SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 10-Q

                 QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934




For Quarter Ended                January 29, 2000

Commission File Number                0-3319




                          DEL GLOBAL TECHNOLOGIES CORP.
                         ------------------------------
             (Exact name of registrant as specified in its charter)


         New York                                                13-1784308
-------------------------------                              -------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)

One Commerce Park, Valhalla, NY                                     10595
-------------------------------                              -------------------
(Address of principal executive offices)                         (Zip Code)

                                 (914) 686-3600

                                 --------------
               (Registrant's telephone number including area code)


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
   -------

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the close of the business on March 10, 2000.

                            Common Stock - 7,814,494

<PAGE>

                                     PART I

Item 1.  Financial Statements

              Consolidated Balance Sheets - January 29, 2000 and July 31, 1999

              Consolidated  Statements  of Income  for the Three  Months and Six
              Months Ended January 29, 2000 and January 30, 1999

              Consolidated  Statements  of Cash Flows for the Six  Months  Ended
              January 29, 2000 and January 30, 1999

              Notes to Consolidated Financial Statements

                                       -1-

<PAGE>

                 DEL GLOBAL TECHNOLOGIES CORP. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

                                   (Unaudited)

                                     ASSETS

                                                      January 29,      July 31,
                                                         2000            1999
                                                     -----------     -----------

CURRENT ASSETS
        Cash and cash equivalents                    $   244,762     $   320,742
        Investments available-for-sale                 1,290,418       1,292,852
        Trade receivables - net                       15,906,168      15,624,433
        Cost and estimated earnings
             in excess of billings
             on uncompleted contracts                  8,788,171       6,402,532
        Inventory                                     37,693,356      36,599,587
        Prepaid expenses and other
             current assets                            1,878,514       1,216,145
                                                     -----------     -----------
             Total current assets                     65,801,389      61,456,291
                                                     -----------     -----------

FIXED ASSETS - Net                                    15,137,511      14,668,060
INVESTMENT IN AFFILIATE                                1,451,348            --
INTANGIBLES - Net                                        788,483         879,898
GOODWILL - Net                                         5,091,200       5,236,965
DEFERRED CHARGES                                         199,281         264,464
OTHER ASSETS                                           1,625,251       1,598,279
                                                     -----------     -----------
        TOTAL                                        $90,094,463     $84,103,957
                                                     ===========     ===========

                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
         Current portion of long-term debt           $   594,740     $   516,654
         Accounts payable - trade                      5,709,684       6,295,586
         Accrued liabilities                           4,269,911       4,468,521
         Deferred compensation liability               1,301,296       1,201,065
         Income taxes                                  1,339,958       1,224,451
                                                     -----------     -----------
              Total current liabilities               13,215,589      13,706,277
                                                     -----------     -----------

LONG-TERM LIABILITIES
         Long-term debt (less current portion)         4,729,976       1,832,287
         Other                                           532,771         594,272
         Deferred income taxes                         1,936,467       1,620,417
                                                     -----------     -----------
              Total liabilities                       20,414,803      17,753,253
                                                     -----------     -----------

SHAREHOLDERS' EQUITY
         Common stock, $.10 par value;
            Authorized 20,000,000 shares;
            Issued and outstanding - 8,383,840
            shares at January 29, 2000 and
            8,278,646 shares at July 31, 1999            838,385         827,866
         Additional paid-in capital                   51,446,645      50,798,502
         Retained earnings                            22,326,647      19,032,506
                                                     -----------     -----------
                                                      74,611,677      70,658,874
         Less common stock in treasury -
            567,846 shares at January 29, 2000
            and 490,393 shares at July 31, 1999        4,932,017       4,308,170
                                                     -----------     -----------
                    Total shareholders' equity        69,679,660      66,350,704
                                                     -----------     -----------
         TOTAL                                       $90,094,463     $84,103,957
                                                     ===========     ===========

   See notes to consolidated financial statements


                                       -2-

<PAGE>

                 DEL GLOBAL TECHNOLOGIES CORP. AND SUBSIDIARIES

                        CONSOLIDATED STATEMENTS OF INCOME

                                   (Unaudited)

                               Three Months Ended           Six Months Ended
                           -------------------------   -------------------------
                           January 29,   January 30,   January 29,   January 30,
                              2000          1999          2000         1999
                           -----------   -----------   -----------   -----------

NET SALES                  $17,450,349   $15,921,952   $33,162,373   $30,731,618
                           -----------   -----------   -----------   -----------
COSTS AND EXPENSES:
  Cost of sales             10,419,466     9,308,253    19,730,199    17,987,421
  Research and development   1,706,689     1,522,929     3,249,843     2,954,243
  Selling, general and
     administrative          2,700,789     2,749,659     5,303,963     5,370,821
  Interest expense - net        83,095        15,831       145,132        22,712
                           -----------   -----------   -----------   -----------
                            14,910,039    13,596,672    28,429,137    26,335,197
                           -----------   -----------   -----------   -----------
INCOME BEFORE PROVISION
   FOR INCOME TAXES          2,540,310     2,325,280     4,733,236     4,396,421
PROVISION FOR INCOME TAXES     772,147       720,836     1,439,095     1,362,890
                           -----------   -----------   -----------   -----------
NET INCOME                 $ 1,768,163   $ 1,604,444   $ 3,294,141   $ 3,033,531
                           ===========   ===========   ===========   ===========

NET INCOME PER COMMON
   SHARE AND COMMON
   SHARE EQUIVALENTS:

     BASIC                 $       .23   $       .21   $       .42   $       .40
                           ===========   ===========   ===========   ===========
     DILUTED               $       .22   $       .20   $       .40   $       .37
                           ===========   ===========   ===========   ===========

Weighted average number
   of commons shares

   outstanding               7,813,017     7,648,308     7,799,511     7,648,361
                           ===========   ===========   ===========   ===========
Weighted average number
   of common shares
   outstanding and common
   share equivalents         8,163,980     8,205,600     8,167,878     8,174,078
                           ===========   ===========   ===========   ===========



  See notes to consolidated financial statements


                                       -3-

<PAGE>

                 DEL GLOBAL TECHNOLOGIES CORP. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                                           Six Months Ended

                                                      --------------------------
                                                      January 29,    January 30,
                                                          2000          1999
                                                      -----------   -----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Income                                         $ 3,294,141   $ 3,033,531
   Adjustments to reconcile net income
   to net cash provided by operating
   activities:
      Depreciation                                      1,146,461       843,725
      Amortization                                        368,873       322,676
      Imputed interest                                     22,541        10,973
      Deferred income tax provision                       294,990       184,374
      Tax benefit from exercise of stock
        options and warrants                              238,518       131,391
      Amortization of stock-based compensation             17,518        11,215
   Changes in assets and liabilities:
      Increase in trade receivables                      (281,735)   (1,011,876)
      Increase in cost and estimated earnings in
        excess of billings on uncompleted contracts    (2,385,639)   (1,454,565)
      Increase in inventory                            (1,093,769)   (4,013,448)
      Increase in prepaid and other current assets       (728,879)     (869,686)
      Increase in other assets                             (5,912)       (9,983)
      (Decrease) increase in accounts payable - trade    (585,902)    1,262,347
      (Decrease) increase in accrued liabilities         (360,308)      170,749
      Increase in deferred compensation liability         100,231       212,006
      Increase in income taxes payable                    115,507       627,041
                                                      -----------   -----------
Net cash provided by (used in) operating activities       156,636      (549,530)
                                                      -----------   -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
      Net cash invested in affiliate                   (1,080,040)         --
      Net cash paid to acquire selected assets               --        (509,219)
      Expenditures for fixed assets                    (1,615,912)   (1,502,770)
      Investment in marketable securities                   2,434      (170,963)
      Payments to former shareholders of
         subsidiary acquired                              (35,770)      (60,186)
                                                      -----------   -----------
Net cash used in investing activities                  (2,729,288)   (2,243,138)
                                                      -----------   -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
      Net proceeds from bank borrowing                  2,975,775       583,701
      Payment for repurchase of shares                   (623,847)     (692,474)
      Proceeds from exercise of stock options
         and warrants                                     133,924       328,500
      Other                                                10,820        54,543
                                                      -----------   -----------
Net cash provided by financing activities               2,496,672       274,270
                                                      -----------   -----------

NET DECREASE IN CASH AND CASH EQUIVALENTS                 (75,980)   (2,518,398)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD            320,742     3,401,697
                                                      -----------   -----------

CASH AND CASH EQUIVALENTS, END OF PERIOD              $   244,762   $   883,299
                                                      ===========   ===========

See notes to consolidated financial statements



                                       -4-

<PAGE>

                 DEL GLOBAL TECHNOLOGIES CORP. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                                          Six Months Ended

                                                    ---------------------------
                                                    January 29,     January 30,
                                                       2000            1999
                                                    -----------     -----------

SUPPLEMENTAL DISCLOSURES OF CASH FLOW
   INFORMATION:

     Interest paid                                 $    109,321    $     75,698
                                                   ============    ============
     Income taxes paid                             $    832,360    $    419,469
                                                   ============    ============


SUPPLEMENTAL SCHEDULE OF INVESTING AND
   FINANCING ACTIVITIES:

      Investment in affiliate                      $  1,451,348
      Compensation cost of warrant issued              (218,702)
      Investment costs in accrued expense              (152,606)
                                                   ------------
      Net cash invested in affiliate               $  1,080,040
                                                   ============


      Acquisition of selected assets                               $  1,309,219
      Payment due under acquisition term note                          (800,000)
                                                                   ------------
      Net cash paid to acquire selected assets                     $    509,219
                                                                   ============






  See notes to consolidated financial statements









                                       -5-

<PAGE>

                 DEL GLOBAL TECHNOLOGIES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (Unaudited)

NOTE 1         In  the  opinion  of  management,   the  accompanying   unaudited
               consolidated   financial   statements   contain  all  adjustments
               (consisting of only normal  recurring  adjustments)  necessary to
               present fairly the results of the Company's financial position as
               of January  29, 2000 and the  results of its  operations  and its
               cash flows for the six months ended  January 29, 2000 and January
               30, 1999.

               The accounting  policies followed by the Company are set forth in
               Note 1 to the Company's financial statements as of July 31, 1999.

               The  consolidated   financial   statements   should  be  read  in
               conjunction with the notes to the financial statements as of July
               31, 1999.

               Certain  reclassifications  have been made in the prior  period's
               financial  statements  to  correspond  to  the  current  period's
               presentation.

NOTE           2 The results of operations  for the three and six-month  periods
               ended  January 29,  2000 are not  necessarily  indicative  of the
               results to be expected for the full year.

NOTE 3         INVESTMENTS

               Investments  available-for-sale  at January 29, 2000 and July 31,
               1999  include  $1,301,296  and  $1,201,065,respectively,  for the
               Company's  President's  deferred  compensation  and  certain  key
               executives.  At January 29, 2000 and July 31,  1999,  $45,085 and
               $213,411,  respectively,  were  classified as cash and $1,256,211
               and $1,146,009,  respectively,  were recorded as investments. The
               liabilities  of  $1,301,296  and  $1,201,065,  respectively,  are
               recorded as deferred compensation liability.  Gains and losses on
               the investments  held to fund the deferred  compensation,  either
               recognized  or  unrealized,  inure to the benefit or detriment of
               the  President's or key  executives'  deferred  compensation.  At
               January 29, 2000 and July 31,  1999,  the balance of  investments
               available-for-sale  of $34,207 and  $146,843,  respectively,  are
               equity  securities  held by the  Company  for  its  own  account.
               Realized and unrealized  gains and losses on these securities for
               the periods  ended January 29, 2000 and January 30, 1999 were not
               material and are recorded in the financial statements.

NOTE 4         PERCENTAGE OF COMPLETION ACCOUNTING

                                                      January 29,      July 31,
                                                         2000            1999
                                                      -----------    -----------

               Costs incurred on

                  uncompleted contracts               $17,331,810    $15,012,158

               Estimated earnings                      10,939,263      9,329,220
                                                      -----------    -----------
                                                       28,271,073     24,341,378

               Less billings to date                   19,482,902     17,938,846
                                                      -----------    -----------
               Costs and estimated
                  earnings in excess of billings
                  on uncompleted contracts            $ 8,788,171    $ 6,402,532
                                                      ===========    ===========


               The backlog of unshipped  contracts being accounted for under the
               percentage of completion  method of accounting was  approximately
               $3.6 million at January 29, 2000.

                                       -6-

<PAGE>

NOTE 5         INVENTORY

               Inventory is stated at the lower of cost (first-in, first-out) or
               market.

               Inventories  and their effect on cost of sales are  determined by
               physical count for annual reporting purposes and are estimated by
               management for interim reporting purposes.

               Inventory consists of the following:
                                                       January 29,    July 31,
                                                          2000          1999
                                                       -----------   -----------

               Finished goods                          $ 7,921,344   $ 5,414,095
               Work-in-process                          17,245,195    14,814,766
               Raw material and purchased parts         12,526,817    16,370,726
                                                       -----------   -----------

               Total                                   $37,693,356   $36,599,587
                                                       ===========   ===========

NOTE 6         FIXED ASSETS

               Fixed assets consist of the following:

                                                       January 29,     July 31,
                                                          2000           1999
                                                       -----------    ----------

               Land                                    $   694,046   $   694,046
               Building                                  2,200,742     2,161,025
               Machinery and equipment                  17,696,398    16,446,086
               Furniture and fixtures                    1,569,579     1,435,929
               Leasehold improvements                    2,373,106     2,180,873
               Transportation equipment                     30,103        30,103
                                                       -----------   -----------
                                                        24,563,974    22,948,062

               Less accumulated depreciation

                  and amortization                       9,426,463     8,280,002
                                                       -----------   -----------

               Net fixed assets                        $15,137,511   $14,668,060
                                                       ===========   ===========

 NOTE 7        INVESTMENT IN AFFILIATE

               On December  28,  1999,  the Company  obtained a 19%  interest in
               Villa Sistemi Medicali S.p.A.  ("Villa") located in Milan, Italy,
               for a six-year  warrant to purchase  50,000  shares of Del Global
               Technologies  Corp.  common stock at the fair market price on the
               date  of  issuance.  This  warrant  is  valued  at  approximately
               $219,000 using the Black-Scholes method as prescribed by SFAS No.
               123, "Accounting for Stock-Based  Compensation." In addition, the
               associated transaction costs of this investment are approximately
               $340,000. The investment is accounted for at cost. Further, Villa
               management  has granted to the Company an  exclusive  irrevocable
               option  to  purchase  an  additional  61% of the  shares of Villa
               within 60 days after the  Company  receives  certified  financial
               statements of Villa for the year ended December 31, 1999.

               On January 3,  2000,  the  Company  contributed  $892,000  to the
               charter  capital  of Villa in  consideration  for a pledge by the
               Villa  management of their majority  ownership of the outstanding
               shares of Villa. On the same date, Villa management  collectively
               contributed $108,000 to the charter capital of Villa.

NOTE 8         SEGMENTS

               The Company adopted SFAS No. 131,  "Disclosures about Segments of
               an Enterprise and Related Information", during the fourth quarter
               of the  year  ended  July 31,  1999.  SFAS  No.  131  establishes
               standards for reporting  information about operating  segments in
               annual  financial  statements and requires  selected  information
               about operating segments in interim financial statements. It also
               establishes  standards for related disclosures about products and
               services,   major  customers  and  geographic  areas.   Operating
               segments are defined as components of an

                                       -7-

<PAGE>

               enterprise   about  which  separate   financial   information  is
               available  that is  evaluated  regularly  by the  chief  decision
               maker,  or decision  making  group,  in deciding  how to allocate
               resources  and in  assessing  performance.  The  Company's  chief
               operating  decision  making  group  is  comprised  of  the  Chief
               Executive  Officer  and the senior  executives  of the  Company's
               operating segments.

               The Company has two reportable segments which are Medical Imaging
               Systems and Critical Electronic  Subsystems.  The Medical Imaging
               Systems    Segment    designs,     manufactures    and    markets
               state-of-the-art,  cost-effective  medical imaging and diagnostic
               systems  consisting of stationary and portable  imaging  systems,
               radiographic/fluoroscopic  systems,  mammography  systems  a neo-
               natal imaging  system and dental  imaging  systems.  The Critical
               Electronic  Subsystems Segment designs,  manufactures and markets
               proprietary  precision  power  conversion  and  electronic  noise
               suppression subsystems for medical as well as critical industrial
               applications.

               Selected financial data of these segments is as follows:

<TABLE>
<CAPTION>

                                                              Medical       Critical
                                                              Imaging      Electronic
                                                              Systems      Subsystems      Total
                                                            -----------   -----------   -----------
               For the Six Months Ended January 29, 2000:
               <S>                                          <C>           <C>           <C>
               Net sales to external customers              $17,532,787   $15,629,586   $33,162,373
                                                            ===========   ===========   ===========
               Income before provision for income taxes     $ 1,597,431   $ 3,135,805   $ 4,733,236
                                                            ===========   ===========   ===========
               Segment assets                               $12,635,506   $77,458,957   $90,094,463
                                                            ===========   ===========   ===========
</TABLE>

<TABLE>
<CAPTION>

                                                              Medical       Critical
                                                              Imaging      Electronic
                                                              Systems      Subsystems      Total
                                                            -----------   -----------   -----------
               For the Six Months Ended January 30, 1999:
               <S>                                          <C>           <C>           <C>
               Net sales to external customers              $16,179,691   $14,551,927   $30,731,618
                                                            ===========   ===========   ===========
               Income before provision for income taxes     $ 1,684,027   $ 2,712,394   $ 4,396,421
                                                            ===========   ===========   ===========
               Segment assets                               $10,848,887   $68,166,063   $79,014,950
                                                            ===========   ===========   ===========
</TABLE>

                                       -8-

<PAGE>

Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

This  Management  Discussion and Analysis of Financial  Condition and Results of
Operations contains forward looking statements.  Such statements involve various
risks that may cause actual results to differ  materially.  These risks include,
but are not  limited to, the  ability of the  Company to grow  internally  or by
acquisition  and  to  integrate  acquired   businesses,   changing  industry  or
competitive   conditions,   and  other  risks   referred  to  in  the  Company's
registration  statements  and periodic  reports  filed with the  Securities  and
Exchange Commission.

OVERVIEW

                 The  Company's  net sales  have  increased  as a result of both
internal growth and acquisitions. The Company has completed five acquisitions in
the past six years:  Dynarad (a designer  and  manufacturer  of medical  imaging
systems and critical  electronic  subsystems) in fiscal 1993; Bertan (a designer
and  manufacturer  of precision high voltage power supplies and  instrumentation
for  medical  and  industrial   applications)  in  fiscal  1994;  Gendex-Del  (a
manufacturer of medical  imaging  systems) in fiscal 1996;  X-Ray  Technologies,
Inc.  (a  manufacturer  of medical  imaging  systems)  in fiscal  1998 and Acoma
Medical Imaging Inc. (a designer and manufacturer of medical imaging systems) in
fiscal 1999.

                 During the past five years the Company has grown internally and
through  acquisitions into a company whose  predominant  business is serving the
medical imaging and diagnostic markets.  The Company's net sales attributable to
medical imaging products have increased from approximately  $14.4 million or 44%
of total net sales in fiscal 1995 to approximately $49.2 million or 72% of total
net sales in fiscal 1999.

                 Management  believes that recent cost containment trends in the
healthcare  industry have created  opportunities for its cost-effective  medical
imaging products in domestic and international markets. Some of these trends are
increased  demand for lower cost medical  equipment,  the outsourcing of systems
and critical electronic  subsystems by leading original equipment  manufacturers
("OEMs"),  increased  demand for certain  diagnostic  procedures  and lower cost
medical services in the global marketplace.

RESULTS OF OPERATIONS

                 Net sales for the three  months  ended  January  29,  2000 were
approximately  $17.5 million as compared to approximately  $15.9 million for the
three months ended January 29, 1999, an increase of approximately 10%. Net sales
for the six months ended  January 29, 2000 were  approximately  $33.2 million as
compared to  approximately  $30.7  million for the six months ended  January 30,
1999,  an increase of  approximately  8%.  These  increases  are due to internal
growth from existing operations.

                 Cost of  sales,  as a  percentage  of net  sales  for the three
months  ended  January  29,  2000,  was  59.7%  compared  to 58.5% for the prior
corresponding  period.  Cost of sales,  as a percentage of net sales for the six
months  ended  January  29,  2000,  was  59.5%  compared  to 58.5% for the prior
corresponding period. These increases are due to a change in product mix in both
periods.

                 Research and  development  expenses  were $1.7 million and $1.5
million for the three-month periods ended January 29, 2000 and January 30, 1999,
respectively, an increase of 12%. Research and development expenses increased to
approximately  $3.3  million  for the six months  ended  January  29,  2000 from
approximately  $3.0  million  for the six months  ended  January  30,  1999,  an
increase of 10%. The increase was primarily due to new product development.  The
Company  continues to invest in research and  development  in order to introduce
new state-of-the-art products for its medical and industrial markets.

                 Selling, general and administrative expenses were approximately
$2.7  million for  three-month  periods  ended  January 29, 2000 and January 30,
1999,  respectively,  or 15.5%  and  17.3% of net  sales,  a  decrease  of 1.8%.
Selling, general and administrative expenses were approximately $5.3 million, or
16% of

                                       -9-

<PAGE>

net  sales,   for  the  six  months  ended  January  29,  2000  as  compared  to
approximately  $5.4 million,  or 17.5% of net sales,  for the same period in the
prior year, a decrease of 1.2%.

                 Net interest  expense was  approximately  $83,000 for the three
months  ended  January 29, 2000 as  compared  to  approximately  $16,000 for the
corresponding  period in the prior year. Net interest expense was  approximately
$145,000 for the six months ended January 29, 2000 as compared to  approximately
$23,000 for the corresponding  period in the prior year. This increase is due to
both higher interest rates and higher levels of long-term debt for both periods.

                 Income tax expense was 30.4% of pretax income for the three and
six months  ended  January 29,  2000 and 31% for the three and six months  ended
January 30, 1999.  The decrease from  statutory  rates is primarily due to sales
being made  through  the  Company's  Foreign  Sales  Corporation,  research  and
development and other tax credits.

                 Net income  increased  to  approximately  $1.8  million for the
three months ended  January 29,  2000,  an increase of 10.2% from  approximately
$1.6 million for the prior  corresponding  period.  Basic  earnings per share at
January 29, 2000 increased to $.23 from $.21 at January 30, 1999, an increase of
9.5%. Diluted earnings per share increased to $.22 at January 29, 2000 from $.20
at January 30, 1999, an increase of 10.0%.  The weighted number of common shares
outstanding increased to 7,813,017 at January 29, 2000 from 7,648,308 at January
30,  1999  and  the  number  of  common  shares  and  common  share  equivalents
outstanding decreased to 8,163,980 at January 29, 2000 from 8,205,600 at January
30, 1999. Net income increased to approximately  $3.3 million for the six months
ended January 29, 2000, an increase of 8.6% from  approximately $3.0 million for
the prior  corresponding  period.  Basic  earnings per share at January 29, 2000
increased  to $.42 from $.40 at January 30, 1999,  an increase of 5.0%.  Diluted
earnings  per share  increased  to $.40 at January 29, 2000 from $.37 at January
30, 1999, an increase of 8.1%. The weighted number of common shares  outstanding
increased to  7,799,511  at January 29, 2000 from  7,648,361 at January 30, 1999
and the  number  of common  shares  and  common  share  equivalents  outstanding
decreased to  8,167,878 at January 29, 2000 from  8,174,078 at January 30, 1999.
These increases in net income for the three and six-month  periods ended January
29, 2000 were primarily due to higher sales.

                 The  backlog  of  unshipped  orders  at  January  29,  2000 was
approximately $45 million.

LIQUIDITY AND CAPITAL RESOURCES

                 The Company has funded its operations and acquisitions  through
a combination of cash flow from operations,  bank borrowings and the issuance of
the Company's common stock.

                 Working  Capital.  At January 29, 2000 and July 31,  1999,  the
Company's  working  capital was  approximately  $52.6 million and $47.8 million,
respectively. At such dates the Company had approximately $245,000 and $321,000,
respectively, in cash and cash equivalents.

                 Cost  and   estimated   earnings   in  excess  of  billings  on
uncompleted  contracts  increased to  approximately  $8.8 million at January 29,
2000 from  approximately  $6.4 million at July 31, 1999 due to  additional  work
performed in the six-month period on long-term contracts accounted for under the
percentage of completion method of accounting.

                 Inventory  at January 29,  2000  increased  approximately  $1.1
million as compared to July 31, 1999 primarily because of higher sales levels of
major medical OEM contracts.

                 Prepaid  expenses and other current  assets at January 29, 2000
increased approximately $662,000 as compared to July 31, 1999 were primarily due
to  additional  expenses  related to  increased  acquisition  activity,  prepaid
advertising and show expenses and prepaid insurance.

                 On December  28, 1999,  the Company  obtained a 19% interest in
Villa Sistemi Medicali S.p.A.  ("Villa") located in Milan,  Italy for a six-year
warrant to purchase 50,000 shares of Del Global  Technologies Corp. common stock
at the fair  market  price on the date of  issuance.  This  warrant is valued at
approximately

                                      -10-

<PAGE>

$219,000  using  the  Black-Scholes  method  as  prescribed  by  SFAS  No.  123,
"Accounting  for  Stock-Based   Compensation."   In  addition,   the  associated
transaction costs of this investment are approximately $340,000.  Further, Villa
management  has  granted  to the  Company  an  exclusive  irrevocable  option to
purchase  an  additional  61% of the  shares of Villa  within 60 days  after the
Company  receives  certified  financial  statements  of Villa for the year ended
December 31, 1999.

                 Credit Facility and Borrowing.  At January 29, 2000 the Company
had a $14.0 million revolving credit line and a $10.0 million acquisition credit
line. The available portion of the revolving credit line was approximately $10.8
million,  after deducting outstanding letters of credit of approximately $24,000
and $7.5 million was available under its acquisition credit line.

                 Long-term debt increased approximately $2.9 million as compared
to July 31, 1999,  primarily due to the investment in Villa,  annual payment for
the  selected  assets  purchased in December  1998,  additional  investments  in
capital equipment and additional working capital requirements.

                 The Company anticipates that cash generated from operations and
amounts  available  under its bank  lending  facilities  will be  sufficient  to
satisfy its currently projected operating cash needs.

                 Capital  Expenditures.  The  Company  continues  to  invest  in
capital  equipment,  principally for its manufacturing  operations,  in order to
improve its  manufacturing  capability  and  capacity.  The Company has expended
approximately  $1.6 for capital equipment for the six-month period ended January
29, 2000.

                 Shareholders'   Equity.   Shareholders'   equity  increased  to
approximately $69.7 million at January 29, 2000 from approximately $66.4 million
at July 31,  1999,  primarily  due to the results of  operations.  Additionally,
during the period 99,333 stock options were exercised, with proceeds of $133,925
and 79,453 shares of common stock were  repurchased  at a cost of  approximately
$624,000.

                 Year  2000.  To  date,  the  Company  has not  encountered  any
significant  effects  of the year 2000  issue  either  internally  or with third
parties. The Company cannot guarantee that problems will not occur in the future
or have not yet been detected.

EFFECTS OF NEW ACCOUNTING PRONOUNCEMENTS

                 Disclosures   about   Derivative    Instruments   and   Hedging
Activities.  In June  1998,  the FASB  issued  SFAS  No.  133,  "Accounting  for
Derivative  Instruments  and  Hedging  Activities."  SFAS  No.  133  establishes
accounting  and  reporting  standards  for  derivative  instruments  and hedging
activities.  SFAS No. 133 is  effective  for all fiscal  years  beginning  after
December 15, 1999.  Management does not anticipate that this statement will have
any effect on the Company's consolidated financial statements.

Item 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
         ----------------------------------------------------------

                 Not applicable.


                                      -11-

<PAGE>

                                     PART II

Item 1.   Legal Proceedings

                    None

Item 2.   Changes in Securities

                    None

Item 3.   Defaults on Senior Securities

                    None

Item 4.   Submission to a Vote of Security Holders

                    At the annual meeting of stockholders of the Company held on
                    February 10, 2000, the stockholders:

                    (a)  Elected  the  following  directors:   Natan V. Bertman,
                         David Michael, Seymour Rubin, James Tiernan, Leonard A.
                         Trugman and Roger J. Winston.

                         Election of Directors        For         Withheld
                         ---------------------     ---------      --------

                         Leonard A. Trugman        7,199,865       261,550
                         Natan V. Bertman          7,207,930       253,485
                         David Michael             7,210,756       250,659
                         Seymour Rubin             7,209,209       252,206
                         James Tiernan             7,206,724       254,691
                         Roger J. Winston          7,229,474       231,941

                    (b)  Approved the proposal to increase by 750,000 the number
                         of shares of common stock  reserved for issuance  under
                         the Company's Amended and Restated Stock Option Plan.

                                      For           Against        Abstain
                                   ---------       ---------       -------
                                   4,494,801       1,464,268        40,761

Item 5.   Other Information

                    None

Item 6.   Exhibits and Reports on Form 8-K

               (a)  Exhibits:  Exhibit 4.1 -  Warrant  Certificate  of  Laurence
                                              Hirschhorn

                               Exhibit 4.2 -  Warrant  Certificate   of   Steven
                                              Anreder

                               Exhibit 4.3 -  Warrant   Agreement  and   Warrant
                                              Certificate of USB Capital S.p.A
                               Exhibit 11  -  Computation of Earnings per Common
                                              Share

                               Exhibit 27  -  Financial Data Schedule

               (b)  Report on Form 8-K:   None

                                      -12-

<PAGE>

                                   SIGNATURES

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

                                                   DEL GLOBAL TECHNOLOGIES CORP.



                                                   /S/LEONARD A. TRUGMAN
                                                   ---------------------
                                                   Leonard A. Trugman
                                                   Chairman of the Board,
                                                   Chief Executive Officer
                                                   and President




                                                   /S/MICHAEL H. TABER
                                                   ---------------------
                                                   Michael H. Taber
                                                   Chief Financial Officer,
                                                   Vice President of Finance
                                                   and Secretary



Dated: March 13, 2000







                                      -13-