<PAGE>   1
                       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 March 31, 1998

                                       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)        (Zip Code)

Registrant's telephone number, including area code  (201) 391-8100
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 April 30, 1998:
15,577,121.


                                                                          Page 1
<PAGE>   2


                        DATASCOPE CORP. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  RESULTS OF OPERATIONS AND FINANCIAL CONDITION


RESULTS OF OPERATIONS

     Third quarter and first nine months fiscal 1998 compared to the
     corresponding periods last year.

     NET SALES

         Net sales of $60.3 million in the third quarter and $177.3 million in
         the first nine months of fiscal 1998 increased 4% and 9%, respectively,
         led by the continued U.S. sales growth of VasoSeal(R) and higher sales
         of patient monitoring products and vascular grafts.

         Sales of cardiac assist products were essentially unchanged from last
         year reflecting the continued highly competitive climate that has
         characterized the intra-aortic balloon pumping market for the past two
         years. While competition is expected to continue, the Company believes
         its competitive position will gain as a result of the new System 97e,
         which began shipping in the second quarter, and the new Profile 8 Fr.
         Co-Lumen (CL) balloon catheter that the Company believes offers
         significant advantages over competitive products. The new Profile 8 Fr.
         Catheter has the smallest profile of any intra-aortic balloon catheter
         and is the first capable of insertion through an 8 Fr. sheath, a
         standard sheath size used for coronary angioplasty and stent
         procedures. The 510(k) submission for the Profile 8 Fr. Catheter was
         approved by the FDA in early May 1998 and the Company believes that the
         introduction of this product in the U.S. market will contribute to
         improvements in sales and margins of the Cardiac Assist division.

         Sales of VasoSeal in the U.S. rose to $7.2 million in the third
         quarter, a 50% increase and a 13% increase over the sequential quarter.
         The Company continues to expand the VasoSeal direct selling
         organization in the U.S. to meet growing demand and increased
         competition for vascular sealing devices and is establishing a direct
         sales effort in Europe.

         Sales of patient monitoring products increased modestly in the third
         quarter as initial shipments of new products, including the Expert(TM)
         high-end patient monitoring system more than offset lower sales of
         older monitors. The Patient Monitoring division has introduced several
         new products including the Expert, the Accutorr(R) Plus non-invasive
         blood pressure monitors, an enhanced Passport(R) XG portable monitor
         and the new MRI(TM) monitor. These new products have broadened and
         improved the product line and are expected to contribute to stronger
         growth in the patient monitoring business beginning in the fourth
         quarter.


                                                                          Page 2
<PAGE>   3
         Sales of InterVascular, Inc. increased for the third consecutive
         quarter reflecting shipments to the Company's U.S. distributor of
         InterGard(TM) collagen coated vascular grafts. InterVascular has
         expanded its production capacity to meet increased orders for the U.S.
         market.

         The foreign exchange rate effect of the stronger U.S. dollar compared
         to major European currencies decreased total sales by approximately
         $600 thousand and $2.2 million in the third quarter and first nine
         months of fiscal 1998, respectively.

     GROSS PROFIT (NET SALES LESS COST OF SALES)

         The gross profit percentage was 66.1% and 64.9% for the third quarter
         and first nine months of fiscal 1998, respectively, compared to 64.6%
         and 65.0% for the comparable periods last year. The increase in the
         gross profit percentage in the third quarter of fiscal 1998 was
         primarily attributable to manufacturing efficiencies and higher selling
         prices for the VasoSeal device and cost reductions in the Patient
         Monitoring division, partially offset by lower selling prices for
         cardiac assist products.

     RESEARCH AND DEVELOPMENT (R&D)

         R&D expenses, as a percentage of sales, amounted to 12.3% and 12.8% in
         the third quarter and first nine months of fiscal 1998, respectively,
         compared to 10.7% and 12.3% for the same periods last year.

         R&D expenses increased $1.2 million or 20% and $2.7 million or 13% in
         the third quarter and first nine months of fiscal 1998, respectively,
         primarily attributable to new product development activity in
         essentially all businesses.

     SELLING, GENERAL & ADMINISTRATIVE EXPENSES (SG&A)

         SG&A expenses, as a percentage of sales, were 41.2% and 42.4% in the
         third quarter and first nine months of fiscal 1998, respectively,
         compared to 41.7% and 43.5%, for the same periods last year, as
         expenses increased at a lower rate than sales increases.

         SG&A expenses increased $0.7 million or 3% in the third quarter and
         $4.1 million or 6% in the first nine months of fiscal 1998, as a result
         of the continuing buildup of the U.S. and international VasoSeal field
         selling organization, new marketing programs in the Cardiac Assist
         division and higher business development expenses.

         The stronger U.S. dollar compared to major European currencies
         decreased SG&A expenses by approximately $425 thousand and $1.6 million
         in the third quarter and first nine months of fiscal 1998,
         respectively.


                                                                          Page 3
<PAGE>   4
     SETTLEMENTS OF LITIGATION

         Net earnings in the first nine months of fiscal 1997 included the
         settlement expense for two lawsuits recorded in the first quarter:

         1)       The shareholder class action securities lawsuit filed in
                  November 1993 against the Company. The cost of the settlement
                  including legal fees was $5.6 million, $3.3 million after tax
                  or $0.20 per diluted share.

         2)       The patent infringement lawsuit filed in February 1996 by
                  Quinton Instruments Company and Sherwood Medical Company
                  concerning the VasoSeal Vascular Hemostasis Device. The
                  settlement of this lawsuit allows all parties to market their
                  respective vascular hemostasis products and includes covenants
                  against future litigation. The cost of the settlement
                  including legal fees was $3.0 million, $1.8 million after tax
                  or $0.11 per diluted share.

     INTEREST INCOME AND EXPENSE

         The higher interest income in the third quarter and first nine months
         of fiscal 1998 was primarily attributable to an increase in the
         investment portfolio, as cash generated from operations was invested in
         marketable securities.

     OTHER INCOME AND EXPENSE

         The Company enters into foreign exchange forward contracts to hedge a
         major portion of its foreign currency exposures, primarily related to
         certain receivables denominated in foreign currencies. The hedging has
         reduced the Company's exposure to fluctuations in foreign currencies.
         The net foreign exchange transaction gain or loss is reported in other
         income and expense. Foreign exchange forward contracts outstanding at
         March 31, 1998 totaled $0.2 million, all of which were in European
         currencies, with maturities that do not exceed 12 months.

     NET EARNINGS

         Net earnings in the third quarter of fiscal 1998 improved to $6.2
         million or $0.38 per diluted share compared to $5.75 million, or $0.35
         per diluted share. The earnings increase resulted primarily from higher
         sales of the VasoSeal device, improved gross profit margins and
         slightly higher interest income earned on investments.

         Net earnings for the first nine months of fiscal 1998 were $14.5
         million or $0.88 per diluted share compared to $12.6 million or $0.77
         per diluted share for the first nine months last year, excluding the
         special charge for settlement of litigation of $5.1 million after tax
         or $0.31 per diluted share reported in the first quarter of fiscal
         1997. The improved earnings resulted primarily from higher U.S. sales
         of the VasoSeal device and patient monitoring products, and increased
         interest income earned on investments.




                                                                          Page 4
<PAGE>   5



     LIQUIDITY AND CAPITAL RESOURCES

         The Company maintained its strong financial position during the first
         nine months of fiscal 1998. Working capital was $111.9 million at March
         31, 1998 compared to $123.7 million at June 30, 1997, with the
         reduction primarily attributable to cash used for the stock repurchase
         program ($14.0M) and more funds ($9.3 million) being invested
         long-term.

         Cash provided by operating activities was $17.8 million in the first
         nine months of fiscal 1998 compared to $2.9 million in the same period
         last year. The increase in cash was primarily attributable to improved
         management of inventory and the increase in net earnings in the first
         nine months of fiscal 1998. The first nine months of fiscal 1997
         included a $5.1 million disbursement for settlements of litigation.

         In the first nine months of fiscal 1998, cash was used to purchase $5.3
         million of plant and equipment and $9.3 million in long-term marketable
         securities, with maturities up to 4 years. Short-term investments were
         reduced $11.5 million for cash used for the stock repurchase program.

         On May 3, 1996 the Company announced a common stock repurchase program
         of up to $20 million, subject to market conditions and other relevant
         factors affecting the Company. During the first nine months of fiscal
         1998, 570,100 shares of the Company's stock were repurchased at a cost
         of $13,971,000. Since inception of the stock repurchase program, the
         Company has repurchased 793,400 shares of stock at a cost of
         $18,122,000 as of March 31, 1998.

         Management believes that the Company's financial resources are
         sufficient to meet its projected cash requirements including the
         expenditures expected under the stock repurchase program.

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

     ADOPTION OF NEW ACCOUNTING STANDARD

         The Company adopted Financial Accounting Standard No. 128, "Earnings
         Per Share," as required effective December 31, 1997. All prior earnings
         per share amounts presented have been restated to conform with this new
         statement.




                                                                          Page 5
<PAGE>   6
     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 because of the possibility that market
         conditions may change, particularly as the result of competitive
         activity in the cardiac assist, vascular sealing device and other
         markets served by the Company, the ability of the Company to
         successfully introduce and gain market acceptance for new products,
         continued demand for the Company's products generally, the rapid and
         significant changes that characterize the medical device industry and
         the ability to continue to respond to such technological changes, and
         because the timing of regulatory approvals is uncertain, as well as
         other risks detailed from time to time in documents filed by Datascope
         with the Securities and Exchange Commission.


                                                                          Page 6
<PAGE>   7
                        DATASCOPE CORP. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                           MARCH 31,        JUNE 30,
                                                             1998             1997
                                                           ---------        ---------
ASSETS                                                    (unaudited)          (a)
<S>                                                        <C>              <C>      
Current Assets:
  Cash and cash equivalents                                $   3,851        $   2,597
  Short-term investments                                      45,846           57,338
  Accounts receivable, less allowance for doubtful
    accounts of $1,062 and $922                               50,726           52,240
  Inventories (Note 2)                                        35,290           34,604
  Prepaid expenses and other current assets                   10,505            9,485
                                                           ---------        ---------
      Total Current Assets                                   146,218          156,264

Property, Plant and Equipment, net of accumulated
  depreciation of $44,838 and $42,079                         47,671           44,742
Non-Current Marketable Securities                             35,170           25,902
Other Assets                                                  12,171           10,954
                                                           ---------        ---------
                                                           $ 241,230        $ 237,862
                                                           =========        =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
  Accounts payable                                         $   9,729        $   6,650
  Accrued expenses                                            13,494           15,755
  Accrued compensation                                         7,776            9,336
  Taxes on income                                              3,346              807
                                                           ---------        ---------
      Total Current Liabilities                               34,345           32,548

Other Liabilities                                             14,082           13,071
Stockholders' Equity (Note 4)
  Preferred stock, par value $1.00 per share:
    Authorized 5,000,000 shares; Issued, none                     --               --
  Common stock, par value $.01 per share:
    Authorized, 45,000,000 shares; Issued and
    outstanding, 16,349,186 and 16,245,732 shares                163              162
  Additional paid-in capital                                  45,931           44,266
  Treasury stock at cost, 793,400 and 223,300 shares         (18,122)          (4,151)
  Retained earnings                                          170,389          155,868
  Cumulative translation adjustments                          (5,558)          (3,902)
                                                           ---------        ---------
                                                             192,803          192,243
                                                           ---------        ---------
                                                           $ 241,230        $ 237,862
                                                           =========        =========
</TABLE>


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


                                                                          Page 7
<PAGE>   8
                        DATASCOPE CORP. AND SUBSIDIARIES
                       STATEMENTS OF CONSOLIDATED EARNINGS
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                  NINE MONTHS ENDED                 THREE MONTHS ENDED
                                                       MARCH 31,                         MARCH 31,
                                               --------------------------        --------------------------
                                                 1998             1997             1998             1997
                                               ---------        ---------        ---------        ---------
<S>                                            <C>              <C>              <C>              <C>      
NET SALES                                      $ 177,300        $ 163,100        $  60,300        $  57,900
                                               ---------        ---------        ---------        ---------
Costs and Expenses:
  Cost of sales                                   62,272           57,118           20,458           20,502
  Research and development
    expenses                                      22,775           20,119            7,399            6,180
  Selling, general and
    administrative expenses                       75,120           71,017           24,851           24,139
  Litigation settlement expense (Note 3)              --            8,554               --               --
                                               ---------        ---------        ---------        ---------
                                                 160,167          156,808           52,708           50,821
                                               ---------        ---------        ---------        ---------
OPERATING EARNINGS (LOSS)                         17,133            6,292            7,592            7,079
Other (Income) Expense:
  Interest income                                 (3,796)          (3,568)          (1,235)          (1,119)
  Interest expense                                    18               14                5                6
  Other, net                                         120              488               83              209
                                               ---------        ---------        ---------        ---------
                                                  (3,658)          (3,066)          (1,147)            (904)
                                               ---------        ---------        ---------        ---------
EARNINGS BEFORE TAXES ON INCOME                   20,791            9,358            8,739            7,983
Taxes on Income                                    6,270            1,855            2,534            2,233
                                               ---------        ---------        ---------        ---------
NET EARNINGS                                   $  14,521        $   7,503        $   6,205        $   5,750
                                               =========        =========        =========        =========

Earnings Per Share, Basic (Note 4)             $    0.91        $    0.47        $    0.39        $    0.36
                                               =========        =========        =========        =========
Weighted Average Number of
  Common and Common Equivalent
  Shares Outstanding, Basic                       15,924           16,057           15,762           16,085
                                               =========        =========        =========        =========

Earnings Per Share, Diluted (Note 4)           $    0.88        $    0.46        $    0.38        $    0.35
                                               =========        =========        =========        =========
Weighted Average Number of
  Common and Common Equivalent
  Shares Outstanding, Diluted                     16,445           16,347           16,323           16,542
                                               =========        =========        =========        =========
</TABLE>



                 See notes to consolidated financial statements



                                                                          Page 8
<PAGE>   9
                        DATASCOPE CORP. AND SUBSIDIARIES
                      STATEMENTS OF CONSOLIDATED CASH FLOWS
                             (DOLLARS IN THOUSANDS)
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                        NINE MONTHS ENDED
                                                                                            MARCH 31,
                                                                                     ------------------------
                                                                                       1998            1997
                                                                                     --------        --------
<S>                                                                                  <C>             <C>     
OPERATING ACTIVITIES:
     Net cash provided by operating activities                                       $ 17,789        $  2,854
                                                                                     --------        --------

INVESTING ACTIVITIES:
     Capital expenditures                                                              (5,322)         (3,783)
     Purchases of marketable securities                                               (61,416)        (71,234)
     Maturities of marketable securities                                               63,640          73,706
                                                                                     --------        --------
     Net cash used in investing activities                                             (3,098)         (1,311)
                                                                                     --------        --------

FINANCING ACTIVITIES:
     Treasury shares acquired under repurchase program                                (13,971)         (1,992)
     Exercise of stock options, net                                                     1,433           1,448
                                                                                     --------        --------
     Net cash used in financing activities                                            (12,538)           (544)
                                                                                     --------        --------

   Effect of exchange rates on cash                                                      (899)           (530)
                                                                                     --------        --------

Increase in cash and cash equivalents                                                   1,254             469
Cash and cash equivalents, beginning of period                                          2,597           2,574
                                                                                     --------        --------

Cash and cash equivalents, end of period                                             $  3,851        $  3,043
                                                                                     ========        ========

SUPPLEMENTAL CASH FLOW INFORMATION 
     Cash paid (refunded) during the period for:
         Income taxes                                                                $  3,263        $    (21)
                                                                                     --------        --------

     Non-cash transactions:
         Net transfers of inventory to fixed assets
         for use as demonstration equipment                                          $  4,974        $  4,534
                                                                                     --------        --------
</TABLE>



                 See notes to consolidated financial statements


                                                                          Page 9
<PAGE>   10
                        DATASCOPE CORP. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.  BASIS OF PRESENTATION

The consolidated balance sheets as of March 31, 1998 and 1997 and the statements
of consolidated earnings and cash flows for the three and nine month periods
ended March 31, 1998 and 1997 have been prepared by the Company, without audit.
In the opinion of management, 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. It is suggested that the condensed consolidated
financial statements included herein be read in conjunction with the financial
statements and notes included in the Company's June 30, 1997 annual report to
shareholders. The results of operations for the period ended March 31, 1998 are
not necessarily indicative of a full year's operations.

The presentation of certain prior year information has been reclassified to
conform with the current year presentation.

2.  INVENTORIES

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


<TABLE>
<CAPTION>
                         (In thousands)
                     -----------------------
                     March 31,      June 30,
                       1998          1997
                      -------       -------
<S>                   <C>           <C>    
Materials             $12,464       $10,917
Work in Process         6,507         4,885
Finished Goods         16,319        18,802
                      -------       -------
                      $35,290       $34,604
                      =======       =======
</TABLE>

3.  SETTLEMENTS OF LITIGATION

The Company settled litigation during the first quarter of fiscal 1997 resulting
in the following charges against first quarter earnings:

     $5,550,000 before taxes, $3,291,000 after income tax, equivalent to $0.20
           per share to settle the shareholder class action securities lawsuit,
           including related legal fees.

     $3,004,000 before taxes, $1,807,000 after income tax, equivalent to $0.11
           per share to settle the patent infringement lawsuit filed by Quinton
           Instruments Company and Sherwood Medical Company concerning the
           VasoSeal Vascular Hemostasis Device, including related legal fees.
           The settlement allows all parties to market their respective vascular
           hemostasis products and includes covenants against future litigation.

                                                                         Page 10
<PAGE>   11
                        DATASCOPE CORP. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

4.  EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

The Company adopted Financial Accounting Standard No. 128, "Earnings Per Share",
as required effective December 31, 1997. All prior earnings per share amounts
presented have been restated to conform with this new statement.

The reconciliation of Basic Earnings Per Share to Diluted Earnings Per Share is
as follows:

<TABLE>
<CAPTION>
----------------------------     -----------------------------------   ---------------------------------
For Three Months Ended                   March 31, 1998                          March 31, 1997
----------------------------     -----------------------------------   ---------------------------------
                                    Net                   Per Share      Net                   Per Share
Basic EPS                        Earnings      Shares      Amount      Earnings      Shares      Amount
---------                         ------       ------       -----       ------       ------       -----
Earnings available to
<S>                               <C>          <C>          <C>         <C>          <C>          <C>  
   common shareholders            $6,205       15,762       $0.39       $5,750       16,085       $0.36

Diluted EPS
Options issued to employees           --          561          --           --          457          --
                                  ------       ------       -----       ------       ------       -----

Earnings available to
   common shareholders
   plus assumed conversions       $6,205       16,323       $0.38       $5,750       16,542       $0.35
                                  ======       ======       =====       ======       ======       =====
</TABLE>


<TABLE>
<CAPTION>
-----------------------------     -----------------------------------    ------------------------------------
For Nine Months Ended                        March 31, 1998                          March 31, 1997
-----------------------------     -----------------------------------    ------------------------------------
                                    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            $14,521        15,924       $0.91       $ 7,503        16,057       $0.47

Diluted EPS
Options issued to employees            --           521          --            --           290          --
                                  -------       -------       -----       -------       -------       -----

Earnings available to
   common shareholders
   plus assumed conversions       $14,521        16,445       $0.88       $ 7,503        16,347       $0.46
                                  =======       =======       =====       =======       =======       =====
</TABLE>


Changes in the components of stockholders' equity for the nine months ended
March 31, 1998 were as follows:

<TABLE>
<CAPTION>
                                               (In thousands)
                                                  --------
<S>                                               <C>     
Net income                                        $ 14,521
Translation adjustments                             (1,656)
Common stock and additional paid-in capital
effects of stock option activity                     1,666
Purchases under stock repurchase plan              (13,971)
                                                  --------
Total increase in stockholders' equity            $    560
                                                  ========
</TABLE>

                                                                         Page 11
<PAGE>   12
         


Part II:

    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 12
<PAGE>   13
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
                                                Lawrence Saper
                                                Chairman of the Board and
                                                Chief Executive Officer






                                            By: /s/Murray Pitkowsky
                                                Murray Pitkowsky
                                                Senior Vice President and
                                                Secretary






Dated:  May 11, 1998


                                                                         Page 13