SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-QSB

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                For the quarterly period ended December 31, 1997

[ ] 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 0-10696

                                LogiMetrics, Inc.
        (Exact name of small business issuer as specified in its charter)

         Delaware                                                11-2171701
        (State or other jurisdiction of                       (I.R.S. Employer
         incorporation or organization)                     Identification No.)

                    50 Orville Drive, Bohemia, New York 11716
                    (Address of principal executive offices)

                    Issuer's telephone number: (516) 784-4110

(Former name, former address and former fiscal year, if changed since last 
 report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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 [ ]                             No [X]

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:

     Common Stock,  par value             Outstanding at March 24, 1998:
       $.01 per share                        25,892,414 shares

           Transitional Small Business Disclosure Format (check one):

            Yes [ ]                               No [X]



<PAGE>


                                LOGIMETRICS, INC.

                                      INDEX



                                                                         PAGE


Part I - FINANCIAL INFORMATION


Item 1.  Consolidated Financial Statements (Unaudited)

    Balance Sheet - December 31, 1997...................................  3

    Statements of Operations -
    Six months ended December 31, 1997 and 1996 ........................  4

    Statements of Operations -
    Three months ended December 31, 1997 and 1996.......................  5

    Statements of Cash Flows -
    Six months ended December 31, 1997 and 1996.........................  6

    Notes to Consolidated Financial Statements...........................7-9

Item 2.  Management's Discussion and Analysis or Plan of Operation..... 10-14

PART II - OTHER INFORMATION

Item 3.  Defaults Upon Senior Securities................................  15

Item 6.  Exhibits and Reports on Form 8-K...............................  15

SIGNATURES..............................................................  16


<PAGE>

                               LOGIMETRICS, INC.
                           CONSOLIDATED BALANCE SHEET
                               December 31, 1997
                                  (Unaudited)

ASSETS
CURRENT ASSETS:
     Cash                                               $   2,829,069
     Accounts receivable, less allowance
       for doubtful accounts of $505,875                    1,618,335
     Inventories (Note 2)                                   3,235,315
     Prepaid expenses and other current
       assets                                                  48,207
                                                            ---------
          Total current assets                              7,730,926

     Equipment and fixtures (net)                             616,858
     Deferred financing costs                                 128,156
     Other assets                                              37,012
                                                          -----------

TOTAL ASSETS                                            $   8,512,952
                                                          ===========

LIABILITIES AND STOCKHOLDERS' DEFICIENCY
CURRENT LIABILITIES:
     Accounts payable and other accrued expenses        $   3,613,321
     Advance payments                                         900,815
     Income taxes payable                                     491,278
     Current portion of long-term debt (Note 3)             2,548,291
                                                           ----------
          Total current liabilities                         7,553,705

     Long-term debt (Note 3)                                4,445,863
                                                           ----------
TOTAL LIABILITIES                                       $  11,999,568
                                                         ------------

COMMITMENTS
STOCKHOLDERS' DEFICIENCY (Note 3 and 4)
     Preferred Stock:
          Series A, stated value $50,000 per share;
          authorized, 200 shares; issued and
          outstanding, 28 shares                              924,526
     Common Stock:
          Par value $.01; authorized,
          100,000,000 shares; issued and
          outstanding, 25,648,984 shares                      256,490
     Additional paid-in capital                             4,306,468
     Deficit                                               (8,109,650)
     Stock subscriptions receivable (Note 4)                 (864,450)
                                                           -----------

TOTAL STOCKHOLDERS' DEFICIENCY                            $(3,486,616
                                                           ----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY            $ 8,512,952
                                                           ==========

                 See Notes to Consolidated Financial Statements


<PAGE>

                               LOGIMETRICS, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

                                   Six Months Ended December 31,

                                          1997                      1996
                                                              Restated (Note 1)

Net revenues (Note 5)             $     5,312,344             $    4,591,332
Costs and expenses:
     Cost of revenues                   2,844,438                  4,044,004
     Selling, general and
       administrative expenses          2,294,488                  1,704,384
     Research and development             228,780                    396,986
                                      -----------               ------------

Loss from operations                      (55,362)               (1,554,042)

Interest expense                          477,570                   361,073
                                      -----------               ------------

Loss before income taxes                 (532,932)               (1,915,115)

Provision for income taxes                 74,714                    27,091
                                      -----------               -----------

Net loss                                 (607,646)               (1,942,206)

Preferred stock dividends                 100,553                   110,422
                                      -----------               -----------
Net loss attributable
  to common stockholders             $  (708,199)              $ (2,052,628)
                                      ===========               ============

Loss per common share (Note 6)       $     (0.03)              $      (0.09)

Weighted average number of 
  common shares outstanding            25,112,026                22,208,394
                                       ==========                ==========


                 See Notes to Consolidated Financial Statements


<PAGE>

                               LOGIMETRICS, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

                                             Three Months Ended December 31,

                                         1997                     1996
                                                            Restated (Note 1)

Net revenues (Note 5)                $  4,300,646             $  1,774,180
Costs and expenses:
     Cost of revenues                   1,708,290                1,942,249
     Selling, general and
       administrative expenses          1,476,268                  798,201
     Research and development             109,321                  235,646
                                        ---------                ---------
Income (loss) from operations           1,006,767               (1,201,916)

Interest expense                          239,610                  182,446
                                        ---------                ---------
Income (loss) before income taxes         767,157               (1,384,362)

Provision (benefit) for
  income taxes                            302,169                  (41,780)
                                        ---------                ----------
Net income (loss)                         464,988               (1,342,582)

Preferred stock dividends                  59,989                   55,961
                                        ---------                ----------
Net income (loss) attributable
  to common stockholders               $  404,999            $  (1,398,543)
                                        =========             =============
Earnings (loss) per common
  share:  (Note 6)
     Basic                             $     0.02            $       (0.06)
     Diluted                           $     0.01            $       (0.06)
                                        =========             =============
Weighted average number of 
   common shares outstanding:
     Basic                             25,617,708               22,214,034
     Diluted                           36,922,868               22,214,034
                                       ==========               ==========

                 See Notes to Consolidated Financial Statements


<PAGE>

                                LOGIMETRICS, INC.
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)


                                                  Six Months Ended December 31,
                         
                                                   1997                 1996
                                                               (Restated Note 1)

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                        $ (607,646)      $   (1,942,206)
                                                  ---------          -----------

Adjustments to reconcile net loss to net
cash (used for) provided by operating activities:
     Depreciation and amortization                 259,152              221,182
     Allowance for doubtful accounts               355,875                 -
     Accrued interest expense paid by
       issuance of debentures                      240,394                 -
     Increase (decrease) in cash from:
       Accounts receivable                         189,555            1,345,976
       Costs and estimated earnings
          in excess of billings on
          uncompleted contracts                    785,013              (33,859)
       Inventories                                 113,721             (189,922)
       Prepaid expenses and other
          current assets                            41,305              111,468
       Accounts payable and accrued expenses    (1,701,827)             791,041
       Other assets/liabilities                     76,145                3,489
                                                 ---------            ---------

          Total adjustments                        359,733            2,249,375
                                                 ---------            ---------

Net cash (used for) provided by 
   operating activities                           (247,913)             307,169
                                                 ----------            ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Purchases of equipment and fixtures           (75,654)             (99,677)
                                                 ----------            ---------

     Net cash used for investing activities        (75,654)             (99,677)
                                                 ----------            ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
     Proceeds from debt issuance - net           2,750,000                 -
     Proceeds from warrant issuance                567,500                  943
     Proceeds from sale of stock                    12,500                  -
     Repayment of loan from stockholder - net     (182,755)            (185,282)
     Proceeds from exercise of warrants             15,188                     -
     Stock subscriptions received                    8,500                1,250
     Repayment of debt - net                      (386,624)             (38,512)
                                                 ----------            ---------

     Net cash (used for) provided by financing
       activities                                2,784,309             (221,601)
                                                 ---------             ---------

NET INCREASE (DECREASE) IN CASH                  2,460,742              (14,109)

CASH AND CASH EQUIVALENTS, beginning
  of period                                        368,327              269,248
                                                 ---------              -------

CASH AND CASH EQUIVALENTS, end of period      $  2,829,069           $  255,139
                                                 =========              =======

                 See Notes to Consolidated Financial Statements


<PAGE>

                               LLOGIMETRICS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.       Financial Statements

The  accompanying  consolidated  financial  statements  include the  accounts of
LogiMetrics,  Inc.  ("LogiMetrics") and its wholly owned  subsidiaries,  mmTech,
Inc.  ("mmTech") and LogiMetrics FSC, Inc.  (collectively,  the "Company").  All
intercompany  balances and transactions  have been eliminated.  The consolidated
financial  statements  have  been  prepared  to give  retroactive  effect to the
business  combination with mmTech which occurred on April 25, 1997 and which has
been accounted for as a pooling of interests.

The Company's financial  statements have been prepared assuming that the Company
will  continue  as a going  concern.  The  independent  auditors'  report on the
Company's financial  statements for the fiscal year ended June 30, 1997 included
an emphasis  paragraph  concerning the Company's  ability to continue as a going
concern.  The consolidated  financial  statements do not include any adjustments
that might result from the outcome of this uncertainty.

The balance sheet as of December 31, 1997,  the statements of operations for the
six-month  and  three-month  periods ended  December 31, 1997 and 1996,  and the
statements of cash flows for the six-month  periods ended  December 31, 1997 and
1996, are unaudited.  Such unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial reporting and with the instructions to Form 10-QSB. Accordingly,  they
do not include all of the  information  and  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.  Results for
the six and three months ended December 31, 1997 are not necessarily  indicative
of the results  that may be  achieved  for any other  interim  period or for the
fiscal year ending June 30, 1998. These statements should be read in conjunction
with the financial statements and related notes included in the Company's Annual
Report on Form 10-KSB for the year ended June 30, 1997.

2.  Inventories

Inventory consists of the following at December 31, 1997:

Raw material and components                 $  1,367,555
Work-in-progress                               1,867,760
                                               ---------
                                            $  3,235,315
                                             ===========

<PAGE>

                               LOGIMETRICS, INC.

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
                                  (Unaudited)


3.  Long-Term Debt

Long-term debt consists of the following at December 31, 1997:

Notes payable to Bank                                    $   2,008,810
Class A Debentures                                           2,906,436
Class B Debentures                                           1,583,958
  Less:  Discount at issuance                                 (457,628)
  Plus:  Amortization of discount                              300,321
Notes payable - stockholder                                    440,332
Notes payable - other                                           45,000
Capital lease obligations                                      166,925
                                                             ---------
Sub-total                                                    6,994,154
  Less: current portion                                      2,548,291
                                                             ---------
Total long term debt                                     $   4,445,863
                                                             =========

Principal payments due on all long-term debt consist of the following:

Fiscal year ending June 30, 1998                         $   2,319,827
Fiscal year ending June 30, 1999                               255,235
Fiscal year ending June 30, 2000                             4,407,554
Thereafter                                                      11,538
                                                             ---------
                                                         $   6,994,154
                                                             =========

4.  Stockholders' Deficiency

Stock subscriptions receivable consists of the following at December 31, 1997:

     Notes from former officers                          $     154,450
     Notes from two employees                                  675,000
     Note from a director                                       35,000
                                                               -------
                                                         $     864,450
                                                               =======

5.  Revenue Recognition

In December  1997,  CellularVision  of New York,  L.P.  ("CVNY")  entered into a
letter agreement with the Company pursuant to which CVNY agreed to pay on behalf
of CellularVision  Technology & Telecommunications  L.P. ("CT&T")  approximately
$3.0  million  of the  amounts  owed by CT&T . Under  the  terms  of the  letter
agreement,  CVNY paid  $350,000 to the Company,  and  delivered to the Company a
secured  promissory note in the principal amount of  approximately  $2.6 million
(the "CVNY Note"). The debt assumed by CVNY related to equipment,  substantially
all of which had been ordered by CT&T and CVNY in prior  periods,  and which was
being held at the Company's  premises at CVNY's request.  In addition,  CVNY has
assumed ownership rights and risk of loss. CVNY has committed to accept delivery
of all such  equipment by June 30, 1998. As of December 28, 1997,  CVNY had paid
$49,500  pursuant to the CVNY Note.  On December 31, 1997,  the Company sold the
CVNY Note  without  recourse for  approximately  $2.4  million.  The Company has
recorded  approximately $3 million of sales during the second quarter related to
these transactions.


<PAGE>

                               LOGIMETRICS, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
                                  (Unaudited)

6.       Income (Loss) Per Share

In February 1997, the Financial  Accounting  Standards Board issued Statement of
Financial  Accounting Standards ("SFAS") No. 128, "Earnings per Share". SFAS No.
128 specifies the  computation,  presentation  and disclosure  requirements  for
earnings  per share  ("EPS") and became  effective  for both  interim and annual
periods ending after  December 15, 1997. In accordance  with SFAS No. 128, basic
earnings per common share are computed based on the  weighted-average  number of
common shares  outstanding  during each period.  The loss per share calculations
for the six month periods ended December 31, 1997 and December 31, 1996, and the
three-month  period ended  December 31, 1996, do not give effect to common stock
equivalents because they would have an antidilutive  effect. The following table
provides a  reconciliation  between basic and diluted earnings per share for the
three-month period ended December 31, 1997.

                                           Three-months ended December 31, 1997

Basic EPS                                    Income      Shares       Per Share

Income available to common stockholders   $ 404,999    25,617,708         0.02

Effect of Dilutive Securities      

Options/Warrants                          $    -       11,305,160     $  (0.01)

Diluted EPS

Income available to common stockholders
plus assumed exercises                    $ 404,999    36,922,868     $   0.01


The  Company's  (i) Series A 12%  Cumulative  Convertible  Redeemable  Preferred
Stock,  stated  value  $50,000 per share;  (ii) Class A 13% Senior  Subordinated
Convertible  Pay-in-Kind  Debentures  due July 29, 1999;  and (iii)  Amended and
Restated Class B 13% Senior Subordinated  Convertible Pay-in-Kind Debentures due
July 29, 1999 are not included in the above table,  as their  inclusion would be
antidilutive.


<PAGE>


LOGIMETRICS, INC.

Item 2.      MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Results of Operations

Three Months Ended December 31, 1997 Compared to Three Months Ended December 31,
1996

Net  revenues  for the three  months  ended  December  31, 1997  increased  $2.5
million, or 142%, to $4.3 million from $1.8 million for the comparable period of
1996. The increase in revenues resulted from increased sales of Local Multipoint
Distribution  Service  ("LMDS")  equipment.  As  described  in  Note  5  to  the
accompanying  consolidated  financial  statements,   during  the  quarter  ended
December 31, 1997, the Company recognized approximately $3.0 million in revenues
from the sale of LMDS equipment to CT&T and certain of its affiliates.  Sales of
LMDS equipment to CT&T are expected to be substantially  lower for the remainder
of fiscal 1998.

Cost of  revenues  for the  three  months  ended  December  31,  1997  decreased
$234,000, or 12%, to $1.7 million from $1.9 million for the comparable period of
1996. As a percentage of net revenues,  cost of revenues was 40% for the quarter
ended  December 31, 1997,  compared to 109% for the quarter  ended  December 31,
1996. The decline in cost of revenues primarily resulted from certain production
inefficiencies  during the 1996  period,  as well as the  completion  of several
large   projects   during  the  quarter  ended   December  31,  1996  which  had
significantly higher associated costs.

SG&A expenses for the three months ended December 31, 1997  increased  $678,000,
or 85%,  to $1.5  million,  from  $798,000  for the  comparable  period of 1996,
primarily as a result of increased  commission  expense  relating to the sale of
certain LMDS  equipment and the  recording of a $356,000  allowance for doubtful
accounts relating to amounts owed to the Company by CT&T. As a percentage of net
revenues, SG&A expenses decreased to 34% for the quarter ended December 31, 1997
from 45% for the  comparable  period of 1996,  primarily as a result of a higher
revenue base.

Research and  development  expenses for the three months ended December 31, 1997
decreased $126,000,  or 54%, to $109,000 from $236,000 for the comparable period
of 1996, as a result of the Company's  efforts to streamline  its operations and
deploy its resources more efficiently.

For the reasons  discussed above, the Company recorded  operating income for the
three months ended December 31, 1997 of $1.0 million  compared to a $1.2 million
operating loss for the comparable period in 1996.

Interest expense for the three months ended December 31, 1997 increased $57,000,
or 31%, to $240,000 from $183,000 for the comparable  period of 1996,  primarily
as a result of a higher level of average outstanding indebtedness.
 
During the  quarter  ended  December  31,  1997,  the  Company had an income tax
expense  of  $302,000,  compared  to an income tax  benefit  of $42,000  for the
quarter ended December 31, 1996. The Company and mmTech  currently file separate
federal and state tax  returns.  The tax expense  recorded in the quarter  ended
December 31, 1997 relates to pre-tax income generated by mmTech in that period.

During the  quarters  ended  December  31, 1997 and 1996,  the  Company  accrued
dividends  on  its  outstanding   preferred  stock  of  $60,000,   and  $56,000,
respectively.
 
For the reasons discussed above, the Company recorded net income attributable to
common stockholders of $405,000 for the quarter ended December 31, 1997 compared
to a net loss  attributable  to  common  stockholders  of $1.4  million  for the
comparable period in 1996.


<PAGE>


                               LOGIMETRICS, INC.

Six Months  Ended  December 31, 1997  Compared to Six Months Ended  December 31,
1996

Net revenues for the six months ended December 31, 1997 increased  $721,000,  or
16%, to $5.3 million from $4.6 million for the  comparable  period of 1996.  The
increase  in  revenues  for the six months  ended  December  31,  1997  resulted
primarily from increased sales of LMDS equipment.  As described in Note 5 to the
accompanying  consolidated  financial  statements,   during  the  quarter  ended
December 31, 1997, the Company recognized approximately $3.0 million in revenues
from the sale of LMDS  equipment  to CT&T and  certain  of its  affiliates.  The
increase in LMDS sales was offset in part by a decline in sales of the Company's
other  products,  primarily as a result of delays in shipment of certain orders,
which had the effect of delaying the recognition of revenues into later periods.
Sales of LMDS equipment to CT&T are expected to be  substantially  lower for the
remainder of fiscal 1998.

Cost of revenues  for the six months  ended  December  31, 1997  decreased  $1.2
million,  or 30%, to $2.8 million from $4.0 million for the comparable period of
1996.  As a  percentage  of net  revenues,  cost of revenues was 54% for the six
months  ended  December  31,  1997,  compared  to 88% for the six  months  ended
December  31,  1996.  The decline in cost of revenues  primarily  resulted  from
certain  production  inefficiencies  during  the  1996  period,  as  well as the
completion of several large  projects  during the six months ended  December 31,
1996 which had significantly higher associated costs.

SG&A expenses for the six months ended December 31, 1997 increased $590,000,  or
35%,  to $2.3  million  from $1.7  million  for the  comparable  period of 1996,
primarily as a result of increased  commission  expense  relating to the sale of
certain LMDS  equipment and the  recording of a $356,000  allowance for doubtful
accounts relating to amounts owed to the Company by CT&T. As a percentage of net
revenues,  SG&A  expenses  increased  to 43% of net  revenues for the six months
ended December 31, 1997 from 37% for the comparable  period of 1996 primarily as
a result of the reasons stated above.

Research and  development  expenses  for the six months ended  December 31, 1997
decreased $168,000,  or 42%, to $229,000 from $397,000 for the comparable period
of 1996 as a result of the Company's  efforts to streamline  its  operations and
deploy its resources more efficiently.

For the reasons  discussed  above,  the Company  recorded an  operating  loss of
$55,000 for the six months ended  December  31,  1997,  compared to an operating
loss of $1.6 million for the comparable period in 1996.

Interest expense for the six months ended December 31, 1997 increased  $117,000,
or 32%, to $478,000 from $361,000 for the comparable  period of 1996,  primarily
as a result of a higher level of average outstanding indebtedness.
 
During the six months ended  December  31,  1997,  the Company had an income tax
expense of  $75,000,  compared  to an income tax  expense of $27,000 for the six
months ended December 31, 1996.  The Company and mmTech  currently file separate
federal and state tax returns.  The tax expense recorded in the six months ended
December 31, 1997 relates to pre-tax income generated by mmTech in that period.

During the six months  ended  December  31, 1997 and 1996,  the Company  accrued
dividends  on  its  outstanding  preferred  stock  of  $101,000,  and  $110,000,
respectively.

For the reasons discussed above, the Company recorded a net loss attributable to
common  stockholders  for the six months  ended  December  31, 1997 of $708,000,
compared to a net loss  attributable to common  stockholders of $2.1 million for
the comparable period in 1996.


<PAGE>

                               LOGIMETRICS, INC.

Liquidity and Capital Resources

At December 31, 1997, the Company had cash and cash equivalents of $2.8 million.
At such date,  the Company had total  current  assets of $7.7  million and total
current liabilities of $7.6 million.

Net cash used for  operating  activities  was  $248,000 for the six months ended
December 31, 1997,  compared to net cash  provided by  operating  activities  of
$307,000  for the  comparable  period  in  1996.  Net cash  used  for  operating
activities during the six months ended December 31, 1997 resulted primarily from
a net loss of $608,000 and the  repayment  of $1.7 million in accounts  payable,
offset in part by a $785,000 decrease in costs and estimated  earnings in excess
of billings or  uncompleted  contracts,  as well as decreases  in inventory  and
accounts  receivable.  Net cash provided by operating  activities during the six
months ended December 31, 1996 resulted  primarily from a $1.3 million  decrease
in accounts  receivable and a $791,000 increase in accounts  payable,  offset in
part by a net loss of $1.9 million.
 
Net cash used for  investing  activities  was $76,000  for the six months  ended
December 31, 1997, and $100,000 for the comparable period in 1996. Net cash used
for investing  activities in each period resulted from the purchase of equipment
to support the Company's operations.

Net cash  provided by financing  activities  was $2.8 million for the six months
ended  December  31,  1997,  while net cash used for  financing  activities  was
$222,000  for the six months  ended  December  31,  1996.  Net cash  provided by
financing activities during the 1997 period resulted primarily from the proceeds
of certain  debt and warrant  issuances  by the  Company,  offset in part by the
repayment of certain outstanding  indebtedness as well as the repayment of loans
from a stockholder of the Company. Net cash used for financing activities during
the 1996 period  resulted  primarily  from the repayment of certain  outstanding
indebtedness.

Since January 1, 1996,  the Company has raised  approximately  $6.1 million from
private  sales  of  convertible  debentures,  convertible  preferred  stock  and
warrants  to fund a  portion  of its cash flow  needs.  To the  extent  that the
Company  is  unable  to meet its  working  capital  requirements  by  generating
positive cash flow from  operations,  the Company  intends to continue to fund a
portion of its working capital  requirements through the sale of its securities.
There  can be no  assurance  that  the  Company  can  continue  to  finance  its
operations  through the sale of  securities or as to the terms of any such sales
that may occur in the future.  If the  Company is unable to generate  sufficient
cash flows from  operations  or other  sources,  the  Company may not be able to
achieve  its growth  objectives,  may have to  curtail  further  its  marketing,
development or operations, and may be unable to continue as a going concern.

The  Company is a party to a Restated  and Amended  Term Loan Note,  dated as of
April 25, 1997, and a Sixth Restated and Amended Revolving Credit Note, dated as
of April 25,  1997,  pursuant to which North Fork Bank (the "Bank") has provided
the Company with a $640,000 term loan (the "Term Loan") which  matures  December
31, 1998 and a revolving  credit facility (the  "Revolver")  which matures April
30,  1998,  pursuant to which the Company is entitled to draw up to $2.2 million
assuming  sufficient  eligible inventory and accounts  receivable (the Term Loan
and the  Revolver  are  referred  to  herein  collectively  as the  "Facility").
Outstanding amounts under the Facility bear interest at the rate of 2% per annum
in excess of the Bank's prime rate. At December 31, 1997,  the Bank's prime rate
was 8.5%.  As of February 16,  1998,  the Company was in violation of a covenant
contained in the Facility requiring the Company to deliver to the Bank financial
statements  for the fiscal  quarter  ended  December  31,  1997 (the  "Reporting
Requirement  Covenant").  The Bank has waived the Reporting Requirement Covenant
default until April 30, 1998.

In addition  to the  Facility,  at December  31, 1997 the Company had issued and
outstanding  $2.8  million  of its Class A 13% Senior  Subordinated  Convertible
Pay-in-Kind  Debentures  due July 29,  1999  (the  "Class A  Debentures"),  $1.5
million of its Amended and Restated Class B 13% Senior Subordinated  Convertible
Pay-in-Kind  Debentures due July 29, 1999 (the "Class B Debentures") and $45,000
of its Senior  Subordinated  Notes (together with the Class A Debentures and the
Class B Debentures, the "Senior 
<PAGE>

                               LOGIMETRICS, INC.

Subordinated  Indebtedness"),  which contain  financial  covenants  identical to
those  contained in the  Facility.  Accordingly,  as of February  16, 1998,  the
Company was in default of the Reporting  Requirement Covenant to the same extent
as under the Facility. The holders of the Senior Subordinated  Indebtedness have
waived the Reporting Requirement Covenant default until April 30, 1998. Pursuant
to the terms of the Class A Debentures  and the Class B Debentures,  the Company
is required to file a registration  statement covering,  among other things, the
resale of the shares of Common Stock issuable upon the conversion of the Class A
Debentures  and the Class B  Debentures  on or prior to October  27, 1997 and to
have  the  registration  statement  declared  effective  by the  Securities  and
Exchange Commission (the "SEC") on or prior to January 25, 1998. The Company has
not yet filed the registration  statement.  Unless the Company complies with its
registration  obligations,  the interest rate on the Class A Debentures  and the
Class B Debentures will increase  (subject to a maximum interest rate of 17% per
annum).  The holders of the Class A Debentures  and the Class B Debentures  have
the right to declare all amounts  thereunder due and payable if the registration
statement  is not  declared  effective by the SEC on or prior to April 25, 1998.
The holders of the Class A  Debentures  and the Class B  Debentures  have waived
until April 30, 1998 any default arising as a result of the Company's failure to
file the required  registration  statement,  and have waived until June 30, 1998
any default  arising as a result of the  Company's  failure to have the required
registration statement declared effective by the SEC.

At  December  12,  1997,  CT&T was  indebted  to the  Company  in the  amount of
approximately  $3.4 million,  representing  amounts due and owing as a result of
equipment  purchased by CT&T and certain of its  affiliates.  In December  1997,
CVNY,  an affiliate of CT&T,  entered into a letter  agreement  with the Company
pursuant  to which  CVNY  agreed  to pay on behalf  of CT&T  approximately  $3.0
million of the amounts  owed by CT&T.  Under the terms of the letter  agreement,
CVNY paid $350,000 to the Company, and delivered to the Company the CVNY Note in
the principal amount of approximately $2.6 million.  In December 1997, CVNY paid
the  Company  $50,000  pursuant to the terms of the CVNY Note.  On December  31,
1997,  the Company sold the CVNY Note without  recourse for  approximately  $2.4
million.  There can be no assurance that the Company will receive payment of the
remaining  amounts  owed to it by CT&T or as to the timing of any such  payments
that are ultimately made.

The Company and mmTech  currently  file  separate  federal and state  income tax
returns.  As of June 30, 1997, the Company had an  approximate  $6.1 million net
operating loss carry forward available to be used to offset future income.

Disclosure Regarding Forward Looking Statements

Certain  information  contained  in this Form  10-QSB  contains  forward-looking
statements  within the meaning of Section 27A of the  Securities Act of 1933, as
amended,  and Section 21E of the  Securities  Exchange Act of 1934,  as amended.
Although  the  Company  believes  that  the   expectations   reflected  in  such
forward-looking statements are based on reasonable assumptions,  there can be no
assurance that its  expectations  will be realized.  Forward-looking  statements
involve known and unknown risks that may cause the Company's  actual results for
future  periods to differ  materially  from  management's  expectations.  Future
events and actual results, financial and otherwise, could differ materially from
those set forth in or contemplated by the forward-looking  statements  contained
herein. Factors that could cause results to differ materially from the Company's
expectations  include,  but are not limited to, the following:  general economic
and political conditions, as well as conditions in the markets for the Company's
products;  the  Company's  history of losses,  cash  constraints  and ability to
continue as a going concern;  the recent shift in the Company's  business focus;
the  Company's  dependence  on and the  effects of  government  regulation;  the
Company's  dependence on the LMDS market and uncertainties  relating to the size
and timing of any such market that ultimately develops; the Company's dependence
on large  orders  and the  effects of  customer  concentrations;  the  Company's
relationship with CT&T and the resulting limitations on the Company's ability to
sell certain of its products to third parties;  the Company's  dependence on the
sale of securities to meet its working capital needs;  the Company's  dependence
on future product development and market

<PAGE>

                               LOGIMETRICS, INC.

acceptance  of the  Company's  products,  particularly  in the LMDS market;  the
Company's limited  proprietary  technology;  possible  fluctuations in quarterly
results;  the effects of competition;  risks related to  international  business
operations;  the Company's dependence on independent sales representatives;  and
the Company's dependence on a limited number of suppliers.  Other factors may be
described  from time to time in the  Company,s  other filings with the SEC, news
releases and other communications.

Year 2000 Issue

The year 2000 issue is the result of computer  programs  being written using two
digits rather than four to define the applicable year. Certain computer programs
may recognize a date using "00" as the year 1900 rather than the year 2000. This
could  result in a system  failure or  miscalculations  causing  disruptions  of
operations,  including,  among other  things,  a temporary  inability to process
transactions, send invoices or engage in similar normal business activity.

Based on a recent internal assessment,  the Company has determined that the cost
to modify its existing  software  and/or to convert to new software  will not be
significant.  However,  if customers,  suppliers or others with whom the Company
does business experience problems relating to the year 2000 issue, the Company's
business,  financial  condition  or results  of  operation  could be  materially
adversely affected.



<PAGE>

                           PART II - OTHER INFORMATION

Item 3.  Defaults Upon Senior Securities

For a description of certain defaults under the Company's debt  securities,  see
Item 2.  Management's  Discussion  and Analysis or Plan of Operation - Liquidity
and Capital Resources.

Item 6.  Exhibits and Reports on Form 8-K

(a)   Exhibits:

Number Description

3.1  Certificate of  Incorporation  of  LogiMetrics,  Inc. (the  "Company"),  as
     amended  (previously filed as Exhibit 3.1 to the Company's Annual Report on
     Form 10-KSB for the fiscal year ended June 30, 1997 (file no.  0-10696) and
     incorporated herein by reference).

3.2  By-laws, as amended, of the Company (previously filed as Exhibit 3.2 to the
     Company's  Annual  Report on Form 10-KSB for the fiscal year ended June 30,
     1997 (file no. 0-10696) and incorporated herein by reference).

4.1  Form  of  the  Company's  Class  A  13%  Senior  Subordinated   Convertible
     Pay-in-Kind  Debentures due July 29, 1999 (previously  filed as Exhibit 4.1
     to the  Company's  Annual  Report on Form  10-KSB for the fiscal year ended
     June 30, 1997 (file no. 0-10696) and incorporated herein by reference).

4.2  Form of the Company's Amended and Restated Class B 13% Senior  Subordinated
     Convertible  Pay-in-Kind Debentures due July 29, 19999 (previously filed as
     Exhibit 4.2 to the  Company's  Annual  Report on Form 10-KSB for the fiscal
     year ended June 30,  1997 (file no.  0-10696)  and  incorporated  herein by
     reference).

27   Financial Data Schedule.

(b)  Reports on Form 8-K:

Not applicable.

<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                                        LOGIMETRICS, INC.

Dated: April 14, 1998                   By: /s/ Erik S. Kruger
                                        ______________________________
                                        Erik S. Kruger
                                        Vice President
                                        Finance and Administration and
                                        Principal Accounting Officer