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

                                   FORM 10-Q


                     QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                       OF THE SECURITIES EXCHANGE ACT OF 1934



For the quarterly period ended September 30, 1998

Commission File Number:  0-13763



                        TECHNOLOGY RESEARCH CORPORATION
                        _______________________________
             (Exact name of registrant as specified in its charter)


          Florida                                                 59-2095002
_______________________________                             ________________
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                           Identification No,)


5250 140th Avenue North, Clearwater, Florida                           33760
____________________________________________________________________________
(Address of principal executive offices)                           (Zip Code)



Registrant's telephone number, including area code  (727) 535-0572



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 a shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

                         YES [X]          NO [ ]

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


            Class                              Outstanding at October 30, 1998
____________________________                   _______________________________
Common stock, $.51 par value                            5,455,737



                     TECHNOLOGY RESEARCH CORPORATION

                                 INDEX


Part I - Financial Information                                    Page

Condensed Consolidate Balance Sheets
     - September 30, 1998 and March 31, 1998....................... 1

Condensed Consolidate Statements of Income--Three months and
       Six months ended September 30, 1998 and September 30, 1997.. 2

Condensed Consolidated Statements of Cash Flows
     - Six months ended September 30, 1998 and September 30, 1997.. 3

Notes to Condensed Consolidated Financial Statements............... 4

Item 2 - Management's Discussion and Analysis of Financial
         Condition and Results of Operations....................... 5


Part II - Other Information


Item 1 - Legal Proceedings......................................... 8

Item 2 - Changes in Securities..................................... 8

Item 3 - Defaults Upon Senior Securities........................... 8

Item 4 - Submission of Matters to a vote of Shareholders............8

Item 5 - Other Information......................................... 8

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


Signatures......................................................... 9





















<TABLE>
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                        TECHNOLOGY RESEARCH CORPORATION
                     CONDENSED CONSOLIDATED BALANCE SHEETS
<CAPTION>
                                               September 30     March 31
                                                    1998          1998
                                               ------------    ---------
                 ASSETS                         (unaudited)       *
<S>                                          <C>            <C>
Current assets:
  Cash and cash equivalents                  $   1,769,991     1,153,798
  Short term investments                                 -     1,033,902
  Accounts receivable, net                       3,139,948     2,711,056
  Income tax receivable                             61,751       253,019
  Inventories:
    Raw material                                 3,827,845     4,499,524
    Work in process                                950,222       387,170
    Finished goods                                 657,189       438,715
                                                ----------    ----------
      Total inventories                          5,435,256     5,325,409
  Prepaid expenses                                  57,062       235,595
  Deferred income taxes                            371,048       406,100
                                                ----------    ----------
      Total current assets                      10,835,056    11,118,879
                                                ----------    ----------
Property, plant, and equipment                   9,464,904     9,033,808
  Less accumulated depreciation                 (4,840,297)   (4,476,692)
                                                ----------    ----------
      Net property, plant, and equipment         4,624,607     4,557,116
                                                ----------    ----------
Deferred income taxes                               55,928        55,928
Other assets                                       105,129        14,895
                                                ----------    ----------
                                              $ 15,620,720    15,746,818
                                                ==========    ==========





















        LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Current installments of long-term debt      $  2,525,100     2,525,100
  Accounts payable                                 825,967     1,216,624
  Accrued expenses                                 308,702       455,863
  Dividends payable                                 35,613        45,613
                                                ----------    ----------
     Total current liabilities                   3,695,382     4,243,200
Long-term debt, excluding current installments      93,750       131,250
                                                ----------    ----------
     Total liabilities                           3,789,132     4,374,450
                                                ----------    ----------
Stockholders' equity:
  Common stock                                   2,782,425     2,719,611
  Additional paid-in capital                     7,484,115     7,411,581
  Retained earnings                              1,565,048     1,241,176
                                                ----------    ----------
     Total stockholders' equity                 11,831,588    11,372,368
                                                ----------    ----------
                                              $ 15,620,720    15,746,818
                                                ==========    ==========

<FN>
<F1>
* The balance sheet as of March 31, 1998 has been summarized
  from the Company's audited balance sheet as of that date.
<F2>
See accompanying notes to condensed financial statements.
</FN>
</TABLE>




























                                  - 1 -
<TABLE>
                        TECHNOLOGY RESEARCH CORPORATION
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (unaudited)

<CAPTION>
                                        Three Months Ended       Six Months Ended
                                           September 30            September 30

                                         1998        1997        1998        1997
                                      ----------  ----------  ----------  ----------

Operating revenues:
<S>                                <C>            <C>         <C>         <C>
  Net sales                        $   4,439,340   4,489,085   9,176,862   9,129,138
  Royalties                               27,692      56,865      43,571     228,397
                                      ----------  ----------  ----------  ----------
                                       4,467,032   4,545,950   9,220,433   9,357,535
                                      ----------  ----------  ----------  ----------
Operating expenses:
  Cost of sales                        3,157,118   3,152,129   6,467,925   6,303,936
  Selling, general, and administrative   847,340     992,071   1,599,824   1,915,081
  Research, development and engineering  301,794     295,365     581,479     564,639
                                      ----------  ----------  ----------  ----------
                                       4,306,252   4,439,565   8,649,228   8,783,656
                                      ----------  ----------  ----------  ----------
    Operating income                     160,780     106,385     571,205     573,879
                                      ----------  ----------  ----------  ----------
Other income (deductions):
  Interest and sundry income              26,877      33,974      44,961      79,609
  Interest expense                       (52,096)    (42,781)   (103,983)    (49,447)
                                      ----------  ----------  ----------  ----------
                                         (25,219)     (8,807)    (59,022)     30,162
                                      ----------  ----------  ----------  ----------
       Income before income taxes        135,561      97,578     512,183     604,041
Income taxes                              51,551      23,559     188,311     203,707
                                      ----------  ----------  ----------  ----------
       Net income                  $      84,010      74,019     323,872     400,334
                                      ==========  ==========  ==========  ==========

Basic earnings per share           $        0.02        0.01        0.06        0.08
                                      ==========  ==========  ==========  ==========
Weighted average number of common
  and equivalent shares outstanding    5,424,946   5,332,571   5,410,774   5,332,571
                                      ==========  ==========  ==========  ==========
Diluted earnings per share         $        0.02        0.01        0.06        0.07
                                      ==========  ==========  ==========  ==========
Weighted average number of common
  and equivalent shares outstanding    5,424,946   5,436,578   5,410,774   5,434,708
                                      ==========  ==========  ==========  ==========

Dividends paid                     $           -        0.06           -        0.12
                                      ==========  ==========  ==========  ==========

<FN>
See accompanying notes to condensed financial statements.
</TABLE>


                                  - 2 -
<TABLE>
                        TECHNOLOGY RESEARCH CORPORATION
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (unaudited)
<CAPTION>
                                                      Six Months Ended
                                                        September 30

                                                      1998        1997
                                                   ----------  ----------
Cash flows from operating activities:
<S>                                             <C>            <C>
  Net income                                    $     323,872      400,334

  Adjustments to reconcile net income to net cash
    provided by operating activities:
      Accretion of interest                           (21,098)    (66,709)
      Depreciation                                    363,605     296,560
      Increase in accounts receivable                (428,892)   (335,472)
      Increase in inventories                        (109,847)   (135,484)
      Decrease (increase) in prepaid expenses         178,533     (77,363)
      Decrease in income taxes receivable             191,268     178,130
      Decrease(increase) in deferred income taxes      35,052    (105,961)
      Increase in other assets                        (90,234)    (34,119)
      Decrease in accounts payable                   (390,657)   (410,028)
      Increase(decrease) in accrued expenses         (147,161)     43,347
                                                   ----------  ----------
        Net cash used in operating activities         (95,559)   (246,765)
                                                   ----------  ----------
Cash flows from investing activities:
  Maturities of short-term investments              1,055,000   2,112,000
  Purchase of short-term investments                        -  (1,000,064)
  Capital expenditures                               (431,096) (1,700,902)
                                                   ----------  ----------
        Net cash provided by (used in)
            investing activities                      623,904    (588,966)
                                                   ----------  ----------
Cash flows from financing activities:
  Net borrowings under line-of-credit agreement             -     822,101
  Principal payments on long-term debt                (37,500)    (37,500)
  Proceeds from exercise of stock options             135,348           -
  Dividends paid                                      (10,000)   (630,209)
                                                   ----------  ----------
        Net cash provided financing activities         87,848     154,392
                                                   ----------  ----------
Increase (decrease) in cash and cash equivalents      616,193    (681,339)

Cash and cash equivalents at beginning of period    1,153,798   1,307,567
                                                   ----------  ----------
Cash and cash equivalents at end of period      $   1,769,991     626,228
                                                   ==========  ==========

<FN>
See accompanying notes to condensed financial statements.
</TABLE>




                                  - 3 -
                       TECHNOLOGY RESEARCH CORPORATION

                   NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  (unaudited)


1.  The financial information included herein is unaudited; however, such 
    information reflects all adjustments (consisting solely of normal recurring
    adjustments) which are, in the opinion of management, necessary for the 
    fair statement of results for the interim period.

    The results of operations for the six-month period ended September 30, 1998
    are not necessarily indicative of the results to be expected for the full 
    year.

2.  The Company considers all of its investment securities (U.S. Treasury 
    Bills) to be held-to-maturity.  These securities are all classified in 
    short-term investments on the consolidated balance sheets and mature 
    within one year.

3.  Basic earnings per share has been computed by dividing net income by the 
    weighted average number of common shares outstanding.

    Diluted earnings per share has been computed by dividing net income by 
    the weighted average number of common and equivalent shares outstanding. 
    Common share equivalents included in the computation represent shares 
    issuable upon exercise of stock options which would have a dilutive effect 
    in periods where there are earnings.































                                   - 4 -
Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULT OF OPERATIONS


The following is management's discussion and analysis of certain significant
factors which have affected the Company's financial position and operating
results during the periods included in the accompanying condensed consolidated 
financial statements.

Current Six Months Ended September 30, 1998 versus Six Months Ended
September 30, 1997

The Company's operating revenues (net sales and royalties) for the second 
quarter ended September 30, 1998 were $4,467,032, compared to $4,545,950 
reported in the same quarter last year, a decrease of approximately 2%. Net 
income for the current quarter was $84,010, compared to $74,019, for the same 
quarter last year, an increase of approximately 13%.  Basic and diluted 
earnings for the current period were $.02 per share compared to basic and 
diluted earnings of $.01 per share for the same quarter last year.

The Company continued to be profitable in its second fiscal quarter and 
attributes this to lower operating expenses and better performance from its 
Honduran subsidiary as shipments improved from that facility during the 
quarter.  Also, on September 25, 1998, the Company's subsidiary received its 
ISO 9002 certification.  ISO 9002 is a worldwide recognized quality system for 
manufacturing.

The Company's operating revenues (net sales and royalties) for the six-month 
period ended September 30, 1998 were $9,220,433, compared to $9,357,535 
reported in the same period of the prior year, a decrease of approximately 1%. 
Net income for the six-month period was $323,872, compared to $400,334, for 
the same period in the prior year, a decrease of approximately 19%.  Basic and 
diluted earnings for the six-month period were $.06 per share compared to basic
earnings of $.08 per share and diluted earnings of $.07 per share for the same 
period last year.

The Company's slight decline in revenues for the six-month period ended 
September 30, 1998, as compared to the same period last year, was due to 
military sales and royalty income being down by $809,247 and $184,826, 
respectively, while commercial sales increased by $856,971.  The decrease in 
Military sales was mainly due to the Company completing the current contract 
related to the Tactical Quiet (TQ) Generator Systems program; however, the 
Company has received an initial release under a new contract for the same TQ 
control equipment with deliveries to begin in December 1998.  Royalty income 
was higher in the prior year's six-month period due to the Company recording a 
one-time final royalty payment of $100,000 from Windmere Corporation in the 
first quarter of the prior year and recording licensing fees of $78,324 from 
Yaskawa Control Company of Japan during the six-month period ending 
September 30, 1997.  The increase in commercial sales was mainly due to the 
level of business with the Company's Domestic and International OEM customers. 
Sales to Xerox Corporation and its suppliers were relatively the same.

The Company had a small layoff of 12 employees, 9 hourly and 3 salary, in its 
second quarter ended September 30, 1998, and the total cost associated with the
layoff, including accrued vacation and severance, was approximately $55,000.
The layoff resulted from the Company's efforts to streamline activities in 
marketing and balance work requirements in manufacturing, purchasing and 
shipping with that of the Company's Honduran facility.

                                   - 5 -
The Company is continuing its marketing effort to convince manufacturers of 
appliances to include an OEM Fire Shield power cord with their products to 
prevent dangerous fires.  The Company is also continuing its public relations 
efforts to increase consumer awareness of its Safe Living/Smart Products which 
has resulted in opportunities in the Pet and Insurance industries for the 
Company's Fire Shield Smart Cord.  The Company has also targeted the Electric 
Utility industry as a channel for selling the Company's Safe Living/Smart 
Products, and one major utility company is actively marketing these products 
to its customer base.

The Company's gross profit margin on net sales was approximately 29% for the 
current quarter and approximately 30% for the six-month period ended September 
30, 1998, compared to 30% and 31% for the same periods last year, reflecting 
comparable gross profit margins year to year.  The Company expects profit 
margins to improve as the Honduran plant improves its productivity, which would
be reflected in lower manufacturing costs.

Selling, general and administrative expenses were $847,340 for the current 
quarter and $1,599,824 for the six-month period ended September 30, 1998, 
compared to $992,071 and $1,915,081 for the same periods last year, a decrease
of approximately 15% and 16%, respectively.  Selling expenses were $479,955 for
the current quarter and $898,393 for the six-month period ended September 30,
1998, compared to $632,878 and $1,241,404 for the same periods last year, a 
decrease of approximately 24% and 28%, respectively, reflecting lower salary 
related expense, professional fees, travel expenses and advertising costs, all 
of which is in line with the Company's plan to reduce operating expenses and 
improve profitability in Fiscal Year 1999.  General and administrative expenses
were $367,385 for the current quarter and $701,431 for the six-month period 
ended September 30, 1998, compared to $359,193 and $673,677 for the same 
periods last year, reflecting comparable expenses year to year.

Research, development and engineering expenses were $301,794 for the current 
quarter and $581,479 for the six-month period ended September 30, 1998, 
compared to $295,365 and $564,639 for the same periods last year, reflecting 
comparable expenses year to year.

Interest expense, net of interest and sundry income, for the current quarter 
was $25,219, compared to $8,807 for the same period last year, and $59,022 for 
the six-month period ended September 30, 1998, compared to interest and sundry 
income, net of interest expense, of $30,162 for the same period last year, 
reflecting lower returns and average balances on the Company's short-term 
investments.

















                                   - 6 -
Liquidity and Capital Resources

As of September 30, 1998, the Company's cash and cash equivalents were 
$1,769,991, compared to cash and cash equivalents of $1,153,798 and short term 
investments of $1,033,902 at March 31, 1998.  The short term investments at 
year end were comprised of U.S. Treasury Bills.  The Company's cash is 
currently held in a money market fund whose yield is comparable to U.S. Treasury
Bills.  The decrease in overall cash was due primarily to capital equipment 
purchases during the six-month period.

On September 15, 1998, the Company renewed its $2,500,000 commercial line of 
credit with its institutional lender for another year, maturing in September 
1999.  The Company has the option of borrowing at the lender's prime rate of 
interest minus 25 basis points or the 30-day London Interbank Offering Rate 
(L.I.B.O.R.) plus 175 basis points. The Company's debt from advances on its 
line of credit was $2,450,100 as of September 30, 1998.

The Company's working capital increased by $263,995 to $7,139,674 at September 
30, 1998, compared to $6,875,679 at March 31, 1998.  The increase was primarily
a result of the Company's continued profitability through its second fiscal 
quarter.  The Company believes cash flow from operations, the available bank 
line, and its short term investments and current cash position will be 
sufficient to meet its working capital requirements for the immediate future.

The mortgage payable to the Company's institutional lender as of September 30, 
1998 was $168,750, compared to $206,250 at March 31, 1998, reflecting the 
Company's payments on principal for the six-month period.

The Company's Board of Directors did not declare a dividend for its second 
quarter ended September 30, 1998.  The Company's Board of Directors will review
the Company's dividend policy on a quarterly basis and make a determination at 
such time as to whether the Company will resume payment of a dividend based on 
the Company's cash and earnings position.


Year 2000

The Year 2000 problem is the result of computer programs being written using 
two digits rather than four to define the applicable year.  The Company has 
begun converting its date-sensitive systems to be Year 2000 compliant with its 
Honduran subsidiary already in compliance.  The Company's plan is to have all 
of its date-sensitive systems compliant by the middle of 1999.  None of the 
Company's products are Year 2000 sensitive, so the total cost of the project 
will be minimal, estimated at $10,000.  The Company is expensing all costs 
associated with these system changes as the costs are incurred, and they will 
be funded through operating cash flows


Safe Harbor Statement

The statements in this report that relate to future plans, expectations, 
events, performance and the like are forward-looking statements, within the 
meaning of the Private Securities Litigation Act of 1995 and the Securities 
Exchange Act of 1934.  Actual results or events could differ materially from 
those described in the forward-looking statements due to a variety of factors, 
including those set forth in the Company's reports on Form 10-K and 10-Q filed 
with the Securities and Exchange Commission.


                                   - 7 -
Part II - Other Information


Item 1.  Legal Proceedings

Not Applicable.


Item 2.  Changes in Securities

Not Applicable.


Item 3.  Defaults Upon Senior Securities

Not Applicable.


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

At the Company's annual meeting of shareholders held on August 20, 1999, the 
following matters were submitted for a vote by the shareholders:

     1.  To elect five members of the Board of Directors who will be elected 
         to a one-year term of office.

                                  VOTES FOR   VOTES AGAINST
                                  ---------   -------------
         Robert S. Wiggins        4,303,239         560,999
         Raymond H. Legatti       4,803,573          60,665
         Raymond B. Wood          4,806,940          57,298
         Edmund F. Murphy, Jr.    4,801,872          62,366
         Jerry T. Kendall         4,805,739          58,499


     2.  To ratify the selection by the Company's Board of Directors of KPMG 
         Peat Marwick LLP, Certified Public Accountants, as independent 
         auditors of the Company for its fiscal year ending March 31, 1999.

                                  VOTES FOR   VOTES AGAINST   VOTES ABSTAINED
                                  ---------   -------------   ---------------
         To ratify auditors       4,838,401          22,855           11,968


Item 5.  Other Information

The Company announced, on November 2, 1998, that the Company's manufacturing 
facility in San Pedro Sula, Honduras is operational and was not damaged by 
Hurricane Mitch. Due to heavy flooding, however, some delays may be experienced
in moving material in and out of the country.  The plant is currently operating
at approximately 60% capacity and is expected to return to full capacity within
the week as employees are able to return to work from the flooded areas.


Item 6.  Exhibits and Reports on Form 8-K

The Company filed no reports on Form 8-K during the quarter covered by this 
Report.

                                   - 8 -
                ___________________________________________


                                SIGNATURES


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


                              TECHNOLOGY RESEARCH CORPORATION
                                       (registrant)



     November 2, 1998         Scott J. Loucks
___________________________   __________________________________
          Date                Scott J. Loucks
                              Chief Financial Officer,
                              (principal financial, accounting and
                              Duly Authorized Officer)





































                                   - 9 -