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 July 31, 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 July 31, 2000, the registrant had 3,402,054  shares of Common Stock,  $.01
par value, issued and outstanding.

                                        1


<PAGE>



Part I.   FINANCIAL INFORMATION

Item 1:    Financial Statements                         CONDENSED BALANCE SHEET

                                                         July 31     October 31
                                                          2000          1999
     ASSETS                                            -----------   ----------
----------------------                                (Unaudited)     (Note 1)
CURRENT ASSETS

Cash and cash equivalents ............................  $1,030,523   $1,100,816

Investments in available-for-sale securities .........   2,217,289    2,043,959

Trade accounts receivable less allowance

for doubtful accounts of $42,000 .....................     768,099      757,665

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

Inventories ..........................................   3,496,801    2,413,123

Prepaid expenses and deposits ........................     287,693      247,391
 .
Deferred tax assets ..................................      74,000       74,000
                                                         ----------   ----------
     TOTAL CURRENT ASSETS ............................   7,886,405    6,648,954

PROPERTY AND EQUIPMENT

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

Equipment and tooling ................................     675,380      481,768
                                                         ----------   ----------
     Property and equipment, at cost .................     859,382      665,770

Less accumulated depreciation and amortization .......     583,587      530,935
                                                         ----------   ----------

     NET PROPERTY AND EQUIPMENT ......................     275,795      134,835

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

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

Other assets .........................................      11,471        4,900
                                                         ----------   ----------
     TOTAL ASSETS ....................................  $8,321,671   $6,936,689
                                                         ==========   ==========


                  See Notes to Condensed Financial Statements


                                       2
<PAGE>


                                                        CONDENSED BALANCE SHEET

                                                         July 31     October 31
                                                          2000          1999
                                                       -----------   ----------
                                                       (Unaudited)     (Note 1)
LIABILITIES AND
STOCKHOLDER'S EQUITY
-----------------------------

CURRENT LIABILITIES

Accounts payable .................................... $  274,202     $   88,496

Accrued expenses ....................................    465,028        357,843
                                                      -----------    -----------
     TOTAL  LIABILITIES ............................     739,230        446,339
                                                      -----------    -----------


STOCKHOLDERS' EQUITY

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

  Issued 3,402,054 and 3,148,598 shares ............      34,021         31,486


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

Retained earnings ..................................   3,231,430      2,348,351

Unearned compensation ..............................    (141,060)      (211,602)

Receivables from sale of stock .....................    (175,258)       (25,900)

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

     TOTAL STOCKHOLDERS' EQUITY ...................    7,582,441      6,490,350
                                                      -----------    -----------

      TOTAL LIABILITIES AND

        STOCKHOLDERS' EQUITY .....................   $ 8,321,671    $ 6,936,689
                                                      ===========    ===========


                   See Notes to Condensed Financial Statements


                                        3


<PAGE>




                                          CONDENSED STATEMENTS OF INCOME

                                     (Unaudited)               (Unaudited)
                                 Three Months Ended          Nine Months Ended
                               ----------------------     ----------------------
                                  2000         1999          2000         1999
                               ----------   ---------     ---------   ----------

Net sales ..................   $2,311,667   $1,598,851   $5,964,646   $4,421,668

Cost of sales ..............    1,091,539      618,884    2,802,631    2,028,026
                               ----------   ----------   ----------   ----------
Gross profit ...............    1,220,128      979,967    3,162,015    2,393,642
                               ----------   ----------   ----------   ----------
Operating expenses:

     Engineering ...........       83,153       73,065      221,744      213,564

     Selling and general ...      535,272      441,912    1,565,415    1,290,000
                               ----------   ----------   ----------   ----------
       Totals ..............      618,425      514,977    1,787,159    1,503,564
                               ----------   ----------   ----------   ----------
Operating income ...........      601,703      464,990    1,374,856      890,078

Interest income ............       33,097       31,041       97,223       94,350
                               ----------   ----------   ----------   ----------
Income before provision

     for income taxes ......      634,800      496,031    1,472,079      984,428

Provision for income taxes..      254,000      202,000      589,000      398,000
                               ----------   ----------   ----------   ----------
Net income .................   $  380,800   $  294,031   $  883,079   $  586,428
                               ==========   ==========   ==========   ==========

Basic earnings per share ...   $      .11   $      .10   $      .27   $      .19
                               ==========   ==========   ==========   ==========
Diluted earnings per share..   $      .10   $      .08   $      .24   $      .16
                               ==========   ==========   ==========   ==========
Basic weighted average

    shares outstanding .....    3,402,054    3,093,581    3,299,085    3,083,745
                               ==========   ==========   ==========   ==========
Diluted weighted average

   shares outstanding ......    3,735,175    3,593,581    3,708,455    3,583,745
                               ==========   ==========   ==========   ==========



                   See Notes to Condensed Financial Statements


                                        4


<PAGE>

<TABLE>
<CAPTION>

                                                               CONDENSED STATEMENTS OF CASH FLOWS

                                                                           (Unaudited)
                                                                    Nine Months Ended July 31
                                                                  ----------------------------
OPERATING ACTIVITIES                                                  2000            1999
                                                                  -----------      -----------
<S>                                                              <C>            <C>
Net income ..................................................    $   883,079    $   586,428

Adjustments to reconcile net income
to net cash provided by operating activities:

     Depreciation and amortization ..........................         52,652         45,971
     Amortization of unearned compensation ..................         70,542         80,406
     Changes in operating assets and liabilities:
          Trade accounts receivable .........................        (10,434)       161,018
          Inventories .......................................     (1,083,678)        81,493
          Other assets ......................................        (46,873)        (4,386)
          Accounts payable ..................................        185,706        (69,078)
          Accrued expenses ..................................        107,185       (159,781)
                                                                  -----------    -----------
 Net cash  provided by  operating activities ................        158,179        722,071
                                                                  -----------    -----------
INVESTING ACTIVITIES

         Purchase of available-for-sale securities ..........       (173,330)      (895,022)
         Capital expenditures ...............................       (193,612)       (24,784)
                                                                  -----------    -----------
 Net cash used in financing activities ......................       (366,942)      (919,806)
                                                                  -----------    -----------
FINANCING ACTIVITIES

          Purchase of 29,400 treasury stock .................                       (52,853)
          Proceeds from exercise of 162,220 and 70,000

            common stock options ............................        138,470         27,700
                                                                  -----------    -----------
 Net cash provided by (used in) financing activities ........        138,470        (25,153)
                                                                  -----------    -----------
 Net decrease in cash and cash equivalents ..................        (70,293)      (222,888)
 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 .............    $ 1,030,523    $   986,255
                                                                  ===========    ===========
</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 July 31, 2000,  and its results of operations for the three and
nine  months  ended July 31,  2000 and 1999,  and cash flows for the nine months
ended July 31,  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  Financial  Statements  and the
other information also included in the 10-KSB.

Note 2 - Interim results

The results of operations  for the three month and nine month periods ended July
31, 2000 and 1999 are not  necessarily  indicative of the results to be expected
for the remainder of the year.

Note 3 - Components of inventory

                                                     July 31, 2000
                                                 --------------------
                                                      (Unaudited)

          Raw material and supplies .........   $       437,101

          Finished goods.....................         3,059,700
                                                   --------------
          TOTAL.............................        $ 3,496,801
                                                   ==============


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
markets 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.

Net sales and other  related  segment  information  for the three and nine month
periods ended July 31, 2000 and 1999 as follows:


                                        6


<PAGE>




Three months ended July 31,               Connector       Neulink       Total
                                         -----------    -----------   ---------
        2000
    ------------

Net sales ...........................   $2,118,336     $  193,331     $2,311,667
Income (loss) before
provision for income taxes...........      790,042       (155,242)       634,800

        1999
     ----------

Net sales ............................  $1,316,153     $  282,698     $1,598,851
Income before
provision for income taxes............     401,898         94,133        496,031


Nine months ended July 31,

       2000
     --------

Net sales ............................  $5,490,785     $  473,861     $5,964,646
Income (loss) before
provision for income taxes............   1,650,258       (178,179)     1,472,079

      1999
    --------

Net sales ............................  $3,554,698     $  866,970     $4,421,668
Income before
provision for income taxes............     925,676         58,752        984,428


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 July 31,  2000 and the  changes  in the  number of shares
subject  to  options  during the nine  months  ended July 31,  2000 is set forth
below:

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

Options outstanding, November 1, 1999..............    917,233      $.10 - $5.75
Granted ...........................................    100,000      $       1.50
Exercised (A) .....................................   (253,456)     $.10 - $5.75
                                                   ------------
Options outstanding, July 31, 2000 ................    763,777      $.10 - $5.75
                                                   ============     ============


                                       7

<PAGE>


(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  condensed  statement of
cash flows for the nine months ended July 31,  2000.  The  remaining  notes will
mature at various dates through October 31, 2000.

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        Nine Months Ended
                                                                July 31                  July 31
                                                         ---------------------     ----------------------
                                                           2000         1999         2000          1999
                                                         --------     --------     --------      --------
<S>                                                    <C>          <C>          <C>          <C>
Numerators:

      Net income (A) .............................     $  380,800   $  294,031   $  883,079   $  586,428
                                                       ==========   ==========   ==========   ==========
Denominators:
   Weighted average shares outstanding for
       basic net earnings per share (B) ..........      3,402,054    3,093,581    3,299,085    3,083,745

   Add effects of potentially dilutive securities-
         assumed exercise of stock options .......        333,121      500,000      409,370      500,000
                                                       ----------   ----------   ----------   ----------
    Weighted average shares for diluted net
          earnings per share (C) .................      3,735,175    3,593,581    3,708,455    3,583,745
                                                       ==========   ==========   ==========   ==========
Basic net earnings per share (A) / (B) ...........            .11          .10          .27          .19
                                                       ==========   ==========   ==========   ==========
Diluted net earnings per share (A) / (C) .........            .10          .08          .24          .16
                                                       ==========   ==========   ==========   ==========
</TABLE>




                                        8


<PAGE>



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.

Three Months 2000 vs. Three Months 1999

Net sales increased 45%, or $712,816, to $2,311,667from $1,598,851 last year. RF
Connectors  sales  increased  $806,991,  or  61%  to  $2,118,336,   compared  to
$1,316,153  last year.  The increase is due  primarily to higher Cable  Assembly
sales and increased sales of coaxial  connectors.  Sales at RF Neulink decreased
32% to $193,331 compared to $282,698 last year.

Cost of sales increased $472,655, or 76%, to $1,091,539 from $618,884 last year.
As a percent of sales,  cost of sales  increased to 47% from 39% last year. Cost
of sales, which was unusually low in the third quarter last year due to a highly
favorable  product mix, returned to its typical range of 45% - 50% for the third
quarter this year.

Engineering  expenses  increased  $10,088,  or 14%, to $83,153 from $73,065 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  primarily to
record sales in the quarter.

                                        9


<PAGE>



Selling and  general  expenses  increased  $93,360,  or 21%,  to  $535,272  from
$441,912 last year. The increase is due primarily to higher travel,  advertising
and  insurance  expenses.  As a percent  of sales,  selling  and  administrative
expenses declined to 23% from 28% due to record quarterly sales.

Interest income increased $2,056 to $33,097 from $31,041 last year due primarily
to higher  average cash  balances and higher  interest  rates earned on cash and
invested securities.

Income before taxes increased  $138,769,  or 28%, to $634,800 from $496,031 last
year.  The increase is due  primarily to higher gross  profits due to the record
sales.

Net income increased $86,769,  or 30%, to $380,800 from $294,031 last year. As a
percent of sales,  the net margin was 16% compared to 18% last year.  Net income
last year benefitted from unusually strong gross margins due to a very favorable
product mix for the quarter.

Per share earnings were $0.11,  comparted to $0.10 last year.  Basic and diluted
weighted  average  shares  outstanding  increased 10% to 3,402,054,  compared to
3,093,581  last year,  and 4% to  3,735,175,  compared to  3,593,581  last year,
respectively.  The increase in basic  weighted  average  shares  outstanding  is
primarily  due to the exercise of 253,456  stock  options  during the second and
third quarters of fiscal 2000.


Nine Months 2000 vs. Nine Months 1999

Net sales increased  $1,542,978,  or 35%, to a nine month record $5,964,646 from
$4,421,668 for the same period last year. RF Connectors sales increased 54% to a
nine month record  $5,490,785 from $3,554,698 last year.  Connector record sales
are due to the growing wireless industry, the addition of new distributors,  new
products and the growing cable  assembly  program.  Neulink sales were $473,861,
down  45%  from  $866,970  in the  same  period  last  year.  Neulink  is  being
repositioned as a Value-Added distributor of wireless modem solutions.

Cost of sales  increased  $774,605,  or 38%, to $2,802,631  from $2,028,026 last
year.  As a percent of sales,  cost of sales  increased to 47% of sales from 46%
last year.  Cost of sales were  unusually  low in the third  quarter  last year,
contributing to the lower expenses for the comparable nine month period.

Engineering  expenses  increased  $8,180,  or 4%, to $221,744 from $213,564 last
year. As a percent of sales,  engineering expenses declined to 4% compared to 5%
of sales due to record sales.

Selling and general expenses increased $275,415,  or 21%, to $1,565,415 compared
to $1,290,000  last year.  The increase is due primarily to higher  expenses for
travel,  advertising,  insurance and trade shows.  Selling and general  expenses
decreased,  as a percentage  of sales,  to 26% from 29% for the same period last
year in response to the Company's record sales.

Interest income increased $2,873 to $97,223 from $34,350 last year due primarily
to higher overall cash and cash  equivalent  balances and higher  interest rates
earned.

Income before taxes increased $487,651, or 50%, to $1,472,079 from $984,428 last
year. The increase is attributable  primarily to higher gross profits related to
record sales.

                                       10


<PAGE>



The provision for taxes was approximately 40% in both periods.

Net income increased $296,651, or 50%, to $883,079 from $586,428 last year. As a
percent of sales, the net margin was 15% compared to 13% last year. The increase
in net margins is due  primarily  to higher  gross  profits  from the  Company's
record sales.

Per share  earnings were $0.27,  compared to $0.19 last year.  Basic and diluted
weighted  average  shares  outstanding  increased 7% to  3,299,085,  compared to
3,083,745  last year and 3% to  3,708,455,  compared  to  3,583,745  last  year,
respectively.  The  increase  in shares  outstanding  is due to the  exercise of
253,406 stock options during the first nine months of fiscal 2000.


Material changes in financial condition:

Cash  decreased  $70,293 to  $1,030,523  compared to the October 31, 1999 fiscal
year end balance of $1,100,816.  Cash and cash equivalents increased $103,037 to
$3,247,812 at July 31, 2000,  compared to  $3,144,775 at October 31, 1999.  Cash
was used  primarily  to acquire new  equipment  for the growing  Cable  assembly
business and to expand  inventories to support the Company's record sales levels
and growing distributor base. The Company also transferred  additional cash into
the investment account.

Trade accounts  receivable  increased $10,434, or 1% to $768,099 compared to the
October 31, 1999 balance of $757,665.  This minor increase is  attributable to a
higher sales rate in the first nine months of fiscal 2000.

Inventories  increased  $1,083,678,  to $3,496,801,  compared to the October 31,
1999  inventory  of  $2,413,123.  This  increase  is  necessary  to support  new
distributors and record sales levels.

Prepaid deposits and expenses increased $40,302 compared to the October 31, 1999
balance of  $247,391.  The increase is due  primarily  to the Company  prepaying
insurance for cargo shipments.

Increased capital  expenditures for property and equipment reflect higher levels
of equipment and tooling,  which increased $193,612 to $675,380 at July 31, 2000
from $481,768 at October 31, 1999.  This  increase is primarily  for  production
equipment to support the Company's growing cable assembly business.

Current  liabilities  increased  $292,891  to  $739,230  at July 31,  2000  from
$446,339 at October 31, 1999.  This is primarily  due to a $185,706  increase in
accounts payable to $274,202 at July 31, 2000 compared to $88,496 at October 31,
1999.  This  increase is due to higher  expenses for  inventory  and other costs
connected with the Company's rapid sales growth.

                                       11


<PAGE>



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 July 31, 2000.



                                       12


<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: September 12, 2000                   By:  /s/   Howard F. Hill
                                            -----------------------------------
                                                 Howard F. Hill, President
                                                 Chief Executive Officer

Dated:  September 12, 2000                   By:  /s/   Terrie A. Gross
                                            -----------------------------------
                                                 Terrie A. Gross
                                                 Chief Financial Officer





                                       13