SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-K/A
                                (Amendment No. 1)


      (Mark One)
[X]   ANNUAL REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE
      ACT OF 1934 (FEE REQUIRED)

      For the Fiscal Year Ended June 30, 1996

                                       OR

[ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
      EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

      For the transition period from               to


                           Commission File No. 0-12942


                               PARLEX CORPORATION
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


Massachusetts                          04-2464749
--------------------------------------------------------------------------------
(State or other jurisdiction of        (IRS Employer Identification Number)
incorporation or organization)


       145 Milk Street, Methuen, Massachusetts           01844
--------------------------------------------------------------------------------
       (Address of principal executive offices)       (Zip Code)


Registrant's telephone number, including area code:           508-685-4341
Securities registered pursuant to Section 12(b) of the Act:   None
Securities registered pursuant to Section 12(g) of the Act:


                                                       Name of exchange on
            Title of each Class                          which registered
            -------------------                        -------------------

       Common Stock ($.10 par value)                        NASDAQ

      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 by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.           [X]

      The aggregate market value of shares of the Registrant's Common Stock, par
value $.10 per share,  held by  non-affiliates of the Registrant at September 1,
1996  as  computed  by  reference  to  the  closing  price  of  such  stock  was
approximately $13,910,530.

      The number of shares of the Registrant's  Common Stock, par value $.10 per
share, outstanding at September 1, 1996 was 2,372,034 shares.

Documents Incorporated By Reference

      Portions of the definitive proxy statement to be filed with the Commission
within 120 days after the close of the fiscal year are incorporated by reference
into Part III of this report.


                                Page 1 of



                                   Signatures


      Pursuant  to the  requirements  of Section  13 or 15(d) 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.

Parlex Corporation

*/S/  Herbert W. Pollack
-----------------------------------------------------------
Herbert W. Pollack, Chairman and Chief Executive Officer

Date: January 14, 1997
-----------------------------------------------------------

      Pursuant to the  requirements  of the Securities Act of 1934,  this report
has been signed below by the following  persons on behalf of the  registrant and
in the capacities and on the dates indicated.

*/s/  Steven M. Millstein
-----------------------------------------------------------
Steven M. Millstein, Principal Accounting and Financial Officer

Date: January 14, 1997
      -----------------------------------------------------

*/s/  Sheldon A. Buckler
-----------------------------------------------------------
Sheldon A. Buckler, Director

*/s/  Richard W. Hale
-----------------------------------------------------------
Richard W. Hale, Director

*/s/  M. Joel Kosheff
-----------------------------------------------------------
M. Joel Kosheff, Director 

*/s/  Peter J. Murphy
-----------------------------------------------------------
Peter J. Murphy, Director

*/s/  Lester Pollack
-----------------------------------------------------------
Lester Pollack, Director

*/s/  Benjamin M. Rabinovici
-----------------------------------------------------------
Benjamin M. Rabinovici, Director

*/S/  Steven M. Millstein
-----------------------------------------------------------
* by Steven M. Millstein, Attorney-in-Fact

Date: January 17, 1997
      -----------------------------------------------------

      As of the date of  submission  of this filing,  no annual  report or proxy
material  with  respect to the fiscal  year ended June 30, 1996 has been sent to
the security holders. Such annual report and proxy material will be submitted to
the Commission at the time it is furnished to the security holders.



                                EXHIBIT INDEX

<TABLE>
<CAPTION>

Exhibit                      Description                          Page
-------                      -----------                          ----

<C>         <S>                                                   <C>

10-AN       License Agreement between Parlex Corporation and      37
            Polyclad Laminates, Inc., effective June 1, 1996.

</TABLE>