<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                 --------------

                                   FORM 10-QSB
(Mark One)
                 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended March 30, 2002

                                       OR

                 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d)
                               OF THE EXCHANGE ACT

             For the transition period from _________ to __________

                         Commission file number 0-11880

                            HYTEK MICROSYSTEMS, INC.
        (Exact name of small business issuer as specified in its charter)

                       California                       94-2234140
           (State or other jurisdiction of           (I.R.S. Employer
            incorporation or organization)          Identification No.)

                 400 Hot Springs Road, Carson City, Nevada 89706
                    (Address of principal executive offices)

                    Issuer's telephone number: (775) 883-0820

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

As of March 30, 2002, the issuer had outstanding 3,253,508 shares of Common
Stock, no par value.



                                       1
<PAGE>



                            HYTEK MICROSYSTEMS, INC.
                         QUARTERLY REPORT ON FORM 10-QSB
                      FOR THE QUARTER ENDED MARCH 30, 2002

                                      INDEX


<Table>
<Caption>
                                                                                                Page
                                                                                               Number
                                                                                               ------

<S>               <C>                                                                          <C>
Part I.  FINANCIAL INFORMATION:

Item 1.  Financial Statements:


                  Balance Sheet at March 30, 2002 (unaudited) and
                  December 29, 2001   .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  3

                  Statement of Operations   (unaudited) for the Quarters ended
                  March 30, 2002 and March 31, 2001  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  4

                  Statement of Cash Flows (unaudited) for the Quarters ended
                  March 30, 2002 and March 31, 2001  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  5

                  Notes to Interim Financial Statements (unaudited) .  .  .  .  .  .  .  .  .  .  6

Item 2.           Management's Discussion and Analysis or
                  Plan of Operation   .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  8


Part II. OTHER INFORMATION:

Item 6.  Exhibits and Reports on Form 8-K   .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 13

Signatures    .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 14
</Table>



                                       2
<PAGE>


                            Hytek Microsystems, Inc.

                                 Balance Sheets

                      March 30, 2002 and December 29, 2001

<Table>
<Caption>
                                                                                      3-30-02            12-29-01
                                                                                   -----------         -----------

<S>                                                                                <C>                 <C>
ASSETS
Current assets:
   Cash and cash equivalents                                                       $   775,056         $   901,531
   Trade accounts receivable, net of allowance for doubtful
     accounts of $159,000  at 3-30-02 and 12-29-01, respectively                     2,136,552           1,479,849
   Inventories                                                                       3,745,066           4,471,889
   Prepaid expenses and deposits                                                        87,149             101,491
                                                                                   -----------         -----------
Total current assets                                                                 6,743,823           6,954,760



Plant and equipment, at cost, less accumulated depreciation
   and amortization                                                                  1,180,398           1,179,524
                                                                                   -----------         -----------
Total assets                                                                       $ 7,924,221         $ 8,134,284
                                                                                   ===========         ===========

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
   Note payable                                                                    $   700,000         $   850,000
   Accounts payable                                                                    545,042             514,007
   Accrued employee compensation and benefits                                          281,795             216,552
   Accrued warranty, commissions, and other                                            342,613             293,757
   Customer deposits                                                                   906,592           1,308,058
                                                                                   -----------         -----------
Total current liabilities                                                            2,776,042           3,182,374

Commitments and contingencies

Shareholders' equity:
   Common stock, no par value:
     Authorized shares -- 7,500,000
     Issued and outstanding shares -- 3,253,508 in 2002 and 2001                     5,386,897           5,386,897
 Accumulated deficit                                                                  (238,718)           (434,987)
                                                                                   -----------         -----------

Total shareholders' equity                                                           5,148,179           4,951,910

                                                                                   -----------         -----------
Total liabilities and shareholders' equity                                         $ 7,924,221         $ 8,134,284
                                                                                   ===========         ===========
</Table>


                            See accompanying notes.



                                        3

<PAGE>

                            HYTEK MICROSYSTEMS, INC.

                             STATEMENT OF OPERATIONS
                                   (UNAUDITED)
                QUARTERS ENDED MARCH 30, 2002 AND MARCH 31, 2001



<Table>
<Caption>
                                                                                    3/30/2002           3/31/2001
                                                                                   -----------         -----------

<S>                                                                                <C>                 <C>
Net revenues                                                                       $ 3,573,815         $ 1,313,389

Costs and expenses:
  Cost of sales                                                                      2,742,802           1,444,359
  Engineering and development                                                          244,920             229,746
  Selling, general and
    administrative                                                                     374,260             348,157
                                                                                   -----------         -----------
    Total costs and expenses                                                         3,361,982           2,022,262
                                                                                   -----------         -----------

Operating income (loss)                                                                211,833            (708,873)

Interest income                                                                          3,645              46,631
Interest expense                                                                        (9,799)                 --
                                                                                   -----------         -----------
Income (loss) before provision
  for income taxes                                                                     205,679            (662,242)
Provision for income taxes                                                              (9,410)               (800)
                                                                                   -----------         -----------

Net income (loss)                                                                  $   196,269         $  (663,042)
                                                                                   ===========         ===========

Basic earnings (loss) per share                                                    $      0.06         $     (0.20)

Diluted earnings (loss) per share                                                  $      0.06         $     (0.20)

Shares used in calculating basic earnings per share                                  3,253,508           3,238,508

Shares used in calculating diluted earnings per share                                3,254,123           3,238,508
</Table>



                             See accompanying notes.



                                       4
<PAGE>


                            HYTEK MICROSYSTEMS, INC.

                             STATEMENT OF CASH FLOWS
                                   (UNAUDITED)
                QUARTERS ENDED MARCH 30, 2002 AND MARCH 31, 2001

                INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS



<Table>
<Caption>
                                                                          3/30/2002           3/31/2001
                                                                         -----------         -----------

<S>                                                                      <C>                 <C>
Cash flows from operating activities:

   Net income (loss)                                                     $   196,269         $  (663,042)


   Adjustments to reconcile net income (loss) to net cash
      provided by (used in) operating activities:

       Depreciation and amortization                                          84,866              90,978
       Accounts receivable, net                                             (656,703)            497,516
       Inventories                                                           726,823            (768,320)
       Prepaid expenses and deposits                                          14,342             193,808
       Accounts payable                                                       31,035             208,940
       Accrued employee compensation and benefits                             65,243              25,264
       Customer deposits                                                    (401,466)              5,000
       Accrued warranty, commissions and other                                48,856             (42,875)
                                                                         -----------         -----------

      Net cash provided by (used in) operating activities                    109,265            (452,731)

Cash flows from investing activities:
  Cash purchases of equipment                                                (85,740)           (565,794)
                                                                         -----------         -----------
       Net cash used in investing activities                                 (85,740)           (565,794)

Cash flows from financing activities:
  Principal payments on Note Payable                                        (150,000)                 --
  Proceeds from exercise of stock options                                         --                  --
                                                                         -----------         -----------
     Net cash used in financing activities                                  (150,000)                 --

Net decrease in cash and cash equivalents                                   (126,475)         (1,018,525)
Cash and cash equivalents at beginning of period                             901,531           3,589,303
                                                                         -----------         -----------
Cash and cash equivalents at end of period                               $   775,056         $ 2,570,778
                                                                         ===========         ===========
</Table>



                             See accompanying notes.



                                       5
<PAGE>

                            HYTEK MICROSYSTEMS, INC.
                      NOTES TO INTERIM FINANCIAL STATEMENTS
                                 MARCH 30, 2002
                                   (Unaudited)


         1. In the opinion of management, the accompanying unaudited financial
statements include all adjustments (consisting of only normal recurring
adjustments) that are necessary in order to make the financial statements
contained herein not misleading. These financial statements, notes and analyses
should be read in conjunction with the financial statements for the fiscal year
ended December 29, 2001, and notes thereto, which are contained in the Company's
Annual Report on Form 10-KSB for such fiscal year. The results for the quarter
ended March 30, 2002 are not necessarily indicative of the results that may be
expected for the entire year ending December 28, 2002. The Company operates on a
52/53 week fiscal year, which approximates the calendar year.

         2. The preparation of financial statements in conformity with generally
accepted accounting principles requires the use of estimates and assumptions
that affect the amounts reported in the financial statements and accompanying
notes. Actual results could differ from those estimates.

         3. The Company leases its main Carson City facility pursuant to a
continuing lease expiring in 2005. It also leases a small amount of office space
on a lease expiring in 2003. The aggregate future minimum rental commitments as
of March 30, 2002 for these leases were:

<Table>
<S>                                                <C>
                                2002                173,469
                                2003                200,848
                                2004                191,110
                                2005                 96,967
                                                   --------
                                Total              $662,394
</Table>

         4. Inventories are stated at the lower of cost (determined using the
first-in, first-out method) or market. Inventories consisted of:

<Table>
<Caption>
                                                   3-30-02           12-29-01
                                                -----------        -----------

<S>                                             <C>                <C>
          Raw Material                          $ 2,132,290        $ 2,854,349
          Work-In-Process                         1,518,663          1,431,428
          Finished Goods                             94,113            186,122
                                                -----------        -----------
                                                $ 3,745,066        $ 4,471,899
                                                -----------        -----------
</Table>

         At March 30, 2002, total excess inventory for the Company's
opto-electronic standard products was approximately $800,000. The Company
currently carries a reserve of approximately $ 800,000 primarily related to this
inventory as it was deemed to be potentially excessive at December 29, 2001.

         5. Plant and equipment are stated at cost and depreciated on a
straight-line basis over the estimated useful life of the assets, generally
three to seven years.

         6. During the first quarter, the Company paid down its note payable
with Bank of the West in the amount of $150,000 and at March 30, 2002 had
short-term notes payable of $700,000.



                                       6
<PAGE>

$850,000 was outstanding at December 29, 2001. The note bears interest at the
banks' index rate. On an annual basis, the Company must comply with certain
covenants in relation to its tangible net worth and quick ratio per the terms of
the note. At December 29, 2001 and March 30, 2002, the Company was not in
compliance with these covenants. The bank has agreed to continue the lending
relationship, which is due for renewal on May 21, 2002, however, the bank
reserves the right to "call" the loan at its discretion. The Company has made
additional principal payments subsequent to March 30, 2002 of $150,000.

         7. Net income (loss) per share of common stock is computed in
accordance with Statement of Financial Accounting Standards (SFAS) No. 128
"Earnings per Share". The calculation of the basic and diluted earnings per
share is the same except for the dilutive effect of outstanding stock options.
The dilution is 615 shares for the three months ended March 30, 2002. There is
no effect of outstanding stock options on the diluted loss per share for the
three months ended March 31, 2001, because their effect would be anti-dilutive.



                                       7
<PAGE>


Item 2. Management's Discussion and Analysis or Plan of Operation

         For the purposes of the following discussion, dollar amounts have been
rounded to the nearest $1,000 and all percentages have been rounded to the
nearest 1%.

         This Quarterly Report on Form 10-QSB contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Actual results could differ
materially from those projected in the forward-looking statements as a result of
various factors, including the risk factors set forth below under "Future
Outlook" and elsewhere in this section. The Company has attempted to identify
forward-looking statements by placing an asterisk immediately following the
sentence or phrase containing the forward-looking statement(s). All statements
made herein are made as of the date of filing of this Form 10-QSB. The Company
disclaims any duty to update such statements after the date of filing of this
Form 10-QSB, except as required by law.

CRITICAL ACCOUNTING POLICIES

         Hytek's discussion and analysis of its financial condition and results
of operations are based on Hytek's financial statements, which have been
prepared in accordance with accounting principles generally accepted in the
United States. The preparation of these financial statements requires Hytek to
make estimates and judgments that affect the reported amounts of assets,
liabilities, revenue and expenses, and related disclosure of contingent assets
and liabilities. On an on-going basis, Hytek evaluates its estimates, including
those related to bad debts, inventories, investments, financing operations,
warranty obligations, contingencies and litigation. Hytek bases its estimates on
historical experience and various other assumptions that are believed to be
reasonable under the circumstances, the results of which form the basis for
making judgments about the carrying values of assets and liabilities that are
not readily apparent from other sources. Actual results may differ materially
from these estimates under different assumptions or conditions.

         The Company believes the following critical accounting policies affects
its more significant judgments and estimates used in the preparation of its
financial statements.

         The Company recognizes revenue (sales) upon the delivery of the product
and transfer of title to the customer, net of estimated provisions for warranty
and estimated returns.

         The Company evaluates the collectibility of accounts receivable on a
customer-by-customer basis. The Company records a reserve for bad debts against
amounts due to reduce the net recognized receivable to an amount the Company
believes will be reasonably collected. The reserve is a discretionary amount
determined from the analysis of the aging of the accounts receivables,
historical experience and knowledge of specific customers. If the estimates are
not



                                       8
<PAGE>

correct, the Company might have to write off accounts receivable in excess of
the bad debt reserve, which would be charged against earnings.

         Inventories are stated at the lower of cost (determined using the
first-in, first-out method), or market. The Company plans production based on
orders received and forecasted demand. For the opto-electronic market, the
Company must order components and build inventories well in advance of product
shipments. The valuation of inventories at the lower of cost or market requires
the use of estimates regarding the amounts of current inventories that will be
sold. These estimates are dependent on the Company's assessment of current and
expected orders from its customers, including consideration that orders are
subject to cancellation with limited advance notice prior to shipment. Because
the Company's markets are volatile, and are subject to technological risks and
price changes as well as inventory reduction programs by the Company's customers
and distributors, there is a risk that the Company will forecast incorrectly and
produce excess inventories of particular products. This inventory risk is
compounded for the opto-electronic products, because many of the Company's
customers place orders with short lead times. As a result, actual demand will
differ from forecasts, and such a difference may have a material adverse effect
on actual results of operations due to required write-offs of excess or obsolete
inventory.

RESULTS OF OPERATIONS

         Net revenues for the quarter ended March 30, 2002 were $3,574,000,
representing a 172% increase from net revenues of $1,313,000 for the quarter
ended March 31, 2001. The large increase in revenues results from increased
bookings in prior quarters combined with improvements in production operations
and through-put. Revenues for the first quarter of the prior year were
exceptionally low due to a variety of production problems and operating issues.

         Cost of sales was $2,743,000, or 77% of net revenues, for the quarter
ended March 30, 2002, as compared to $1,444,000, or 110% of net revenues, for
the quarter ended March 31, 2001. While cost of sales has improved significantly
as a percentage of revenue over the prior year quarter, there is still
significant improvement to be made in production efficiency and product yields.

         Engineering and development expenses were $245,000, or 7% of net
revenues, for the quarter ended March 30, 2002, as compared to $230,000, or 17%
of net revenues, for the quarter ended March 31, 2001. The increase in
engineering and development expense in the quarter is primarily attributable to
higher compensation cost associated with increased personnel.

         Selling, general and administrative expenses were $374,000, or 10% of
net revenues, for the quarter ended March 30, 2002, as compared to $348,000, or
27% of net revenues, in the quarter ended March 31, 2001. This increase in
dollar amount is primarily the result of increases in compensation expense and
sales commission expense, partially offset by reductions in advertising and
promotion and travel expense.



                                       9
<PAGE>

          As a result of the above factors, the Company had an operating profit
of $212,000 as compared to an operating loss of $709,000 for the quarter ended
March 31, 2001.

         The Company has net interest expense of $6,000 for the quarter ended
March 30, 2002 as compared to net interest income was $47,000 for the quarter
ended March 31, 2001. This change results from lower interest earned on
decreasing balances in interest-bearing accounts and certificates of deposit
during the current quarter, and interest payments made on the note payable with
Bank of the West.

         An $800 payment for minimum California state franchise tax was
recognized for the quarters ended March 30, 2002 and March 31, 2001. In
addition, the Company recognized $8,610 of federal tax expense in the quarter
ended March 30, 2002. As of December 29, 2001, the Company had net operating
loss carryforwards and tax credit carryforwards for federal income tax purposes
of approximately $ 2,205,000 and $ 133,000, respectively. The net operating loss
carryforwards will begin to expire in 2008.

         The Company's backlog of deliverable customer orders was $8,154,000 at
March 30, 2002, as compared to $5,868,000 at March 31, 2001, and $7,214,000 at
December 29, 2001. Because customers may place orders for delivery at various
times throughout the year, and due to the possibility of customer changes in
delivery schedules or cancellation of orders, the Company's backlog as of any
particular date may not be indicative of actual future sales.

LIQUIDITY AND CAPITAL RESOURCES

         The Company's cash position decreased by 14% to $775,000 at March 30,
2002, from $902,000 at December 29, 2001. This decrease is the combined result
of $109,000 provided by operating activities offset by $86,000 used to purchase
capital equipment and $150,000 used for principal payments on the note payable.

         Accounts receivable were $2,137,000 at March 30, 2002, as compared to
$1,480,000 at December 29, 2001. This increase is primarily attributable to
higher sales volume during the current quarter. At March 30, 2002, approximately
9% of total receivables were in excess of 60 days, as compared to approximately
24% at December 29, 2001. The Company expects to receive these past due
receivables, and believes that its allowances for bad debt are sufficient at the
present time.*

         Inventories decreased by $727,000 to $3,745,000 at March 30, 2002, as
compared to $4,472,000 at December 29, 2001. Both raw materials and finished
goods decreased from year-end levels, offset by a slight increase in
work-in-process. Increased shipment volume and improvements in internal
materials management practices both contributed to the reduction in inventory.

         Prepaid expenses and deposits were $87,000 at March 30, 2002 as
compared to $101,000 at December 29, 2001. This decrease reflects normal ongoing
business activity.



                                       10
<PAGE>

         Plant and equipment net of depreciation remained almost constant in the
first quarter as a result of $86,000 in capital expenditures, offset by $85,000
of depreciation during the quarter.

         The Company has a note payable of $700,000 as of March 30, 2002, under
its credit line with Bank of the West. This compares to $ 850,000 due on the
note at December 29, 2001. Currently, the Company is in violation of loan
covenants with the bank in respect to "quick ratio". The bank has agreed to
continue the lending relationship, which is due for renewal on May 21, 2002,
however, the bank reserves the right to "call" the loan at its discretion.
Currently, the bank has indicated that it intends to renew the line for the
amount outstanding on May 21, 2002.*

         Accounts payable were $545,000 at March 30, 2002, as compared to
$514,000 at December 29, 2001.

         Accrued employee compensation and benefits were $282,000 at March 30,
2002 as compared to $217,000 at December 29, 2001. This increase is the net
result of increases in the number of employees and changes in the timing and
amount of payroll accruals at quarter end.

         Accrued warranty, commissions and other expenses were $343,000 at March
30, 2002, as compared to $294,000 at December 29, 2001. This increase is the net
effect of increased amounts of accrued sales commissions combined with normal
ongoing accruals and payments during the first quarter of 2002.

         At March 30, 2002, there was $907,000 in customer deposits as compared
to $1,308,000 at December 29, 2001. The entire amount is related to payments for
inventory received from Chesapeake Sciences Corp., which will be taken to
revenue as product is shipped to them in the future.

FUTURE OUTLOOK

          Although the first quarter operating results were a significant
improvement over the prior quarter and prior year first quarter, we still have a
lot of work ahead of us to further improve production efficiency, through-put
and overall gross margins. We have initiated an internal continuous improvement
program that we believe will continue to result in improved operating
performance as we progress through the current fiscal year.*

      At March 30, 2002, the portion of the Company's backlog representing
customer orders scheduled to ship during for the remainder of 2002 was
approximately $7,800,000. Because of the potential for customer changes in
delivery schedules or the cancellation of orders, backlog may not be an accurate
indicator of future sales. The Company currently believes that results of
operations, its current cash position and its existing line of credit will
provide sufficient cash to meet operating needs over the next 12 months.*



                                       11
<PAGE>

     Sales of the Company's opto-electronic standard products improved in the
first quarter of 2002. While the level of activity is significantly lower than
in prior years, we are encouraged to see this market begin to expand again. The
custom product market has remained strong through the first quarter,
particularly in military/aerospace, medical and telemetry applications. The
Company is currently pursuing additional opportunities for new and continuing
future business in these markets.*

         The foregoing discussion 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 uncertainties including, but
not limited to, customer cancellation or rescheduling of orders, problems
affecting delivery of raw materials and components, unanticipated technical and
manufacturing problems, non-acceptance of new products in the marketplace,
availability of direct labor resources and general economic conditions in the
technology sector. The Company disclaims any responsibility to update the
forward-looking statements contained herein, except as may be required by law.



                                       12
<PAGE>


                          PART II -- OTHER INFORMATION


Item 6. Exhibits and Reports on Form 8-K.

         (a)      Exhibits.

                  None

         (b)      Reports on Form 8-K.

                  No Reports on Form 8-K were filed during the quarter ended
                  March 30, 2002.



                                       13
<PAGE>

                                   SIGNATURES



         In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                   HYTEK MICROSYSTEMS, INC.
                                         (Registrant)



Date: May 7, 2002                        By:  /s/ Sally B. Chapman
                                             ----------------------------------
                                         Sally B. Chapman
                                         Chief Financial Officer
                                         (Principal Financial and
                                         Accounting Officer)



                                       14