SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 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 Quarter Ended April 4, 1998.

    [   ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
          Exchange Act of 1934.

                         Commission File Number 1-14262


                             THERMOQUEST CORPORATION
             (Exact name of Registrant as specified in its charter)

    Delaware                                                       77-0407461
    (State or other jurisdiction of                          (I.R.S. Employer
    incorporation or organization)                        Identification No.)

    2215 Grand Avenue Parkway
    Austin, Texas                                                  78728-3812
    (Address of principal executive offices)                       (Zip Code)


       Registrant's telephone number, including area code: (781) 622-1000

           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
           latest practicable date.

                    Class                 Outstanding at May 1, 1998
         ----------------------------     --------------------------
         Common Stock, $.01 par value             51,208,704
PAGE
<PAGE>
    PART I - FINANCIAL INFORMATION

    Item 1 - Financial Statements
    -----------------------------


                             THERMOQUEST CORPORATION

                           Consolidated Balance Sheet
                                   (Unaudited)

                                     Assets


                                                     April 4,     January 3,
    (In thousands)                                       1998           1998
    ------------------------------------------------------------------------
    Current Assets:
      Cash and cash equivalents (includes $84,117
        and $60,376 under repurchase agreement
        with affiliated company)                     $110,035       $ 91,898
      Accounts receivable, less allowances of
        $4,110 and $4,361                              94,200         96,541
      Inventories:
        Raw materials and supplies                     20,819         17,174
        Work in process and finished goods             49,317         49,215
      Prepaid expenses                                  3,052          2,490
      Prepaid income taxes                             12,550         12,542
      Due from parent company and affiliated
        companies                                           -            750
                                                     --------       --------
                                                      289,973        270,610
                                                     --------       --------

    Property, Plant, and Equipment, at Cost            88,785         89,316
      Less: Accumulated depreciation and
            amortization                               24,100         22,580
                                                     --------       --------
                                                       64,685         66,736
                                                     --------       --------
    Patents and Other Assets                            3,867          2,845
                                                     --------       --------
    Cost in Excess of Net Assets of Acquired
      Companies                                       251,933        255,435
                                                     --------       --------
                                                     $610,458       $595,626
                                                     ========       ========



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                             THERMOQUEST CORPORATION

                     Consolidated Balance Sheet (continued)
                                   (Unaudited)

                    Liabilities and Shareholders' Investment


                                                     April 4,     January 3,
    (In thousands except share amounts)                  1998           1998
    ------------------------------------------------------------------------
    Current Liabilities:
      Notes payable and current maturities of
        long-term obligations                        $  9,094       $  7,147
      Accounts payable                                 26,162         24,151
      Accrued payroll and employee benefits            13,008         19,541
      Accrued installation and warranty expenses       10,618          9,991
      Accrued income taxes                             26,063         21,331
      Deferred revenue                                 11,427          9,939
      Customer deposits                                 3,621          5,193
      Other accrued expenses                           14,162         16,907
      Due to parent company and affiliated
        companies                                       5,536              -
                                                     --------       --------
                                                      119,691        114,200
                                                     --------       --------
    Deferred Income Taxes                               7,503          7,503
                                                     --------       --------
    Accrued Pension and Other Deferred Items           14,884         15,064
                                                     --------       --------
    Long-term Obligations:
      5% Subordinated convertible debentures           80,591         80,591
      Other                                             7,200          7,489
                                                     --------       --------
                                                       87,791         88,080
                                                     --------       --------
    Shareholders' Investment:
      Common stock, $.01 par value, 100,000,000
        shares authorized; 51,201,627 and
        51,185,127 shares issued                          512            512
      Capital in excess of par value                  303,096        302,881
      Retained earnings                                89,539         78,229
      Treasury stock at cost, 507 and 340 shares           (9)            (6)
      Accumulated other comprehensive item (Note 3)   (12,549)       (10,837)
                                                     --------       --------
                                                      380,589        370,779
                                                     --------       --------
                                                     $610,458       $595,626
                                                     ========       ========


    The accompanying notes are an integral part of these consolidated
    financial statements.

                                        3PAGE
<PAGE>
                             THERMOQUEST CORPORATION

                        Consolidated Statement of Income
                                  (Unaudited)


                                                      Three Months Ended
                                                   ------------------------
                                                   April 4,       March 29,
   (In thousands except per share amounts)             1998            1997
   ------------------------------------------------------------------------
   Revenues                                        $108,118        $ 89,353
                                                   --------        --------

   Costs and Operating Expenses:
     Cost of revenues                                55,373          46,963
     Selling, general, and administrative
       expenses                                      26,031          21,160
     Research and development expenses                7,865           6,222
     Gain on sale of property                          (756)              -
                                                   --------        --------
                                                     88,513          74,345
                                                   --------        --------

   Operating Income                                  19,605          15,008

   Interest Income (includes $186 and $67 from
     related parties)                                 1,338           2,604
   Interest Expense (includes $248 to related
     parties in 1997)                                (1,444)         (2,095)
                                                   --------        --------
   Income Before Provision for Income Taxes          19,499          15,517
   Provision for Income Taxes                         8,189           6,634
                                                   --------        --------
   Net Income                                      $ 11,310        $  8,883
                                                   ========        ========
   Earnings per Share (Note 2):
     Basic                                         $    .22        $    .18
                                                   ========        ========
     Diluted                                       $    .21        $    .18
                                                   ========        ========

   Weighted Average Shares (Note 2):
     Basic                                           51,190          48,586
                                                   ========        ========
     Diluted                                         56,331          54,602
                                                   ========        ========


   The accompanying notes are an integral part of these consolidated
   financial statements.

                                        4PAGE
<PAGE>
                             THERMOQUEST CORPORATION

                      Consolidated Statement of Cash Flows
                                  (Unaudited)


                                                      Three Months Ended
                                                  -------------------------
                                                   April 4,       March 29,
   (In thousands)                                      1998            1997
   ------------------------------------------------------------------------
   Operating Activities:
     Net income                                   $  11,310       $   8,883
     Adjustments to reconcile net income to
       net cash provided by (used in) operating
       activities:
         Depreciation and amortization                3,570           2,689
         Gain on sale of property                      (756)              -
         Provision for losses on accounts
           receivable                                  (111)            177
         Other noncash expenses                         257             361
         Changes in current accounts, excluding
           the effects of acquisitions:
             Accounts receivable                      1,337         (17,576)
             Inventories                             (3,250)         (1,359)
             Other current assets                      (598)           (309)
             Accounts payable                         2,614           8,285
             Other current liabilities               (4,212)         (6,322)
         Other                                          352             271
                                                  ---------       ---------
   Net cash provided by (used in) operating
     activities                                      10,513          (4,900)
                                                  ---------       ---------
   Investing Activities:
     Acquisition of product line                     (1,300)              -
     Refund from parent company for acquisitions      5,953               -
     Cash balance of acquired businesses                  -           6,107
     Purchases of property, plant, and equipment     (1,072)           (544)
     Proceeds from sale of property, plant,
       and equipment                                  1,453              28
     Other                                                -             (40)
                                                  ---------       ---------
   Net cash provided by investing activities          5,034           5,551
                                                  ---------       ---------
   Financing Activities:
     Net proceeds from issuance of Company
       common stock                                     211          24,834
     Increase in short-term obligations               2,118           6,865
     Repayment of long-term obligations                (395)           (629)
                                                  ---------       ---------
   Net cash provided by financing activities      $   1,934       $  31,070
                                                  ---------       ---------

                                        5PAGE
<PAGE>
                             THERMOQUEST CORPORATION

                Consolidated Statement of Cash Flows (continued)
                                   (Unaudited)


                                                       Three Months Ended
                                                   ------------------------
                                                    April 4,      March 29,
    (In thousands)                                      1998           1997
    ------------------------------------------------------------------------
    Exchange Rate Effect on Cash                   $     656      $    (771)
                                                   ---------      ---------
    Increase in Cash and Cash Equivalents             18,137         30,950 
    Cash and Cash Equivalents at Beginning
      of Period                                       91,898        174,978
                                                   ---------      ---------
    Cash and Cash Equivalents at End of Period     $ 110,035      $ 205,928
                                                   =========      =========
    Noncash Activities:
      Fair value of assets of acquired companies   $   1,300      $ 186,669
      Cash paid for acquired companies                (1,300)             -
      Due to parent company for acquisitions               -       (165,146)
      Stock issuable to parent company for 
        acquired companies                                 -            (16)
                                                   ---------      ---------
        Liabilities assumed of acquired companies  $       -      $  21,507
                                                   =========      =========


    The accompanying notes are an integral part of these consolidated
    financial statements.









                                        6PAGE
<PAGE>
                             THERMOQUEST CORPORATION


                   Notes to Consolidated Financial Statements

   1.  General

       The interim consolidated financial statements presented have been
   prepared by ThermoQuest Corporation (the Company) without audit and, in
   the opinion of management, reflect all adjustments of a normal recurring
   nature necessary for a fair statement of the financial position at April
   4, 1998, the results of operations for the three-month periods ended
   April 4, 1998, and March 29, 1997, and the cash flows for the three-month
   periods ended April 4, 1998, and March 29, 1997. Interim results are not
   necessarily indicative of results for a full year.

       The consolidated balance sheet presented as of January 3, 1998, has
   been derived from the consolidated financial statements that have been
   audited by the Company's independent public accountants. The consolidated
   financial statements and notes are presented as permitted by Form 10-Q
   and do not contain certain information included in the annual financial
   statements and notes of the Company. The consolidated financial
   statements and notes included herein should be read in conjunction with
   the financial statements and notes included in the Company's Annual
   Report on Form 10-K for the fiscal year ended January 3, 1998, filed with
   the Securities and Exchange Commission.

   2.  Earnings per Share

       Basic and diluted earnings per share were calculated as follows:

                                                         Three Months Ended
                                                       ---------------------
                                                       April 4,    March 29,
   (In thousands except per share amounts)                 1998         1997
   -------------------------------------------------------------------------
   Basic
   Net income                                          $ 11,310     $  8,883
                                                       --------     --------
   Weighted average shares                               51,190       48,586
                                                       --------     --------
   Basic earnings per share                            $    .22     $    .18
                                                       ========     ========
   Diluted
   Net income                                          $ 11,310     $  8,883
   Effect of convertible obligations                        594          710
                                                       --------     --------
   Income available to common shareholders,
     as adjusted                                       $ 11,904     $  9,593
                                                       --------     --------
   Weighted average shares                               51,190       48,586
   Effect of:
     Convertible obligations                              4,884        5,833
     Stock options                                          257          183
                                                       --------     --------
   Weighted average shares, as adjusted                  56,331       54,602
                                                       --------     --------

   Diluted earnings per share                          $    .21     $    .18
                                                       ========     ========

                                        7PAGE
<PAGE>
                             THERMOQUEST CORPORATION


   2.  Earnings per Share (continued)

       The computation of diluted earnings per share excludes the effect of
   assuming the exercise of certain outstanding stock options because the
   effect would be antidilutive. As of April 4, 1998, there were 823,750 of
   such options outstanding, with exercise prices ranging from $16.60 to
   $17.01 per share.

   3.  Comprehensive Income

       During the first quarter of 1998, the Company adopted Statement of
   Financial Accounting Standards (SFAS) No. 130, "Reporting Comprehensive
   Income." This pronouncement sets forth requirements for disclosure of the
   Company's comprehensive income and accumulated other comprehensive item.
   In general, comprehensive income combines net income and "other
   comprehensive item," which represents foreign currency translation
   adjustments, reported as a component of shareholders' investment in the
   accompanying balance sheet. During the first quarter of 1998 and 1997,
   the Company's comprehensive income totaled $9.6 million and $2.6 million,
   respectively.

   Item 2 - Management's Discussion and Analysis of Financial Condition and
   ------------------------------------------------------------------------
            Results of Operations
            ---------------------

       Forward-looking statements, within the meaning of Section 21E of the
   Securities Exchange Act of 1934, are made throughout this Management's
   Discussion and Analysis of Financial Condition and Results of Operations.
   For this purpose, any statements contained herein that are not statements
   of historical fact may be deemed to be forward-looking statements.
   Without limiting the foregoing, the words "believes," "anticipates,"
   "plans," "expects," "seeks," "estimates," and similar expressions are
   intended to identify forward-looking statements. There are a number of
   important factors that could cause the results of the Company to differ
   materially from those indicated by such forward-looking statements,
   including those detailed under the heading "Forward-looking Statements"
   in Exhibit 13 to the Company's Annual Report on Form 10-K for the year
   ended January 3, 1998, filed with the Securities and Exchange Commission.

   Overview

       The Company's Analytical Products Group develops, manufactures,
   sells, and services instruments, including mass spectrometers, liquid
   chromatographs, and gas chromatographs. These analytical instruments are
   used in the quantitative and qualitative chemical analysis of chemical
   compounds at ultratrace levels of detection. The  Company's Scientific
   Equipment Group develops, manufactures, sells, and services systems for
   the preparation and preservation of chemical samples. In addition, the
   Company manufactures consumables for the chromatography industry. The
   Company's products are used primarily by pharmaceutical companies for
   drug research, testing, and quality control; by environmental
   laboratories for testing water, air, and soil samples for compliance with
   environmental regulations; by chemical companies for research and quality
   control; by manufacturers for testing in certain industrial applications,
   such as the manufacture of silicon chips, and for quality control; by 

                                        8PAGE
<PAGE>
                             THERMOQUEST CORPORATION


   Overview (continued)

   food and beverage companies for quality control and to test for product
   contamination; and in forensic applications.

       The Company sells its products worldwide. Although the Company seeks
   to charge its customers in the same currency as its operating costs, the
   Company's financial performance and competitive position can be affected
   by currency exchange rate fluctuations. Where appropriate, the Company
   uses forward contracts to reduce its exposure to currency fluctuations.

   Results of Operations

   First Quarter 1998 Compared With First Quarter 1997
   ---------------------------------------------------

       Revenues increased 21% to $108.1 million in the first quarter of 1998
   from $89.4 million in the first quarter of 1997. Revenues from the
   Scientific Equipment Group increased $23.3 million due to the acquisition
   of three business units within Life Sciences International PLC's
   Laboratory Products Group, as well as Life Sciences' Hypersil operations,
   from Thermo Instrument Systems Inc., effective March 12, 1997. Revenues
   from the Analytical Products Group decreased $4.6 million, primarily due
   to the strengthening of the U.S. dollar relative to foreign currencies in
   countries in which the Company operates. Increases in revenues from
   Europe and North America were offset by a decrease in revenues of $7.0
   million from Japan due to the economic uncertainty in that country.

       The gross profit margin was 48.8% in the first quarter of 1998,
   compared with 47.4% in the first quarter of 1997. The 1997 period
   included an adjustment to expense of $1.0 million relating to the sale of
   inventories revalued on the date the Laboratory Products businesses were
   acquired.

       Selling, general, and administrative expenses as a percentage of
   revenues remained relatively unchanged at 24.1% in the first quarter of
   1998, compared with 23.7% in the first quarter of 1997. Research and
   development expenses as a percentage of revenues remained relatively
   unchanged at 7.3% in 1998, compared with 7.0% in 1997.

       In the first quarter of 1998, the Company recorded a gain of $0.8
   million relating to the sale of a parcel of land at its San Jose,
   California, manufacturing facility.

       Interest income decreased to $1.3 million in the first quarter of
   1998 from $2.6 million in the first quarter of 1997, primarily due to a  
   reduction in cash as a result of the cash payment of $160.4 million to
   Thermo Instrument in September 1997 for the acquisition of the Laboratory
   Products businesses and Hypersil. Interest expense decreased to $1.4
   million in 1998 from $2.1 million in 1997, primarily due to the repayment
   to Thermo Instrument in September 1997 of debt assumed in connection with
   the acquisition of the Laboratory Products businesses and the conversion
   of a portion of the Company's 5% subordinated convertible debentures into
   common stock of the Company.
                                        9PAGE
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                             THERMOQUEST CORPORATION


   First Quarter 1998 Compared With First Quarter 1997 (continued)
   ---------------------------------------------------

       The effective tax rate was 42% in the first quarter of 1998, compared
   with 43% in the first quarter of 1997. The effective tax rates exceeded
   the statutory federal income tax rate primarily due to the effect of
   state income taxes, foreign tax rate and tax law differentials, and
   nondeductible amortization of cost in excess of net assets of acquired
   companies.

   Liquidity and Capital Resources

       Consolidated working capital was $170.3 million at April 4, 1998,
   compared with $156.4 million at January 3, 1998. Included in working
   capital are cash and cash equivalents of $110.0 million at April 4, 1998,
   compared with $91.9 million at January 3, 1998. Cash provided by
   operating activities was $10.5 million in the first quarter of 1998. Cash
   of $4.2 million was used to reduce other current liabilities and cash of
   $3.3 million was used to fund an increase in inventories, primarily due
   to replenishing year-end levels at the Company's European sales offices. 

       At April 4, 1998, $19.9 million of the Company's cash and cash
   equivalents was held by its foreign subsidiaries. While this cash can be
   used outside of the United States, including for acquisitions,
   repatriation of this cash into the United States would be subject to
   foreign withholding taxes and could also be subject to a United States
   tax.

       The Company's investing activities provided $5.0 million of cash in
   the first quarter of 1998. The Company received an aggregate refund of
   $6.0 million from Thermo Instrument in connection with the acquisition of
   businesses from Thermo Instrument in 1997 and 1996. The Company expended
   $1.3 million for the acquisition of a product line and $1.1 million for
   purchases of property, plant, and equipment. The Company recorded $1.5
   million in proceeds from the sale of property, plant, and equipment,
   primarily from the sale of a parcel of land at the Company's San Jose,
   California, manufacturing facility. During the remainder of 1998, the
   Company plans to expend approximately $7.0 million for property, plant,
   and equipment.

       The Company's financing activities provided $1.9 million of cash in
   the first quarter of 1998, primarily due to an increase in short-term
   borrowings of $2.1 million.

       Although the Company expects to have positive cash flow from its
   existing operations, the Company anticipates it will require significant
   amounts of cash to pursue the acquisition of complementary businesses.
   The Company expects that it will finance acquisitions through a
   combination of internal funds, additional debt or equity financing from
   the capital markets, or short-term borrowings from Thermo Instrument or
   Thermo Electron Corporation, although there is no agreement with these
   companies to ensure that funds will be available on acceptable terms or
   at all. The Company believes that its existing resources are sufficient
   to meet the capital requirements of its existing businesses for the
   foreseeable future.

                                       10PAGE
<PAGE>
                             THERMOQUEST CORPORATION



   PART II - OTHER INFORMATION

   Item 6 - Exhibits
   -----------------

       See Exhibit Index on the page immediately preceding exhibits.






















                                       11PAGE
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                             THERMOQUEST CORPORATION


                                   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 as of the 8th day of May 1998.

                                          THERMOQUEST CORPORATION



                                          Paul F. Kelleher
                                          ---------------------------
                                          Paul F. Kelleher
                                          Chief Accounting Officer



                                          John N. Hatsopoulos
                                          ---------------------------
                                          John N. Hatsopoulos
                                          Chief Financial Officer
                                            and Senior Vice President













                                       12PAGE
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                             THERMOQUEST CORPORATION

                                 EXHIBIT INDEX


   Exhibit
   Number        Description of Exhibit
   ------------------------------------------------------------------------

     27          Financial Data Schedule.