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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-K/A

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
 OF 1934
                  For the fiscal year ended December 31, 2000
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
 ACT OF 1934
                         COMMISSION FILE NUMBER: 0-27986

                                   ITEQ, INC.

             (Exact name of registrant as specified in its charter)

        DELAWARE                                         41-1667001
  (State or other jurisdiction                        (I.R.S. Employer
of incorporation or organization)                     Identification No.)

               2727 ALLEN PARKWAY, SUITE 760, HOUSTON, TEXAS 77019
               (Address of principal executive offices) (zip code)
               Registrant's telephone number, including area code:
                                  713-285-2700

               SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF
                                    THE ACT:

                                      None

           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

                                                       NAME OF EACH EXCHANGE
             TITLE OF EACH CLASS                        ON WHICH REGISTERED

         Common Stock, $.001 par value                 Nasdaq National Market
         Preferred Stock Purchase Rights               Nasdaq National Market

     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 :

     Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.

     Aggregate market value of the voting stock held by nonaffiliates of the
registrant as of April 3, 2001 was $792,525. As of April 3, 2001, there were
28,304,465 shares of the registrant's Common Stock, $.001 par value,
outstanding.

     Documents incorporated by reference. Certain portions of the registrant's
definitive Proxy Statement for the 2001 Annual Meeting of Shareholders ("Proxy
Statement") are incorporated in Part III by reference.


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                                   SIGNATURES

    Pursuant to the requirements of Section 13 or 15(d) 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, on the 13th day of
April, 2001.

    ITEQ, Inc. (Registrant)

    By:  /s/ WILLIAM P. REID
         ------------------------------
    William P. Reid
    Chief Executive Officer, President and Secretary

    Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed by the following persons on behalf of the registrant and
in the capacities indicated and on the 13th day of April, 2001.

              SIGNATURE                                    TITLE
              ---------                                    -----
    /s/ WILLIAM P. REID                 Chief  Executive  Officer,   President
    ----------------------------        and Secretary
    William P. Reid

    /s/ THOMAS N. AMONETT
    ----------------------------        Director
    Thomas N. Amonett


    ----------------------------        Director
    Pierre S. Melcher

    /s/ ROY RIMMER
    ----------------------------        Director
    Roy Rimmer

    /s/ DOUGLAS R. HARRINGTON JR.       Vice  President  and  Chief  Financial
    ----------------------------        Officer
    Douglas R. Harrington Jr.


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                                     PART IV

ITEM 14. FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULES, EXHIBITS AND
REPORTS ON FORM 8-K

         (a)(1) AND (2) FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULES

         See "Index to Financial Statements" set forth on page F-1.

         (a)(3) EXHIBITS

EXHIBIT
NUMBER                                DESCRIPTION

3.1      - Amended and Restated Certificate of Incorporation of the Registrant.
           (Filed as Appendix E to the Joint Proxy Statement/Prospectus of the
           Registrant and Astrotech on October 3, 1997 and incorporated herein
           by reference).

3.2      - Amended and Restated Bylaws of the Registrant. (Filed as an exhibit
           to Form 10-Q for the quarter ended September 30, 1997 and
           incorporated herein by reference).

4.1      - See Exhibits 3.1 and 3.2 for provisions of the Certificate of
           Incorporation and Bylaws of the Registrant defining the rights of
           holders of Common Stock.

4.2      - Second Amendment to Revolving Credit Agreement, dated as of December
           14, 1998, among the Registrant, the Guarantors and various lending
           institutions including BankBoston, N.A., as gent, and Deutsche Bank
           AG, as Documentation Agent (Filed as an exhibit to Form 8-K filed
           December 22, 1998 and incorporated herein by reference).

4.3      - First Amendment to Rights Agreement effective November 19, 1998
           between the Registrant and Harris Trust and Savings Bank, as Rights
           Agent. (Filed as an exhibit to Form 8-K filed November 20, 1998 and
           incorporated herein by reference).


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EXHIBIT
NUMBER                                DESCRIPTION

4.4      - Rights Agreement dated as of September 4, 1998 between the Registrant
           and Harris Trust and Savings Bank, as Rights Agent, which includes as
           Exhibit C thereto the Form of Right Certificate. (Filed as an exhibit
           to Form 8-K filed September 15, 1998 and incorporated herein by
           reference).

4.5      - Revolving Credit Agreement dated as of October 28, 1997 by and among
           the Registrant, the Guarantors and various lending institutions
           including Deutsche Bank AG as Documentation Agent and BankBoston,
           N.A. as Agent. (Filed as an exhibit to Form 10-Q for the quarter
           ended September 30, 1997 and incorporated herein by reference).

4.6      - Warrant Agreement, dated November 18, 1996, between the Registrant
           and International Mezzanine Capital, B.V. ("Mezzanine"). (Filed as an
           exhibit to Form 8-K dated December 5, 1996 and incorporated herein by
           reference).

4.7      - Warrant Agreement dated November 18, 1996, between the Registrant and
           First Commerce Corporation ("First Commerce"). (Filed as an exhibit
           to Form 8-K dated December 5, 1996 and incorporated herein by
           reference).

4.8      - Registration Rights Agreement dated November 18, 1996, among the
           Registrant, Mezzanine, and First Commerce. (Filed as an exhibit to
           Form 8-K dated December 5, 1996 and incorporated herein by
           reference).

4.9      - Third Amendment to Revolving Credit Amendment, dated as of March 26,
           1999, among the Registrant, the Guarantors and various lending
           institutions including BankBoston, B.A., as Agent, and Deutsche Bank
           AG, as Documentation Agent. (Filed as an exhibit to Form 10-Q/A for
           the quarter ended September 30, 1999 and incorporated herein by
           reference).

4.10     - Fourth Amendment to Revolving Credit Agreement, dated as of June 16,
           1999, among the Registrant, the Guarantors and various lending
           institutions including BankBoston, N.A., as Agent, and Deutsche Bank
           AG, as Documentation Agent. (Filed as an exhibit to Form 10-Q/A for
           the quarter ended September 30, 1999 and incorporated herein by
           reference).

4.11     - Fifth Amendment to Revolving Credit Agreement, dated as of July 30,
           1999, among the Registrant, the Guarantors and various lending
           institutions including BankBoston, N.A., as Agent, and Deutsche Bank
           AG, as Documentation Agent. (Filed as an exhibit to Form 10-Q/A for
           the quarter ended September 30, 1999 and incorporated herein by
           reference).

4.12     - Sixth Amendment and Limited Waiver to Revolving Credit Agreement,
           dated as of September 3, 1999, among the Registrant, the Guarantors
           and various lending institutions including BankBoston, N.A., as
           Agent, and Deutsche Bank AG, as Documentation Agent. (Filed as an
           exhibit to Form 10-Q/A for the quarter ended September 30, 1999 and
           incorporated herein by reference).

4.13     - Limited Waiver Regarding Disposition of Certain Assets and Certain
           Financial Covenants for the Revolving Credit Agreement, dated as of
           September 30, 1999, among the Registrant, the Guarantors and various
           lending institutions including BankBoston, N.A., as Agent, Deutsche
           Bank AG, as Documentation Agent. (Filed as an exhibit to Form 10-Q/A
           for the quarter ended September 30, 1999 and incorporated herein by
           reference).

4.14     - Seventh Amendment to Revolving Credit Agreement, dated as of November
           15, 1999, among the Registrant, the Guarantors and various lending
           institutions including BankBoston, N.A., as Agent, and Deutsche Bank
           AG, as Documentation Agent. (Filed as an exhibit to Form 10-Q/A for
           the quarter ended September 30, 1999 and incorporated herein by
           reference).

4.15     - Limited Waiver for the Revolving Disposition of Certain Assets for
           the Revolving Credit Agreement, dated as of November 23, 1999, among
           the Registrant, the Guarantors and various lending institutions
           including BankBoston, N.A., as Agent, and Deutsche Bank AG, as
           Documentation Agent. (Filed as an exhibit to Form 10-K for the year
           ended December 31, 1999 and incorporated herein by reference).


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EXHIBIT
NUMBER                                DESCRIPTION

4.16     - Limited Waiver for the Revolving Credit Agreement, dated as of
           December 10, 1999 among the Registrant, the Guarantors and various
           lending institutions including BankBoston, N.A. as Agent, and
           Deutsche Bank as Documentation Agent. (Filed as an exhibit to
           Form 10-K for the year ended December 31, 1999 and incorporated
           herein by reference).

4.17     - Limited Waiver Regarding Certain Covenants and Disposition of Certain
           Assets for the Revolving Credit Agreement, dated as of January 24,
           2000, among the Registrant, the Guarantors and various lending
           institutions including BankBoston, N.A. as Agent, and Deutsche Bank
           AG, as Documentation Agent. (Filed as an exhibit to Form 10-K for
           the year ended December 31, 1999 and incorporated herein by
           reference).

4.18     - Limited Waiver and Eight Amendment to the Revolving Credit Agreement,
           dated as of April 3, 2000, among the Registrant, the Guarantors and
           various lending institutions including Fleet National Bank (f/k/a/
           BankBoston, N.A.), as Agent, and Deutsche Bank AG, as Documentation
           Agent. (Filed as an exhibit to Form 10-K for the year ended December
           31, 1999 and incorporated herein by reference).

4.19     - Limited Waiver and Ninth Amendment to the Revolving Credit Agreement,
           dated as of July 7, 2000, among the Registrant, the Guarantors and
           various lending institutions including Fleet National Bank (f/k/a/
           BankBoston, N.A.), as Agent, and DeustchelBank AG, as Documentation
           Agent. (Filed as an exhibit to Form 10-Q for the quarter ended
           June 30, 2000 and incorporated herein by reference).

*4.20    - Limited Waiver to Revolving Credit Agreement, dated March 13, 2001
           among the Registrant, the Guarantors and various lending
           institutions, including Fleet National Bank (f/k/a BankBoston N.A.)
           as agent and Deutsche Bank as Documentation Agent.

10.1     - Plan and Agreement of Merger dated as of June 30, 1997, by and
           between the Registrant and Astrotech International Corporation
           ("Astrotech"). (Filed as Appendix A to the Joint Proxy
           Statement/Prospectus of the Registrant and Astrotech on October 3,
           1997 and incorporated herein by reference).

10.2     - Stock Purchase Agreement dated as of April 30, 1997, by and between
           Jared A. Trussler, Ray E. Crosno and Leslie D. Scott ("Sellers") and
           Astrotech (predecessor-in-interest to the Registrant). (Filed as an
           exhibit to Form 8-K of Astrotech dated as of May 14, 1997 and
           incorporated herein by reference).

10.3     - Stock Purchase Agreement, dated April 24, 1997, among the owners of
           Exell, Inc. ("Exell") and the Registrant. (Filed as an exhibit to
           Amendment No. 2 to the Registrant's Registration Statement on Form
           S-2 (No. 333-23245) and incorporated herein by reference).

10.4     - First and Second Amendment to Exell Stock Purchase Agreement among
           the owners of Exell and the Registrant. (Filed as an exhibit to Form
           10-Q for the quarter ending June 30, 1997 and incorporated herein by
           reference).

10.5     - Amendment No. 2, as of February 28, 1997, to the Stock Purchase
           Agreement dated February 7, 1994, by and among Astrotech
           (predecessor-in-interest to the Registrant), Brown-Minneapolis Tank &
           Fabricating Company ("BMT") and Irwin Jacobs. (Filed as an exhibit to
           Form 10-Q for the quarter ended March 31, 1997 of Astrotech and
           incorporated herein by reference).

10.6     - Purchase and Sale Agreement, dated as of the Effective Date (as
           defined therein), between Babel, Miller & Blackwell Partnership (the
           "Partnership") and the Registrant. (Filed as an exhibit to Form 8-K
           dated August 28, 1997 and incorporated herein by reference).


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EXHIBIT
NUMBER                                DESCRIPTION

10.7     - First Amendment to Purchase and Sale Agreement, effective August 13,
           1997, among the Partnership, Beaumont Franklin Street Properties,
           L.L.C. ("BFSP"), Neches Street Properties, L.L.C. ("NSP") and the
           Registrant. (Filed as an exhibit to Form 8-K dated August 28, 1997
           and incorporated herein by reference).

10.8     - Agreement dated January 29, 1999 between the Registrant and William
           P. Reid. (Filed as an exhibit to Form 10-K for the year ended
           December 31, 1999 and incorporated herein by reference).

10.9     - First Amendment to Employment Agreement Between William P. Reid and
           ITEQ, Inc. dated March 20, 2000. (Filed as an exhibit to Form 10-K
           for the year ended December 31, 1999 and incorporated herein by
           reference).

10.10    - Employment Agreement dated June 30, 1999 for Mark E. Johnson. (Filed
           as an exhibit to Form 10-Q for the quarter ended June 30, 1999 and
           incorporated herein by reference).

10.11    - Agreement dated May 1, 2000 between the Registrant and Douglas R.
           Harrington, Jr. (filed as an exhibit to Form 10-Q for the quarter
           ended June 30, 2000 and incorporated hereby by reference).

10.12    - Employees Stock Purchase Plan, as amended, dated December 15, 1994.
           (Filed as an exhibit to Form 10-K for year ended December 31, 1994
           and incorporated herein by reference).

10.13    - Director Stock Option Plan, as amended. (Plan filed as an exhibit to
           Proxy Statement for Annual Meeting of Stockholders held on June 29,
           1995, and amendment filed as an exhibit to Form 10-Q for the quarter
           ended June 30, 1996 both of which are incorporated herein by
           reference).

10.14    - Amended and Restated ITEQ 1990 Stock Option Plan. (Filed as Appendix
           D to Joint Proxy Statement/Prospectus of the Registrant and Astrotech
           on October 3, 1997 and incorporated herein by reference).

10.15    - 1984 Stock Option Plan. (Filed as an exhibit to Astrotech's
           Registration Statement on Form S-8 (No. 33-3360) and incorporated
           herein by reference).

10.16    - 1989 Stock Incentive Plan. (Filed as an exhibit to Astrotech's
           Registration Statement on Form S-8 (No. 33-2975) and incorporated
           herein by reference).

10.17    - The 1994 Stock Option Plan for the Employees of BMT. (Filed as an
           exhibit to Astrotech's Registration Statement on Form S-8 (No.
           33-85106) and incorporated herein by reference).

10.18    - 1995 Non-Employee Directors' Stock Option Plan. (Filed as an exhibit
           to Astrotech's Proxy Statement of Astrotech for the Annual Meeting of
           Shareholders filed on or about April 10, 1995).

10.19    - Lease, dated August 13, 1997 among Beaumont Franklin Street
           Properties, L.L.C., Neches Street Properties, L.L.C. and Exell.
           (Filed as an exhibit to Form 8-K dated August 28, 1997 and
           incorporated herein by reference).

10.20    - Lease Agreement dated May 25, 1994, between Halligan and Labbe
           Enterprises, L.L.C. and Amerex Industries, Inc. (Filed as an exhibit
           to Form 10-K for the year ended December 31, 1994 and incorporated
           herein by reference).

10.21    - License and Technical Assistance Agreement dated August 28, 1991,
           between Interel Environmental Technologies, Inc. and Heinrich Luhr
           Staubtechnik GmbH & Co. (Filed as an exhibit to Form S-1
           (No. 33-44205) and incorporated herein by reference).

10.22    - Asset Purchase Agreement between HMT, Inc., as Buyer, ITEQ, Inc., as
           Parent and ITEQ Storage Systems, Inc., ITEQ Construction Services,
           Inc. and ITEQ Tank Services, Inc., as Sellers, dated January 28,
           2000. (Filed as an exhibit to Form 10-K for the year ended
           December 31, 1999 and incorporated herein by reference).


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EXHIBIT
NUMBER                                DESCRIPTION

10.23    - First Amendment to Asset Purchase Agreement between HMT, Inc., as
           Buyer, ITEQ, Inc., as Parent and ITEQ Storage Systems, Inc., ITEQ
           Construction Services, Inc. and ITEQ Tank Services, Inc., as Sellers,
           dated March 13, 2000. (Filed as an exhibit to Form 10-K for the year
           ended December 31, 1999 and incorporated herein by reference).

23.1     - Consent of Arthur Andersen LLP. (Filed as an exhibit to Form 10-K
           for the year ended December 31, 2000 and incorporated herein by
           reference).

*  Filed herewith.

(b) REPORTS ON FORM 8-K

         The Company did not file any reports on Form 8-K during the fourth
quarter of 2000.


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