UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q



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

For the quarterly period ended                 March 31, 2002

Commission file number                         0-10976


MICROWAVE FILTER COMPANY, INC.
(Exact name of registrant as specified in its charter.)


 New York                          16-0928443
(State of Incorporation)     (I.R.S. Employer Identification Number)

6743 Kinne Street, East Syracuse, N.Y.           13057
(Address of Principal Executive Offices)       (Zip Code)

Registrant's telephone number, including area code:  (315) 438-4700

        Indicate by check mark whether 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 shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

YES ( x )          NO (   )

        Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practical date:

    Common Stock, $.10 Par Value -    2,904,781 shares as of March 31, 2002.




<PAGE>




                     PART I. - FINANCIAL INFORMATION


                         MICROWAVE FILTER COMPANY, INC.

                          CONSOLIDATED BALANCE SHEETS


(Amounts in thousands)
                              MARCH 31, 2002         SEPTEMBER 30, 2001
                               (Unaudited)

Assets

Current Assets:

Cash and cash equivalents           $   581                $   373
Investments                           1,430                    900
Accounts receivable-trade, net          802                    600
Inventories                           1,009                    884
Deferred tax asset - current            165                    165
Prepaid expenses and other
 current assets                         143                     87
                                     --------              --------

Total current assets                  4,130                  3,009

Property, plant and equipment, net    1,166                  1,261
                                    --------               --------

Total assets                        $ 5,296                $ 4,270
                                    ========               ========

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable                    $   331                $   192
Customer deposits                       180                     23
Accrued federal and state
 income taxes                           340                     61
Accrued payroll and related
 expenses                               155                    109
Accrued compensated absences            302                    265
Other current liabilities               108                     71
                                    --------               --------

Total current liabilities             1,416                    721

Deferred tax liability -
 noncurrent                              19                     19
                                    --------               --------



Total liabilities                     1,435                    740
                                    --------               --------
Stockholders' Equity:

Common stock,$.10 par value             432                    432
Additional paid-in capital            3,240                  3,240
Retained earnings                     1,695                  1,364
                                    --------               --------
                                      5,367                  5,036
Common stock in treasury,
 at cost                             (1,506)                (1,506)
                                    --------               --------

Total stockholders' equity            3,861                  3,530
                                    --------               --------

Total liabilities and
 stockholders' equity               $ 5,296                $ 4,270
                                    ========               ========

<FN>
See Accompanying Notes to Consolidated Financial Statements

<PAGE>


                     MICROWAVE FILTER COMPANY, INC.

                  CONSOLIDATED STATEMENTS OF OPERATIONS

                   FOR THE THREE MONTHS AND SIX MONTHS

                      ENDED MARCH 31, 2002 AND 2001
                              (Unaudited)


(Amounts in thousands, except per share data)


                                Three months ended         Six months ended
                                     March 31                   March 31
                                2002          2001         2002         2001


Net sales                      $2,111        $1,679       $4,501       $3,609

Cost of goods sold              1,317         1,116        2,537        2,367
                               -------       -------      -------      -------
Gross profit                      794           563        1,964        1,242

Selling, general and
 administrative expenses          562           573        1,172        1,156
                               -------       -------      -------      -------
(Loss) income from
 operations                       232           (10)         792           86

Other income (net),
  principally interest             11            22           24           46
                               -------       -------      -------      -------

Income before income
   taxes                          243            12          816          132

Provision for income
   taxes                           84             4          282           46
                               -------       -------      -------      -------

NET INCOME                       $159            $8         $534          $86
                               =======       =======      =======      =======

Basic earnings per
   share                        $0.05         $0.00        $0.18        $0.03
                               =======       =======      =======      =======

<FN>
See Accompanying Notes to Consolidated Financial Statements



<PAGE>



                          MICROWAVE FILTER COMPANY, INC.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                    FOR THE THREE MONTHS AND SIX MONTHS ENDED

                            MARCH 31, 2002 AND 2001
                                 (Unaudited)

(Amounts in thousands)

                                Three months ended        Six months ended
                                     March 31                  March 31
                                2002          2001        2002         2001


Cash flows from operating
 activities:

Net income                   $  159         $    8      $  534        $   86

Adjustments to reconcile
 net income to net cash
 provided by operating
 activities:

Depreciation and amortization    66             76         131           147

Change in assets and liabilities:

(Increase) decrease in:
Accounts receivable             124             40        (201)          169
Inventories                      45           (309)       (125)         (312)
Prepaid expenses & other
 assets                         (21)            (8)        (57)          (60)
Increase (decrease) in:
Accounts payable & accrued
 expenses                        18            (37)        695          (120)
                             -------        -------    --------       -------

Net cash provided by (used
 in) operating activities       391           (230)        977           (90)
                             -------        -------    --------       -------

Cash flows from investing
activities:

Investments                  (1,040)           943        (530)          925
Capital expenditures             (8)           (99)        (36)         (193)
                             -------        -------    --------       -------

Net cash provided by (used
 in) investing activities    (1,048)           844        (566)          732



Cash flows from financing
activities:

Purchase of treasury stock        0            (54)          0          (382)
Cash dividend paid             (203)             0        (203)            0
                             -------        -------     -------       -------
Net cash used in
 financing activities          (203)           (54)       (203)         (382)

(Decrease) increase in cash
 and cash equivalents          (860)           560         208           260

Cash and cash equivalents
 at beginning of period       1,441            325         373           625
                             -------        -------     -------       -------

Cash and cash equivalents
 at end of period            $  581         $  885      $  581        $  885
                             =======        =======     =======       =======

<FN>
See Accompanying Notes to Consolidated Financial Statements

<PAGE>


                    MICROWAVE FILTER COMPANY, INC.

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           MARCH 31, 2002


Note 1. Summary of Significant Accounting Policies

  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. The Operating results for the six
month period ended March 31, 2002 are not necessarily indicative of the
results that may be expected for the year ended September 30, 2002. For
further information, refer to the consolidated financial statements and notes
thereto included in the Company's Annual Report on Form 10K for the year ended
September 30, 2001.

Note 2. Industry Segment Data

  The Company's primary business segments involve (1) operations of Microwave
Filter Company, Inc. (MFC) which manufactures filters used for preventing
interference or signal processing in cable television, satellite, broadcast,
aerospace and government markets; and (2) operations of Niagara Scientific,
Inc. (NSI) which manufactures industrial automation equipment.

Information by segment is as follows:
                               Three months ended    Six months ended
 (thousands of dollars)             March 31             March 31,
                                 2002      2001       2002      2001

Net Sales (Unaffiliated):
   MFC                          $1,722    $1,546     $4,091    $3,200
   NSI                             389       133        410       409
                                ------    ------     ------    ------
   Total                        $2,111    $1,679     $4,501    $3,609
                                ======    ======     ======    ======

Operating profit (loss): (a)
   MFC                            $229      $27       $843      $175
   NSI                               3      (37)       (51)      (89)
                                ------    ------     ------    ------
   Total                          $232     ($10)      $792       $86
                                ======    ======    =======   =======

Identifiable assets: (b)
   MFC                          $4,162    $3,231     $4,162    $3,231
   NSI                             553       611        553       611
                                ------    ------     ------    ------
   Subtotal                      4,715     3,842      4,715     3,842
   Corporate Assets - Cash
   And Cash Equivalents            581       885        581       885
                                ------    ------     ------    ------
   Total                        $5,296    $4,727     $5,296    $4,727
                                ======    ======     ======    ======

(a) Operating profit (loss) is total revenue less cost of goods sold and
operating expenses. In computing operating profit, none of the following items
have been added or deducted: interest expense, income taxes and miscellaneous
income. Expenses incurred on behalf of both Companies are allocated based upon
estimates of their relationship to each entity.

(b) Identifiable assets by industry are those assets that are used in the
Companies operations in each industry.



<PAGE>




Note 3. Inventories

  Inventories net of provision for obsolescence consisted of the following:

  (thousands of dollars)              March 31, 2002    September 30, 2001

Raw materials and stock parts              $630                 $702
Work-in-process                             314                  106
Finished goods                               65                   76
                                         ------                 ----
                                         $1,009                 $884
                                         ======                 ====

  The Company's provision for obsolescence equaled $297,634 at March 31,
2002 and September 30, 2001.



Note 4. Recent Accounting Pronouncements

  In June 2001, the Financial Accounting Standards Board ("FASB") approved
Statements of Financial Accounting Standards No. 141 "Business Combinations"
("SFAS 141") and No. 142 "Goodwill and Other Intangible Assets" ("SFAS 142")
which are effective July 1, 2001 and October 1, 2002, respectively, for the
Corporation.  SFAS 141 requires that the purchase method of accounting be used
for all business combinations initiated after June 30, 2001.  This has no
material impact on the financial statements of the Company.  Under SFAS 142,
amortization of goodwill, including goodwill recorded in past business
combinations, will discontinue upon adoption of this standard. All goodwill
and intangible assets will be tested for impairment in accordance with the
provisions of the Statement.  The Company believes SFAS 142 will not have a
material impact on its financial statements.

  In October 2001, FASB issued SFAS No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets."  SFAS 144 provides guidance on the accounting
for long-lived assets to be held and used and for assets to be disposed of
through sale or other means. SFAS 144 is effective for fiscal years beginning
after December 15, 2001.  The Company does not expect the adoption of SFAS 144
to have a material impact on its financial statements.

<page>


                    MICROWAVE FILTER COMPANY, INC.

                     MANAGEMENT'S DISCUSSION AND
                 ANALYSIS OF FINANCIAL CONDITION AND
                        RESULTS OF OPERATIONS



  Microwave Filter Company, Inc. operates primarily in the United States and
principally in two industries. The Company extends credit to business
customers based upon ongoing credit evaluations. Microwave Filter Company,
Inc. (MFC) designs, develops, manufactures and sells electronic filters, both
for radio and microwave frequencies, to help process signal distribution and
to prevent unwanted signals from disrupting transmit or receive operations.
Markets served include cable television, television and radio broadcast,
satellite broadcast, mobile radio, commercial and defense electronics. Niagara
Scientific, Inc. (NSI), a wholly owned subsidiary, custom designs case packing
machines to automatically pack products into shipping cases. Customers are
typically processors of food and other commodity products with a need to
reduce labor cost with a modest investment and quick payback.


RESULTS OF OPERATIONS


THREE MONTHS ENDED MARCH 31, 2002 vs. THREE MONTHS ENDED MARCH 31, 2001.

  Net sales for the three months ended March 31, 2002 equaled $2,110,951, an
increase of $431,497 or 25.7% when compared to net sales of $1,679,454 for the
three months ended March 31, 2001.

  MFC sales for the three months ended March 31, 2002 equaled $1,721,592, an
increase of $174,972 or 11.3% when compared to sales of $1,546,620 for the
three months ended March 31, 2001. The increase in MFC sales can primarily be
attributed to an increase in the sales of the company's standard
cable/satellite TV products, which management attributes to the increase in
demand for the company's filters which suppress strong out-of-band
interference caused by military and civilian radar systems. This increase in
demand can primarily be attributed to the increased security measures being
taken as a result of the September 11th terrorist attacks. The Company is
uncertain how long this demand will continue and what levels it will reach.
Investment has been made to increase manufacturing capacity in these product
areas. There can be no assurance that the Company's sales levels or growth
will remain at, reach or exceed historical levels in any future period.

  Due to current economic conditions, MFC has experienced declines in sales in
some product markets. For the three months ended March 31, 2002, MFC's
RF/Microwave product sales were down $122,963 or 30.2% to $284,669 when
compared to sales of $407,632 for the three months ended March 31, 2001. For
the three months ended March 31, 2002, MFC's Broadcast TV/Wireless product
sales were down $128,642 or 57.5% to $94,923 when compared to sales of
$223,565 for the three months ended March 31, 2001.


   MFC's sales order backlog equaled $399,768 at March 31, 2002, an increase
of $105,688 when compared to sales order backlog of $294,080 at December 31,
2001. However, backlog is not necessarily indicative of future sales.
Accordingly, the Company does not believe that its backlog as of any
particular date is representative of actual sales for any succeeding period.
Approximately 90% of MFC's sales order backlog at March 31, 2002 is scheduled
to ship by September 30, 2002.

  The Company continues to invest in production engineering and infrastructure
development to penetrate OEM (Original Equipment Manufacturer) market segments
as they become popular. MFC is concentrating its technical resources and
product development efforts toward potential high volume customers as part of
a concentrated effort to provide substantial long-term growth.

  NSI sales for the three months ended March 31, 2002 equaled $389,359, an
increase of $256,525 or 193% when compared to sales of $132,834 for the three
months ended March 31, 2001. Sales of NSI related equipment, on a quarter to
quarter basis, can be impacted by the timing of the shipment of the custom
designed equipment and the customer's scheduled delivery dates. At March 31,
2002, NSI's backlog equaled $245,600 compared to $589,552 at December 31,
2001. NSI continues to feel the effects of the sluggish economy and reduced
capital spending. NSI's total backlog of orders is scheduled to ship by
September 30, 2002.

  Net income for the three months ended March 31, 2002 equaled $158,781, an
increase of $150,690 when compared to net income of $8,091 for the three
months ended March 31, 2001. The increase in net income can primarily be
attributed to the increase in sales and improved profit margins.

  Gross profit for the three months ended March 31, 2002 equaled $793,606, an
increase of $230,358 or 40.9% when compared to gross profit of $563,248 for
the three months ended March 31, 2001. As a percentage of sales, gross profit
equaled 37.6% for the three months ended March 31, 2002 compared to 33.5% for
the three months ended March 31, 2001. The dollar increase in gross profit can
be attributed to both the improvement in gross profit as a percentage of sales
and the increased sales volume. The improvement in gross profit as a
percentage of sales, when compared to the same period last year, can primarily
be attributed to product sales mix, operational efficiencies and economies of
scale due to the higher production volume.

  Selling, general and administrative (SGA) expenses for the three months
ended March 31, 2002 equaled $561,989, a decrease of $10,686 or 1.9% when
compared to SG&A expenses of $572,675 for the three months ended March 31,
2001. SGA expenses decreased to 26.6% of sales for the three months ended
March 31, 2002 when compared to 34.1% of sales for the three months ended
March 31, 2001, primarily due to the increase in sales this year when compared
to the same period last year. Due to the uncertain economic climate, the
Company is emphasizing cost controls and cost cutting measures to minimize
operating expenses.

  On an industry segment basis, MFC's income from operations for the three
months ended March 31, 2002 equaled $228,973, an increase of $201,070 or 87.8%
when compared to income from operations of $27,903 for the three months ended
March 31, 2001. The increase in MFC's income from operations can primarily be
attributed to the higher sales volume and the improved profit margins. NSI's
income from operations equaled $2,644 for the three months ended March 31,
2002 compared to a loss from operations of $37,330 for the three months ended
March 31, 2001. NSI's improvement can primarily be attributed to the increase
in sales.


SIX MONTHS ENDED MARCH 31, 2002 vs. SIX MONTHS ENDED MARCH 31, 2001.

  Net sales for the six months ended March 31, 2002 equaled $4,501,411, an
increase of $892,339 or 24.7% when compared to net sales of $3,609,072 for
the six months ended March 31, 2001.

  MFC sales for the six months ended March 31, 2002 equaled $4,091,320, an
increase of $891,217 or 27.8% when compared to sales of $3,200,103 for the six
months ended March 31, 2001. The increase in MFC sales is primarily due to the
increase in the sales of the company's standard cable/satellite TV products,
which management attributes to the increase in demand for the company's
filters which suppress strong out-of-band interference caused by military and
civilian radar systems.

  NSI sales for the six months ended March 31, 2002 equaled $410,091, an
increase of $1,122 when compared to sales of $408,969 for the six months ended
March 31, 2001. Sales of NSI related equipment, on a quarter to quarter basis,
can be impacted by the timing of the shipment of the custom designed equipment
and the customer's scheduled delivery dates.

  Net income for the six months ended March 31, 2002 equaled $534,273, an
increase of $447,607 or 516% when compared to net income of $86,666 for the
six months ended March 31, 2001. The increase in net income is primarily due
to the higher sales and improved profit margins when compared to the same
period last year.

  Gross profit for the six months ended March 31, 2002 equaled $1,963,697 or
43.6% of sales, an increase of $722,031 or 58.2%, when compared to gross
profit of $1,241,666 or 34.4% of sales for the six months ended March 31,
2001. The improvements can primarily be attributed to the higher sales volume,
product sales mix, operational efficiencies and economies of scale.

  SG&A expenses for the six months ended March 31, 2002 equaled $1,171,662, an
increase of $15,736 or 1.4% when compared to SG&A expenses of $1,155,926 for
the six months ended March 31, 2001. Due to the uncertain economic climate,
the Company is emphasizing cost controls and cost cutting measures to minimize
operating expenses.

<PAGE>

LIQUIDITY and CAPITAL RESOURCES

  Cash and cash equivalents increased $207,914 to $581,056 at March 31, 2002
when compared to $373,142 at September 30, 2001. The increase was a result of
$977,053 in net cash provided by operating activities, $565,805 in net cash
used in investing activities and $203,334 in net cash used in financing
activities.

  The increase of $201,450 in accounts receivable at March 31, 2002, when
compared to September 30, 2001, is attributable to increased shipments during
the quarter ended March 31, 2002 when compared to the quarter ended September
30, 2001.

  The increase of $124,925 in inventories at March 31, 2002, when compared to
September 30, 2001, can primarily be attributable to the increase in the sales
order backlog at March 31, 2002 when compared to September 30, 2001.

  The increase in accounts payable of $138,444 at March 31, 2002, when
compared to September 30, 2001, can primarily be attributed to the increase in
purchases as a result of the increase in the sales order backlog at March 31,
2002 when compared to September 30, 2001.

  The increase of $156,761 in customer deposits at March 31, 2002, when
compared to September 30, 2001, can primarily be attributable to the increase
in the Company's sales order backlog.

  The increase in accrued federal and state income taxes payable of $279,031
at March 31, 2002, when compared to September 30, 2001, can primarily be
attributed to the increase in pre-tax income.

  Cash used in investing activities during the six months ended March 31, 2002
consisted of funds used to purchase investments ($529,771) and funds used for
capital expenditures ($36,034).

  Cash used in financing activities during the six months ended March 31, 2002
consisted of funds used to pay a cash dividend ($203,334) on March 13, 2002.

  At March 31, 2002, the Company had unused aggregate lines of credit totaling
$600,000. Of these lines, $100,000 is for the purchase of equipment and is
collateralized by equipment and $500,000 is for working capital and is
collateralized by accounts receivable, inventories and equipment.

  Management believes that its working capital requirements for the forseeable
future will be met by its existing cash balances, future cash flows from
operations and its current credit arrangements.


RECENT ACCOUNTING PRONOUNCEMENTS

  In June 2001, the Financial Accounting Standards Board ("FASB") approved
Statements of Financial Accounting Standards No. 141 "Business Combinations"
("SFAS 141") and No. 142 "Goodwill and Other Intangible Assets" ("SFAS 142")
which are effective July 1, 2001 and October 1, 2002, respectively, for the
Corporation.  SFAS 141 requires that the purchase method of accounting be used
for all business combinations initiated after June 30, 2001.  This has no
material impact on the financial statements of the Company.  Under SFAS 142,
amortization of goodwill, including goodwill recorded in past business
combinations, will discontinue upon adoption of this standard. All goodwill
and intangible assets will be tested for impairment in accordance with the
provisions of the Statement.  The Company believes SFAS 142 will not have a
material impact on its financial statements.

  In October 2001, FASB issued SFAS No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets."  SFAS 144 provides guidance on the accounting
for long-lived assets to be held and used and for assets to be disposed of
through sale or other means. SFAS 144 is effective for fiscal years beginning
after December 15, 2001.  The Company does not expect the adoption of SFAS 144
to have a material impact on its financial statements.


SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995

  Any statements contained in this report which are not historical facts are
forward looking statements; and, therefore, many important factors could
cause actual results to differ materially from those in the forward looking
statements. Such factors include, but are not limited to, changes
(legislative, regulatory and otherwise) in the MMDS, LPTV or Cable industry,
demand for the Company's products (both domestically and internationally),
the development of competitive products, competitive pricing, market
acceptance of new product introductions, technological changes, general
economic conditions, litigation and other factors, risks and uncertainties
which may be identified in the Company's Securities and Exchange Commission
filings.


<PAGE>

                     PART II - OTHER INFORMATION


Item 1.  Legal Proceedings

         The Company is unaware of any material threatened or pending
         litigation against the Company.

Item 2.  Changes in Securities

         None during this reporting period.

Item 3.  Defaults Upon Senior Securities

         The Company has no senior securities.

Item 4.  Submission of Matters to a Vote of Security Holders

     a.  The Annual meeting of the Shareholders was held on April 10,
         2002 at the Holiday Inn, Carrier Circle, East Syracuse, New York
         13057 at 10:00 A.M. pursuant to notice to the shareholders.

         The following matters were submitted to the vote of shareholders:

         Proposal 1. The election of three directors to hold office until
         the Annual Meeting of the Shareholders at which their term expires
         or until their successors have been duly elected.


         Proposal 2. The ratification of PricewaterhouseCoopers LLP as the
         Company's independent auditors for the fiscal year ending
         September 30, 2002.

     b. The following named persons received the number of votes set opposite
        their respective names for election to the Board of Directors:

      DIRECTORS               VOTES FOR        AUTHORITY
                                               WITHHELD

      Carl F. Fahrenkrug      2,581,734           6,999
      Daniel Galbally         2,584,262           4,471
      Frank S. Markovich      2,584,808           3,925

     c. The following proposition received the number of votes set opposite
        its respective number:

                            VOTES FOR      VOTES AGAINST      ABSTENTIONS

      Proposal 2            2,582,895         4,348              1,490




Item 6.  Exhibits and Reports on Form 8-K

         None.

<PAGE>

    Pursuant to the requirements of the Securities and Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


                               MICROWAVE FILTER COMPANY, INC.


May 14, 2002                     Carl F. Fahrenkrug
(Date)                           --------------------------
                                 Carl F. Fahrenkrug
                                 Chief Executive Officer

May 14, 2002                     Richard L. Jones
(Date)                           --------------------------
                                 Richard L. Jones
                                 Chief Financial Officer