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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 10-Q


                    QUARTERLY REPORT UNDER SECTION 13 OF THE

                         SECURITIES EXCHANGE ACT of 1934


For Quarter ended April 30, 1999

Commission file number: 0-6056

                           Michigan Rivet Corporation
             -----------------------------------------------------
             (exact name of registrant as specified in its charter)

        Michigan                                         38-1887153
------------------------                    ------------------------------------
(State of Incorporation)                    (I.R.S. Employer Identification No.)

                      13201 Stephens Road; Warren, MI 48089
                    ----------------------------------------
                    (Address of Principal Executive Offices)

Registrant's telephone number, including area code:  (810) 754-5100
                                                     --------------


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  XX    NO
                                 ------    ------


There were 638,525 outstanding shares of the registrant's common stock, $1.00
par value, as of April 30, 1999, close of the period covered by this report.


                                                                               1

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MICHIGAN RIVET CORPORATION

NOTE TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


NOTE A - BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been

prepared in accordance with generally accepted accounting principles for interim

financial information and with the instructions to Form 10-Q and Rule 10-01 of

Regulation S-X. Accordingly, they do not include all of the information and

footnotes required by generally accepted accounting principles for complete

financial statements. In the opinion of management, all adjustments (consisting

of normal recurring accruals) considered necessary for a fair presentation have

been included. Operating results for the interim periods are not necessarily

indicative of the results that may be expected for the year. For further

information, refer to the consolidated financial statements and footnotes

thereto included in the Company's Annual Report on Form 10-K for the year ended

October 31, 1998.


                                                                               2

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PART I.  FINANCIAL INFORMATION                                         FORM 10-Q

ITEM 1.  FINANCIAL STATEMENTS

MICHIGAN RIVET CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

<TABLE>
<CAPTION>

                                            ASSETS
                                                           APRIL 30,                OCTOBER 31,
                                                             1999                       1998
                                                          -----------               -----------
<S>                                                       <C>                       <C>
Current Assets:
  Cash............................................        $    83,893               $    92,125
  Accounts receivable, less allowance of $50,000..          6,003,864                 6,575,512
  Inventories.....................................          5,580,804                 6,087,804
  Deferred federal income taxes...................            647,639                   647,639
  Prepaid expenses and other current assets.......            246,090                   253,734
                                                          -----------               -----------
                        TOTAL CURRENT ASSETS......         12,562,290                13,656,814

Other Assets......................................          1,048,662                 1,048,662

Property, Plant and Equipment.....................         26,950,388                26,296,996
  Less accumulated depreciation...................         15,844,903                15,242,603
                                                          -----------               -----------
                                                           11,105,485                11,054,393
                                                          -----------               -----------
                                                          $24,716,437               $25,759,869
                                                          ===========               ===========

            LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
  Notes payable to bank...........................        $         0               $   848,000
  Accounts payable................................          5,287,614                 5,224,035
  Payroll and employee benefits...................            674,137                 1,394,722
  Other accrued expenses..........................            214,228                   576,914
  Current maturities of long-term debt............            299,061                   299,061
                                                          -----------               -----------
                        TOTAL CURRENT LIABILITIES           6,475,040                 8,342,732

Long-Term Debt....................................          1,904,165                 2,058,572

Accrued Retiree Health Liability..................          4,055,619                 3,967,643

Shareholders' Equity
  Common stock - $1 par value
         Authorized - 1,000,000 shares
         Outstanding - 638,525 shares.............            638,525                   638,525
  Other capital...................................            117,403                   117,403
  Retained earnings...............................         11,525,685                10,634,994
                                                          -----------               -----------
                                                           12,281,613                11,390,922
                                                          -----------               -----------
                                                          $24,716,437               $25,759,869
                                                          ===========               ===========
</TABLE>

See notes to condensed consolidated financial statements.

                                                                               3

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                                                                       FORM 10-Q


MICHIGAN RIVET CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                     (UNAUDITED)




<TABLE>
<CAPTION>

                                                      THREE MONTHS ENDED                    SIX MONTHS ENDED
                                                           APRIL 30                             APRIL 30
                                                    -------------------------          --------------------------
                                                       1999           1998                1999           1998
                                                    -----------   -----------          -----------    -----------
<S>                                                 <C>           <C>                  <C>            <C>
Net sales ......................................    $12,494,045   $12,352,755          $23,148,846    $22,880,907

Cost and expenses:
  Cost of products sold ........................     10,498,406    10,361,255           19,585,704     19,401,622
  Selling, administrative
         and general expenses ..................        909,036       913,258            1,772,270      1,770,142
  Interest expense .............................         64,922        69,625              132,853        137,971
                                                    -----------   -----------          -----------    -----------
                                                     11,472,364    11,344,138           21,490,827     21,309,735
                                                    -----------   -----------          -----------    -----------
         Income before
           Income taxes ........................      1,021,681     1,008,617            1,658,019      1,571,172

Income taxes ...................................        346,000       344,000              563,000        535,000
                                                    -----------   -----------          -----------    -----------
         Net income ............................    $   675,681   $   664,617          $ 1,095,019    $ 1,036,172
                                                    ===========   ===========          ===========    ===========

Net Income per share ...........................       $   1.05      $   1.04             $   1.71       $   1.62
                                                       ========      ========             ========       ========

Dividends per share ............................       $    .12      $    .12             $    .32       $    .24
                                                       ========      ========             ========       ========
</TABLE>


See notes to condensed consolidated financial statements.


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                                                                       FORM 10-Q
MICHIGAN RIVET CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF
      CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>

                                                                                             Six Months Ended
                                                                                                 April 30
                                                                                       -----------------------------
                                                                                           1999             1998
                                                                                       -----------       -----------

<S>                                                                                    <C>               <C>
OPERATING ACTIVITIES
  Net income .....................................................................     $ 1,095,019       $ 1,036,172
  Adjustments to reconcile net income to net cash
    used in operating activities:
         Depreciation ............................................................         632,300           564,200
         Accrued retiree health liability ........................................          87,976           192,238
         Cash provided from (used in) changes in
           operating assets and liabilities:
             Accounts receivable .................................................         571,648          (325,924)
             Inventories .........................................................         507,000          (912,000)
             Prepaid expenses and other current assets ...........................           7,644            35,000
             Accounts payable & other accrued expenses ...........................      (1,019,692)         (189,447)
                                                                                       -----------       -----------
                  NET CASH PROVIDED BY
                   OPERATING ACTIVITIES ..........................................       1,881,895           400,239

INVESTING ACTIVITIES
  Acquisition of property, plant and equipment ...................................        (683,392)       (1,711,877)

FINANCING ACTIVITIES
  Net increase (decrease) in short-term debt .....................................        (848,000)        1,105,000
  Payments on long-term debt .....................................................        (154,407)         (186,619)
  Dividends paid .................................................................        (204,328)         (152,474)
                                                                                       -----------       -----------
                  NET CASH USED IN FINANCING
                   ACTIVITIES ....................................................      (1,206,735)          765,907
                                                                                       -----------       -----------
                  INCREASE (DECREASE) IN CASH ....................................          (8,232)         (545,731)

Cash at beginning of period ......................................................          92,125           660,398
                                                                                       -----------       -----------
                  CASH AT END OF PERIOD ..........................................     $    83,893       $   114,667
                                                                                       ===========       ===========
</TABLE>



See notes to condensed consolidated financial statements.









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


MICHIGAN RIVET CORPORATION


Results of Operations

Net sales in the quarter ended April 30, 1999 of $12,494,000 increased $141,000,

or 1% from the sales reported in the comparable period a year ago. The increase

in sales resulted from new orders and adjusted automotive production levels. The

net profit for the quarter ended April 30, 1999 was $676,000 vs. a net profit of

$665,000 in the comparable period a year ago.


The cost of sales percentage for the current fiscal year quarter remained the

same as the comparable period a year ago.


Selling, general and administrative expenses were the same 7.4% of sales for

this period and for the previous year comparable period.


Interest expense decreased $5,000 due primarily to the lower borrowing base and

interest rates.


For the first six months of 1999, net sales of $23,149,000 were 1.2% greater

than the same period in 1998, due primarily to higher automotive production

schedules and new orders. The net profit for the first six months of 1999 was

$1,095,000 vs. a net profit of $1,036,000 in the comparable period a year ago.

The cost of sales was 84.6% as compared to 84.8% for the prior year. This was

primarily due to higher material and lower outside processing due to work now

performed inside.




Financial Condition


Liquidity and Capital Resources


The Company has short-term credit lines aggregating $5,000,000. At April 30,

1999, $0 was outstanding. Additionally, cash generated from operations was used

to purchase machinery and equipment and reduce long-term debt. The Company

anticipates that funds provided by operations together with funds available

under its credit lines will be sufficient to meet the Company's liquidity needs

for the remainder of fiscal year 1999.



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Year 2000


The Year 2000 issue ("Y2K") exists because some computer programs use two digits

rather that four to define the applicable year. For instance, these programs

record the year 1998 as "98." Any date-sensitive software may interpret a date

using "00" as the year 1900 rather than the year 2000. This could result in a

system failure or miscalculations causing disruptions of operations, including a

temporary inability to engage in normal business activities.


Readiness

The Company has conducted an inventory and assessment of its information

technology ("IT") systems and non-IT systems (such as building facilities, voice

mail, telephone and other systems containing embedded microprocessors). The

inventory was completed during 1997. The remediation phase and testing phases

were completed during 1998.


The Company's material internal IT systems principally consist of accounting and

manufacturing software applications. The Company has tested these systems and

are assured that all applications are Y2K compliant.


The Company purchases products and services from third parties. The Company has

sought written assurances from its material vendors and suppliers that there

will be no interruption of service or acceptable product as a result of the Y2K

issue. Based in part on the assurances received or not received, throughout

calendar 1999 the Company will resource work to mitigate the negative effects on

the Company in the event the Y2K issue results in the unavailability of products

or services. The Company cannot assure that any contingency plans will prevent

product or service interruption by one or more of the Company's third party

vendors or suppliers from having a material adverse effect on the Company.


Cost

The Company expects the costs directly associated with its Y2K efforts to be

minor and under $50,000 total.


Risks

The Company may be at risk from external infrastructure failures, including

electrical power, telephone, and transportation, among others. Investigation and

assessment of infrastructures is beyond the scope and resources of the Company.

Among the risks arising from these sources are the Company's inability to

conduct business in its offices that lose electrical power



                                                                               7

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or experience failure of elevator, security, HVAC or other building systems, and

disruption to Company business if telephone or cellular communication is

unavailable.


Contingencies

The Company has developed contingency plans in regard to its internal systems,

vendor/supplier issues or any of the more global infrastructure issues. The plan

is to create a complete back-up file of all data and if necessary to manually

transact all functions until problem is corrected.


Forward-Looking Statements

The estimates regarding the costs of the Company's Y2K efforts, as well as

statements regarding the potential effect of Y2K issues on the Company and the

Company's plans to deal with issues or contingencies raised by Y2K issues, are

forward-looking statements. These statements are subject to a number of risks

and uncertainties which could cause actual costs, effects or plans to differ

from the discussion above. Among these risks or uncertainties are the following:


-        difficulty in successfully identifying all hardware, software and

         systems which may be affected by Y2K problems or which may contain

         microprocessors affected by those problems;


-        difficulty in identifying all third parties whose inability to process

         Y2K date information may affect the Company;


-        the fact that the Company will have no control over the efforts of

         material vendors, suppliers and other providers to address their Y2K

         issues; and


-        the effect of general economic conditions on the willingness of third

         parties to make the expenditures necessary to address Y2K problems

         which may affect the Company.



ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK SENSITIVE
         INSTRUMENTS


At the end of the quarter covered by this report, the Company had no material

exposure to market risks from instruments related to currency, interest rates or

otherwise.




                                                                               8

<PAGE>   9





ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS


On April 30, 1999, the Company held its annual meeting of stockholders.

Stockholders of the Company voted in favor of the election of Clark V. Stevens,

William B. Stade, Charles E. Blank, William P. Lianos, Anthony W. Livorine,

Kermit L. Knuppenburg, Anthony J. Caputo, Gen. Earl T. O'Loughlin and Howard W.

Burdett to the Company's Board of Directors. In the election of Mr. Stevens,

604,169 total votes were cast in favor and 360 votes were cast against or

withheld. In addition, there were 33,996 abstentions and 0 broker non-voters. In

the election of Mr. Stade, 604,259 total votes were cast in favor and 270 votes

were cast against or withheld. In addition, there were 33,996 abstentions and 0

broker non-voters. In the election of Mr. Blank, Mr. Lianos, Mr. Livorine, and

Mr. Knuppenburg, 604,279 total votes were cast in favor and 250 votes were cast

against or withheld for each nominee. In addition, there were 33,996 abstentions

and 0 broker non-voters for each nominee. In the election of Mr. Caputo, 603,169

total votes were cast in favor and 1,360 votes were cast against or withheld. In

addition, there were 33,996 abstentions and 0 broker non-voters. In the election

of Gen. O'Loughlin, 602,259 total votes were cast in favor and 2,270 votes were

cast against or withheld. In addition, there were 33,996 abstentions and 0

broker non-voters. In the election of Mr. Burdett, 602,359 total votes were

cast in favor and 2,170 votes were cast against or withheld. In addition, there

were 33,996 abstentions and 0 broker non-voters.




PART II.  OTHER INFORMATION


ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K


No reports on Form 8-K were filed during the quarter ended April 30, 1999.




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                                   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, hereunto, duly authorized.



Michigan Rivet Corporation




By  /s/ William P. Lianos
   --------------------------------
    William P. Lianos

   Executive Vice President and Treasurer

   (Principal Financial & Accounting Officer)


Date            5-21-99
      -----------------------------

















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                                 EXHIBIT INDEX


EXHIBIT
NUMBER                           DESCRIPTION
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  27                             Financial Data Schedule







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