SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 20549

                                 FORM 10-Q

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

             For the quarterly period ended September 30, 1997

                       Commission File Number:  1-13427



                          SECURACOM, INCORPORATED

State of Incorporation:  Delaware             I.R.S. Employer I.D.:  22-2817302

                                50 Tice Boulevard
                        Woodcliff Lake, New Jersey  07675
                                 (201) 930-9500


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 twelve months (or for such shorter periods that the registrant was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past ninety days.


          Yes                          No            X *


*   The registrant  became subject to the filing  requirements of the Securities
    Exchange Act of 1934 on October 1, 1997.

There  were  5,834,140  shares  of Common  Stock,  par  value  $0.01 per  share,
outstanding at October 30, 1997.


<PAGE>



SECURACOM, INCORPORATED

Quarter ended September 30, 1997

Index
--------------------------------------------------------------------------------

                                                                          Page

Part I.  Financial information

   Item 1.  Financial Statements............................................3

      Balance Sheets as of December 31, 1996 and September 30, 1997
      (unaudited)...........................................................3

      Statements of Operations for the three and nine months
      ended September 30, 1996 and 1997 (unaudited).........................4

      Statements of Cash Flows for the nine months ended
      September 30, 1996 and 1997 (unaudited)...............................5

      Notes to Financial Statements.........................................6

   Item 2.  Management's Discussion and Analysis of
             Financial Condition and Results of Operations..................8

Part II.  Other information

   Item 2.  Changes in Securities and Use of Proceeds.......................11

   Item 6.   Exhibits and Reports on Form 8-K...............................11

   Signature................................................................12

                                                         2

<PAGE>



PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

                                   SECURACOM, INCORPORATED
                                         BALANCE SHEETS
<TABLE>
<CAPTION>

                                                                                   December 31,  September 30,
                                                                                       1996*          1997
                                                                                                   (Unaudited)
        ASSETS
<S>                                                                              <C>             <C>
Current assets:
   Cash and cash equivalents..................................................   $      609,342  $        4,730
   Accounts receivable, net of allowance for doubtful
     accounts of $42,000 in 1996 and 1997.....................................        1,777,456       2,153,866
   Costs and estimated earnings in excess of billings on
     uncompleted contracts....................................................        1,148,560       4,245,394
   Prepaid expenses and other.................................................          120,937         206,665
   Investment in SSIH, Ltd....................................................                          700,000
                                                                                 --------------  --------------
        Total currents assets.................................................        3,656,295       7,310,655
Plant and equipment, net......................................................          714,989         763,422
Deferred registration costs...................................................               --         548,385
Other assets..................................................................          195,803         212,706
                                                                                 --------------  --------------
                                                                                 $    4,567,087  $    8,835,168
                                                                                 ==============  ==============

        LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)

Current liabilities:
   Current maturities of capital lease obligations                               $       21,454  $       48,863
   Accounts payable...........................................................        2,739,271       5,279,861
   Billings in excess of costs and estimated earnings on
     uncompleted contracts....................................................          103,184          80,755
   Accrued expenses and other.................................................          641,506         895,444
                                                                                 --------------  --------------
        Total current liabilities.............................................        3,505,415       6,304,923

Long-term liabilities:
   Notes payable..............................................................        2,541,000       3,210,500
   Capital lease obligations, less current maturities                                   116,399         211,341

Stockholders' equity (deficiency):
   Common stock, $0.01 par value per share; authorized
     20,000,000 shares; issued and outstanding
     4,434,140 shares in 1996 and 1997........................................           44,341          44,341
   Additional paid-in capital.................................................       10,582,197      10,644,197
   Accumulated deficit........................................................      (12,222,265)    (11,580,134)
                                                                                    -----------     -----------
                                                                                     (1,595,727)       (891,596)
                                                                                 --------------     -----------
                                                                                 $    4,567,087  $    8,835,168
                                                                                 ==============  ==============
</TABLE>

*    Derived from audited financial statements as of December 31, 1996.

      The accompanying notes are an integral part of these statements.


                                                         3

<PAGE>



                                  SECURACOM, INCORPORATED
                                  STATEMENTS OF OPERATIONS
                                          (Unaudited)


<TABLE>
<CAPTION>
                                                        Three Months Ended              Nine Months Ended
                                                           September 30,                  September 30,
                                                        1996           1997            1996           1997
                                                   -------------   ------------   -------------  --------------
<S>                                                <C>             <C>            <C>            <C>
Earned revenues..................................  $   1,136,064   $  4,182,763   $   3,066,534  $   11,422,961
Cost of earned revenues..........................        927,333      3,006,339       2,172,916       8,216,515
                                                   -------------   ------------   -------------  --------------

     Gross profit................................        208,731      1,176,424         893,618       3,206,446

Selling, general and administrative
     expenses....................................        854,072        876,098       2,794,751       2,256,627
                                                   -------------   ------------   -------------  --------------

Operating income (loss)..........................       (645,341)       300,326      (1,901,133)        949,819

Interest and financing fees......................        (55,973)      (111,711)       (132,656)       (343,488)
Interest and other income........................          2,693         24,082           4,375          35,800
                                                   -------------   ------------   -------------  --------------

     Net income (loss)...........................  $    (698,621)  $    212,697   $  (2,029,414) $      642,131
                                                   =============   ============   =============  ==============

Weighted average common shares
     outstanding.................................      4,417,000      4,605,000       4,417,000       4,605,000
                                                   =============   ============   =============  ==============

Net income (loss) per share......................  $        (.16)  $        .05   $        (.46) $          .14
                                                   =============   ============   =============  ==============
</TABLE>


    The accompanying notes are an integral part of these statements.


                                                         4

<PAGE>



                               SECURACOM, INCORPORATED
                              STATEMENTS OF CASH FLOWS
                                     (Unaudited)
<TABLE>
<CAPTION>
                                                                                       Nine Months Ended
                                                                                         September 30,
                                                                                    1996             1997
                                                                              ---------------  ----------------
<S>                                                                           <C>              <C>
Cash flows from operating activities:
   Net income (loss).......................................................   $   (2,029,414)  $        642,131
                                                                              --------------   ----------------
Adjustments to reconcile net income (loss) to net
   cash used in operating activities:
     Depreciation and amortization.........................................            48,750            99,958
     Noncash compensation..................................................            28,000                --
     Amortization of debt discount.........................................             7,000            31,500
Changes in operating assets and liabilities:
   Accounts receivable.....................................................           252,856          (376,410)
   Costs and estimated earnings in excess of
     billings on uncompleted contracts.....................................           303,919        (3,096,834)
   Prepaid expenses and other..............................................             1,504           (85,728)
   Other assets............................................................              (821)          (16,903)
   Accounts payable........................................................           554,386         2,540,590
   Billings in excess of costs and estimated earnings
     on uncompleted contracts..............................................          (287,148)          (22,429)
   Accrued expenses and other..............................................           112,708           253,938
                                                                              ---------------  ----------------
       Total adjustments...................................................         1,021,154          (672,318)
                                                                              ---------------  ----------------
       Net cash from operating activities..................................        (1,008,260)          (30,187)
                                                                                   ----------  ----------------

Cash flows from investing activities:
   Investment in SSIH, Ltd.................................................                --          (700,000)
   Acquisition of plant and equipment......................................          (269,534)           (5,044)
                                                                              ---------------   ---------------
   Net cash used by investing activities...................................          (269,534)         (705,044)
                                                                              ---------------   ---------------

Cash flows from financing activities:
   Proceeds from notes payable.............................................           815,000           700,000
   Principal payments on notes payable--stockholder........................          (200,000)
   Principal payments of capital lease obligations.........................           (14,389)          (20,996)
   Deferred registration costs.............................................                --          (548,385)
   Proceeds from issuance of common stock and
     exercise of warrants..................................................           204,000                --
                                                                              ---------------  ----------------
   Net cash provided by financing activities...............................           824,611           130,619
                                                                              ---------------  ----------------
Net (decrease) in cash and cash equivalents................................          (453,183)         (604,612)
Cash and cash equivalents at beginning of period...........................           555,34            609,342
                                                                              ---------------  ----------------
Cash and cash equivalents at end of period.................................   $       102,162  $          4,730
                                                                              ===============  ================
</TABLE>




        The accompanying notes are an integral part of these statements.


                                                         5

<PAGE>



                             NOTES TO FINANCIAL STATEMENTS

1.  Basis of Presentation

         The unaudited  balance sheet as of September 30, 1997 and the unaudited
statements of operations  and statements of cash flows for the nine months ended
September  30, 1996 and 1997 are  condensed  financial  statements in accordance
with the  rules and  regulations  of the  Securities  and  Exchange  Commission.
Accordingly,  they omit  certain  information  included  in  complete  financial
statements and should be read in conjunction  with the financial  statements and
notes contained in a registration  statement on Form S-1 which the Company filed
with the Securities and Exchange Commission on October 1, 1997.

         In the opinion of the Company,  the unaudited  financial  statements at
September  30, 1997 and for the nine months ended  September  30, 1996 and 1997,
include  all  adjustments,  consisting  only  of  normal  recurring  adjustments
necessary  for a fair  presentation  of the  financial  position  and results of
operations  for such periods.  Results of  operations  for the nine months ended
September 30, 1997 are not necessarily  indicative of results to be expected for
the full year.

2.  Income (Loss) Per Share

         Net income  (loss) per common share is  calculated  by dividing the net
income  (loss)  by the  weighted  average  number  of  shares  of  common  stock
outstanding. Except as noted in the following paragraph, stock warrants have not
been included in the calculation as their inclusion would be antidilutive.

         Warrants  issued  for the  purchase  of shares  of  Common  Stock at an
exercise price below the initial public offering price of $8.50 per share during
the  12  months  preceding  the  date  of  the  Company's  initial  filing  of a
registration  statement with the Securities  and Exchange  Commission  have been
included in the number of weighted  average shares  outstanding  for all periods
presented calculated abased on the treasury stock method.

         The Company believes that the  implementation of Statement of Financial
Accounting Standards 128, Earnings Per Share, will not have a material impact on
the calculation of earnings per share.

3.  Costs and Estimated Earnings on Uncompleted Contracts

         Costs and estimated  earnings on  uncompleted  contracts at December 31
1996 and September  30, 1997 which are expected to be collected  within one year
are as follows;
<TABLE>
<CAPTION>

                                                                                  December 31,   September 30.
                                                                                      1996             1997
                                                                                ---------------  ---------------
<S>                                                                             <C>              <C>
Costs incurred on contracts..................................................   $    32,222,489  $    12,632,437
Estimated earnings...........................................................         3,889,963        4,359,792
                                                                                ---------------  ---------------
                                                                                     36,112,452       16,992,229
Less billings to date........................................................        35,067,076       12,827,590
                                                                                ---------------  ---------------
                                                                                $     1,045,376  $     4,164,639
                                                                                ===============  ===============
</TABLE>



                                                         6

<PAGE>



4.  Initial Public Offering

         The Company completed an initial public offering of 1,920,000 shares of
its Common Stock in October  1997,  of which  1,400,000  shares were sold by the
Company  and  520,000  shares  were sold by an  existing  shareholder.  The sale
provided net proceeds to the Company of $10.0  million.  The  underwriters  also
purchased an additional 288,000 share pursuant to their  over-allotment  option.
The stockholder  received all of the net proceeds of the sale of shares pursuant
to the over-allotment option.

         With the use of  proceeds  the  Company  repaid its  outstanding  notes
payable of $3.4 million.

5.  Investment in SSIH

         Immediately  following  the  initial  public  offering,  the  Company's
limited  partnership  interest  in SSIH was  redeemed  for  $700,000  cost  plus
interest of $23,712.





                                                         7

<PAGE>



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

         This discussion and analysis of the Company's  financial  condition and
historical  results  of  operations  should  be read  in  conjunction  with  the
condensed financial  statements and the related notes thereto included elsewhere
in this report.

Overview

         The   Company   is   a   single-source   provider   of   comprehensive,
technology-based   security  solutions  for  medium  and  large  commercial  and
government  facilities  in the United  States and abroad.  The Company  offers a
broad  range  of  services,   including:   (i)  consulting  and  planning;  (ii)
engineering  and design;  (iii) systems  integration;  and (iv)  maintenance and
technical support.

         The Company derives its revenues primarily from long-term,  fixed-price
contracts.  Earnings are  recognized  based upon the Company's  estimates of the
cost and percentage of completion of individual contracts. Earned revenues equal
the project's  total contract  amount  multiplied by the proportion  that direct
project  costs  incurred on a project bear to  estimated  total  project  costs.
Project costs include direct labor and benefits,  direct  material,  subcontract
costs, project related travel and other direct expenses.

         Clients  are  invoiced  based upon  negotiated  payment  terms for each
individual contract.  Terms usually include a 25% downpayment and the balance as
stages of the work are  completed.  Maintenance  contracts  are billed either in
advance,  monthly,  or quarterly.  As a result,  the Company records as an asset
costs and estimated  earnings in excess of billings and as a liability  billings
in excess of costs and estimated earnings.

Results of Operations

         The  following  table sets  forth the  percentages  of earned  revenues
represented  by  certain  items   reflected  in  the  Company's   statements  of
operations.



                                                         8

<PAGE>


<TABLE>
<CAPTION>

                                                                          Three Months          Nine Months
                                                                              Ended                Ended
                                                                          September 30,        September 30,
                                                                        1996       1997       1996       1997
<S>                                                                    <C>        <C>        <C>        <C>
Earned Revenues......................................................   100.0%     100.0%     100.0%     100.0%
Cost of earned revenues..............................................    81.6       71.9       70.9       71.9
                                                                       ------     ------     ------     ------
   Gross profit......................................................    18.4       28.1       29.1       28.1
Selling, general and administrative expenses.........................    75.2       21.0       91.1       19.8
                                                                       ------     ------     ------     ------
   Operating income (loss)...........................................   (56.8)       7.1      (62.0)       8.3
Interest and financing fees..........................................    (4.9)      (2.6)      (4.3)      (3.0)
Interest and other income............................................     0.2        0.6        0.1        0.3
                                                                       ------     ------     ------     ------

   Net income (loss).................................................   (61.5)%      5.1%     (66.2)%      5.6%
                                                                       ======     ======     ======     ======
</TABLE>


Three Months Ended September 30, 1997 Compared With Three Months Ended 
September 30, 1996

         Revenues  increased  by 268.2%  from $1.1  million in the three  months
ended September 30, 1996 to $4.2 million in the three months ended September 30,
1997.  The increase was due to work completed for new clients and an increase in
work  completed  on existing  projects.  Revenues  from the World  Trade  Center
project,  which commenced in October 1996, were $2.9 million in the 1997 period.
In  addition,  revenues  from  the  Metropolitan  Washington  Airport  Authority
increased  from $0.4  million  in the 1996  period to $0.5  million  in the 1997
period.

         Cost of earned revenues increased from $0.9 million in the three months
ended September 30, 1996 to $3.0 million in the three months ended September 30,
1997,  primarily due to the increase in revenues.  Gross margin  increased  from
18.4% in the 1996 period to 28.1% in the 1997 period.

         Selling,  general and  administrative  expenses remained  substantially
constant at $0.8  million in the three  months ended  September  30, 1997.  As a
percentage of revenues, they decreased from 75.2% in the 1996 period to 21.0% in
the 1997 period due to the increase in revenues.

         Interest  expense and financing fees increased 99.6% from $0.05 million
in the three months ended September 30, 1996 to $0.1 million in the three months
ended  September  30,  1997  due  to an  increase  in  outstanding  indebtedness
resulting from the issuance of $2.1 million of  subordinated  debentures  during
1996 and $0.7 million of subordinated  debentures during the first six months of
1997.

         Net  income  increased  from a net loss of $0.7  million  in the  three
months  ended  September  30,  1996 to net  income of $0.2  million in the three
months ended  September 30, 1997.  This increase in net income was primarily due
to  the   significant   increase  in  revenues   while   selling,   general  and
administrative expenses remained substantially constant.



                                                         9

<PAGE>



Nine Months Ended September 30, 1997 Compared With Nine Months Ended 
September 30, 1996

         Revenues increased by 272.5% from $3.1 million in the nine months ended
September 30, 1996 to $11.4 million in the nine months ended September 30, 1997.
The increase was due to work  completed  for new clients and an increase in work
completed on existing  projects.  Revenues from the World Trade Center  project,
which  commenced  in October  1996,  were $7.1  million in the 1997  period.  In
addition,  revenues from the Metropolitan Washington Airport Authority increased
from $0.8  million in the 1996  period to $2.1  million in the 1997  period.  In
addition, $0.1 million of revenue was recognized in the 1997 period on a project
for which all of the costs were accrued during 1996.

         Cost of earned revenues  increased from $2.2 million in the nine months
ended  September 30, 1996 to $8.2 million in the nine months ended September 30,
1997,  primarily  due to the increase in revenues.  Gross margin  declined  from
29.1% in the 1996 period to 28.1% in the 1997 period. The reason for the decline
in gross  margin is that in the 1996 period there was a one-time  adjustment  of
$0.2  million  to the cost of  earned  revenues  to  reflect  a  reduction  in a
subcontractor's  costs upon the final  closeout of the TVA project.  Net of this
adjustment, gross margin was 21.6% in the 1996 period.

         Selling,  general and  administrative  expenses decreased by 19.3% from
$2.8 million in the nine months ended  September 30, 1996 to $2.3 million in the
nine months ended September 30, 1997,  primarily due to a $0.3 million reduction
in legal fees  relating to certain  litigation  and $0.2  million  reduction  in
indirect labor costs.

         Interest  expense and financing fees increased  158.9% from $0.1 in the
nine months  ended  September  30, 1996 to $0.3 million in the nine months ended
September 30, 1997 due to an increase in outstanding indebtedness resulting from
the issuance of $2.1  million of  subordinated  debentures  during 1996 and $0.7
million of subordinated debentures during the first six months of 1997.

         Net income increased from a net loss of $2.0 million in the nine months
ended  September 30, 1996 to net income of $0.6 million in the nine months ended
September  30,  1997.  This  increase  in net  income was  primarily  due to the
significant  increase in  revenues  and the  decrease  in  selling,  general and
administrative expenses.

Liquidity and Capital Resources

         Prior to the initial public offering (the "IPO") of its Common Stock in
October  1997,  the  Company's  primary  sources of cash were the proceeds  from
private  placements  of Common  Stock and notes  from 1992  through  1995 and of
subordinated  debentures and warrants during 1995 and 1996. During each of those
years, the Company's operations had negative cash flows as the Company increased
its marketing efforts,  opened new offices and hired additional staff to support
anticipated  growth. The net use of cash from operations in 1994, 1995, and 1996
was $1.9 million, $1.9 million and $1.6 million,  respectively, and for the nine
months ended September 30, 1997 was $0.03 million.

         From 1992 through 1995,  members of a private  investor group purchased
an aggregate of 3.6 million  shares of Common Stock at a total purchase price of
$8.3 million,  generating net proceeds to the Company of $8.0 million,  and $0.5
million  aggregate  principal  amount of 10% demand  notes,  generating an equal
amount of net proceeds to the Company.  The demand notes were  converted in 1995
into 103,000 shares of Common Stock.


                                                        10

<PAGE>



         In  addition,  from 1995 through  March 31,  1997,  members of the same
investor  group  purchased  $3.4  million  aggregate  principal  amount  of  10%
subordinated  debentures,  together with warrants to purchase  478,580 shares of
Common Stock at an exercise price of $7.00 per share, generating net proceeds to
the Company of $3.2  million.  In 1996,  an  additional  $0.2 million was raised
through the exercise of warrants by members of the Board of Directors.

         In October 1997,  the Company  completed the IPO, which resulted in net
proceeds to the Company of approximately $10.0 million after payment of offering
expenses  by the  Company.  Following  the  IPO,  the  Company's  interest  in a
partnership  was  redeemed at its cost of $0.7  million  plus  interest of $0.02
million.  In addition,  in October 1997, the Company used proceeds of the IPO to
repay $3.4 million of outstanding notes payable.

         The Company's  anticipated capital requirements  include  approximately
$0.4  million to open two new  regional  offices  during  1997,  $1.0 million to
expand and upgrade its management information systems and $1.0 million to 
further develop  and  document  its command  center  integration  software.  
The Company intends  to fund  these  requirements  with  proceeds  from  the  
IPO and  other available working capital.

         The  Company  has in the past  experienced  cash  flow  shortages.  The
Company believes that the net proceeds of the IPO and cash generated from future
operations  will  enable it to meet its cash  requirements  for the  foreseeable
future and enable it to pursue its current plans for expansion.




                                                        11

<PAGE>



PART II.  OTHER INFORMATION

Item 2.  Changes in Securities and Use of Proceeds

         The Company's  Registration  Statement on Form S-1 (File No. 333-26439)
relating to the initial  public  offering  (the  "Offering")  of an aggregate of
2,208,000  shares (the "Shares") of its Common Stock, par value $0.01 per share,
was declared  effective by the Securities and Exchange  Commission on October 1,
1997. Of the 2,208,000  shares of Common Stock registered under the Registration
Statement,  1,400,000  were  sold by the  Company  and  808,000  were  sold by a
stockholder of the Company that owns more than 10% of the Company's  outstanding
Common Stock (the "Selling Stockholder"). The 808,000 shares sold by the Selling
Stockholder  included  288,000  shares sold upon  exercise of an  over-allotment
option granted to the underwriters of the Offering. The managing underwriters of
the Offering were Cruttenden Roth  Incorporated  and Scott & Stringfellow,  Inc.
(the "Representatives").

         The Offering  commenced on October 1, 1997,  and the sale of the Shares
was  completed on October 7, 1997.  The Shares were sold at a price of $8.50 per
share,  for aggregate  proceeds of $11,900,000 and $6,868,000 to the Company and
the Selling Stockholder,  respectively.  After deducting  underwriting discounts
and  commissions  of $0.7225  per share and a $408,000  non-accountable  expense
allowance paid to the Representatives (of which $297,500 was paid by the Company
and  $110,500  was paid by the Selling  Stockholder),  the  Selling  Stockholder
received net  proceeds of  $6,173,720  and the Company  received net proceeds of
$10,591,000 less expenses incurred in connection with the Offering, all of which
were paid or are payable by the  Company.  On October 7, 1997,  the Company also
issued  to the  Representatives,  at a  purchase  price of $0.001  per  warrant,
warrants to purchase up to an aggregate of 140,000 shares of Common Stock.

         The  Registration  Statement became effective on October 1, 1997, after
the  September 30, 1997 ending date for the period  covered by this report.  The
amount of expenses incurred by the Company in connection with the Offering,  and
the  application  by the Company of the net proceeds  received by the Company in
the Offering, will be disclosed as required by Rule 463 under the Securities Act
of 1933, as amended, in the Company's periodic report for the fiscal year ending
December 31, 1997 and, to the extent necessary,  in subsequent  periodic reports
filed by the  Company  pursuant  to  Section  13(a)  or 15(d) of the  Securities
Exchange Act of 1934, as amended.

Item 6.  Exhibits and Reports on Form 8-K

a.       Exhibits

         11.1     Calculation of Net Income (Loss) Per Share

         27.1     Financial Data Schedule

b. Reports on Form 8-K.

         None

                                                        12

<PAGE>



Signature

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.

SECURACOM INCORPORATED


 /s/ LARRY M. WEAVER
-----------------------------------------------------

Larry M. Weaver
Executive Vice President,
Chief Operating Officer and
Chief Financial Officer

November    , 1997

                                                        13