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 June 30, 1997

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                           34620
____________________________________________________________________________
(Address of principal executive offices)                           (Zip Code)



Registrant's telephone number, including area code  (813) 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 July 31, 1997
____________________________                   ____________________________
Common stock, $.51 par value                            5,332,571



                     TECHNOLOGY RESEARCH CORPORATION

                                 INDEX


Part I - Financial Information                                    Page

Condensed Consolidate Balance Sheets
     - June 30, 1997 and March 31, 1997............................ 1

Condensed Consolidate Statements of Income
     - Three months ended June 30, 1997 and June 30, 1996.......... 2

Condensed Consolidated Statements of Cash Flows
     - Three months ended June 30, 1997 and June 30, 1996.......... 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......................................... 7

Item 2 - Changes in Securities..................................... 7

Item 3 - Defaults Upon Senior Securities........................... 7

Item 4 - Submission of Matters to a vote of Shareholders............7

Item 5 - Other Information......................................... 7

Item 6 - Exhibits and Reports on Form 8-K...........................7


Signatures......................................................... 8





















<TABLE>
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                        TECHNOLOGY RESEARCH CORPORATION
                           CONDENSED BALANCE SHEETS
<CAPTION>
                                                  June 30       March 31
                                                    1997          1997
                                                -----------    ---------
                 ASSETS                         (unaudited)       *
<S>                                          <C>            <C>
Current assets:
  Cash and cash equivalents                  $   2,348,662     1,307,567
  Short term investments                         2,013,980     3,031,013
  Accounts receivable, net                       2,594,797     2,304,449
  Income tax receivable                                  -       178,130
  Inventories:
    Raw material                                 3,789,302     3,138,639
    Work in process                                695,461     1,309,312
    Finished goods                                 905,231       694,817
                                                ----------    ----------
      Total inventories                          5,389,994     5,226,762
  Prepaid expenses                                 189,990       178,972
  Deferred income taxes                            396,150       411,400
                                                ----------    ----------
      Total current assets                      12,959,394    12,554,299
                                                ----------    ----------
Property, plant, and equipment                   7,558,021     6,817,411
  Less accumulated depreciation                 (4,030,048)   (3,859,909)
                                                ----------    ----------
      Net property, plant, and equipment         3,527,973     2,957,502
                                                ----------    ----------
Deferred income taxes                              102,120       102,120
Other assets                                        61,164        24,028
                                                ----------    ----------
                                              $ 16,624,830    15,637,949
                                                ==========    ==========





















        LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Current installments of long-term debt      $  1,075,100       652,999
  Accounts payable                               2,013,131     1,607,116
  Accrued expenses                                 339,443       296,549
  Dividends payable                                351,347       346,490
  Income taxes payable                             123,303             -
                                                ----------    ----------
     Total current liabilities                   3,902,324     2,903,154
Long-term debt, excluding current installments     187,600       206,250
                                                ----------    ----------
     Total liabilities                           4,089,924     3,109,404
                                                ----------    ----------
Stockholders' equity:
  Common stock                                   2,719,611     2,719,611
  Additional paid-in capital                     7,411,581     7,411,581
  Retained earnings                              2,403,714     2,397,353
                                                ----------    ----------
     Total stockholders' equity                 12,534,906    12,528,545
                                                ----------    ----------
                                              $ 16,624,830    15,637,949
                                                ==========    ==========

<FN>
<F1>
* The balance sheet as of March 31, 1997 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 STATEMENTS OF OPERATIONS
                                   (unaudited)

<CAPTION>
                                              Three Months Ended
                                                    June 30

                                               1997        1996
                                            ----------  ----------

Operating revenues:
<S>                                      <C>            <C>
  Net sales                              $   4,640,053   3,279,337
  Royalties                                    171,532      98,130
                                            ----------  ----------
                                             4,811,585   3,377,467
                                            ----------  ----------

Operating expenses:
  Cost of sales                              3,151,806   2,304,931
  Selling, general, and administrative         923,011     735,862
  Research, development and engineering        269,274     278,133
                                            ----------  ----------
                                             4,344,091   3,318,926
                                            ----------  ----------
    Operating income                           467,494      58,541
                                            ----------  ----------
Other income (deductions):
  Interest and sundry income                    45,521      55,462
  Interest expense                              (6,666)     (8,976)
                                            ----------  ----------
                                                38,969      46,486
                                            ----------  ----------
       Income before income taxes              506,463     105,027
Income taxes                                   180,148      34,000
                                            ----------  ----------
       Net income                        $     326,315      71,027
                                            ==========  ==========

Earnings per share                       $        0.06        0.01
                                            ==========  ==========
Weighted average number of common
  and equivalent shares outstanding          5,433,320   5,448,954
                                            ==========  ==========


Dividends paid                           $        0.06        0.06
                                            ==========  ==========

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





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

                                                      1997        1996
                                                   ----------  ----------
Cash flows from operating activities:
<S>                                             <C>            <C>
  Net income                                    $     326,315      71,027

  Adjustments to reconcile net income to net cash
    provided by operating activities:
      Accretion of interest                           (38,967)    (51,943)
      Depreciation                                    170,139     117,910
      Decrease(increase) in accounts receivable      (290,348)    579,578
      Decrease(increase) in inventories              (247,226)     14,128
      Increase in prepaid expenses                    (11,018)   (107,877)
      Decrease in income taxes receivable             178,130           -
      Decrease in deferred income taxes                15,250      14,000
      Increase(decrease) in other assets              (37,136)        100
      Increase(decrease) in accounts payable          406,015    (323,660)
      Increase in accrued expenses                     42,894      13,508
      Increase(decrease) in income taxes payable      123,303        (991)
                                                   ----------  ----------
        Net cash provided by operating activities     637,351     325,780
                                                   ----------  ----------
Cash flows from investing activities:
  Maturities of short-term investments              1,056,000   1,027,000
  Purchase of short-term investments                        -  (1,000,341)
  Capital expenditures                               (740,610)    (37,508)
                                                   ----------  ----------
        Net cash provided by(used in)
            investing activities                      315,390     (10,849)
                                                   ----------  ----------
Cash flows from financing activities:
  Net borrowings under line-of-credit agreement       422,101           -
  Principal payments on long-term debt                (18,650)    (18,750)
  Dividends paid                                     (315,097    (314,345)
                                                   ----------  ----------
        Net cash provided by(used in)
            financing activities                       88,354    (333,095)
                                                   ----------  ----------
Increase(decrease) in cash and cash equivalents     1,041,095     (18,164)

Cash and cash equivalents at beginning of period    1,307,567     341,601
                                                   ----------  ----------
Cash and cash equivalents at end of period      $   2,348,662     323,437
                                                   ==========  ==========

<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 three month period ended June 
    30, 1997, 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.  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 years 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 Three Months Ended June 30, 1997 versus Three Months Ended
June 30, 1996

Operating revenues (net sales and royalties) for the first quarter ended 
June 30, 1997 were $4,811,585, compared to $3,377,467 reported in the same 
quarter of the prior year, an increase of approximately 42%. Net income for 
the current quarter was $326,315, compared to $71,027, for the prior year's 
quarter, an increase of approximately 359%.  The earnings per share for the 
current period were $.06 per share as compared to $.01 for the comparable 
period last year, an increase of approximately 500%.

Higher revenues were due to commercial sales increasing by $413,507, military 
sales increasing by $947,209 and royalty income increasing by $73,402 over the 
prior fiscal period.  The increase in commercial sales was mainly due to the 
level of business with the Company's OEM customers. Sales to Xerox Corporation 
and its suppliers remained steady while sales to the sprayer/washer market 
showed a slight increase.  The Company expects commercial sales to follow this 
trend throughout Fiscal Year 1998 with sales to Xerox remaining under price 
pressure.  The increase in Military sales was mainly due to the Company now 
being in full production of the products related to the Tactical Quiet 
Generator Systems program.  Royalty income was up due to royalties of $100,000 
from Windmere Corporation and a licensing fee of $50,000 from Yaskawa Control 
Company of Japan.  Although the Company will not receive further royalties from
Windmere, the Company does expect to receive additional licensing fees from 
Yaskawa, which will partially offset the loss of royalty income from Windmere.

Total marketing expenses for "Fire Shield" and consumer marketing were $79,806 
and $114,039, respectively.  No significant sales have been recorded to date 
for the Company's "Fire Shield" products or as a result of the Company's 
consumer marketing program.  The Company continues to believe that the market 
for "Fire Shield" is large and that the consumer market for the Company's 
products provide significant opportunities for growth.

The Company's wholly owned subsidiary, TRC Honduras, S.A. de C.V., is currently
successfully producing several of the Company's Xerox products, and the 
remainder of the Xerox products and several other of the Company's high-volume 
products are scheduled to be produced in July and August, respectively.  The 
Company recorded a $94,792 loss for its subsidiary's first reporting period 
ended June 30, 1997. The Company expects its subsidiary to break even in the 
second quarter and produce a profit for the remainder of Fiscal Year 1998.  
According to plan and as a result of the successful start-up of the Honduran 
plant, the Company will close down its operation in the Far East at the end of 
July 1997, leaving the Honduran plant responsible for the manufacturing of all 
of the Company's high-volume products.

The Company's gross profit margin on net sales was 32% for the current quarter 
and 30% for the same period last year.  The increase was due to the profit 
margins associated with the Company's increase in military sales.


                                   - 5 -
Selling, general and administrative expenses for the current quarter were 
$923,011, compared to $735,862 in the same period last year, an increase of 
approximately 25%.  Selling expenses were $608,526 for the current quarter, 
compared to $512,106 the same period last year, an increase of approximately 
19%, reflecting higher salary, professional fees and travel expenses primarily 
associated with the "Fire Shield" and consumer marketing programs.  General and
administrative expenses were $314,485, compared to $223,756 in the same period 
last year, an increase of approximately 41% over comparable periods, of which 
23% was associated with the administrative expenses of the Company's subsidiary
and 18% was associated with higher temporary wages, professional fees and 
self-insured health costs of the parent company.

Research, development and engineering expenses for the current quarter were 
$269,274, compared to $278,133 for the same period in the prior year, a 
decrease of approximately 3%, reflecting comparable expenses over the 
respective periods.

Interest and sundry income, net of interest expense, for the current quarter 
was $38,969, compared to $46,486 for the same period last year, reflecting 
lower returns and average balances on the Company's short-term investments.

Liquidity and Capital Resources

As of June 30, 1997, the Company's cash and cash equivalents increased to 
$2,348,662 from the March 31, 1997 total of $1,307,567, and short term 
investments decreased to $2,013,980 from the March 31, 1997 total of 
$3,031,013.  The short term investments are comprised of U.S. Treasury Bills.

On August 15, 1997, the Company expects to renew its commercial line of credit,
which is currently $2,500,000, with its institutional lender for another two 
years, maturing in August 1999.  Currently, the Company has the option of 
borrowing at the lender's prime rate of interest or the 30-day London Interbank
Offering Rate (L.I.B.O.R.) plus 200 basis points.  The Company also has 
available a Banker's Acceptance agreement which gives the Company the option of
borrowing up to $750,000 under the line of credit with the interest rate being 
determined by the lender's International Division at the time of borrowing.

The Company began using its line of credit in the fourth quarter of Fiscal 
Year 1997 to fund the start-up of its Honduran subsidiary, expected to total 
$1,400,000, and as of June 30, 1997, the Company has drawn $1,000,000 on its 
bank line for this purpose.  The Company will pay down its line of credit as 
cash is generated by higher inventory turns, which is an expected result of 
manufacturing product in Honduras.

The mortgage payable to the Company's institutional lender as of June 30, 1997
was $262,600, compared to $281,250 at March 31, 1997, reflecting the Company's 
payments on principal for the first quarter.

The Company's working capital decreased by $546,914 to $9,057,070 at June 30, 
1997, compared to $9,603,984 at March 31, 1997.  The decrease was a result of 
the Company funding its Honduran subsidiary with its line of credit, which is 
currently considered short-term debt since it expires in August 1997.  Upon 
renewal, the line of credit will be considered long-term debt, thus improving 
the Company's working capital for the second quarter ended September 30, 1997. 
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.


                                   - 6 -
The first quarter dividend of $.06 per share was paid on July 15, 1997 to 
shareholders of record on June 30, 1997


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

Not Applicable.


Item 5.  Other Information

Not Applicable.


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.























                                  - 7 -
                ___________________________________________


                                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)



      August 6, 1997          Scott J. Loucks
___________________________   __________________________________
          Date                Scott J. Loucks
                              Chief Financial Officer,
                              (principal financial, accounting and
                              Duly Authorized Officer)





































                                  - 8 -