999           DECEMBER 31,
                                                                   (UNAUDITED)                1998
                                                                -------------------    -------------------
                                                                             (in thousands)
<S>                                                          <C>                    <C>
LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
   Accounts payable                                          $               3,097  $               3,612
   Accrued interest                                                          2,797                  2,841
   Employee compensation                                                     2,043                  1,174
   Current maturities of long-term debt                                        585                    651
   Other accrued liabilities                                                 2,311                  2,388
                                                                -------------------    -------------------
      Total current liabilities                                             10,833                 10,666

Long-term debt, less current portion                                        79,252                 78,699
Deferred income taxes                                                       10,459                  9,547
                                                                -------------------    -------------------
      Total liabilities                                                    100,544                 98,912

Shareholders' equity:
   Common stock                                                                 10                     10
   Additional paid-in capital                                               25,140                 24,990
   Retained earnings                                                        19,024                 15,247
                                                                -------------------    -------------------
      Total shareholders' equity                                            44,174                 40,247
                                                                -------------------    -------------------
      Total liabilities and shareholders' equity             $             144,718  $             139,159
                                                                ===================    ===================
</TABLE>

The accompanying notes are an integral part of the consolidated financial
statements.

                                       4
<PAGE>   5



                                PENDA CORPORATION

                        CONSOLIDATED STATEMENTS OF INCOME

<TABLE>
<CAPTION>
                                                            THREE MONTHS ENDED                 SIX MONTHS ENDED
                                                            ------------------                 ----------------
                                                                 JUNE 30,                          JUNE 30,
                                                               (UNAUDITED)                        (UNAUDITED)
                                                       -----------------------------      ----------------------------
                                                                                     (in thousands)

<S>                                                   <C>             <C>              <C>             <C>
                                                            1999             1998            1999              1998

  Net sales                                           $      24,927   $      22,737    $      47,362   $       41,128

  Cost of sales                                              13,941          13,457           26,981           25,623
                                                         -----------     -----------      -----------     ------------
           Gross profit                                      10,986           9,280           20,381           15,505

  Selling expenses                                            2,957           2,189            5,496            3,482
  General and administrative expenses                         1,231           1,378            2,627            2,511
  Amortization                                                  844             773            1,735            1,547
                                                         -----------     -----------      -----------     ------------
           Operating income                                   5,954           4,940           10,523            7,965

  Interest expense                                            2,056           2,244            4,092            4,491
  Other expense, net                                            179             115              375              227
                                                         -----------     -----------      -----------     ------------
           Income before income taxes                         3,719           2,581            6,056            3,247

  Provision (benefit) for income taxes                        1,485             992            2,279            1,177
                                                         -----------     -----------      -----------     ------------
           Net income                                 $       2,234   $       1,589    $       3,777   $        2,070
                                                         -----------     -----------      -----------     ------------

  Earnings per share of common stock
           Basic                                      $        2.19   $        1.56    $        3.70   $         2.04
                                                         -----------     -----------      -----------     ------------
           Diluted                                    $        2.19   $        1.56    $        3.70   $         2.04
                                                         -----------     -----------      -----------     ------------

  Weighted average common shares outstanding
           Basic                                              1,020           1,017            1,020            1,017
                                                         -----------     -----------      -----------     ------------
           Diluted                                            1,020           1,017            1,020            1,017
                                                         ===========     ===========      ===========     ============
</TABLE>

The accompanying notes are an integral part of the consolidated financial
statements.

                                       5
<PAGE>   6




                                PENDA CORPORATION

                      CONSOLIDATED STATEMENTS OF CASH FLOWS


<TABLE>
<CAPTION>
                                                                              SIX MONTHS ENDED JUNE 30,
                                                                                   (UNAUDITED)
                                                                   ------------------------------------------------
                                                                           1999                       1998
                                                                   ---------------------       --------------------
                                                                                   (in thousands)
<S>                                                             <C>                         <C>
OPERATING ACTIVITIES:
Net income                                                      $                 3,777     $                2,070
Adjustments to reconcile net income to net cash provided
                by operating activities:
     Depreciation                                                                 1,841                      1,596
     Amortization                                                                 1,341                      1,547
     Deferred income taxes                                                          912                        471
     Changes in operating assets and liabilities:
         Accounts receivable                                                    (2,543)                    (3,621)
         Inventories                                                              (548)                         60
         Refundable income taxes                                                      -                        518
         Accounts payable                                                         (515)                        146
         Accrued interest                                                          (44)                        (2)
         Other                                                                       60                        852
                                                                   ---------------------       --------------------
Net cash provided by operating activities                                         4,281                      3,637
                                                                   ---------------------       --------------------

INVESTING ACTIVITIES:
Capital expenditures                                                            (1,573)                      (771)
                                                                   ---------------------       --------------------
Net cash used in investing activities                                           (1,573)                      (771)
                                                                   ---------------------       --------------------

FINANCING ACTIVITIES:
Proceeds from (payments on) capital leases                                          488                      (113)
Issuance of common stock                                                            150                          -
                                                                   ---------------------       --------------------
Net cash (used in) provided by financing activities                                 638                      (113)
                                                                   ---------------------       --------------------

Net increase in cash and cash equivalents                                         3,346                      2,753
Cash and cash equivalents at beginning of period:                                 6,336                      4,460
                                                                   =====================       ====================
Cash and cash equivalents at end of period:                     $                 9,682     $                7,213
                                                                   =====================       ====================
</TABLE>

The accompanying notes are an integral part of the consolidated financial
statements.

                                       6
<PAGE>   7


                           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (UNAUDITED)

1.       BASIS OF PRESENTATION

         Penda Corporation (the "Company" or "Penda") is one of the world's
largest manufacturers and suppliers of pickup truck accessories serving original
equipment manufacturers ("OEMs") and the automotive aftermarket (the
"aftermarket"). The Company manufacturers thermoformed high-density polyethylene
plastic pickup truck bedliners that are designed to both enhance the vehicle's
appearance and help protect truck beds from damage, thereby extending the useful
life and increasing the resale value of the pickup truck. The Company also
manufactures fiberglass accessory products for pickup trucks, vans, and Class 8
trucks that are sold by truck dealers, specialty automotive stores, other
retailers, and OEMs. Other truck accessories including bed mats, tailgate
liners, cargo tie-downs, toolboxes, and cargo liners designed for sport utility
vehicles and other light trucks are also distributed through the Company's OEM
and aftermarket distribution systems

         These financial statements have been prepared by the Company pursuant
to the rules and regulations of the Securities and Exchange Commission (the
"SEC") and, in the opinion of the Company, include all adjustments (all of which
are normal and recurring in nature) necessary to present fairly the financial
position, results of operations and cash flows of the Company for the interim
periods presented. These financial statements include the accounts of the
Company's wholly-owned subsidiaries, and all significant intercompany
transactions have been eliminated. 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. These unaudited consolidated financial statements should
be read in conjunction with the annual consolidated financial statements and
notes thereto contained in the Company's Annual Report on Form 10-K for the year
ended December 31, 1998 as filed with the SEC.

2.       INVENTORIES

         Inventories consist of the following (in thousands):

<TABLE>
<CAPTION>
                                                                 June 30,            December 31,
                                                                   1999                  1998
                                                              ----------------      ----------------
<S>                                                        <C>                   <C>
         Finished goods                                    $            2,885    $            3,031
         Work in process                                                  812                   680
         Raw materials and supplies                                     2,874                 2,245
         Less allowance for inventory obsolescence                      (322)                 (255)
                                                              ----------------      ----------------
                                                            $           6,249   $             5,701
                                                              =================     =================
</TABLE>

3.       COMPREHENSIVE INCOME

         The components of comprehensive income, net of related tax, are as
follows:

<TABLE>
<CAPTION>
                                                                Six months            Six months
                                                                   ended                 ended
                                                               June 30, 1999         June 30, 1998
                                                              ----------------      ----------------
<S>                                                           <C>                   <C>
                Net Income                                    $         3,777       $         2,070
                Foreign currency translation adjustments                    -                  (60)
                                                              ================      ================
                Comprehensive income                          $         3,777       $         2,010
                                                              ================      ================
</TABLE>


                                       7
<PAGE>   8


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

         The following discussion should be read in conjunction with
Management's Discussion and Analysis of Financial Condition and Results of
Operations included as Item 7 of Part II of the Company's Annual Report on Form
10-K for the year ended December 31, 1998.

RESULTS OF OPERATIONS

         Comparison of Three Months Ended June 30, 1999 and 1998

         NET SALES: Net sales increased $2.2 million, or 9.6%, from $22.7
million in the second quarter of 1998 to $24.9 million in the second quarter of
1999. This increase is due to improved aftermarket sales and increased sales
activity with General Motors and Toyota.

         COST OF GOODS SOLD AND GROSS PROFIT: Cost of sales increased $0.5
million, or 3.6% from $13.4 million in the second quarter of 1998 to $13.9
million in the second quarter of 1999. This increase is due to higher volume
offset by favorable cost reductions and improved distribution efficiency through
full truckload volumes. Gross profit increased $1.7 million, or 18.4% from $9.3
million in the second quarter of 1998 to $11.0 million in the second quarter of
1999. Gross profit margins increased from 40.8% in the second quarter of 1998 to
44.1% the second quarter of 1999. This improvement was due to the Company's
continued cost reduction efforts and improved plant utilization.

         SELLING, GENERAL AND ADMINISTRATIVE EXPENSES: Selling, general and
administrative expenses increased $0.6 million, or 17.4% from $3.6 million in
the second quarter of 1998 to $4.2 million in the second quarter of 1999. As a
percentage of sales, selling, general and administrative expenses increased from
15.7% in the second quarter of 1998 to 16.8% in the second quarter of 1999. This
increased expense is due to a new co-branding advertising campaign with the
NASCAR trademark through print, radio and television, which resulted in record
setting sales in the second quarter of 1999.

         OPERATING INCOME: As a result, operating income increased $1.0 million
or 20.5% from $5.0 million in the second quarter of 1998 to $6.0 million in the
second quarter of 1999.

         INTEREST EXPENSE: Interest expense decreased $0.2 million or 8.4% from
$2.3 million in the second quarter of 1998 to $2.1 million in the second quarter
of 1999 due to senior note repurchases in 1998.


         Comparison of Six Months Ended June 30, 1999 and 1998

         NET SALES: Net sales increased $6.2 million, or 15.2%, from $41.2
million in the first six months of 1998 to $47.4 million in the first six months
of 1999. This increase is due to improved aftermarket sales and increased sales
activity with General Motors and Toyota.

         COST OF GOODS SOLD AND GROSS PROFIT: Cost of sales increased $1.4
million, or 5.3% from $25.6 million in the first six months of 1998 to $27.0
million in the first six months of 1999. This increase is due to higher volume
offset by favorable cost reductions and improved distribution efficiency through
full truckload volumes. Gross profit increased $4.9 million, or 31.4% from $15.5
million in the first six months of 1998 to $20.4 million in the first six months
of 1999. Gross profit margins increased from 37.7% in the first six months of
1998 to 43.0% the first six months of 1999. This improvement is due to the
Company's continued cost reduction efforts and improved plant utilization.

         SELLING, GENERAL AND ADMINISTRATIVE EXPENSES: Selling, general and
administrative expenses increased $2.1 million, or 35.5% from $6.0 million in
the first six months of 1998 to $8.1 million in the first six months of 1999. As
a percentage of sales, selling, general and administrative expenses increased
from

                                       8
<PAGE>   9

14.6% in the first six months of 1998 to 17.2% in the first six months of 1999.
This increased expense is due to a new co-branding advertising campaign with the
NASCAR trademark through print, radio and television, which resulted in record
setting sales in the second quarter of 1999.

         OPERATING INCOME: As a result, operating income increased $2.6 million
or 32.1% from $7.9 million in the first six months of 1998 to $10.5 million in
the first six months of 1999.

         INTEREST EXPENSE: Interest expense decreased $0.4 million or 8.9% from
$4.5 million in the first six months of 1998 to $4.1 million in the first six
months of 1999 due to senior note repurchases in 1998.


LIQUIDITY AND CAPITAL RESOURCES

         The Company's primary capital requirements for its operations are
working capital (principally inventory and accounts receivable) and capital
expenditures. In addition, the Company has annual note payments of $400,000 and
semi-annual interest (only) payments due on its unsecured 10.75% Senior Notes
due in 2004 ("Notes") and, if used, quarterly payments due on its revolving
Credit Facility. The Company's working capital at June 30, 1999 was $12.5
million compared to $18.5 million at December 31, 1998.

         The Company's consolidated debt-to-equity ratio decreased to 1.81:1 at
June 30, 1999 from 1.97: 1 at December 31, 1998. At June 30, 1999, the Company
had approximately $79.8 million of outstanding debt, including $76.8 million of
senior notes payable, $1.2 million in various notes payable, and $1.8 million in
capital lease obligations. As of June 30, 1999, the Company had no outstanding
borrowings and $12.5 million of borrowing ability available under the Credit
Facility.

         Management believes that funds generated from operations and funds
available under the Credit Facility will be sufficient to satisfy the Company's
debt service obligations, working capital requirements and commitments for
capital expenditures through at least 1999, but that any significant
acquisitions by the Company would generally require additional financing. There
can be no assurance that such acquisition financing will be available to the
Company on satisfactory terms.



YEAR 2000 COMPLIANCE

         The Company continues to implement the remediation and acceptance
testing phases of its Year 2000 program described in the Company's annual report
on Form 10-K for the year ended December 31, 1998, which is incorporated herein
by reference. The Company as of the end of the second quarter is 93% compliant
in remediation and acceptance testing.



ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         The Company is exposed to market risks, which include changes in U.S.
interest rates and commodity prices. The Company does not engage in financial
transactions for trading or speculative purposes.


                                       9
<PAGE>   10




         INTEREST RATE RISK. The interest payable on the Company's Credit
Facility is affected by changes in market interest rates. As of June 30, 1999,
the Company had no outstanding debt under the Credit Facility. Based on
borrowings through June 30, 1999, a 10% increase or decrease in the average cost
of the Company's Credit Facility debt would not be material. In addition, the
Company has fixed income investments consisting of cash equivalents and
short-term investments in marketable debt securities, which are also affected by
changes in market interest rates. The Company does not use derivative financial
instruments in its investment portfolio.

         COMMODITY PRICES. The Company is exposed to fluctuation in market
prices for plastic and electricity related to its manufacturing operations. The
Company manages its exposure to changes in those prices primarily through the
terms of its supply and procurement contracts. This exposure is material to the
Company.



PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS

         From time to time, the Company is subject to legal proceedings and
other claims arising in the ordinary course of its business. The Company
maintains insurance coverage against claims in an amount which it believes to be
adequate. The Company believes that it is not presently a party to any such
ordinary course litigation the outcome of which would have a material adverse
effect on its financial condition or results of operations. Set forth below is
an update of material developments in certain non-ordinary course litigation
more fully described in the Company's Annual Report on Form 10-K for the year
ended December 31, 1998, and Quarterly Report on Form 10-Q for fiscal quarter
ended March 31, 1999.

CLASS ACTION LAWSUITS

         The Company, along with various other manufacturers of pickup truck
bedliners, is a defendant in certain class action lawsuits. The plaintiffs in
these lawsuits allege that the bedliners prevent the discharge of static
electricity which can accumulate during the filling of portable fuel containers
creating the potential for fire or explosion and that they did not receive any
warning of this danger. The Company has placed warning labels on its bedliners
since 1996. On July 20, 1999, the Circuit Court for Champaign County, Illinois
granted preliminary approval of a settlement in which the Company and the other
defendants would fund a public education campaign, use uniform warning label,
and pay the plaintiffs' attorneys' fees. The Company has established reserves on
its financial statements for its portion of the settlement. A hearing on final
court approval is set for October 15, 1999. In the event the settlement is not
approved by the court, the Company intends to vigorously defend these lawsuits.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         On April 30, 1999, the Company sold an aggregate of 3,350.4982 shares
of common stock to Mr. Samuel Mostkoff, Vice President and General Counsel, for
$150,000 in cash and a Promissory Note in the principal sum of $50,000 at an
interest rate of 8% per annum with a maturity date of April 30, 2004 and secured
by a pledge of stock. This stock sale was exempt from registration under Section
4(2) of the Securities Act of 1933, as amended.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         Not Applicable

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

         Not Applicable


                                       10
<PAGE>   11

ITEM 5.  OTHER INFORMATION

         Not Applicable



                                       11
<PAGE>   12




ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits - See below


Exhibit Description

10.1     Amendment to Lease Schedule #48500-03 between Firstar Leasing Services
         Corporation dated July 6, 1999

27.1     Financial Data Schedule (for SEC use only)





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<PAGE>   13




                                   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.

                                            PENDA CORPORATION

Date: July 30, 1999                 By: /s/ Jack L. Thompson
                                        ----------------------------------------
                                    Jack L. Thompson
                                    President and Chief Executive Officer
                                    (Principal Executive Officer)



Date: July 30, 1999                 By: /s/ Leo. E. Waner
                                        ----------------------------------------
                                    Leo E. Waner
                                    Vice President - Chief Financial Officer
                                    (Principal Financial and Accounting Officer)



                                       13