<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                   FORM 10-Q

              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1997

                                       OR

             [ ] Transition Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934
               For the Transition Period from ______ to ________

                         Commission File Number 0-22370


                          CHECKMATE ELECTRONICS, INC.
             (Exact name of Registrant as specified in its charter)

      Georgia                                                     88-0117097
     (State of                                              (I.R.S. Employer 
     Incorporation)                                         Identification No.) 
                                                            

                   1003 Mansell Road, Roswell, Georgia  30076
          (Address of principal executive offices, including zip code)

                                 (770) 594-6000
              (Registrant's telephone number, including area code)
                                 ______________

Indicate by check mark whether the 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 twelve months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.  Yes   x    No   ___
                                        -----          

Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of the latest practicable date.


          Class                              Outstanding at July 30, 1997
----------------------------------           ----------------------------
   Common Stock, $.01 par value                    5,368,638 shares



                                  Page 1 of 14
                          Index of Exhibits on Page 13

                                       1
<PAGE>
 
                          CHECKMATE ELECTRONICS, INC.

                         QUARTERLY REPORT ON FORM 10-Q
                      FOR THE QUARTER ENDED JUNE 30, 1997

                               TABLE OF CONTENTS
                               -----------------

<TABLE>
<CAPTION>
                                                                       PAGE
PART 1.   FINANCIAL INFORMATION                                       NUMBER
                                                                      ------
<S>            <C>                                                    <C>  
Item 1         Financial Statements (Unaudited):
 
               Condensed Balance Sheets -- June 30, 1997
                     and December 31, 1996                             3
 
               Condensed Statements of Operations -- Three Months 
                     and Six Months Ended June 30,1997 and 1996        4
                   
                         
               Condensed Statements of Cash Flows -- Six
                     Months Ended June 30, 1997 and 1996               5
 
               Notes to Condensed Financial Statements                 6
 
Item 2         Management's Discussion and Analysis of Financial
                     Condition and Results of Operations               7
 
 
PART II.   OTHER INFORMATION
 
Item 4         Submission of Matters to a Vote of Security Holders    11
 
Item 6         Exhibits and Reports on Form 8-K                       11
 
SIGNATURES                                                            12
INDEX OF EXHIBITS                                                     13
</TABLE>

                                       2
<PAGE>
 
                        PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements
-----------------------------
 
                          CHECKMATE ELECTRONICS, INC.

                           CONDENSED BALANCE SHEETS

<TABLE> 
<CAPTION> 
                                                                June 30,        December 31,
                                                                  1997             1996     
                                                              --------------    ------------
                                                               (Unaudited)        (Note)
<S>                                                           <C>               <C> 
                                    ASSETS
Current assets:
 Cash and cash equivalents                                       $ 1,734,221    $ 2,204,103
 Investments                                                       5,991,841      6,970,297
 Accounts receivable, net                                          6,868,912      8,452,736
 Inventories                                                      13,655,514      7,869,751
 Deferred tax asset                                                  650,514        636,000
 Prepaid expenses                                                    143,779        961,296
                                                               --------------    ------------    
     Total current assets                                         29,044,781     27,094,183
 
Property and equipment                                             8,555,056      6,850,633
Accumulated depreciation and amortization                         (3,375,513)    (2,718,682)
                                                               --------------    ------------ 
                                                                   5,179,543      4,131,951
Other assets                                                       3,024,977      2,326,089
                                                               --------------   -------------                                      
Total assets                                                     $37,249,301    $33,552,223
                                                               ==============   =============

                     LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
  Accounts payable                                               $ 4,863,783    $ 1,158,081
  Accrued liabilities                                                659,282      1,368,889
  Deferred revenue                                                 1,137,339      1,072,305
  Current portion of long-term obligations                           153,040        160,687
                                                               --------------   -------------                                
    Total current liabilities                                      6,813,444      3,759,962
 

Long-term obligations, less current portion                          125,214        202,704
Deferred income taxes                                              1,285,000      1,285,000
Shareholders' equity:
 Common stock, $.01 par value                                         53,692         52,318
 Additional paid-in capital                                       24,223,605     23,025,539
 Retained earnings                                                 4,748,346      5,226,700
                                                               --------------   -------------                             
   Total shareholders' equity                                     29,025,643     28,304,557
                                                               --------------   -------------                             
Total liabilities and shareholders' equity                       $37,249,301    $33,552,223
                                                               =============    =============  
</TABLE> 


Note: The condensed balance sheet at December 31, 1996 has been derived from the
audited finanicals statements of the Company at that date but does not include
all the information required by generally accepted accounting principles for
complete financial statements

See notes to condensed financial statements.

                                       3
<PAGE>
 
                          CHECKMATE ELECTRONICS, INC.

 
                      CONDENSED STATEMENTS OF OPERATIONS
                                  (Unaudited)
 
<TABLE> 
<CAPTION> 
                                                             THREE MONTHS ENDED                         SIX MONTHS ENDED
                                                                   JUNE 30,                                   JUNE 30,
                                                     -----------------------------------     ---------------------------------------

                                                            1997                1996                  1997                1996
                                                     -----------------------------------     ---------------------------------------

<S>                                                  <C>                   <C>               <C>                      <C>  
Net revenues                                         $       5,074,513     $  10,668,855     $       14,580,090       $ 18,588,720
 
Cost of goods sold                                           3,242,280         6,209,375              8,755,426         10,971,867
                                                     -----------------     -------------     ------------------       ------------
Gross profit                                                 1,832,233         4,459,480              5,824,664          7,616,853
 
Operating expenses:
  Selling, general and administrative                        3,121,356         2,349,892              5,796,291          4,456,507
  Research and development                                     305,198           157,562                538,871            306,476
  Depreciation and amortization                                225,270           150,051                393,410            290,222
                                                     -----------------     -------------     ------------------       ------------  

                                                             3,651,824         2,657,505              6,728,572          5,053,205
                                                     -----------------     -------------     ------------------       ------------ 
Operating income (loss)                                     (1,819,591)        1,801,975               (903,908)         2,563,648
 
Interest income, net                                            85,491            85,997                170,554            166,427
                                                     -----------------     -------------     ------------------       ------------

Income (loss) before income taxes                            (1,734,100)       1,887,972               (733,354)         2,730,075
Income taxes                                                   (595,000)         698,000               (255,000)         1,010,000
                                                     ------------------    -------------     ------------------       ------------
Net income (loss)                                    $       (1,139,100)   $   1,189,972     $         (478,354)      $  1,720,075
                                                     ==================    =============     ==================       ============

Net income (loss) per share                          $            (0.21)   $        0.21     $            (0.09)      $       0.31
                                                     ==================    =============     ==================       ============
Weighted average number of
  shares outstanding                                          5,354,000        5,606,000              5,306,000          5,586,000
                                                     ==================    =============     ==================       ============
</TABLE>

See notes to condensed financial statements

                                       4
<PAGE>
 
                          CHECKMATE ELECTRONICS, INC.

                      CONDENSED STATEMENTS OF CASH FLOWS
                                  (Unaudited)

<TABLE> 
<CAPTION> 
                                                                           SIX MONTHS ENDED
                                                                               JUNE 30,
                                                                     ------------------------------
                                                                           1997         1996
                                                                     -------------  ---------------
<S>                                                                  <C>            <C> 
Net cash provided by operating activities                            $     188,204  $  1,685,177
                                               
                                               
Investing activities:                          
   Purchases of marketable securities                                   (5,958,703) (11,481,898)
   Proceeds from sales of marketable securities                          6,923,414   11,271,867
   Purchases of property and equipment                                  (1,704,423)    (843,658)
   Capitalized software                                                   (712,152)    (382,582)
   Other                                                                  (320,525)    (103,831)
                                                                     -------------  ----------- 
Net cash used in investing activities                                   (1,772,389)  (1,540,102)
 
Financing activities:
   Payments on long-term obligations                                       (85,137)     (83,092)
   Proceeds from exercise of stock options                               1,199,440      585,200
                                                                     -------------  -----------
Net cash provided by financing activities                                1,114,303      502,108
                                                                     -------------  -----------   

Net increase (decrease) in cash and cash equivalents                      (469,882)     647,183
Cash and cash equivalents at beginning of period                         2,204,103      878,065
                                                                     -------------  -----------
Cash and cash equivalents at end of period                           $   1,734,221  $ 1,525,248
                                                                     =============  ===========
</TABLE> 

See notes to condensed financial statements.

                                       5
<PAGE>
 
                          CHECKMATE ELECTRONICS, INC.

                    NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  (UNAUDITED)

                                 JUNE 30, 1997


1. BASIS OF PRESENTATION

The accompanying unaudited condensed 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.  These statements should be read in conjunction with the Company's
audited financial statements included in the Company's 1996 Annual Report.
Operating results for the three and six months ended June 30, 1997 are not
necessarily indicative of the results that may be expected for the year ending
December 31, 1997 or any interim period.


2.  INVENTORIES

Inventories are summarized by class as follows:

<TABLE>
<CAPTION>
                                      MARCH 31         DECEMBER 31
                                        1997             1996     
                                   ---------------   ---------------
 
     <S>                           <C>               <C>
     Finished goods                   $ 3,888,052        $1,364,740
     Work in process                    2,459,786           107,275
     Raw materials and supplies         7,307,676         6,397,736
                                    --------------   --------------- 
                                      $13,655,514        $7,869,751
                                    ==============   ===============
</TABLE>

3.   NEW ACCOUNTING PRONOUNCEMENTS

In February 1997 the Financial Accounting Standards Board issued a new
accounting pronouncement, SFAS No. 128, "Earnings per Share", which will change
the current method of computing earnings per share.  The new standard requires
presentation of "basic earnings per share" and "diluted earnings per share"
amounts, as defined.  SFAS No. 128 will be effective for the Company's quarter
and year ending December 31, 1997, and, upon adoption, all prior-period earnings
per share data presented shall be restated to conform with the provisions of the
new pronouncement.  Application earlier than the Company's quarter ending
December 31, 1997 is not permitted.

Pro forma basic and diluted earnings per share for the quarters ended June 30,
1997 and 1996 calculated under the provisions of SFAS No. 128 are as follows:

<TABLE>
<CAPTION>
 
                                                                   THREE MONTHS ENDED                 SIX MONTHS ENDED
                                                                         JUNE 30                           JUNE 30
                                                          ----------------------------------    ---------------------------
                                                                 1997             1996              1997          1996
                                                          -----------------  ---------------    ------------  -------------
 
     <S>                                                  <C>                <C>                <C>           <C>   
     Basic earnings per share                                   $  (0.21)          $ 0.23           $ (0.09)       $ 0.34
     Diluted earnings per share                                 $  (0.21)          $ 0.21           $ (0.09)       $ 0.31 
</TABLE> 

                                       6
<PAGE>
 
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
------------------------------------------------------------------------
RESULTS OF OPERATIONS
---------------------
 
 RESULTS OF OPERATIONS - THREE AND SIX MONTHS ENDED JUNE 30, 1997 COMPARED TO
 THREE AND SIX MONTHS ENDED JUNE 30, 1996
 
     The following table sets forth certain items derived from the Company's
statements of operations:

<TABLE> 
<CAPTION> 
                                                    
                                        THREE MONTHS ENDED JUNE 30                           SIX MONTHS ENDED JUNE 30
                               -----------------------------------------------       ------------------------------------------
                                        1997                  1996                         1997                      1996     
                               ----------------------   ----------------------       --------------------    ------------------ 
                                   AMOUNT       %         AMOUNT     %                 AMOUNT       %          AMOUNT     % 
                               ----------------------   ----------------------       --------------------    ------------------ 
<S>                            <C>             <C>      <C>          <C>             <C>            <C>      <C>        <C> 
Net revenues                        $ 5,074    100.0 %     $10,669   100.0 %            $14,580     100.0 %   $18,589   100.0 %
Cost of goods sold                    3,242     63.9         6,210    58.2                8,755      60.1      10,972    59.0
                               ----------------------   ----------------------       --------------------    ------------------ 
Gross profit                          1,832     36.1         4,459    41.8                5,825      39.9       7,617    41.0
Operating expenses:                                                                                                          
   Selling, general and                                                                                                      
      administrative                  3,121     61.5         2,350    22.0                5,796      39.7       4,457    24.0
   Research and                                                                                                              
      development                       305      6.0           157     1.5                  539       3.7         306     1.6
   Depreciation and                                                                                                          
      amortization                      225      4.5           150     1.4                  393       2.7         290     1.6
                               ----------------------   ----------------------       --------------------    ------------------ 
Total operating                                                                                                             
   expenses                           3,651     72.0         2,657    24.9                6,728      46.1       5,053    27.2
                               ----------------------   ----------------------       --------------------    ------------------ 
Operating income                                                                                                           
    (loss)                           (1,819)   (35.9)        1,802    16.9                 (903)     (6.2)      2,564    13.8
Interest income, net                     85      1.7            86     0.8                  170       1.2         166     0.9
                               ----------------------   ----------------------       --------------------    ------------------ 
Income (loss)  before                                                                                                       
   income taxes                      (1,734)   (34.2)        1,888    17.7                 (733)     (5.0)      2,730    14.7
Provision for income                                                                                                         
   taxes                               (595)   (11.7)          698     6.5                 (255)     (1.7)      1,010     5.4
                               ----------------------   ----------------------       --------------------    ------------------ 
Net income (loss)                   $(1,139)   (22.4)%     $ 1,190    11.2 %            $  (478)     (3.3)%   $ 1,720     9.3 %
                               ======================   ======================       ====================    ================== 
                                                                                                                          
Net revenues by product:                                                                                                  
                                                                                                                          
Check readers                       $ 1,996     39.3 %     $ 5,487    51.4 %            $ 6,110      41.9 %   $ 9,365    50.4 %
Debit/credit card                                                                                                          
   terminals                          1,419     28.0         3,820    35.8                5,646      38.7       7,223    38.9
Combination units                       703     13.9           299     2.8                1,024       7.0         337     1.8
Signature capture                                                                                                            
   devices                              234      4.6           589     5.5                  439       3.0         611     3.3
Service and other                       722     14.2           474     4.5                1,361       9.4       1,053     5.6
                               ----------------------   ----------------------       --------------------    ------------------ 
                                    $ 5,074    100.0 %     $10,669   100.0 %            $14,580     100.0%    $18,589   100.0 %
                               ======================   ======================       ====================    ================== 
</TABLE>
    
     Any trends that may be derived from the above tables are not necessarily
indicative of the Company's future operations.

     Net revenues decreased 52.4% in the three months ended June 30, 1997 as
compared to the same period in 1996. The decline in net revenues in 1997 was
experienced in sales of check readers, debit/credit card terminals, and
signature capture devices.  These products generally are sold to major
retailers, and management believes that these retailers have delayed their
buying decisions for the near term.  Management believes this delay is temporary
in nature, but can make no assurances regarding its duration.  Revenues from the
combination unit were the highest in the product's history, increasing 135.1%
and 203.9%, respectively, over the three and six months ended June 30, 1996.
Similarly, service revenues continued to show strong growth in the three and six
month periods.

                                       7
<PAGE>
 
     Cost of goods sold as a percentage of net revenues was 63.9% in the three
months ended June 30, 1997, compared to 58.2% in the 1996 period.  The primary
factor in the increase of this percentage from 1996 to 1997 was lower revenues.
The Company anticipates that cost of goods sold will be affected in the future
by changes in product mix as well as by net revenue generated by selling price
and unit cost changes, among other factors.
 
     Selling, general and administrative expenses increased 32.8% over the
second quarter of 1996, due primarily to higher personnel costs in sales,
engineering, information systems and human resources areas, as well as the
recording of severance expense in 1997.  During the quarter, the Company
recorded severance expense of $375,000 to provide for expenditures in connection
with the severance arrangements for the Company's former President and Chief
Executive Officer.

     Product development expenditures include research and development expense
and capitalized software development costs and consist primarily of labor.  A
summary of product development efforts is as follows:

<TABLE>
<CAPTION>
                                                            Three Months Ended                  Six Months Ended     
                                                                  June 30,                           June 30,        
                                                       ------------------------------   ------------------------------
                                                             1997            1996               1997          1996      
                                                       --------------- --------------   ---------------- -------------   
<S>                                                    <C>             <C>              <C>               <C>           
Gross product development  expenditures                   $ 746,000       $ 338,000         $1,251,000      $ 689,000   
Capitalized software development costs                     (441,000)       (180,000)          (712,000)     (383,000)   
                                                       --------------- --------------   ---------------- -------------   
Net research and development expense                        305,000         158,000            539,000       306,000    
Amortization of previously capitalized costs                105,000          71,000            185,000       130,000    
                                                       --------------- --------------   ---------------- -------------
Total expense                                             $ 410,000       $ 229,000         $  724,000     $ 436,000    
                                                       =============== ==============   ================ =============
Product development as a percent of net revenues:                                                                       
    Gross expenditures                                       14.7%           3.2%               8.6%          3.7%      
    Net expense                                               6.0%           1.5%               3.7%          1.6%      
    Total expense                                             8.1%           2.1%               5.0%          2.3%       
</TABLE>

     The increase in the dollar amount of product development expenditures
resulted from the Company's continuing efforts to remain at the forefront of
payment automation technology.  The Company expects to continue to increase
product development expenditures for the foreseeable future as the Company is
dedicated to developing new products and enhancing its existing products.

     Depreciation and amortization expenses increased to 6.0% of net revenues in
the second quarter of 1997 from 1.5% of net revenues in the prior period.  The
increase in the dollar amount in 1997  resulted from capital expenditures
associated with the growth in personnel and improvements in information systems.
The increase in the percent of net revenues is due to the increase in the dollar
amount of the expense, as well as a lower revenue base.

     Interest income, net was consistent between periods.
 
     The effective tax rate was 34.3% in the second quarter of 1997 and 37.0% in
1996.  The decrease in the effective tax rate in 1997 was due primarily  to  a
lower effective state tax rate.

                                       8
<PAGE>
 
     The above factors resulted in the Company recording a net loss for the
three and six months ended June 30, 1997,  compared to net income for the prior
year periods.  The weighted average number of shares outstanding decreased 4.5%
from 1996 to 1997 due to the exclusion of stock options from the computation of
weighted average shares outstanding, since including these items would have the
effect of decreasing the loss per share as reported.

LIQUIDITY AND CAPITAL RESOURCES

     Net cash provided by operating activities was $188,000 in the three months
ended June 30, 1997 and $1,685,000 in the three months ended June 30, 1996.  The
net cash provided by operating activities in 1997 was primarily due to a
decrease in accounts receivable and an increase in accounts payable, partially
offset by an increase in inventories.  The Company experiences normal
fluctuations in its accounts receivable balance, including days outstanding, due
to a variety of factors, including the Company's overall sales performance when
compared to prior periods, the timing of shipments to its customers and
individual customer negotiated terms of sale.  The rate of inventory turnover
experienced by the Company also is dependent upon a variety of factors,
including anticipated inventory requirements to fulfill current and future
customer orders in a timely manner, individual customer negotiated contracts of
sale and the availability of key components used in the manufacturing process.
Increases in these accounts during 1997 and 1996 have been caused by anticipated
increases in sales volumes and by new product introductions.  The Company
anticipates that fluctuations in these accounts will continue in the future.

     Net cash used in investing activities was $1,772,000 in the three months
ended June 30, 1997 and $1,540,000 in the three months ended June 30, 1996.
Purchases of property and equipment and additions to capitalized software and
other noncurrent assets were $2,737,000 and $1,330,000 in the three months ended
June 30, 1997 and 1996, respectively.  These uses of net cash were offset by
proceeds from the sale of investments of $965,000 in 1997, and were increased by
the net purchase of investments of $210,000 in  1996.

     Net cash provided by financing activities was $1,114,000 in the three
months ended June 30, 1997 and $502,000 in the three months ended June 30, 1996.
The increase in net cash provided by financing activities in 1997 was due to
the exercise of stock options, primarily by the estate of a former employee.

     The Company's working capital position was $22,231,000 at June 30, 1997.
The Company had no commitments for material capital expenditures as of June 30,
1997.  During the remainder of 1997, the Company anticipates that it will spend
approximately $2,000,000 for capital expenditures, including additions to
capitalized software.  The Company believes that its working capital position at
June 30, 1997, together with anticipated future cash flows from operations and
the borrowing available under its revolving credit agreement, are sufficient to
meet the Company's operating needs, including possible increases in accounts
receivable and inventories, along with planned capital expenditures for at least
the next twelve to eighteen months.

     The Company's operating results have fluctuated on a quarterly basis in the
past and may vary significantly in future periods due to a variety of factors.
These factors include, but are not limited to, the timing of orders from and
shipments to major customers, the timing of new product introductions by the
Company and its competitors, variations in the Company's product mix and
component costs, and competitive pricing pressures.  Due primarily to the above
factors, the results of any particular quarter may not be indicative of the
results for the full year.

     The above "Management's Discussion and Analysis of Financial Condition and
Results of Operations" contains forward-looking statements subject to the safe
harbor created by the Private Securities Litigation Reform Act of 1995.
Management cautions that these statements represent projections and estimates of
future performance and involve certain risks and uncertainties.  The Company's
actual results could differ materially from those anticipated in these forward-
looking statements as a result of certain factors including, without limitation,
the Company's reliance on check readers in its product mix; the 

                                       9
<PAGE>
 
Company's dependence on its limited suppliers and manufacturers of component
parts of its products; rapid and significant technological developments that
could delay the introduction of improvements in existing products or of new
products; the Company's dependence on its proprietary technologies (which may be
independently developed by competitors); the Company's dependence on a small
number of large retail customers; the potential fluctuation in financial results
as a result of the Company's inability to make sales to large customers as well
as the volume and timing of orders received during a quarter and variations in
sales mix; competition from existing companies as well as new market entrants;
and, the Company's dependence on key personnel.

                                      10
<PAGE>
 
                          PART II.  OTHER INFORMATION


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

     The Annual Meeting of Shareholders was held on Monday, May 19, 1997, in
Atlanta, Georgia, at which the following matters were submitted to a vote of the
shareholders:
 
     (a) Votes cast for or withheld regarding the election of six Directors 
         for a term expiring at the next Annual Meeting of Shareholders 
         were as follows:

<TABLE>
<CAPTION>
                                               FOR          WITHHELD     
                                               ---          --------      
                                                                      
               <S>                             <C>          <C>           
               James W. Crowley                4,204,954        10,090       
               Jerry P. Malec                  4,204,854         9,190       
               John J. Neubert                 4,204,854         9,190       
               Frank C. Peters                 4,204,954        10,090       
               J. Stanford Spence              4,204,854         9,190       
               Howard W. Yenke                 4,204,954        10,090        
</TABLE>                                       

         (b) Votes cast for or withheld regarding the ratification of the
              appointment of Ernst & Young LLP as independent auditors of the 
              Company for the fiscal year ending December 31, 1997 were 
              4,215,044 shares voted for the proposal, and none withheld.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
         --------------------------------

(a)      Exhibits.  The following exhibit is filed as part of this report:
         ---------                                                        

EXHIBIT NO.              DESCRIPTION
----------               -----------


 11.                 Statement re Computation of Per Share Earnings


(b)      Reports on Form 8-K.  No Current Reports on Form 8-K were filed by the
         --------------------                                                  
         Company during the quarter ended June 30, 1997.

                                      11
<PAGE>
 
                                   SIGNATURES



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


                                                  CHECKMATE ELECTRONICS, INC.
                                                         (Registrant)


Date:  August 12, 1997                         /s/ J. Stanford Spence   
                                               ------------------------------
                                               J. Stanford Spence       
                                               Chairman, President and  
                                               Chief Executive Officer  
                                               (Duly Authorized Officer) 


Date:  August 12, 1997                         /s/ John J. Neubert          
                                               ------------------------------
                                               John J. Neubert              
                                               Chief Operating Officer,     
                                               Chief Financial Officer and  
                                               Senior Vice President        
                                               (Principal Financial Officer) 

                                      12
<PAGE>
 
                               INDEX OF EXHIBITS


   EXHIBIT
   -------
     NO.       DESCRIPTION
               -----------

     11        Statement re Computation of Per Share Earnings
 
     27        Financial Data Schedule

                                      13