Table        of contents

----

**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D. C. 20549**

**Form      10-Q**

**0-13763**

**TECHNOLOGY RESEARCH CORPORATION**

| **FLORIDA**                                                                                    | **59-2095002**                                                       |
|------------------------------------------------------------------------------------------------|----------------------------------------------------------------------|
| *(State                or other jurisdiction of incorporation or                organization)* | *(I.R.S.                employer identification                no.)* |

**5250-140th      Avenue      North Clearwater, Florida 33760**

**(727)      535-0572**

|  Large                accelerated filer o |  Accelerated                filer o |  Non-accelerated                filer þ |
|-----------------------------------------------------|-----------------------------------------------|--------------------------------------------------------|

----

**TECHNOLOGY            RESEARCH CORPORATION**

**FORM 10-Q**

**TABLE      OF CONTENTS**

| PART              I — FINANCIAL INFORMATION                                                                                                                                |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                             |
|                                                                                                                                                                             | Item              1.  Financial Statements |
|                                                                                                                                                                             |    Condensed              Consolidated Balance Sheets |
|                                                                                                                                                                             |    Condensed              Consolidated Statements of              Operations |
|                                                                                                                                                                             |    Condensed              Consolidated Statements of Cash              Flows |
|                                                                                                                                                                             |    Notes              to the Condensed Consolidated Financial              Statements |
|                                                                                                                                                                             | Item              2.  Management’s Discussion and Analysis of              Financial Condition and Results of Operations |
|                                                                                                                                                                             | Item              3.  Quantitative and Qualitative Disclosures              About Market Risk  |
|                                                                                                                                                                             | Item              4.  Controls and              Procedures |
|                                                                                                                                                                             |
| PART              II — OTHER INFORMATION                                                                                                                                   |
|                                                                                                                                                                             |
|                                                                                                                                                                             | Item              1.  Legal Proceedings |
|                                                                                                                                                                             | Item              1A.  Risk Factors  |
|                                                                                                                                                                             | Item              2.  Unregistered Sales of Equity Securities and              Use of Proceeds |
|                                                                                                                                                                             | Item              3.  Defaults Upon Senior              Securities |
|                                                                                                                                                                             | Item              4.  Submission of Matters to a Vote of Security              Holders |
|                                                                                                                                                                             | Item              5.  Other Information |
|                                                                                                                                                                             | Item              6.  Exhibits |
|                                                                                                                                                                             |   |
| SIGNATURES                                                                                                                                                                  |
|                                                                                                                                                                             |
| Exhibit              31.1 — Certification of Chief              Executive Officer pursuant to section 302 of the Sarbanes-Oxley Act              of              2002 |
|                                                                                                                                                                             |
| Exhibit              31.2 — Certification of Chief              Financial Officer pursuant to section 302 of the Sarbanes-Oxley Act              of              2002 |
|                                                                                                                                                                             |
| Exhibit              32.1 — Certification of Chief              Executive Officer pursuant to section 906 of the Sarbanes-Oxley Act              of              2002 |
|                                                                                                                                                                             |
| Exhibit              32.2 — Certification of Chief              Financial Officer pursuant to section 906 of the Sarbanes-Oxley Act              of              2002 |
|                                                                                                                                                                             |

----

**P**
**ART        I — FINANCIAL        INFORMATION**

**Item      1.  Financial Statements**

**TECHNOLOGY      RESEARCH CORPORATION AND SUBSIDIARY**

|                                                                                                                                                              |   |   | **June                      30,**   |     |  **March                      31,**   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------|----------|------------------------------------------------------|
|   **ASSETS**                                                                                                                                            |   |   |                                          | **2007** |                                                 |   |   | **2007** |   |
| Current                    assets:                                                                                                                                |   |   |                                          |     |                                                 |   |   |   |   |
|    Cash                    and cash equivalents                                                                                                    |   |   | $                                             | 2,751    |                                                 |   |   | 3,471 |   |
|                       Short-term investments                                                                                                            |   |   |                                          | 3        |                                                 |   |   | 498 |   |
|    Trade                    and other accounts receivable, net of allowance for doubtful                                                           |   |   |
|         accounts                    of $278 at June 30, 2007 and $273 at March 31,                    2007 |   |   |                                          | 6,891    |                                                 |   |   | 6,950 |   |
|    Other                    receivable - current portion                                                                                           |   |   |                                          | 900      |                                                 |   |   | 884 |   |
|    Inventories,                    net                                                                                                             |   |   |                                          | 8,912    |                                                 |   |   | 9,294 |   |
|                       Deferred income taxes                                                                                                             |   |   |                                          | 1,033    |                                                 |   |   | 999 |   |
|    Prepaid                    expenses and other current assets                                                                                    |   |   |                                          | 375      |                                                 |   |   | 351 |   |
|      Total                      current assets                                                                                      |   | 20,865 |                                          |     |                                                 | 22,447 |   |
|                                                                                                                                                              |
| Property,                    plant and equipment, net of accumulated depreciation of                                                                         |   |   |
|    $10,789                    and $10,472                                                                                                          |   |   |                                          | 4,176    |                                                 |   |   | 4,412 |   |
| Other                    receivable less current portion                                                                                                     |   |   |                                          | 850      |                                                 |   |   | 850 |   |
| Intangible                    asset, net of accumulated amortization of $75 and $59,                    respectively                                         |   |   |                                          | 507      |                                                 |   |   | 523 |   |
| Other                    assets                                                                                                                                   |   |   |                                          | 48       |                                                 |   |   | 47 |   |
|     Total                    assets                                                                                                      | $      | 26,446 |                                          |     |                                                 | 28,279 |   |

|   **LIABILITIES                    AND STOCKHOLDERS'                    EQUITY**                   |    |   |    |        |    |   |   |        |    |
|--------------------------------------------------------------------------------------------------------------|---------|--------|---------|-------------|---------|--------|--------|-------------|---------|
| Current                  liabilities:                                                                        |    |   |    |        |    |   |   |        |    |
|    Current                  portion of long-term debt                                    |    |   |  $ | -           |    |   |   | 1,000       |    |
|                     Trade accounts payable                                                         |    |   |    |  2,829 |    |   |   | 3,027       |    |
|                     Accrued expenses                                                               |    |   |    |  1,232 |    |   |   | 1,409       |    |
|                     Accrued dividends                                                              |    |   |    |  133   |    |   |   | 133         |    |
|                     Income taxes payable                                                           |    |   |    | 8           |    |   |   | 846         |    |
|                          Total current liabilities                             |    | 4,202  |    |        |    | 6,415  |   |
| Long-term                  debt, less current portion                                                        |    |   |    |  2,000 |    |   |   |  2,000 |    |
| Deferred                  income taxes                                                                       |    |   |    |  119   |    |   |   | 139         |    |
|                           Total liabilities                                    |    | 6,321  |    |        |    | 8,554  |   |
|                                                                                                         |    |   |    |
| Stockholders'                  equity:                                                                       |    |   |    |
|                     Common stock $0.51 par value; 10,000,000 shares authorized,                    |    |   |    |
|                        5,910,953 shares and 5,910,328 shares issued, and  |    |   |    |
|                        5,888,828 shares and 5,888,828shares outstanding             |    |   |    |  3,014 |    |   |   | 3,014       |    |
|                     Additional paid-in capital                                                     |    |   |    |  9,321 |    |   |   | 9,287       |    |
|    Retained                  earnings                                                         |    |   |    | 7,830       |    |   |   | 7,464       |    |
|    Common                  stock held in treasury, 21,500 shares at cost                      |    |   |    |  (40   | )  |   |   | (40         | )  |
|       Total                    stockholders' equity                       |    | 20,125 |    |        |    | 19,725 |   |
|     Total                    liabilities and stockholders' equity                   |  $ | 26,446 |    |        |    | 28,279 |   |

**The      accompanying notes are an integral part of the condensed      consolidated financial statements.**

----

**TECHNOLOGY        RESEARCH CORPORATION AND        SUBSIDIARY**

*(In        thousands, except share data)*

|                                                                                                                                   |   | **Three                    months ended June 30,** |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------|
|                                                                                                                                   |   |                                               | **2007** |   |   | **2006** |   |
| Revenues:                                                                                                                              |   |                                               |   |   |   |   |   |
|                       Commercial                                                                                             |   | $                                                  | 5,905 |   |   | 7,953 |   |
|    Military                                                                                                             |   |                                               | 3,753 |   |   | 2,662 |   |
|       Total                    revenues                                                                  |   |                                               | 9,658 |   |   | 10,615 |   |
| Cost                    of sales                                                                                             |   |                                               | 6,818 |   |   | 8,186 |   |
|                             Gross profit                                                  |   |                                               | 2,840 |   |   | 2,429 |   |
| Operating                    expenses:                                                                                            |   |                                               |   |   |   |   |   |
|                       Selling and marketing                                                                                  |   |                                               | 736 |   |   | 721 |   |
|                       General and administrative                                                                             |   |                                               | 986 |   |   | 1,158 |   |
|                       Research and development (includes $0 and $17 of                                                       |   |                                               |   |   |   |   |   |
|                          purchased in-process research and development,                    respectively) |   |                                               | 432 |   |   | 486 |   |
|                          Total operating expenses                                                        |   |                                               | 2,154 |   |   | 2,365 |   |
|                              Income from operations                                       |   |                                               | 686 |   |   | 64 |   |
| Other                    income (expense):                                                                                             |   |                                               |   |   |   |   |   |
|                       Interest expense                                                                                       |   |                                               | (55 | ) |   | (44 | )  |
|                       Other income                                                                                           |   |                                               | 54 |   |   |  6 |   |
|                                                                                                                                   |   |                                               | (1 | ) |   | (38 | )  |
| Income                    before income taxes                                                                                     |   |                                               | 685 |   |   | 26 |   |
| Income                    tax expense                                                                                                  |   |                                               | 202 |   |   | 6 |   |
|                       Net income                                                                                        |   | $                                                  | 483 |   |   | 20 |   |
|                                                                                                                                   |   |                                               |   |   |   |   |   |
| Earnings                    per share - basic                                                                                          |   | $                                                  | 0.08 |   |   | 0.00 |   |
|                                                                                                                                   |   |                                               |   |   |   |   |   |
| Earnings                    per share - diluted                                                                                        |   | $                                                  | 0.08 |   |   | 0.00 |   |
|                                                                                                                                   |   |                                               |   |   |   |   |   |
| Shares                    outstanding - basic                                                                                          |   |                                               | 5,888,828 |   |   | 5,873,408 |   |
|                                                                                                                                   |   |                                               |   |   |   |   |   |
| Shares                    outstanding - diluted                                                                                        |   |                                               | 5,910,953 |   |   | 5,927,372 |   |
|                                                                                                                                   |   |                                               |   |   |   |   |   |
| Dividends                    declared per share                                                                                   |   | $                                                  | .020 |   |   | .015 |   |

**The      accompanying notes are an integral part of the condensed consolidated financial      statements.**

----

**TECHNOLOGY        RESEARCH CORPORATION AND        SUBSIDIARY**

*(In        thousands)*

|                                                                                                                                                                                       | **Three Months                    Ended June 30,** |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|
|                                                                                                                                                                                       |                                                              |   |   | **2007** |   |   |   | **2006** |   |
| Cash                    flows from operating activities:                                                                                                                                   |                                                              |   |   |   |   |   |   |   |   |
|    Net                    income                                                                                                                                            |                                                              |   | $ | 483 |   |   |   | 20 |   |
|                       Adjustments to reconcile net income to net cash provided by operating                    activities:          |                                                              |
|    Accretion                    of interest on short-term investments                                                                                                  |                                                              |   |   | (5 | )  |   |   | (3 | )  |
|    Change                    in allowance for doubtful accounts                                                                                                             |                                                              |   |   | 5 |   |   |   | (15 | ) |
|    Note                  receivable as partial settlement of lawsuit                                                                                                        |                                                              |   |   | (17 | )  |   |   | - |   |
|    Depreciation                                                                                                                                                             |                                                              |   |   | 319 |   |   |   | 283 |   |
|    In-process                    research and development                                                                                                                   |                                                              |   |   | - |   |   |   | 17 |   |
|    Amortization                    of intangible assets                                                                                                                     |                                                              |   |   | 16 |   |   |   | 10 |   |
|                       Stock compensation expense                                                                                                                                 |                                                              |   |   | 34 |   |   |   | 23 |   |
|    Deferred                  income taxes                                                                                                                                   |                                                              |   |   | (54 | )  |   |   | (7 | )  |
|    Changes                    in operating assets and liabilities, net of effects of                    acquisition:                |                                                              |   |
|       Trade                    and other accounts receivable, net                                                                                            |                                                              |   |   | 54 |   |   |   | 2,564 |   |
|                          Inventories                                                                                                                              |                                                              |   |   | 382 |   |   |   | 601 |   |
|                          Prepaid expenses and other current assets                                                                                                |                                                              |   |   | (24 | )  |   |   | (110 | ) |
|                          Other assets                                                                                                                             |                                                              |   |   | - |   |   |   | 1 |   |
|       Trade                    accounts payable                                                                                                              |                                                              |   |   | (198 | ) |   |   | (1,612 | )  |
|       Accrued                    expenses                                                                                                                    |                                                              |   |   | (177 | ) |   |   | (229 | )  |
|       Income                    taxes payable                                                                                                                |                                                              |   |   | (838 | )  |   |   | (331 | ) |
|         Net                    cash provided by (used in) operating activities                                                                     |                                                              |   |   | (20 | ) |   |   | 1,212 |   |
| Cash                    flows from investing activities:                                                                                                                                   |                                                              |   |   |   |   |   |   |   |   |
|    Maturities of short-term                    investments                                                                                                        |                                                              |   |   | 500 |   |   |   | 499 |   |
|    Purchase                    of short-term investments                                                                                                                    |                                                              |   |   | - |   |   |   | (244 | ) |
|    Acquisition                    of business                                                                                                                               |                                                              |   |   | - |   |   |   | (331 | ) |
|    Purchases                    of property and equipment                                                                                                              |                                                              |   |   | (83 | )  |   |   | (193 | )  |
|         Net                    cash provided by (used in) investing activities                                                                |                                                              |   |   | 417 |   |   |   | (269 | )  |
| Cash                    flows from financing activities:                                                                                                                              |                                                              |   |   |   |   |   |   |   |   |
|                       Repayments of short-term debt                                                                                                                              |                                                              |   |   | (1,000 | )  |   |   | (1,000 | )  |
|    Proceeds                    from the exercise of stock options                                                                                                           |                                                              |   |   | - |   |   |   | 52 |   |
|    Cash                    dividends paid                                                                                                                                   |                                                              |   |   | (117 | )  |   |   | (87 | )  |
|         Net                    cash used in financing activities                                                                         |                                                              |   |   | (1,117 | )  |   |   | (1,035 | )  |
| Net                    decrease in cash and cash equivalents                                                                                                                          |                                                              |   |   | (720 | )  |   |   | (92 | )  |
| Cash                    and cash equivalents at beginning of period                                                                                                                        |                                                              |   |   | 3,471 |   |   |   | 2,607 |   |
| Cash                    and cash equivalents at end of period                                                                                                                         |                                                              |   | $ | 2,751 |   |   |   | 2,515 |   |
| Non-cash                    investing in financing activities:                                                                                                                        |                                                              |   |   |   |   |   |   |   |   |
|                       Common stock issued upon acquisition of recreational vehicle                    product line                    business                                   |                                                              |   |  $ | - |   |   |   | 347 |   |

**The      accompanying notes are an integral part of the condensed consolidated financial      statements.**

----

****TECHNOLOGY        RESEARCH CORPORATION AND        SUBSIDIARY****

****Notes        to        the Condensed Consolidated Financial        Statements****

**SEC**
**Company**
Form      10-K

*2.  Earnings      Per Share:*

|                                                                            |   | **Three                  months ended June 30,** |   |
|---------------------------------------------------------------------------------|--------|--------------------------------------------------|--------|
|                                                                            |   | **2007**                                         |   | **2006** |   |
| Net                  income                                                     | $      | 483                                              |   | 20 |   |
|                                                                            |   |                                        |   |    |   |
| Weighted                  average shares outstanding - basic                    |   | 5,888,828                                        |   | 5,873,408 |   |
| Dilutive                  common shares issuable upon exercise of stock options |   | 22,125                                           |   | 53,964 |   |
| Weighted                  average shares outstanding - diluted                  |   | 5,910,953                                        |   | 5,927,372 |   |
|                                                                            |   |                                        |   |    |   |
| Earnings                  per common share:                                     |   |                                             |   |   |   |
|                     Basic                                             | $      | 0.08                                             |   | 0.00 |   |
|                     Diluted                                           | $      | 0.08                                             |   | 0.00 |   |

*3.  Short-term Investments: *

*held-to-maturity*

*4.       Inventories:*

| ** **                    | **June                  30, 2007** | ** ** | **March                  31, 2007** |
|-------------------------------|------------------------------------|------------|-------------------------------------|
| Raw                materials  |                               |       | $                                   | 6,485 |   |   |   | 6,102 |   |
| Work-in-process               |                               |       |                                | 361 |   |   |   | 461 |   |
| Finished                goods |                               |       |                                | 2,066 |   |   |   | 2,731 |   |
| Total                         |                               |       | $                                   | 8,912 |   |   |   | 9,294 |   |

*5.        Warranty: *

|                                           | **Three                  months ended June 30,  ** |
|------------------------------------------------|--------------------------------------------------------------|
|                                           |                                                         |   |   | **2007** |   |   |   | **2006** |   |
| Beginning                  balance             |                                                         |   | $ | 90 |   |   |   | 111 |   |
|                     Warranty expense |                                                         |   |   | 84 |   |   |   | 48 |   |
|                     Warranty claims  |                                                         |   |   | (29 | ) |   |   | (29 | ) |
| Ending                  balance                |                                                         |   | $ | 145 |   |   |   | 130 |   |

*6.  Debt: *

**LIBOR**

**FIN                    48**
*Accounting for Uncertainty in Income Taxes—an interpretation                    of FASB Statement No. 109*

*Share-Based Payment*
**SFAS 123R**
*Accounting for Stock issued to Employees*
**APB      25**
*Accounting for      Stock-Based Compensation*
**SFAS 123**
*Accounting for      Stock-Based Compensation-Transition and Disclosure*

*Stock      Option Plans*

**Plans**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                   |   |            |   | **Aggregate(1)**                      |   | **Weighted **              |   | **Weighted**                            |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|--------|-----------------|--------|---------------------------------------|--------|---------------------------------|--------|-----------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **Shares**                             |   |            |   | **intrinsic**                         |   | **average**                     |   | **average**                             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** available**                    |   | **Options**     |   | **value**                             |   | **exercise**                    |   | **remaining**                           |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | ** for                    grant** |   | **outstanding** |   | **(in                    thousands)** |   | **price**                       |   | **contractual                    life** |   |
| Balance as                    of March 31, 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 403,850                                |   | 344,935         |   | $                    107              |   | $                    9.10       |   | 7.44                                    |   |
|                       Options authorized                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | -                                      |   | -               |   |                             |   | -                               |   |                          |   |
|                       Options expired                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | -                                      |   | -               |   |                             |   | -                               |   |                          |   |
|                       Options granted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | -                                      |   | -               |   |              |   | -                               |   |                          |   |
|                       Options canceled                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | -                                      |   | -               |   |                             |   | -                               |   |                          |   |
|                       Options exercised                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | -                                      |   | -               |   |         |   | -                               |   |                                    |   |
| Balance                    as of June 30, 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 403,850                                |   | 344,935         |   | $                     76         |   |  $                    9.10 |   | 7.20                                    |   |
| Exercisable as                    of June 30, 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                   |   | 294,935         |   | $                     76         |   |  $                    9.66 |   | 6.85                                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                   |   |            |   |                                  |   |                            |   |                                    |   |
| Footnote:(1)                     The aggregate intrinsic value represents the total pretax intrinsic                    value,                    based on the Company’s closing stock price of $4.92 as of March 31, 2007                    and of $4.01 as of June 30, 2007 and on the dates options were                    granted or exercised, which would have been received by the                    option holders had all option holders exercised their options as of                    that date, including only those options that are                    in-the-money. |

|                                             |   | **Three                    months ended June 30,** |   |
|--------------------------------------------------|--------|----------------------------------------------------|--------|
|                                             |   | **2007**                                           |   | **2006** |   |
| Expected                    dividend yield  |   |    N/A                              |   |  1.12% |   |
| Risk                    free interest rate  |   |                       N/A                |   |  5.05% |   |
| Expected                    volatility      |   |                       N/A                |   |  88.29% |   |
| Expected                    life            |   |    N/A                              |   |  6.48                    years |   |

**ELE**
*Fire Shield*

*Accounting for Certain Hybrid Financial              Instruments—an amendment of FASB Statements No. 133 and 140*
*Accounting for Derivative              Instruments and Hedging Activities*
*Accounting for              Transfers and Servicing of Financial Assets and Extinguishments of              Liabilities*
*Application of Statement 133 to Beneficial              Interests in Securitized Financial Assets*

*Fair Value                            Measurements*

*Accounting for Uncertainty in Income Taxes—an interpretation of FASB                              Statement No. 109*

*How Taxes Collected from Customers and Remitted to Government              Authorities Should Be Presented in the Income Statement (That Is, Gross              versus              Net Presentation)*

*The Fair Value Option                    for Financial Assets and Liabilities*

****Item        2.  Management’s Discussion and Analysis        of Financial Condition and Results of        Operations.****

**we**
**our**
**us**
**Company**
**TRC**

***DISCLOSURE        REGARDING FORWARD-LOOKING STATEMENTS***

**SEC**
Form          10-K

***OVERVIEW***

          -  to strengthen                  our current markets and channels of distribution with new proprietary                  products; 
          -  to broaden                  the number of applications within target markets by developing                  products for                  these applications; 
          -  to identify                  and pursue strategic acquisitions that will be accretive to                  earnings; 
          -  to improve                  profitability and customer satisfaction through ongoing continuous                  improvement                  programs and benchmarking all aspects of TRC’s business with best                  practices; 
          -  to invest                  in the education of employees to enable then to have the tools                  to more                  effectively grow the business and improve business                  productivity. 

**RESULTS OF        OPERATIONS**

**    R*evenues***

***    Gross        profit***

***    Selling        and        marketing***

***    General        and        administrative***

***    Research        and        development***

***    Other income        (expense)***

***    Income        tax        expense***

***    Net income***

**LIQUIDITY AND          CAPITAL RESOURCES**

**LIBOR**

**OFF-BALANCE        SHEET ARRANGEMENTS**

***NEW          ACCOUNTING STANDARDS***

*Accounting for Certain Hybrid Financial                      Instruments—an amendment of FASB Statements No. 133 and 140*
*Accounting for Derivative                      Instruments and Hedging Activities*
*Accounting for                      Transfers and Servicing of Financial Assets and Extinguishments                      of                      Liabilities*
*Application of Statement 133 to Beneficial                      Interests in Securitized Financial Assets*

*Fair Value                          Measurements*

*Accounting for Uncertainty in Income Taxes—an interpretation of FASB                            Statement No. 109*

*How Taxes Collected from Customers and Remitted to Government              Authorities Should Be Presented in the Income Statement (That Is, Gross              versus              Net Presentation)*

*The Fair Value Option                      for Financial Assets and Liabilities*

***CRITICAL        ACCOUNTING POLICIES***

*Disclosure Regarding Forward-Looking Statements*
*Risk Factors*

***    Revenue                  Recognition/Allowance for Doubtful Accounts.***

***Inventories.***

***    Income                    Taxes*.**

***    Warranty*.**

***    Impairment                        of                        Long-Lived Assets.***
*Accounting for Impairment or Disposal of Long-Lived                        Assets*

****Item                3.  Quantitative** and Qualitative                Disclosures About Market                Risk.**

****Item                4.  Controls and                Procedures**.**

*Disclosure            Controls and Procedures*

**Certifying              Officers**

*Changes            in Internal Control over Financial Reporting*

**PART              II — OTHER INFORMATION**

**Item              1.  Legal              Proceedings.**

**ELE**
*Fire Shield*

**Item        1A.  Risk Factors.**

Form          10-K

****Item      2.  Unregistered Sales of Equity Securities and      Use of Proceeds.****

****Item      3.  Defaults Upon Senior      Securities.****

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

****Item      5.  Other      information.****

**Item              6. Exhibits.**

|   | Exhibit                  31.1 — Certification of the CEO pursuant to Rule 13a-14(a) or Rule                  15(d)-14(a).                                                                         |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |
|   | Exhibit                  31.2 — Certification of the CFO pursuant to Rule 13a-14(a) or Rule                  15(d)-14(a).                                                                         |
|   |
|   | Exhibit                    32.1 — Certification pursuant to 18 U.S.C. §1350 as adopted pursuant to                    Section 906 of the Sarbanes-Oxley                    Act of 2002. |
|   |
|   | Exhibit                    32.2 — Certification pursuant to 18 U.S.C. §1350 as adopted pursuant to                    Section 906 of the Sarbanes-Oxley                    Act of 2002. |
|   |

----

**SIGNATURES**

|                                    | TECHNOLOGY              RESEARCH CORPORATION                                                                                                                                                                                                                                                                             |
|-----------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                    |
| August 8,              2007   | By:                    /s/ Owen Farren___                                                                             |
|                                    |              Owen              Farren                                                                                                                                                                                                                   |
|                                    |                           President and Chief Executive Officer                                                                                                                                                                                              |
|                                    |                           (Principal Executive Officer)                                                                                                                                                                                                      |
|                                    |
|                                    |
| Augusts 8,              2007  | By:                    /s/ Barry              H. Black                                                 |
|                                    |              Barry              H. Black                                                                                                                                                                                                                |
|                                    |                           Chief Financial Officer                                                                                                                                                                                                            |
|                                    |                           (Principal Financial and Accounting              Officer)                                                                                                                                                                          |

----