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| DELAWARE                                                                            | 72-0925679                                |
|-------------------------------------------------------------------------------------|-------------------------------------------|
| (State      or other jurisdiction of incorporation      or  organization) | (I.R.S.      employer identification no.) |

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|  PART I - FINANCIAL      INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  1  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|             Item      1.  Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  1  |
|                   Consolidated      Balance Sheet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  1  |
|                   Consolidated      Statements of Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  2  |
|                   Consolidated      Statements of Cash Flows                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |  3  |
|                   Notes to the      Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  4  |
|             Item      2.  Management's Discussion and Analysis of Financial Condition      and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                             |  6  |
|             Item 3. Quantitative      and Qualitative Disclosure About Market Risks                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  10 |
|             Item 4. Controls and      Procedures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  10 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |     |
|  PART II - OTHER      INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  11 |
|             Item      6.  Exhibits                                                                                     |  11 |
|  SIGNATURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  11 |

|    |   |                                                                                                       |   |
|---------|--------|------------------------------------------------------------------------------------------------------------|--------|
| Exhibit | 31.1   | Certification of Chief Executive Officer      pursuant to section 302 of the Sarbanes-Oxley Act of    2002 | X-1    |
| Exhibit | 31.2   | Certification of Chief Financial Officer      pursuant to section 302 of the Sarbanes-Oxley Act of    2002 | X-2    |
| Exhibit | 32.1   | Certification of Chief Executive Officer      pursuant to section 906 of the Sarbanes-Oxley Act of    2002 | X-3    |
| Exhibit | 32.2   | Certification of Chief Financial Officer      pursuant to section 906 of the Sarbanes-Oxley Act of    2002 | X-4    |
|    |   |                                                                                                       |   |

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PART I - FINANCIAL INFORMATION

Item 1.  Consolidated Financial Statements

Consolidated Balance Sheets

| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | March      31, 2010 |       |   | December      31,2009 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|------------|--------|-----------------------|--------|
| Current      assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (Unaudited)         |       |   | (Audited)             |   |
| Cash and cash      equivalents                                                                                                                                                          |   | $                   | 3,154,288  |   |                  | $      | 3,674,179 |   |
| Trade and other accounts      receivable, net of allowance fordoubtful accounts of $64,976      and      $49,976                                                                                                      |   |                | 4,222,544  |   |                  |   | 3,818,538 |   |
| Inventories,      net                                                                                                                                                                   |   |                | 3,378,060  |   |                  |   | 2,956,682 |   |
| Deferred income taxes,      net                                                                                                                                                         |   |                | 66,000     |   |                  |   | 22,500 |   |
| Prepaid      tax                                                                                                                                                                        |   |                | 49,289     |   |                  |   | 123,789 |   |
| Deposits, prepaid expenses and      other current      assets                                                                                                                           |   |                | 238,485    |   |                  |   | 147,243 |   |
| Total current      assets                                                                                                                                                                              |   |                | 11,108,666 |   |                  |   | 10,742,931 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                |       |   |                  |   |   |   |
| Property      and equipment, net of accumulated depreciation of$10,683,341 and      $10,361,928                                                                                         |   |                | 6,462,346  |   |                  |   | 6,343,575 |   |
| Goodwill                                                                                                                                                                 |   |                | 1,564,966  |   |                  |   | 1,564,966 |   |
| Other      intangible assets,      net                                                                                                                                   |   |                | 88,400     |   |                  |   | 95,887 |   |
| Total      assets                                                                                                                                                                       |   | $                   | 19,224,378 |   |                  | $      | 18,747,349 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                |       |   |                  |   |   |   |
| LIABILITIES      AND SHAREHOLDERS’ EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                |       |   |                  |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                |       |   |                  |   |   |   |
| Current      liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                |       |   |                  |   |   |   |
| Accounts      payable                                                                                                                                                                   |   | $                   | 1,992,904  |   |                  | $      | 1,543,700 |   |
| Accrued      expenses                                                                                                                                                                   |   |                | 294,668    |   |                  |   | 276,903 |   |
| Total current      liabilities                                                                                                                                                                         |   |                | 2,287,572  |   |                  |   | 1,820,603 |   |
| Long      term liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                |       |   |                  |   |   |   |
| Long      term deferred tax liability,      net                                                                                                                                         |   |                | 383,000    |   |                  |   | 350,000 |   |
| Long      term portion of deferred gain on      lease                                                                                                                                   |   |                | 21,218     |   |                  |   | 22,347 |   |
| Total long term      liabilities                                                                                                                                                                       |   |                | 404,218    |   |                  |   | 372,347 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                |       |   |                  |   |   |   |
| Total    liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                | 2,691,790  |   |                  |   | 2,192,950 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                |       |   |                  |   |   |   |
| Shareholders’      equity:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                |       |   |                  |   |   |   |
| Preferred stock, $1 par value;      2,000,000 shares authorized, none issued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                | -          |   |                  |   | - |   |
| Common stock, $0.01 par value;      10,000,000 shares authorized,3,926,491      shares issued, 2,675,481      outstanding                                                                                   |   |                | 39,265     |   |                  |   | 39,265 |   |
| Additional      paid-in-capital                                                                                                                                                         |   |                | 10,354,299 |   |                  |   | 10,317,403 |   |
| Common stock held in treasury,      1,251,010 shares at cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                | (3,413,742 | )      |                  |   | (3,413,742 | ) |
| Retained      earnings                                                                                                                                                                  |   |                | 9,552,766  |   |                  |   | 9,611,483 |   |
| Total shareholders’      equity                                                                                                                                                                  |   |                | 16,532,588 |   |                  |   | 16,554,409 |   |
| Total liabilities and      shareholders’      equity                                                                                                                                             |   | $                   | 19,224,378 |   |                  | $      | 18,747,359 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                |       |   |                  |   |   |   |

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ConsolidatedStatements of Income

|                                                           |   | Three months endedMarch 31, |      |   |
|----------------------------------------------------------------|--------|-----------------------------|-----------|--------|
|                                                           |   | 2010                        |      |   | 2009 |   |   |
| Revenue                                                        |   | $                           | 5,585,360 |   |   | $ | 4,683,454 |   |
| Cost      of sales                                             |   |                        | 4,601,212 |   |   |   | 3,739,132 |   |
| Gross profit                                                   |   |                        | 984,148   |   |   |   | 944,322 |   |
| Selling      and marketing                                     |   |                        | 157,989   |   |   |   | 150,449 |   |
| General      and administrative                                |   |                        | 603,997   |   |   |   | 575,505 |   |
| Research      and development                                  |   |                        | 55,673    |   |   |   | 68,758 |   |
| Total expense                                                  |   |                        | 817,659   |   |   |   | 794,712 |   |
| Income from operations                                         |   |                        | 166,489   |   |   |   | 149,610 |   |
| Other      income (expense), net                               |   |                        | 122       |   |   |   | (13,836 | ) |
| Income      before income taxes                                |   |                        | 166,611   |   |   |   | 135,774 |   |
| Income      tax provision                                      |   |                        | 64,000    |   |   |   | 54,000 |   |
| Net income                                                     |   | $                           | 102,611   |   |   | $ | 81,774 |   |
| Net      income per share – basic                        |   | $                           | 0.04      |   |   | $ | 0.03 |   |
| Net      income per share – diluted                      |   | $                           | 0.04      |   |   | $ | 0.03 |   |
| Weighted      average common sharesOutstanding – basic   |   |                        | 2,675,481 |   |   |   | 2,688,291 |   |
| Weighted      average common sharesOutstanding – diluted |   |                        | 2,707,864 |   |   |   | 2,688,291 |   |

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ConsolidatedStatements of Cash Flows

|                                                                                                                     |   | Three Months EndedMarch 31, |      |
|--------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|-----------|
|                                                                                                                     |   | 2010                        |      |   | 2009 |   |
| Cash      flows from operating activities:                                                                               |   |                        |      |   |   |   |
| Net income                                                                                                               |   | $                           | 102,611   |   |   | $ | 81,774 |   |
|  Adjustments      to reconcile net income to net cash provided by    operating      activities: |   |                        |      |   |   |   |   |   |
| Depreciation and      amortization                                                                                       |   |                        | 345,529   |   |   |   | 346,628 |   |
| Share based compensation                                                                                                 |   |                        | 36,896    |   |   |   | 32,270 |   |
| Provision for doubtful      accounts                                                                                     |   |                        | 15,000    |   |   |   | 6,000 |   |
| Deferred tax assets                                                                                                      |   |                        | (10,500   | ) |   |   | (15,500 | ) |
| Changes in operating assets and      liabilities:                                                                        |   |                        |      |   |   |   |   |   |
| Trade and other accounts      receivable                                                                                 |   |                        | (419,006  | ) |   |   | (515,967 | ) |
| Inventories                                                                                                              |   |                        | (421,378  | ) |   |   | (91,408 | ) |
| Deposits, prepaid expenses and      other assets                                                                         |   |                        | (21,036   | ) |   |   | 244,085 |   |
| Accounts payable and accrued      expenses                                                                               |   |                        | 465,840   |   |   |   | 311,102 |   |
| Net cash provided by operating      activities                                                                           |   |                        | 93,956    |   |   |   | 398,984 |   |
|  Cash      flows from investing activities:                                                                         |   |                        |      |   |   |   |   |   |
| Capital expenditures, net of      disposals                                                                              |   |                        | (452,519  | ) |   |   | (193,932 | ) |
| Net cash used in investing      activities                                                                               |   |                        | (452,519  | ) |   |   | (193,932 | ) |
|  Cash      flows from financing activities:                                                                         |   |                        |      |   |   |   |   |   |
| Payments on acquisition note      payable                                                                                |   |                        | -         |   |   |   | (23,548 | ) |
| Cash dividend paid                                                                                                       |   |                        | (161,328  | ) |   |   | - |   |
| Net cash used in financing      activities                                                                               |   |                        | (161,328  | ) |   |   | (23,548 | ) |
|                                                                                                                     |   |                        |      |   |   |   |   |   |
| Net      increase (decrease) in cash and cash equivalents                                                                |   |                        | (519,891  | ) |   |   | 181,504 |   |
|                                                                                                                     |   |                        |      |   |   |   |   |   |
| Cash      and cash equivalents at beginning of period                                                                    |   |                        | 3,674,179 |   |   |   | 2,320,467 |   |
| Cash      and cash equivalents at end of period                                                                          |   | $                           | 3,154,288 |   |   | $ | 2,501,971 |   |
|                                                                                                                     |   |                        |      |   |   |   |   |   |

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Notes to theConsolidated Financial Statements

| Inventories      consist of the following as of: |   | March      31,2010 |      |   | December      31, 2009 |   |
|--------------------------------------------------|--------|--------------------|-----------|--------|------------------------|--------|
| Raw materials                                    |   | $                  | 1,097,823 |   |                   | $      | 1,043,228 |   |
| Work-in-process                             |   |               | 375,046   |   |                   |   | 243,360 |   |
| Finished goods                                   |   |               | 1,905,191 |   |                   |   | 1,679,094 |   |
|      Total              |   | $                  | 3,378,060 |   |                   | $      | 2,956,682 |   |

|                                  | Three      Months Ended March 31,                                                                                                                                     |
|---------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                  | 2010                                                                                                                                                                  |
| Dividend      Yield                   | 0%                                                                                                                                                                    |
| Expected      Volatility              |         31.18%                                                                                                                                              |
| Risk      Free Interest Rate          |           1.36%                                                                                                                                   |
| Expected      Option Terms (in years) |                                 4.5 |

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| Exercise      Price                 | Number      of Outstanding Shares | Weighted      Average Remaining Contractual Life (years) | Options      Currently Exercisable | Average      Fair Value at Grant Date |
|-------------------------------------|-----------------------------------|----------------------------------------------------------|------------------------------------|---------------------------------------|
|   $   3.41 | 75,500                            | 5.76                                                     | --                                 | $  0.96                     |
| 7.15                                | 96,000                            | 3.76                                                     | 38,400                             |          2.74          |
| 9.86                                | 63,000                            | 1.72                                                     | 63,000                             |         4.22                |
|  12.42                         | 10,000                            | 2.35                                                     |        6,000                  |        5.38                      |
|  23.10                         | 10,000                            | 2.93                                                     |        6,000                  | 10.77                                 |

|                                 | Non-Vested Options    |
|--------------------------------------|-----------------------|
|                                 | Number      of Shares | Weighted      Average Fair Value |
| Non-vested      at December 31, 2009 | 86,800                | $  3.42 |
| Granted                              | 75,500                |         0.96 |
| Vested                               | (21,200)              |         3.50 |
| Forfeited                            | -                     | - |
| Non-vested      at March 31, 2010    | 141,100               |                $  2.09 |

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Item 2.  Management's Discussion and Analysis of FinancialCondition and Results of Operations

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|               |   | Three      Months Ending March 31, |      |
|--------------------|--------|------------------------------------|-----------|
|               |   | 2010                               |      |   | % |   |   | 2009 |   |   | % |   |
| United      States |   | $                                  | 3,108,220 |   |   |   | 55 |   |   | $ | 2,615,989 |   |   |   | 56 |   |
| Canada             |   |                               | 1,340,010 |   |   |   | 24 |   |   |   | 946,678 |   |   |   | 20 |   |
| Europe             |   |                               | 489,162   |   |   |   | 9 |   |   |   | 801,546 |   |   |   | 17 |   |
| Pacific      Rim   |   |                               | 391,296   |   |   |   | 7 |   |   |   | 151,430 |   |   |   | 3 |   |
| Other              |   |                               | 256,672   |   |   |   | 5 |   |   |   | 167,811 |   |   |   | 4 |   |
| Total              |   | $                                  | 5,585,360 |   |   |   | 100 |   |   | $ | 4,683,454 |   |   |   | 100 |   |

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Item 3. Quantitative and Qualitative Disclosure About MarketRisks

Item 4. Controls and Procedures

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PART II - OTHER INFORMATION

Item 6.  Exhibits

| (a)                 | Exhibits |
|-----------------------------------------------------------------------|----------|

|   | 3.1 | Amended      and Restated By-laws(b) |
|--------|-----|--------------------------------------|

|   | 10.43* | Employment      agreement between James E. Rouse and the Company dated December 26th,      2006.(c) |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | 10.44* | Employment      agreement between David A. Garrison and the Company dated January 1st,      2007.(d) |
|--------|--------|------------------------------------------------------------------------------------------------------|

|   | 31.1 | Certification      of the CEO pursuant to Rule 13a-14(a) or Rule 15(d)-14(a) on page      X-1. |
|--------|------|------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification      of the CFO pursuant to Rule 13a-14(a) or Rule 15(d)-14(a) on page      X-2. |
|--------|------|------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification      pursuant to 18 U.S.C. §1350 as adopted pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002 on pageX-3. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | Certification      pursuant to 18 U.S.C. §1350 as adopted pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002 on pageX-4. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | __________________________ |
|--------|----------------------------|

|   | *      Indicates a management contract or compensatory plan required to be filed      as an exhibit. |
|--------|------------------------------------------------------------------------------------------------------|

| (a)                | Incorporated      by reference from the Company’s Registration Statement on Form S-18 as      filed with the Commission in April 1988, Registration Statement No.      33-20945-FW. |
|-----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)                | Incorporated      by reference from the Company’s Form 8-K as filed with the Commission      May 8, 2009. |
|-----------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|

| (c)                | Incorporated      by reference from the Company’s Form 8-K as filed with the Commission on      December 8, 2006. |
|-----------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| (d)                | Incorporated      by reference from the Company’s Form 10-KSB for period ended December 31,      2006 as filed with the Commission in March of  2007. |
|-----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

SIGNATURES

|             | ARRHYTHMIA      RESEARCH TECHNOLOGY, INC.                                               |
|------------------|----------------------------------------------------------------------------------------------|
| May      4, 2010 | By:        /s/      James E. Rouse    |
|             | James E. Rouse                                                                               |
|             | President and Chief Executive      Officer                                                   |
|             | (Principal Executive      Officer)                                                      |
|             | By:       /s/      David A. Garrison                      |
|             | David A.  Garrison                                                                           |
|             | Executive Vice President and      Chief Financial Officer                                    |
|             | (Principal Financial and      Accounting Officer)                                            |

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| Number | Exhibit | Page |
|--------|---------|------|

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