UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB



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

For the quarterly period ended                 March 31, 2007


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 by check mark whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Exchange Act).

YES (  )           NO ( X )

        Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).

YES (   )          NO ( X )

        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 -    2,901,588 shares as of March 31, 2007.

<PAGE>

                       PART I. - FINANCIAL INFORMATION

                         MICROWAVE FILTER COMPANY, INC.
                          CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)
                               March 31, 2007       September 30, 2006
                                (Unaudited)

Assets

Current Assets:

Cash and cash equivalents           $   571                $   706
Investments                             785                    798
Accounts receivable-trade, net          451                    344
Federal and state income tax
 recoverable                              0                    138
Inventories                             617                    491
Prepaid expenses and other
 current assets                         107                     95
                                    -------                -------

Total current assets                  2,531                  2,572

Property, plant and equipment, net      498                    554
                                    -------                -------

Total assets                        $ 3,029                $ 3,126
                                    =======                =======

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable                    $   165                $   180
Customer deposits                        18                     20
Accrued payroll and related
 expenses                                83                     61
Accrued compensated absences            212                    211
Other current liabilities                40                     37
                                    -------                -------

Total current liabilities               518                    509
                                    -------                -------

Total liabilities                       518                    509
                                    -------                -------
<PAGE>

Stockholders' Equity:

Common stock,$.10 par value             432                    432
Additional paid-in capital            3,249                  3,249
Retained earnings                       350                    456
                                    -------                -------

                                      4,031                  4,137
Common stock in treasury,
 at cost                             (1,520)                (1,520)
                                    -------                -------

Total stockholders' equity            2,511                  2,617
                                    -------                -------

Total liabilities and
 stockholders' equity               $ 3,029                $ 3,126
                                    =======                =======

<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, 2007 AND 2006
                              (Unaudited)

(Amounts in thousands, except per share data)


                                Three months ended         Six months ended
                                     March 31                   March 31
                                2007          2006         2007         2006

Net sales                      $1,276        $1,292       $2,321       $2,373

Cost of goods sold                792           811        1,501        1,531
                               ------        ------       ------       ------
Gross profit                      484           481          820          842

Selling, general and
 administrative expenses          475           542          960        1,044
                               ------        ------       ------       ------
Income (loss) from
  operations                        9           (61)        (140)        (202)

Other income (net),
  principally interest             15            19           34           38
                               ------        ------       ------       ------

Income (loss) before
  income taxes                     24           (42)        (106)        (164)

Provision for income
  taxes                             0             0            0            0
                               ------        ------       ------       ------

NET INCOME (LOSS)                 $24          ($42)       ($106)       ($164)
                               ======        ======       ======       ======
Per share data:

Basic earnings (loss)
   per share                    $0.01        ($0.01)      ($0.04)      ($0.06)
                               ======        ======       ======       ======
Diluted earnings (loss)
   per share                    $0.01        ($0.01)      ($0.03)      ($0.05)
                               ======        ======       ======       ======
Shares used in computing
   net earnings (loss) per share:
   Basic                        2,902         2,908        2,902        2,908
   Diluted                      3,040         3,046        3,041        3,047

<FN>
See Accompanying Notes to Consolidated Financial Statements

<PAGE>

                         MICROWAVE FILTER COMPANY, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                FOR THE SIX MONTHS ENDED MARCH 31, 2007 AND 2006
                                 (Unaudited)

(Amounts in thousands)


                                         Six months ended
                                             March 31
                                         2007        2006

Cash flows from operating
 activities:

Net (loss) income                        ($ 106)     ($ 164)

Adjustments to reconcile
 net (loss) income to net
 cash (used in) provided by
 operating activities:
Depreciation and amortization                57          80

Change in assets and liabilities:
Accounts receivable                        (107)         18
Federal and state income
 tax recoverable                            138         (33)
Inventories                                (126)        (33)
Prepaid expenses & other
 assets                                     (12)         37
Accounts payable & accrued
 expenses                                    11         (68)
Customer deposits                            (2)         25
Federal and state income tax
 taxes payable                                0         (23)
                                          -----       -----
Net cash used in
 operating activities                      (147)       (161)
                                          -----       -----

Cash flows from investing
activities:
Investments                                  14           9
Capital expenditures                         (1)        (40)
                                          -----       -----
Net cash provided by (used in)
 investing activities                        13         (31)
                                          -----       -----

<PAGE>

Cash flows from financing
activities:
Purchase of treasury stock                   (1)        (11)
Cash dividend paid                            0        (291)
                                          -----       -----
Net cash used in financing
 activities                                  (1)       (302)
                                          -----       -----

(Decrease) increase in cash
 and cash equivalents                      (135)       (494)

Cash and cash equivalents
 at beginning of period                     706       1,252
                                          -----       -----

Cash and cash equivalents
 at end of period                         $ 571       $ 758
                                          =====       =====

<FN>

See Accompanying Notes to Consolidated Financial Statements

<PAGE>

                    MICROWAVE FILTER COMPANY, INC.

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        MARCH 31, 2007


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-QSB
Regulation S-B. 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, 2007 are not necessarily indicative of the results that
may be expected for the year ended September 30, 2007. 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, 2006.



Note 2. Industry Segment Data

  The Company's primary business segment involves the operations of Microwave
Filter Company, Inc. (MFC) which 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 communications
and defense electronics.


Note 3. Inventories

  Inventories are stated at the lower of cost determined on the first-in,
first-out method or market.

  Inventories net of reserve for obsolescence consisted of the following:

  (thousands of dollars)             March 31, 2007     September 30, 2006

Raw materials and stock parts              $526                 $412
Work-in-process                              30                   20
Finished goods                               61                   59
                                           ----                 ----
                                           $617                 $491
                                           ====                 ====

  The Company's reserve for obsolescence equaled $389,200 at March 31,
2007 and September 30, 2006.

<PAGE>

Note 4. Income Taxes

  The Company accounts for income taxes under Statement of Financial
Accounting Standards (SFAS) No. 109.  Deferred tax assets and liabilities are
based on the difference between the financial statement and tax basis of
assets and liabilities as measured by the enacted tax rates which are
anticipated to be in effect when these differences reverse. The deferred tax
provision is the result of the net change in the deferred tax assets and
liabilities.  A valuation allowance is established when it is necessary to
reduce deferred tax assets to amounts expected to be realized. The Company has
provided a full valuation allowance against its deferred tax assets.


Note 5. Stock Options

  On April 9, 1998, the Board of Directors and Shareholders of Microwave
Filter Company, Inc. approved the 1998 Microwave Filter Company, Inc.
Incentive Stock Plan (the "1998 Plan"). Under the 1998 Plan, the Company may
grant incentive stock options ("ISOs"), non-qualified stock options ("NQSOs")
and stock appreciation rights to directors, officers and employees of the
Company and its affiliates. The 1998 Plan reserves 150,000 shares for
issuance. The exercise price of the ISOs and NQSOs will be 100% of the fair
market value of the Common Stock on the date the ISOs and NQSOs are granted.
The 1998 Plan will terminate on April 10, 2008. On June 21, 2004, the Board of
Directors granted ISOs totaling 115,000 shares and NQSOs totaling 35,000
shares at an exercise price of $1.47. All options were 100% vested.

  We accounted for our incentive stock plan under the recognition and
measurement principles of Accounting Principles Board Opinion No. 25,
Accounting for stock issued to employees. No compensation expense has been
recognized in the accompanying financial statements relative to our stock
option plan.

  The Company has adopted the provisions of SFAS No. 123R, "Share-Based
Payment", for the fiscal year beginning October 1, 2006.

A summary of all stock option activity and information related to all options
outstanding follows:

<PAGE>

<TABLE>
<CAPTION>
                                    Six months ended
                                     March 31, 2007
                                   ------------------
                            ISOs                     NQSOs
                          --------                  --------
                       Exercise   Shares         Exercise   Shares
                        Price                     Price
                       --------  --------        --------  --------
<S>                    <C>       <C>             <C>       <C>
Outstanding at
 beginning of period   $1.47     108,548         $1.47     30,000
Granted                  -           0             -          0
Exercised                -           0             -          0
Cancelled                -           0             -          0
                       ------   --------         ------  --------
Outstanding at
  end of period        $1.47     108,548         $1.47     30,000
                       ------   --------         ------  --------
Exercisable at
  end of period        $1.47     108,548         $1.47     30,000
                       ------   --------        -------  --------

</TABLE>

<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 one industry. 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 communications 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.


Critical Accounting Policies


  The Company's consolidated financial statements are based on the application
of generally accepted accounting principles (GAAP).  GAAP requires the use of
estimates, assumptions, judgments and subjective interpretations of accounting
principles that have an impact on the assets, liabilities, revenue and expense
amounts  reported.  The Company believes its use of estimates and underlying
accounting assumptions adhere to GAAP and are consistently applied. Valuations
based on estimates are reviewed for reasonableness and adequacy on a
consistent  basis  throughout  the  Company. Primary areas where financial
information of the Company is subject to the use of estimates, assumptions and
the application  of judgment include revenues, receivables, inventories, and
taxes. Note 1 to the consolidated financial statements in our Annual Report on
Form 10-K for the fiscal year ended September 30, 2006 describes the
significant accounting policies used in preparation of the consolidated
financial statements. The most significant areas involving management
judgments and estimates are described below and are considered by management
to be critical to understanding the financial condition and results of
operations of the Company.

  Revenues from product sales are recorded as the products are shipped and
title and risk of loss have passed to the customer, provided that no
significant vendor or post-contract support obligations remain and the
collection of the related receivable is probable. Billings in advance of the
Company's performance of such work are reflected as customer deposits in the
accompanying consolidated balance sheet.

  Allowances for doubtful accounts are based on estimates of losses related to
customer receivable balances.  The establishment of reserves requires the use
of judgment and assumptions regarding the potential for losses on receivable
balances.

<PAGE>

  The Company's inventories are stated at the lower of cost determined on the
first-in, first-out method or market.  The Company uses certain estimates and
judgments and considers several factors including product demand and changes
in technology to provide for excess and obsolescence reserves to properly
value inventory.

  The Company established a warranty reserve which provides for the estimated
cost of product returns based upon historical experience and any known
conditions or circumstances. Our warranty obligation is affected by product
that does not meet specifications and performance requirements and any related
costs of addressing such matters.

  The Company accounts for income taxes under Statement of Financial
Accounting Standards (SFAS) No. 109.  Deferred tax assets and liabilities are
based on the difference between the financial statement and tax basis of
assets and liabilities as measured by the enacted tax rates which are
anticipated to be in effect when these differences reverse. The deferred tax
provision is the result of the net change in the deferred tax assets and
liabilities.  A valuation allowance is established when it is necessary to
reduce deferred tax assets to amounts expected to be realized. The Company has
provided a full valuation allowance against its deferred tax assets.



RESULTS OF OPERATIONS


THREE MONTHS ENDED MARCH 31, 2007 vs. THREE MONTHS ENDED MARCH 31, 2006
The following table sets forth the Company's net sales by major product
group for the three months ended March 31, 2007 and 2006.


Product group (in thousands)          Fiscal 2007    Fiscal 2006

Microwave Filter (MFC):
  Cable TV                               $  537         $  386
  RF/Microwave                              462            615
  Satellite                                 234            253
  Broadcast TV                               36             28
Niagara Scientific (NSI)                      7             10
                                         ------         ------
  Total                                  $1,276         $1,292
                                         ======         ======
Sales backlog at 3/31                    $  634         $  476
                                         ======         ======

  Net sales for the three months ended March 31, 2007 equaled $1,276,391, a
decrease of $16,038 or 1.2%, when compared to net sales of $1,292,429 for the
three months ended March 31, 2006.

  MFC sales for the three months ended March 31, 2007 equaled $1,269,253, a
decrease of $13,430 or 1.0%, when compared to sales of $1,282,683 for the
three months ended March 31, 2006.

<PAGE>

  MFC's Cable TV product sales increased $151,525 or 39.3% to $537,310 during
the three months ended March 31, 2007 when compared to Cable TV product sales
of $385,785 during the same period last year. Despite the increase in Cable TV
sales, management continues to project a decrease in demand for Cable TV
products due to the shift from analog to digital television. Although the
Company has developed filters for digital television, the demand for these
types of filters is unknown at this time.

  MFC's RF/Microwave product sales decreased $153,399 or 24.9% to $462,184 for
the three months ended March 31, 2007 when compared to RF/Microwave product
sales of $615,583 during the same period last year. The decrease can be
attributed to a decrease in sales to the U. S. Government. For the three
months ended March 31, 2007 sales to the U.S. Government equaled $134,930
compared to sales to the U.S. Government of $254,953 during the three months
ended March 31, 2006. MFC's RF/Microwave products are sold primarily to
original equipment manufacturers (OEMs) that serve the mobile radio,
commercial communications and defense electronics markets. The Company
continues to invest in production engineering and infrastructure development
to penetrate OEM (Original Equipment Manufacturer) market segments as they
become popular. As a result of these efforts, the Company's Quality Management
System has been certified ISO 9001:2000 recognizing the Company as a quality
vendor. 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. The Company is also updating
its RF/Microwave (OEM) product catalog with new products and is planning a
mailing during the quarter ended June 30, 2007.

  MFC's Satellite product sales for the three months ended March 31, 2007
equaled $234,198, a decrease of $19,217 or 7.6%, when compared to sales of
$253,415 during the same period last year. The decrease can be attributed to a
decrease in demand for the Company's filters which suppress strong out-of-band
interference caused by military and civilian radar systems and other sources.
Management expects demand for these types of filters to continue with the
proliferation of earth stations world wide and increased sources of
interference.

  MFC's Broadcast TV/Wireless Cable product sales for the three months ended
March 31, 2007 equaled $35,561, an increase of $7,661 or 27.5%, when compared
to sales of $27,900 during the same period last year. The increase can be
attributed to an increase in demand for UHF Broadcast products.

  MFC's sales order backlog equaled $633,675 at March 31, 2007 compared to
sales order backlog of $476,167 at March 31, 2006. 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 75% of the sales order backlog
at March 31, 2007 is scheduled to ship by September 30, 2007.

  NSI sales for the three months ended March 31, 2007 equaled $7,138, a
decrease of $2,608, when compared to sales of $9,746 for the three months
ended March 31, 2006. NSI sales consist primarily of field service and spare
part orders. NSI has been concentrating on quoting low risk jobs in an effort
to maintain targeted profit margins. Although this may impact sales levels, it
should improve profit margins and also allow engineering resources to focus on
higher priorities.

<PAGE>

  Gross profit for the three months ended March 31, 2007 equaled $484,197, an
increase of $2,714 or 0.6%, when compared to gross profit of $481,483 for the
three months ended March 31, 2006. As a percentage of sales, gross profit
equaled 37.9% for the three months ended March 31, 2007 compared to 37.3% for
the three months ended March 31, 2006.

  Selling, general and administrative (SGA) expenses for the three months
ended March 31, 2007 equaled $474,823, a decrease of $67,452 or 12.4%, when
compared to SG&A expenses of $542,275 for the three months ended March 31,
2006. The decrease can be attributed to decreases in printing and postage
costs which were associated with promotional mailings last year and a decrease
in sales commissions due to the lower RF/Microwave product sales during the
three months ended March 31, 2007 when compared to the same period last year.
As a percentage of sales, SGA expenses  decreased to 37.2% for the three
months ended March 31, 2007 compared to 42.0% for the three months ended March
31, 2006 due primarily to the lower expenses.

  The Company recorded income from operations of $9,374 for the second quarter
ended March 31, 2007 compared to a loss from operations of $60,792 for the
three months ended March 31, 2006. The improvement can primarily be attributed
to the lower SGA expenses this year when compared to the same period last
year.

  Other income for the three months ended March 31, 2007 equaled $15,418, a
decrease of $3,085 or 16.7%, when compared to other income of $18,503 for the
three months ended March 31, 2006. Other income is primarily interest income
earned on invested cash balances. The decrease in other income can primarily
be attributed to the decrease in invested cash balances when compared to last
year. Other income may fluctuate based on market interest rates and levels of
invested cash balances.

  The provision (benefit) for income taxes equaled $0 for the three months
ended March 31, 2007. The benefit for the current year loss has been subject
to a valuation allowance since the realization of the deferred tax benefit is
not considered more likely than not.


SIX MONTHS ENDED MARCH 31, 2007 vs. SIX MONTHS ENDED MARCH 31, 2006
The following table sets forth the Company's net sales by major product
group for the six months ended March 31, 2007 and 2006.


Product group (in thousands)          Fiscal 2007    Fiscal 2006

Microwave Filter (MFC):
  Cable TV                               $  954         $  772
  RF/Microwave                              754          1,022
  Satellite                                 487            504
  Broadcast TV                              101             64
Niagara Scientific (NSI)                     25             11
                                         ------         ------
    Total                                $2,321         $2,373
                                         ======         ======
Sales backlog at 3/31                    $  634         $  476
                                         ======         ======
<PAGE>

  Net sales for the six months ended March 31, 2007 equaled $2,321,464, a
decrease of $51,801 or 2.2%, when compared to net sales of $2,373,265 for the
six months ended March 31, 2006.

  MFC sales for the six months ended March 31, 2007 equaled $2,296,632, a
decrease of $64,755 or 2.7%, when compared to sales of $2,361,387 for the six
months ended March 31, 2006.

  MFC's Cable TV product sales increased $182,285 or 23.6% to $954,277 during
the six months ended March 31, 2007 when compared to Cable TV product sales of
$771,992 during the six months ended March 31, 2006. Despite the increase in
Cable TV sales, management continues to project a decrease in demand for Cable
TV products due to the shift from analog to digital television. Although the
Company has developed filters for digital television, the demand for these
types of filters is unknown at this time.

  MFC's RF/Microwave product sales decreased $267,989 or 26.2% to $754,126 for
the six months ended March 31, 2007 when compared to RF/Microwave product
sales of $1,022,115 during the same period last year. The decrease can be
attributed to a decrease in sales to the U. S. Government. For the six months
ended March 31, 2007 sales to the U.S. Government equaled $160,777 compared to
sales to the U.S. Government of $434,691 during the six months ended March 31,
2006. MFC's RF/Microwave products are sold primarily to original equipment
manufacturers (OEMs) that serve the mobile radio, commercial communications
and defense electronics markets. The Company continues to invest in production
engineering and infrastructure development to penetrate OEM (Original
Equipment Manufacturer) market segments as they become popular. As a result of
these efforts, the Company's Quality Management System has been certified ISO
9001:2000 recognizing the Company as a quality vendor. 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. The Company is also updating its RF/Microwave (OEM) product
catalog with new products and is planning a mailing during the quarter ended
June 30, 2007.

  MFC's Satellite product sales for the six months ended March 31, 2007
equaled $487,219, a decrease of $16,465 or 3.3%, when compared to sales of
$503,684 during the same period last year. The decrease can be attributed to a
decrease in demand for the Company's filters which suppress strong out-of-band
interference caused by military and civilian radar systems and other sources.
Management expects demand for these types of filters to continue with the
proliferation of earth stations world wide and increased sources of
interference.

  MFC's Broadcast TV/Wireless Cable product sales for the six months ended
March 31, 2007 equaled $101,010, an increase of $37,414 or 58.8%, when
compared to sales of $63,596 during the same period last year. The increase
can be attributed to an increase in demand for UHF Broadcast products.

  NSI sales for the six months ended March 31, 2007 equaled $24,832, an
increase of $12,954, when compared to sales of $11,878 for the six months
ended March 31, 2006. NSI sales consist primarily of field service and spare
part orders. NSI has been concentrating on quoting low risk jobs in an effort
to maintain targeted profit margins. Although this may impact sales levels, it
should improve profit margins and also allow engineering resources to focus on
higher priorities.

<PAGE>

  Gross profit for the six months ended March 31, 2007 equaled $820,297, a
decrease of $21,527, or 2.6%, when compared to gross profit of $841,824 for
the six months ended March 31, 2006. As a percentage of sales, gross profit
equaled 35.3% for the six months ended March 31, 2007 compared to 35.5% for
the six months ended March 31, 2006. The decrease in gross profit can
primarily be attributed to the lower sales volume this year when compared to
last year.

  SG&A expenses for the six months ended March 31, 2007 equaled $960,443 a
decrease of $83,014 or 8.0%, when compared to SG&A expenses of $1,043,457 for
the six months ended March 31, 2006. The decrease can be attributed to
decreases in printing and postage costs which were associated with promotional
mailings last year and a decrease in sales commissions due to the lower
RF/Microwave product sales during the six months ended March 31, 2007 when
compared to the same period last year. As a percentage of sales, SGA expenses
decreased to 41.4% for the six months ended March 31, 2007 compared to 44.0%
for the six months ended March 31, 2006 due primarily to the lower expenses.

  The Company recorded a loss from operations of $140,146 for the six months
ended March 31, 2007 compared to a loss from operations of $201,633 for the
six months ended March 31, 2006. The improvement can primarily be attributed
to the lower  SGA expenses this year when compared to the same period last
year.

  Other income for the six months ended March 31, 2007 equaled $34,374, a
decrease of $3,563, when compared to other income of $37,937 for the six
months ended March 31, 2006. Other income is primarily interest income earned
on invested cash balances. The decrease in other income can primarily be
attributed to the decrease in invested cash balances when compared to last
year. Other income may fluctuate based on market interest rates and levels of
invested cash balances.

  The provision (benefit) for income taxes equaled $0 for the six months ended
March 31, 2007. The benefit for the current year loss has been subject to a
valuation allowance since the realization of the deferred tax benefit is not
considered more likely than not.




Off-Balance Sheet Arrangements

  At March 31, 2007 and 2006, the Company did not have any unconsolidated
entities or financial partnerships, such as entities often referred to as
structured finance or special purpose entities, which might have been
established for the purpose of facilitating off-balance sheet arrangements.

<PAGE>

LIQUIDITY and CAPITAL RESOURCES

                              Mar. 31, 2007       Sep. 30, 2006

Cash & cash equivalents           $570,583            $705,646
Investments                       $784,420            $798,544
Working capital                 $2,012,663          $2,063,269
Current ratio                    4.89 to 1           5.05 to 1
Long-term debt                     $     0             $     0


  Cash and cash equivalents decreased $135,063 to $570,583, at March 31, 2007
when compared to cash and cash equivalents of $705,646 at September 30, 2006.
The decrease was a result of $147,358 in net cash used in operating
activities, $13,226 in net cash provided by investing activities and $931 in
net cash used in financing activities.

  The increase of $107,031 in accounts receivable at March 31, 2007, when
compared to September 30, 2006, can primarily be attributable to the increase
in shipments during the month of March 2007 when compared to the month of
September 2006.

  The increase of $126,250 in inventories at March 31, 2007, when compared to
September 30, 2006, can primarily be attributable to the sales order backlog
and our customers scheduled delivery dates.

  Cash used in investing activities during the six months ended March 31, 2007
consisted of funds provided by the sale of investments of $14,124 and funds
used for capital expenditures of $898.

  Cash used in financing activities during the six months ended March 31, 2007
consisted of funds used to purchase treasury stock of $931.

  At March 31, 2007, the Company had unused aggregate lines of credit totaling
$750,000 collateralized by all inventory, equipment and accounts receivable.

  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.



FACTORS THAT MAY AFFECT FUTURE RESULTS OF OPERATIONS, FINANCIAL CONDITION OR
BUSINESS
--------------------------------------------------------------------------------

  An investment in our common stock involves a high degree of risk. The risks
and uncertainties described below are not the only ones we face. Additional
risks and uncertainties that we are unaware of, or that we may currently deem
immaterial, may become important factors that harm our business, financial
condition or results of operations. If any of the following risks actually
occur, our business, financial condition or results of operations could
suffer. In that case, the trading price of our common stock could decline, and
you may lose all or part of your investment.

<PAGE>
  Demand for existing products may decline.

  Demand for our products depends upon, among other factors, the level of
capital expenditures by current and prospective customers, the rate of
economic growth in the markets in which we compete and the competitiveness of
our products. Changes in any of these factors could have an adverse effect on
our financial condition or results of operations.

  We must continue to assess and predict customer needs and evolving
technologies. We must develop new products, including enhancements to existing
products, and successfully manufacture, market and sell these products. If we
are unsuccessful in these areas, our financial condition or results of
operations could be adversely affected.

  Our inability to introduce new and enhanced products on a timely basis.

  Delays in development, testing, manufacture and/or release of new products
could adversely affect our sales and results of operations. In addition, there
can be no assurance that we will successfully identify new product
opportunities, develop and bring new products to market in a timely manner and
achieve market acceptance of our products, or that products and technologies
developed by others will not render our products or technologies obsolete or
noncompetitive.

  Market acceptance of newly developed products may be slower than anticipated.

  The markets for our products are competitive and may be characterized by
rapid technological change, new product development and evolving industry
standards. If technologies supported by our products become obsolete or fail
to gain widespread acceptance, our business could be harmed. Current and
potential competitors may have substantially greater financial, technical,
marketing, distribution and other resources than us, and have greater name
recognition and market acceptance of their products and technologies. Our
competitors may develop new technologies or products that may offer superior
price or performance features and may render our products and technologies
obsolete and noncompetitive.

  Pricing pressures from our customers and/or market pressure from competitors
may reduce selling prices.

  Many of our customers are under continuous pressure to reduce costs and,
therefore, we expect to continue to experience pressure from these customers
to reduce the prices of the products that we sell to them. To offset declining
average sales prices, we believe that we must achieve manufacturing cost
reductions and increase our sales volumes. If we are unable to offset
declining average selling prices, our gross margins will decline, and this
decline could materially harm our business, financial condition and operating
results. We also compete with companies which have substantially larger
operations and greater financial, engineering, marketing, production and other
resources than we have. These competitors may develop their products more
quickly, devote greater marketing and sales resources, or offer more
aggressive pricing, than we can. As a result, this could cause us to lose
orders or customers or force reductions in selling prices, all of which would
have a material adverse impact on our financial position and results of
operations.

<PAGE>

  Difficulty in obtaining an adequate supply of raw materials or components at
reasonable prices.

  The Company depends on outside suppliers for raw materials, components and
parts, and services. Although items are generally available from a number of
suppliers, the Company purchases certain raw materials and components from a
single supplier. If such a supplier should cease to supply an item, the
Company believes that new sources could be found to provide the raw materials
and components. However, manufacturing delays and added costs could result.
The Company has not experienced significant delays of this nature in the past,
but there can be no assurance that delays in delivery due to supply shortages
will not occur in the future. Substantial periods of lead time for delivery of
certain materials are sometimes experienced by the Company, making it
necessary to inventory varied quantities of materials.


  Loss of key personnel or the inability to attract new employees.

  Our success depends in large part on the continued service of our key
technical and management personnel, and on our ability to attract and retain
qualified employees, particularly those involved in the development of new
products and processes and the manufacture of existing products. The
competition for these individuals is significant, and the loss of key
employees could harm our business.


  Our stock may be removed from The Nasdaq Capital Market System.

  On March 16, 2007, the Company received a letter from Nasdaq indicating that
the Company fails to comply with the minimum $2,500,000 stockholders' equity
requirement for continued listing set forth in  Marketplace Rule
4310(c)(2)(B), and that its securities are, therefore, subject to delisting
from The Nasdaq Capital Market. The Company met with a Listing Qualifications
Hearing Panel on April 26, 2007 to demonstrate both its ability to regain
compliance and its ability to sustain long-term compliance with all applicable
criteria for continued listing. After consideration of the entire record, and
generally within 30 days, the Panel will issue a written decision. There can
be no assurance the Panel will grant the Company's request for continued
listing. Should our stock lose its eligibility to be quoted on the Nasdaq
Capital Market, we will seek to have our stock quoted on the OTCBB. While we
know of no reason that our stock will not be accepted for quotation on OTCBB,
we cannot guarantee that acceptance. If our stock is not accepted for listing
on the OTCBB, our stock will be traded on the pink sheets.

<PAGE>

RECENT PRONOUNCEMENTS
----------------------

  In February 2007, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Accounting Standard ("SFAS") No. 159, "The Fair Value
Option for Financial Assets and Financial Liabilities, including an amendment
of FASB Statement No. 115".  SFAS 159 permits entities to choose to measure
many financial instruments and certain other items at fair value at specified
election dates.  This Statement applies to all entities, including not-for-
profit organizations.  SFAS 159 is effective as of the beginning of an
entity's first fiscal year that begins after November 15, 2007. As such, the
Company is required to adopt these provisions at the beginning of the fiscal
year ended September 30, 2009. The Company is currently evaluating the impact
of SFAS 159 on its consolidated financial statements.

  FASB Interpretation 48 was issued in July 2006 to clarify the criteria for
recognizing tax benefits under FASB Statement No. 109, Accounting for Income
Taxes. The Interpretation defines the threshold for recognizing the benefits
of tax-return positions in the financial statements as "more-likely-than-not"
to be sustained by the taxing authority and will affect many companies'
reported results and their disclosures of uncertain tax positions. The
Interpretation does not prescribe the type of evidence required to support
meeting the more-likely-than-not threshold, stating that it depends on the
individual facts and circumstances. The benefit recognized for a tax position
meeting the more-likely-than-not criterion is measured based on the largest
benefit that is more than 50 percent likely to be realized. The measurement of
the related benefit is determined by considering the probabilities of the
amounts that could be realized upon ultimate settlement, assuming the taxing
authority has full knowledge of all relevant facts and including expected
negotiated settlements with the taxing authority. Interpretation 48 is
effective as of the beginning of the first fiscal year beginning after
December 15, 2006 (the Company's 2008 fiscal year). The company is currently
analyzing the financial statement impact of adopting this pronouncement.

  Accounting for Pension and Other Postretirement Benefits -- In September
2006, the FASB published Statement of Financial Accounting No. 158, Employers
Accounting for Defined Benefit Pension and Other Postretirement Plans. This
statement requires companies to report on their balance sheets the funded
status of pension and other post retirement benefit plans. The proposal would
also require companies to measure plan assets and obligations as of the
employer's balance-sheet date. As a result, companies would recognize on their
balance sheets actuarial gains and losses and prior service cost that have not
yet been included in income. This could significantly increase reported
liabilities for many companies with a corresponding reduction in equity
reported as accumulated other comprehensive income. The provisions for the
statement are effective for fiscal years ending after December 15, 2006, (the
Company's 2007 fiscal year) with earlier application encouraged. The Company
does not expect the adoption of SFAS No. 158 in fiscal 2007 to have an impact
on its results of operations or financial position.

<PAGE>

  In September 2006, SEC Staff Accounting Bulletin No. 108 was issued to
provide guidance on Quantifying Financial Statement Misstatements. Staff
Accounting Bulletin No. 108 addresses how the effects of prior-year
uncorrected misstatements should be considered when quantifying misstatements
in current-year financial statements. The SAB requires registrants to quantify
misstatements using both the balance sheet and income-statement approaches and
to evaluate whether either approach results in quantifying an error that is
material in light of relevant quantitative and qualitative factors. The SAB
does not change the staff's previous guidance in SAB 99 on evaluating the
materiality of misstatements. When the effect of initial adoption is
determined to be material, the SAB allows registrants to record that effect as
a cumulative-effect adjustment to beginning-of-year retained earnings. The
requirements are effective for annual financial statements covering the first
fiscal year ending after November 15, 2006 (the Company's fiscal 2007).

  Fair Value Measurements. In September 2006, the FASB published Statement of
Financial Accounting No. 157, Fair Value Measurements. This Statement
establishes a single authoritative definition of fair value, sets out a
framework for measuring fair value, and requires additional disclosures about
fair-value measurements. The Statement applies only to fair-value measurements
that are already required or permitted by other accounting standards and is
expected to increase the consistency of those measurements. It will also
affect current practices by nullifying the Emerging Issues Task Force (EITF)
guidance that prohibited recognition of gains or losses at the inception of
derivative transactions whose fair value is estimated by applying a model and
by eliminating the use of "blockage" factors by brokers, dealers, and
investment companies that have been applying AICPA Guides. The Statement is
effective for fair-value measures already required or permitted by other
standards for financial statements issued for fiscal years beginning after
November 15, 2007 (the Company's fiscal 2009) and interim periods within those
fiscal years. Early application is permissible only if no annual or interim
financial statements have been issued for the earlier periods. The
requirements of the Statement are applied prospectively, except for changes in
fair value related to estimating he fair value of a large block position and
instruments measured at fair value at initial recognition based on transaction
price in accordance with EITF 02-3 or Statement 155.

<PAGE>

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

  In an effort to provide investors a balanced view of the Company's current
condition and future growth opportunities, this Quarterly Report on Form 10-
QSB includes comments by the Company's management about future performance.
These statements which are not historical information are "forward-looking
statements" pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These, and other forward-looking statements,
are subject to business and economic risks and uncertainties that could cause
actual results to differ materially from those discussed. These risks and
uncertainties include, but are not limited to: risks associated with demand
for and market acceptance of existing and newly developed products as to which
the Company has made significant investments; general economic and industry
conditions; slower than anticipated penetration into the satellite
communications, mobile radio and commercial and defense electronics markets;
competitive products and pricing pressures; increased pricing pressure from
our customers; risks relating to governmental regulatory actions in broadcast,
communications and defense programs; as well as other risks and uncertainties,
including but not limited to those detailed from time to time in the Company's
Securities and Exchange Commission filings. These forward-looking statements
are made only as of the date hereof, and the Company undertakes no obligation
to update or revise the forward-looking statements, whether as a result of new
information, future events or otherwise. You are encouraged to review
Microwave Filter Company's 2006 Annual Report and Form 10-K for the fiscal
year ended September 30, 2006 and other Securities and Exchange Commission
filings. Forward looking statements may be made directly in this document or
"incorporated by reference" from other documents. You can find many of these
statements by looking for words like "believes," "expects," "anticipates,"
"estimates," or similar expressions.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

  There has been no significant change in our exposures to market risk during
the six months ended March 31, 2007. For a detailed discussion of market risk,
see our Annual Report on Form 10-K for the fiscal year ended September 30,
2006, Part II, Item 7A, Quantitative and Qualitative Disclosures About Market
Risk.


ITEM 4. CONTROLS AND PROCEDURES

1.    Evaluation of disclosure controls and procedures. Based on their
      evaluation of the Company's disclosure controls and procedures (as
      defined in Rules 13a-15(e) and 15d-15(e) under the Securities
      Exchange Act of 1934) as of the end of the period covered by this
      Quarterly Report on Form 10-Q, the Company's chief executive officer
      and chief financial officer have concluded that the Company's
      disclosure controls and procedures are effective.

2.    Changes in internal control over financial reporting. During the period
      covered by this Quarterly Report on Form 10-Q, there were no changes in
      the Company's internal control over financial reporting (as defined in
      Rule 13a-15(f)) that have materially affected, or are reasonably
      likely to materially affect, the Company's internal control over
      financial reporting.

<PAGE>

                     PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

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


Item 1A. The Company is exposed to certain risk factors that may effect
         operations and/or financial results. The significant factors known to
         the Company are described in the Company's most recently filed annual
         report on Form 10-K and above. Except for the following risk factor,
         there have been no material changes from the risk factors as
         previously disclosed in the Company's annual report on Form 10-K.

         Our stock may be removed from The Nasdaq Capital Market System.

         On March 16, 2007, the Company received a letter from Nasdaq
         indicating that the Company fails to comply with the minimum
         $2,500,000 stockholders' equity requirement for continued listing set
         forth in  Marketplace Rule 4310(c)(2)(B), and that its securities
         are, therefore, subject to delisting from The Nasdaq Capital Market.
         The Company met with a Listing Qualifications Hearing Panel on April
         26, 2007 to demonstrate both its ability to regain compliance and its
         ability to sustain long-term compliance with all applicable criteria
         for continued listing. After consideration of the entire record, and
         generally within 30 days, the Panel will issue a written decision.
         There can be no assurance the Panel will grant the Company's request
         for continued listing. Should our stock lose its eligibility to be
         quoted on the Nasdaq Capital Market, we will seek to have our stock
         quoted on the OTCBB. While we know of no reason that our stock will
         not be accepted for quotation on OTCBB, we cannot guarantee that
         acceptance. If our stock is not accepted for listing on the OTCBB,
         our stock will be traded on the pink sheets.


Item 2.  Changes in Securities

         None during this reporting period.


Item 3.  Defaults Upon Senior Securities

         The Company has no senior securities.

<PAGE>

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

     a.  The Annual meeting of the Shareholders was held on April 5,
         2007 at the Holiday Inn, Carrier Circle, East Syracuse, New York
         13057 at 10:00 A.M. pursuant to notice to the shareholders.

         The following matter was 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.

     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

       Robert R. Andrews            2,542,557         108,981
       Sidney K. Chong              2,535,233         116,305
       Richard L. Jones             2,541,587         109,951

Item 6.  Exhibits

        a. Exhibits


            31.1 Section 13a-14(a)/15d-14(a) Certification of Carl F. Fahrenkrug

            31.2  Section 13a-14(a)/15d-14(a) Certification of Richard L. Jones

            32.1  Section 1350 Certification of Carl F. Fahrenkrug

            32.2  Section 1350 Certification of Richard L. Jones




    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 3, 2007                      Carl F. Fahrenkrug
(Date)                           --------------------------
                                 Carl F. Fahrenkrug
                                 Chief Executive Officer

May 3, 2007                      Richard L. Jones
(Date)                           --------------------------
                                 Richard L. Jones
                                 Chief Financial Officer