UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q


             [x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 1, 2001
                                               -----------------

                                       OR

            [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

              For the transition period from _________ to _________


                         Commission file number 1-11479
                                                -------


                                  E-Z-EM, Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


                    Delaware                           11-1999504
        ---------------------------------         -------------------
         (State or other jurisdiction of           (I.R.S. Employer
          incorporation or organization)          Identification No.)


               717 Main Street, Westbury, New York      11590
              -------------------------------------    --------
          (Address of principal executive offices)    (Zip Code)


                                 (516) 333-8230
               --------------------------------------------------
               Registrant's telephone number, including area code


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.

                                    Yes    X    No
                                        ------    -----

As of October  9, 2001,  there were  4,004,520  shares of the  issuer's  Class A
Common Stock  outstanding  and 5,839,280  shares of the issuer's  Class B Common
Stock outstanding.


                                      -1-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                                      INDEX
                                      -----


Part 1:  Financial Information                                        Page
-------  ---------------------                                        ----


    Item 1.  Financial Statements


       Consolidated Balance Sheets - September 1, 2001 and
          June 2, 2001                                                3 - 4


       Consolidated Statements of Operations - thirteen weeks
          ended September 1, 2001 and September 2, 2000                 5


       Consolidated Statement of Stockholders' Equity and
          Comprehensive Loss - thirteen weeks ended
          September 1, 2001                                             6


       Consolidated Statements of Cash Flows - thirteen weeks
          ended September 1, 2001 and September 2, 2000               7 - 8


       Notes to Consolidated Financial Statements                     9 - 14


    Item 2.  Management's Discussion and Analysis of Financial
                    Condition and Results of Operations               15 - 18


    Item 3.  Quantitative and Qualitative Disclosures About
                    Market Risk                                       18 - 19


Part II:  Other Information
--------  -----------------


    Item 6.  Exhibits and Reports on Form 8-K                            20


                                      -2-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                           CONSOLIDATED BALANCE SHEETS
                                 (in thousands)


                                                    September 1,    June 2,
              ASSETS                                    2001         2001
                                                       ------       ------
                                                    (unaudited)    (audited)

CURRENT ASSETS
    Cash and cash equivalents                        $ 6,770        $ 4,391
    Debt and equity securities                        13,861         13,748
    Accounts receivable, principally
       trade, net                                     20,312         23,371
    Inventories                                       23,195         22,021
    Other current assets                               4,385          5,901
                                                     -------        -------

          Total current assets                        68,523         69,432

PROPERTY, PLANT AND EQUIPMENT - AT COST,
    less accumulated depreciation and
    amortization                                      19,784         19,750

COST IN EXCESS OF FAIR VALUE OF NET ASSETS
    ACQUIRED, less accumulated amortization              372            376

INTANGIBLE ASSETS, less accumulated
    amortization                                       1,298          1,329

DEBT AND EQUITY SECURITIES                               303            846

INVESTMENT AT COST                                       600

OTHER ASSETS                                           5,969          5,722
                                                     -------        -------

                                                     $96,849        $97,455
                                                     =======        =======




The accompanying notes are an integral part of these statements.


                                      -3-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                           CONSOLIDATED BALANCE SHEETS
                 (in thousands, except share and per share data)


                                                      September 1,     June 2,
    LIABILITIES AND STOCKHOLDERS' EQUITY                 2001           2001
                                                        ------         ------
                                                      (unaudited)     (audited)

CURRENT LIABILITIES
    Notes payable                                     $    825      $    854
    Current maturities of long-term debt                   191           156
    Accounts payable                                     5,367         4,798
    Accrued liabilities                                  6,653         7,329
    Accrued income taxes                                   138           111
                                                      --------      --------

          Total current liabilities                     13,174        13,248

LONG-TERM DEBT, less current maturities                    477           408

OTHER NONCURRENT LIABILITIES                             2,841         2,795
                                                      --------      --------

          Total liabilities                             16,492        16,451
                                                      --------      --------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
    Preferred stock, par value $.10 per
      share - authorized, 1,000,000 shares;
      issued, none
    Common stock
      Class  A  (voting),  par  value  $.10 per
        share - authorized, 6,000,000 shares;
        issued and outstanding 4,008,398 shares
        at September 1, 2001 and 4,011,396
        shares at June 2, 2001 (excluding 44,858
        and 41,860 shares held in treasury at
        September 1, 2001 and June 2, 2001,
        respectively)                                      401           401
      Class B (non-voting), par value $.10 per
        share - authorized, 10,000,000 shares;
        issued and outstanding 5,841,330 shares
        at September 1, 2001 and 5,843,426
        shares at June 2, 2001 (excluding
        397,347 and 395,251 shares held in
        treasury at September 1, 2001 and June
        2, 2001, respectively)                             584           584
    Additional paid-in capital                          20,041        20,066
    Retained earnings                                   63,026        63,138
    Accumulated other comprehensive income (loss)       (3,695)       (3,185)
                                                      --------      --------

          Total stockholders' equity                    80,357        81,004
                                                      --------      --------

                                                      $ 96,849      $ 97,455
                                                      ========      ========


The accompanying notes are an integral part of these statements.


                                      -4-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (unaudited)
                      (in thousands, except per share data)


                                                      Thirteen weeks ended
                                                    -------------------------
                                                 September 1,    September 2,
                                                     2001            2000
                                                    ------          ------


Net sales                                         $ 27,641         $ 27,733

Cost of goods sold                                  16,971           16,264
                                                  --------         --------

      Gross profit                                  10,670           11,469
                                                  --------         --------

Operating expenses
  Selling and administrative                         9,465            8,696
  Loss on sale of subsidiary and
    related assets                                                      872
  Research and development                           1,481            1,272
                                                  --------         --------

    Total operating expenses                        10,946           10,840
                                                  --------         --------

      Operating profit (loss)                         (276)             629

Other income (expense)
  Interest income                                      152              226
  Interest expense                                     (70)             (71)
  Other, net                                           120               18
                                                  --------         --------

      Earnings (loss) before income taxes              (74)             802

Income tax provision (benefit)                          38           (1,040)
                                                  --------         --------

      NET EARNINGS (LOSS)                         $   (112)        $  1,842
                                                  ========         ========

Earnings (loss) per common share
  Basic                                           $   (.01)        $    .19
                                                  ========         ========

  Diluted                                         $   (.01)        $    .18
                                                  ========         ========

Weighted average common shares
  Basic                                              9,853            9,915
                                                  ========         ========

  Diluted                                            9,853           10,245
                                                  ========         ========




The accompanying notes are an integral part of these statements.


                                      -5-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

      CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE LOSS

                     Thirteen weeks ended September 1, 2001
                                   (unaudited)
                        (in thousands, except share data)

<TABLE>
<CAPTION>
                                     Class A               Class B                              Accumulated
                                   common stock         common stock     Additional                other               Compre-
                                 ----------------     -----------------   paid-in    Retained  comprehensive           hensive
                                  Shares   Amount      Shares    Amount   capital    earnings  income (loss)   Total    loss
                                 --------  ------     ---------  ------   ---------  --------  -------------  -------  -------
<S>                              <C>         <C>      <C>         <C>      <C>         <C>       <C>         <C>         <C>
Balance at June 2, 2001          4,011,396   $  401   5,843,426   $  584   $ 20,066    $63,138   $ (3,185)   $ 81,004

Compensation related to
  stock option plans                                                              2                                 2
Purchase of treasury stock          (2,998)              (2,096)                (27)                              (27)
Net loss                                                                                  (112)                  (112)   $(112)
Unrealized holding loss on debt
  and equity securities                                                                              (445)       (445)    (445)
Foreign currency translation
  adjustments                                                                                         (65)        (65)     (65)
                                 ---------   ------   ---------   ------   --------    -------   --------    --------    -----

Comprehensive loss                                                                                                       $(622)
                                                                                                                         =====
Balance at September 1, 2001     4,008,398   $  401   5,841,330   $  584   $ 20,041    $63,026   $ (3,695)   $ 80,357
                                 =========   ======   =========   ======   ========    =======   ========    ========
</TABLE>


The accompanying notes are an integral part of this statement.


                                      -6-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (unaudited)
                                 (in thousands)


                                                      Thirteen weeks ended
                                                    ------------------------
                                                    September 1,   September 2,
                                                        2001           2000
                                                       ------         ------


Cash flows from operating activities:
  Net earnings (loss)                              $   (112)         $  1,842
  Adjustments to reconcile net earnings
    (loss) to net cash provided by operating
    activities
      Depreciation and amortization                     707               704
      Impairment of long-lived assets                                     450
      Provision for (reduction in) doubtful
        accounts                                        (28)               33
      Loss on sale of subsidiary and
        related assets                                                    872
      Deferred income tax provision (benefit)             2            (1,731)
      Other non-cash items                                2                 1
      Changes in operating assets and
        liabilities, net of sale
          Accounts receivable                         3,087             1,076
          Inventories                                (1,174)              210
          Other current assets                        1,516              (267)
          Other assets                                 (152)              (81)
          Accounts payable                              569              (264)
          Accrued liabilities                          (676)             (979)
          Accrued income taxes                           25               256
          Other noncurrent liabilities                   50                48
                                                   --------          --------

            Net cash provided by operating
              activities                              3,816             2,170
                                                   --------          --------

Cash flows from investing activities:
  Additions to property, plant and
    equipment, net                                     (762)             (851)
  Proceeds from sale of subsidiary and
    related assets                                                      3,250
  Investment at cost                                   (600)
  Available-for-sale securities
    Purchases                                       (26,240)          (24,273)
    Proceeds from sale                               26,127            17,960
                                                   --------          --------

      Net cash used in investing activities          (1,475)           (3,914)
                                                   --------          --------

Cash flows from financing activities:
  Proceeds from issuance of debt                        147
  Repayments of debt                                    (75)              (61)
  Proceeds from exercise of stock options,
    including related income tax benefits                                  16
  Purchase of treasury stock                            (27)             (147)
                                                   --------          --------

      Net cash provided by (used in)
        financing activities                             45              (192)
                                                   --------          --------


                                      -7-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
                                   (unaudited)
                                 (in thousands)



                                                      Thirteen weeks ended
                                                    ------------------------
                                                    September 1,   September 2,
                                                        2001           2000
                                                       ------         ------

Effect of exchange rate changes on
  cash and cash equivalents                          $    (7)       $   (27)
                                                     -------        -------

      INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS                               2,379         (1,963)

Cash and cash equivalents
  Beginning of period                                  4,391          5,583
                                                     -------        -------

  End of period                                      $ 6,770        $ 3,620
                                                     =======        =======

Supplemental disclosures of cash
  flow information:
    Cash paid (refunded) during the period for:
      Interest                                       $    22        $    21
                                                     =======        =======

      Income taxes paid (refunded) (net of $815
        in refunds in 2001)                          $  (591)       $   511
                                                     =======        =======




The accompanying notes are an integral part of these statements.


                                      -8-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                     September 1, 2001 and September 2, 2000
                                   (unaudited)


NOTE A - CONSOLIDATED FINANCIAL STATEMENTS

    The  consolidated  balance sheet as of September 1, 2001,  the  consolidated
    statement  of  stockholders'  equity and  comprehensive  loss for the period
    ended September 1, 2001, and the  consolidated  statements of operations and
    cash flows for the periods  ended  September 1, 2001 and  September 2, 2000,
    have been prepared by the Company without audit.  The  consolidated  balance
    sheet as of June 2, 2001 was derived  from  audited  consolidated  financial
    statements.  In the opinion of management,  all  adjustments  (which include
    only  normally  recurring  adjustments)  necessary  to  present  fairly  the
    financial position,  changes in stockholders' equity and comprehensive loss,
    results  of  operations  and cash  flows at  September  1, 2001 (and for all
    periods presented) have been made.

    Certain information and footnote disclosures, normally included in financial
    statements  prepared in  accordance  with  accounting  principles  generally
    accepted in the United States of America, have been condensed or omitted. It
    is  suggested  that  these  consolidated  financial  statements  be  read in
    conjunction with the financial  statements and notes thereto included in the
    fiscal  2001  Annual  Report on Form 10-K filed by the Company on August 30,
    2001. The results of operations for the periods ended  September 1, 2001 and
    September 2, 2000 are not  necessarily  indicative of the operating  results
    for the respective full years.

    The consolidated  financial  statements include the accounts of E-Z-EM, Inc.
    and  all  100%-owned   subsidiaries   (the   "Company").   All   significant
    intercompany balances and transactions have been eliminated.


NOTE B - EARNINGS PER COMMON SHARE

    Basic earnings per share are based on the weighted  average number of common
    shares outstanding without  consideration of potential common stock. Diluted
    earnings  per share are based on the weighted  average  number of common and
    potential common shares outstanding.  The calculation takes into account the
    shares that may be issued upon  exercise  of stock  options,  reduced by the
    shares that may be  repurchased  with the funds  received from the exercise,
    based on the average price during the period.  Potential  common shares were
    excluded from the diluted calculation for the thirteen weeks ended September
    1, 2001, as their effects were anti-dilutive.

    The following table sets forth the  reconciliation  of the weighted  average
    number of common shares:

                                                      Thirteen weeks ended
                                                    ------------------------
                                                    September 1, September 2,
                                                      2001          2000
                                                      ------       ------
                                                         (in thousands)

        Basic                                          9,853        9,915
        Effect of dilutive securities
          (stock options)                                             330
                                                      ------       ------

        Diluted                                        9,853       10,245
                                                      ======       ======


                                      -9-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

                     September 1, 2001 and September 2, 2000
                                   (unaudited)


NOTE B - EARNINGS PER COMMON SHARE (continued)

    Excluded from the  calculation of earnings per common share,  are options to
    purchase  1,071,777 and 462,915  shares of common stock at September 1, 2001
    and  September  2,  2000,   respectively,   as  their   inclusion  would  be
    anti-dilutive.


NOTE C - RECLASSIFICATIONS

    Pursuant to the Financial  Accounting  Standards  Board Emerging Issues Task
    Force Issue No.  00-10,  "Accounting  for  Shipping  and  Handling  Fees and
    Costs",  which was adopted in the fourth quarter of fiscal 2001, the Company
    has reclassified freight billed to customers from selling and administrative
    expenses  to net sales,  and has  reclassified  related  freight  costs from
    selling and  administrative  expenses to cost of goods  sold.  Prior  period
    amounts have been restated to conform to this presentation.  This change had
    no effect on the  dollar  amount of the  Company's  operating  profit or net
    earnings.


NOTE D - ACCOUNTING FOR BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS

    As  of  June  3,  2001,  the  Company   adopted  SFAS  No.  141,   "Business
    Combinations"  and SFAS No. 142,  "Goodwill  and Other  Intangible  Assets".
    These standards require that all business combinations  initiated after June
    30, 2001 be  accounted  for under the  purchase  method.  In  addition,  all
    intangible  assets acquired that are obtained  through  contractual or legal
    right,  or are  capable of being  separately  sold,  transferred,  licensed,
    rented or exchanged be recognized as an asset apart from goodwill.  Goodwill
    and intangibles with indefinite lives are no longer subject to amortization,
    but are subject to at least an annual  assessment for impairment by applying
    a fair value based test. The Company has performed a transitional fair value
    based  impairment  test on its goodwill and  determined  that the fair value
    exceeded the recorded value at June 3, 2001.  Therefore,  no impairment loss
    was recorded during the thirteen weeks ended September 1, 2001. Net earnings
    for the  thirteen  weeks  ended  September  2, 2000  would  have  changed by
    approximately  $3,000, net of tax, if the recorded goodwill amortization was
    added back.  Basic and diluted  earnings per share in such period would have
    been unchanged. Annual amortization of intangibles will approximate $122,000
    for each of the next five years.


                                      -10-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

                     September 1, 2001 and September 2, 2000
                                   (unaudited)


NOTE E - COMPREHENSIVE INCOME (LOSS)

    The components of  comprehensive  income (loss),  net of related tax, are as
    follows:

                                                        Thirteen weeks ended
                                                      ------------------------
                                                      September 1,  September 2,
                                                         2001          2000
                                                        ------        ------
                                                            (in thousands)

        Net earnings (loss)                              $  (112)     $ 1,842
        Unrealized holding loss on debt
          and equity securities                             (445)      (1,238)
        Foreign currency translation
          adjustments:
            Arising during the period                        (65)         (80)
            Reclassification adjustment for sale
              of investment in a foreign entity                           994
                                                         -------      -------

                Comprehensive income (loss)              $  (622)     $ 1,518
                                                         =======      =======

    The  components of accumulated  other  comprehensive  income (loss),  net of
    related tax, are as follows:
                                                         September 1,   June 2,
                                                            2001         2001
                                                            ------      ------
                                                              (in thousands)

        Unrealized holding gain (loss) on debt
          and equity securities                            $  (247)     $   198
        Cumulative translation adjustments                  (3,448)      (3,383)
                                                           -------      -------

            Accumulated other comprehensive income
              (loss)                                       $(3,695)     $(3,185)
                                                           =======      =======


NOTE F - INVESTMENT AT COST

    In  August  2001,  the  Company  acquired  240,000  shares  of the  Series B
    Convertible   Preferred  Stock,  or  approximately  5%,  of  PointDx,   Inc.
    ("PointDx")  for  $600,000.   PointDx,  a  Delaware   corporation  based  in
    Winston-Salem,  North Carolina,  is an emerging medical  technology  company
    focused on the  development of virtual  colonoscopy  software and structured
    reporting  solutions for  radiology.  Virtual  colonoscopy  is an innovative
    technology  which  visualizes  the colon  using  advanced CT imaging and 3-D
    computer  reconstruction  of that image data.  The Company  also  acquired a
    three-year  warrant to purchase an additional 120,000 shares of the Series B
    Convertible  Preferred Stock at $2.50 per share,  and the right to designate
    one nominee for the PointDx board of directors.  The Company's investment in
    PointDx is accounted for by the cost method.


                                      -11-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

                     September 1, 2001 and September 2, 2000
                                   (unaudited)


NOTE G - SALE OF SUBSIDIARY AND RELATED ASSETS

    On July  27,  2000,  AngioDynamics,  Inc.  sold  all the  capital  stock  of
    AngioDynamics Ltd., a wholly-owned  subsidiary,  and certain other assets to
    AngioDynamics  Ltd.'s  management.  AngioDynamics  Ltd., located in Ireland,
    manufactured  cardiovascular  and  interventional  radiology  products.  The
    aggregate  consideration  paid  was  $3,250,000  in  cash.  The sale was the
    culmination of the Company's  strategic  decision to exit the cardiovascular
    market and to focus entirely on the interventional radiology marketplace. As
    a  result  of  this  sale,   the  Company   recognized  a  pre-tax  loss  of
    approximately  $872,000  during the thirteen weeks ended  September 2, 2000.
    The aforementioned pre-tax loss includes the effect of previously unrealized
    losses on foreign  currency  translation of  approximately  $994,000 and the
    write-off of approximately  $673,000 in inventory and intangibles related to
    the  cardiovascular  product  line,  both of which  were  non-cash  charges.
    Further,   AngioDynamics   entered  into  a   manufacturing   agreement,   a
    distribution  agreement and a royalty  agreement  with the buyer.  Under the
    two-year  manufacturing  agreement,  the buyer will be manufacturing certain
    interventional radiology products sold by AngioDynamics.


NOTE H - ASSET IMPAIRMENT CHARGE

     In  accordance  with  SFAS  No.  121,  "Accounting  for the  Impairment  of
     Long-Lived  Assets  and for  Long-Lived  Assets  to be  Disposed  Of,"  the
     Company's Diagnostic operating segment recorded an impairment charge during
     the thirteen weeks ended September 2, 2000 of $450,000  relating to certain
     acquired  patent  rights to an oral  magnetic  resonance  imaging  contrast
     agent. The Company determined that the revenue potential of this technology
     was  impaired,  since it believed that the market for this  technology  was
     significantly  less  than  previously  projected.   The  impairment  charge
     represented  the  difference  between the carrying  value of the intangible
     asset and the fair  market  value of this asset based on  estimated  future
     discounted cash flows.  The charge had no impact on the Company's cash flow
     or its ability to generate cash flow in the future.  For the thirteen weeks
     ended  September  2,  2000,  the  impairment  charge  is  included  in  the
     consolidated  statement  of  operations  under  the  caption  "Selling  and
     administrative".


NOTE I - INVENTORIES

    Inventories consist of the following:

                                                    September 1,   June 2,
                                                      2001          2001
                                                     ------         ------
                                                         (in thousands)

      Finished goods                                 $11,008      $11,093
      Work in process                                  1,986        1,826
      Raw materials                                   10,201        9,102
                                                     -------      -------

                                                     $23,195      $22,021
                                                     =======      =======


                                      -12-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

                     September 1, 2001 and September 2, 2000
                                   (unaudited)


NOTE J - INCOME TAXES

    During the thirteen weeks ended  September 2, 2000, the Company  reduced its
    valuation   allowance   primarily  to  recognize   deferred  tax  assets  of
    approximately  $1,344,000.  Continued and projected future  profitability of
    the Company's U.S.  operations,  including those of  AngioDynamics,  made it
    more  likely than not that  certain  deferred  tax assets  would be realized
    through future taxable earnings.


NOTE K - COMMON STOCK

    Under the 1983 and 1984 Stock  Option  Plans,  options for 8,497 shares were
    forfeited at prices ranging from $5.39 to $8.58 per share, options for 1,194
    shares expired at $9.58 per share,  and no options were granted or exercised
    during  the  thirteen  weeks  ended  September  1,  2001.   Under  the  1997
    AngioDynamics  Stock  Option  Plan,  options for 3.18 shares were granted at
    $40,000  per share,  options for .06 shares  were  forfeited  at $40,000 per
    share,  and no options were  exercised or expired  during the thirteen weeks
    ended September 1, 2001.

    In January 1999,  the Board of Directors  authorized the repurchase of up to
    500,000  shares  of the  Company's  Class B  Common  Stock  at an  aggregate
    purchase price of up to $2,000,000.  In October 1999, the Board modified the
    program to include the Company's Class A Common Stock. In February 2000, the
    Board further modified the program to increase the aggregate  purchase price
    of Class A and  Class B  Common  Stock by an  additional  $2,000,000.  As of
    September  1, 2001,  the Company had  repurchased  44,858  shares of Class A
    Common Stock and 397,347  shares of Class B Common  Stock for  approximately
    $3,084,000.


NOTE L - OPERATING SEGMENTS

    The Company is engaged in the manufacture and distribution of a wide variety
    of products which are  classified  into two operating  segments:  Diagnostic
    products and  AngioDynamics  products.  Diagnostic  products  encompass both
    contrast  systems,  consisting of barium  sulfate  formulations  and related
    medical  devices  used in X-ray,  CT-scanning,  ultrasound  and MRI  imaging
    examinations,  and  non-contrast  systems,  including the  electromechanical
    injector   line,    radiological    medical    devices,    custom   contract
    pharmaceuticals,   gastrointestinal  cleansing  laxatives,  and  immunoassay
    tests.  AngioDynamics  products include angiographic,  image-guided vascular
    access, thrombolytic, angioplasty, stents, and drainage medical devices used
    in the interventional radiology marketplace.


                                      -13-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

                     September 1, 2001 and September 2, 2000
                                   (unaudited)


NOTE L - OPERATING SEGMENTS (continued)

    The Company's chief operating  decision maker utilizes operating segment net
    earnings  (loss)  information  in assessing  performance  and making overall
    operating  decisions  and  resource   allocations.   Information  about  the
    Company's segments is as follows:

                                                      Thirteen weeks ended
                                                    ------------------------
                                                    September 1,  September 2,
                                                       2001           2000
                                                      ------         ------
                                                         (in thousands)

     Net sales to external customers
       Diagnostic products
         Contrast systems                             $ 14,847       $ 15,804
         Non-contrast systems                            6,220          6,116
                                                      --------       --------

         Total Diagnostic products                      21,067         21,920
       AngioDynamics products                            6,574          5,813
                                                      --------       --------

     Total net sales to external customers            $ 27,641       $ 27,733
                                                      ========       ========

     Intersegment net sales
       Diagnostic products                            $   --         $   --
       AngioDynamics products                              169            190
                                                      --------       --------

     Total intersegment net sales                     $    169       $    190
                                                      ========       ========

     Operating profit (loss)
       Diagnostic products                            $   (478)      $  1,227
       AngioDynamics products                              205           (550)
       Eliminations                                         (3)           (48)
                                                      --------       --------

     Total operating profit (loss)                    $   (276)      $    629
                                                      ========       ========

     Net earnings (loss)
       Diagnostic products                            $    (82)      $  1,184
       AngioDynamics products                              (27)           706
       Eliminations                                         (3)           (48)
                                                      --------       --------

     Total net earnings (loss)                        $   (112)      $  1,842
                                                      ========       ========

                                                    September 1,      June 2,
                                                       2001            2001
                                                      ------          ------
                                                         (in thousands)

     Assets
       Diagnostic products                            $107,488       $108,463
       AngioDynamics products                           17,310         16,782
       Eliminations                                    (27,949)       (27,790)
                                                      --------       --------

     Total assets                                     $ 96,849       $ 97,455
                                                      ========       ========


                                      -14-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

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


Quarters ended September 1, 2001 and September 2, 2000
------------------------------------------------------

     The Company's  quarters ended  September 1, 2001 and September 2, 2000 both
represent thirteen weeks.

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

     Segment Overview
     ----------------

     The Company  operates in two  industry  segments:  Diagnostic  products and
AngioDynamics  products. The Diagnostic products operating segment includes both
contrast systems and non-contrast systems. The AngioDynamics  products operating
segment  includes  angiographic,  image-guided  vascular  access,  thrombolytic,
angioplasty,  stents,  and drainage  medical devices used in the  interventional
radiology marketplace.

<TABLE>
<CAPTION>

                                Diagnostic   AngioDynamics   Eliminations    Total
                                ----------   -------------   ------------    -----
                                                     (in thousands)
Quarter ended September 1, 2001
-------------------------------
<S>                                <C>           <C>             <C>        <C>
   Unaffiliated customer sales     $ 21,067      $  6,574         --        $ 27,641
   Intersegment sales                  --             169        ($169)         --
   Gross profit (loss)                7,492         3,181           (3)       10,670
   Operating profit (loss)             (478)          205           (3)         (276)

Quarter ended September 2, 2000
-------------------------------

   Unaffiliated customer sales      $21,920       $ 5,813         --         $27,733
   Intersegment sales                  --             190        ($190)         --
   Gross profit (loss)                8,708         2,809          (48)       11,469
   Operating profit (loss)            1,227          (550)         (48)          629
</TABLE>

    Diagnostic Products
    -------------------

     Diagnostic  segment  operating  results for the current quarter declined by
$1,705,000  due to  decreased  sales and gross  profit and  increased  operating
expenses.  Net sales  decreased  4%, or  $853,000,  due to a decline in sales of
contrast  systems  domestically  of $405,000  and  internationally  of $552,000,
partially  offset by increased  sales of non-contrast  systems of $104,000.  The
decline in domestic sales of contrast  systems  resulted from lower demand.  The
decline in  international  sales of contrast  systems was due, in large part, to
the strength of the U.S. dollar,  which lessened the demand for export sales and
adversely  affected the translation of European,  Japanese and Canadian sales to
U.S. dollars for financial reporting purposes.  Price increases had no effect on
net sales for the current quarter. Gross profit expressed as a percentage of net
sales  declined  to 36% for the  current  quarter,  from 40% for the  comparable
quarter of the prior year due  primarily to decreased  production  throughput at
the Company's Westbury facility. Increased operating expenses of $489,000 can be
attributed,  in large part, to the  establishment of a dedicated  domestic sales
force  for  the   Company's   electromechanical   injector  line  and  increased
administrative and research and development expenses.  Last year's first quarter
included an asset impairment charge of $450,000 for acquired patent rights to an
oral magnetic resonance imaging contrast agent.


                                      -15-
<PAGE>

     AngioDynamics Products
     ----------------------

     AngioDynamics segment operating results improved by $755,000 in the current
quarter as a result of the Company  recognizing a loss on sale of  AngioDynamics
Ltd.  and  related  assets of $872,000  in the  comparable  period of last year.
Excluding  the  effect  of the loss on  sale,  AngioDynamics  segment  operating
results  declined by $117,000 due to  increased  operating  expenses,  partially
offset by increased sales and improved gross profit. Net sales increased 13%, or
$761,000,  due  primarily to increased  sales of  image-guided  vascular  access
products, stents and angioplasty products in the domestic marketplace, partially
offset  by a  decline  in  international  sales  resulting,  in  part,  from the
Company's exit from the cardiovascular  market in the first quarter of the prior
year. Gross profit expressed as a percentage of net sales improved  slightly for
the current quarter as compared to the comparable  quarter of the prior year due
primarily to reduced manufacturing overhead costs resulting from the sale of the
Irish  facility  in  the  first  quarter  of  the  prior  year.   Excluding  the
aforementioned loss on sale, operating expenses increased $489,000 due, in large
part, to an expansion of the domestic sales force.

     Consolidated Results of Operations
     ----------------------------------

     For the quarter ended September 1, 2001, the Company reported a net loss of
$112,000,  or ($.01)  per common  share on both a basic and  diluted  basis,  as
compared to net earnings of  $1,842,000,  or $.19 and $.18 per common share on a
basic and diluted basis,  respectively,  for the comparable period of last year.
Results for the current  quarter were adversely  affected by decreased sales and
gross profit and increased operating expenses in the Diagnostic segment. For the
comparable  quarter  of the  prior  year,  several  factors  combined  to have a
favorable  effect on net  earnings of $418,000,  or $.04 per basic  share.  Last
year's  results  included the  Company's  reversal of a portion of its valuation
allowance  against  certain  domestic income tax benefits  totaling  $1,344,000.
Continued and projected future  profitability of the Company's U.S.  operations,
including  those of  AngioDynamics,  made it more likely  than not that  certain
deferred tax assets would be realized through future taxable earnings. Partially
offsetting this was the loss on sale of AngioDynamics Ltd. and related assets of
$872,000 and the Diagnostic asset impairment charge of $450,000.

     Net sales for the quarter ended  September 1, 2001  decreased  $92,000,  as
compared to the quarter  ended  September 2, 2000.  Decreased  sales of contrast
systems of $957,000 were virtually  offset by increased  sales of  AngioDynamics
products of $761,000 and non-contrast systems of $104,000.  The decline in sales
of contrast systems was experienced both domestically and  internationally.  The
domestic  sales  decline  resulted from lower demand.  The  international  sales
decline was due,  in large  part,  to the  strength  of the U.S.  dollar,  which
lessened the demand for export sales and adversely  affected the  translation of
European,  Japanese and Canadian sales to U.S.  dollars for financial  reporting
purposes.  The  increase  in  sales  of  AngioDynamics  products  resulted  from
increased sales of image-guided vascular access products, stents and angioplasty
products in the domestic marketplace. Price increases had no effect on net sales
for the current quarter.

     Net sales in international markets, including direct exports from the U.S.,
decreased 13%, or $1,113,000, for the current quarter from the comparable period
of  last  year  due  to  decreased  sales  of  contrast   systems  of  $552,000,
AngioDynamics  products of $476,000  and  non-contrast  systems of $85,000.  The
decline in sales of contrast  systems was due, in large part, to the strength of
the U.S.  dollar,  which  lessened  the demand for  export  sales and  adversely
affected  the  translation  of European,  Japanese  and  Canadian  sales to U.S.
dollars for  financial  reporting  purposes.  The lower  sales of  AngioDynamics
products  resulted,  in part,  from the Company's  exit from the  cardiovascular
market in the first quarter of the prior year.


                                      -16-
<PAGE>

     Gross profit  expressed as a percentage  of net sales  decreased to 39% for
the current quarter from 41% for the comparable quarter of the prior year due to
reduced gross profit in the  Diagnostic  segment,  partially  offset by improved
gross  profit in the  AngioDynamics  segment.  The decline in  Diagnostic  gross
profit expressed as a percentage of net sales resulted  primarily from decreased
production   throughput  at  the  Company's  Westbury  facility.   The  improved
AngioDynamics  gross  profit  expressed  as a  percentage  of net  sales was due
primarily to reduced manufacturing overhead costs resulting from the sale of the
Irish facility in the first quarter of the prior year.

     Selling and administrative ("S&A") expenses were $9,465,000 for the quarter
ended  September 1, 2001 compared to $8,696,000 for the quarter ended  September
2, 2000.  This increase of $769,000,  or 9%, for the current  quarter was due to
increased  AngioDynamics  S&A expenses of $513,000 and increased  Diagnostic S&A
expenses of $256,000.  Increased  AngioDynamics S&A expenses resulted,  in large
part,  from an expansion of its domestic sales force.  Increased  Diagnostic S&A
expenses was due primarily to the  establishment  of a dedicated  domestic sales
force  for  the   Company's   electromechanical   injector  line  and  increased
administrative  expenses.  Last year's first quarter included the aforementioned
asset impairment charge of $450,000.

     Research and development ("R&D") expenditures increased 16% for the current
quarter to $1,481,000,  or 5% of net sales, from $1,272,000, or 5% of net sales,
for the comparable  quarter of the prior year due to increased spending relating
to the Company's  electromechanical  injector line. Of the R&D  expenditures for
the current quarter,  approximately  47% relate to non-contrast  systems,  which
includes the Company's  electromechanical  injector line,  24% to  AngioDynamics
projects,  9% to  contrast  systems,  4% to other  projects  and 16% to  general
regulatory  costs.  R&D  expenditures  are expected to continue at approximately
current levels.

     Other income,  net of other  expenses,  totaled  $202,000 of income for the
current quarter compared to $173,000 of income for the comparable period of last
year.  This increase was due  primarily to an  improvement  in foreign  currency
exchange  gains and losses of $99,000,  partially  offset by decreased  interest
income of $71,000 resulting, in part, from lower interest rates.

     For the quarter ended September 1, 2001, the Company reported an income tax
provision of $38,000 against a loss before income taxes of $74,000 due primarily
to non-deductible expenses. For the quarter ended September 2, 2000, the Company
reported an income tax benefit of  $1,040,000  against  earnings  before  income
taxes of $802,000 due primarily to the fact that the Company  reversed a portion
of its  valuation  allowance  against  certain  domestic tax  benefits  totaling
$1,344,000.  Continued and projected future  profitability of the Company's U.S.
operations, including those of AngioDynamics,  made it more likely than not that
certain deferred tax assets would be realized through future taxable earnings.

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

     For the quarter ended September 1, 2001,  capital  expenditures were funded
by cash provided by  operations.  The Company's  policy has been to fund capital
requirements  without  incurring  significant  debt. At September 1, 2001,  debt
(notes  payable,  current  maturities of long-term debt and long-term  debt) was
$1,493,000 as compared to $1,418,000 at June 2, 2001.  The Company has available
$1,290,000  under a bank line of credit of which no amounts were  outstanding at
September 1, 2001.

     At September 1, 2001,  approximately  66% of the Company's assets consisted
of inventories,  accounts receivable, short-term debt and equity securities, and
cash and cash  equivalents.  The  current  ratio was 5.20 to 1, with net working
capital of $55,349,000,  at September 1, 2001, as compared to a current ratio of
5.24 to 1, with net working capital of $56,184,000, at June 2, 2001.


                                      -17-
<PAGE>

     In January 1999, the Board of Directors  authorized the repurchase of up to
500,000  shares of the Company's  Class B Common Stock at an aggregate  purchase
price of up to  $2,000,000.  In October 1999,  the Board modified the program to
include the Company's  Class A Common Stock. In February 2000, the Board further
modified the program to increase  the  aggregate  purchase  price of Class A and
Class B Common Stock by an additional  $2,000,000.  As of September 1, 2001, the
Company had repurchased 44,858 shares of Class A Common Stock and 397,347 shares
of Class B Common Stock for approximately $3,084,000.

     Forward-Looking Statements
     --------------------------

     This Form 10-Q  contains  certain  forward-looking  statements  within  the
meaning  of  Section  27A of  the  Securities  Act  of  1933,  as  amended  (the
"Securities  Act"),  and Section 21E of the Securities  Exchange Act of 1934, as
amended  (the  "Exchange  Act"),  which are  intended  to be covered by the safe
harbors  created  thereby.  Words such as "expects",  "intends",  "anticipates",
"plans",  "believes",  "seeks",  "estimates",  or  variations  of such words and
similar  expressions are intended to identify such  forward-looking  statements.
Investors are cautioned that all  forward-looking  statements  involve risks and
uncertainty, including without limitation, the ability of the Company to develop
its products,  future actions by the U.S. Food and Drug  Administration or other
regulatory  agencies,  results  of pending or future  clinical  trials,  overall
economic conditions,  general market conditions,  foreign currency exchange rate
fluctuations,  the effects on pricing from group purchasing  organizations,  and
competition,   including  alternative   procedures  which  continue  to  replace
traditional  fluoroscopic  procedures.  Although the Company  believes  that the
assumptions  underlying  the  forward-looking  statements  contained  herein are
reasonable, any of the assumptions could be inaccurate, and therefore, there can
be no assurance that the  forward-looking  statements included in this Form 10-Q
will prove to be accurate. In light of the significant uncertainties inherent in
the   forward-looking   statements   included  herein,  the  inclusion  of  such
information  should not be  regarded as a  representation  by the Company or any
other person that the objectives and plans of the Company will be achieved.


Item 3.  Quantitative and Qualitative Disclosures About Market Risk
         ----------------------------------------------------------

     The  Company  is exposed to market  risk from  changes in foreign  currency
exchange rates and, to a much lesser extent,  interest rates on investments  and
financing,  which could impact results of operations and financial position. The
Company does not  currently  engage in hedging or other  market risk  management
tools.  There  have  been no  material  changes  with  respect  to  market  risk
previously disclosed in the fiscal 2001 Annual Report on Form 10-K.

     Foreign Currency Exchange Rate Risk
     -----------------------------------

     The Company's  international  subsidiaries  are  denominated  in currencies
other than the U.S.  dollar.  Since the  functional  currency  of the  Company's
international  subsidiaries is the local currency,  foreign currency translation
adjustments  are accumulated as a component of accumulated  other  comprehensive
income (loss) in stockholders' equity.  Assuming a hypothetical aggregate change
in the  foreign  currencies  versus  the U.S.  dollar  exchange  rates of 10% at
September  1, 2001,  the  Company's  assets and  liabilities  would  increase or
decrease by $2,129,000 and $577,000,  respectively,  and the Company's net sales
and  net  earnings  would  increase  or  decrease  by  $1,876,000  and  $24,000,
respectively, on an annual basis.

     The Company also maintains  intercompany balances and loans receivable with
subsidiaries  with  different  local  currencies.  These  amounts are at risk of
foreign  exchange  losses if exchange rates  fluctuate.  Assuming a hypothetical
aggregate change in the foreign currencies versus the U.S. dollar exchange rates


                                      -18-
<PAGE>

of 10% at  September  1,  2001,  results of  operations  would be  favorably  or
unfavorably impacted by approximately $611,000 on an annual basis.

     Interest Rate Risk
     ------------------

     The Company is exposed to interest  rate change market risk with respect to
its investments in tax-free  municipal  bonds in the amount of $13,840,000.  The
bonds bear interest at a floating rate established weekly. For the quarter ended
September 1, 2001, the after-tax  interest rate on the bonds  approximated 2.6%.
Each 100 basis  point  (1%)  fluctuation  in  interest  rates will  increase  or
decrease  interest  income on the bonds by  approximately  $138,000 on an annual
basis.

     As  the  Company's  principal  amount  of  fixed  interest  rate  financing
approximated  $1,493,000 at September 1, 2001, a change in interest  rates would
not materially impact results of operations or financial position.  At September
1, 2001, the Company did not maintain any variable interest rate financing.


                                      -19-
<PAGE>

                          E-Z-EM, Inc. and Subsidiaries

                           Part II: Other Information


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

(a)  Exhibits - None.
     --------

(b)  Reports on Form 8-K
     -------------------

     No reports on Form 8-K were filed  during the quarter  ended  September  1,
     2001.


                                   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.



                                          E-Z-EM, Inc.
                                         -------------------------------------
                                          (Registrant)




Date   October 16, 2001                   /s/ Anthony A. Lombardo
     --------------------                -------------------------------------
                                          Anthony A. Lombardo, President,
                                          Chief Executive Officer and Director




Date   October 16, 2001                   /s/ Dennis J. Curtin
     --------------------                -------------------------------------
                                          Dennis J. Curtin, Senior Vice
                                          President - Chief Financial Officer
                                          (Principal Financial and Chief
                                          Accounting Officer)




                                      -20-