U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                  Form 1O-QSB

(Mark One)

      |_|   QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES
            EXCHANGE ACT OF 1934

            For the quarterly period ended January 1, 2000

      |_|   TRANSITION REPORT UNDER SECTION 13 or 15(d) OF THE EXCHANGE ACT
            For the transition period from _______________ to ________________

                          Commission file number 0-122

                      Eico Electronic Instrument Co., Inc.
                    ----------------------------------------
        (Exact name of small business issuer as specified in its charter)

            New York                                      11-1524626
          -----------                                    -------------
  (State or other jurisdiction                 (IRS Employer Identification No.)
of incorporation or organization)

                 853 Broadway, Suite 2011, New York, N.Y. 10003
                ------------------------------------------------
                    (Address of principal executive offices)


                                 (646) 654-1464
                               ------------------
                           (Issuer's telephone number)

             -------------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such report(s), and (2) has been
subject to such filing requirements for the past 90 days. Yes |X| No |_|

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                  PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes |_| No |_|

                      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: February 4, 2000 capital stock - $1
par value - 598,307 shares outstanding.
<PAGE>

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                         QUARTERLY REPORT ON FORM 10-QSB

                     FOR THE QUARTER ENDING JANUARY 1, 2000

                                    - INDEX-

Part I- Financial Information:

      Item 1 - Financial Statements

      Balance sheet - January 1, 2000 (unaudited)

      Statement of operations - thirteen weeks ended January 1, 2000 and
      January 2, 1999 (unaudited)

      Statement of cash flows - thirteen weeks ended January 1, 2000 and
      January 2, 1999 (unaudited)

      Notes to Form l0-QSB (unaudited)

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

      Signature Page
<PAGE>

Item 1. Financial Statements

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                                  BALANCE SHEET
                              AS AT JANUARY 1, 2000
                                   (UNAUDITED)

                                     ASSETS
Cash                                                                $  123,809
Accrued interest receivable                                             11,006
Investment in U.S. Treasury bills (at
   amortized cost, which approximates market)                        3,793,565
                                                                    ----------
            TOTAL                                                    3,928,380
                                                                    ==========

                                   LIABILITIES
Accrued wages, taxes and other expenses                             $   41,092
Income taxes payable                                                    73,984
Liquidating distribution payable                                     3,111,196
                                                                    ----------
            Total liabilities                                        3,226,272
                                                                    ----------

                              STOCKHOLDERS' EQUITY

Capital stock - $1 par value - authorized 1,000,000 shares;
    issued 608,293 shares
   (including treasury shares)                                         608,293
Additional paid-in capital                                             104,932
Retained earnings                                                       16,129
                                                                    ----------
            Tota1                                                      729,354

Less cost of 9,986 shares of capital
    stock in treasury                                                   27,246
                                                                    ----------
            Total stockholders' equity                                 702,108
                                                                    ----------
            TOTAL                                                   $3,928,380
                                                                    ==========

                   The attached notes are made a part hereof.
<PAGE>

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                             STATEMENT OF OPERATIONS
                                 (NOTES A AND B)
                                   (UNAUDITED)

                                                          Thirteen Weeks Ended
                                                        ------------------------
                                                        January 1,    January 2,
                                                          2000          1999
                                                        --------      --------

Income:
    Interest on mortgage                                              $ 29,822
    Interest on investments                             $ 44,690        40,252
                                                        --------      --------
               Tota1                                      44,690        70,074
General and corporate expenses                            23,561        44,913
                                                        --------      --------
Earnings before income taxes                              21,129        25,161
Income taxes                                               5,000         7,000
                                                        --------      --------
NET EARNINGS                                            $ 16,129      $ 18,161
                                                        --------      --------
   Net earnings per share                               $    .03      $    .03
                                                        --------      --------

    Number of shares used in computing
       earnings per share                                598,307       598,307
                                                        ========      ========
    Liquidating distributions per share                     5.20          None
                                                        ========      ========

                   The attached notes are made a part hereof.

           Management's discussion and analysis of financial condition
                and results of operations is included in item 2.

<PAGE>

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                             STATEMENT OF CASH FLOWS
                                   (UNAUDITED)

                                                        Thirteen Weeks Ended
                                                    ---------------------------
                                                     January 1,      January 2,
                                                        2000            1999
                                                    -----------     -----------

Cash flows from operating activities:
    Cash paid to suppliers and employees            $   (20,555)    $   (73,477)
    Interest received                                    53,982          64,938
    Income taxes paid                                    (6,054)     (1,351,821)
    Late fee penalty collected                                         155, 517
                                                    -----------     -----------

             Net cash provided by (used in)
               operating activities                      27,373      (1,204,893)
                                                    -----------     -----------

Cash flows from investing activities:
    Proceeds from sale of property -
      collection of mortgage principal                                3,974,124
    Proceeds from redemptions of U.S.
      Treasury obligations                            3,752,507       2,333,725
    Investments in U.S. Treasury
      obligations                                    (3,793,565)     (4,486,725)
    Investment in U.S. Treasury
     money market funds                                                (663,704)
                                                    -----------     -----------

             Net cash provided by (used in)
               investing activities                     (41,058)      1,157,420
                                                    -----------     -----------
NET (DECREASE) IN CASH                                  (13,685)        (47,473)
Cash - beginning of period                              137,494         139,234
                                                    -----------     -----------
CASH - END OF PERIOD                                $   123,809     $    91,761
                                                    ===========     ===========

(Continued)
<PAGE>

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                             STATEMENT OF CASH FLOWS
                                   (UNAUDITED)
                                   - Sheet 2 -

                                                        Thirteen Weeks Ended
                                                    ---------------------------
                                                     January 1,      January 2,
                                                        2000            1999
                                                    -----------     -----------
Reconciliation of net earnings to net
cash provided by (used in) operating
activities:
   Net earnings                                     $    16,129     $    18,161

    Adjustments to reconcile net earnings to net
    cash provided by (used in)
    operating activities:

       Decrease (increase) in:
        Mortgage interest and penalty
            receivable                                                  155,517
        Accrued interest receivable                       9,292          (5,136)
        Other assets                                                        800

       Increase (decrease) in:
        Accrued taxes and other expenses                  3,006         (29,364)
        Income taxes payable                             (1,054)     (1,344,871)
                                                    -----------     -----------

               Net cash provided by (used in)
                 operating activities               $    27,373     $(1,204,893)
                                                    ===========     ===========

                   The attached notes are made a part hereof.
<PAGE>

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                              NOTES TO FORM 1O-QSB
                                   (UNAUDITED)

(Note A):

      The financial information contained in this Form l0-QSB represents
condensed financial data and, therefore, does not include all footnote
disclosures required to be included in financial statements prepared in
conformity with generally accepted accounting principles. Such footnote
information was included in the Company's annual Form l0-KSB for the year ended
October 2, 1999; the condensed financial data included herein should be read in
conjunction with the annual report.

(Note B):

      (1) In management's opinion, all necessary adjustments have been made in
order to present fairly the results for the interim periods.

      (2) The results of operations for the thirteen weeks ended January 1, 2000
are not necessarily indicative of the results of operations for the year ending
September 30, 2000.

(Note C):

      Earnings per share is based on the average number of shares outstanding
during each period, exclusive of treasury shares.

(Note D):

      Income taxes on the statement of operations comprises:

                                                         Thirteen Weeks Ended
                                                     ---------------------------
                                                     January 1,       January 2,
                                                       2000             1999
                                                      ------           ------

        Currently payable:
            Federal                                   $3,000           $3,000
            State and local                            2,000            4,000
                                                      ------           ------
               Total                                  $5,000           $7,000
                                                      ------           ------

      Federal income taxes are computed at statutory rates, including the effect
of surtax exemptions.

(Continued)

<PAGE>

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                              NOTES TO FORM l0-QSB
                                   (UNAUDITED)
                                   - Sheet 2 -

(Note E):

      Cash Equivalents - For purposes of the statement of changes in funds, the
Company considers all liquid short-term investments to be investing activities
and not cash equivalents.

(Note F):

      Stockholders' equity comprises the following:

<TABLE>
<CAPTION>
                            Balance                                           Balance
                          October 2,     Liquidating            Net          January 1,
                             1999        Distributions       Earnings           2000
                             ----        -------------     -----------      -----------
<S>                      <C>              <C>              <C>              <C>
Capital stock            $   608,293                                        $   608,293
Additional paid-in
   capital                   617,213      $  (512,281)                          104,932
Retained earnings          2,598,915       (2,598,915)     $    16,129           16,129
Treasury stock               (27,246)                                           (27,246)
                         -----------      -----------      -----------      -----------
      Tota1              $ 3,797,175      $ 3,111,196      $    16,129      $   702,108
                         ===========      ===========      ===========      ===========
</TABLE>

      On May 28, 1999, the shareholders approved a plan to liquidate the
Company. In furtherance of such plan of liquidation, on December 1, 1999, the
Company's Board of Directors authorized the declaration of a partial liquidating
distribution of $5.20 per share (approximately $3,111,000) payable on or about
January 12, 2000 to shareholders of record of the Company at the close of
business on December 20, 1999.

      The excess of the liquidating distribution over the retained earnings at
October 2, 1999 was charged to additional paid-in capital.
<PAGE>

Item 2

                      EICO ELECTRONIC INSTRUMENT CO., INC.

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

      Interest on mortgage in the prior quarter was included up to the final
mortgage collection date in October 1998.

      Interest on investments increased to $44,690 in the current quarter from
$40,252 in the prior year quarter as a result of higher investment levels.

      General and corporate expenses declined to $23,561 in the current quarter
from $44,913 in the prior year quarter primarily as a result of decreases in
compensation, occupancy and general corporate costs.

      At January 1, 2000, the Company has cash and liquid assets of $3,928,380.

      On May 28, 1999, the shareholders approved a plan to liquidate the
Company. In furtherance of such plan of liquidation, on December 1, 1999, the
Company's Board of Directors authorized the declaration of a partial liquidating
distribution of $5.20 per share (approximately $3,111,000) payable on or about
January 12, 2000 to shareholders of record of the Company at the close of
business on December 20, 1999. The Company will retain liquid assets in an
amount deemed reasonable by its Board of Directors for purposes of settling the
affairs of the Company, including the payment of any contingent claims, whether
or not previously asserted against the Company. It is expected that the Company
will distribute all remaining assets of the Company prior to December 31, 2002.
<PAGE>

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                        EICO ELECTRONIC INSTRUMENT CO., INC.
                                        (Registrant)


February 4, 2000                        By /s/ Linda Ashley
                                          --------------------------------------
                                          Linda Ashley
                                          Principal Financial Officer


February 4, 2000                        By /s/ Gordon Katz
                                          --------------------------------------
                                          Gordon Katz
                                          Secretary