<PAGE>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                                    FORM 10-Q

                Quarterly Report pursuant to Section 13 or 15(d)
                          of the Securities Act of 1934



For the quarter ended                                Commission File No. 0-13403
September 30, 2001
--------------------------------------------------------------------------------

                               AMISTAR CORPORATION
             (Exact name of registrant as specified in its Charter)
--------------------------------------------------------------------------------

      STATE OF CALIFORNIA                                         95-2747332
(State or other jurisdiction of                               (I.R.S. Employer
Incorporation or organization)                               Identification No.)



          237 VIA VERA CRUZ                                         92069
       SAN MARCOS, CALIFORNIA                                     (Zip Code)
(Address of principle executive offices)

                                 (760) 471-1700
              (Registrant's telephone number, including area code)


         Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes x No __

          CLASS                                     OUTSTANDING AT OCT 29, 2001

Common Stock $.01 Par Value                                   3,137,250



                                       1
<PAGE>

Part I
ITEM 1. FINANCIAL STATEMENTS

                               AMISTAR CORPORATION
                            Condensed Balance Sheets
                          (Unaudited and in thousands)

                                                          Sept. 30,    Dec. 31,
                                                            2001        2000
                                                         ---------    ---------

ASSETS
Current assets:
   Cash and cash equivalents                             $  3,092     $  4,519
   Trade accounts and contracts receivable, net             2,167        2,899
   Inventories                                              2,862        3,079
   Demonstration equipment                                    189          113
   Prepaid expenses                                            79          195
                                                         ---------    ---------
     Total current assets                                   8,389       10,805

Property and equipment, net                                 4,512        4,869
Restricted cash                                             1,452        1,329
Other assets                                                  125          103
                                                         ---------    ---------

                                                         $ 14,478     $ 17,106
                                                         =========    =========

LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities:
   Accounts payable                                      $    357     $    590
   Accrued liabilities                                        732          591
                                                         ---------    ---------
      Total current liabilities                             1,089        1,181
                                                         ---------    ---------

Industrial development bonds                                4,500        4,500
                                                         ---------    ---------

Shareholders' equity:
  Common stock                                                 31           31
  Additional paid-in capital                                4,590        4,589
  Retained earnings                                         4,268        6,805
                                                         ---------    ---------
     Total shareholders' equity                             8,889       11,425
                                                         ---------    ---------

                                                         $ 14,478     $ 17,106
                                                         =========    =========


SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS.


                                       2
<PAGE>
                               AMISTAR CORPORATION
                       Condensed Statements of Operations
               (Unaudited and in thousands, except per share data)

                                       Three months ended     Nine months ended
                                           Sept. 30,             Sept. 30,
                                       2001        2000       2001       2000
                                    ---------   ---------  ---------   ---------

Net sales                           $  3,890    $  4,025   $ 10,968    $ 14,271

Cost of sales                          4,037       3,249     10,837      10,953
                                    ---------   ---------  ---------   ---------

Gross profit (loss)                     (147)        776        131       3,318

Operating expenses:
  Selling                                229         299        975       1,331
  General and administrative             394         205        987         806
  Research and development               140         239        745         770
                                    ---------   ---------  ---------   ---------
                                         763         743      2,707       2,907
                                    ---------   ---------  ---------   ---------

Earnings (loss) from operations         (910)         33     (2,576)        411

Other income, net                          7          23         45          85
                                    ---------   ---------  ---------   ---------
Earnings (loss) before
     income taxes                       (903)         56     (2,531)        496

Income taxes                               2           9          6           9
                                    ---------   ---------  ---------   ---------

Net earnings (loss)                 $   (905)   $     47   $ (2,537)   $    487
                                    =========   =========  =========   =========

Earnings (loss) per common share-
   basic and diluted                $  (0.29)   $   0.02   $  (0.81)   $   0.16
                                    =========   =========  =========   =========

Weighted average shares
   outstanding: Basic                  3,139       3,137      3,139       3,137
                                    =========   =========  =========   =========
                Diluted                3,139       3,241      3,139       3,222
                                    =========   =========  =========   =========





SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS.

                                       3
<PAGE>
                               AMISTAR CORPORATION
                            Statements of Cash Flows
                          (Unaudited and in thousands)

Nine months ended September 30,                               2001       2000
--------------------------------------------------------------------------------

Cash flows from operating activities:
  Net earnings (loss)                                        $(2,537)   $   487
  Adjustments to reconcile net earnings (loss) to
    net cash provided by (used in) operating activities:
    Depreciation and amortization                                532        564
    Changes in assets and liabilities:
      Trade accounts and contracts receivable, net               732        387
      Inventories                                                217         (2)
      Demonstration equipment                                    (76)       (44)
      Prepaid expenses and other assets                           94          3
      Accounts payable and accrued liabilities                   (92)       213
                                                             --------   --------

Net cash provided by (used in) operating activities           (1,130)     1,608
                                                             --------   --------

Cash flows from investing activities-
  purchase of property and equipment                            (175)      (150)
                                                             --------   --------

Cash flows from financing activities:
  Increase in restricted cash                                   (123)         -
  Repurchase of common stock                                      (3)         -
  Exercise of stock options                                        4          -
                                                             --------   --------
                                                                (122)         -
                                                             --------   --------

Net increase (decrease) in cash and cash equivalents          (1,427)     1,458
                                                             --------   --------
Cash and cash equivalents, beginning of period                 4,519      2,476
                                                             --------   --------
Cash and cash equivalents, end of period                     $ 3,092    $ 3,934
                                                             ========   ========

Supplemental disclosure of cash flow information-

   Cash paid during the period for:
       Interest                                              $   117    $   133
       Income taxes                                          $     9    $     4




SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS.


<PAGE>

                               AMISTAR CORPORATION
                     Notes to Condensed Financial Statements
                                   (Unaudited)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation
---------------------

    The Interim Condensed Financial Statements of Amistar Corporation, a
California corporation (the "Company") have been prepared by the Company,
without audit, pursuant to the rules and regulations of the Securities and
Exchange Commission. Certain information and footnote disclosures normally
included in the financial statements prepared in accordance with accounting
principles generally accepted in the United States of America have been omitted
pursuant to such rules and regulations. The results of operations for the
nine-month period ended September 30, 2001 are not necessarily indicative of the
results to be expected for the full year. These Interim Condensed Financial
Statements should be read in conjunction with the audited financial statements
and notes thereto included in the Company's 2000 annual report on Form 10-K as
filed with the Securities and Exchange Commission on March 15, 2001.

Inventories
-----------

    Inventories are stated at the lower of cost (first-in, first-out) or market
and include material, labor and manufacturing overhead costs. Inventories
consist of the following (in thousands):

                                          Sept. 30,             Dec. 31,
                                            2001                 2000
                                       ---------------      ---------------
Raw Material                             $   1,324             $   1,418
Work In Process                                755                   812
Finished Goods                                 783                   849
                                       ---------------      ---------------
                                         $   2,862             $   3,079
                                       ===============      ===============




                                       5
<PAGE>


                               AMISTAR CORPORATION
                     Notes to Condensed Financial Statements


Earnings Per Common Share
-------------------------

     The Company calculates net earnings (loss) per share in accordance with
SFAS No. 128, Earnings Per Share. Under SFAS No. 128, basic net earnings (loss)
per common share is calculated by dividing net earnings by the weighted-average
number of common shares outstanding during the reporting period. Diluted net
earnings (loss) per common share reflects the effects of potentially dilutive
securities where the effect of inclusion of such securities would not be anti
dilutive. Weighted average shares used to compute net earnings (loss) per share
are presented below (in thousands):


                                       Three months ended    Nine months ended
                                            Sept. 30,             Sept. 30,
                                         2001       2000       2001       2000
                                      ---------  ---------  ---------  ---------
 Weighted-average shares, basic          3,139      3,137      3,139      3,137

 Dilutive effect of stock options            -        104          -         85
                                      ---------  ---------  ---------  ---------

 Weighted-average shares, diluted        3,139      3,241      3,139      3,222
                                      =========  =========  =========  =========

     Options to purchase 133,000 and 140,000 shares of potentially dilutive
common stock were excluded from the calculation of diluted net earnings (loss)
per share for the three and nine months ended September 30, 2001, respectively,
because the effects of these instruments were anti-dilutive.

Industrial Development Bonds
----------------------------

     The Company maintains a letter of credit from its' bank in support of the
$4,500,000 industrial development bonds. During the current quarter, the
Company's bank revised the amount of restricted cash from $1,329,000 to
$1,452,000 to be set aside as collateral in support of the letter of credit. As
of September 30, 2001, the Company was in violation of certain covenants
included in a reimbursement agreement with its bank in support of the stand-by
letter of credit. The Company has received a waiver from its Bank for all
covenants in violation through December 30, 2001. In addition, the Company has
reached an agreement with its bank for revised covenants for which the Company
expects to be in compliance.

                                       6
<PAGE>


                               AMISTAR CORPORATION
               Notes to Condensed Financial Statements, Continued

Industry Segments and Geographic Information
--------------------------------------------

     The following table summarizes the Company's two operating segments:
Machine Sales and Service, which encompass the manufacture and distribution of
assembly machines and related accessories, and Amistar Manufacturing Services
(AMS). The Company identifies reportable segments based on the unique nature of
operating activities, customer base and marketing channels. Information is also
provided by major geographical area (dollars in thousands).
<TABLE>
<CAPTION>
                                         MACHINE SALES AND SERVICE
                                        ----------------------------
                                         UNITED                         MFG.
                                         STATES   FOREIGN    TOTAL    SERVICES  CORPORATE  TOTAL
                                        ========  ========  ========  ========  ========  ========
--------------------------------------------------------------------------------------------------
THREE MONTHS ENDED SEPTEMBER 30, 2001

<S>                                     <C>       <C>       <C>       <C>       <C>      <C>
Net sales                               $ 1,053   $    55   $ 1,108   $ 2,782   $     -   $ 3,890
                                        ========  ========  ========  ========  ========  ========
Depreciation and amortization                59         -        59       113         -       172
                                        ========  ========  ========  ========  ========  ========
Earnings (loss) from operations            (606)      (31)     (637)     (273)        -      (910)
                                        ========  ========  ========  ========  ========  ========
Total assets                              5,170         -     5,170     4,782     4,526    14,478
                                        ========  ========  ========  ========  ========  ========
Additions to long-lived assets                -         -         -         1         -         1
                                        ========  ========  ========  ========  ========  ========

THREE MONTHS ENDED SEPTEMBER 30, 2000

Net sales                               $ 1,615   $   332   $ 1,947   $ 2,078   $     -   $ 4,025
                                        ========  ========  ========  ========  ========  ========
Depreciation and amortization                80         -        80       113         -       193
                                        ========  ========  ========  ========  ========  ========
Earnings (loss) from operations             127        27       154      (121)        -        33
                                        ========  ========  ========  ========  ========  ========
Total assets                              4,927       750     5,677     2,671     8,631    16,979
                                        ========  ========  ========  ========  ========  ========
Additions to long-lived assets                -         -         -       (12)       77        65
                                        ========  ========  ========  ========  ========  ========

NINE MONTHS ENDED SEPTEMBER 30, 2001

Net sales                               $ 2,293   $   121   $ 2,414   $ 8,554   $     -   $10,968
                                        ========  ========  ========  ========  ========  ========
Depreciation and amortization               198         -       198       334         -       532
                                        ========  ========  ========  ========  ========  ========
Earnings (loss) from operations          (1,534)      (80)   (1,614)     (962)        -    (2,576)
                                        ========  ========  ========  ========  ========  ========
Additions to long-lived assets                -         -         -       175         -       175
                                        ========  ========  ========  ========  ========  ========

NINE MONTHS ENDED SEPTEMBER 30, 2000

Net sales                               $ 6,569   $ 1,346   $ 7,915   $ 6,356   $     -   $14,271
                                        ========  ========  ========  ========  ========  ========
Depreciation and amortization               219         -       219       345         -       564
                                        ========  ========  ========  ========  ========  ========
Earnings (loss) from operations             762       156       918      (507)        -       411
                                        ========  ========  ========  ========  ========  ========
Additions to long-lived assets               59         -        59        14        77       150
                                        ========  ========  ========  ========  ========  ========

</TABLE>


                                       7

<PAGE>

                               AMISTAR CORPORATION

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

Forward Looking Statements
--------------------------

     This Quarterly Report contains forward-looking statements within the
meaning of the Private Securities Reform Act of 1995, particularly statements
regarding market opportunities, customer acceptance of products, gross margin
and marketing expenses. These forward-looking statements involve risks and
uncertainties, and the cautionary statements set forth below identify important
factors that could cause actual results to differ materially from those in any
such forward-looking statements. Such factors include, but are not limited to,
adverse changes in general economic conditions, including changes in the
specific markets for the Company's products, product availability, decreased or
lack of growth in the electronics industry, adverse changes in customer order
patterns, increased competition, lack of acceptance of new products, pricing
pressures, lack of success in technological advancements, risks associated with
foreign trade and other factors.


                              RESULTS OF OPERATIONS

Net Sales
---------

     Net sales for the three months ended September 30, 2001 were $3,890,000
compared to $4,025,000 for the same period in the prior year. Despite operating
in an environment of soft demand for capital equipment in the electronics
industry, the Company was able to ship DataPlace machines in the current
quarter. In the preceding quarter, the Company was unable to ship any machines
due to lack of orders. Responding to the industry slow-down earlier in the year,
several of the Company's largest machine customers have continued their freeze
on capital expenditures.

     The Amistar Industrial Automation division (AIA) received its most
significant order to-date, and shipped eight machines totaling $642,000 to a
major sports equipment manufacturer in the current quarter. The revenue
generated included engineering design, turnkey fabrication and turnkey assembly
services.

     The Amistar Manufacturing Services division (AMS) sales grew 34% and 35%
for the three and nine months ended September 30, 2001, respectively, over the
same periods of 2000 due to increased orders from new and existing customers.
The increased AMS orders were primarily from the Company's base of medical
equipment product customers. During the current year, certain electronic
components that were formerly in limited supply during much of 2000 became more
readily available, which allowed the Company to fulfill a greater portion of
orders received.

Gross Profit
------------

     Gross profit declined during the quarter ended September 2001 from the same
period in 2000, resulting in a negative gross profit. The gross profit decline
was due to lower machine sales, higher machine division manufacturing costs, a
change in sales mix between machine and contract assembly sales, but was
partially offset by the favorable contribution from AIA. In addition, the
Company recorded charges totaling $408,000 related to additions to reserves for
inventory obsolescence related to surface mount machine products. Contract
assembly sales

                                       8
<PAGE>

                               AMISTAR CORPORATION

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

Gross Profit, cont'd
--------------------

generally have much lower gross margins than machine sales. During the current
quarter, contract assembly sales represented 72% of total sales, compared to the
same quarter in 2000 where contract assembly sales represented 52% of total
sales.

Selling Expenses
----------------

Selling expenses decreased from the second quarter of 2001 and the nine-month
period of 2000 primarily due to machine division personnel reductions and lower
commission expenses resulting from the decrease in machine sales.

General and Administrative Expenses
-----------------------------------

     General and administrative expenses increased in the current quarter and
nine-month period over the same periods in 2000, primarily due to a $121,000
restructuring charge related to the consolidation of AMS production facilities.
The consolidation of facilities was one of several cost reduction initiatives
the Company has implemented.

Restructuring Charges
---------------------

     During the current year, the Company undertook several initiatives aimed at
reducing operating expenses as well as improving operational efficiencies.
During the current quarter, the Company closed the Anaheim AMS facility and
consolidated production into the San Marcos facility. In connection with the
Anaheim plant closing, restructuring charges of $121,000 were recorded in
general and administrative expenses in the current quarter. The charge was
comprised of $29,000 for severance payments to terminated employees, $69,000 for
lease abandonment, $10,000 for the write-off of fixed assets, and $13,000 for
other closure costs. Of the total charge of $121,000, $38,000 had been paid as
of September 30, 2001, and the balance, which is included in accrued
liabilities, is estimated to be paid by March 31, 2002.

Research and Development Expenses
---------------------------------

     Development efforts were focused during the nine months ended September
2001 on completion of the DataPlace(R) 1M product identification machine. During
the current quarter, development costs decreased over the comparable quarter in
2000 primarily due to increased engineering design services sales, which
resulted in an allocation of engineering wages to cost of sales.

Income Taxes
------------

     The income tax provision for the three and nine months ended September 30,
2001 represents the minimum tax liability to various states. The Company has
obtained refunds for all Federal income tax carry-backs available. A 100%
valuation allowance has been recorded against deferred tax assets.


                                       9
<PAGE>

                               AMISTAR CORPORATION

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

                         LIQUIDITY AND CAPITAL RESOURCES

     The Company's cash used in operating activities was $1,130,000 for the nine
months ended September 30, 2001. Trade accounts and contracts receivable
decreased primarily due to the lower sales level and due to a reduction in the
days outstanding. Inventories decreased primarily due to the addition of
reserves for inventory obsolescence. Excluding the reserve addition, inventories
increased due to the decline in machine sales relative to the Company's
production plan. The Company has taken advantage of increased early pay
discounts offered by electronic suppliers in the current year, resulting in
decreased accounts payable. Capital expenditures in the current quarter
primarily consisted of AMS production facility improvements to retrofit the San
Marcos facility for two additional production lines relocated from the Anaheim
facility.

     The Company maintains a letter of credit from its' bank in support of the
$4,500,000 industrial development bonds. During the current quarter, the
Company's bank revised the amount of restricted cash from $1,329,000 to
$1,452,000 to be set aside as collateral in support of the letter of credit. As
of September 30, 2001, the Company was in violation of certain covenants
included in a reimbursement agreement with its bank in support of the letter of
credit. The Company has received a waiver from its Bank for all covenants in
violation through December 30, 2001. In addition, the Company has reached an
agreement with its bank for revised covenants for which the Company expects to
be in compliance.

New Accounting Pronouncements
-----------------------------

     The Company believes that cash provided from operations and cash balances
at September 30, 2001 will be adequate to support its operating and investing
requirements through 2001 and beyond.

     In August 2001, the FASB issued Statement of Financial Accounting Standards
No. 143 (SFAS No. 143), "Accounting for Asset Retirement Obligations," which
addresses financial accounting and reporting for obligations associated with the
retirement of tangible long-lived assets and for the associated asset retirement
costs. The standard applies to tangible long-lived assets that have a legal
obligation associated with their retirement that results from the acquisition,
construction or development or normal use of the asset. SFAS No. 143 requires
that the fair value of a liability for an asset retirement obligation be
recognized in the period in which it is incurred if a reasonable estimate of
fair value can be made. The fair value of the liability is added to the carrying
amount of the associated asset and this additional carrying amount is
depreciated over the remaining life of the asset. The liability is accreted at
the end of each period through charges to operating expense. The provisions of
SFAS No. 143 are required to be applied during the quarter ending March 31,
2003. To accomplish this, the Company must identify all legal obligations for
asset retirement obligations, if any, and determine the fair value of these
obligations on the date of adoption. The determination of fair value is complex
and will require the Company to gather market information and develop cash flow
models. Additionally, the Company will be required to develop processes to track
and monitor these obligations. Because of the effort necessary to comply with
the adoption of SFAS No. 143, it is not practicable for the Company to estimate
the impact of adopting this statement at the date of this quarterly report.

     In October 2001, the FASB issued Statement of Financial Accounting
Standards No. 144 (SFAS No. 144), "Accounting for the Impairment or Disposal of
Long-Lived Assets," which addresses financial accounting and reporting for the
impairment or disposal of long-lived assets. While SFAS No. 144 supersedes SFAS
No. 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets to Be Disposed Of," it retains many of the fundamental provisions of SFAS
No. 121, including the recognition and measurement of the impairment of
long-lived assets to be held and used, and the measurement of long-lived assets
to be disposed of by sale. SFAS No. 144 also supersedes the accounting and
reporting provisions of Accounting Principles Board Opinion No. 30 (APB No. 30),
"Reporting the Results of Operations--Reporting the Effects of Disposal of a
Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring
Events and Transactions," for the disposal of a segment of a business. However,
it retains the requirement in APB No. 30 to report separately discontinued
operations and extends that reporting to a component of an entity that either
has been disposed of (by sale, abandonment, or in a distribution to owners) or
is classified as held for sale. SFAS No. 144 is effective for fiscal years
beginning after December 15, 2001. At this time, the Company does not anticipate
that the adoption of SFAS No. 144 will have a material effect on the Company's
consolidated financial statements.


                                       10
<PAGE>

Item 3. Quantitative and Qualitative Disclosures about Market Risk

     The Company is exposed to a variety of risks, including changes in interest
rates affecting the cost of its debt. The Company's long-term debt at September
30, 2001 is comprised of $4,500,000 Industrial Development bonds. The bonds
mature in December 2005, and accrue interest at a variable monthly rate.
Interest was paid at a weighted-average variable rate of 2.5% during the quarter
ending September 30, 2001. An immediate 10% increase in the weighted-average
interest rate would not have a material impact on the Company's financial
position or results of operations.



PART II.

Items 1-5 Non-Applicable

Item 6 Exhibits and Reports on Form 8-K
       (a) Exhibits:
            None
       (b) Reports on form 8-K:
            None


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

                                               AMISTAR CORPORATION


                                               By /s/ William W. Holl
                                               ---------------------------------
                                               William W. Holl
                                               Chief Financial Officer,
                                               Chief Accounting Officer &
                                               Duly Authorized Officer





                                       11