<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 December 31, 1995
                           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
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(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 January 31, 1996:
16,118,641.
<PAGE>   2
                        DATASCOPE CORP. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  RESULTS OF OPERATIONS AND FINANCIAL CONDITION



RESULTS OF OPERATIONS

    Net Sales

        Sales increased 8% and 9% in the second quarter and first six months of
        fiscal 1996, respectively, as compared to the corresponding periods last
        year, reflecting increases in all of the Company's businesses.

        The Cardiac Assist division made the principal contribution to increased
        sales as a result of continued strong worldwide sales of intra-aortic
        balloon catheters. 

        Worldwide sales of Patient Monitoring products increased for the second
        consecutive quarter, despite slightly lower domestic sales, as a result
        of continued strong international sales growth. The slight decline in
        domestic Patient Monitoring sales was primarily due to the continued
        U.S. shipment hold on the Point of View(R) monitor. As previously
        reported, the Company voluntarily put U.S. shipments of the Point of
        View monitor on hold in October 1994 after an audit conducted by the
        Company disclosed a regulatory issue concerning data submitted to the
        Food and Drug Administration (FDA). The Company continues to hold U.S.
        shipments pending its submission, and satisfactory review by FDA, of a
        new 510(k) pre-market notification. 

        InterVascular, Inc., the Company's wholly owned producer of Vascular
        grafts, continued its strong growth pattern with sales primarily in the
        international market. 

        The Company was pleased with the progress of the VasoSeal(R) U.S. market
        launch initiated during the second quarter of fiscal 1996. The VasoSeal
        vascular hemostasis device is currently the only device of its kind
        approved by the Food and Drug Administration and sold in the U.S., for
        use in both coronary angiography and coronary angioplasty procedures,
        key tools in the battle against heart disease. 

        The weakening of the U.S. dollar compared to major European currencies
        favorably impacted sales by approximately $400 thousand and $1.1 million
        in the second quarter and first six months of fiscal 1996, respectively,
        compared to the corresponding periods last year.

    Gross Profit (Net Sales Less Cost of Sales)

        The gross profit percentage improved to 65.9% and 65.7% for the second
        quarter and first six months of fiscal 1996, respectively, compared to
        65.2% and 64.9% for the corresponding periods last year because of a
        more favorable sales mix.

                                       2
<PAGE>   3
    Research and Development (R&D)

        R&D expenses, as a percentage of sales, amounted to 11% and 12% in the
        second quarter and first six months of fiscal 1996, as compared to 10%
        for the same periods last year. Total R&D expenses increased 25% and 26%
        in the second quarter and first six months of fiscal 1996, respectively,
        compared to the same periods last year as R&D activity increased in all
        businesses.

    Selling, General & Administrative Expenses (SG&A)

        SG&A expenses, as a percentage of sales, were 42.5% and 43.7% in the
        second quarter and first six months of fiscal 1996, respectively,
        compared to 43.2% and 44.1% for the corresponding periods last year.

        SG&A expenses increased $1.3 million or 6% in the second quarter and
        $3.2 million or 8% in the first six months of fiscal 1996, compared to
        the corresponding periods last year. The increases were primarily
        attributable to sales and marketing expenses relating to higher sales
        volume and start-up costs associated with the U.S. market launch of
        VasoSeal. 

        The weakening of the U.S. dollar compared to major European currencies
        increased SG&A expenses by approximately $300 thousand and $700 thousand
        in the second quarter and first six months of fiscal 1996, respectively,
        compared to the corresponding periods last year.

    Income from Settlement of Litigation

        In the second quarter of fiscal 1996 the Company settled all litigation
        brought by its wholly owned subsidiaries, InterVascular, Inc. and
        InterVascular, SA (France), against several former employees and certain
        other defendants. Income from the settlement of litigation, net of
        related expenses, was $10.7 million, or $7.9 million after tax,
        equivalent to $0.47 per share.

    Interest Income and Expense

        The higher interest income in the second quarter and first six months of
        fiscal 1996 compared to the same periods last year was attributable to
        an increase in the investment portfolio and an increase in interest
        rates.

    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
        December 31, 1995 totaled $700 thousand, all of which were in European
        currencies, with maturities that do not exceed 12 months.

                                       3
<PAGE>   4
    Liquidity and Capital Resources

        The Company maintained its strong financial position during the first
        six months of fiscal 1996. Working capital was $126.0 million at
        December 31, 1995, compared to $110.7 million at June 30, 1995.

        The current ratio at December 31, 1995 was 4.5:1 compared to 4.3:1 at
        June 30, 1995. Cash provided by operating activities was $16.8 million
        in the first six months of fiscal 1996 compared to $15.3 million in the
        corresponding period last year. In the first six months of fiscal 1996
        cash provided by operating activities included litigation settlement
        income of $7.9 million, partially offset by an increase in inventory to
        support the higher sales level and an increase in accounts receivable
        attributable to extended terms given to certain customers in September
        1995 and lower December collections. In the first six months of fiscal
        1995 cash from operating activities was favorably impacted by
        significantly lower accounts receivable due to strong collections.

        In the first six months of fiscal 1996 cash was used to purchase $10.4
        million of marketable securities and $5.7 million of plant and equipment
        which included sales demonstration units for new products.

        Management believes that the Company's financial resources are
        sufficient to meet its projected cash requirements. The moderate rate of
        current U.S. inflation has not significantly affected the Company.


                                       4
<PAGE>   5
                        DATASCOPE CORP. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                                          DEC 31,         JUNE 30,
                                                           1995             1995
                                                          -------         -------
ASSETS                                                  (unaudited)          (a)
<S>                                                    <C>               <C>
Current Assets:
  Cash and cash equivalents                                 4,404           3,096
  Marketable securities                                    63,600          53,165
  Accounts receivable, less allowance for doubtful
    accounts of $1,317 and $1,273                          47,063          45,590
  Inventories (Note 2)                                     40,933          36,499
  Prepaid expenses and other current assets                 6,095           5,880
                                                          -------         -------
      Total Current Assets                                162,095         144,230
Property, Plant and Equipment, net of accumulated
  depreciation of $35,307 and $32,681                      44,884          44,278
Marketable Securities, non-current                          9,328           9,354
Other Assets                                                9,789           9,001
                                                          -------         -------
                                                          226,096         206,863
                                                          =======         =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
  Accounts payable                                          7,577           7,644
  Accrued expenses                                         16,188          14,149
  Accrued compensation                                      7,554           9,384
  Taxes on income                                           4,728           2,309
                                                          -------         -------
      Total Current Liabilities                            36,047          33,486

Other Liabilities                                          10,588          10,058

Stockholders' Equity (Note 3)
  Preferred stock, par value $1.00 per share:
    Authorized 5,000,000 shares;
    Issued and outstanding, none                             --              --
  Common stock, par value $.01 per share:
    Authorized, 45,000,000 shares; Issued and
    outstanding, 16,117,441 and 16,070,689 shares             161             161
  Additional paid-in capital                               42,477          41,837
  Retained earnings                                       137,160         121,347
  Cumulative translation adjustments                         (337)            (26)
                                                          -------         -------
                                                          179,461         163,319
                                                          -------         -------
                                                          226,096         206,863
                                                          =======         =======
</TABLE>

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

                                       5
<PAGE>   6
                        DATASCOPE CORP. AND SUBSIDIARIES
                       STATEMENTS OF CONSOLIDATED EARNINGS
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                         SIX MONTHS ENDED             THREE MONTHS ENDED
                                                            DECEMBER 31,                 DECEMBER 31,
                                                      ----------------------        ----------------------
                                                        1995           1994           1995           1994
                                                      -------        -------        -------        -------
<S>                                                   <C>            <C>            <C>            <C>
NET SALES                                              98,200         90,000         52,300         48,400
                                                      -------        -------        -------        -------
Costs and Expenses:
  Cost of sales                                        33,720         31,565         17,859         16,834
  Research and development
    expenses                                           11,450          9,116          5,839          4,665
  Selling, general and
    administrative expenses                            42,938         39,723         22,244         20,915
  Income from settlement of litigation (Note 4)       (10,691)          --          (10,691)          --   
                                                      -------        -------        -------        -------
                                                       77,417         80,404         35,251         42,414
                                                      -------        -------        -------        -------
OPERATING EARNINGS                                     20,783          9,596         17,049          5,986

Other (Income) Expense:
  Interest income                                      (2,056)        (1,132)        (1,041)          (605)
  Interest expense                                         38              7             20              4
  Other, net                                              346             97            211             84
                                                      -------        -------        -------        -------
                                                       (1,672)        (1,028)          (810)          (517)
                                                      -------        -------        -------        -------
EARNINGS BEFORE TAXES ON INCOME                        22,455         10,624         17,859          6,503

Taxes on Income                                         6,642          3,506          5,148          2,146
                                                      -------        -------        -------        -------
Net Earnings                                           15,813          7,118         12,711          4,357
                                                      =======        =======        =======        =======

Earnings Per Share (Note 3)                              0.95           0.44           0.76           0.27
                                                      =======        =======        =======        =======
Weighted Average Number of Common
  and Common Equivalent Shares
  Outstanding (Note 3)                                 16,564         16,185         16,647         16,188
                                                      =======        =======        =======        =======
</TABLE>


                 See notes to consolidated financial statements

                                       6
<PAGE>   7
                        DATASCOPE CORP. AND SUBSIDIARIES
                     STATEMENTS OF CONSOLIDATED CASH FLOWS
                             (DOLLARS IN THOUSANDS)
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                          SIX MONTHS ENDED
                                                             DECEMBER 31,
                                                       ---------------------- 
                                                         1995           1994
                                                       -------        -------
<S>                                                    <C>            <C>
OPERATING ACTIVITIES:
  Net cash provided by operating activities             16,811         15,255
                                                       -------        -------

INVESTING ACTIVITIES:
  Capital expenditures                                  (5,733)        (6,933)
  Purchases of short-term marketable securities        (67,498)       (41,081)
  Maturities of short-term marketable securities        57,089         41,481
  Purchases of long-term marketable securities            --           (8,110)
                                                       -------        -------
  Net cash used in investing activities                (16,142)       (14,643)
                                                       -------        -------
FINANCING ACTIVITIES:
  Net cash provided by financing activities                473             93
                                                       -------        -------
  Effect of exchange rates on cash                         166           (111)
                                                       -------        -------

Increase in cash and cash equivalents                    1,308            594
Cash and cash equivalents, beginning of period           3,096          2,082
                                                       -------        -------
Cash and cash equivalents, end of period                 4,404          2,676
                                                       =======        =======
SUPPLEMENTAL CASH FLOW INFORMATION
  Cash paid during the period for:
    Income taxes                                         4,221          3,085
                                                       -------        -------
</TABLE>

                 See notes to consolidated financial statements


                                       7
<PAGE>   8
                        DATASCOPE CORP. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.  BASIS OF PRESENTATION

The consolidated balance sheet as of December 31, 1995 and the statements of
consolidated earnings and cash flows for the three and six month periods ended
December 31, 1995 and 1994 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, 1995 annual report to
shareholders. The results of operations for the period ended December 31, 1995
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)

                                         DEC 31,      JUNE 30,
                                          1995          1995
                                         -------      -------
<S>                                      <C>          <C>
                    Materials            $16,636      $15,452
                    Work in Process        7,664        6,592
                    Finished Goods        16,633       14,455
                                         -------      -------
                                         $40,933      $36,499
                                         =======      =======
</TABLE>

3.  STOCKHOLDERS' EQUITY

Changes in the components of stockholders' equity for the six months ended
December 31, 1995 are as follows: 

<TABLE>
<CAPTION>
                                                                      (In thousands)
<S>                                                                       <C>
                    Net income                                            $15,813
                    Translation adjustments                                  (311)
                    Proceeds on the exercise of options to purchase
                        46,752 shares of common stock                         640
                                                                          -------
                    Total increase in stockholders' equity                $16,142
                                                                          =======
</TABLE>


                                       8
<PAGE>   9
4.  INCOME FROM SETTLEMENT OF LITIGATION

In the second quarter of fiscal 1996 the Company settled all litigation brought
by its wholly owned subsidiaries, InterVascular, Inc. and InterVascular, SA
(France), against several former employees and certain other defendants. Income
from the settlement of litigation, net of related expenses, was $10.7 million,
or $7.9 million after tax, equivalent to $0.47 per share.


                                       9
<PAGE>   10
Part II:

        Item 6 Exhibits and Reports on Form 8-K

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


                                       10
<PAGE>   11
                                                                       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
                                                ----------------------------
                                                Lawrence Saper
                                                Chairman of the Board and
                                                Chief Executive Officer




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



Dated:   February 13, 1996


                                       11
<PAGE>   12

                                EXHIBIT INDEX
                                -------------



Exhibit No.                         Description
-----------                         -----------

  Ex-27                       Financial Data Schedule.