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                 June 30, 2001

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 June
30, 2001.




<PAGE>




                     PART I. - FINANCIAL INFORMATION


                         MICROWAVE FILTER COMPANY, INC.

                     CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
(Amounts in thousands)
                              June 30, 2001         SEPTEMBER 30, 2000
                               (Unaudited)
<S>                                 <C>                    <C>
Assets

Current Assets:

Cash and cash equivalents           $ 1,139                $   625
Investments                               0                    925
Accounts receivable-trade, net          547                    897
Inventories                             986                  1,104
Deferred tax asset - current            178                    178
Prepaid expenses and other
 current assets                         117                     78
                                     --------              --------

Total current assets                  2,967                  3,807

Property, plant and equipment, net    1,325                  1,336
                                    --------               --------

Total assets                        $ 4,292                $ 5,143
                                    ========               ========

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable                    $   171                $   392
Customer deposits                        14                    155
Accrued federal and state
 income taxes                            92                    189
Accrued payroll and related
 expenses                                88                    100
Accrued compensated absences            276                    267
Other current liabilities                52                    121
                                    --------               --------

Total current liabilities               693                  1,224

Deferred tax liability -
 noncurrent                              48                     48
                                    --------               --------



Total liabilities                       741                  1,272
                                    --------               --------
Stockholders' Equity:

Common stock,$.10 par value             432                    432
Additional paid-in capital            3,240                  3,240
Retained earnings                     1,385                  1,323
                                    --------               --------
                                      5,057                  4,995
Common stock in treasury,
 at cost                             (1,506)                (1,124)
                                    --------               --------

Total stockholders' equity            3,551                  3,871
                                    --------               --------

Total liabilities and
 stockholders' equity               $ 4,292                $ 5,143
                                    ========               ========

</TABLE>
<FN>
See Accompanying Notes to Condensed Consolidated Financial Statements

<PAGE>

                     MICROWAVE FILTER COMPANY, INC.

            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                  FOR THE THREE MONTHS AND NINE MONTHS

                     ENDED JUNE 30, 2001 AND 2000
                             (Unaudited)


<TABLE>
(Amounts in thousands, except per share data)


                                Three months ended         Nine months ended
                                     June 30                    June 30
                                2001          2000         2001         2000

<S>                            <C>           <C>          <C>          <C>
Net sales                      $1,782        $2,242       $5,391       $5,711

Cost of goods sold              1,286         1,499        3,654        3,708
                               -------       -------      -------      -------
Gross profit                      496           743        1,737        2,003

Selling, general and
 administrative expenses          553           611        1,708        1,716
                               -------       -------      -------      -------
(Loss) income from
 operations                       (57)          132           29          287

Other income (net),
  principally interest             19            29           66           70
                               -------       -------      -------      -------

(Loss) income before
   income taxes                   (38)          161           95          357

(Benefit) provision for
   income taxes                   (13)           56           33          123
                               -------       -------      -------      -------

NET (LOSS) INCOME                ($25)         $105          $62         $234
                               =======       =======      =======      =======

Basic (loss) earnings
   per share                   ($0.01)        $0.03        $0.02        $0.07
                               =======       =======      =======      =======

Weighted average number of
  common shares outstanding     2,905         3,164        2,960        3,171
                               =======       =======      =======      =======

<FN>
See Accompanying Notes to Condensed Consolidated Financial Statements
</TABLE>


<PAGE>



                          MICROWAVE FILTER COMPANY, INC.

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                    FOR THE THREE MONTHS AND NINE MONTHS ENDED

                            JUNE 30, 2001 AND 2000
                                 (Unaudited)

<TABLE>
(Amounts in thousands)

                                Three months ended       Nine months ended
                                     June 30                  June 30
                                2001          2000        2001         2000

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

Net income                   $  (25)        $  105      $   62        $  234

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

Depreciation and amortization    77             77         224           230

Change in assets and liabilities:

(Increase) decrease in:
Accounts receivable             181             (5)        350           (13)
Inventories                     430            180         118           108
Prepaid expenses & other
 assets                          21             38         (39)          (20)
Increase (decrease) in:
Accounts payable & accrued
 expenses                      (409)          (197)       (531)          196
Deferred compensation &
 other liabilities                0             (2)          0            (5)
                             -------        -------    --------       -------

Net cash provided by
 operating activities           275            196         184           730
                             -------        -------    --------       -------

Cash flows from investing activities:

Investments                       0          (900)         925          (125)
Capital expenditures            (21)          (16)        (213)          (59)
                             -------        -------    --------       -------

Net cash provided by (used
 in) investing activities       (21)         (916)         712          (184)



Cash flows from financing activities:

Purchase of treasury stock        0             0         (382)          (60)
Cash dividend paid                0             0            0          (158)
                             -------        -------     -------       -------
Net cash (used in)
 financing activities             0             0         (382)         (218)

Increase (decrease) in cash
 and cash equivalents           254          (720)         514           328

Cash and cash equivalents
 at beginning of period         885         1,312          625           264
                             -------       -------      -------       -------

Cash and cash equivalents
 at end of period            $1,139          $592       $1,139          $592
                             =======       =======      =======       =======

<FN>
See Accompanying Notes to Condensed Consolidated Financial Statements
</TABLE>


<PAGE>



                    MICROWAVE FILTER COMPANY, INC.

         NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                           JUNE 30, 2001



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 nine-
month period ended June 30, 2001 are not necessarily indicative of the results
that may be expected for the year ended September 30, 2001. 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, 2000.



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   Nine months ended
 (thousands of dollars)             June 30,             June 30,
                                 2001      2000       2001      2000

Net Sales (Unaffiliated):
   MFC                          $1,245    $1,626     $4,445    $4,611
   NSI                             537       616        946     1,100
                                ------    ------     ------    ------
   Total                        $1,782    $2,242     $5,391    $5,711
                                ======    ======     ======    ======

Operating profit (loss): (a)
   MFC                            ($42)     $149       $133      $333
   NSI                             (15)      (17)      (104)      (46)
                                ------    ------     ------    ------
   Total                          ($57)     $132        $29      $287
                                ======    ======    =======   =======

Identifiable assets: (b)
   MFC                          $2,867    $3,742     $2,867    $3,742
   NSI                             286       578        286       578
                                ------    ------     ------    ------
   Subtotal                      3,153     4,320      3,153     4,320
   Corporate Assets - Cash
   And Cash Equivalents          1,139       592      1,139       592
                                ------    ------     ------    ------
   Total                        $4,292    $4,912     $4,292    $4,912
                                ======    ======     ======    ======

(a) Operating profit (loss) is total revenue less 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:

                                      June 30, 2001     September 30, 2000

Raw materials and stock parts             $684,216             $675,120
Work-in-process                            241,362              325,270
Finished goods                              60,561              103,440
                                        ----------           ----------
                                          $986,139           $1,103,830
                                        ==========           ==========

  The Company's provision for obsolescence equaled $297,634 at June 30, 2001
and $323,101 AT September 30, 2000.


Note 4. Subsequent Events

  On July 25, 2001, the Board of Directors of Microwave Filter Company, Inc.
declared a three cents per share cash dividend. The dividend will be paid on
September 19, 2001 to shareholders of record on August 22, 2001.


Note 5. Recent Accounting Pronouncements

  In December 1999, the Securities and Exchange Commission issued Staff
Bulletin No. 101 ("SAB 101"), which provides guidance in applying generally
accepted accounting principles to revenue recognition in financial statements.
SAB 101, as amended, will require implementation by the Company in the fourth
quarter of fiscal 2001. The Company believes the Bulletin will not have a
significant effect on its financial statements.

  In June 2001, the Financial Accounting Standards Board 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. Under SFAS 142,
amortization of goodwill, including goodwill recorded in past business
combinations, will discontinue upon adoption of this standard. In addition,
goodwill recorded as a result of business combinations completed during the
six-month period ending December 31, 2001 will not be amortized. All goodwill
and intangible assets will be tested for impairment in accordance with the
provisions of the Statement. The Corporation is currently reviewing the
provisions of SFAS 141 and SFAS 142 and assessing the impact of adoption.
<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 JUNE 30, 2001 vs. THREE MONTHS ENDED JUNE 30, 2000.

  Net sales for the three months ended June 30, 2001 equaled $1,782,032, a
decrease of $460,343 or 20.5% when compared to net sales of $2,242,375 for the
three months ended June 30, 2000.

  MFC sales for the three months ended June 30, 2001 equaled $1,245,195, a
decrease of $380,897 or 23.4% when compared to sales of $1,626,092 for the
three months ended June 30, 2000.  The decrease in MFC sales can primarily be
attributed to the decrease in the sales of MFC's standard cable TV and
wireless cable TV products, which management attributes to the downturn in the
telecommunications marketplace.

  NSI sales for the three months ended June 30, 2001 equaled $536,837, a
decrease of $79,446 or 12.9% when compared to sales of $616,283 for the three
months ended June 30, 2000. 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.

  The Company's sales order backlog equaled $461,966 at June 30, 2001 compared
to $831,388 at September 30, 2000. MFC's sales order backlog equaled $452,846
at June 30, 2001, a decrease of $177,588, when compared to sales order backlog
of $630,434 at September 30, 2000. NSI's sales order backlog equaled $9,120 at
June 30, 2001, a decrease of $191,834 when compared to sales order backlog of
$200,954 at September 30, 2000. Both MFC and NSI have experienced reductions
in sales orders due primarily to the unfavorable economic climate and reduced
capital spending. If market conditions or demand does not improve, 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.

  For the three months ended June 30, 2001, the company recorded a net loss of
$24,696 compared to net income of $105,486 for the three months ended June 30,
2000. The decrease in net income can primarily be attributed to the decrease
in sales.

  Gross profit for the three months ended June 30, 2001 equaled $495,833, a
decrease of $246,694 or 33.2% when compared to gross profit of $742,527 for
the three months ended June 30, 2000. As a percentage of sales, gross profit
equaled 27.8% for the three months ended June 30, 2001 compared to 33.1% for
the three months ended June 30, 2000. The dollar decrease in gross profit can
primarily be attributed to the decrease in sales. The decrease in gross profit
as a percentage of sales, when compared to the same period last year, can
primarily be attributed to product sales mix and the lower sales volume this
year when compared to the same period last year.

  Selling, general and administrative (SGA) expenses for the three months
ended June 30, 2001 equaled $552,396, a decrease of $58,510 or 9.6% when
compared to SG&A expenses of $610,906 for the three months ended June 30,
2000. As a percentage of sales, SGA expenses increased to 31.0% for the three
months ended June 30, 2001, when compared to 27.2% for the three months ended
June 30, 2000, primarily due to the decrease in sales this year when compared
to the same period last year. Sales commission expense was down this year due
to the lower sales and planned reductions were realized in advertising and
promotional expenses and profit sharing expense.


NINE MONTHS ENDED JUNE 30, 2001 vs. NINE MONTHS ENDED JUNE 30, 2000.

  Net sales for the nine months ended June 30, 2001 equaled $5,391,104, a
decrease of $319,848 or 5.6% when compared to net sales of $5,710,952 for
the nine months ended June 30, 2000.

  MFC sales for the nine months ended June 30, 2001 equaled $4,445,298, a
decrease of $165,529 or 3.6% when compared to sales of $4,610,827 for the nine
months ended June 30, 2000.

  NSI sales for the nine months ended June 30, 2001 equaled $945,806, a
decrease of $154,319 or 14.0% when compared to sales of $1,100,125 for the
nine months ended June 30, 2000.

  Net income for the nine months ended June 30, 2001 equaled $61,970, a
decrease of $172,047 or 73.5% when compared to net income of $234,017 for the
nine months ended June 30, 2000. The decrease in net income can primarily be
attributed to the decrease in sales.

  Gross profit for the nine months ended June 30, 2001 equaled $1,737,499, a
decrease of $265,457 or 13.3% when compared to gross profit of $2,002,956 for
the nine months ended June 30, 2000. As a percentage of sales, gross profit
equaled 32.2% for the nine months ended June 30, 2001 compared to 35.1% for
the nine months ended June 30, 2000. The dollar decrease in gross profit can
be attributed to the decrease in sales and lower margins. The decrease in
gross profit as a percentage of sales, when compared to the same period last
year, can primarily be attributed to product sales mix.

  SG&A expenses for the nine months ended June 30, 2001 equaled $1,708,322, a
decrease of $7,802 or 0.5% when compared to SG&A expenses of $1,716,124 for
the nine months ended June 30, 2000. As a percentage of sales, SGA expenses
increased to 31.7% for the nine months ended June 30, 2001 when compared to
30.0% for the nine months ended June 30, 2000, primarily due to the decrease
in sales this year when compared to the same period last year.

  On an industry segment basis, MFC's income from operations for the nine
months ended June 30, 2001 equaled $133,084, a decrease of $199,935 or 60.0%
when compared to income from operations of $333,019 for the nine months ended
June 30, 2000. The decrease in MFC's income from operations can primarily be
attributed to the decrease in sales volume and lower profit margins primarily
due to product sales mix. NSI recorded a loss from operations of $103,907 for
the nine months ended June 30, 2001 compared to a loss from operations of
$46,187 for the nine months ended June 30, 2000.


<PAGE>

LIQUIDITY and CAPITAL RESOURCES

  Cash and cash equivalents increased $513,980 to $1,139,457 at June 30,
2001 when compared to $625,477 at September 30, 2000. The increase was a
result of $183,375 in net cash provided by operating activities, $712,139
in net cash provided by investing activities and $381,534 in net cash used in
financing activities.

  The decrease of $350,287 in accounts receivable at June 30, 2001 when
compared to September 30, 2000 is attributable to decreased shipments during
the quarter ended June 30, 2001 when compared to the quarter ended September
30, 2000. In addition, accounts receivable were offset by the application of
customer deposits associated with the orders which were shipped during the
quarter ended June 30, 2001.

  The decrease of $117,691 in inventories at June 30, 2001 when compared to
September 30, 2000 can primarily be attributable to the decrease in sales
order backlog.

  The decrease in accounts payable of $220,958 at June 30, 2001 when compared
to September 30, 2000 can primarily be attributed to the decrease in purchases
as a result of the decrease in sales orders.

  Cash provided by investing activities during the nine months ended June 30,
2001 consisted of funds provided by the sale of investments ($925,067) and
funds used for capital expenditures ($212,928).

  Cash used in financing activities during the nine months ended June 30, 2001
consisted of funds used to repurchase common stock of the Company ($381,534).

  At June 30, 2001, 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 December 1999,the Securities and Exchange Commission issued Staff
Bulletin No. 101 ("SAB 101"), which provides guidance in applying generally
accepted accounting principles to revenue recognition in financial statements.
SAB 101, as amended, will require implementation by the Company in the fourth
quarter of fiscal 2001. The Company believes the Bulletin will not have a
significant effect on its financial statements.

  In June 2001, the Financial Accounting Standards Board 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. Under SFAS 142,
amortization of goodwill, including goodwill recorded in past business
combinations, will discontinue upon adoption of this standard. In addition,
goodwill recorded as a result of business combinations completed during the
six-month period ending December 31, 2001 will not be amortized. All goodwill
and intangible assets will be tested for impairment in accordance with the
provisions of the Statement. The Corporation is currently reviewing the
provisions of SFAS 141 and SFAS 142 and assessing the impact of adoption.



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

         None during this reporting period.




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.


August 14, 2001                  Carl F. Fahrenkrug
(Date)                           --------------------------
                                 Carl F. Fahrenkrug
                                 Chief Executive Officer

August 14, 2001                  Richard L. Jones
(Date)                           --------------------------
                                 Richard L. Jones
                                 Chief Financial Officer