United States
                                            Securities and Exchange Commission
                                                  Washington, D.C. 20549

                                                        FORM 10-QSB

[X]Quarterly  Report Under Section 13 or 15(d) of the Securities Exchange Act of
1934

For the quarter ended  September 30, 1995

{]Transition  Report Under Section 13 or 15(d) of the Securities Exchange Act of
1934

For the transition period from                        to

Commission File Number:             0-11883

                           TELEBYTE TECHNOLOGY, INC.
         (Exact name of registrant as specified in its charter)

Nevada                                                             11-2510138
(State or other jurisdiction of                               (IRS Employer
incorporation or organization)                              Identification No.)

270 Pulaski Road, Greenlawn, New York                                    11740
(Address of principal executive offices)                             (Zip Code)

Registrant's Telephone Number, including Area Code:           (516) 423-3232

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  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      X                No

As of November 14, 1995 there were outstanding 1,511,566 shares of Common Stock,
$.01 par value.

Transitional Small Business Disclosure Format (check one);

                           Yes                       No       X


<PAGE>




                                                 TELEBYTE TECHNOLOGY, INC.

                                                           INDEX

Part I            Financial Information

         Item 1.           Financial Statements

                           Balance Sheets
                           September 30, 1995 (Unaudited)

                           Statements of Earnings
                           Three and nine months ended
                           September 30, 1995 and 1994 (Unaudited)

                           Statements of Cash Flows
                           Nine months ended
                           September 30, 1995 and 1994 (Unaudited)

                           Condensed Notes to Financial
                           Statements (Unaudited)

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



Part II  Other Information


<PAGE>


<TABLE>
<CAPTION>

                                                                        Part I
                              Financial Information

Item 1.      Financial Statements

                            TELEBYTE TECHNOLOGY, INC.
                                 BALANCE SHEETS
                                                                                                            September 30,1995
ASSETS                                                                                                            (unaudited)

CURRENT ASSETS
<S>                                                                                                                <C>            
             Cash & cash equivalents                                                                               $       623,353
             Accounts receivable, less
               allowances for doubtful accounts                                                                            466,759
             Inventory                                                                                                     962,712
             Prepaid expenses                                                                                               40,625
             Deferred Income Taxes                                                                                          80,000
                                                                                                               --------------------
             TOTAL CURRENT ASSETS                                                                                        2,173,449

             PROPERTY, PLANT AND EQUIPMENT, less
               accumulated depreciation and amortization                                                                 1,185,374

             OTHER ASSETS                                                                                                   48,603
                                                                                                               --------------------
                                                                                                                    $    3,407,426
                                                                                                               ====================

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
             Accounts payable                                                                                     $         76,713
             Accrued expenses                                                                                               91,615
             Current maturities of long-term debt                                                                           47,165
                                                                                                               --------------------
             TOTAL CURRENT LIABILITIES                                                                                     215,493

LONG-TERM DEBT, less current maturities                                                                                  1,074,250

SHAREHOLDERS' EQUITY
             Common stock, par value $.01 per share
               1,636,566 issued and 1,511,566 outstanding                                                                   16,366
             Capital in excess of par value                                                                              2,751,988
             Accumulated deficit                                                                                         (573,013)
             Less treasury stock, at cost,
               (125,000 shares)                                                                                           (77,658)
                                                                                                               --------------------
                                                                                                                         2,117,683
                                                                                                               --------------------

TOTAL LIABILITIES AND SHAREHOLDER'S' EQUITY                                                                         $    3,407,426

                                                                                                               ====================
</TABLE>
             The  accompanying  notes  are an  integral  part of this  financial
statement.





<PAGE>

<TABLE>
<CAPTION>

                             TELEBYTE TECHNOLOGY, INC.
                             STATEMENTS OF EARNINGS
                                   (Unaudited)

                                                            Three Months                                    Nine
                                                                                                            Months
                                                        Ended September 30,                                 Ended
                                                                                                            September
                                                                                                            30,
                                               ---------------------------------------   ------------------------------------------

                                                     1995                 1994                  1995                  1994
                                               ------------------   ------------------   -------------------   --------------------

<S>                                                <C>                    <C>                 <C>                   <C>           
NET SALES                                          $     959,169          $ 1,007,701         $   2,854,691         $    2,865,163

COST OF SALES                                            437,706              457,624             1,256,402              1,283,790
                                               ------------------   ------------------   -------------------   --------------------
GROSS PROFIT                                             521,463              550,077             1,598,289              1,581,373
                                               ------------------   ------------------   -------------------   --------------------

OPERATING EXPENSES
      Research and development                            65,860               68,964               209,919                182,913
      Selling, general and administrative                386,741              387,085             1,228,554              1,145,503
                                               ------------------   ------------------   -------------------   --------------------
                                                         452,601              456,049             1,438,473              1,328,416
                                               ------------------   ------------------   -------------------   --------------------

Operating Income                                          68,862               94,028               159,816                252,957
                                               ------------------   ------------------   -------------------   --------------------

OTHER INCOME (EXPENSE)
    Rental Income                                         12,048               12,048                36,146                 24,097
    Interest Income                                        4,838                4,176                14,400                  7,495
    Interest Expense                                    (29,996)             (34,519)              (86,897)              (100,758)
                                               ------------------   ------------------   -------------------   --------------------

       Income before income taxes                         55,752               75,733               123,465                183,791

Provision for income taxes                                 1,700                3,800                 4,000                  8,500
                                               ------------------   ------------------   -------------------   --------------------

      NET INCOME (LOSS)                           $       54,052        $      71,933        $      119,465        $       175,291
                                               ==================   ==================   ===================   ====================

      NET INCOME PER SHARE                                                                                            
                                                           $0.04                $0.05                $ 0.08                  $0.11
                                               ==================   ==================   ===================   ====================

Average number of shares                               1,511,566            1,519,899             1,511,566              1,531,010
                                               ==================   ==================   ===================   ====================
</TABLE>

The accompanying notes are an integral part of this financial statement




<PAGE>

<TABLE>
<CAPTION>

                            TELEBYTE TECHNOLOGY, INC.
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                                                                            Nine
                                                                                                            Months
                                                                                                            Ended
                                                                                                            September
                                                                                                            30,
                                                                                         ------------------------------------------

                                                                                                1995                  1994
                                                                                         -------------------   --------------------
CASH FLOWS FROM OPERATING ACTIVITIES

<S>                                                                                          <C>                   <C>            
Net Income                                                                                   $      119,465        $       175,291
Adjustments to reconcile net income to
  net cash used in operating activities:
             Depreciation and amortization                                                           38,474                 38,429
             Decrease (increase) in assets:
               Accounts receivable                                                                 (55,016)               (46,814)
               Inventories                                                                           89,345              (115,742)
               Prepaid expenses and other                                                           108,406                (6,814)
               Increase (decrease)  in liabilities:
               Accounts payable                                                                    (64,504)              (108,186)
               Accrued expenses                                                                      28,403                 48,181
                                                                                         -------------------   --------------------
Net cash provided by (used in)
operating activities                                                                                264,573               (15,655)
                                                                                         -------------------   --------------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Cash was paid for:
             Property and equipment                                                                  65,554                 66,788
                                                                                         -------------------   --------------------

Net cash used in investing activities                                                              (65,554)               (66,788)
                                                                                         -------------------   --------------------

CASH FLOWS FROM FINANCING ACTIVITIES
  Cash received from:
             Financing capital assets                                                                26,257                 20,350
  Cash was used for:
             Purchase Treasury Stock                                                                      0                 22,658
             Principal payments of long-term debt                                                    41,300                 28,858
                                                                                         -------------------   --------------------
Net cash used in financing activities                                                              (15,043)               (31,166)
                                                                                         -------------------   --------------------
Net increase (decrease) in cash and
  cash equivalents                                                                                  183,976              (113,609)
Cash and cash equivalents at
  beginning of period                                                                               439,377                545,508
                                                                                         -------------------   --------------------
Cash and cash equivalents at
  end of period                                                                              $      623,353        $       431,899
                                                                                         ===================   ====================
</TABLE>

             The  accompanying  notes  are an  integral  part of this  financial
statement.




<PAGE>




                                                TELEBYTE TECHNOLOGY, INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
                                                        (Unaudited)

1.       CONDENSED FINANCIAL STATEMENTS

The balance  sheet as of September  30, 1995,  the statement of earnings for the
three and nine months then ended and the  statements  of cash flows for the nine
month period then ended have been prepared by the Company  without audit. In the
opinion of management,  all  adjustments  (which  include only normal  recurring
adjustments)  necessary to present  fairly the  financial  position,  results of
operations and cash flows at September 30, 1995 have been made.

Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have been condensed or omitted. It is suggested that these financial  statements
be read in conjunction with the financial  statements and notes thereto included
in the  Company's  annual  report to  shareholders  for the  fiscal  year  ended
December 31, 1994. The results of operations for the period ended  September 30,
1995 are not necessarily indicative of the operating results for the full year.

<PAGE>


Item  2.Management's  Discussion and Analysis of Financial  Condition or Plan of
Operation.

RESULTS OF OPERATIONS

Sales for the third quarter ended  September 30, 1995  decreased 5% to $ 959,169
compared  to sales of  $1,007,701  for the same  period  in 1994,  and  sales of
$1,010,590 for the second quarter of 1995.  This decrease can be attributed to a
poor response to a major direct mail campaign during the second quarter of 1995.
In addition,  several  larger orders were delayed in placement and  subsequently
affected sales in the third quarter.

Cost of sales for the third  quarter  of  $437,706  or 45.6% of sales  increased
compared to $457,624 or 45.4% of sales  during the same period in 1994 and 43.2%
of sales for the second  quarter of 1995.  The increase was due primarily to the
lower margins from the sale of discontinued video products.

Selling,  general and  administrative  expenses of $386,741  decreased  slightly
compared to $387,085 for the same period in 1994 and decreased  from $443,568 in
the second quarter of 1995, a 13% decrease. The decrease from the second quarter
of 1995 reflects lower direct marketing  expenses  compared to the third quarter
of 1995.

Research and development  expenses  decreased to $65,860 compared to $68,964 for
the third quarter of 1994 and $76,021 in the second quarter of 1995. The Company
continues  the  development  of several new  products,  including  an HDSL (High
Datarate  Subscriber Line) modem. The HDSL technology allows for high speed data
transmission,  T1 speeds, over greater distances than previously attainable.  T1
service is growing in popularity  since the  requirement to  interconnect  Local
Area Networks (LAN's) is dramatically increasing.  The first product is expected
to be  introduced  in the second  quarter of 1996.  Another  major effort is the
development  of a media  converter  for LAN's  that will  operate at the new 100
million bits per second rate,  referred to as 100 BASE-T or Fast Ethernet.  This
media converter allows Fast Ethernet systems to use fiber optic cables for error
free data transmission.  This product, called the Model 372 is expected to start
shipping in the first quarter of 1996.

During 1995, the Company has developed a display technology which it believes is
a  significant  feature for its power  stealing  short haul modems and interface
converters.  A patent  application  has been submitted to cover this LCD display
concept.  The  display  will  provide  the user with  operational  status of the
communications  link.  The  Company  expects  eight new  products  which will be
introduced in the first half of 1996 that  incorporate  this display feature and
another which is being introduced in the last quarter of 1995. It is anticipated
that additional  products will be introduced with this LCD display.  Promotional
support for these new products will begin in January of 1996.



<PAGE>



Interest income  increased to $4,838 and $14,400 for three and nine months ended
September  30, 1995,  compared to $4,176 and $7,495 for the  comparable  periods
ended  September  30, 1994.  The increase  reflects  higher yields on short term
investments  of cash  equivelents.  Net income of $54,052 for the third  quarter
decreased compared to $71,933 for the third quarter of 1994. The decrease can be
primarily attributed to lower than expected sales during the third quarter.


LIQUIDITY AND CAPITAL RESOURCES

Net cash provided by operating activities was $264,573 compared to net cash used
of $15,655 for the same period in 1994. This  improvement  resulted from reduced
inventory levels and utilization of prepaid expenses.  Working capital increased
to  $1,957,956  at September  30, 1995, an increase of $160,452 from December 31
1994. The current ratio at September 30, 1995 increased to 10.1 to 1 compared to
8.1 to 1 at December 31, 1994. The Company maintains a $1,000,000 line of credit
with  Merrill  Lynch  effective  July 1, 1995 for one year.  The  Company has no
amounts outstanding under the line of credit at this time. The Company considers
it's  working  capital to be  adequate  to fund  presently  foreseeable  working
capital requirements.




<PAGE>



PART II -- OTHER INFORMATION


Item 1.  Legal Proceedings

         Not applicable.

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

         Not applicable.

Item 5.  Other Information

         Not applicable.

Item 6.  Exhibits and Reports on Form 8-K

                           (a)      Exhibits no. 27 - Financial Data Schedule

                           (b)      Reports on Form 8-K - None



<PAGE>


                                                        SIGNATURES

         In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                            TELEBYTE TECHNOLOGY, INC.
                                            (Registrant)

Dated:    November 14, 1995                 By:
                                            Joel A. Kramer
                                            President, Chief Executive Officer
                                            and Chief Financial Officer