<PAGE>   1

                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549
                                  Form 10-Q
                      Quarterly Report Under Section 13
                         or 15 (d) of the Securities
                             Exchange Act of 1934
                      ----------------------------------



For the Quarter Ended
  March 31, 1998                                Commission File Number  0-19466
---------------------                           -------------------------------



                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                   ----------------------------------------
            (Exact name of Registrant as specified in its charter)


        Delaware                                             36-3684373        
-----------------------                             ---------------------------
     State or other                                 IRS Employer Identification
     jurisdiction of                                Number                     
     incorporation or
     organization

1300 E. Woodfield Road, Suite 312                    Schaumburg, Illinois 60173 
---------------------------------                    -------------------------- 
Address of principal                                      City, State, Zip Code 
executive offices                                                             
                                                                              
Registrant's telephone number:                             (847) 240-6200       
                                                     -------------------------- 




  Indicate by check mark whether the Registrant (1) has filed all reports
  required to be filed by Section 13 or 15(d) of the Securities Exchange Act
  of 1934 during the preceding 12 months (or for such shorter period that
  the Registrant was required to file such reports), and (2) has been
  subject to such filing requirements for the past 90 days.


                               (1)  Yes  x   No

                               (2)  Yes  x   No



<PAGE>   2

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                                  FORM 10-Q
                     FOR THE QUARTER ENDED MARCH 31, 1998

                        PART I - FINANCIAL INFORMATION

<TABLE>
<S>                                                                <C>
Item 1.
-------

  Index to Financial Statements

     Balance Sheets

        March 31, 1998 (unaudited)                                       3 
                                                                           
        December 31, 1997                                                4 
                                                                           
     Statements of Revenue and Expenses (unaudited)                        
                                                                           
        For the three months ended March 31, 1998                        5 
                                                                           
        For the three months ended March 31, 1997                        6 
                                                                           
     Statements of Changes in Partners' Equity                             
                                                                           
        For the three months ended March 31, 1998                        7 
          (unaudited)                                                      
                                                                           
     Statements of Cash Flows (unaudited)                                  
                                                                           
        For the three months ended March 31, 1998                        8 
                                                                           
        For the three months ended March 31, 1997                        9 
                                                                           
     Notes to Financial Statements (unaudited)                     10 - 11 
                                                                           
                                                                           
Item 2.                                                                    
-------

  Management's Discussion and Analysis of                                  
     Financial Condition and Results of Operations                 12 - 13 
                                                                           
                                                                           
                                                                           
                         PART II - OTHER INFORMATION                       
                                                                           
Items 1-6.                                                              14 
----------
</TABLE>




                                      2
<PAGE>   3

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                                BALANCE SHEETS
                                March 31, 1998
                                 (Unaudited)



<TABLE>
<CAPTION>
                                  Liquidating  Continuing
                                    Limited     Limited
                                   Partners     Partners     Total
                                  -----------  ----------  ----------
<S>                               <C>          <C>         <C>

ASSETS

Cash and cash equivalents          $1,131,263  $1,613,449  $2,744,712
Investments in commercial lease
  paper, net                            1,223      13,969      15,192
Net investment in direct
  financing leases                          -   2,305,939   2,305,939
Diverted and other assets, net        778,877   3,816,267   4,595,144
Datronic assets, net                        -           -           -
                                   ----------  ----------  ----------

                                   $1,911,363  $7,749,624  $9,660,987
                                   ==========  ==========  ==========

LIABILITIES AND PARTNERS' EQUITY

Accounts payable and
  accrued expenses                 $    6,291  $   51,016  $   57,307
Lessee rental deposits                 41,254     222,869     264,123
                                   ----------  ----------  ----------

     Total liabilities                 47,545     273,885     321,430


Total partners' equity              1,863,818   7,475,739   9,339,557
                                   ----------  ----------  ----------

                                   $1,911,363  $7,749,624  $9,660,987
                                   ==========  ==========  ==========
</TABLE>







               See accompanying notes to financial statements.



                                      3
<PAGE>   4

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                                BALANCE SHEETS
                              December 31, 1997


<TABLE>
<CAPTION>
                                  Liquidating  Continuing
                                    Limited     Limited
                                   Partners     Partners      Total
                                  -----------  ----------  -----------
<S>                               <C>          <C>         <C>

ASSETS

Cash and cash equivalents          $1,199,924  $1,874,453   $3,074,377
Investments in commercial lease
  paper, net                            2,072      22,939       25,011
Net investment in direct
  financing leases                          -   2,866,165    2,866,165
Diverted and other assets, net        778,877   3,816,267    4,595,144
Datronic assets, net                        -           -            -
                                   ----------  ----------  -----------


                                   $1,980,873  $8,579,824  $10,560,697
                                   ==========  ==========  ===========


LIABILITIES AND PARTNERS' EQUITY

Accounts payable and
  accrued expenses                 $    6,814  $   55,502  $    62,316
Lessee rental deposits                 41,971     253,663      295,634
                                   ----------  ----------  -----------

     Total liabilities                 48,785     309,165      357,950

Total partners' equity              1,932,088   8,270,659   10,202,747
                                   ----------  ----------  -----------

                                   $1,980,873  $8,579,824  $10,560,697
                                   ==========  ==========  ===========
</TABLE>





               See accompanying notes to financial statements.




                                      4
<PAGE>   5

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                      STATEMENTS OF REVENUE AND EXPENSES
                  For the three months ended March 31, 1998
                                 (Unaudited)



<TABLE>
<CAPTION>
                               Liquidating  Continuing
                                 Limited     Limited
                                Partners     Partners     Total
                               -----------  ----------  ----------
<S>                            <C>          <C>         <C>

Revenue:
 Lease income                  $       263  $   98,676  $   98,939
 Interest income                     4,655      32,007      36,662
                               -----------  ----------  ----------

                                     4,918     130,683     135,601
                               -----------  ----------  ----------

Expenses:
 General Partner's
  expense reimbursement             32,499     221,292     253,791
 Professional fees                  40,478     202,270     242,748
 Other operating expenses            2,783      14,643      17,426
 Credit for lease losses            (2,572)    (12,602)    (15,174)
                               -----------  ----------  ----------

                                    73,188     425,603     498,791
                               -----------  ----------  ----------


Net loss                       $   (68,270) $ (294,920) $ (363,190)
                               ===========  ==========  ==========

Net loss -
 General Partner               $      (683) $   (2,949) $   (3,632)
                               ===========  ==========  ==========

Net loss -
 Limited Partners              $   (67,587) $ (291,971) $ (359,558)
                               ===========  ==========  ==========

Net loss per limited
 partnership unit                   $(2.00)    $ (1.76)
                                    ======     =======

Weighted average number
 of limited partnership units
 outstanding                        33,858     165,901
                                    ======     =======
</TABLE>






               See accompanying notes to financial statements.


                                      5
<PAGE>   6

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                      STATEMENTS OF REVENUE AND EXPENSES
                  For the three months ended March 31, 1997
                                 (Unaudited)



<TABLE>
<CAPTION>
                               Liquidating  Continuing
                                 Limited     Limited
                                Partners     Partners     Total
                               -----------  ----------  ----------
<S>                            <C>          <C>         <C>

Revenue:
 Lease income                  $     2,340  $  194,407  $  196,747
 Interest income                     4,828      35,439      40,267
                               -----------  ----------  ----------

                                     7,168     229,846     237,014
                               -----------  ----------  ----------

Expenses:
 General Partner's
  expense reimbursement             54,400     311,865     366,265
 Professional fees                  15,240      89,260     104,500
 Other operating expenses            3,250      17,498      20,748
 Credit for lease losses           (24,408)    (49,592)    (74,000)
                               -----------  ----------  ----------

                                    48,482     369,031     417,513
                               -----------  ----------  ----------


Net loss                       $   (41,314) $ (139,185) $ (180,499)
                               ===========  ==========  ==========

Net loss -
 General Partner               $      (413) $   (1,392) $   (1,805)
                               ===========  ==========  ==========

Net loss -
 Limited Partners              $   (40,901) $ (137,793) $ (178,694)
                               ===========  ==========  ==========

Net loss per limited
 partnership unit                   $(1.21)    $  (.83)
                                    ======     =======

Weighted average number
 of limited partnership units
 outstanding                        33,858     165,901
                                    ======     =======
</TABLE>






               See accompanying notes to financial statements.


                                      6
<PAGE>   7

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                   STATEMENT OF CHANGES IN PARTNERS' EQUITY
                                 (Unaudited)



<TABLE>
<CAPTION>
                                          Liquidating  Continuing
                                General     Limited     Limited       Total
                               Partner's   Partners'   Partners'    Partners'
                                Equity      Equity       Equity      Equity
                               ---------  -----------  ----------  -----------
  <S>                          <C>        <C>          <C>         <C>


  Balance, December 31, 1997*  $       -  $ 1,932,088  $8,270,659  $10,202,747

   Distributions to partners           -            -    (500,000)    (500,000)
   Net loss                       (3,632)     (67,587)   (291,971)    (363,190)
   Allocation of General
    Partner's Equity               3,632         (683)     (2,949)           -
                               ---------  -----------  ----------  -----------


  Balance, March 31, 1998      $       -  $ 1,863,818  $7,475,739  $ 9,339,557
                               =========  ===========  ==========  ===========
</TABLE>




*    Balances are net of $74,954 and $678,650, of General Partner's equity
     previously allocated to Liquidating and Continuing Limited Partners'
     Equity.















               See accompanying notes to financial statements.



                                      7
<PAGE>   8

                    DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                            STATEMENTS OF CASH FLOWS
                   For the three months ended March 31, 1998
                                  (Unaudited)


<TABLE>
<CAPTION>
                                  Liquidating  Continuing               
                                    Limited     Limited                 
                                   Partners     Partners     Total      
                                  -----------  ----------  ----------   
<S>                               <C>          <C>         <C>          
                                                                        
Cash flows from operating                                               
 activities:                                                            
 Net loss                         $   (68,270) $ (294,920) $ (363,190)  
 Adjustments to reconcile                                               
  net loss to net cash used                                             
  in operating activities:                                              
  Credit for lease losses              (2,572)    (12,602)    (15,174)  
  Changes in assets and                                                 
   liabilities:                                                         
   Accounts payable and                                                 
    accrued expenses                     (523)     (4,486)     (5,009)  
   Lessee rental deposits                (717)    (30,794)    (31,511)  
                                  -----------  ----------  ----------   
                                                                        
                                      (72,082)   (342,802)   (414,884)  
                                  -----------  ----------  ----------   
                                                                        
Cash flows from investing                                               
 activities:                                                            
 Principal collections                                                  
  on leases                             2,572     572,828     575,400   
 Repayments of commercial                                               
  lease paper                             849       8,970       9,819   
                                  -----------  ----------  ----------   
                                                                        
                                        3,421     581,798     585,219   
                                  -----------  ----------  ----------   
                                                                        
Cash flows from financing                                               
 activities:                                                            
 Distributions to                                                       
  Limited Partners                          -    (500,000)   (500,000)  
                                  -----------  ----------  ----------   
                                                                        
Net decrease in cash and                                                
 cash equivalents                     (68,661)   (261,004)   (329,665)  
                                                                        
Cash and cash equivalents:                                              
 Beginning of year                  1,199,924   1,874,453   3,074,377   
                                  -----------  ----------  ----------   
                                                                        
 End of first quarter             $ 1,131,263  $1,613,449  $2,744,712   
                                  ===========  ==========  ==========   
</TABLE>









               See accompanying notes to financial statements.



                                      8

<PAGE>   9

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                           STATEMENTS OF CASH FLOWS
                  For the three months ended March 31, 1997
                                 (Unaudited)


<TABLE>
<CAPTION>
                             Liquidating  Continuing
                               Limited     Limited
                              Partners     Partners     Total
                             -----------  ----------  ----------
<S>                          <C>          <C>         <C>
Cash flows from operating
 activities:
 Net loss                    $   (41,314) $ (139,185) $ (180,499)
 Adjustments to reconcile
  net loss to net cash used
  in operating activities:
  Credit for lease loss          (24,408)    (49,592)    (74,000)
  Changes in assets and
   liabilities:
   Accounts payable and
    accrued expenses             (17,807)    (95,774)   (113,581)
   Lessee rental deposits         (8,047)    (54,315)    (62,362)
   Due from management
    company                        7,747      51,383      59,130
                             -----------  ----------  ----------

                                 (83,829)   (287,483)   (371,312)
                             -----------  ----------  ----------

Cash flows from investing
 activities:
 Principal collections on
  leases                          28,992     975,122   1,004,114
 Repayments of commercial
  lease paper                      1,607      14,851      16,458
                             -----------  ----------  ----------

                                  30,599     989,973   1,020,572
                             -----------  ----------  ----------

Cash flows from financing
 activities:
 Distributions to
  Limited Partners                     -    (499,995)   (499,995)
 Distributions to
  General Partner                      -      (3,188)     (3,188)
                             -----------  ----------  ----------

                                       -    (503,183)   (503,183)
                             -----------  ----------  ----------

Net increase (decrease) in
 cash and cash equivalents       (53,230)    199,307     146,077

Cash and cash equivalents:
 Beginning of year             1,446,892   2,130,637   3,577,529
                             -----------  ----------  ----------

 End of first quarter        $ 1,393,662  $2,329,944  $3,723,606
                             ===========  ==========  ==========
</TABLE>





               See accompanying notes to financial statements.


                                      9
<PAGE>   10

                   DATRONIC EQUIPMENT INCOME FUND XIX, L.P.
                        NOTES TO FINANCIAL STATEMENTS
                                March 31, 1998
                                 (Unaudited)
NOTE 1 - ORGANIZATION:

Datronic Equipment Income Fund XIX, L.P., a Delaware Limited Partnership (the
"Partnership"), was formed on December 22, 1989 for the purpose of acquiring
and leasing both high-and low-technology equipment.  See Notes 5, 8, and 10 to
the Partnership's financial statements included in the 1997 Form 10-K for a
discussion of the alleged diversion of Partnership assets in 1991 and 1992 and
the subsequent litigation and settlement, change in general partner, new
classes of limited partners established and amendments to the Partnership
Agreement which occurred.

NOTE 2 - BASIS OF FINANCIAL STATEMENTS:

The accompanying financial statements should be read in conjunction with the
Partnership's financial statements included in the 1997 Form 10-K.  The
financial information furnished herein is unaudited but in the opinion of
Management includes all adjustments necessary (all of which are normal
recurring adjustments) for a fair presentation of financial condition and
results of operations.  See Note 2 to the Partnership's financial statements
included in the 1997 Form 10-K.

NOTE 3 - LIMITED PARTNERSHIP DISTRIBUTIONS:

Distributions to Liquidating Limited Partners were suspended after payment of
the October 1, 1995 distribution.  Distributions to Continuing Limited Partners
were suspended after payment of the January 1, 1998 distribution.

NOTE 4 - SUBSEQUENT EVENT: SETTLEMENT OF LITIGATION:

On May 5, 1998, Lease Resolution Corporation (LRC), on behalf of Datronic
Equipment Income Funds XVI, XVII, XVIII, XIX, XX and Datronic Finance Income
Fund I, reached an agreement to settle all claims of the aforementioned
partnerships against Weiss & Co. ("Settlement Agreement").  (See Note 8 to the
financial statements included in the Partnership's 1997 Form 10-K).  The
Settlement Agreement is contingent upon subsequent approval by the United
States District Court dismissing Weiss & Co. as a party defendant.  Pursuant to
the terms of the Settlement Agreement, Weiss & Co. has agreed to pay LRC, on
behalf of the aforementioned partnerships, $2.4 million.  LRC will determine
how these proceeds, net of contingent attorneys fees of $600,000, will be
distributed among the partnerships upon completion of the trial currently in
process against Price Waterhouse.  The Settlement Agreement provides for Weiss  
& Co. to transfer $2.4 million to an escrow account.  This amount will be
transferred to LRC no later than 30 days following the United States District
Court entering an order of 



                                      10
<PAGE>   11


dismissal of Weiss & Co. for which no date has yet been set.  All limited       
partners will be notified of the date once it has been scheduled.









































                                      11
<PAGE>   12

PART I

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

The following discussion and analysis of liquidity and capital resources covers
material changes in the Partnership's financial condition from December 31,
1997 through March 31, 1998.  The discussion and analysis of results of
operations is for the three month period ended March 31, 1998 as compared to
the corresponding period in 1997.

Liquidity and Capital Resources

During the three months ended March 31, 1998, Partnership assets continued to
be converted to cash in order to pay Partnership operating expenses, liquidate
Partnership liabilities, make distributions to limited partners and provide for
the ultimate liquidation of the Partnership.

During the three months ended March 31, 1998, the Partnership's cash and cash
equivalents decreased by $330,000 to $2,745,000 at March 31, 1998 from
$3,074,000 at December 31, 1997.  This decrease is primarily due to the use of
cash in operations of $415,000 and distributions to partners of $500,000,
partially offset by cash receipts from collections on leases of $575,000 and
from commercial lease paper of $10,000.

The Partnership's sources of liquidity on both a long-term and short-term basis
are expected to come principally from cash-on-hand and cash receipts from
leases owned by the Partnership.  The lease portfolio is scheduled to be
substantially run out by the end of 2000, unless it is determined that it is in
the Partnership's best interest to dispose of the remaining portfolio earlier
through a bulk sale.  In addition, the Partnership's sources of liquidity on a
long-term basis include proceeds from the sale of Diverted and other assets.
Management believes that its sources of liquidity in the short and long-term
are sufficient to meet its operating cash requirements, provide for ongoing
pursuit of litigation, and an orderly liquidation of the Partnership.

The continued operation and eventual liquidation of the Partnership involves
numerous complex issues which have to be resolved.  These issues relate to the
timing and realizability of lease-related assets, Diverted and other assets,
Datronic assets, litigation and the liquidation of the other Datronic
Partnerships.  These issues make it difficult to predict the time and costs
necessary to operate and liquidate the Partnership in an orderly manner.  As a
result of these uncertainties, it is unlikely that any additional distributions
will be made until all remaining assets are liquidated and the pending



                                      12
<PAGE>   13

litigation is resolved.  The amount of future distributions, if any, to the
Limited Partners, in all likelihood, will be significantly less than the amount
of partners' equity reflected in the March 31, 1998 balance sheets (see
Partnership's financial statements included in Item 1).

Results of Operations

The Partnership had a net loss of $363,000 for the three months ended March 31,
1998 in the aggregate for all classes of partners.  This compares to an
aggregate net loss for the same period in 1997 of $180,000.  Differences in
operating results between Liquidating and Continuing Limited Partners are
attributable to lease income, acquisition costs, and expenses associated with
new lease investments made since the March 4, 1993 Settlement.  Liquidating
Limited Partners do not participate in these post Settlement activities.
Significant factors affecting overall operating results for the two periods
ended March 31, 1998 and 1997 include the following:

Lease income:
Since August 1996, the Partnership has been in its Liquidation Phase which
prohibits investing in any new leases.  Accordingly, the lease portfolio has
continued to decrease as collections are made, resulting in a continued decline
in lease income for the three months ended March 31, 1998 as compared to the
corresponding period in 1997.

Interest income:
Interest income decreased for the three months ended March 31, 1998 as compared
to the corresponding period in 1997 as a result of decreased invested cash
balances.

General Partner's expense reimbursement:
The decrease in first quarter 1998 expense is primarily due to D&O insurance
and reductions in staff and related costs.  Through the first quarter 1997,
insurance premiums were paid on an annual basis; however, in September 1997 a
one-time premium was paid that extended coverage through the ultimate
liquidation date of the Partnership.

Professional fees:
The 1998 increase reflects fees paid in connection with the ongoing litigation
against the Partnership's former accountants which is presently scheduled for
trial in May of 1998.  This increase is partially offset by the decreasing
level of professional services required in such areas as collections,
consulting and auditing.  These decreases are the result of the decrease in the
Partnership's lease portfolio and related activities.

Credit for lease losses:
This credit reflects Management's ongoing assessment of the potential losses
inherent in the lease portfolio and collections on previously reserved
balances.



                                      13
<PAGE>   14

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

Reference is made to Item 3 - Legal Proceedings in the Partnership's December
31, 1997 Form 10-K for a discussion of material legal proceedings involving the
Partnership.


ITEM 2.  CHANGES IN SECURITIES

None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K


(a)  Exhibits


See Exhibit Index.

(b)  Reports on Form 8-K


None.



                                      14
<PAGE>   15

                                  SIGNATURES



Pursuant to the requirements of the Securities Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized, on the  15th day of May 1998.





                       DATRONIC EQUIPMENT INCOME FUND XIX, L.P.     
                       Registrant                                   
                                                                    
                                                                    
                                                                    
                                                                    
                                                                    
                   By: /s/DONALD D. TORISKY                         
                       ----------------------------                 
                       Donald D. Torisky                            
                       Chairman and Chief Executive Officer,        
                       Lease Resolution Corporation                 
                       General Partner of                           
                       Datronic Equipment Income Fund XIX, L.P.     
                                                                    
                                                                    
                                                                    
                                                                    
                   By: /s/ROBERT P. SCHAEN                          
                       ----------------------------                 
                       Robert P. Schaen                             
                       Vice-Chairman and Chief Financial Officer,   
                       Lease Resolution Corporation                 
                       General Partner of                           
                       Datronic Equipment Income Fund XIX, L.P.     





                                      15
<PAGE>   16

                    EXHIBIT INDEX
                    -------------


EXHIBIT NO.              DESCRIPTION
-----------              -----------
    27                   Financial Data Schedule, which is submitted 
                         electronically to the Securities and Exchange 
                         Commission for information only and not filed.












                                      16