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 March 27, 1999

                                       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 No. 0-22384

                        MICRO COMPONENT TECHNOLOGY, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Minnesota                                       41-0985960
-------------------------------                  -------------------------------
(State or other jurisdiction of                         (I.R.S. Employer
 incorporation or organization)                        Identification No.)

                2340 West County Road C, St. Paul, MN 55113-2528
              ----------------------------------------------------
                    (Address of principal executive offices)

                                 (651) 697-4000
                          -----------------------------
                         (Registrant's telephone number)

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 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days

                               Yes _X_     No ___


The number of shares outstanding of the Registrant's Common Stock, as of April
23, 1999 was 7,394,300.

                               Page 1 of 24 pages
                            Exhibit index on page 14


<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.

                                    FORM 10-Q

                                TABLE OF CONTENTS


PART I - FINANCIAL INFORMATION

         ITEM 1.  FINANCIAL STATEMENTS

                  CONSOLIDATED BALANCE SHEETS                                  3

                  CONSOLIDATED STATEMENTS OF OPERATIONS                        4

                  CONSOLIDATED STATEMENTS OF CASH FLOWS                        5

                  NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS         6

         ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  RESULTS OF OPERATIONS AND FINANCIAL CONDITION                8



PART II. OTHER INFORMATION

         ITEM 1.  LEGAL PROCEEDINGS                                           12

         ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                            12

         SIGNATURES                                                           13

         EXHIBITS AND REPORTS                                                 14


                                       2
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                                    FORM 10-Q
                          PART I. FINANCIAL INFORMATION
                          ITEM 1. FINANCIAL STATEMENTS
                           CONSOLIDATED BALANCE SHEETS
                 (in thousands except share and per share data)
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                          March 27,            June 27,
                            ASSETS                                          1999                 1998
--------------------------------------------------------------          ------------         ------------
<S>                                                                       <C>                  <C>
Current assets:
     Cash and cash equivalents                                            $  1,603             $  2,532

     Accounts receivable, less allowance for doubtful accounts
     of $146 and $250, respectively                                          3,339                3,614

     Inventories:
         Raw materials                                                         896                  878
         Work in process                                                     1,328                1,562
         Finished goods                                                      1,181                1,390
     Other                                                                     179                  152
                                                                          --------             --------
              Total current assets                                           8,526               10,128

Property, plant and equipment                                                3,978                3,952
     Less accumulated depreciation                                          (3,253)              (2,905)
                                                                          --------             --------
     Property, plant and equipment, net                                        725                1,047

Other assets                                                                    48                   51
                                                                          --------             --------

Total assets                                                              $  9,299             $ 11,226
                                                                          ========             ========


             LIABILITIES AND STOCKHOLDERS' EQUITY
--------------------------------------------------------------

Current liabilities:
     Current portion of long term debt                                    $     50             $     50
     Accounts payable                                                        1,137                1,227
     Other accrued liabilities                                               1,186                1,466
                                                                          --------             --------
              Total current liabilities                                      2,373                2,743

Long-term debt and financing obligations                                        46                   83

Commitments and contingencies

Stockholders' equity:
     Common stock, $.01 par value, 20,000,000 authorized,
     7,394,300 and 7,394,300 issued, respectively                               74                   74
     Additional paid-in capital                                             44,012               44,012
     Cumulative translation adjustment                                         (64)                 (64)
     Accumulated deficit                                                   (37,142)             (35,622)
                                                                          --------             --------
       Total stockholders' equity                                            6,880                8,400
                                                                          --------             --------

Total liabilities and stockholders' equity                                $  9,299             $ 11,226
                                                                          ========             ========

</TABLE>

            See notes to unaudited consolidated financial statements


                                       3
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                      CONSOLIDATED STATEMENT OF OPERATIONS
                      (In thousands, except per share data)
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                  Three Months Ended            Nine Months Ended
                                               -----------------------       -----------------------
                                               Mar. 27,       Mar. 28,       Mar. 27,       Mar. 28,
                                                 1999           1998           1999           1998
                                               --------       --------       --------       --------
<S>                                            <C>            <C>            <C>            <C>
Net sales                                      $  4,028       $  3,567       $ 10,716       $ 12,539

Cost of sales                                     2,032          1,783          5,538          5,310
                                               --------       --------       --------       --------

Gross profit                                      1,996          1,784          5,178          7,229

Operating expenses:
      Selling, general and administrative         1,417          1,700          4,569          5,868
      Research and development                      708            888          2,140          2,868
                                               --------       --------       --------       --------

Total operating expenses                          2,125          2,588          6,709          8,736
                                               --------       --------       --------       --------

Loss from operations                               (129)          (804)        (1,531)        (1,507)

      Interest income, net                           18             23             61             95
      Other                                         (14)             8            (50)           135
                                               --------       --------       --------       --------

Total Interest and other                              4             31             11            230
                                               --------       --------       --------       --------

Net Income (loss)                              $   (125)      $   (773)      $ (1,520)      $ (1,277)
                                               ========       ========       ========       ========
Net income (loss) per share:
      Basic                                    $  (0.02)      $  (0.10)      $   (.21)      $  (0.18)
                                               ========       ========       ========       ========
      Diluted                                  $  (0.02)      $  (0.10)      $   (.21)      $  (0.18)
                                               ========       ========       ========       ========

Weighted average common and common
   equivalent shares outstanding:
      Basic                                       7,394          7,376          7,394          7,204
                                               ========       ========       ========       ========
      Diluted                                     7,394          7,376          7,394          7,204
                                               ========       ========       ========       ========
</TABLE>

                  See notes to consolidated financial statement


                                       4
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                   Nine Months Ended
                                                                ----------------------
                                                                March 27,     March 28,
                                                                  1999          1998
                                                                --------      --------
<S>                                                              <C>           <C>
Cash flows from operating activities:
     Net income (loss)                                           $(1,520)      $(1,277)
     Adjustments to reconcile net income (loss) to net cash
         Used by operating activities:
              Depreciation and amortization                          367           366

              Changes in assets and liabilities:
                  Accounts Receivable                                275           959
                  Inventories                                        425        (2,449)
                  Other  assets                                      (24)          126
                  Accounts payable                                   (90)         (580)
                  Other accrued liabilities                         (280)         (247)
                                                                 -------       -------
  Net cash used in operating activities                             (847)       (3,102)
Cash flows from investing activities:
     Maturity of short-term investments                               --         1,169
     Additions to property, plant and equipment                      (45)         (226)
                                                                 -------       -------
  Net cash provided by (used in) investing activities                (45)          943
Cash flows from financing activities:
     Payments of long-term debt                                      (37)         (287)
     Proceeds from issuance of stock                                  --            20
                                                                 -------       -------
  Net cash used in financing activities                              (37)         (267)
                                                                 -------       -------
  Net decrease in cash and cash equivalents                         (929)       (2,426)

Cash and cash equivalents at beginning of period                   2,532         5,360
                                                                 -------       -------

Cash and cash equivalents at end of period                       $ 1,603       $ 2,934
                                                                 =======       =======
</TABLE>

            See notes to unaudited consolidated financial statements


                                       5
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                                    FORM 10-Q
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.       INTERIM FINANCIAL STATEMENTS

         The accompanying unaudited, consolidated financial statements for the
         three and nine month periods ended March 27, 1999 have been prepared in
         accordance with the instructions for SEC Form 10-Q and, accordingly, do
         not include all disclosures 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.

         Interim unaudited financial results should be read in conjunction with
         the audited financial statements included in the SEC Annual Report,
         Form 10-K, for the fiscal year ended June 27, 1998.

         The results of operations for the three and nine months ended March 27,
         1999 are not necessarily indicative of the operating results to be
         expected for the full year.

2.       EARNINGS PER SHARE

         Earnings per share are computed in accordance with Statement of
         Financial Accounting Standards (SFAS) No. 128, "Earnings per Share."
         Basic earnings per share are computed using the weighted average number
         of common shares outstanding during each period. Diluted earnings per
         share include the dilutive effect of common shares potentially issuable
         upon the exercise of stock options and warrants outstanding. Earnings
         per share data for the three and nine month periods ended March 27,
         1999 and March 28, 1998 have been stated and restated, respectively, to
         conform to the provisions of SFAS No. 128. The following table
         reconciles the denominators used in computing basic and diluted
         earnings per share:

                                    Three months ended       Nine months ended
                                   ---------------------------------------------
                                   March 27,   March 28,   March 27,   March 28,
              (in thousands)         1999        1998        1999        1998
                                   ---------------------------------------------
         Weighted average common
           shares outstanding        7,394       7,376       7,394       7,204
         Effect of dilutive stock
           options and warrants (1)     --          --          --          --
                                   ---------------------------------------------
                                     7,394       7,376       7,394       7,204
                                   =============================================

         (1)      The Company reported a loss for all periods presented. No
                  adjustment made for the effect of stock options or warrants as
                  effect is anti-dilutive.


                                       6
<PAGE>


3.       REPORTING OF COMPREHENSIVE NET INCOME OR (LOSS)

         In 1997, the Financial Accounting Standards Board issued Statement of
         Financial Accounting Standards (SFAS), No. 130 "Reporting Comprehensive
         Income" which establishes standards for the reporting and display of
         comprehensive income (loss) and its components in a full set of
         general-purpose financial statements. Under this standard, certain
         revenues, expenses, gains, and losses recognized during the period are
         included in comprehensive income (loss), regardless of whether they are
         considered to be results of operations of the period. During the three
         and nine month periods ended March 27, 1999 and March 28, 1998, total
         comprehensive loss equaled net loss as reported on the Consolidated
         Statements of Operations.

4.       PREFERRED STOCK

         In November 1997, the Company converted 315,789 shares of Class A
         preferred stock to common stock on a one-for-one basis. There were no
         dividends accrued or paid on the preferred stock. The Company no longer
         has shares of preferred stock outstanding. The issuance of the shares
         of common stock was exempt from registration pursuant to section
         3(a)(9) of the Securities Act of 1933. No commission or other
         remuneration was paid to solicit the conversion.


                                       7
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                                    FORM 10-Q
                 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  RESULTS OF OPERATIONS AND FINANCIAL CONDITION

RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 27, 1999

Net sales for the third quarter fiscal 1999, ended March 27, 1999, increased
12.9% to $4.0 million compared to $3.6 million for the same period the previous
year. Record sales of 5100 handlers and the shipment of the first Tapestry unit
in the current year combined to generate the increase in sales. Although sales
activity of the newer products designed to handle the newest technology showed
strength during the quarter, the semiconductor capital equipment market remained
soft in the current year, most notably in older products. While the market
appears to be signaling the beginning of a recovery, net sales are expected to
continue to be adversely affected for the foreseeable future, most pronounced in
the older products.

Gross margins for the third quarter of fiscal 1999 were 49.6%, virtually flat
compared to 50.0% the prior year. Current year sales included a greater mix of
higher margin 5100 products, offset by the increased costs associated with
production ramp up of the Tapestry product. Gross margins are expected to remain
near the 50% level in the near term.

Selling, general and administrative expense in the third quarter of fiscal 1999
was $1.4 million compared to $1.7 million for the same quarter in 1998. The
decrease in current year expense is the result of the cost reduction activities
previously initiated by the Company.

Research and development expense for the third quarter fiscal 1999 was $0.7
million compared to $0.9 million the previous year. The decrease in spending in
the current year resulted from reduced spending requirements related to R&D
projects in process during this period. The Company expects to continue to make
significant investments in new product development, and expects fourth quarter
fiscal 1999 R&D expenses to approximate current quarter levels, based upon the
projected needs of current and anticipated development projects.

The Company generated net interest income during the quarter of $18,000 as
compared to $23,000 for the same period one year ago. The decrease resulted from
lower levels of interest bearing cash equivalents and short-term investments in
the current year.

Net loss for the third quarter of fiscal 1999 was $125,000, or $0.02 per share
as compared to a net loss of $ 773,000 and $0.10 per share for the third quarter
of fiscal 1998.


                                       8
<PAGE>


RESULTS OF OPERATIONS FOR THE NINE MONTHS ENDED MARCH 27, 1999

Net sales for the first nine months of fiscal 1999 decreased 14.5 % to $10.7
million compared to $12.5 million for the same period the previous year. The
weakness in the semiconductor capital equipment market during the current year
adversely impacted sales, most notably in older products.

Gross margin for the first nine months of fiscal 1999 decreased to 48.3% from
57.7% for the same period the prior year. The decrease is primarily attributed
to changes in product mix, shifting from older, higher margin products to
products with lower margins. In addition, unabsorbed overhead costs related to
lower production volumes further decreased gross margins in the current year.

Selling, general and administrative expense decreased by $1.3 million, or 22.1%,
to $4.6 million in the first nine months of the current fiscal year, compared to
$5.9 million for the same period in fiscal 1998. The decrease in expenses is the
result of the cost reduction activities initiated by the Company in late fiscal
1998 and early fiscal 1999.

Research and development expense decreased to $2.1 million in fiscal 1999, as
compared to $2.9 million in the previous year. The decrease in spending in the
current year resulted from reduced spending requirements related to R&D projects
in process during this period.

The Company generated net interest income during the current year of $61,000 as
compared to $95,000 for the same period one year ago. The decrease resulted from
lower levels of interest bearing cash equivalents and short-term investments in
the current year.

Net loss for the first nine months of fiscal 1999 was $1.5 million, or $0.21 per
share as compared to a net loss of $1.3 million, and $0.18 per share for the
same period of fiscal 1998.

LIQUIDITY AND CAPITAL RESOURCES

As of March 27, 1999, the Company had cash and cash equivalents of $1.6 million
compared to $2.5 million at June 27, 1998. Cash used in operations was $0.8
million during the current year, versus $3.1 million used in the previous year.
Cash provided by reduced receivables and inventory partially offset the net loss
in the current year. During fiscal 1998, increases in inventory and receivables
to support new product launches combined with the net loss as the primary uses
of cash.

Current assets at March 27, 1999 were $8.5 million, the current ratio was 3.6
and working capital was $6.2 million, versus $10.1 million, 3.7 and $7.4
million, respectively, at June 27, 1998.

The Company maintains a $5 million secured line of credit with a bank, which was
unused at March 27, 1999. Management believes that cash and cash equivalents at
March 27, 1999 and funds available through its bank line of credit will sustain
the Company's continuing operations at their current levels, for the foreseeable
future.


                                       9
<PAGE>


YEAR 2000 COMPLIANCE

Many currently installed computer systems and software products are coded to
accept only two-digit entries in the date code field. When year 2000 begins,
these computers may interpret "00" as the year 1900 and could either stop
processing date related computations or could process them incorrectly.
Beginning in the year 2000, these date code fields will need to accept
four-digit entries to distinguish 21st century dates from 20th century dates to
be year compliant.

The Company completed an initial assessment of its internal information systems
and determined that most of the application software and internal information
systems, other than the Company's primary manufacturing and accounting system:
(1) are year 2000 compliant; (2) can be upgraded to be year 2000 compliant
without significant cost or effort; or (3) do not pose a significant issue to
the Company if left uncorrected. With regard to the Company's primary
manufacturing and accounting system, the Company contracted with the software
vendor and related hardware supplier to bring these systems year 2000 compliant.
The upgrade process was completed in the 2nd quarter of fiscal 1999. Total costs
to upgrade the Company's internal information systems, most of which have been
paid, are not material to the operations of the Company, and are expected to be
less than $100,000.

The Company has completed an assessment of non-IT systems within the Company to
determine if they are year 2000 compliant. Non-year 2000 compliant systems have
been identified and are scheduled to be upgraded or replaced by the end of
fiscal 1999. Although the Company is not aware of any material operational
issues or costs associated with preparing its internal systems for the year
2000, there can be no assurance that the Company will not experience serious
unanticipated negative consequences and/or material costs caused by undetected
errors or defects in the technology used in its internal operating systems,
which are composed predominately of third party software and hardware
technology.

The Company is in the process of determining the impact that third-party
suppliers and vendors that are not year 2000 compliant may have on the
operations of the Company. Non-compliance by any of the Company's major
distributors, suppliers, customers, vendors, or financial organizations could
result in business disruptions that could have a material adverse affect on the
Company's results of operations, liquidity and financial condition. The Company
plans on developing a contingency plan once it has completed its assessment of
significant party compliance. The contingency plan will be developed to minimize
the Company's exposure to work slowdowns or business disruptions and any adverse
affects on the Company's results of operations. The contingency plan should be
completed by the end of fiscal 1999.

The Company is currently in the process of assessing and testing the software
components of its products for year 2000 compliance. The Company does not
believe that its products contain undetected errors or defects associated with
year 2000 date functions that may result in material costs to the Company,
including repair costs and costs incurred in litigation due to any such defects;
however, there can be no assurance that such errors or defects do not exist.
Many commentators have stated that a significant amount of litigation will arise
out of year 2000 compliance issues. Because of the unprecedented nature of such
litigation, there can be no assurance that the Company will not be materially
adversely affected by claims related to year 2000 compliance.


                                       10
<PAGE>


IMPACT OF ACCOUNTING STANDARDS

In June 1997, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards ("SFAS") No. 131, "Disclosures about Segments of
an Enterprise and Related Information" which is required to be adopted for the
fiscal year beginning June 28, 1998. At that time, the Company will be required
to disclose certain financial and descriptive information about its operating
segments as redefined by SFAS No. 131. The Company is in the process of
assessing the impact of SFAS No. 131.

In June 1998, SFAS No. 133, "Accounting for Derivative Instruments and Hedging
Activities" was issued. SFAS 133 establishes a new model for accounting for
derivatives and hedging activities and supersedes and amends a number of
existing accounting standards. SFAS 133 requires that all derivatives be
recognized in the balance sheet at their fair market value, and the
corresponding derivative gains or losses be either reported in the statement of
operations or as a deferred item depending on the type of hedge relationship
that exists with respect to such derivative. Adopting the provisions of SFAS 133
are not expected to have a material effect on the Company's financial
statements. The standard is effective for the Company in fiscal 2000.

RISK FACTORS

Except for the historical information contained herein, certain of the matters
discussed in this report are "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. These "forward-looking
statements" involve certain risks and uncertainties, including, but not limited
to, the following: (1) fluctuations and periodic downturns in the semiconductor
market, as currently being experienced, which often have had a
disproportionately negative effect on manufacturers of semiconductor capital
equipment; (2) rapid changes in technology and in tester and handler products,
which the Company must respond to successfully in order for its products to
avoid becoming noncompetitive or obsolete; (3) customer acceptance of the
Company's new products, including the MCT 5100, MCT 5200, MCT 7632 and Tapestry
handling systems, in which the Company has invested significant amounts of
inventory; (4) possible loss of any of the Company's key customers, who account
for a substantial percentage of the Company's business; (5) the possible adverse
impact of competition in markets which are highly competitive, including
increased pressure on pricing and payment terms which may adversely affect net
sales and gross margins and increase the Company's exposure to credit risk; (6)
the possible adverse impact of economic or political changes in markets the
Company serves, including the uncertain economic situation currently facing
Southeast Asia; (7) the possible adverse impact on the Company's operations or
material costs which may be incurred by the Company due to undetected errors or
defects in preparing its internal operating systems for the year 2000; (8) the
possible adverse impact on the Company's operations or material costs which may
be incurred by the Company arising from year 2000 related repair costs or
litigation due to undetected errors or defects in its products which use
software; and, (9) other factors detailed from time to time in the Company's SEC
reports, including but not limited to the discussion in the Management's
Discussion & Analysis included in the Annual Report on Form 10-K for the year
ended June 27, 1998. All forecasts and projections in this report are
"forward-looking statements," and are based on management's current expectations
of the Company's near-term


                                       11
<PAGE>


results, based on current information available pertaining to the Company,
including risk factors discussed above. Actual results could differ materially.


                                       12
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                                    FORM 10-Q
                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

On February 11, 1999, the Company entered into an agreement with the Securities
and Exchange Commission (the "Commission") resolving the investigation of the
Company by the Commission with respect to certain financial reporting
discrepancies announced by the Company in April 1994 dating back to fiscal 1993
and the first two quarters of fiscal 1994. Without admitting or denying any
wrongdoing, the Company has agreed to an order of the Commission that it will
not in the future violate federal securities law provisions governing, among
other things, the maintenance of books and records and periodic reporting.
There were no fines or other penalties imposed upon the Company.

6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits:  10.R   Second Amendment to Credit and Security Agreement
               (Eximbank Guaranteed Loan), dated February 16, 1999 between
               Norwest Bank Minnesota N.A and Micro Component Technology, Inc.

               10.S   Second Amendment to Credit and Security Agreement, dated
               May 6, 1999 between Wells Fargo Business Credit, Inc. and
               Micro Component Technology, Inc.

               27     Financial Data Schedule

(b) Reports on Form 8-K
    No reports on Form 8-K were filed during the quarter.


                                       13
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                                    FORM 10-Q
                                   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.




                                       Micro Component Technology, Inc.
                                       Registrant


Dated:  May 7, 1999                    By:   /s/Roger E. Gower
                                       --------------------------------------
                                       Roger E. Gower
                                       President and Chief Executive Officer


                                       And


Dated:  May 7, 1999                    By:   /s/ Jeffrey S. Mathiesen
                                       --------------------------------------
                                       Jeffrey S. Mathiesen
                                       Chief Financial Officer
                                       Chief Accounting Officer


                                       14
<PAGE>


                        MICRO COMPONENT TECHNOLOGY, INC.
                                    FORM 10-Q
                                  EXHIBIT INDEX



Exhibit
Number                                                                      Page


10.R   Second Amendment to Credit and Security Agreement (Eximbank
       Guaranteed Loan), dated February 16, 1999 between Norwest Bank
       Minnesota N.A and Micro Component Technology, Inc.                    15

10.S   Second Amendment to Credit and Security Agreement , dated
       May 6, 1999 between Wells Fargo Business Credit, Inc. and Micro
       Component Technology, Inc.                                            19

27     Financial Data Schedule                                               24