<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

           /x/ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                      For Quarter Ended September 30, 2001

                                       OR

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

            For the transition period from___________to_____________

                          Commission File Number 0-6516

                                 DATASCOPE CORP.
             (Exact name of registrant as specified in its charter)

            Delaware                                             13-2529596
(State of other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)

               14 Philips Parkway, Montvale, New Jersey 07645-9998
                    (Address of principal executive offices)

                                 (201) 391-8100
              (Registrant's telephone number, including area code)

Former name, former address and former fiscal year, if changed since last
report:

     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

Number of Shares of Company's Common Stock outstanding as of
October 31, 2001:    14,766,835.


<PAGE>


                        Datascope Corp. and Subsidiaries
                     Management's Discussion and Analysis of
                  Results of Operations and Financial Condition


Results of Operations

         First quarter of fiscal 2002 compared to the corresponding period last
year.

     Net Sales

         Net sales of $70.9 million in the first quarter of fiscal 2002
         increased $2.6 million or 4% from $68.3 million last year.

              Sales of the Cardiac Assist / Monitoring Products segment
              increased $2.1 million or 4% to $52.3 million from $50.2 million.

                  Sales of Cardiac Assist products decreased 1% to $26.3
                  million. Sales of balloon catheters increased 3% as a result
                  of continued growth and market penetration of the Profile 8
                  Fr. catheter which accounted for 62% of worldwide balloon
                  catheter unit sales compared to 57% last year. Sales of
                  intra-aortic balloon pumps declined 12% due to competitive
                  evaluations and the continued consequence of unfilled sales
                  territories in the U.S.

                  Patient Monitoring sales grew 9% to $26.0 million driven by
                  higher sales of: (a) the company's new central station
                  monitoring system, which utilizes telemetry that operates in
                  protected medical bands, recently allocated by the FCC, (b)
                  Accutorr(R) Plus noninvasive blood pressure monitors, and (c)
                  Masimo pulse oximetry sensors. Customer demand for the
                  Passport 2 portable bedside monitor continued strong.

              Sales of the Collagen Products / Vascular Grafts segment increased
              $0.5 million or 3% to $18.3 million from $17.8 million.

                  Sales of VasoSeal(R) arterial puncture sealing devices
                  declined 4% to $12.7 million compared to $13.2 million last
                  year, reflecting the continued intense competitive environment
                  and slower than anticipated growth in productivity from the
                  field sales organization.

                  As previously announced, Datascope has developed a new,
                  proprietary collagen hemostat which it plans to incorporate
                  into the company's approved delivery platforms: VasoSeal VHD
                  and VasoSeal ES. In addition, Datascope has developed VasoSeal
                  VHD in a 6 Fr. size, which will accommodate the shift in
                  diagnostic procedures to 6 Fr. and below. The company believes
                  the availability of a downsized product will increase VasoSeal
                  penetration of the diagnostic catheterization market, which
                  accounts for 80% of sales.



<PAGE>


                  The company is currently conducting laboratory testing to
                  support Pre-Market Approval (PMA) Supplements for these new
                  products, and would expect to file applications early in the
                  third quarter of the current fiscal year, subject to FDA
                  acceptance of test results.

                  InterVascular sales increased 15% to $5.2 million, compared to
                  $4.5 million last year, reflecting continued growth in
                  international demand for InterGard(R) Silver, the world's
                  first anti-microbial vascular graft.

                  During the quarter, the company notified the U.S. distributor
                  for InterVascular that it will terminate their distribution
                  agreement effective December 31, 2001. In January 2002,
                  Datascope plans to begin selling InterVascular products
                  through its own dedicated direct sales organization in the
                  United States, currently being formed. By making this
                  important investment to expand the InterVascular business, the
                  company will also have unrestricted access to market its
                  peripheral graft products in the U.S. for the first time.
                  Peripheral grafts account for 60% of an estimated $90 million
                  U.S. market for vascular grafts. In addition, Datascope will
                  augment its direct selling entry to the U.S. market with the
                  launch of its new heparin-coated line of InterGard grafts.
                  InterVascular's InterGard Heparin products received FDA
                  clearance in January 2001.

              The stronger U.S. dollar compared to major European currencies
              decreased total sales by approximately $0.4 million in the first
              quarter of fiscal 2002.

     Gross Profit (Net Sales Less Cost of Sales)

         The gross profit percentage was 60.6% for the first quarter of fiscal
         2002 compared to 59.5% for the corresponding period last year. The
         improvement in the gross profit margin was primarily attributable to
         manufacturing efficiencies and comparison to the depressed first
         quarter last year which included one-time costs related to a supply
         disruption.

     Research and Development (R&D)

         R&D expenses, as a percentage of sales, were 8.3% for the first quarter
         of fiscal 2002, compared to 9.2% for the corresponding period last
         year.

         R&D expenses were $5.9 million in the first quarter of fiscal 2002
         compared to $6.3 million for the corresponding period last year. The
         reduced level of R&D expenses was primarily attributable to a more
         selective assessment of R&D projects, primarily in the Collagen
         Products and Patient Monitoring businesses, effective cost management
         in material procurement and outsourcing projects and staffing more
         productively.



<PAGE>


     Selling, General & Administrative Expenses (SG&A)

         SG&A expenses, as a percentage of sales in the first quarter of fiscal
         2002 remained unchanged from last year at 39.4%.

         SG&A expenses of $27.9 million in the first quarter of fiscal 2002
         increased $1.0 million, or 4% primarily as a result of expenses
         associated with the VasoSeal field organization expansion, partially
         offset by lower corporate expenses.

         The stronger U.S. dollar compared to major European currencies
         decreased SG&A expenses by approximately $0.3 million in the first
         quarter of fiscal 2002.

     Restructuring Charges

         In the first quarter fiscal 2002, Datascope recorded a restructuring
         charge of $5.1 million pretax, equivalent to $3.2 million after tax or
         $0.21 per diluted share. The restructuring charge relates to cost
         reduction initiatives primarily associated with the VasoSeal and
         Cardiac Assist businesses which have experienced pressure on revenue
         growth due to competition. The restructuring charge included:

              o   severance expenses, asset writedowns, and exit costs related
                  to the closure of the VasoSeal manufacturing and R&D facility
                  in Vaals, the Netherlands

              o   severance expenses for employee terminations in New Jersey
                  facilities.

         The manufacture of VasoSeal products will be centralized in the Mahwah,
         New Jersey VasoSeal facility by the end of the third quarter, after
         which the Vaals facility will be closed and sold. The company recently
         received FDA clearance for manufacturing at the Mahwah facility, which
         also houses VasoSeal R&D, warehousing and administration.

         Headcount reductions, primarily in the Netherlands, totaled 110 people,
         or 8% of the company's worldwide employment. All of the New Jersey
         based employees left the Company effective September 30, 2001. The
         Vaals employees will leave the Company over the next six months. The
         workforce reductions will not have any significant impact on our
         operations.

         Cost savings from the restructuring program are expected to approximate
         $2.5 million in fiscal 2002 and $5.0 million annually.

     Other Income and Expense

         Interest income in the first quarter of $0.7 million, was $0.4 million
         or 40% lower compared to the first quarter last year. The decline in
         interest income in the first quarter was the result of a $25.1 million
         lower average portfolio balance and a decrease in the average yield
         from 6.1% to 5.4%.



<PAGE>


         In the first quarter of fiscal 2001 we recorded a pretax gain of $593
         thousand, or $0.02 per share after tax, from the sale of an
         underutilized facility in Oakland, New Jersey.

     Goodwill Amortization - Adoption of Recent Accounting Standard

         In the first quarter of fiscal 2002, the Company adopted Financial
         Accounting Standards Board Statement No. 142, "Accounting for Goodwill
         and Other Intangible Assets." The company discontinued amortizing
         goodwill, which amounted to $179 thousand pre tax, equivalent to $0.01
         per share after tax, in the first quarter of fiscal 2002. There was no
         impairment of goodwill based on appropriate testing and analysis.

     Income Taxes

         The consolidated effective tax rate was 25.3% for the first quarter of
         fiscal 2002 compared to 32.0% for the corresponding period last year.
         The lower tax rate in the first quarter of fiscal 2002 was primarily
         attributable to a higher proportion of expenses recorded in
         jurisdictions subject to a higher statutory tax rate. Excluding special
         items in both years, the effective tax rate in the first quarter fiscal
         2002 was 31.5% compared to 31.4% for the comparable period last year.

     Net Earnings

         Net earnings were $3.3 million or $0.22 per diluted share in the first
         quarter of fiscal 2002 compared to $6.1 million, or $0.39 per diluted
         share last year.

         Excluding special items in both years, net earnings were $6.6 million
         or $0.43 per diluted share in the first quarter of fiscal 2002,
         compared to $5.7 million or $0.37 per diluted share for the
         corresponding period last year. The increased earnings primarily
         reflect higher gross margin from increased sales and greater expense
         control.

Liquidity and Capital Resources

     Working capital was $127.8 million at September 30, 2001, compared to
     $129.7 million at June 30, 2001. The current ratio was unchanged at 3.5:1.
     The decrease in working capital was primarily the result of a decrease in
     accounts receivable ($8.7 million) and an increase in accrued expenses
     ($1.7 million), primarily related to the restructuring charge.

     In the first quarter of fiscal 2002, cash provided by operations was $8.7
     million compared to $10.7 million last year. The decline is primarily
     attributable to an increase in inventories. Net cash used in investing
     activities was $0.3 million, attributable to maturities of investments of
     $35.2 million, offset by $33.2 million purchases of investments and the
     purchase of $2.2 million of property, plant and equipment. Net cash used in
     financing activities was $8.0 million, due to stock repurchases of $6.3
     million, stock option activity of $0.9 million and $0.7 million dividends
     paid.


<PAGE>


     We believe our financial resources are sufficient to meet our projected
     cash requirements.

     The moderate rate of current U.S. inflation has not significantly  affected
     the Company.

Euro Conversion

     As part of the European Economic and Monetary Union (EMU), a single
     currency (Euro) will replace the national currencies of most of the
     European countries in which we conduct our business. The conversion rates
     between the Euro and the participating nations' currencies have been fixed
     irrevocably as of January 1, 1999. During a transition period from January
     1, 1999 to December 31, 2001 parties may settle transactions using either
     Euro or the participating country's national currency. The participating
     national currencies will be removed from circulation between January 1,
     2002 and June 30, 2002 and replaced by Euro notes and coinage. Full
     conversion of all affected country operations to the Euro currency is
     expected to be completed by the time national currencies are removed from
     circulation.

     We are currently involved in the phased conversion to the Euro and the
     effects on revenues, costs and various business strategies are being
     assessed. We are able to conduct business in both the Euro and national
     currencies on an as needed basis, as required by the European Union. The
     cost of software and business process conversion is not expected to be
     material to our financial condition or results of operations.

Information Concerning Forward Looking Statements

     This Management's Discussion and Analysis of Results of Operations and
     Financial Condition contains forward-looking statements that involve risks
     and uncertainties that could cause actual results to differ materially from
     those projected in the forward-looking statements as a result of many
     important factors. Many of these important factors cannot be predicted or
     quantified and are outside of our control, including the possibility that
     market conditions may change, particularly as the result of competitive
     activity in the Cardiac Assist, Vascular Sealing and other markets served
     by the company, the company's dependence on certain suppliers for Patient
     Monitoring, Cardiac Assist and VasoSeal products and the company's ability
     to gain market acceptance for new products. Additional risks are that the
     company will not realize the expected savings from the restructuring
     program, the possibility that the company will not increase penetration of
     the diagnostic catheterization market with a downsized VasoSeal product,
     the possibility that the FDA will not accept current tests results of the
     new VasoSeal products, the possibility that the company will not achieve
     success through direct selling of InterVascular products in the U.S., the
     ability of the company to successfully introduce new products, continued
     demand for the company's products generally, rapid and significant changes
     that characterize the medical device industry and the ability to continue
     to respond to such changes, the uncertain timing of regulatory approvals,
     as well as other risks detailed in documents filed by Datascope with the
     Securities and Exchange Commission.



<PAGE>


Quantitative and Qualitative Disclosures About Market Risk

     Due to the global nature of our operations, we are subject to the exposures
     that arise from foreign exchange rate fluctuations. Our objective in
     managing the exposure to foreign currency fluctuations is to minimize net
     earnings volatility associated with foreign exchange rate changes. We enter
     into foreign currency forward exchange contracts to hedge a substantial
     portion of the foreign currency transactions which are primarily related to
     certain intercompany receivables denominated in foreign currencies. Our
     hedging activities do not subject us to exchange rate risk because gains
     and losses on these contracts offset losses and gains on the assets,
     liabilities and transactions being hedged.

     We do not use derivative financial instruments for trading purposes. None
     of our foreign currency forward exchange contracts are designated as
     economic hedges of our net investment in foreign subsidiaries.

     As of September 30, 2001, we had a notional amount of $6.5 million of
     foreign exchange forward contracts outstanding, all of which were in
     European currencies. The foreign exchange forward contracts generally have
     maturities that do not exceed 12 months and require us to exchange foreign
     currencies for U.S. dollars at maturity, at rates agreed to when the
     contract is signed.

Recent Accounting Pronouncements

     In June 2001, the Financial Accounting Standards Board issued Statement of
     Financial Accounting Standards No. 143, "Accounting for Asset Retirement
     Obligations," ("SFAS No. 143"). This Statement provides guidance on how to
     account and report for obligations associated with the retirement of
     tangible long-lived assets and the associated asset retirement costs. SFAS
     No. 143 is effective for fiscal years beginning after June 15, 2002. We do
     not expect this statement to have a material impact on our financial
     statements.

     In October 2001, the Financial Accounting Standards Board issued Statement
     of Financial Accounting Standards No. 144, "Accounting for the Impairment
     or Disposal of Long-Lived Assets," ("SFAS No. 144"). This statement
     provides guidance on accounting and reporting for long-lived assets to be
     held and used, disposed of by sale and disposed of other than by sale. SFAS
     No. 144 is effective for fiscal years beginning after December 15, 2001. We
     do not expect this statement to have a material impact on our financial
     statements.


<PAGE>

                        Datascope Corp. and Subsidiaries
                           Consolidated Balance Sheets
                                 (In thousands)
<TABLE>
<CAPTION>

                                                         Sept 30,           June 30,
                                                           2001               2001
                                                       --------------     --------------
<S>                                                    <C>                <C>
Assets                                                  (unaudited)              (a)
Current Assets:
  Cash and cash equivalents                            $        5,872     $        5,545
  Short-term investments                                       32,684             32,669
  Accounts receivable less allowance for
    doubtful accounts of $1,216 and $1,350                     67,044             75,712
  Inventories                                                  61,652             55,261
  Prepaid expenses and other current assets                    12,086             12,472
                                                       --------------     --------------
      Total Current Assets                                    179,338            181,659

Property, Plant and Equipment, net of accumulated
   depreciation of $54,686 and $52,422                         91,017             90,634
Long-Term Investments                                          12,194             14,134
Other Assets                                                   25,560             23,908
                                                       --------------     --------------
                                                       $      308,109     $      310,335
                                                       ==============     ==============

Liabilities and Stockholders' Equity
Current Liabilities:
  Accounts payable                                     $       16,998     $       18,987
  Accrued expenses                                             15,935             14,211
  Accrued compensation                                         14,077             14,248
  Deferred revenue                                              4,539              4,498
                                                       --------------     --------------
      Total Current Liabilities                                51,549             51,944

Other Liabilities                                              14,733             14,913

Stockholders' Equity
  Preferred stock, par value $1.00 per share:
    Authorized 5 million shares; Issued, none                      --                 --
  Common stock, par value $.01 per share:
    Authorized, 45 million shares; Issued and
    outstanding, 17,625 and 17,508 shares                         176                175
  Additional paid-in capital                                   69,883             69,148
  Treasury stock at cost, 2,861 and 2,713 shares              (83,383)           (77,038)
  Retained earnings                                           264,221            261,625
  Accumulated other comprehensive loss                         (9,070)           (10,432)
                                                       --------------     --------------
                                                              241,827            243,478
                                                       --------------     --------------
                                                       $      308,109     $      310,335
                                                       ==============     ==============

</TABLE>

                 (a) Derived from audited financial statements
                 See notes to consolidated financial statements

<PAGE>
                        Datascope Corp. and Subsidiaries
                       Statements of Consolidated Earnings
                    (In thousands, except per share amounts)
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                    Three Months Ended
                                                       September 30,
                                              --------------------------------
                                                    2001               2000
                                              -------------       ------------

<S>                                            <C>                <C>
Net Sales                                     $      70,900       $     68,300
                                              -------------       ------------

Costs and Expenses:
  Cost of sales                                      27,906             27,662
  Research and development
    expenses                                          5,904              6,256
  Selling, general and
    administrative expenses                          27,947             26,940
  Restructuring charge                                5,132                 --
                                              -------------       ------------
                                                     66,889             60,858
                                              -------------       ------------

Operating Earnings                                    4,011              7,442

Other (Income) Expense:
  Interest income                                      (657)            (1,098)
  Interest expense                                       25                  2
  Other, net                                            180               (408)
                                              -------------       ------------
                                                       (452)            (1,504)
                                              -------------       ------------

Earnings Before Taxes on Income                       4,463              8,946

Taxes on Income                                       1,129              2,863
                                              -------------       ------------

Net Earnings                                  $       3,334       $      6,083
                                              =============       ============


Earnings Per Share, Basic                     $        0.23       $       0.41
                                              =============       ============
Weighted average common
   shares outstanding, Basic                         14,783             14,858
                                              =============       ============

Earnings Per Share, Diluted                   $        0.22       $       0.39
                                              =============       ============
Weighted average common
   shares outstanding, Diluted                       15,287             15,595
                                              =============       ============

</TABLE>


                 See notes to consolidated financial statements

<PAGE>

                        Datascope Corp. and Subsidiaries
                      Statements of Consolidated Cash Flows
                             (Dollars in thousands)
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                   Three Months Ended
                                                                      September 30
                                                             -------------------------------
                                                                  2001              2000
                                                             -------------     -------------
<S>                                                          <C>               <C>
Operating Activities:
     Net cash provided by operating activities               $       8,670     $      10,680
                                                             -------------     -------------

Investing Activities:
     Capital expenditure                                            (2,238)           (3,562)
     Proceeds from sale of Oakland facility                             --             1,112
     Purchases of investments                                      (33,236)           (7,961)
     Maturities of investments                                      35,160             8,036
                                                             -------------     -------------
     Net cash used in investing activities                            (314)           (2,375)
                                                             -------------     -------------

Financing Activities:
     Treasury shares acquired under repurchase programs             (6,345)           (5,466)
     Exercise of stock options and other                              (909)             (288)
     Cash dividends paid                                              (739)             (596)
                                                             -------------     -------------
     Net cash used in financing activities                          (7,993)           (6,350)
                                                             -------------     -------------

     Effect of exchange rates on cash                                  (36)              127
                                                             -------------     -------------

Increase in cash and cash equivalents                                  327             2,082
Cash and cash equivalents, beginning of period                       5,545             3,138
                                                             -------------     -------------

Cash and cash equivalents, end of period                     $       5,872     $       5,220
                                                             =============     =============

Supplemental Cash Flow Information
     Cash (refunded) paid during the period for:
       Income taxes                                          $      (1,438)    $       1,223
                                                             -------------     -------------

     Non-cash transactions:
       Net transfers of inventory to fixed assets
         for use as demonstration equipment                  $       2,858     $       1,333
                                                             -------------     -------------

</TABLE>


                 See notes to consolidated financial statements
<PAGE>
                        Datascope Corp. and Subsidiaries
                   Notes to Consolidated Financial Statements
                 (Unaudited, in thousands except per share data)

1.  Basis of Presentation

The consolidated financial statements include the accounts of Datascope Corp.
and its subsidiaries (the "Company" - which may be referred to as "our", "us" or
"we").

The consolidated balance sheet as of September 30, 2001 and the
statements of consolidated earnings and cash flows for the three month periods
ended September 30, 2001 and 2000 have been prepared by the Company, without
audit. In our opinion, all adjustments (which include only normal recurring
adjustments) have been made that are necessary to present fairly the financial
position, results of operations and cash flows for all periods presented.

Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted. We suggest that you read these condensed
consolidated financial statements in conjunction with the financial statements
and notes included in our Annual Report on Form 10-K for the fiscal year ended
June 30, 2001. The results of operations for the period ended September 30, 2001
are not necessarily indicative of a full year's operations.

We have reclassified certain prior year information to conform with the current
year presentation.

2.  Inventories

Inventories are stated at the lower of cost or market, with cost determined on a
first-in, first-out basis.
<TABLE>
<CAPTION>

                                             ----------        ----------
                                             Sept 30,          June 30,
                                               2001              2001
                                             ----------        ----------
<S>                                          <C>               <C>
                   Materials                 $   28,437        $   24,550
                   Work in Process               11,197            10,185
                   Finished Goods                22,018            20,526
                                             ----------        ----------
                                             $   61,652        $   55,261
                                             ==========        ==========
</TABLE>

3.  Stockholders' Equity

Changes in the components of stockholders' equity for the three months ended
September 30, 2001 were as follows:

<TABLE>
<CAPTION>
<S>                                                            <C>
                   Net earnings                                $    3,334
                   Foreign currency translation adjustments         1,362
                   Common stock and additional paid-in
                     capital effects of stock option activity         736
                   Cash dividends on common stock                    (738)
                   Purchases under stock repurchase plans          (6,345)
                                                               ----------
                   Total decrease in stockholders' equity     ($    1,651)
                                                               ==========
</TABLE>


<PAGE>
                        Datascope Corp. and Subsidiaries
                   Notes to Consolidated Financial Statements
                 (Unaudited, in thousands except per share data)

4.  Earnings Per Share

In accordance with Financial Accounting Standard No. 128, "Earnings Per Share",
we disclose both Basic and Diluted Earnings Per Share. The reconciliation of
Basic Earnings Per Share to Diluted Earnings Per Share is as follows:

<TABLE>
<CAPTION>

----------------------------------      ---------------------------------------      ---------------------------------------
For Three Months Ended                            September 30, 2001                           September 30, 2000
----------------------------------      ---------------------------------------      ---------------------------------------
                                           Net                      Per Share           Net                      Per Share
Basic EPS                                Earnings       Shares        Amount          Earnings       Shares        Amount
---------                               -----------   -----------   -----------      -----------   -----------   -----------
<S>                                   <C>             <C>           <C>              <C>           <C>           <C>
Earnings available to
   common shareholders                  $     3,334        14,783   $      0.23      $     6,083        14,858   $      0.41

Diluted EPS
Options issued to employees                      --           504         (0.01)              --           737         (0.02)
                                        -----------   -----------   -----------      -----------   -----------   -----------

Earnings available to
   common shareholders
   plus assumed conversions             $     3,334        15,287   $      0.22      $     6,083        15,595   $      0.39
                                        ===========   ===========   ===========      ===========   ===========   ===========
</TABLE>


5.  Comprehensive Income

In accordance with Financial Accounting Standard No. 130, "Reporting
Comprehensive Income", we disclose comprehensive income and its components. For
the three month periods ended September 30, 2001 and 2000 our comprehensive
income was as follows:

<TABLE>
<CAPTION>
                                                                    -----------      -----------
                                                                       2001             2000
                                                                    -----------      -----------
<S>                                                                 <C>              <C>
                   Net earnings                                     $     3,334      $     6,083
                   Foreign currency translation
                      gain or (loss)                                      1,362           (1,642)
                                                                    -----------      -----------
                   Total comprehensive income                       $     4,696      $     4,441
                                                                    ===========      ===========
</TABLE>


<PAGE>
                        Datascope Corp. and Subsidiaries
                   Notes to Consolidated Financial Statements
                 (Unaudited, in thousands except per share data)

6.  Segment Information

Our business is the development, manufacture and sale of medical devices. We
have two reportable segments, Cardiac Assist / Monitoring Products and Collagen
Products / Vascular Grafts.

The Cardiac Assist / Monitoring Products segment
includes electronic intra-aortic balloon pumps and catheters that are used in
the treatment of vascular disease and electronic physiological monitors that
provide for patient safety and management of patient care.

The Collagen Products / Vascular Grafts segment includes extravascular
hemostasis devices which are used to seal arterial puncture wounds to stop
bleeding after cardiovascular catheterization procedures and a proprietary line
of knitted and woven vascular grafts and patches for reconstructive vascular and
cardiovascular surgery.

We have aggregated our product lines into two segments based on similar
manufacturing processes, distribution channels, regulatory environments and
customers. Management evaluates the revenue and profitability performance of
each of our product lines to make operating and strategic decisions. We have no
intersegment revenue. Net sales and operating earnings are shown below.

<TABLE>
<CAPTION>

                                                          Cardiac           Collagen
                                                          Assist /          Products /         Corporate
                                                         Monitoring         Vascular             and
                                                          Products           Grafts           Other (a)         Consolidated
                                                       --------------    ---------------    ---------------    ----------------
--------------------------------------------------
Three months ended September 30, 2001
--------------------------------------------------
<S>                                                    <C>               <C>                <C>               <C>
Net sales to external customers                        $       52,310    $        18,314    $           276   $          70,900
                                                       --------------    ---------------    ---------------    ----------------
Operating earnings                                     $        6,058    $         2,855    $           230   $           9,143
                                                       --------------    ---------------    ---------------    ----------------

--------------------------------------------------
Three months ended September 30, 2000
--------------------------------------------------
Net sales to external customers                        $       50,189    $        17,849    $           262    $         68,300
                                                       --------------    ---------------    ---------------    ----------------
Operating earnings                                     $        3,201    $         3,419    $           822    $          7,442
                                                       --------------    ---------------    ---------------    ----------------

Reconciliation to consolidated earnings
   before income taxes :                                  2001               2000
--------------------------------------------------     --------------    ---------------
Consolidated operating earnings                        $        9,143    $         7,442
Interest income, net                                              632              1,096
Other (expense) income                                           (180)               408
Restructuring charges                                          (5,132)                --
                                                       --------------    ---------------
Consolidated earnings before taxes                     $        4,463    $         8,946
                                                       ==============    ===============

</TABLE>
(a) Net sales of life science products by Genisphere are included within
Corporate and Other.

<PAGE>

                        Datascope Corp. and Subsidiaries
                   Notes to Consolidated Financial Statements
                 (Unaudited, in thousands except per share data)


7.  Goodwill and Other Intangible Assets
    Early Adoption of Financial Accounting Standard No. 142

The Financial Accounting Standards Board issued Statement of Financial
Accounting Standards No. 142, "Accounting for Goodwill and Other Intangible
Assets" (SFAS No. 142), in June 2001. This statement provides guidance on how to
account for existing goodwill and intangible assets from completed acquisitions.
In accordance with the early adoption provision of this statement, we adopted
SFAS No. 142 in the first quarter fiscal 2002. We discontinued the amortization
of goodwill, amounting to $179 thousand pre-tax, or $0.01 per share after tax,
and determined there is no impairment in the carrying value of our existing
goodwill ($6.0 million).

The following table presents our earnings and earnings per share on a proforma
basis (including special items in both years) as though goodwill amortization
had not been recorded in the prior year.
<TABLE>
<CAPTION>

                                                                     Three Months Ended
                                                                       September 30,
                                                             ---------------------------------
                                                                  2001              2000
                                                             ---------------    --------------
<S>                                                          <C>                <C>
               Net earnings:
                     Reported  net earnings                  $         3,334    $        6,083
                     Add back goodwill amortization                       --               123
                                                             ---------------    --------------
                     Adjusted net earnings                   $         3,334    $        6,206
                                                             ===============    ==============


               Basic earnings per share:
                     Reported earnings per share             $          0.23    $         0.41
                     Goodwill amortization                                --    $         0.01
                                                             ---------------    --------------
                     Adjusted earnings per share             $          0.23    $         0.42
                                                             ===============    ==============


               Diluted earnings per share:
                     Reported earnings per share             $          0.22    $         0.39
                     Goodwill amortization                                --    $         0.01
                                                             ---------------    --------------
                     Adjusted earnings per share             $          0.22    $         0.40
                                                             ===============    ==============
</TABLE>

<PAGE>
                        Datascope Corp. and Subsidiaries
                   Notes to Consolidated Financial Statements
                 (Unaudited, in thousands except per share data)

8.  Restructuring Charges

In the first quarter fiscal 2002, we recorded a restructuring charge of $5.1
million pre-tax, equivalent to $3.2 million after tax or $0.21 per diluted
share. The restructuring charge relates to cost reduction initiatives primarily
associated with the VasoSeal and Cardiac Assist businesses which have
experienced pressure on revenue growth due to competition. The restructuring
charge included:

   o    severance expenses, asset writedowns and exit costs related to the
        closure of the VasoSeal manufacturing and R&D facility in Vaals, The
        Netherlands, which will be closed and sold after the third quarter
        fiscal 2002. The Vaals employees will leave the Company over the next
        six months.

   o    severance expenses for employee terminations in New Jersey facilities.
        All the New Jersey based employees left the Company effective September
        30, 2001.

The workforce reductions of 110 people will not have any significant impact on
our operations. A summary of the restructuring charges and remaining liability
at September 30, 2001 is shown below.
<TABLE>
<CAPTION>

                                                          Vaals Asset
                                                           Writedowns          Vaals             U.S.
                                                               and            Employee         Employee
                                                           Exit Costs        Severance        Severance           Total
                                                          --------------   ---------------  ---------------   --------------
<S>                                                       <C>              <C>              <C>               <C>
Q1 Fiscal 2002 restructuring charges                      $        2,462   $         1,108  $         1,562   $        5,132
Utilized through September 30, 2001                                2,107                --               --            2,107
                                                          --------------   ---------------  ---------------   --------------
Remaining liability at September 30, 2001                 $          355   $         1,108  $         1,562   $        3,025
                                                          ==============   ===============  ===============   ==============
</TABLE>

9. Recent Accounting Pronouncements

In June 2001, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 143, "Accounting for Asset Retirement
Obligations," ("SFAS No. 143"). This statement provides guidance on how to
account and report for obligations associated with the retirement of tangible
long-lived assets and the associated asset retirement costs. SFAS No. 143 is
effective for fiscal years beginning after June 15, 2002. We do not expect this
statement to have a material impact on our financial statements.

In October 2001, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets," ("SFAS No. 144"). This statement provides
guidance on accounting and reporting for long-lived assets to be held and used,
disposed of by sale and disposed of other than by sale. SFAS No. 144 is
effective for fiscal years beginning after December 15, 2001. We do not expect
this statement to have a material impact on our financial statements.


<PAGE>


Part II:

    Item 1.   Legal Proceedings

              In the matter of Datascope Corp. v. Arrow International Inc., the
              suit was concluded when the United States District Court for the
              District of New Jersey granted Datascope Corp.'s June 2001 Motion
              for Summary Judgment on August 17, 2001.

    Item 6.   Exhibits and Reports on Form 8-K

              a.  Exhibits

                  none

              b.  Reports on Form 8-K. No reports on Form 8-K have been filed
                  during the quarter for which this report is filed.


<PAGE>



                                                                       Form 10-Q






SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
    Registrant has duly caused this Report to be signed on its behalf by the
    undersigned, thereunto duly authorized.

                                         DATASCOPE CORP.
                                         Registrant







                                         By: \s\ Lawrence Saper
                                             -----------------------------------
                                             Chairman of the Board and
                                             Chief Executive Officer






                                         By: \s\ Leonard S. Goodman
                                             -----------------------------------
                                             Vice President, CFO and Treasurer


         Dated:  November 14, 2001