UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549




                                    FORM 10-Q

(Mark one)
[X]      QUARTERLY  REPORT  PURSUANT  TO SECTION  13 OR 15(d) OF THE  SECURITIES
         EXCHANGE ACT OF 1934

         For the quarterly period ended September 30, 2000

                                       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 0-19824


                      Nutrition Management Services Company
                      -------------------------------------
             (Exact name of registrant as specified in its charter)

      Pennsylvania                                     23-2095332
  ------------------------------------------------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

     Box 725, Kimberton Road, Kimberton, PA                19442
--------------------------------------------------------------------------------
  (Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code       (610) 935-2050

                                      N/A
--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if change 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  report),  and  (2)  has  been  subject  to such  filing
requirements for the past 90 days Yes /X/ No / /.

2,747,000  Shares of Registrant's  Class A Common Stock,  with no par value, and
100,000  shares of  Registrant's  Class B Common Stock,  with no par value,  are
outstanding as of November 12, 2000.


<PAGE>

                                TABLE OF CONTENTS


Part I.          Financial Information                                  Page No.
                 ---------------------                                  --------


                 Consolidated Balance Sheets of
                 September 30, 2000 (unaudited) and June 30, 2000       2 - 3

                 Consolidated Statements of Operations for the Three
                 Months Ended September 30, 2000 (unaudited) and
                 1999 (unaudited)                                       4

                 Consolidated Statements of Cash Flows for the Three
                 Months Ended September 30, 2000 (unaudited) and
                 1999 (unaudited)                                       5

                 Notes to Financial Statements                          6

                 Management's Discussion and Analysis of Financial Condition
                 and Results of Operations                              7 - 9

Part II.         Other Information                                      10

                 Signatures                                             11


                                      -1-

<PAGE>



                      NUTRITION MANAGEMENT SERVICES COMPANY

                           CONSOLIDATED BALANCE SHEETS

                                     ASSETS

<TABLE>
<CAPTION>

                                                                           September 30,       June 30,
                                                                             2000                2000
                                                                           (unaudited)

Current assets:
<S>                                                                         <C>             <C>
   Cash and cash equivalents                                                   $642,164       $1,134,720
   Accounts receivable, net of allowance for doubtful
      accounts of $1,008,272 and 853,005, respectively                        7,958,350        6,837,269
   Accrued Income                                                               441,815          595,228
   Deferred income taxes                                                        534,022          534,022
   Inventory                                                                    217,190          227,379
   Prepaid and other                                                            357,797          460,903
                                                                             ----------       ----------
Total current assets                                                         10,151,338        9,789,521
                                                                             ----------       ----------

Property and equipment, net                                                   9,460,457        9,570,651
                                                                             ----------       ----------
Construction in Progress                                                         28,410           12,810
                                                                             ----------       ----------

Other assets:
   Advances to employees                                                        324,178          302,221
   Deferred income taxes                                                        242,503          242,503
   Bond issue costs                                                             235,486          239,128
   Deferred costs and other assets                                               10,021           10,020
                                                                             ----------       ----------
                                                                                812,188          793,872
                                                                             ----------       ----------
Total other assets                                                          $20,452,393     $ 20,166,854
                                                                             ==========       ==========
</TABLE>


            See Notes to Unaudited Consolidated Financial Statements

                                      - 2 -
<PAGE>

                      NUTRITION MANAGEMENT SERVICES COMPANY

                           CONSOLIDATED BALANCE SHEETS

                      LIABILITIES AND STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>

                                                                                          September 30,         June 30,
                                                                                               2000               2000
                                                                                          (unaudited)

Current liabilities:
<S>                                                                                        <C>              <C>
     Accounts payable                                                                      $ 4,680,360      $ 3,970,660
     Accrued expenses                                                                          655,544          541,346
     Accrued payroll and related expenses                                                      374,859          350,547
     Accrued professional                                                                       39,626           48,450
     Accrued income taxes                                                                       44,639           18,466
     Current portion of long-term debt                                                         174,000          174,000
     Other                                                                                     173,703          131,953
                                                                                           -----------      -----------
Total current liabilities                                                                    6,142,731        5,235,422
                                                                                           -----------      -----------

Long-Term liabilities:
    Long-term debt, net of current portion                                                   6,134,657        6,598,668
    Long-term note payable                                                                   1,319,869        1,404,116
    Other                                                                                       19,823           26,414
                                                                                           -----------      -----------
Total long-term liabilities                                                                  7,474,349        8,029,198
                                                                                           -----------      -----------


Stockholders' equity:
    Undesignated preferred stock - no par, 2,000,000 shares authorized, none
            issued or outstanding                                                                -----            -----

     Common stock:
     Class A - no par, 10,000,000 shares authorized; 3,000,000 issued
             2,747,000 and 2,747,000 outstanding, respectively                               3,801,926        3,801,926
     Class B - no par, 100,000 shares authorized, issued and outstanding                            48               48
     Retained earnings                                                                       3,532,902        3,599,823
                                                                                             ---------        ---------
                                                                                             7,334,876        7,401,797

     Less:  treasury stock (Class A common: 253,000 and 253,000
       shares, respectively) - at cost                                                        (499,563)        (499,563)
                                                                                             ---------        ---------
Total stockholders' equity                                                                   6,835,313        6,902,234
                                                                                             ---------        ---------
                                                                                          $ 20,452,393     $ 20,166,854
                                                                                          ============     ============
</TABLE>

            See Notes to Unaudited Consolidated Financial Statements

                                      - 3 -

<PAGE>

                      NUTRITION MANAGEMENT SERVICES COMPANY

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                           Three months ended
                                                                             September 30,
                                                                       2000                 1999
<S>                                                                <C>                  <C>
Food Service Revenue                                               $12,192,563          $9,782,518

Cost of Operations
Payroll and related expenses                                         3,755,366           4,024,940
     Other costs of operations                                       6,455,074           4,002,323
                                                                   -----------          ----------
          Cost of operations                                        10,210,440           8,027,263
                                                                   -----------          ----------

Gross Profit                                                         1,982,123           1,755,255
                                                                   ------------         ----------

Expenses
     General and administrative expenses                             1,563,123           1,586,681
     Depreciation and amortization                                     156,272             205,263
      Provision for doubtful accounts                                  180,000              80,000
                                                                   -----------          ----------
           Expenses                                                  1,899,395           1,871,944
                                                                   -----------          ----------

Income/(Loss) from operations                                           82,728            (116,689)
                                                                   -----------          ----------

Other income (expense)
     Other                                                               6,115             22,764
     Interest income                                                    12,160             18,913
     Interest expense                                                 (144,591)          (138,430)
                                                                   -----------          ----------
            Other income (expense) - net                              (126,316)           (96,753)
                                                                   -----------          ----------

 Loss before income taxes                                              (43,588)          (213,442)

Provision for income taxes                                              23,334             10,000
                                                                   -----------          ----------

Net loss                                                              ($66,922)         ($223,442)
                                                                   -----------          ----------

Net loss per share - basic and diluted                                  ($0.02)            ($0.08)
                                                                   ===========          ==========

Weighted average number of shares                                    2,847,000          2,847,000
                                                                   ===========          ==========
</TABLE>



            See Notes to Unaudited Consolidated Financial Statements

                                       -4-
<PAGE>


                      Nutrition Management Services Company
                      Consolidated Statement of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                                       Three Months -Ended
                                                                                          September 30,
                                                                                      2000            1999

Operating activities:
<S>                                                                                <C>                   <C>
Net loss                                                                           ($66,922)             ($223,442)
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
     Depreciation and amortization                                                  146,039                205,263
     Provision for bad debts                                                        180,000                 (6,592)
     Amortization of deferred gain                                                   (6,591)                80,000
     Amortization of bond costs                                                       3,642                  3,641
Changes in assets and liabilities:
     Accounts receivable                                                         (1,301,081)             1,243,988
     Accrued Income                                                                 153,413               (143,149)
     Inventory and other                                                            113,295                (50,620)
     Accounts payable                                                               709,700                  7,080
     Accrued expenses                                                               114,198                 50,268
     Accrued payroll and related expenses                                            24,312                 12,807
     Accrued professional                                                            (8,824)               (30,139)
     Accrued incomes taxes                                                           26,173                 12,181
     Other                                                                           41,750                (16,018)
                                                                                 ----------              ---------
Net cash provided by operating activities                                           129,104              1,145,268
                                                                                 ----------              ---------

Investing activities:
     Repayment (Advances) to employees                                              (21,957)                38,086
     Purchase of property and equipment, (net)                                      (51,445)              (168,501)
     Deferred costs                                                                       0                  4,712
                                                                                 ----------              ---------
Net cash (used in) investing activities                                             (73,402)              (125,703)
                                                                                 ----------              ---------

Financing activities:
     Repayments of long-term debt                                                (1,150,000)                -----
     Repayments of long-term note payable third party debt                          (84,294)                -----
     Repayments of term loan                                                        (13,964)                -----
     Proceeds from line of credit                                                   700,000                 -----
                                                                                 ----------              ---------
Net cash (used in) financing activities                                            (548,258)                -----
                                                                                 ----------              ---------
     Net increase(decrease) in cash                                                (492,556)             1,019,565
                                                                                 ----------              ---------

Cash and cash equivalents - beginning of period                                   1,134,720                 43,282

Cash and cash equivalents - end of period                                         $ 642,164             $1,062,847
                                                                                  =========             ==========
Supplemental disclosure of cash flow information:
Cash paid during the period for:

     Interest                                                                       $90,721              $136,028
     Income taxes                                                                      $200                $3,300
</TABLE>


            See Notes to Unaudited Consolidated Financial Statements

                                      - 5 -

<PAGE>

                      NUTRITION MANAGEMENT SERVICES COMPANY

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                                September 30,2000


1.               Basis of Presentation

                 The accompanying  unaudited  consolidated  financial statements
                 were prepared in accordance with generally accepted  accounting
                 principles  for interim  financial  information  for  quarterly
                 reports on Form 10-Q and, therefore,  do not include all of the
                 information  and  footnotes   required  by  generally  accepted
                 accounting   principles  for  complete  financial   statements.
                 However, all adjustments that, in the opinion of management are
                 necessary for fair  presentation  of the financial  statements,
                 have been  included.  The results of operations for the interim
                 periods presented are not necessarily indicative of the results
                 that may be expected for the entire fiscal year ending June 30,
                 2001.  The financial  information  presented  should be read in
                 conjunction with the Company's  financial  statements that were
                 filed under Form 10-K.

2.               Earnings Per Common Share

                 Earnings   per   common   share   amounts   are  based  on  the
                 weighted-average  number of shares of common stock  outstanding
                 during the  three-month  period  ending  September 30, 2000 and
                 1999.  Stock  options and warrants did not impact  earnings per
                 share each period as they were anti-dilutive.

3.               Litigation

                 In the normal course of its business, the Company is exposed to
                 asserted and unasserted  claims.  In the opinion of management,
                 the  resolution  of these  matters  will  not  have a  material
                 adverse effect on the Company's financial position,  results of
                 operations or cash flows.

                 During 1998,  the Company  adopted the  provisions  of SFAS No.
                 123,  Earnings Per Share,  which  eliminates  primary and fully
                 diluted  earning per share and requires  presentation  of basic
                 and  diluted   earnings  per  share  in  conjunction  with  the
                 disclosure of the  methodology  used in computing such earnings
                 per share.  Basic earnings per share  excludes  dilution and is
                 computed by dividing income available to common shareholders by
                 the  weighted  average  common  shares  outstanding  during the
                 period.  Diluted  earnings  per share  takes into  account  the
                 potential  dilution  that could  occur if  securities  or other
                 contracts to issue common stock were  exercised  and  converted
                 into common stock.


                                      - 6 -

<PAGE>

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

                 The  following  discussion  and  analysis  should  be  read  in
conjunction with the financial statements and notes thereto.

Results of Operations

                 Revenues  for  the  quarter  ended   September  30,  2000  were
$12,192,563,  an  increase  of  $2,410,045  or 24.6%  compared  to  revenues  of
$9,782,518 in the corresponding quarter last year. The increases are a result of
new contracts and growth within existing contracts, offset by contracts canceled
during the period.

         Cost of operations  provided for the current  quarter was  $10,210,440,
compared to  $8,027,263  for similar  expenses in the same period last year,  an
increase of $2,183,177 or 27.2%.  These increases in costs of services  provided
are due to increased operating and start up costs associated with new business.

                  Gross  Profit for the  quarter  was  $1,982,123,  compared  to
$1,755,255,  an increase of $226,868 or 12.9%. As a percentage of revenue, gross
profit  decreased from 17.9% to 16.2%.  This decrease is due to direct  expenses
increasing at a greater percentage than revenues.


                 General and administrative  expenses for the quarter were 12.8%
of  revenue,  compared  to 16.2% of revenue for the same  quarter  last year,  a
decrease  of $23,558 or 1.5%.  The  decrease  is the result of the  general  and
administrative expenses remaining constant while revenue increased over 1999.

                 Interest   expense   for   the   three-month   period   totaled
$144,591compared  to $138,430  for the same period  last year.  The  increase in
interest  expense is  attributable  to an increase in interest rates offset by a
decrease in borrowings.

                 Net loss after taxes for the quarter  ended  September 30, 2000
was ($66,922)  compared to ($223,442) for the  corresponding  quarter last year.
Net loss per share for the current quarter was ($0.02)  compared to net loss per
share of ($0.08) for the same quarter last year. The decrease in current quarter
net loss and  earnings  per share are  primarily  the result of the  increase in
revenues for the current quarter.



                                      - 7 -


<PAGE>


Liquidity and Capital Resources

                 At  September  30,  2000 the  Company  had  working  capital of
$4,008,607.

                 Operating Activities. Cash provided by operations for the three
months ended September 30, 2000 was $129,104 compared to $1,145,268  provided by
operations for the three months ended September 30, 1999. An increase in current
liabilities  and noncash items of  $1,430,185  offset by an increase in accounts
receivable of $1,301,081  was primarily  responsible  for the current  quarter's
activity.

                 Investing Activities.  Investing activities consumed $73,402 in
cash in the current  quarter  compared to $125,703 in cash  consumed in the same
period last year.  This use of cash is associated  with the purchase of property
and equipment.

                 Financing  Activities.  Current  quarter  financing  activities
consumed $548,258 in cash compared to $-0-consumed in the same period last year.
Net  repayments to the line of credit of $450,000 and long term debt of  $98,258
is responsible for the use of cash.

                 Capital  Resources.  The Company has certain credit  facilities
with its bank including a line of credit and two industrial revenue bond issues.
The  Company  obtained  two  series of  Industrial  Development  Bonds  totaling
$3,560,548 in December 1996. The Company is current with all its  obligations to
its  Bank  and on its  bonds  and has met all  financial  covenants  in its loan
documents except those that were specifically waived by the bank.

                 A substantial  portion of the Company's  revenues are dependent
upon the payment of its fees by customer healthcare  facilities,  that, in turn,
are dependent upon third-party  payers such as state  governments,  Medicare and
Medicaid. Delays in payment by third-party payers,  particularly state and local
governments, may lead to delays in collection of accounts receivable.

                 The   Company   has  no   material   commitments   for  capital
expenditures,  including the Collegeville Inn & Conference  Center, and believes
that  its  cash  from  operations,   existing  balances,  and  available  credit
facilities are adequate for the  foreseeable  future to satisfy the needs of its
operations.




                                       -8-

<PAGE>


Forward Looking Statements

This form 10-Q contains forward-looking statements within the meaning of Section
27A of the  Securities Act of 1933, as amended and Section 21E of the Securities
Exchange  Act of 1934,  as amended,  that are intended to be covered by the safe
harbors  created  thereby.  Investors  are  cautioned  that all  forward-looking
statements  involve risks and uncertainty,  including  without  limitation,  the
adequacy of the Company's cash from operations,  existing balances and available
credit line.  Although the Company believes that the assumptions  underlying the
forward-looking   statements  contained  herein  are  reasonable,   any  of  the
assumptions could be inaccurate,  and therefore,  there can be no assurance that
the  forward-looking  statements  included  in this Form  10-Q will  prove to be
accurate. In light of significant  uncertainties inherent in the forward-looking
statements  included  herein,  the inclusion of such  information  should not be
regarded  as a  representation  by the  Company  or any  other  person  that the
objectives and plans of the Company will be achieved.






                                      - 9 -
<PAGE>


                           PART II - OTHER INFORMATION


Item 1.     Legal Proceedings                                            None

Item 2.     Changes in Securities                                        None

Item 3.     Defaults Upon Senior Securities                              None

Item 4.     Submission of Matters to a Vote of Security Holders          None

Item 5.     Other Information                                            None

Item 6.     Exhibits and Reports on Form 8-K

            (a)  Exhibits                                          Exhibit 27

            (b)  Reports on Form 8-K                                     None





                                     - 10 -

<PAGE>


                                   SIGNATURES


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



                                          Nutrition Management Services Company


                                          /s/ Joseph V. Roberts
                                          -------------------------------
                                          Joseph V. Roberts
                                          Chairman and Chief Executive Officer



Date:  November 20, 2000




                                     - 11 -