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                          UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                                
                                
                           FORM 10-QSB
                                
                                
     Quarterly Report under Section 13 or 15(d) of the Securities
     Exchange Act of 1934
     For the quarterly period ended December 31, 1997

     Transition Report under Section 13 or 15(d) of the
     Securities Exchange Act of 1934
     For the transition period from          to

                 Commission file number  0-16152
                                
                        Holometrix, Inc.
(Exact Name of Small Business Issuer as Specified in Its Charter)
                                
                                
           Delaware                            04-2891557
     (State or Other Jurisdiction of          (I.R.S. Employer
       Incorporation   or  Organization)           Identification
Number)

      25 Wiggins Avenue, Bedford, Massachusetts  01730-2323
            (Address of Principal Executive Offices)

                                
                         (781) 275-3300
         (Issuers Telephone Number, Including Area Code)
                                



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 reports), and (2) has been subject to  such
filing requirements for the past 90 days.

Yes               No

As  of December 31, 1997, 23,861,878 shares of Common Stock  were
outstanding.

Transitional Small Business Disclosure Format:
Yes      No

                           FORM 10-QSB
                                
                        QUARTERLY REPORT
                                
                        TABLE OF CONTENTS
                                
                                

Facing Page . . . . . . . . . . . . . . . . . . . . . . ..................1

Table of Contents . . . . . . . . . . . . . . . . . ......  .  ...........2


PART I.     FINANCIAL INFORMATION (*)

  Item 1.    Condensed Consolidated Financial Statements
           Balance Sheets ...... . . . . . . . . . . . . . .. ............3
           Statements of Loss . . . . . . . . . . . . . . ................5
           Statements of Cash Flows. . . . . . . . . . .................  6
           Notes to Condensed Consolidated Financial Statements... .....  7

   Item 2.   Management's Discussion and Analysis or Plan of Operations.. 8


PART II.  OTHER INFORMATION

   Item 1.        Legal Proceedings . . . . . . . . . . . . . . .. . . . 11

   Item 2.        Changes in Securities . . . . . . . . . . . . ........ 11

   Item 3.        Defaults upon Senior Securities . . . . . . . .. ..... 11

   Item 4.         Submission of Matters to a Vote of Security holders.. 11

   Item 5.        Other Information . . . . . . . . . . . . . . . . .... 11

   Item 6.        Exhibits and Reports on Form 8-K . . . . . . ......... 11

SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12


(*)  The  financial information at September 30,  1997  has  been
  taken from the audited financial statements at that date.   All
  other financial statements are unaudited.
PART I.                   FINANCIAL INFORMATION

Item 1.                    FINANCIAL STATEMENTS

                 HOLOMETRIX, INC. AND SUBSIDIARY
              CONDENSED CONSOLIDATED BALANCE SHEETS
                             ASSETS
                           (Unaudited)
                                
                                 December 31,   September 30,
                                   1997            1997
                                                    (*)
CURRENT ASSETS:

Cash and cash equivalents          $201,156      $ 184,423
Accounts receivable, less allowance
  for doubtful accounts of $35,000 713,000         929,480
Inventories                        823,431         845,256
Other current assets                49,381          50,958

     TOTAL CURRENT ASSETS        1,786,968       2,010,117


EQUIPMENT AND FIXTURES - net       381,502         394,993

OTHER ASSETS - net                 298,083         305,395

     TOTAL ASSETS               $2,466,553      $2,710,505


    See notes to condensed consolidated financial statements.
(*)Balance sheet at September 30, 1997 has been taken from the
audited financial statements at that date.  All other financial
statements are unaudited.
                 HOLOMETRIX, INC. AND SUBSIDIARY
        CONDENSED CONSOLIDATED BALANCE SHEETS - Continued
              LIABILITIES AND STOCKHOLDERS' EQUITY
                           (Unaudited)
                                   December 31,   September 30,
                                      1997           1997
                                                     (*)
CURRENT LIABILITIES:
 Notes payable - stockholders$        72,015      $     72,015
 Accounts payable                    995,519         1,266,795
 Accrued payroll and related expenses 32,875           107,850
 Accrued other expenses               88,803           158,716
 Due to stockholder                  299,707            51,576
   Current maturities of
        long-term obligations         68,967            93,967

TOTAL CURRENT LIABILITIES          1,557,886         1,750,919

LONG-TERM DEBT,
 Notes payable-stockholders,
      less current maturities        192,039           210,043
 Long term obligations,
          less current maturities     13,344            14,631

TOTAL LIABILITIES                  1,763,269         1,975,593

MINORITY INTEREST IN CONSOLIDATED
SUBSIDIARY                           120,963           103,536

STOCKHOLDERS' EQUITY:
 Common stock, $.01 par value,
    30,000,000 shares  authorized;
    issued 28,098,157                280,982           280,982
            outstanding 23,861,878
 Additional paid-in capital        2,544,409         2,544,409
 Accumulated deficit               2,139,070         2,090,015
                                     686,321           735,376
Less: Treasury stock (at cost)       104,000           104,000


TOTAL STOCKHOLDERS'
  EQUITY                             582,321           631,376

  TOTAL LIABILITIES AND STOCKHOLDERS'
   EQUITY                         $2,466,553        $2,710,505

    See notes to condensed consolidated financial statements.
(*)Balance sheet at September 30, 1997 has been taken from the
   audited financial statements at that date.  All other financial
   statements are unaudited.
                 HOLOMETRIX, INC. AND SUBSIDIARY
            CONDENSED CONSOLIDATED STATEMENTS OF LOSS
                                
                           (Unaudited)
                                
                               Three-Month Period Ended December
31,
                                  1997             1996

NET REVENUES                   $1,118,882       $1,082,622

COST OF SALES                     560,256          568,539

GROSS PROFIT                      558,626          514,083

SELLING, GENERAL AND
 ADMINISTRATIVE EXPENSES          500,346          463,272

RESEARCH AND DEVELOPMENT           79,104           74,965

TOTAL OPERATING EXPENSE           579,450          538,237
`
LOSS FROM OPERATIONS             (20,824)         (24,154)

INTEREST EXPENSE - net           (10,804)          (6,237)
LOSS BEFORE MINORITY INTEREST    (31,628)         (30,391)

MINORITY INTEREST IN NET INCOME OF
CONSOLIDATED  SUBSIDIARY         (17,427)          (3,611)

NET LOSS                       ( $49,055)       ( $34,002)


NET LOSS PER COMMON SHARE:

BASIC                             ($0.00)          ($0.00)
                                                          
ASSUMING DILUTION                 ($0.00)          ($0.00)







    See notes to condensed consolidated financial statements.
                 HOLOMETRIX, INC. AND SUBSIDIARY
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                                
                           (Unaudited)

                        Three-Month Period Ended December 31,
                                      1997             1996

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                          ($49,055)        ($34,002)
Adjustments to reconcile net loss to net
cash provided by (used for) operating activities:
 Depreciation and amortization      35,097           36,430
 Minority interest                  17,427            3,611
 Changes in operating assets and liabilities:
  Accounts receivable              216,480          130,483
  Inventories                       21,825          (53,698)
  Other current assets               1,577           14,621
  Accounts payable and
       accrued expenses           (416,164)         (69,798)
   Net cash provided by (used for)
       operating activities       (172,813)          27,647

CASH FLOWS FROM INVESTING ACTIVITIES:
 Equipment and fixtures additions  (14,294)          (8,487)
   Net cash used for
            investing activities   (14,294)          (8,487)

CASH FLOWS FROM FINANCING ACTIVITIES:
 Decrease in notes payable         (25,000)         (20,000)
 Due to stockholders, net          230,127          (68,495)
 Subscription receivable payments    -               10,000
   Borrowings  under notes 
        payable-line  of   credit    -               75,000
 Decrease in long-term obligations  (1,287)         (26,204)
    Net  cash provided by (used for)
          financing activities     203,840          (29,699)

Net  increase  (decrease) 
     in cash and cash  equivalents  16,733          (10,539)

Cash and  cash  equivalents,
      beginning of  period         184,423           27,495

Cash and cash equivalents,
      end of period              $ 201,156        $  16,956

                                
    See notes to condensed consolidated financial statements.
                 HOLOMETRIX, INC. AND SUBSIDIARY
                                
      NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                
                           (Unaudited)
                                
Note A - Basis of Presentation
    The  accompanying unaudited consolidated financial statements
have   been  prepared  in  accordance  with  generally   accepted
accounting principles for interim financial information and  with
the  instructions  to  Form  10-QSB.  Accordingly,  they  do  not
include  all  information  and footnotes  required  by  generally
accepted  accounting principles for complete financial  statement
presentation.   For further information refer  to  the  financial
statements  and  notes thereto included in the  Company's  Annual
Report on Form 10-KSB for the year ended September 30, 1997.
    The results of operations for the three month period reported
are  not necessarily indicative of those that may be expected for
the  full  year.   The  accompanying  financial  information   is
unaudited; however, in the opinion of management, all adjustments
(consisting solely of normal recurring adjustments) necessary  to
a  fair presentation of the operating results of the period  have
been included.

Note B - Net Loss Per Share
    In  the  first  quarter of fiscal 1998, the  Company  adopted
Statement of Financial Accounting Standards No. 128 ("SFAS 128"),
"Earnings Per Share".  SFAS 128 requires the presentation of both
basic  and diluted earnings per share and replaces the previously
required  standards  for  computing and presenting  earnings  per
share.   Net  loss  per share amounts for all periods  have  been
presented  and  where  appropriate restated  to  conform  to  the
requirements  of SFAS 128.  The following is a reconciliation  of
the denominator (number of shares) used in the computation of net
loss  per share.  The numerator (net income) is the same for  the
basic and diluted computations.
                                               Three Month Period
                                               Ended December 31,
                                      1997                   1996

Basic shares                    23,861,878             22,296,878
Effect  of  dilutive                    --                     --
securities
Dilutive shares                 23,861,878             22,296,878

The following table summarizes securities that were outstanding
as of December 31, 1997 and 1996, but not included in the
calculation of diluted net loss per share because such shares are
antidilutive:
                                               Three Month Period
                                               Ended December 31,
                                      1997                   1996

Options                          1,094,000                833,000
Warrants                           550,000              2,100,000

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

RESULTS OF OPERATIONS
Three-Month Period Ended December 31, 1997, as Compared With the
Three-Month Period Ended December 31, 1996
      Revenues  in  the  first  quarter of  fiscal  1998  totaled
$1,119,000 as compared to $1,083,000 in the comparable quarter of
1997, an increase of $36,000.  This 3% increase is primarily  due
to   an  increase  in  National  Metal  Refining  Company,  Inc.,
(Nametre)   sales.   The  revenues  for  Nametre  alone   totaled
$612,000,  a  6% increase over the comparable quarter  of  fiscal
1997;  revenues for Holometrix alone totaled $507,000,  equal  to
revenues for the comparable quarter of fiscal 1997.

      Cost of sales decreased by $9000, or 2%, from $569,000 (53%
of sales) in the first quarter of fiscal 1997 to $560,000 (50% of
sales)  in  the same period of fiscal 1998.  This 2% decrease  is
attributable  primarily to Nametre. Cost of sales for  Holometrix
alone  totaled  $342,000, a 5% increase, and  for  Nametre  alone
totaled $218,000, a 10% decrease.  Management attributes this  to
improved operating efficiencies at Nametre.

      Selling,  general and administrative expenses increased  by
$37,000, or 8%, from $463,000 (43% of sales) to $500,000 (45%  of
sales).  Holometrix' expenses alone totaled $193,000, an increase
of 9%, and for Nametre alone totaled $307,000, an increase of 8%.
The  increase was primarily due to increased marketing and  sales
activities.

     Research and development increased $4000 from $75,000 (7% of
sales)  to  $79,000  (also 7% of sales).  Holometrix'  R&D  alone
increased  $5000,  an  increase of  15%  resulting  from  ongoing
product development.

      Loss  from  operations was $21,000 in the first quarter  of
fiscal  1998,  compared with a loss of $24,000 in the  comparable
period  of  fiscal 1997.  Holometrix' loss from operations  alone
was  $70,000.   Consolidated Net loss was $49,000  in  the  first
quarter of 1998.  Holometrix' net loss alone was $77,000 compared
with  a  net loss of $40,000 in the comparable period  of  fiscal
1997.    These   losses   are  due  to  increased   selling   and
administrative costs, partially offset by improved cost of  goods
sold, and income derived from the consolidation of Nametre.

      Total  Assets  decreased  by $244,000  (9%)  in  the  first
quarter,  from  $2,711,000  to  $2,467,000.   Cash  increased  by
$17,000  and,  due  to increased collections  activity,  accounts
receivable   decreased  by  $216,000  in   the   first   quarter.
Inventories  decreased  by $22,000.  Other  assets  decreased  by
$7,000 and equipment and furniture and fixtures and other current
assets  decreased by $23,000, both due primarily to  depreciation
and amortization.

      Total Liabilities decreased by $212,000, primarily due to a
decrease of $271,000 in accounts payable, decrease of $145,000 in
accrued  payroll  and  other expenses,  and  $25,000  in  current
maturities  of long-term debt, offset by an increase of  $230,000
due  to  stockholders.  Accounts payable decreased  by  $271,000,
from  $1,267,000 at September 30, 1997, to $996,000  at  December
31,  1997, primarily due to payment of extended payables  present
at  September  30,1997, to conserve cash.   Accrued  payroll  and
other  expenses decreased by $145,000, from $267,000 at September
30,1997,  to $122,000 at December 31,1997, primarily  because  of
payment  of  commission due to manufacturers representatives  and
internal  employees.   Current  liabilities  due  to  stockholder
increased by $248,000 from $52,000 at Sept. 30, 1997, to $300,000
at  December 31,1997, due to increased borrowings.  Notes payable
stockholder  decreased  by  $18,000 from  $210,000  at  September
30,1997, to $192,000 at December 31,1997, due to payment of  debt
obligations.

     As of December 31,1997, the Company had an outstanding order
backlog  for  products and services of approximately $646,000  as
compared  to  a  backlog  of $801,000 at December  31,1996.   The
Company believes the $646,000 backlog will be realized in  fiscal
1998.    The   outstanding  backlog  for  Holometrix  alone   was
approximately  $174,000,  a decrease  of   $260,000  (60%).   The
backlog  for Nametre alone at December 31,1997, was $472,000,  an
increase of $105,000 (29%).


LIQUIDITY AND CAPITAL RESOURCES

Cash Flows
     Operating cash flows were negative in the first quarter of
fiscal 1998, amounting to ($172,813) as compared to $27,647 in
the comparable quarter of fiscal 1997.  Operating cash flows
approximated the sum of net loss plus depreciation and
amortization, with decreases in accounts receivable of $216,480
and inventories of $21,825 being offset by a decrease in accounts
payable and accrued expense of $416,164.

     The Company funded increases in equipment and fixtures of
$14,294.  Notes Payable to stockholder increased by $230,127.

     The net affect of these transactions was in increase in cash
of $16,733, providing cash at end of the first quarter 1998 of
$201,156.


Notes Payable Line of Credit
      As  of  June  30,  1997, the Company, in concert  with  its
subsidiary Nametre and its parent company Tytronics obtained  new
terms from Silicon Valley Bank for a combined line of credit  and
term  loan of $1,500,000, secured by substantially all assets  of
the Company, its subsidiary Nametre and Tytronics.  This new line
was in effect on July 24, 1997.  Advances under this line through
September  1,  1997,  can not exceed the lesser  of  70%  of  the
Company's  eligible  accounts  receivable,  as  defined,  or  the
consolidated  Tangible Net Worth, as defined, plus  the  minority
interest.   Thereafter, borrowings can not exceed the  lesser  of
70% of the Company's eligible accounts receivable, as defined, or
110%  of the consolidated Tangible Net Worth, as defined.   These
outstanding  amounts  are  payable on  demand  and  advances  are
contingent   upon  maintaining  certain  covenants  relative   to
profitability, liquidity and tangible net worth.  As of  December
31,  1997,  the Company was not in compliance with all  covenants
and  ratios  of the new line of credit.  The Company  obtained  a
waiver from Silicon Valley Bank for these violations.

      In the second half of fiscal 1996 the Company introduced  a
new  instrument product line, namely the Lambda 2000 Series.  The
Company  will continue to invest in enhanced sales and  marketing
efforts,   new  product  development,  and  the  development   of
strategic  relationships,  including licensing,  acquisition,  or
mergers.  Management believes that operating capital and the line
of  credit  from  Silicon  Valley Bank  will  provide  sufficient
capital  to maintain stable Company operations throughout  fiscal
1998.  As previously indicated, the Company has proposed to enter
into   a  reorganization  ("Reorganization")  pursuant  to  which
Tytronics  and  Nametre  will  be merged  into  the  wholly-owned
subsidiary of the Company, Holometrix Acquisition Corp., with the
result  that  Holometrix Acquisition Corp. will be the  surviving
entity.   Following  the  Reorganization, Holometrix  Acquisition
Corp. will be merged into the Company.  Management believes  that
the Reorganization will result in increased operating capital for
the  Company  and more stable Company operations since  Tytronics
and  Nametre  have  a  recent history of  profitable  operations.
However, there can be no guarantees that adequate operating funds
will  be  generated as a result of the Reorganization or  through
revenue   increases,   or  that  strategic   relationships   will
materialize,  or  that  additional funding  can  be  obtained  on
acceptable terms.

PART II - OTHER INFORMATION


Item 1.            Legal Proceedings

      The   Company  was  not  involved  in  any  material  legal
      proceedings as of the date of this report.

Item 2.        Changes in Securities

      Not applicable.

Item 3.Defaults Upon Senior Securities

      Not applicable.

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

      No  matters  were submitted to a vote of security  holders,
      whether  through the solicitation of proxies or  otherwise,
      during the quarter ended December 31, 1997.

Item 5.            Other Information

      Not applicable.

Item 6.Exhibits and Reports on Form 8-K

                       (a) Exhibits

           Financial Data Schedule.

       (b) Reports on Form 8-K

       No applicable.




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



                                    Holometrix, Inc.



                                    By: \s\ John E. Wolfe
                                         John E. Wolfe
                                        President






Date:  February 11, 1998