For quarter ended March 31, 2001

Commission File Number 2-15966

|TAYCO DEVELOPMENTS, INC.                              
|------------------------------------------------------
|(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

|NEW YORK                                                       |  | 16-0835557                             
|-------------------------------------------------------------- |  | ---------------------------------------
|(State or other Jurisdiction of incorporation or
organization) |  | (I.R.S. Employer Identification Number)

|100 TAYLOR DRIVE, NORTH TONAWANDA, NEW YORK |  | 14120-0748
|------------------------------------------- |  | ----------
|Address of Principal Executive Offices      |  | Zip Code  

|Registrant's telephone number, including area code - 716-694-0877
|-----------------------------------------------------------------

Indicate by check mark whether the registrant (1) has filed all annual, quarterly, and other reports
required to be filed with all the Commission and (2) has been subject to the filing requirements for at
least the past 90 days.



|Yes X      No |  |  |  | 
|------------- |  |  |  | 

Indicate the number of shares outstanding, of each of the Issuer's classes of common stock as of the close
of the period covered by this report.

|CLASS                             |  | Outstanding at March 31, 2001
|--------------------------------- |  | -----------------------------
|Common Stock

(5 cents par value) |  | 990,213                      



|PART I                     | FINANCIAL INFORMATION |                                                                                               | PAGE
|-------------------------- | --------------------- | --------------------------------------------------------------------------------------------- | ----
|                           |                       |                                                                                              
|                           | Item 1.               | Financial Statements                                                                         
|                           |                       |                                                                                              
|                           |                       | Balance Sheets, March 31, 2001 and June 30, 2000                                              | 3   
|                           |                       |                                                                                              
|                           |                       | Statements of Income for three months and nine months ended
March 31, 2001 and March 31, 2000 | 4   
|                           |                       |                                                                                              
|                           |                       | Statement of Cash Flows for nine months ended March 31, 2001
and March 31, 2000               | 5   
|                           |                       |                                                                                              
|                           |                       | Notes to  Condensed Financial Statements                                                      | 6   
|                           |                       |                                                                                              
|                           | Item 2.               | Management's Discussion and Analysis of the Financial
Condition and Results of Operations     | 7   
|                           |                       |                                                                                              
|PART II -                  | OTHER INFORMATION    
|                           | Item 1.               | Legal Proceedings                                                                             | 10  
|                           | Item 2.               | Changes in Securities                                                                         | 10  
|                           | Item 3.               | Defaults Upon Senior Securities                                                               | 10  
|                           | Item 4.               | Submission of Matters to Vote of Security Holders                                             | 10  
|                           | Item 5.               | Other Information                                                                             | 10  
|                           | Item 6.               | Exhibits                                                                                      | 10  
|ACCOUNTANTS' REVIEW REPORT | 11                   
|SIGNATURES                 |                       | 12                                                                                           

|ASSETS                                   | ****3/31/01                                                                         | ****6/30/00                  
|---------------------------------------- | ----------------------------------------------------------------------------------- | -----------------------------
|Current                                  |                                                                                     |                              
|                                         | Cash                                                                                | $     62,320                 
|                                         | Receivables - Affiliates, Current                                                   | 350,400                      
|                                         | Prepaid Other Expenses                                                              | 9,729                        
|                                         |                                                                                     | Total Current Assets         
|                                         |                                                                                     |                              
|Investments - Affiliate, at Equity       | 2,132,568                                                                           | 1,947,885                    
|Furniture and Equipment - At Cost        | 73,389                                                                              | 73,389                       
|                                         | Less: Accumulated Depreciation                                                      | 70,142                       
|                                         | 2,135,815                                                                           | 1,952,932                    
|Other Assets                             |                                                                                     |                              
|                                         | Patent, Net                                                                         | 137,796                      
|                                         | Receivables - Affiliates, Long-term                                                 | - 0 -                        
|                                         | Cash Value - Life Insurance, Net                                                    | 75,408                       
|                                         |                                                                                     | Total Other Assets           
|                                         |                                                                                     |                              
|TOTAL ASSETS                             | $2,771,468                                                                          | $2,526,109                   
|                                         |                                                                                     |                              
|LIABILITIES AND STOCKHOLDERS' EQUITY     |                                                                                     |                              
|Current                                  |                                                                                     |                              
|                                         | Accrued Income Tax                                                                  | $          - 0 -             
|                                         | Accrued Expenses                                                                    | - 0 -                        
|                                         |                                                                                     | Total Current Liabilities    
|                                         |                                                                                     |                              
|Non Current                              |                                                                                     |                              
|                                         | Deferred Income Tax                                                                 | 1,800                        
|                                         |                                                                                     | Total Non Current Liabilities
|                                         |                                                                                     |                              
|STOCKHOLDERS' EQUITY                     |                                                                                     |                              
|                                         | Common Stock, par value $.05 per share, 1,000,000 shares
authorized, 990,213 issued | 49,696                       
|                                         | Paid - In Capital                                                                   | 670,605                      
|                                         | Retained Earnings                                                                   | 2,054,996                    
|                                         | 2,775,297                                                                           | 2,477,221                    
|                                         |                                                                                     |                              
|                                         | Less: Treasury Stock, 3,709 Shares at Cost                                          | 5,629                        
|                                         |                                                                                     | Total Stockholders' Equity   
|                                         |                                                                                     |                              
|TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $2,771,468                                                                          | $2,526,109                   

See notes to condensed financial statements.

|                                                                                | Nine Months Ended March 31 | Three Months Ended March 31
|------------------------------------------------------------------------------- | -------------------------- | ---------------------------
|                                                                                |                            |                            
|                                                                                | 2001                       | 2000                       
|NET SALES                                                                       |                            |                            
|Royalties                                                                       | $   155,967                | $   184,065                
|Research & Development                                                          | 273,154                    | 242,636                    
|                                                                                | Total Revenues             | 429,121                    
|                                                                                |                            |                            
|EXPENSES                                                                        |                            |                            
|Research & Development                                                          | 122,026                    | 118,933                    
|Selling, General & Administrative                                               | 116,049                    | 116,719                    
|Amortization & Depreciation                                                     | 12,600                     | 12,600                     
|                                                                                | Total Expenses             | 250,675                    
|                                                                                |                            |                            
|Operating Income                                                                | 178,446                    | 178,449                    
|                                                                                |                            |                            
|OTHER INCOME/(EXPENSE)                                                          | (2,653)                    | (277)                      
|Income Before Provision for Income Taxes
and Equity in Net Income of Affiliates | 175,793                    | 178,172                    
|Provisions for Income Taxes                                                     | 62,400                     | 63,600                     
|                                                                                |                            |                            
|Income before Equity in Net Income of
Affiliates                                | 113,393                    | 114,572                    
|                                                                                |                            |                            
|Equity in Net Income of Affiliates                                              | 184,683                    | 121,832                    
|                                                                                |                            |                            
|NET INCOME                                                                      | $   298,076                | $   236,404                
|                                                                                |                            |                            
|NET INCOME PER SHARE                                                            | $         .301             | $         .239             

See notes to condensed financial statements.

|                                     | Nine Months EndedMarch 31                                                        
|------------------------------------ | ---------------------------------------------------------------------------------
|                                     |                                                                                  
|                                     | 2001                                                                             
|Cash Flows From Operating Activities |                                                                                  
|                                     | Net Income                                                                       
|                                     | Adjustments to reconcile Net Income to Net Cash Flows from
Operating  Activities:
|                                     |                                                                                  
|                                     |                                                                                  
|                                     |                                                                                  
|                                     | Changes in:                                                                      
|                                     |                                                                                  
|                                     |                                                                                  
|                                     |                                                                                  
|                                     |                                                                                  
|                                     |                                                                                  
|                                     | Net cash from operating activities                                               
|                                     |                                                                                  
|Cash Flows for Investing Activities  |                                                                                  
|                                     |                                                                                  
|                                     | Net Increase (Decrease) in Cash                                                  
|                                     |                                                                                  
|Cash Balance, Beginning of Period    | $    31,381                                                                      
|                                     |                                                                                  
|Cash Balance, End of Period          | $    62,320                                                                      

See notes to condensed financial statements.

|1. | The accompanying unaudited condensed financial statements have been prepared in accordance
with generally accepted accounting principles for interim financial information and with the
instructions to Form 10-QSB and Regulation S-B.  Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles for complete
financial statements. In the opinion of the Company, the accompanying unaudited condensed
financial statements contain all adjustments (consisting of only normal recurring accruals)
necessary to present fairly the financial position, results of operations, and cash flows as of March
31, 2001 and March 31, 2000 and the results of operations for the three and nine months then
ended.  These financial statements should be read in conjunction with the audited financial
statements and notes thereto contained in the Company's Annual Report to Shareholders for the
year ended June 30, 2000.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|2. | There is no provision nor shall there be any provision for profit sharing, dividends, or any other
benefits of any nature at any time for this fiscal year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|3. | To calculate the earnings per share for the three and nine month periods ended March 31, 2001
and March 31, 2000, the profit was divided by the outstanding shares of 990,213.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|4. | The results of operations for the three and nine month periods ended March 31, 2001 are not
necessarily indicative of the results to be expected for the full year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|5. | Significant Equity Investee: The Company owns a 25% equity investment in Taylor Devices, Inc.
For the 10 months ended 3/31/01 and 3/31/00, Taylor Devices, Inc. had sales of $10,338,402 and
$9,552,311, gross profit of $4,010,654 and $3,563,813 and net income of $658,577 and $442,501,
respectively.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    



The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking
statements.  Certain matters discussed in this section and elsewhere in this report, which are not historical
facts, are forward-looking statements.  Words such as "expects," "intends," "believes," "anticipates,"
"estimates," "assumes," and analogous expressions are intended to identify forward-looking statements.  As
such, these statements involve risks and uncertainties including, but not limited to, economic conditions,
product demand and industry capacity, competition, pricing pressures, the need for the Company to keep
pace with customer needs and technological developments, and other factors, many or all of which may be
beyond the control of the Company.  The following is management's discussion and analysis of certain
significant factors which have affected the Company's earnings during the periods included in the
accompanying consolidated condensed statements of income.

A summary of the period to period changes in the principal items included in the condensed statements of
income is shown below:

|                                           | Comparisons of Nine Months Ended


3/31/01 vs. 3/31/00
|------------------------------------------ | ------------------------------------------------------
|                                           |                                                       
|                                           |                                                       
|Royalties                                  |                                                       
|Research & Development                     |                                                       
|R&D Expense                                |                                                       
|SG&A                                       |                                                       
|Amortization / Depreciation                |                                                       
|Operating Income                           |                                                       
|Other Income (Expense)                     |                                                       
|Income Before Taxes & Equity in Affiliates |                                                       
|Provision for Taxes                        |                                                       
|Equity in Affiliates                       |                                                       
|Net Income                                 |                                                       

The Company posted its single best quarter (since the 1991 restructuring) in the third quarter of Fiscal Year
2001.  New record levels were established in all operating categories leading to a new record high quarterly
income figure.  Driven by these third quarter results, the nine month year-to-date figures also produced new
record high figures for total revenues and net income.

**For the Nine Months Ended 03/31/01 (all figures being compared are for the first nine months of Fiscal
Year 2001 versus the first nine months of Fiscal Year 2000)**

Total Revenues for FY01 increased to $429,121 compared to $426,701 for FY2000 as the $30,518 increase
in Research & Development Income more than offset a reduced figure for Royalties.  The R&D revenue
figure of $273,154, which represents a new record high for the nine month reporting period, was generated
by the continuing high utilization rate of the Company's technical staff and an increase in the hourly rate
charged.

Total Expenses increased slightly in FY2001, from $248,252 to $250,675, as savings in administrative areas
offset most of the personnel related increases.  With both revenues and expenses showing moderate increases
in FY 2001, the Operating Income for FY2001 was almost exactly the same as FY2000 - $178,446 versus
$178,449.  Minor differences in Other Expenses and the Tax Provision brought the difference  in the Income
before Equity in Affiliates to about $1,200, with FY2001 producing a figure of $113,393 versus $114,572
for FY2000.

For the first nine months of FY2001, Equity Income from the Company's two affiliates, Taylor Devices and
Tayco Realty was reported as $184,683, a record high figure for a nine month period and 51.6% higher than
last year's figure of $121,832.  This sizeable increase in Equity Income helped produce a record high Net
Income figure for FY2001 of $298,076 and Earnings Per Share of $.301 compared to the nine month figures
of $236,404 and $.239 per share for FY2000.  The income and EPS figures for FY2001 represent a 26.1%
improvement over the previous year.

**********For the Three Months Ended 03/31/01 (All figures being compared are for the three months ended
03/31/01 versus the three months ended 03/31/00)**As stated in the opening paragraph of this section, the three months ended 3/31/01 produced the most
favorable financial results of any of single quarter since the 1991 restructuring.   Revenues in both categories,
Royalties and R & D, exceeded $100,000 for the first time as the Company contributed to intensified levels
of effort on two substantial defense/aerospace contracts held by Devices.  Royalty Income was $101,619,
up $35,493 and 53.7% from the figure of $66,126 for FY2000.  R & D revenues improved by 8.8% and
$8,538, from $97,516 to $106,054 due in part to the rate increase implemented on February 1, 2001.
Combined Revenues were $207,673 for FY2001, improving by $44,031 and 26.9% over FY2000.   Total
Expenses declined slightly to $80,063 from $82,165 for FY2000.  After provisions for Other Expenses and
Taxes, Income from Operations for FY2001 was $77,537, a record high for any single quarter and 34.1%
higher than the figure of $57,831 for FY2000.The Equity in Net Income of Affiliates figure, $93,580, represents the best ever for a third quarter and the
second best for any single quarter.  It is also a 62.9% increase over the value of $57,432 for FY2000.  The
result of these record or near record figures for the third quarter of FY2001 was a Net Income of $171,117
and $.173 Earnings Per Share.  These are both record highs for any quarter and represent a 48.5%
improvement over the results of $115,263 and  $.116 per share for FY2000.******For the Remainder of FY01**As evidenced by the nine-month figures, the Company is currently operating at historically high profit levels
and should continue to do so in the near future.  The two defense/aerospace contracts which have received
the predominant portion of the technical staff's efforts for the past eighteen months are still at least partly
in the development stage and are both undergoing design/scope changes that could prolong the Company's
involvement.  Concurrently, the Company's engineers are involved in the design stage of motion control
devices used on aircraft flight simulators and are finalizing the manufacturing specifications on the dampers
for a "one-of-a-kind" pedestrian bridge located in Europe.On March 28, 2001, the Board of Directors of Tayco Developments, Inc. voted to change the Company's
fiscal year end from June 30 to May 31.  This date, which coincides with the fiscal year end date of its two
affiliates, will produce some administrative efficiencies and cost savings.  As a result of this conversion,
FY2001 will be an eleven-month year and the final financial results reported for FY2001 will most likely
approach, but not surpass the financial results of FY2000.At this time, Management does not foresee any need to seek funding from external sources.

|PART II- | OTHER INFORMATION
|-------- | -----------------
|         |                  
|         | ITEM 1           
|         |                  
|         |                  
|         | ITEM 2           
|         |                  
|         | ITEM 3           
|         |                  
|         | ITEM 4           
|         | ITEM 5           
|         |                  
|         | ITEM 6           
|         |                  
|         | 1.               

We have reviewed the condensed balance sheet of Tayco Developments, Inc. as of March 31, 2001, and
2000, and the related condensed statements of income and cash flows for the three and nine months then
ended.  These financial statements are the responsibility of the Company's management.

We conducted our review in accordance with standards established by the American Institute of Certified
Public Accountants.  A review of interim financial information consists principally of applying analytical
procedures to financial data and making inquiries of persons responsible for financial and accounting matters.
It is substantially less in scope than an audit conducted in accordance with generally accepted auditing
standards, the objective of which is the expression of an opinion regarding the financial statements taken as
a whole.  Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to the condensed
financial statements referred to above for them to be in conformity with generally accepted accounting
principles.

We have previously audited, in accordance with generally accepted auditing standards, the balance sheet as
of June 30, 2000, and the related statements of income, retained earnings, and cash flows for the year then
ended (not presented herein); and in our report dated August 4, 2000, we expressed an unqualified opinion
on those financial statements.  In our opinion, the information set forth in the accompanying condensed
balance sheet as of June 30, 2000 is fairly stated, in all material respects, in relation to the balance sheet from
which it has been derived.


Lumsden & McCormick, LLP

Buffalo, New York

April 23, 2001

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.

|TAYCO DEVELOPMENTS, INC.
|------------------------
|(Registrant)            

|By | /s/Douglas P. Taylor                                                                           |  | Date | May 9, 2001
|-- | ---------------------------------------------------------------------------------------------- |  | ---- | -----------
|   | Douglas P. Taylor

Chairman of the Board of Directors

President
(Principal Executive Officer) |  |      |            

|AND | 
|--- | 

|By | /s/Kenneth G. Bernstein                        |  | Date | May 9, 2001
|-- | ---------------------------------------------- |  | ---- | -----------
|   | Kenneth G. Bernstein

Chief Accounting Officer |  |      |