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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                             ---------------------

                                  FORM 10-K/A
                                AMENDMENT NO. 1

                       AMENDMENT TO APPLICATION OR REPORT
  FILED PURSUANT TO SECTION 12, 13, OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
                                      1934

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

                        COMMISSION FILE NUMBER 000-28473

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     The undersigned registrant hereby amends Part II, Item 6 of its Annual
Report on Form 10-K for the year ended September 30, 2000 as set forth below.

                                    PART II

ITEM 6. SELECTED FINANCIAL DATA

     The following tables set forth certain selected historical financial data
of the Company.

     The following statement of operations data for the years ended September
30, 1998, 1999 and 2000, and the balance sheet data as of September 30, 1999 and
2000, are derived from our audited financial statements appearing elsewhere in
this Form 10-K. The statement of operations data for the year ended September
30, 1997 and the balance sheet data as of September 30, 1998 were derived from
our audited financial statements not included herein. The selected financial
data shown below as of September 30, 1996 and 1997, and for the year ended
September 30, 1996, are derived from our unaudited financial statements. In our
opinion, such unaudited financial information includes all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation of our results of operations for the periods then ended and our
financial position as of such date. This information should be read in
conjunction with "Management's Discussion and Analysis of Financial Condition
and Results of Operations" and our financial statements and the related notes
thereto included elsewhere in this Form 10-K.


<TABLE>
<CAPTION>
                                                          YEAR ENDED SEPTEMBER 30,
                                               -----------------------------------------------
                                                1996      1997      1998      1999      2000
                                               -------   -------   -------   -------   -------
                                                  (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<S>                                            <C>       <C>       <C>       <C>       <C>
STATEMENT OF OPERATIONS DATA
Sales........................................  $11,292   $13,894   $16,297   $20,645   $21,106
Cost of sales................................    5,111     5,783     7,537     9,076     9,646
                                               -------   -------   -------   -------   -------
Gross profit.................................    6,181     8,111     8,760    11,569    11,460
Operating expenses:
  Selling, general and administrative........    2,960     3,906     4,395     5,905     7,153
  Research and development...................    1,840     1,855     1,873     2,155     3,190
                                               -------   -------   -------   -------   -------
          Total operating expenses...........    4,800     5,761     6,258     8,060    10,343
                                               -------   -------   -------   -------   -------
Income from operations.......................    1,381     2,350     2,492     3,509     1,117
Interest and other income (expense), net.....       37        10       249       305       548
                                               -------   -------   -------   -------   -------
Income before income taxes...................    1,418     2,350     2,741     3,814     1,665
Provision for income taxes...................      588       964     1,122     1,547       681
                                               -------   -------   -------   -------   -------
Net income...................................  $   830   $ 1,396   $ 1,619   $ 2,267   $   984
                                               =======   =======   =======   =======   =======
Earnings per share -- basic and diluted......  $  0.21   $  0.35   $  0.40   $  0.57   $  0.18
Weighted average shares outstanding as
  adjusted for reincorporation -- basic......    4,000     4,000     4,000     4,000     5,514
                     diluted.................    4,000     4,000     4,000     4,000     5,610
</TABLE>


<TABLE>
<CAPTION>
                                                          YEAR ENDED SEPTEMBER 30,
                                              ------------------------------------------------
                                               1996      1997      1998      1999       2000
                                              -------   -------   -------   -------    -------
                                                  (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<S>                                           <C>       <C>       <C>       <C>        <C>
BALANCE SHEET DATA
Cash and cash equivalents...................  $    --   $    --   $    38   $ 3,539(1) $ 7,884
Working capital.............................    6,030     7,381     8,641    10,808     18,729
Total assets................................    9,071    11,018    12,160    15,491     24,413
Stockholders' equity........................    7,471     8,867    10,486    12,753     22,423
</TABLE>

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(1) Includes $3,500,000 which was transferred in October 1999 to OYO USA
    pursuant to a trust arrangement under which TrueTime was the sole beneficial
    owner of the trust assets. The trust was established to maximize the return
    on our assets available for investment until such time that we established
    our own short-term investment program. On December 1, 1999, the trust
    agreement was terminated and the cash and cash equivalents held in trust
    were distributed to TrueTime.
<PAGE>   3

                                   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.

                                            TRUETIME, INC.

                                            By   /s/ ELIZABETH A. WITHERS
                                             -----------------------------------
                                                    Elizabeth A. Withers
                                                President and Chief Executive
                                                            Officer


Date: December 22, 2000