UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 10 - Q


(Mark One)

_X_  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2008


___  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period
from__________to____________

Commission File No 0-2892

THE DEWEY ELECTRONICS CORPORATION


A New York Corporation

I.R.S. Employer Identification
No. 13-1803974

27 Muller Road
Oakland, New Jersey 07436
(201) 337-4700


Indicate by check mark whether the registrant has(1) 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 by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of "large accelerated filer",
"accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.

Large accelerated filer__ ___        Accelerated filer _____

Non-accelerated filer _____          Smaller reporting company__X_

Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).
YES___ NO_X_

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date:  1,362,031 at November
10, 2008.

                                   1



THE DEWEY ELECTRONICS CORPORATION


INDEX



                                                          Page No.

Part I  Financial Information

Item 1.  Condensed Financial Statements

         Condensed Balance Sheets -
         September 30, 2008(unaudited) and June 30, 2008      3

         Condensed Statements of Income -
         Three-months Ended September 30, 2008
         and 2007 (unaudited)                                 4

         Condensed Statements of Cash Flows for
         the Three-months Ended September, 2008
         and 2007 (unaudited)                                 5

         Notes to Condensed Financial Statements (unaudited)  6

Item 2.  Management's Discussion and Analysis of
            Financial Condition and Results of
            Operations                                        10

Item 4T.  Controls and Procedures                             18

Part II  Other Information


Item 2.  Unregistered Sales of Equity Securities and Use
         of Proceeds                                          19

Item 4.  Submission of Matters to a Vote of Security
         Holders                                              19

Item 6.  Exhibits                                             19


                                   2



PART I:  FINANCIAL INFORMATION

ITEM 1.CONDENSED FINANCIAL STATEMENTS

THE DEWEY ELECTRONICS CORPORATION
CONDENSED BALANCE SHEETS

                                         SEPTEMBER 30,     JUNE 30,
                                             2008            2008
                                         (unaudited)
ASSETS:
CURRENT ASSETS:
  CASH AND CASH EQUIVALENTS               $597,405         $205,122
  ACCOUNTS RECEIVABLE NET OF $23,815
    RESERVE                                764,596        1,467,055
  INVENTORIES                            1,043,612          854,390
  CONTRACT COSTS AND RELATED ESTIMATED
    PROFITS IN EXCESS OF BILLINGS          943,462        1,090,530
  PREPAID EXPENSES AND OTHER CURRENT
    ASSETS                                 134,649          117,957
                                           _______        _________

      TOTAL CURRENT ASSETS               3,483,724        3,735,054
                                         _________        _________

PLANT, PROPERTY AND EQUIPMENT:
  LAND AND IMPROVEMENTS                    651,015          651,015
  BUILDING AND IMPROVEMENTS              1,885,653        1,885,653
  MACHINERY AND EQUIPMENT                3,214,541        3,202,423
  FURNITURE AND FIXTURES                   213,984          207,805
                                         _________        _________
                                         5,965,193        5,946,896
Less accumulated depreciation            4,913,476        4,886,097
                                         _________        _________
                                         1,051,717        1,060,799

DEFERRED COSTS                              65,095           65,095
                                         _________        _________

TOTAL ASSETS                            $4,600,536       $4,860,948
                                        ==========       ==========

LIABILITIES AND STOCKHOLDERS' EQUITY:
CURRENT LIABILITIES:
  ACCOUNTS PAYABLE                         682,818          871,100
  BILLINGS IN EXCESS OF COSTS AND
     ESTIMATED EARNINGS                    112,778               --
  ACCRUED EXPENSES AND OTHER LIABILITIES   208,194          355,300
  ACCRUED COMPENSATION AND BENEFITS
     PAYABLE                               155,142          195,741
  ACCRUED PENSION COSTS                     92,920          109,492
                                          ________        _________

    TOTAL CURRENT LIABILITIES            1,251,852        1,531,633
                                         _________        _________

LONG-TERM PENSION LIABILITY                208,673          208,673
                                         _________        _________


STOCKHOLDERS' EQUITY:
  Preferred stock, par value $1.00;
    authorized  250,000  shares, issued
    and outstanding-none,                      --               --

  Common stock, par value $.01;
    authorized 3,000,000 shares; issued
    1,693,397 at September 30, 2008 and
    June 30, 2008                           16,934          16,934
  Additional paid-in capital             2,815,245       2,815,245
  RETAINED EARNINGS                        844,770         825,401
  ACCUMULATED OTHER COMPREHENSIVE LOSS     (49,910)        (49,910)
                                         _________       _________
                                         3,627,039       3,607,670
LESS: TREASURY STOCK 331,366 SHARES
    at cost                               (487,028)       (487,028)
                                         _________       _________

  TOTAL STOCKHOLDERS' EQUITY             3,140,011       3,120,642
                                         _________       _________
TOTAL LIABILITIES AND STOCKHOLDERS'
    EQUITY                              $4,600,536      $4,860,948
                                        ==========      ==========

SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS

                              3



THE DEWEY ELECTRONICS CORPORATION
CONDENSED STATEMENTS OF INCOME
(UNAUDITED)

                                              THREE-MONTHS ENDED
                                                SEPTEMBER 30,
                                           2008          2007

REVENUES                                 $2,383,198    $2,232,096

COST OF REVENUES                          1,858,299     1,852,494
                                          _________     _________

GROSS PROFIT                                524,899       379,602

SELLING,GENERAL & ADMINISTRATIVE            504,255       334,576
                                          _________     _________

OPERATING INCOME                             20,644        45,026

   INTEREST EXPENSE                               0             0

   OTHER (EXPENSE)/INCOME  NET               (1,275)          279
                                           ________      ________

INCOME BEFORE INCOME TAXES                   19,369        45,305

PROVISION FOR INCOME TAX                         --            --
                                           ________      ________

NET INCOME                                  $19,369       $45,305
                                           ========      ========


NET INCOME PER COMMON SHARE-BASIC            $0.01        $0.03
NET INCOME PER COMMON SHARE-DILUTED          $0.01        $0.03


WEIGHTED AVERAGE NUMBER OF
  SHARES OUTSTANDING:
   BASIC                                  1,362,031     1,362,031
   DILUTED                                1,363,135     1,362,883

SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS

                              4


THE DEWEY ELECTRONICS CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)
                                         THREE-MONTHS ENDED
                                            SEPTEMBER 30,
                                         2008        2007
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME                              $19,369    $45,305
                                       ________    _______
ADJUSTMENTS TO RECONCILE NET INCOME
  TO NET CASH PROVIDED BY/(USED IN)
  OPERATING ACTIVITIES:
    DEPRECIATION                         27,379     27,702

   DECREASE/(INCREASE) IN ACCOUNTS
     RECEIVABLE                         702,459   (143,118)
   (INCREASE)IN INVENTORIES            (189,222)  (223,179)
   DECREASE/(INCREASE) IN CONTRACT
     COSTS & RELATED ESTIMATED PROFITS
     IN EXCESS OF BILLINGS              147,068   (997,653)
   (INCREASE) IN PREPAID EXPENSES AND
    OTHER CURRENT ASSETS                (16,692)    (2,768)
   (DECREASE)/INCREASE IN ACCOUNTS
      PAYABLE                          (188,282)   603,555
    INCREASE IN DEFERRED REVENUE              0    406,800
   INCREASE IN BILLINGS IN EXCESS OF
      COSTS AND ESTIMATED EARNINGS      112,778    105,809
   (DECREASE)/INCREASE IN ACCRUED
      EXPENSES AND OTHER LIABILITIES   (187,705)   105,619
   (DECREASE) IN PENSION LIABILITY      (16,572)   (15,000)
                                       ________    _______
   TOTAL ADJUSTMENTS                   391,211   (132,233)
                                      ________    _______


NET CASH PROVIDED BY/(USED IN)
  OPERATING ACTIVITIES                 410,580    (86,928)
                                      ________    _______


CASH FLOWS FROM INVESTING ACTIVITIES:
  EXPENDITURES FOR PLANT, PROPERTY
    AND EQUIPMENT                      (18,297)      (921)
NET CASH USED IN INVESTING ACTIVITIES  (18,297)      (921)
                                       _______     ______


NET INCREASE/(DECREASE) IN CASH AND
   CASH EQUIVALENTS                    392,283    (87,849)


CASH AND CASH EQUIVALENTS AT
  BEGINNING OF PERIOD                  205,122    432,337
                                       _______    _______


CASH AND CASH EQUIVALENTS AT END
   OF PERIOD                        $  597,405 $  344,488
                                     =========  =========


SUPPLEMENTAL DISCLOSURES OF CASH
  FLOW INFORMATION

      INTEREST RECEIVED               $    67    $    220


SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS

                             5



THE DEWEY ELECTRONICS CORPORATION

NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)

1.  Significant Accounting Policies
-----------------------------------

Basis of Presentation
---------------------
The accompanying unaudited condensed financial statements have been
prepared by The Dewey Electronics Corporation (the "Company") pursuant to
the rules and regulations of the Securities and Exchange Commission (the
"SEC")for interim reporting.  Certain information and disclosures
normally included in notes to financial statements have been condensed or
omitted pursuant to such rules and regulations, but resultant disclosures
are in accordance with accounting principles generally accepted in the
United States of America as they apply to interim reporting.  The
condensed financial statements should be read in conjunction with the
financial statements and the notes thereto in the Company's Annual Report
on Form 10-KSB for the fiscal year ended June 30, 2008 (the "2008 Form
10-KSB").

In the opinion of the Company's management, the accompanying unaudited
condensed financial statements contain all adjustments (consisting of
normal recurring adjustments) necessary to present fairly, in all
material respects, the Company's financial position as of September 30,
2008, and the results of operations and cash flows for the three-months
then ended.  The results of operations and cash flows for the period
ended September 30, 2008 are not necessarily indicative of the results of
operations or cash flows to be expected for any subsequent quarter or the
full fiscal year ending June 30, 2009.

As of September 30, 2008, there have been no material changes to any of
the significant accounting policies described in our 2008 Form 10-KSB.

Revenue Recognition
-------------------

Revenues and estimated earnings under long-term defense contracts
(including research and development contracts, except as described in the
final sentence of this paragraph) are recorded using the percentage-of-
completion method of accounting, measured as the percentage of costs
incurred to estimated total costs of each contract.  For the Company's
indefinite delivery, indefinite quantity contract to provide 2kW
generator sets to the military and for orders from other government
subcontractors for 2kW generators, percentage-of-completion calculations
are based on individual "Delivery Orders" which are periodically received
for specified quantities.  For research and development contracts total
costs incurred are compared to total expected costs for each contract.
The Company currently has one development sub-contract to perform
qualification tests for an EPA compliant engine for use with its 2kW
generator sets on which it does not recognize revenue based on the
percentage-of-completion method; rather, revenue is recorded with the
successful completion of each milestone in accordance with the contract
terms.

The Company uses the percentage-of-completion method to recognize revenue
for its replacement parts business when the dollar amount of the order to
be delivered in a future period or periods is material, and the duration
of the work will span multiple reporting periods.  Revenue and earnings
for all other orders for replacement parts (including orders for
replacement parts for snowmaking equipment, as well as orders for new
snowmaking machines) are recorded when deliveries of product are made and
title and risk of loss have been transferred to the customer and
collection is probable.

                                   6

For those contracts where revenue has been recognized using the
percentage-of-completion method of accounting, provisions for estimated
losses on uncompleted contracts are made in the period in which such
losses are determined.  Changes in job performance, job conditions, and
estimated profitability may result in revisions to costs and income and
are recognized in the period in which the revisions are determined.

Use of Estimates
----------------

The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and reported amounts
of revenues and expenses during the reporting period.  These estimates
include, among others, lower of cost or market estimates for inventories,
realization of deferred tax assets, revenue recognition and certain
accrued expenses.  Actual results could differ from those estimates.

Income Taxes
------------

The Company applies Statement of Financial Accounting Standards ("SFAS")
No. 109, "Accounting for Income Taxes."  Under the asset and liability
method of SFAS No. 109, deferred tax assets and liabilities are
recognized for future tax consequences attributable to differences
between the financial statement carrying amounts of existing assets and
liabilities and their respective tax bases.  The effect on deferred tax
assets and liabilities of a change in tax laws is recognized in the
results of operations in the period the new laws are enacted.  A
valuation allowance is recorded to reduce the carrying amounts of
deferred tax assets unless it is more likely than not that such assets
will be realized.

On July 1, 2007, the Company adopted FASB Interpretation No. 48,
"Accounting for Uncertainty in Income Taxes-an interpretation of FASB
Statement 109" ("FIN 48"). There was no material effect on the Company's
financial statements associated with the adoption of FIN 48. The tax
years 2004 - 2008 remain open to examination by the major taxing
jurisdictions to which we are subject.

2.  Recent Accounting Pronouncements
------------------------------------

In February 2007, the Financial Accounting Standards Board ("FASB"),
issued SFAS No. 159 "The Fair Value Option for Financial Assets and
Financial Liabilities."  SFAS 159 permits entities to choose, at
specified election dates, to measure eligible financial instruments at
fair value and report unrealized gains and losses on items for which the
fair value option has been elected in earnings at each subsequent
reporting date.  SFAS 159 is effective for fiscal years beginning after
November 15, 2007.  The Company does not own any financial instruments
and does not expect this statement to have an effect on the Company's
financial statements.



                                    7


In September 2006, the FASB issued Statement No. 157, "Fair Value
Measurements" (SFAS 157).  SFAS 157 defines fair value, establishes a
framework for measuring fair value in accordance with generally accepted
accounting principles, and expands disclosures about fair value
measurements.  In February 2008, the FASB issued Staff Position No. 157-
1, "Application of FASB Statement No. 157 to FASB Statement No. 13 and
Other Accounting Pronouncements That Address Fair Value Measurements for
Purposes of Lease Classification or Measurement under Statement 13" ("FSP
157-1") and Staff Position No. 157-2, "Effective Date of FASB Statement
No. 157" ("FSP 157-2").  In October 2008, the FASB adopted FASB Staff
Position No. 157-3 "Determining the Fair Value of a Financial Asset When
the Market for That Asset Is Not Active" ("FSP 157-3").  FSP 157-1 amends
SFAS 157 to remove certain leasing transactions from its scope.  FSP
157-2 delays the effective date of SFAS 157 for all non-financial assets
and non-financial liabilities, except for items that are recognized or
disclosed at fair value in the financial statements on a recurring basis
(at least annually), until the beginning of the Company's fiscal year
beginning July 1, 2009.  The measurement and disclosure requirements
related to financial assets and financial liabilities are effective for
the Company beginning in the Company's 2009 fiscal year beginning July 1,
2008.  FSP 157-3 reaffirms that for financial assets fair value is an
estimated exit price, and provides examples of how to estimate fair
values when relevant observable data are not available.  It further
clarifies that in disorderly markets, judgment is required when deciding
to accept or reject market prices as evidence of fair value.  FSP 157-3
is immediately effective, including for prior periods, for which
financial statements have not been issued.  The adoption of Statement
SFAS 157, FSP 157-1, and FSP 157-3 had no impact on the Company's
financial statements.

3.  Inventories
---------------

Inventories consist of:

                       September 30, 2008      June 30, 2008

Finished Goods             $43,599               $56,279
Work In Progress           307,486               217,674
Raw Materials              692,527               580,437
                           _______               _______
Total                   $1,043,612              $854,390
                         =========               =======

4.  Taxes on Income
-------------------

The Company has provided a valuation allowance against its net deferred
tax assets as it believes that it is more likely than not that it will
not realize these tax attributes. The Company has approximately $791,000
and $231,000 of federal and state net deferred tax assets, respectively,
expiring beginning in 2012.  In the three month period ended September
30, 2008 approximately $7,000 and $2,000 of these federal and state net
deferred tax assets, respectively, have been reduced as a result of the
net income for the period.

5.  Earnings Per Share
----------------------

Net income per share has been presented pursuant to SFAS No. 128,
"Earnings per Share".  Basic net income per share is computed by dividing
reported net income available to common shareholders by weighted average
shares outstanding for the period.  Diluted net income per share is
computed by dividing reported net income available to common shareholders
by weighted average shares outstanding for the period, adjusted for the
dilutive effect of common stock equivalents, which consist of stock
options, using the treasury stock method.


                                 8




The tables below set forth the reconciliation of the numerators and
denominators of the basic and diluted net income per common share
computations.  Certain stock options were excluded from the computation
of earnings per share due to their anti-dilutive effect.  For the three-
months ended September 30, 2008 and September 30, 2007, respectively, the
number of shares excluded from the calculation was 16,000 due to the
exercise price of the options exceeding the average share price for the
quarter.



                                  Three-months Ended September 30,

                             2008                          2007
                                     Per                     Per
                  Income    Shares   Share Income   Shares   Share
                                     Amount                  Amount
Basic net
 Incomeper
 common share    $19,369  1,362,031  $.01  $45,305  1,362,031 $.03

Effect of
dilutive
Securities            --      1,104    --      --         852   --
                  _______  ________  ____   ______   ________  ___

Diluted net
income per
common share     $19,369  1,363,135  $.01  $45,305  1,362,883 $.03
                 =======  =========  ====  =======  =========  ===

6.	Reclassification of Prior Year Balances
--------------------------------------------

Certain prior year balances have been reclassified to conform to the
current period financial statement presentation.  This reclassification
has no impact on Reported Earnings, Net Worth, or Cash Flows for prior
fiscal periods.
                                  9





THE DEWEY ELECTRONICS CORPORATION

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

The following discussion should be read in conjunction with the unaudited
condensed financial statements, including the notes thereto, appearing
elsewhere in this Form 10-Q, and with the audited financial statements,
including the notes thereto, appearing in the Company's 2008 Form 10-KSB.
Certain statements in this report may be deemed "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange
Act of 1934.  All statements, other than statements of historical fact
that address activities, events or developments that the Company or
management intends, expects, projects, believes or anticipates will or
may occur in the future are forward-looking statements.  Such statements
are based upon certain assumptions and assessments made by management of
the Company in light of its experience and its perception of historical
trends, current conditions, expected future developments and other
factors it believes to be appropriate.  The forward-looking statements
included in this report are also subject to a number of material risks
and uncertainties, including but not limited to economic, governmental,
competitive and technological factors affecting the Company's operations,
markets, products, services and prices and, specifically, the factors
discussed below under "Financing Activities", and "Company Strategy" and
in Item 1 (Description of Business - Operational Risks) of the Company's
2008 Form 10-KSB.  Such forward-looking statements are not guarantees of
future performance and actual results, developments and business
decisions may differ from those envisaged by such forward-looking
statements.

The Company's operating cycle is long-term and includes various types of
products and varying delivery schedules. Accordingly, results of a
particular period or period-to-period comparison of recorded revenues and
earnings may not be indicative of future operating results.  The
following comparative analysis should be viewed in this context.

Critical Accounting Policies and Estimates
------------------------------------------

The Company's financial statements and accompanying notes are prepared in
accordance with accounting principles generally accepted in the United
States of America.  Preparing financial statements requires us to make
estimates and assumptions that affect the reported amounts of assets,
liabilities, revenues and expenses.  These estimates and assumptions
affect the application of our accounting policies.  Actual results could
differ from these estimates. Critical accounting policies are those that
require application of management's most difficult, subjective or complex
judgments, often as a result of matters that are inherently uncertain and
may change in subsequent periods.  The Company's critical accounting
policies include revenue recognition on contracts and contract estimates,
pensions, impairment of long-lived assets, and valuation of deferred tax
assets and liabilities. For additional discussion of the application of
these and other accounting policies, see Management's Discussion and
Analysis of Financial Condition and Results of Operations - Critical
Accounting Policies and Note 1 of the Notes to the Financial Statements
included in the Company's 2008 Form 10-KSB.


Results of Operations - Revenues
--------------------------------

Revenues and estimated earnings under long-term defense contracts
(including research and development contracts, except as described in the
final sentence of this paragraph) are recorded using the percentage-of-
completion method of accounting, measured as the percentage of costs
incurred to estimated total costs of each contract.  For the Company's
indefinite delivery, indefinite quantity contract to provide 2kW
generator sets to the military and for orders from other government
subcontractors for 2kW generators, percentage-of-completion calculations
are based on individual "Delivery Orders" which are periodically received
for specified quantities.  For research and development contracts total
costs incurred are compared to total expected costs for each contract.
The Company currently has one development sub-contract to perform
qualification tests for an EPA compliant engine for use with its 2kW
generator sets on which it does not recognize revenue based on the
percentage-of-completion method; rather, revenue is recorded with the
successful completion of each milestone in accordance with the contract
terms.

                                   10

The Company uses the percentage-of-completion method to recognize revenue
for its replacement parts business when the dollar amount of the order to
be delivered in a future period or periods is material, and the duration
of the work will span multiple reporting periods.  Revenue and earnings
for all other orders for replacement parts (including orders for
replacement parts for snowmaking equipment, as well as orders for new
snowmaking machines) are recorded when deliveries of product are made and
title and risk of loss have been transferred to the customer and
collection is probable.

For those contracts where revenue has been recognized using the
percentage-of-completion method of accounting, provisions for estimated
losses on uncompleted contracts are made in the period in which such
losses are determined. Changes in job performance, job conditions, and
estimated profitability may result in revisions to costs and income and
are recognized in the period in which the revisions are determined.

Revenues for the first quarter of fiscal year 2009, the three month
period ended September 30, 2008, were $151,102 higher when compared to
same period in 2007.  The higher revenues were due to increased
production of generator sets under the Company's prime contract to
provide 2kW generator sets to the U.S. Army and increased production of
2kW generator sets for delivery to other defense contractors outside the
Company's prime contract. Customer funded research and development
revenues also increased when compared to the same three month period in
2007 while revenues for replacement parts and short-term orders were
lower during this three month period in 2008 then they were in 2007.

For the three months ended September 30, 2008 production efforts to
provide the Armed Forces with diesel operated generator sets provided
approximately 83% of revenues compared to approximately 75% in the first
quarter of fiscal year 2008 (ended September 30, 2007).  The Company's
research and development contracts provided approximately 10% of revenues
in the first quarter of fiscal 2009, and approximately 6% of revenues in
the first quarter of fiscal 2008.  Replacement parts and other short-term
business including snowmaking equipment provided approximately 7% of
revenues in the first quarter of fiscal year 2009 and approximately 19%
of revenues in the same period of fiscal 2008.

In March 2007, the Company was awarded three related research and
development sub-contracts, in the aggregate amount of approximately
$230,400 to research and develop electronic controls for diesel fuel cell
reformers.  Work on these contracts began in the first quarter of fiscal
year 2008 and is expected to extend until the third quarter of fiscal
2009.  No assurances can be given that the Company will receive any
future production orders as a result of these sub-contracts or that the
Company will be awarded any additional research and development contracts
or sub-contracts.

                                     11

In July 2007, the Company received a subcontract to develop an armored 3
kilowatt 28 volt DC auxiliary power unit that can be mounted on the back
of the USMC main battle tank, the Abrams M1A1.  The development contract,
for $646,400, was awarded by the USMC Tank Program Office, in Quantico,
VA, through a sub-contract administered by CACI, Eatontown, NJ, and has
the possibility of a follow-on production contract.  Work on this
contract also began in the first quarter of fiscal 2008 and continued
into the quarter ending September 30, 2008.  No assurance can be made
that the Company will receive any future production orders as a result of
this contract or that the Government will award the Company any
additional development contracts.

In August 2007, the Company received a new contract to provide auxiliary
power systems for the United States Marine Corps (USMC) 'Logistic
Vehicle'.  This contract, awarded by the USMC Systems Command, Quantico,
VA, consists of a base year and three option years, exercisable at the
Government's option.  The Logistics Vehicle Power System (LVPS) is a
diesel-powered 3.5 kilowatt 28 volt DC generator providing power to
equipment that protects against improvised explosive devices.  It is
based on the Company's existing 2 kilowatt military tactical generator.
A delivery order for the LVPS, valued at approximately $2.4 million was
received in August 2007 and completed in December 2007.  In July 2008,
the Company received a second delivery order valued at approximately
$500,000 for additional units to be delivered in January 2009 and work
began to produce these units during the first quarter of fiscal 2009.
While the Company was successful in obtaining these initial orders, no
assurance can be made that the Company will receive any future production
orders as a result of this contract.

In December 2007, the Company announced the award of a $985,976
subcontract from Fibertek, Inc. of Herndon, VA, as part of the U.S.
Government's 2kW Military Tactical Generator (MTG) Product Improvements -
Engine.  This contract covers the efforts to qualify an EPA compliant
diesel engine for use in the 2kW portable Military Tactical Generator
product line.  This engineering and test effort is being conducted at the
Company's Oakland, NJ, facility.  Initial test efforts began during the
third quarter of fiscal year 2008 (ended March 31, 2008) and are expected
to be completed by December 2008.  Although no assurances can be made,
the Company expects that first article testing, if successful, should
result in the incorporation of the EPA compliant engine as a standard
component of the 120 volt AC and 28 volt DC 2kW generator sets currently
manufactured by the Company.

In May 2008, the Company received an award of $475,000 to develop a
prototype 'idle reduction' system consisting of an environmental control
unit and diesel generator under a subcontract from MTC Technologies of
Eatontown, NJ.  The Company is partnering with AMETEK Corporation of El
Cajon, California to develop this system to provide heating and cooling
for US Army "long haul" trucks independent of the vehicle's main engine.
The generator being developed by the Company under this subcontract will
be used to power the environmental control unit while also providing both
AC and DC current for the vehicle.  Delivery of the prototype units to
the customer is scheduled for December 2008.  No assurance can be made
that the Company will receive any future production orders as a result of
this contract or that the Government will award the Company any
additional development contracts.

The Company experiences variable amounts of material receipts from time
to time during the normal course of business.  Material receipts are
dependent upon the receipt of orders, project requirements and vendor
delivery schedules.  As the Company uses the percentage-of-completion
method of accounting to record revenues on certain long-term contracts,
material costs have an impact upon recorded revenues (see Note 1, Revenue
Recognition of the Notes to Financial Statements).

                                      12

The aggregate value of the Company's backlog of sales orders was $6.5
million on September 30, 2008 and $8.1 million on September 30, 2007.  It
is estimated that most of the present backlog will be billed during the
next 12 months and be substantially recognized as fiscal year 2009
revenues.

Gross Profit
------------

The Company earned a gross profit of $524,899 for the three months ended
September 30, 2008 compared to a gross profit of $379,602 for the same
period in 2007.

Gross margin is the measure of gross profit as a percentage of revenues.
It is affected by a variety of factors including, among other items,
product mix, product pricing, and product costs.  The Company had a gross
margin of 22% for the first quarter of fiscal year 2009, ended September
30, 2008, compared to a gross margin of 17% for the first quarter of
fiscal 2008.

The improved gross margin for the first quarter of fiscal year 2009 is
the result of several factors. Principal among these are the increase in
volume and change in product mix attributable to the Company's customer
funded research and development efforts and the increase in production of
2kW generators for delivery to other defense contractors outside the
Company's prime contract with the U.S. Army.  The effects of these
changes are twofold.  First the increase in customer funded research and
development reduces the proportion of fixed overhead expense absorbed by
products with contractually fixed selling prices thereby increasing the
margins generated by these products. Second, because the generators sold
to other defense contractors are not being sold under long term, fixed
price contracts the selling price of these generators takes into account
current costs of production.  Partly offsetting the gains in gross margin
was an increase in costs related to metals, transportation and foreign
sourced components for the 2kw generator set product line.  The Company's
10-year indefinite delivery, indefinite quantity prime contract for
generator sets with the U.S. Army, awarded in 2001 allows for a small
annual increase in selling price.  Gross profit has been reduced as a
result of costs increasing faster than the selling price.  The Company is
in communication with the Government and is continuing to pursue a pricing
modification under the contract.  This is a labor intensive process and no
assurances can be made that the Government will agree to a modification, or
that such a modification would be equitable to the Company.

Selling, General and Administrative Expenses
-------------------------------------------

Selling, General and Administrative Expenses for the first three months
of fiscal 2009 were $504,255 or 21% of revenue compared to $334,576 or
15% of revenue in the first three months of fiscal 2008.  The most
significant increases in expense were for Company sponsored new product
development efforts, business development expense, and increased legal,
professional and recruiting expenses.

Interest Expense
----------------

The Company had no interest expense in the three month periods ended
September 30, 2008 and 2007 respectively.

Other Expense/Income - Net
--------------------------

Amounts reported as other income or expense represent the net effect of
interest income and miscellaneous items such as the sale of scrap, bank
transaction fees and other like items.

                                     13


Other expense of $1,275 for the three months ended September 30, 2008 was
comprised of bank fees of $1,395 and miscellaneous income of $120.

Other income of $279 for the three months ended September 30, 2007 was
comprised of interest income of $220, and miscellaneous income of $59.

Net Income before income taxes
------------------------------

Net income before income taxes for the three months ended September 2008
and September 30, 2007 was $19,369 and $45,305 respectively.

Income Taxes
------------

Deferred tax assets and liabilities are recognized for the expected tax
consequences of temporary differences between the tax bases of assets and
liabilities and their financial statement reported amounts and for tax
loss and credit carry-forwards.

A valuation allowance is provided against deferred tax assets when it is
determined to be more likely than not that these amounts will not be
realized.

The Company has provided a valuation allowance against its net deferred
tax assets as it believes that it is more likely than not that it will
not realize these tax attributes. The Company has approximately $791,000
and $231,000 of federal and state net deferred tax assets, respectively,
expiring beginning in 2012.  Of these amounts, reductions of
approximately $7,000 and $2,000 of federal and state net deferred tax
assets, respectively, are the result of net income for the three-month
period ending September 30, 2008.

Liquidity and Capital Resources
-------------------------------

Historically, the Company's capital expenditures, debt servicing
requirements and working capital needs have been financed by cash flow
from operations, progress payments on various Government contracts (based
on cost incurred) and a line of credit of $500,000.  This line of credit
expired on February 28, 2007.  Starting in fiscal year 2008, the Company
has changed the way it progress bills on new contracts.  The Company now
attempts to negotiate payment based on achievement of milestones rather
than relying on demonstration of incurred costs.  This approach is
expected to result in the Company receiving payment at or before the time
it must pay its vendors.  The four new contracts described under
"Revenues" above that were received in fiscal year 2008 have been
structured this way and the Company intends to continue this approach
where possible.

As of September 30, 2008 the Company had no material capital expenditure
commitments.  Management believes that the Company's current cash
combined with progress and milestone payments as well as billings at the
time of delivery of products will be sufficient to support short-term
liquidity requirements, working capital needs and capital expenditures at
their current or expected levels.

At September 30, 2008, the Company's working capital was $2,231,872
compared to $2,146,540 at September 30, 2007.

The ratio of current assets to current liabilities was 2.78 to 1 at
September 30, 2008 and 2.12 to 1 at September 30, 2007.

The following table is a summary of the Statements of Cash Flows in the
Company's Financial Statements:

                                      14
                             Three Months ended September 30,
                                   2008               2007

Net Cash Provided by(used in)

  Operating activities            $  410,580      $  (86,928)
  Investing activities               (18,297)           (921)
  Financing activities                    --              --


Operating Activities:
---------------------

Adjustments to reconcile net income to net cash used in operations are
presented in the Statements of Cash Flows in the Company's Financial
Statements.

Net cash provided by operating activities in the three-month period ended
September 30, 2008 was comprised primarily of net income before
depreciation and amortization, an increase in billings in excess of costs
and estimated earnings, and decreases in accounts receivable, and
contract costs and estimated related profits in excess of applicable
billings partly offset by an increase in inventories, and decreases in
accounts payable and accrued expenses.

Net cash used in operating activities for the three-month period ended
September 30, 2007 was comprised primarily of net income before
depreciation and amortization, increases in accounts receivable,
inventories, contract costs and related profits in excess of applicable
billings, which were partly offset by increases in accounts payable,
deferred revenue, billings in excess of costs and estimated earnings and
accrued expenses.

The Company expenses its research and development costs as incurred.
These costs consist primarily of salaries and material costs.  For the
three month period ended September 30, 2008 and September 30, 2007, the
Company expensed $14,814 and $39,499 respectively, of research and
development costs.  Research and development projects performed under
contract for customers are billed to the customer and are recorded as
contract costs as they are incurred.

Investing Activities:
---------------------

During the first three months of fiscal 2009, net cash of $18,297 was
used in investing activities.  The entire amount was used for capital
expenditures, principally for test equipment.

During the first three months of fiscal 2008, net cash of $921 was used
in investing activities all of which was used for capital equipment.

Financing Activities:
-------------------

The Company did not use any cash in financing activities during the three
month periods ended September 30, 2008 and 2007 respectively.

The Company currently has no debt but is endeavoring to obtain a
replacement credit facility for a line of credit that expired in February
2007. The Company does not regard this credit facility as vital to its
continued operations.

The Company owns approximately 90 acres of land and the building, which
it occupies in Bergen County, New Jersey, adjacent to an interchange of
Interstate Route 287.  The Company is continuing to actively pursue
possible methods of monetizing 68 undeveloped and unused acres of this
property, by its sale and/or development.  This endeavor has become more
complex with the implications of New Jersey's "Highlands Water Protection
and Planning Act" ("the Act").

                                     15

The Act identifies approximately 400,000 acres of New Jersey as The
Highlands Preservation Area.  Pursuant to the statute, this area has the
most onerous restrictions on future development.  The Company's property
is in this area, and further development would not be permitted without a
waiver or other relief from the State.  The Company continues to believe
that there are strong reasons why its property should not be subject to
the severe restrictions of the preservation area, and is attempting to
affect a solution.

However, since the Act was passed in June of 2004, the State has
repeatedly delayed promulgation of final regulations and a master plan.
Originally expected in 2005, final regulations and a master plan were
recently approved by the Governor on September 5, 2008.  At the same time
the Governor issued Executive Order 114 further defining the framework by
which the Highlands Council, other State agencies, and both county and
municipal governments are to work together.  The Company believes that a
regulatory environment is now developing within which monetization of the
land may be possible.  In light of these recent events, the Company is
actively assessing its options.  However, no assurances can be given that
the Company's efforts will be successful, that a satisfactory valuation
will be achieved, or that resolution will be timely.

In May 2008, the Company entered into a contract to sell a small parcel
of land, approximately 7 acres, for $205,000.  The land is physically
separated from the main parcel of the Company's property by an interstate
highway and is contained within the Highlands Preservation Area.  Among
other things, the sale of the land is subject to approval for development
by the Highlands Commission and various state and local government
agencies.  Accordingly the Company can make no assurance that the sale
will be successfully consummated or, if consummated, the timing thereof.

Recent Pronouncements
---------------------

In February 2007, the Financial Accounting Standards Board ("FASB")
issued Statement of Financial Accounting Standard ("SFAS") No. 159, "The
Fair Value Option for Financial Assets and Financial Liabilities."  SFAS
159 permits entities to choose, at specified election dates, to measure
eligible financial instruments at fair value and report unrealized gains
and losses on items for which the fair value option has been elected in
earnings at each subsequent reporting date.  SFAS 159 is effective for
fiscal years beginning after November 15, 2007.  The Company does not own
any financial instruments and does not expect this statement to have an
effect on the Company's financial statements.

In September 2006, the FASB issued Statement No. 157, "Fair Value
Measurements" (SFAS 157).  SFAS 157 defines fair value, establishes a
framework for measuring fair value in accordance with generally accepted
accounting principles, and expands disclosures about fair value
measurements.  In February 2008, the FASB issued Staff Position No. 157-
1, "Application of FASB Statement No. 157 to FASB Statement No. 13 and
Other Accounting Pronouncements That Address Fair Value Measurements for
Purposes of Lease Classification or Measurement under Statement 13" ("FSP
157-1") and Staff Position No. 157-2, "Effective Date of FASB Statement
No. 157" ("FSP 157-2").  In October 2008, the FASB adopted FASB Staff
Position No. 157-3 "Determining the Fair Value of a Financial Asset When
the Market for That Asset Is Not Active" ("FSP 157-3").  FSP 157-1 amends
SFAS 157 to remove certain leasing transactions from its scope.  FSP
157-2 delays the effective date of SFAS 157 for all non-financial assets
and non-financial liabilities, except for items that are recognized or
disclosed at fair value in the financial statements on a recurring basis
(at least annually), until the beginning of the Company's fiscal year
beginning July 1, 2009.  The measurement and disclosure requirements
related to financial assets and financial liabilities are effective for
the Company beginning in the Company's 2009 fiscal year beginning July 1,
2008.  FSP 157-3 reaffirms that for financial assets fair value is an
estimated exit price, and provides examples of how to estimate fair
values when relevant observable data are not available.  It further
clarifies that in disorderly markets, judgment is required when deciding
to accept or reject market prices as evidence of fair value.  FSP 157-3
is immediately effective, including for prior periods, for which
financial statements have not been issued. The adoption of Statement SFAS
157, FSP 157-1, and FSP 157-3 had no impact on the Company's financial
statements.

                                     16


Company Strategy
---------------

The Company has many years of experience in contracting with the
Department of Defense and has been successful in obtaining many contracts
to provide a wide array of products and services.  Management believes
that this experience is a significant positive competitive factor.
Management is continuing to explore other areas of business with the
Department of Defense, which are capable of providing stability and
growth.

The Company is focusing its efforts within the market for military
compact diesel power generation on select product categories which
management believes represent the best chances of successfully growing
the Company's business.  Although no assurances can be made that such a
strategy will be successful, management believes that long-term growth
can best be achieved by: 1) growing the Company's market share in areas
where the Company already has a strong presence, 2) expanding into
related markets with existing products and capabilities, and 3) further
taking advantage of the Company's strengths by expanding into related
product categories.

The Company faces competition in many areas and from companies of various
sizes, capabilities and resources.  Competitive factors include product
quality, technology, product availability, price, and customer service.
Management believes that the reputation of the Company in these areas
provides a significant positive competitive factor.  As part of its
overall business strategy management is continuing to reinforce customer
awareness of the Company's current and past performance as a Department
of Defense supplier, its product quality and reliability, and its
historically strong customer relationships.

In response to the U.S. Army's change in priorities away from long-term
product improvements regarding the 2kW Generator Program in 2007,
management reevaluated its approach to the second and third strategic
objectives described above.  Rather than continuing to develop new longer
term internal technologies, the Company is now attempting to capitalize
on its previous investments in technology to obtain business in related
military power markets and to expand into related military product
categories.

Two new contracts for the U.S. Marine Corps providing generators as
auxiliary power units for vehicles are examples of the second strategic
objective, expanding into related power markets.  These contracts are for
the Logistics Vehicle Power Supply "LVPS" and the External Auxiliary
Power Unit "EAPU" for the USMC Abrams M1-A1 tank (described under
"Revenues" above); both of them are utilizing the Company's core
expertise in compact and highly reliable diesel engine power generation.
The most recent contract to develop a prototype 'idle reduction' system
consisting of an environmental control unit and diesel generator builds
on the Company's recent accomplishments with vehicle mounted auxiliary
power units and management believes it will allow the Company to further
expand into related power applications while increasing its technology
base.  In furtherance of the third strategic objective, expanding into
related military product categories, the Company is utilizing its
experience in military-grade portable power systems under three related
customer funded research and development sub-contracts where the Company
will design and prototype electronic controls for diesel fuel cell
systems (See "Revenues" above).

                                      17























In the near term, continued growth in profitability and broadening the
line of product offerings are the Company's primary objectives.  The new
development contracts, and the customer-funded research and development
sub-contracts, described above contribute to this goal.  At present the
Company is not actively pursuing opportunities for piece and component
manufacturing work and other short-term business that would utilize
existing factory capacities and capabilities due to the lack of excess
capacity in the Company's factory.  However the Company may consider
pursuing such opportunities in the future.  The Company is continuing to
pursue possible sub-contracting relationships with other companies and
defense contractors that leverage the Company's current expertise and
technology in generators and auxiliary power units.



ITEM 4T.	Controls and Procedures

The Company carried out, under the supervision and with the participation
of the Company's management, including the Chief Executive Officer and
Treasurer, an evaluation of the effectiveness of the design and operation
of its disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) under the Securities Exchange Act of 1934) as of the end of
the fiscal quarter covered by this report.  Disclosure controls and
procedures include, without limitation, controls and procedures designed
to ensure that information required to be disclosed by the Company in the
reports that it files or submits under the Securities Exchange Act is
accumulated and communicated to management, including its Chief Executive
Officer and Treasurer, as appropriate to allow timely decisions regarding
required disclosure.  Based on this evaluation, the Chief Executive
Officer and Treasurer concluded that, as of September 30, 2008, the
design and operation of the Company's disclosure controls and procedures
were effective.
Nonetheless, a control system, no matter how well designed and operated,
cannot provide absolute assurance that the objectives of the control
system are met, and no evaluation of controls can provide absolute
assurance that all control issues have been detected.
During the fiscal quarter covered by this report, there have been no
changes in the Company's internal control over financial reporting that
have materially affected, or are reasonably likely to materially affect,
the Company's internal control over financial reporting.



                                     18








PART II - OTHER INFORMATION


Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds

           None


Item 4.   Submission of Matters to a Vote of Security Holders

          None


Item 6.  Exhibits
------------------------------------------------------------------

See the accompanying Index to Exhibits to this quarterly report on Form
10-Q.



SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of l934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                             THE DEWEY ELECTRONICS CORPORATION




                             /s/ John H.D. Dewey
Date:  November 14, 2008     John H.D. Dewey
                             President and Chief Executive Officer




                             /s/ Stephen P. Krill
Date:  November 14, 2008     Stephen P. Krill
Treasurer

















THE DEWEY ELECTRONICS CORPORATION


INDEX TO EXHIBITS




The following exhibits are included with this report.  For convenience of
reference, exhibits are listed according to the numbers assigned in the
Exhibit table to Regulation S-K.



Number





31.1 Certification of Chief Executive Officer Pursuant to Section
302 of the Sarbanes-Oxley Act of 2002

31.2 Certification of Treasurer Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002


32.1 Certification of Chief Executive Officer pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002

32.2 Certification of Treasurer pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the Sarbanes-
Oxley Act of 2002