SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FOR 10-QSB

                 Quarterly Report Under Section 13 or 15 (d) of
                         Securities Exchange Act of 1934

                        for Quarter ended April 30, 2000
                         Commission File Number 0-13301

                               RF INDUSTRIES, LTD.

             (Exact name of registrant as specified in its charter)

                                Nevada 88-0168936

          (State of Incorporation) (I.R.S. Employer Identification No.)

        7610 Miramar Road., Bldg. 6000, San Diego, California 92126-4202

               (Address of principal executive offices) (Zip Code)

                        (858) 549-6340 FAX (858) 549-6345

              (Registrant's telephone number, including area code)
        Securities registered pursuant to Section 12(b) of the Act: None.


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

As of April 30, 2000, the registrant had 3,402,054 shares of Common Stock,  $.01
par value, issued and outstanding.



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<PAGE>



Part I.   FINANCIAL INFORMATION

Item 1:    Financial Statements                         CONDENSED BALANCE SHEET

                                                         April 30     October 31
                                                           2000          1999
                                                       -----------   -----------
      ASSETS                                           (Unaudited)     (Note 1)

CURRENT ASSETS

Cash ................................................   $  879,077   $1,100,816

Investments in available-for-sale securities ........    2,195,020    2,043,959

Trade accounts receivable less allowance
for doubtful accounts of $42,000 ....................      828,652      757,665

Notes receivable ....................................       12,000       12,000

Inventories .........................................    3,092,935    2,413,123

Prepaid expenses and deposits .......................      265,456      247,391

Deferred tax assets .................................       74,000       74,000
                                                         ----------   ----------
     TOTAL CURRENT ASSETS ...........................    7,347,140    6,648,954

PROPERTY AND EQUIPMENT

Furniture and office equipment ......................      181,510      184,002

Equipment and tooling ...............................      666,200      481,768
                                                         ----------   ----------
        Property and equipment, at cost .............      847,710      665,770

Less accumulated depreciation and amortization ......      562,994      530,935
                                                         ----------   ----------

     NET PROPERTY AND EQUIPMENT .....................      284,716      134,835

Note receivable from stockholder ....................       70,000       70,000

Deferred tax assets .................................       78,000       78,000

Other assets ........................................        4,900        4,900
                                                         ----------   ----------
     TOTAL ASSETS ...................................   $7,784,756   $6,936,689
                                                         ==========   ==========


                   See Notes to Condensed Financial Statements



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<PAGE>
                                                        CONDENSED BALANCE SHEET

                                                         April 30     October 31
                                                           2000          1999
                                                       -----------   -----------
                                                       (Unaudited)     (Note 1)
LIABILITIES AND
STOCKHOLDERS' EQUITY
--------------------------

CURRENT LIABILITIES

Accounts payable ................................... $   194,536    $    88,496

Accrued expenses ...................................     420,542        357,843
                                                      -----------    -----------
     TOTAL  LIABILITIES ............................     615,078        446,339
                                                      -----------    -----------

STOCKHOLDERS' EQUITY

Common Stock - $.01 par value
  Authorized - 10,000,000 shares

  Issued and outstanding 3,402,054 and
    3,148,59 shares.................................      34,021         31,486

Additional paid-in capital .........................   4,686,161      4,400,868

Retained earnings ..................................   2,850,631      2,348,351

Unearned compensation ..............................    (164,574)      (211,602)

Receivables from sale of stock .....................    (183,708)       (25,900)

Treasury stock, at cost (29,400 shares) ............     (52,853)       (52,853)
                                                      -----------    -----------

     TOTAL STOCKHOLDERS' EQUITY ...................    7,169,678      6,490,350
                                                      -----------    -----------

      TOTAL LIABILITIES &
        STOCKHOLDERS' EQUITY ......................  $ 7,784,756    $ 6,936,689
                                                      ===========    ===========




                   See Notes to Condensed Financial Statements



                                        3


<PAGE>

<TABLE>
<CAPTION>

                                                       CONDENSED STATEMENTS OF OPERATIONS

                                                    (Unaudited)                (Unaudited)
                                                 Three Months Ended          Six Months Ended
                                               -----------------------    ----------------------
                                                  2000         1999         2000         1999
                                               -----------  ----------    ---------   ----------
<S>                                            <C>          <C>          <C>          <C>
Net sales ...................................  $1,892,453   $1,492,019   $3,652,979   $2,822,817

Cost of sales ...............................     865,837      747,537    1,711,092    1,409,142
                                               ----------   ----------   ----------   ----------
     Gross Profit ...........................   1,026,616      744,482    1,941,887    1,413,675
                                               ----------   ----------   ----------   ----------

Operating expenses:
     Engineering ............................      73,110       74,905      138,591      140,498

     Selling and general ....................     521,417      436,269    1,030,143      848,089
                                               ----------   ----------   ----------   ----------
       Total ................................     594,527      511,174    1,168,734      988,587
                                               ----------   ----------   ----------   ----------
     Operating income .......................     432,089      233,308      773,153      425,088

Interest income .............................      33,568       31,861       64,127       63,309
                                               ----------   ----------   ----------   ----------
Income before provision
     for income taxes .......................     465,657      265,169      837,280      488,397
Provision for
     income taxes ...........................     185,000      107,000      335,000      196,000
                                               ----------   ----------   ----------   ----------
     Net income .............................  $  280,657   $  158,169   $  502,280   $  292,397
                                               ==========   ==========   ==========   ==========
Per share data:
     Basic earnings per share ...............  $     0.08   $     0.05   $     0.15   $     0.09
                                               ==========   ==========   ==========   ==========
     Diluted earnings per share .............  $     0.08   $     0.04   $     0.14   $     0.08
                                               ==========   ==========   ==========   ==========
     Basic weighted average
          shares outstanding ................   3,343,838    3,078,598    3,247,035    3,078,598
                                               ==========   ==========   ==========   ==========
     Diluted weighted average
         shares outstanding..................   3,705,794    3,578,598    3,685,798    3,578,598
                                               ==========   ==========   ==========   ==========

</TABLE>

                   See Notes to Condensed Financial Statements



                                        4


<PAGE>


<TABLE>
<CAPTION>

                                                          CONDENSED STATEMENTS OF CASH FLOWS

                                                                     (Unaudited)
                                                                   Six Months Ended
                                                                        April 30
                                                                 ---------------------
OPERATING ACTIVITIES                                               2000         1999
                                                                 --------     --------
<S>                                                          <C>            <C>
Net income ...............................................   $   502.280    $   292,397

Adjustments to reconcile net income
to net cash provided by (used in) operations

     Depreciation and amortization .......................        32,059         19,724
     Amortization of unearned compensation ...............        47,028         56,892
     Changes in operating assets and liabilities:
          Trade accounts receivable ......................       (70,987)       166,001
          Inventories ....................................      (679,812)       136,505
          Other assets ...................................       (18,065)        58,188
          Accounts payable ...............................       106,040       (135,681)
          Accrued expenses ...............................        62,699       (209,323)
                                                              -----------    -----------
 Net cash  provided by (used in) operating activities ....       (18,758)       384,703
                                                              -----------    -----------
INVESTING ACTIVITIES
         Purchase of available-for-sale securities .......      (151,061)       (37,102)
         Capital expenditures ............................      (181,940)       (12,841)
                                                              -----------    -----------
 Net cash used in investing activities ...................      (333,001)       (49,943)
                                                              -----------    -----------
FINANCING ACTIVITIES
          Purchase of treasury stock .....................             0        (52,853)
          Proceeds from exercise of common stock options..       130,020              0
                                                              -----------    -----------
 Net cash provided by (used in) financing activities .....       130,020        (52,853)
                                                              -----------    -----------
 Net  increase (decrease)  in cash and cash equivalents..       (221,739)       281,907
 Cash and cash equivalents at the
      beginning of the period ...........................      1,100,816      1,209,143
                                                             -----------    -----------
 Cash and cash equivalents at the end of period ..........   $   879,077    $ 1,491,050
                                                             ===========    ===========

</TABLE>


                   See Notes to Condensed Financial Statements



                                        5


<PAGE>



NOTES TO CONDENSED FINANCIAL STATEMENTS

Note 1 - Unaudited interim financial statements:

In the opinion of management,  the accompanying  unaudited  condensed  financial
statements  reflect all adjustments,  consisting of normal  recurring  accruals,
necessary to present fairly the financial  position of RF Industries,  Ltd. (the
"Company") as of April 30, 2000,  and its results of  operations  and cash flows
for the three and six months ended April 30, 2000 and 1999. Information included
in the condensed balance sheet as of October 31, 1999 has been derived from, and
certain  terms used herein are defined in, the audited  financial  statements of
the Company as of October 31, 1999 and for the years ended  October 31, 1999 and
1998 (the  "Audited  Financial  Statements")  included in the  Company's  Annual
Report on Form 10-KSB (the  "10-KSB")  for the year ended  October 31, 1999 that
was previously  filed with the Securities and Exchange  Commission  (the "SEC").
Pursuant  to the rules  and  regulations  of the SEC,  certain  information  and
disclosures  normally  included in financial  statements  prepared in accordance
with generally  accepted  accounting  principles  have been condensed or omitted
from these  financial  statements  unless  significant  changes have taken place
since the end of the most  recent  fiscal  year.  Accordingly,  these  unaudited
condensed  financial  statements  should be read in conjunction with the Audited
Statements and the other information also included in the 10-KSB.

Note 2 - Interim reporting

The results of operations  for the three month and six month periods ended April
30, 2000 and 1999 are not  necessarily  indicative of the results to be expected
for the remainder of the year.

Note 3 - Components of inventory

                                                          April 30, 2000
                                                         ----------------
                                                           (Unaudited)

         Raw material and supplies.......................    $  371,150

         Finished goods..................................     2,721,785
                                                          --------------
         TOTAL...........................................   $ 3,092,935
                                                          ==============




Note 4 - Segment information

As further explained in Note 6 of the notes to the Audited Financial Statements,
the Company  reports  segment sales in the same format reviewed by the Company's
management  (the  "management  approach").  Management  identifies the Company's
segments based on strategic business units that are, in turn, based along market
lines.  These strategic  business units offer products and services to different
market in accordance  with their customer base and product  usage.  Accordingly,
the Company's two business  segments are centered on the  operations  associated
with the RF CONNECTOR Division and the NEULINK Division.



                                        6


<PAGE>



Net sales and other related  segment  information for the six months ended April
30, 2000 and 1999 as follows:

                                     Connector         Neulink          Total
                                    -----------      -----------      ---------
        2000
     ----------

Net sales ......................... $3,372,449       $  280,530       $3,652,979
Income (loss) before
provision for income taxes.........    860,216          (22,936)         837,280

       1999
    ----------

Net sales ......................... $2,238,545        $  584,272      $2,822,817
Income (loss) before
provision for income taxes.........    523,778           (35,381)        488,397

Note 5 - Stock options:

The  Company's  stock option  plans are  described in Note 8 of the notes to the
Audited  Financial  Statements.  The  number of shares  subject to options as of
November  1, 1999 and April 30,  2000 and the  changes  in the  number of shares
subject to  options  during the six  months  ended  April 30,  2000 is set forth
below:

[TABLE IS FOR ILLUSTRATIVE PURPOSES ONLY]
 ---------------------------------------


                                              Number of            Range of
                                               Shares            Exercise Price
                                         ------------------    -----------------

Options outstanding, November 1, 1999.......   917,233            $.10 - $5.75
Granted.....................................   100,000                   $1.50
Exercised...................................  (253,456)           $.10 - $5.75
Canceled....................................         0                       0
                                             ----------           ------------
Options outstanding, April 30, 2000.........   763,777            $.10 - $5.75
                                             ==========           ============

(A) The Company  received total  consideration  of $287,828 from the exercise of
the options of which $130,020 was paid in cash and $157,808 was paid through the
issuance of notes.  The  issuance  of shares in exchange  for notes is a noncash
transaction that is not reflected in the accompanying  2000 condensed  statement
of cash flows. The notes will mature at various dates through October 31, 2000.



                                        7


<PAGE>



Note 6 - Earnings per share:

The Company  presents  basic  earnings  per share and, if  appropriate,  diluted
earnings  per share as further  explained  in Note 1 of the notes to the Audited
Financial  Statements.  The following table  summarizes the calculation of basic
and diluted earnings per share:
<TABLE>
<CAPTION>

                                                          Three Months Ended          Six Months Ended
                                                               April 30                   April 30

                                                          2000          1999         2000          1999
                                                        --------      --------     --------      --------
<S>                                                    <C>            <C>           <C>           <C>
Numerators:
      Net income (A).................................  $280,657       $158,169      $502,280      $292,397
                                                       ========       ========      ========      ========
Denominators:
   Weighted average shares outstanding for
         basic net earnings per share (B)............. 3,343,838     3,078,598    3,247,0355     3,078,598

   Add effects of potentially dilutive securities -
         assumed exercise of stock options............   361,956       500,000       438,763       500,000
                                                      -----------   -----------   -----------   -----------
    Weighted average shares for diluted net
          earnings per share (C)...................... 3,705,794     3,578,598     3,685,798     3,578,598
                                                      ===========   ===========   ===========   ===========
Basic net earnings per share (A) / (B)................       .08           .05           .15           .09
                                                             ===           ===           ===           ===
Diluted net earnings per share (A) / (C)..............       .08           .04           .14           .08
                                                             ===           ===           ===           ===
</TABLE>


Note 7 - Lease commitments:

Note 7 - Lease commitments:

Effective June 1, 2000, the Company  entered into a new lease for its facilities
in San Diego,  California.  The lease  expires in May 2005 and requires  minimum
annual rental payments that are subject to fixed annual increases.

Minimum lease  payments  under this lease for the years ending  October 31, 2000
and thereafter are as follows:


                    Year Ending
                    October 31,
                  --------------

                       2000 ..................... $ 49,000

                       2001 .....................  120,000

                       2002 .....................  124,000

                       2003 .....................  129,000

                       2004 ....................   135,000

                        2005 .....................  80,000
                                                 ---------

                                  Total........  $ 637,000
                                                 =========


Item 2:  Management's discussion and analysis of financial condition and results
          of operations

This  report on Form  10-QSB  contains  forward-looking  statements  within  the
meaning of Section  27A of the  Securities  Act of 1933 and  Section  21E of the
Securities  Exchange Act of 1934. The Company intends that such  forward-looking
statements be subject to the safe harbors created thereby. This report should be
read in conjunction  with the Company's report on Form 10-KSB for the year ended
October 31, 1999.


                                        8


<PAGE>



THREE MONTHS 2000 VS. THREE MONTHS 1999

Net sales  increased 27%, or $400,434,  to $1,892,453 from $1,492,019 last year.
RF  Connectors  sales  increased  $565,149,  or 46% to  $1,758,183,  compared to
$1,193,034  for the same period last year.  The  increase is due to higher Cable
Assembly sales and increased  sales of coaxial  connectors.  Sales at RF Neulink
decreased 55% to $134,270 compared to $298,985 last year.

Cost of sales increased  $118,300,  or 16%, to $865,837 from $747,537 last year.
As a percent of sales,  cost of sales  declined  to 47% from 50% last year.  The
improvement  in gross  margin is  attributable  to the record sales level and to
increased sales of higher-margin cable assembly products.

Engineering expenses decreased $1,795, or 2%, to $73,110 from $74,905 last year.
As a percent of sales, engineering expenses declined to 4% from 5% of sales last
year.  The  decline as a percent of sales is  attributable  to  increased  sales
levels.

Selling and  general  expenses  increased  $85,148,  or 20%,  to  $521,417  from
$436,269  last year.  The  increase  is due to higher  travel,  advertising  and
insurance expenses.  As a percent of sales, selling and administrative  expenses
declined to 28% from 29% due to the Company's record second quarter sales.

Interest income increased $1,707 to $33,568 from $31,861 last year due to higher
average cash balances and higher interest rates.

SIX MONTHS 2000 VS. SIX MONTHS 1999

Net sales increased $830,162, or 29%, to $3,652,979 from $2,822,817 for the same
period  last  year.  RF  Connectors  sales  increased  51%  to  $3,372,449  from
$2,238,544 last year. Neulink sales were $280,530, down 52% from $584,273 in the
same  period  last  year.   Neulink  is  being  repositioned  as  a  Value-Added
distributor of wireless modem solutions.

Cost of sales  increased  $301,950,  or 21%, to $1,711,092  from $1,409,142 last
year.  Cost of sales  declined  to 47% of sales from 50% last year due to record
sales and increased sales of higher margin cable assembly products.

Engineering  expenses  decreased  $1,907,  or 1%, to $138,591 from $140,498 last
year. This minor reduction is due to lower Neulink R & D expenses.

Selling and general expenses increased $182,054,  or 21%, to $1,030,143 compared
to  $848,089  last year.  The  increase  is due to higher  expenses  for travel,
advertising,  insurance and trade shows. Selling and general expenses decreased,
as a percentage of sales, to 28% from 30% for the same period last year.

Interest  income  increased $818 to $64,127 from $63,309 last year due to higher
overall cash and cash equivalent balances.

The provision for income taxes remained at  approximately  40% of income for all
periods.

The  increase  in basic and  diluted  weighted  average  shares  outstanding  is
attributable  to the issuance of and to the  increased  exercise of employee and
non-qualified employee stock options.

                                        9


<PAGE>



MATERIAL CHANGES IN FINANCIAL CONDITION:

Cash decreased $221,739 to $879,077 compared to the October 31, 1999 fiscal year
balance of  $1,100,816.  Cash and cash  equivalents  are $3,074,097 at April 30,
2000,  compared to $3,144,775 at October 31, 1999.  Cash was used to acquire new
equipment  to  support  the  growing  Cable  assembly  business  and  to  expand
inventories to support the Company's growing  distributor base. The Company also
transferred additional cash into the investment account.

Trade accounts  receivable  increased $70,987, or 9% to $828,652 compared to the
October 31, 1999 balance of $757,665.  This increase is attributable to a higher
sales rate in the first six months of fiscal 2000.

Inventories  increased  $679,812  compared to the October 31, 1999  inventory of
$2,413,123.  This increase is necessary to support new  distributors  and higher
sales levels.

Prepaid deposits and expenses increased $18,065 compared to the October 31, 1999
balance of $247,391.  The increase is due to  increased  prepaid  trade show and
inventory expenses.

PART II.   OTHER INFORMATION

        Items 1-4:     Not applicable

        Item 5:        Information required in lieu of Form 8-K

                       None.

        Item 6:        Exhibits and Reports on 8-K

                       (a)      None required

                       (b)      Reports on Form 8-K

                                No reports on Form 8-K were filed during  fiscal
                                 quarter ended April 30, 2000.

                                       10


<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.

                                               RF INDUSTRIES, LTD.


Dated:  March 14, 2000                    By: /s/    Howard F. Hill
                                             ----------------------------------
                                                 Howard F. Hill, President
                                                 Chief Executive Officer


Dated:  March 14, 2000                    By:  /s/   Terrie A. Gross
                                             ----------------------------------
                                                 Terrie A. Gross
                                                 Chief Financial Officer



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