SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10 QSB




             Quarterly Report Pursuant to Under Section 13 or 15 (d)
                     of the Securities Exchange Act of 1934

                     for the Quarter Ended February 24, 2007


              For the Transition Period from_________ to _________
                          Commission File Number 0-5109


                            MICROPAC INDUSTRIES, INC.




       Delaware                                            75-1225149
------------------------                       ---------------------------------
(State of Incorporation)                       (IRS Employer Identification No.)

905 E. Walnut, Garland, Texas                                  75040
-----------------------------                            ------------------
(Address of Principal Executive Office)                     (Zip Code)

Registrant's Telephone Number, including Area Code         (972) 272-3571
                                                         ------------------

     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act of 1934  during the past 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
    --------------                                      ----------------





On February  24, 2007,  2,578,315  shares of Common  Stock,  $.10 par value were
outstanding.






                                       1
<PAGE>



                            MICROPAC INDUSTRIES, INC.

                                   FORM 10-QSB

                                FEBRUARY 24, 2007

                                      INDEX

PART I - FINANCIAL INFORMATION

     ITEM 1 - FINANCIAL STATEMENTS

               Condensed  Statements  of  Operations  for the three months ended
               February 24, 2007 and February 25, 2006
               Condensed Balance Sheets as of February 24, 2007 and November 30,
               2006
               Condensed  Statements  of Cash Flows for the three  months  ended
               February 24, 2007 and February 25, 2007
               Notes to Financial Statements

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

     ITEM 3- CONTROLS AND PROCEDURES



PART II - OTHER INFORMATION

     ITEM 1 - LEGAL PROCEEDINGS

     ITEM 2 - CHANGES IN SECURITIES

     ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

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

     ITEM 5 - OTHER INFORMATION

     ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

          (a) Exhibits
          31.1 Certification of Chief Executive  Officer pursuant to Section 302
               of the Sarbanes- Oxley Act of 2002
          31.2 Certification of Chief Accounting Officer pursuant to Section 302
               of the Sarbanes- Oxley Act of 2002
          32.1 Certification  of Chief Executive  Officer  pursuant to 18 U.S.C.
               section  1350,  as  adopted   pursuant  to  section  906  of  the
               Sarbanes-Oxley act of 2002.
          32.2 Certification  of Chief  Accounting  Officer pursuant to U. S. C.
               section  1350,  as  adopted   pursuant  to  section  906  of  the
               Sarbanes-Oxley act of 2002.


          (b) Reports on Form 8-K



SIGNATURES



                                       2
<PAGE>







PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS



                            MICROPAC INDUSTRIES, INC.
                       CONDENSED STATEMENTS OF OPERATIONS
                    (Dollars in thousands except share data)
                                   (Unaudited)




                                                         For three months
                                                              ended
                                                    2/24/07          2/25/06
                                                    -------          -------


NET SALES                                        $     4,251    $     4,407


COST AND EXPENSES:

    Cost of goods sold                                (2,947)        (2,996)

    Research and development                            (100)           (80)

    Selling, general & administrative expenses          (726)          (763)
                                                 -----------    -----------

                      Total cost and expenses         (3,773)        (3,839)


OPERATING INCOME BEFORE INTEREST                         478            568
           AND INCOME TAXES

    Interest income                                       46             34
                                                 -----------    -----------

INCOME BEFORE TAXES                                      524            602

    Provision for taxes                                 (199)          (229)
                                                 -----------    -----------

NET INCOME                                       $       325    $       373
                                                 ===========    ===========

NET INCOME PER SHARE, BASIC AND DILUTED          $      0.13    $      0.14


DIVIDENDS PER SHARE                              $      0.10    $      0.15

WEIGHTED AVERAGE NUMBER OF SHARES,
Basic and diluted                                  2,578,315      2,578,315


               See accompanying notes to financial statements.


These  statements  reflect all adjustments  which, in the opinion of management,
are necessary for fair statement of the results for the interim period.



                                       3
<PAGE>
<TABLE>
<CAPTION>





                            MICROPAC INDUSTRIES, INC.
                            CONDENSED BALANCE SHEETS
                             (Dollars in thousands)


                                     ASSETS
                                                                        (Unaudited)
CURRENT ASSETS                                                           2/24/07     11/30/06
                                                                         -------     --------
<S>                                                                      <C>         <C>

     Cash and cash equivalents                                          $  2,236    $  2,558
     Short term investments                                                2,116       2,025
        Receivables, net of allowance for doubtful accounts of             2,708       2,048
         $89 on February 24, 2007 and $89 on November 30, 2006
     Inventories:
         Raw materials                                                     1,760       1,924
         Work-in process                                                   2,452       2,596
                                                                        --------    --------
     Total Inventories                                                     4,212       4,520
     Prepaid expenses and other current assets                                45          77
     Deferred income tax                                                     625         625
                                                                        --------    --------
                                  Total current assets                    11,942      11,853
                                                                        --------    --------

PROPERTY, PLANT AND EQUIPMENT, at cost:
     Land                                                                     80          80
     Buildings                                                               498         498
     Facility improvements                                                   796         796
     Machinery and equipment                                               5,940       5,925
     Furniture and fixtures                                                  507         507
                                                                        --------    --------
                      Total property, plant, and equipment                 7,821       7,806
         Less accumulated depreciation                                    (6,657)     (6,591)
                                                                        --------    --------
                      Net property, plant, and equipment                   1,164       1,215
                                                                        --------    --------
equipment


                                      Total assets                      $ 13,106    $ 13,068
                                                                        ========    ========

                                     LIABILITIES AND SHAREHOLDERS'
EQUITY

CURRENT LIABILITIES:
     Accounts payable                                                   $    504    $    582
     Accrued compensation                                                    311         494
     Other accrued liabilities                                               172         188
     Deferred revenue                                                        294         243
     Income taxes payable                                                    226          28
                                                                        --------    --------
                                 Total current liabilities                 1,507       1,535
                                                                        --------    --------

DEFERRED INCOME TAXES                                                         79          79

SHAREHOLDERS' EQUITY
     Common stock, ($.10 par value), authorized 10,000,000 shares,           308         308
          3,078,315 issued 2,578,315 outstanding at February 24, 2007
          and November 30, 2006
     Paid-in capital                                                         885         885
     Treasury stock, 500,000 shares, at cost                              (1,250)     (1,250)
     Retained earnings                                                    11,577      11,511
                                                                        --------    --------

                    Total shareholders' equity                            11,520      11,454
                                                                        --------    --------

                    Total liabilities and shareholders'equity           $ 13,106    $ 13,068
                                                                        ========    ========

</TABLE>




          See accompanying notes to financial statements.


These  statements  reflect all adjustments  which, in the opinion of management,
are necessary for fair statement of the results for the interim period.



                                       4
<PAGE>



                            MICROPAC INDUSTRIES, INC.
                       CONDENSED STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)
                                   (Unaudited)


                                                          For three months ended
                                                              2/24/07    2/25/06

CASH FLOWS FROM OPERATING ACTIVITIES:
     Net Income                                             $   325    $   373
     Adjustments to reconcile net income to:
         Cash from operating activities:
             Depreciation and amortization                       66         65
         Changes in current assets and liabilities:
             Accounts receivable                               (660)       131
             Inventories                                        308       (154)
             Prepaid expenses and other current assets           32         21
             Deferred revenue                                    51         82
             Accounts payable                                   (78)      (163)
             Accrued compensation                              (183)      (396)
             Other accrued liabilities                          (16)        (7)
             Income taxes payable                               198        229
                                                            -------    -------

                Net cash provided by operating activities        43        181
                                                            -------    -------

CASH FLOWS FROM INVESTING ACTIVITIES:
        Changes in investments                                  (92)      (806)
        Additions to property, plant and equipment              (15)        52)
                                                            -------    -------


                Net cash used in investing activities          (107)      (858)
                                                            -------    -------

CASH FLOWS FROM FINANCING ACTIVITIES
         Cash dividend                                         (258)      (388)
                                                            -------    -------

                Net cash used in financing activities          (258)      (388)
                                                            -------    -------

Net change in cash and cash equivalents                        (322)    (1,065)

Cash and Cash Equivalents at beginning of period              2,558      1,722
                                                            -------    -------

Cash and Cash Equivalents at end of period                  $ 2,236    $   657
                                                            =======    =======

Supplemental Cash Flow Disclosure

      Cash Paid For Income Taxes                            $     0    $     0
                                                            =======    =======




          See accompanying notes to financial statements.




These  statements  reflect all adjustments  which, in the opinion of management,
are necessary for fair statement of the results for the interim period.



                                       5
<PAGE>

                            MICROPAC INDUSTRIES, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

Note 1

In the opinion of management,  the unaudited  financial  statements  include all
adjustments  (consisting  of only normal,  recurring  adjustments)  necessary to
present  fairly the financial  position as of February 24, 2007,  the cash flows
for the three  months ended  February  24, 2007 and  February 25, 2006,  and the
results of operations  for the three months ended February 24, 2007 and February
25, 2006.  Unaudited financial  statements are prepared on a basis substantially
consistent  with those  audited for the year ended  November 30,  2006.  Certain
information and footnote  disclosures  normally included in financial statements
prepared in accordance  with  generally  accepted  accounting  principles in the
United  States  have  been  condensed  or  omitted  pursuant  to the  rules  and
regulations  promulgated  by the Securities  and Exchange  Commission.  However,
management  believes  that the  disclosures  contained  are adequate to make the
information presented not misleading.


Note 2

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States  requires  management to make estimates
and assumptions  that affect the reported  amounts of assets and liabilities and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements and the reported  amounts of sales and expenses  during the reporting
period. Actual results could differ from those estimates.


Note 3

On December  22,  2005,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.15 per share dividend to all  shareholders of record
on February 3, 2006. The dividend was paid to shareholders on February 10, 2006.

On December  22,  2006,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.10 per share dividend to all  shareholders of record
on January 26, 2007. The dividend  payment was paid to  shareholders on February
9, 2007.


Note 4

On March 1, 2001,  the Company's  shareholders  approved the 2001 Employee Stock
Option  Plan (the "Stock  Plan").  As of  February  24, 2007 there were  500,000
options available to be granted. No options have been granted to date.


Note 5

On June 1, 2006 the  Company  renewed  an  uncollateralized  $3,000,000  line of
credit  agreement with a bank. The interest rate is equal to the prime rate less
1/4%. The line of credit requires that the Company  maintain  certain  financial
ratios. The financial covenants require the Company to maintain a quick ratio of
at least 1:1,  maintain  tangible net worth of $6,250,000 plus 75% of future net
income,  and  maintain  total  liabilities  to  tangible  net worth of less than
1.25:1. The Company is in compliance with these covenants.  The Company has not,
to date, used any of the available line of credit.


Note 6

Basic and  diluted  earnings  per share are  computed  based  upon the  weighted
average number of shares outstanding during the year. Diluted earnings per share
gives effect to all dilutive potential common shares. For the three months ended
February 24, 2007 and February 25, 2006,  the Company had no dilutive  potential
common stock.



Note 7

Glast,  Phillips & Murray, P.C. serves as the Company's legal counsel. Mr. James
K. Murphey, a director and member of the Company's audit committee,  is a member
of Glast, Phillips & Murray, P.C.



                                       6
<PAGE>

                            MICROPAC INDUSTRIES, INC.
                                   (Unaudited)


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

Business

Micropac Industries, Inc. (the "Company"), a Delaware corporation,  manufactures
and distributes various types of hybrid  microelectronic  circuits,  solid state
relays,  power  operational  amplifiers,   and  optoelectronic   components  and
assemblies.  The  Company's  products are used as components in a broad range of
military,  space and industrial systems,  including aircraft instrumentation and
navigation systems,  power supplies,  electronic  controls,  computers,  medical
devices,  and  high-temperature  (200o C) products.  The Company's  products are
either custom (being application  specific circuits designed and manufactured to
meet the particular requirements of a single customer) or standard,  proprietary
components such as catalog items.

Results of Operations

                                          Three months ended
                                        2/24/2007    2/25/2006
                                        ---------    ---------
NET SALES                                 100.0%   100.0%

COST AND EXPENSES:
    Cost of goods sold                     69.3%    68.0%
    Research and development                2.4%     1.8%
    Selling, general & administrative      17.1%    17.3%
    expenses                               -----    -----

          Total cost and expenses          88.8%    87.1%


OPERATING INCOME BEFORE INTEREST           11.2%    12.9%
           AND INCOME TAXES

    Interest income                         1.0%     0.8%

INCOME BEFORE TAXES                        12.3%    13.7%

    Provision for taxes                     4.7%     5.2%

NET INCOME                                  7.6%     8.5%




Sales for the first quarter ended  February 24, 2007 totaled  $4,251,000.  Sales
for the first quarter decreased 3.5% or $156,000 below sales for the same period
of 2006.  Sales were 22% in the commercial  market,  57% in the military market,
and 21% in the space market compared to 19% in the commercial market, 61% in the
military market, and 20% in the space market for the same period of 2006.

Cost of goods sold for the first  quarter  2007  versus 2006  totaled  69.3% and
68.0% of net sales.  Cost of goods sold dollars  decreased  $49,000 in the first
quarter  of 2007,  compared  to 2006.  The  increase  in cost of goods sold as a
percentage of sales is associated  with higher material cost for the space level
solid state power  controllers.  For the comparable period in 2006 material cost
increased 4.3% while labor and overhead cost decreased 3.0%.

Research and  development  cost increased  $20,000 for the first quarter of 2007
compared to the same period of 2006.  The increase was in the  investment of the
development  a low and high  voltage  solid  state  power  controller  and a new
optoelectonic product for the medical industry.

Selling,  general  and  administrative  expenses  for the first  quarter of 2007
totaled 17.1%,  compared to 17.3% for the same period in 2006. Selling,  general
and  administrative  expenses  decreased  $37,000 in the first  quarter of 2007,
compared to 2006. The majority of the decrease was associated with the reduction
of one regional sales manager in the second quarter of 2006.



                                       7
<PAGE>


Interest income increased  $12,000 for the first quarter of 2007 compared to the
same period in 2006. The increase is improved yields on the company's short term
investments.

Provisions for taxes decreased $30,000 for the first quarter of 2007 compared to
the same period in 2006 with lower net income. The estimated  effective tax rate
was 38% for both periods.

Net income in the first quarter of 2007 totaled  $325,000,  compared to $373,000
for the  comparable  period in 2006.  Net income per share totaled $.13 and $.14
for the comparable three months of 2007 and 2006, respectively.

Total  assets  increased  $38,000 to  $13,106,000  as of February  24, 2007 from
$13,068,000 as of November 30, 2006.

Account  receivables  totaled $2,708,000 as of February 24, 2007 from $2,048,000
as of November  30,  2006,  an increase of  $660,000.  The  increase in accounts
receivables is associated  with higher sales in the last five weeks of the first
quarter of 2007 comparable to the same period ending November 30, 2006. Sales in
the  last  five  weeks of the  first  quarter  totaled  $2,551,000  compared  to
$1,941,000 for the last five weeks of 2006. The accounts  receivable  balance is
consistent with the average collection of 45 days.

Inventories  totaled $4,212,000 at the end of the first quarter 2007 compared to
$4,520,000  on  November  30,  2006,  a  decrease  of  $308,000.  Raw  materials
inventories including supplies decreased $164,000 since November 30, 2006, while
work-in process  inventories  decreased  $144,000.  The decrease in inventory is
consistent with the current business level.

Current  liabilities  totaled  $1,507,000  on February 24, 2007  representing  a
decrease of $28,000 from November 30, 2006.

Shareholders'  equity increased $66,000 in the first three months of 2007 with a
net income of $325,000 offset by the dividend payment of $258,000.  Earnings per
share for the three month period totaled $.13 per share.

Liquidity and Capital Resources

Cash and  short-term  investments  as of February  24, 2007  totaled  $4,352,000
compared to  $4,583,000  on November  30,  2006,  a decrease  of  $231,000.  The
decrease in cash and short-term  investments is attributable to $43,000 net cash
provided by operations, offset by the payment of a cash dividend of $258,000 and
the investment of $15,000 in equipment.

Cash flows from operating  activities  for the quarter ending  February 24, 2007
were $43,000 compared to $181,000 for the quarter ending February 25, 2006.

A  special  cash  dividend  of  $258,000  was paid on  February  9,  2007 to all
shareholders of record on January 26, 2006.

During fiscal 2006 the Company  renewed an  uncollateralized  $3,000,000 line of
credit  agreement with a bank. The interest rate is equal to the prime rate less
1/4%. The line of credit requires that the Company  maintain  certain  financial
ratios. The financial covenants require the Company to maintain a quick ratio of
at least 1:1,  maintain  tangible net worth of $6,250,000 plus 75% of future net
income,  and  maintain  total  liabilities  to  tangible  net worth of less than
1.25:1. The Company is in compliance with these covenants.  The Company has not,
to date, used any of the available line of credit.

The  Company  expects  to  generate  adequate  amounts  of cash from the sale of
products and services and the collection thereof to meet its liquidity needs.

Outlook

New  orders  for the  first  quarter  of 2007  totaled  $4,000,000  compared  to
$4,110,000 for the comparable period of 2006.

Backlog  totaled  $9,278,000  on February 24, 2007  compared to $9,045,000 as of
February 25,  2006.  The majority of the backlog is shippable in the next twelve
(12) months.

The Company  cannot assure that the results of operations for the interim period
presented  are   indicative  of  total  results  for  the  entire  year  due  to
fluctuations  in customer  delivery  schedules,  or other factors over which the
Company has no control.

Cautionary Statement

This Form 10-QSB contains  forward-looking  statements that are made pursuant to
the safe harbor  provisions of the Private  Securities  Litigation Reform Act of
1995.  Actual  results  could  differ  materially.  Investors  are  warned  that
forward-looking  statements involve risks and unknown factors including, but not
limited to, customer cancellation or rescheduling of orders,  problems affecting
delivery  of  vendor-supplied   raw  materials  and  components,   unanticipated
manufacturing problems and availability of direct labor resources.



                                       8
<PAGE>


Such  risks  and  uncertainties  include,  but are  not  limited  to  historical
volatility  and  cyclicality  of the  semiconductor  and  semiconductor  capital
equipment  markets that are subject to significant and often rapid increases and
decreases in demand. In addition, the Company produces silicon  phototransistors
and light  emitting diode die for use in certain  military,  standard and custom
products.  Fabrication  efforts sometimes may not result in successful  results,
limiting the  availability of these  components.  Competitors  offer  commercial
level  alternatives and our customers may purchase our competitors'  products if
the Company is not able to manufacture the products using these  technologies to
meet the customer demands.  Approximately $1,753,000 of the Company's backlog is
dependent on these semiconductors.

The  Company  disclaims  any   responsibility  to  update  the   forward-looking
statements contained herein, except as may be required by law.



ITEM 3. CONTROLS AND PROCEDURES

(a)  Evaluation of disclosure controls and procedures.

     The Chief  Executive  Officer  and Chief  Financial  Officer of the Company
     evaluated the Company's  disclosure  controls and procedures (as defined in
     Exchange Act Rules  13a-15 (e) as of February  24, 2007 and,  based on this
     evaluation, concluded that the Company's disclosure controls and procedures
     are  functioning  in an  effective  manner to ensure  that the  information
     required to be  disclosed  by the  Company in the reports  that it files or
     submits  under the Exchange  Act, is recorded,  processed,  summarized  and
     reported, within the time periods specified in the SEC's rules and forms. .

(b)  Changes in internal controls.

     There has been no change in the Company's  internal  control over financial
     reporting  that  has  materially  affected,  or  is  reasonably  likely  to
     materially affect, the Company's internal control over financial reporting.


PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

          The Company is not involved in any material  current or pending  legal
          proceedings.

ITEM 2. CHANGES IN SECURITIES

          None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

          None

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

          None

ITEM 5. OTHER INFORMATION

          None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

          (a) Exhibits

          31.1 Certification of Chief Executive  Officer pursuant to Section 302
               of the Sarbanes- Oxley Act of 2002
          31.2 Certification of Chief Accounting Officer pursuant to Section 302
               of the Sarbanes- Oxley Act of 2002
          32.1 Certification  of Chief Executive  Officer  pursuant to 18 U.S.C.
               section  1350,  as  adopted   pursuant  to  section  906  of  the
               Sarbanes-Oxley act of 2002.



                                       9
<PAGE>

          32.2 Certification  of Chief  Accounting  Officer pursuant to U. S. C.
               section  1350,  as  adopted   pursuant  to  section  906  of  the
               Sarbanes-Oxley act of 2002.



          (b)  Reports on Form 8-K

          On December 22, 2006,  the Board of Directors of Micropac  Industries,
          Inc.  approved  the  payment  of a  $.10  per  share  dividend  to all
          shareholders  of record on January 26, 2007. The dividend  payment was
          paid to shareholders on February 9, 2007.










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 duly authorized.



                            MICROPAC INDUSTRIES, INC.



April 10, 2007                                           /s/ Mark King
Date                                                     Mark King
                                                         Chief Executive Officer


April 10, 2007                                           /s/ Patrick Cefalu
Date                                                     Patrick Cefalu
                                                         Chief Financial Officer