----

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| x | Quarterly      Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of      1934 for the Quarterly Period Ended March 31,  2008 |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------|

| o | Transition      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934 for the Transition Period    from    to |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Atrion      Corporation                                             |
|---------------------------------------------------------------------|
| (Exact      Name of Registrant as Specified in its Charter)         |
|                                                                |   |   |
| Delaware                                                            |   | 63-0821819 |
| (State      or Other Jurisdiction of Incorporation or Organization) |   | (I.R.S.      Employer Identification No.) |

| Large      accelerated filer  o | Accelerated      filer  x | Non-accelerated      filer  o | Smaller      reporting company  o |
|-------------------------------------------|--------------------------------|------------------------------------|----------------------------------------|

| Title      of Each Class                     |   | Number      of Shares Outstanding atApril      30, 2008 |
|----------------------------------------------|--------|---------------------------------------------------------|
| Common      stock, Par Value $0.10 per share |   | 1,960,535                                               |

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ATRIONCORPORATION AND SUBSIDIARIES

| PART I.    Financial      Information | 2                                                                                                                         |
|-----------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|
|                                                      |                                                                                                                      |
|                                                      | Item 1.         Financial Statements                                                                  |   |
|                                                      |                                                                                                                      |   |   |
|                                                      |                                                                                                                      | Consolidated Statements of Income (Unaudited) For the Three      months Ended  March 31, 2008 and 2007 | 3 |
|                                                      |                                                                                                                      |   |   |
|                                                      |                                                                                                                      | Consolidated Balance Sheets (Unaudited) March 31, 2008 and      December 31, 2007 | 4 |
|                                                      |                                                                                                                      |   |   |
|                                                      |                                                                                                                      | Consolidated Statements of Cash Flows (Unaudited) For the Three      months Ended March 31, 2008 and 2007 | 5 |
|                                                      |                                                                                                                      |   |   |
|                                                      |                                                                                                                      | Notes to Consolidated Financial Statements      (Unaudited) | 6 |
|                                                      |                                                                                                                      |   |   |
|                                                      | Item      2.    Management's Discussion and Analysis of Financial Condition and      Results of Operations | 8 |
|                                                      |                                                                                                                      |   |   |
|                                                      | Item      3.    Quantitative and Qualitative Disclosures About Market      Risk                            | 11 |
|                                                      |                                                                                                                      |   |   |
|                                                      | Item      4.    Controls and Procedures                                                                    | 11 |
|                                                      |                                                                                                                      |
| PART II.   Other Information               | 12                                                                                                                        |
|                                                      |                                                                                                                      |
|                                                      | Item      1.    Legal Proceedings                                                                          | 12 |
|                                                      |                                                                                                                      |   |   |
|                                                      | Item 1A. Risk Factors                                                                                           | 12 |
|                                                      |                                                                                                                      |   |   |
|                                                      | Item 6.         Exhibits and Reports on Form 8-K                                                      | 12 |
|                                                      |                                                                                                                      |
| SIGNATURES                                                | 13                                                                                                                        |

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Table of Contents

PART I

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Table of Contents

Item 1.    Financial Statements

ATRION CORPORATION AND SUBSIDIARIES

|                                             |   | Three      Months EndedMarch      31,               |   |
|--------------------------------------------------|--------|-----------------------------------------------------|--------|
|                                             |   | 2008                                                |   |   | 2007 |   |
|                                             |   | (in      thousands, except per share amounts)  |
| Revenues                                         |   | $                                                   | 24,602 |   |   | $ | 23,037 |   |
| Cost      of goods sold                          |   |                                                | 13,922 |   |   |   | 13,377 |   |
| Gross      profit                                |   |                                                | 10,680 |   |   |   | 9,660 |   |
| Operating      expenses:                         |   |                                                |   |   |   |   |   |   |
| Selling                                          |   |                                                | 1,699  |   |   |   | 1,651 |   |
| General      and administrative                  |   |                                                | 2,740  |   |   |   | 2,616 |   |
| Research      and development                    |   |                                                | 787    |   |   |   | 656 |   |
|                                             |   |                                                | 5,226  |   |   |   | 4,923 |   |
|                                             |   |                                                |   |   |   |   |   |   |
| Operating      income                            |   |                                                | 5,454  |   |   |   | 4,737 |   |
| Other      income:                               |   |                                                |   |   |   |   |   |   |
| Interest      income                             |   |                                                | 36     |   |   |   | 9 |   |
| Interest      expense                            |   |                                                | --     |   |   |   | (141 | ) |
|                                             |   |                                                | 36     |   |   |   | (132 | ) |
|                                             |   |                                                |   |   |   |   |   |   |
| Income      before provision for income taxes    |   |                                                | 5,490  |   |   |   | 4,605 |   |
| Provision      for income taxes                  |   |                                                | (1,834 | ) |   |   | (1,469 | ) |
|                                             |   |                                                |   |   |   |   |   |   |
| Net      income                                  |   | $                                                   | 3,656  |   |   | $ | 3,136 |   |
|                                             |   |                                                |   |   |   |   |   |   |
| Income      per basic share                      |   | $                                                   | 1.89   |   |   | $ | 1.68 |   |
| Weighted      average basic shares outstanding   |   |                                                | 1,937  |   |   |   | 1,872 |   |
|                                             |   |                                                |   |   |   |   |   |   |
| Income      per diluted share                    |   | $                                                   | 1.83   |   |   | $ | 1.59 |   |
| Weighted      average diluted shares outstanding |   |                                                | 2,003  |   |   |   | 1,975 |   |
|                                             |   |                                                |   |   |   |   |   |   |
| Dividends      per common share                  |   | $                                                   | 0.24   |   |   | $ | 0.20 |   |

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ATRION CORPORATION AND SUBSIDIARIES

|                                                                                              |   | March      31,      |    |   | December 31, |   |
|---------------------------------------------------------------------------------------------------|--------|---------------------|---------|--------|-------------------|--------|
| Assets                                                                                            |   | 2008                |    |   | 2007              |   |
|                                                                                              |   | (in      thousands) |    |
| Current      assets:                                                                              |   |                |    |   |              |   |
| Cash      and cash equivalents                                                                    |   | $                   | 5,270   |   |              | $      | 3,531 |   |
| Accounts      receivable                                                                          |   |                | 12,270  |   |              |   | 9,601 |   |
| Inventories                                                                                       |   |                | 17,977  |   |              |   | 17,387 |   |
| Prepaid      expenses                                                                             |   |                | 771     |   |              |   | 1,483 |   |
| Other                                                                                             |   |                | 607     |   |              |   | 607 |   |
|                                                                                              |   |                | 36,895  |   |              |   | 32,609 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
|                                                                                              |   |                |    |   |              |   |   |   |
| Property,      plant and equipment                                                                |   |                | 91,749  |   |              |   | 89,736 |   |
| Less      accumulated depreciation and amortization                                               |   |                | 36,797  |   |              |   | 35,686 |   |
|                                                                                              |   |                | 54,952  |   |              |   | 54,050 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
| Other      assets and deferred charges:                                                           |   |                |    |   |              |   |   |   |
| Patents                                                                                           |   |                | 1,932   |   |              |   | 2,011 |   |
| Goodwill                                                                                          |   |                | 9,730   |   |              |   | 9,730 |   |
| Other                                                                                             |   |                | 956     |   |              |   | 913 |   |
|                                                                                              |   |                | 12,618  |   |              |   | 12,654 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
|                                                                                              |   | $                   | 104,465 |   |              | $      | 99,313 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
|                                                                                              |   |                |    |   |              |   |   |   |
| Liabilities and      Stockholders’ Equity                                                   |   |                |    |   |              |   |   |   |
| Current      liabilities:                                                                         |   |                |    |   |              |   |   |   |
| Accounts      payable and accrued liabilities                                                     |   | $                   | 7,581   |   |              | $      | 6,349 |   |
| Accrued      income and other taxes                                                               |   |                | 28      |   |              |   | 515 |   |
|                                                                                              |   |                | 7,609   |   |              |   | 6,864 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
| Line      of credit                                                                               |   |                | --      |   |              |   | -- |   |
|                                                                                              |   |                |    |   |              |   |   |   |
| Other      non-current liabilities                                                                |   |                | 7,017   |   |              |   | 7,007 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
| Stockholders’      equity:                                                                  |   |                |    |   |              |   |   |   |
| Common      shares, par value $0.10 per share; authorized 10,000 shares, issued 3,420      shares |   |                | 342     |   |              |   | 342 |   |
| Paid-in      capital                                                                              |   |                | 18,445  |   |              |   | 15,790 |   |
| Accumulated      other comprehensive loss                                                         |   |                | (486    | )      |              |   | (486 | ) |
| Retained      earnings                                                                            |   |                | 107,205 |   |              |   | 104,021 |   |
| Treasury      shares,1,459 at March 31, 2008 and 1,509 at December 31, 2007, at      cost         |   |                | (35,667 | )      |              |   | (34,225 | ) |
| Total      stockholders’ equity                                                             |   |                | 89,839  |   |              |   | 85,442 |   |
|                                                                                              |   |                |    |   |              |   |   |   |
|                                                                                              |   |                |    |   |              |   |   |   |
|                                                                                              |   | $                   | 104,465 |   |              | $      | 99,313 |   |

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ATRION CORPORATION AND SUBSIDIARIES

|                                                                                        |   | Three      months Ended |   |
|---------------------------------------------------------------------------------------------|--------|-------------------------|--------|
|                                                                                        |   | March31,                |   |
|                                                                                        |   | 2008                    |   |   | 2007 |   |
|                                                                                        |   | (In      thousands)     |   |
| Cash      flows from operating activities:                                                  |   |                    |   |   |   |   |
| Net      income                                                                             |   | $                       | 3,656  |   |   | $ | 3,136 |   |
| Adjustments      to reconcile net income to net      cash provided by operating activities: |   |                    |   |   |   |   |   |   |
| Depreciation      and amortization                                                          |   |                    | 1,497  |   |   |   | 1,305 |   |
| Deferred      income taxes                                                                  |   |                    | 134    |   |   |   | 67 |   |
| Stock-based      compensation                                                               |   |                    | 113    |   |   |   | 55 |   |
| Other                                                                                       |   |                    | 37     |   |   |   | -- |   |
|                                                                                        |   |                    | 5,437  |   |   |   | 4,563 |   |
|                                                                                        |   |                    |   |   |   |   |   |   |
| Changes      in operating assets and liabilities:                                           |   |                    |   |   |   |   |   |   |
| Accounts      receivable                                                                    |   |                    | (2,668 | ) |   |   | (536 | ) |
| Inventories                                                                                 |   |                    | (590   | ) |   |   | (93 | ) |
| Prepaid      expenses                                                                       |   |                    | 789    |   |   |   | 1,000 |   |
| Other      non-current assets                                                               |   |                    | (43    | ) |   |   | (91 | ) |
| Accounts      payable and current liabilities                                               |   |                    | 1,232  |   |   |   | 350 |   |
| Accrued      income and other taxes                                                         |   |                    | (486   | ) |   |   | 1,161 |   |
| Other      non-current liabilities                                                          |   |                    | (124   | ) |   |   | -- |   |
| Net      cash provided by continuing operations                                             |   |                    | 3,547  |   |   |   | 6,354 |   |
|                                                                                        |   |                    |   |   |   |   |   |   |
| Cash      flows from investing activities:                                                  |   |                    |   |   |   |   |   |   |
| Property,      plant and equipment additions                                                |   |                    | (2,357 | ) |   |   | (1,478 | ) |
|                                                                                        |   |                    |   |   |   |   |   |   |
| Cash      flows from financing activities:                                                  |   |                    |   |   |   |   |   |   |
| Line      of credit advances                                                                |   |                    | --     |   |   |   | 6,104 |   |
| Line      of credit repayments                                                              |   |                    | --     |   |   |   | (11,001 | ) |
| Exercise      of stock options                                                              |   |                    | 497    |   |   |   | 204 |   |
| Taxes      paid on cashless exercise of stock options                                       |   |                    | (870   | ) |   |   | -- |   |
| Tax      benefit related to stock options                                                   |   |                    | 1,393  |   |   |   | 168 |   |
| Dividends      paid                                                                         |   |                    | (471   | ) |   |   | (377 | ) |
|                                                                                        |   |                    | 549    |   |   |   | (4,902 | ) |
|                                                                                        |   |                    |   |   |   |   |   |   |
| Net      change in cash and cash equivalents                                                |   |                    | 1,739  |   |   |   | (26 | ) |
| Cash      and cash equivalents at beginning of period                                       |   |                    | 3,531  |   |   |   | 333 |   |
| Cash      and cash equivalents at end of period                                             |   | $                       | 5,270  |   |   | $ | 307 |   |
|                                                                                        |   |                    |   |   |   |   |   |   |
|                                                                                        |   |                    |   |   |   |   |   |   |
| Cash      paid for:                                                                         |   |                    |   |   |   |   |   |   |
| Interest      (net of capitalization)                                                       |   | $                       | --     |   |   | $ | 158 |   |
| Income      taxes                                                                           |   | $                       | 64     |   |   | $ | (760 | ) |

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ATRION CORPORATION AND SUBSIDIARIES

| (1) | Basis      of Presentation |
|-----|----------------------------|

| (2) | Inventories |
|-----|-------------|

|                   |   | March      31, |   |   | December      31, |   |
|------------------------|--------|----------------|--------|--------|-------------------|--------|
|                   |   | 2008           |   |   | 2007              |   |
| Raw      materials     |   | $              | 7,817  |   |              | $      | 7,452 |   |
| Work      in process   |   |           | 5,003  |   |              |   | 4,513 |   |
| Finished      goods    |   |           | 5,157  |   |              |   | 5,422 |   |
| Total      inventories |   | $              | 17,977 |   |              | $      | 17,387 |   |

| (3) | Income      per share |
|-----|-----------------------|

|                                               |   | Three      months ended                       |   |
|----------------------------------------------------|--------|-----------------------------------------------|--------|
|                                               |   | March      31,                                |   |
|                                               |   | 2008                                          |   |   | 2007 |   |
|                                               |   | (in      thousands, except per share amounts) |   |
|                                               |   |                                          |   |
| Net      Income                                    |   | $                                             | 3,656  |   |   | $ | 3,136 |   |
|                                               |   |                                          |   |   |   |   |   |   |
| Weighted      average basic shares outstanding     |   |                                          | 1,937  |   |   |   | 1,872 |   |
| Add:  Effect      of dilutive securities |   |                                          | 66     |   |   |   | 103 |   |
| Weighted      average diluted shares outstanding   |   |                                          | 2,003  |   |   |   | 1,975 |   |
|                                               |   |                                          |   |   |   |   |   |   |
| Income      per share:                             |   |                                          |   |   |   |   |   |   |
|                                               |   |                                          |   |   |   |   |   |   |
| Basic                                              |   | $                                             | 1.89   |   |   | $ | 1.68 |   |
| Diluted                                            |   | $                                             | 1.83   |   |   | $ | 1.59 |   |

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Table of Contents

| (4) | Pension      Benefits |
|-----|-----------------------|

|                                 |   | Three      Months endedMarch      31, |   |
|--------------------------------------|--------|---------------------------------------|--------|
|                                 |   | 2008                                  |   |   | 2007 |   |
| Service      cost                    |   | $                                     | --     |   |   | $ | 65 |   |
| Interest      cost                   |   |                                  | 56     |   |   |   | 80 |   |
| Expected      return on assets       |   |                                  | (55    | ) |   |   | (123 | ) |
| Prior      service cost amortization |   |                                  | --     |   |   |   | (9 | ) |
| Actuarial      loss                  |   |                                  | 8      |   |   |   | 15 |   |
|                                 |   |                                  |   |   |   |   |   |   |
| Net      periodic pension cost       |   | $                                     | 9      |   |   | $ | 28 |   |

| (5) | Recent      Accounting Pronouncements |
|-----|---------------------------------------|

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Table of Contents

| Item 2. | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations |
|---------|-------------------------------------------------------------------------------------------------------|

|   | · | Focusing      on customer needs; |
|--------|--------|----------------------------------|

|   | · | Expanding      existing product lines and developing new  products; |
|--------|--------|---------------------------------------------------------------------|

|   | · | Maintaining      a culture of controlling cost; and |
|--------|--------|-----------------------------------------------------|

|   | · | Preserving      and fostering a collaborative, entrepreneurial management      structure. |
|--------|--------|-------------------------------------------------------------------------------------------|

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Table of Contents

|                |   | Three      Months endedMarch      31, |   |
|---------------------|--------|---------------------------------------|--------|
|                |   | 2008                                  |   |   | 2007 |   |
|                |   |                                  |   |   |   |   |
| Fluid      Delivery |   | $                                     | 8,249  |   |   | $ | 7,215 |   |
| Cardiovascular      |   |                                  | 7,467  |   |   |   | 6,051 |   |
| Ophthalmology       |   |                                  | 3,779  |   |   |   | 4,654 |   |
| Other               |   |                                  | 5,107  |   |   |   | 5,117 |   |
| Total               |   | $                                     | 24,602 |   |   | $ | 23,037 |   |

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Table of Contents

| Item 3. | Quantitative      and Qualitative Disclosures About MarketRisk |
|---------|----------------------------------------------------------------|

| Item 4. | Controls      and Procedures |
|---------|------------------------------|

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Table of Contents

PART II

| Item 1. | Legal      Proceedings |
|---------|------------------------|

| Item 1A. | Risk      Factors |
|----------|-------------------|

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

|   | (a) | Exhibits |
|--------|-----|----------|

| 10.1   | Deferred      Compensation Plan For Non-Employee Directors (As amended and restated as      of March 5, 2008)                            |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                     |
| 31.1   | Sarbanes-Oxley      Act Section 302 Certification of Chief ExecutiveOfficer                                                              |
|   |                                                                                                                                     |
| 31.2   | Sarbanes-Oxley      Act Section 302 Certification of Chief FinancialOfficer                                                              |
|   |                                                                                                                                     |
| 32.1   | Certification      Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of      The Sarbanes – Oxley Act Of 2002 |
|   |                                                                                                                                     |
| 32.2   | Certification      Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of      The Sarbanes – Oxley Act Of 2002 |

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

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SIGNATURES

| Date:  May      8, 2008 | /s/ Emile A. Battat |
|-----------------------------------|-------------------------------|
|                              | Emile A. Battat     |
|                              | Chairman      and             |
|                              | Chief      Executive Officer  |
|                              |                          |
|                              |                          |
| Date:  May      8, 2008 | /s/ Jeffery Strickland        |
|                              | Jeffery      Strickland       |
|                              | Vice      President and       |
|                              | Chief      Financial Officer  |

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