----

----

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

| Large accelerated filer o           | Accelerated filer o              |
|------------------------------------------|---------------------------------------|
| Non-accelerated filer   o | Smaller reporting company þ |

----

| PART I — FINANCIAL INFORMATION                                                                                   |
|------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                   |
|                                                                                                                   | Item 1.  Financial Statements  (Unaudited) |
|                                                                                                                   |    Condensed Consolidated Balance Sheets |
|                                                                                                                   |    Condensed Consolidated Statements of Income    |
|                                                                                                                   |    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 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 |
|                                                                                                                   |
|                                                                                                                   |

----

PART I — FINANCIAL INFORMATION

Item 1.  Financial Statements

Condensed Consolidated Balance Sheets

|                                                                                                                               |   | June 30, |   |   | March 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|--------|--------|-----------|--------|
|   ASSETS                                                                                                                 |   | 2009          |   |   | 2009      |   |
| Current assets:                                                                                                                    |   |          |   |   |      |   |
|    Cash and cash equivalents                                                                                        |   | $             | 3,203  |   |      |   | 2,954 |   |
|    Short-term investments                                                                                                |   |          | 4,998  |   |      |   | 3,996 |   |
|    Trade and other accounts receivable, net of allowance for doubtful                                                              |   |          |   |   |      |   |   |   |
|         accounts of $134 at June 30, 2009 and $203 at March 31, 2009   |   |          | 5,779  |   |      |   | 5,372 |   |
|    Income taxes receivable                                                                                          |   |          | 177    |   |      |   |   631 |   |
|    Inventories                                                                                                      |   |          | 7,052  |   |      |   | 8,013 |   |
|    Deferred income taxes                                                                                                 |   |          | 654    |   |      |   | 622 |   |
|    Prepaid expenses and other current assets                                                                        |   |          | 330    |   |      |   | 265 |   |
|      Total current assets                                                                                      |   |          | 22,193 |   |      |   | 21,853 |   |
|                                                                                                                                         |   |          |   |   |      |   |   |   |
| Property, plant and equipment, net of accumulated depreciation of                                                                       |   |          |   |   |      |   |   |   |
|    $9,856 at June 30, 2009 and $9,852  at March 31, 2009                                                                 |   |          | 2,871  |   |      |   | 3,189 |   |
|                                                                                                                                         |   |          |   |   |      |   |   |   |
| Intangible assets, net of accumulated amortization of $193 at June 30, 2009 and $178 at March 31, 2009                                       |   |          | 389    |   |      |   | 404 |   |
| Other assets                                                                                                                       |   |          | 33     |   |      |   | 33 |   |
|  Total assets                                                                                                                      |   | $             | 25,486 |   |      |   | 25,479 |   |
|                                                                                                                                         |   |          |   |   |      |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                         |   |          |   |   |      |   |   |   |
| Current liabilities:                                                                                                                    |   |          |   |   |      |   |   |   |
|    Trade accounts payable                                                                                                          |   | $             | 1,334  |   |      |   | 1,309 |   |
|    Accrued expenses                                                                                                                |   |          | 1,113  |   |      |   | 1,422 |   |
|    Accrued dividends                                                                                                               |   |          | 121    |   |      |   | 121 |   |
|    Unsettled treasury obligation                                                                                                   |   |          | -      |   |      |   | 998 |   |
|       Total current liabilities                                                                                     |   |          | 2,568  |   |      |   | 3,850 |   |
|                                                                                                                                         |   |          |   |   |      |   |   |   |
| Income taxes payable                                                                                                                         |   |          | 190    |   |      |   | 111 |   |
| Deferred income taxes                                                                                                                   |   |          | 25     |   |      |   | 37 |   |
|          Total liabilities                                                                           |   |          | 2,783  |   |      |   | 3,998 |   |
|                                                                                                                                         |   |          |   |   |      |   |   |   |
| Stockholders' equity:                                                                                                                   |   |          |   |   |      |   |   |   |
|    Common stock $0.51 par value; 10,000,000 shares                                                                                 |   |          |   |   |      |   |   |   |
|       authorized, 5,912,328 shares issued and                                                                       |   |          |   |   |      |   |   |   |
|       5,890,828 shares outstanding                                                                                  |   |          | 3,015  |   |      |   | 3,015 |   |
|    Additional paid-in capital                                                                                                      |   |          | 10,109 |   |      |   | 9,982 |   |
|    Retained earnings                                                                                                               |   |          | 9,619  |   |      |   | 8,524 |   |
|    Common stock held in treasury, 21,500 shares at cost                                                                            |   |          | (40    | )      |      |   | (40 | ) |
|       Total stockholders' equity                                                                                    |   |          | 22,703 |   |      |   | 21,481 |   |
|          Total liabilities and stockholders' equity                                                  |   |  $       | 25,486 |   |      |   | 25,479 |   |

----

Condensed Consolidated Statements of Income

|                             Three Months Ended June 30, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                           |   | 2009 |   |   | 2008 |   |   |
| Revenue:                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |
|    Commercial                                                                                                                                                                        |   | $ | 3,365 |   |   |   | 5,562 |   |   |
|    Military                                                                                                                                                                     |   |   | 6,208 |   |   |   | 2,988 |   |   |
|    Royalty                                                                                                                                                                      |   |   | 126 |   |   |   | 81 |   |   |
|       Total revenue                                                                                                                                                   |   |   | 9,699 |   |   |   | 8,631 |   |   |
| Cost of sales                                                                                                                                                                        |   |   | 5,649 |   |   |   | 6,097 |   |   |
|       Gross profit                                                                                                                                               |   |   | 4,050 |   |   |   | 2,534 |   |   |
|                                                                                                                                                                                           |   |   |   |   |   |   |   |   |   |
| Operating expenses:                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |
|    Selling and marketing                                                                                                                                                             |   |   | 672 |   |   |   | 687 |   |   |
|    General and administrative                                                                                                                                                        |   |   | 1,004 |   |   |   | 1,247 |   |   |
|    Research and development                                                                                                                                                     |   |   | 673 |   |   |   | 537 |   |   |
|       Total operating expenses                                                                                                                                   |   |   | 2,349 |   |   |   | 2,471 |   |   |
| Income from operations                                                                                                                                                                         |   |   | 1,701 |   |   |   | 63 |   |   |
|                                                                                                                                                                                           |   |   |   |   |   |   |   |   |   |
|    Other income, net                                                                                                                                                                 |   |   | 3 |   |   |   | 18 |   |   |
| Income before income taxes                                                                                                                                                                     |   |   | 1,704 |   |   |   | 81 |   |   |
| Income tax expense                                                                                                                                                                             |   |   | 489 |   |   |   | 23 |   |   |
|       Net income                                                                                                                                                 |   | $ | 1,215 |   |   |   | 58 |   |   |
|                                                                                                                                                                                           |   |   |   |   |   |   |   |   |   |
| Earnings per share - basic                                                                                                                                                                     |   | $ | 0.20 |   |   |   | 0.01 |   |   |
|                                                                                                                                                                                           |   |   |   |   |   |   |   |   |   |
| Earnings per share - diluted                                                                                                                                                                   |   | $ | 0.20 |   |   |   | 0.01 |   |   |
|                                                                                                                                                                                           |   |   |   |   |   |   |   |   |   |
| Shares outstanding - basic                                                                                                                                                                     |   |   | 5,890,828 |   |   |   | 5,890,828 |   |   |
|                                                                                                                                                                                           |   |   |   |   |   |   |   |   |   |
| Shares outstanding – diluted                                                                                                                                                             |   |   | 5,915,579 |   |   |   | 5,903,215 |   |   |

----

| TECHNOLOGY RESEARCH CORPORATION AND SUBSIDIARYCondensed Consolidated Statements of Cash Flows(Unaudited) (In thousands)                                                                                                                                                                                                                               Three Months Ended June 30, |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 2009 |   |   |   | 2008 |   |
| Cash flows from operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
|    Net income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $ | 1,215 |   |   |   | 58 |   |
|    Adjustments to reconcile net income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|    to net cash provided by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|    Accretion of interest on short-term investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |          (5 | ) |   |   |          (7 | ) |
|    Bad debt expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | - |   |   |   | 8 |   |
|    Accretion of interest on note receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | - |   |   |   | (12 | ) |
|    Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 275 |   |   |   | 299 |   |
|    Loss on disposal of property and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 143 |   |   |   | - |   |
|    Amortization of intangible assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 15 |   |   |   | 15 |   |
|    Stock compensation expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | 127 |   |   |   | 112 |   |
|    Deferred income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | (44 | ) |   |   | (73 | ) |
|    Changes in operating assets and liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
|       Trade and other accounts receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |  (407 | ) |   |   | 1,130 |   |
|       Inventories                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 961 |   |   |   | (147 | ) |
|       Prepaid expenses and other current assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | (65 | ) |   |   | (113 | ) |
|       Other assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | - |   |   |   | 8 |   |
|       Trade accounts payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 25 |   |   |   | (302 | ) |
|       Accrued expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |  (309 | ) |   |   |  (355 | ) |
|       Income taxes receivable and income taxes payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 533 |   |   |   | 97 |   |
|        Net cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 2,464 |   |   |   | 718 |   |
| Cash flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
|    Maturities of short-term investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 1,000 |   |   |   | 500 |   |
|    Purchase of short-term investments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | (2,995 | ) |   |   | (1,487 | ) |
|    Purchases of property and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |  (100 | ) |   |   | (148 | ) |
|        Net cash used in investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | (2,095 | ) |   |   | (1,135 | ) |
| Cash flows from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |
|    Cash dividends paid                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | (120 | ) |   |   | (118 | ) |
|       Net cash used in financing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | (120 | ) |   |   | (118 | ) |
| Net increase (decrease) in cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 249 |   |   |   | (535 | ) |
| Cash and cash equivalents at beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 2,954 |   |   |   | 2,132 |   |
| Cash and cash equivalents at end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $ | 3,203 |   |   |   | 1,597 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |

----

Notes to the Condensed Consolidated Financial Statements

|                                                             | Three months ended June 30, |
|------------------------------------------------------------------|----------------------------------|
|                                                             |                             |   |   |   |   |   |
|                                                             |                             |   | 2009 |   | 2008 |   |
| Reconciliation of undistributed earnings:                        |                             |   |   |   |   |   |
|   Net income available to common shareholders     |                             | $ | 1,215 |   | 58 |   |
|   Less: dividends on common stock                      |                             |   | 118 |   | 118 |   |
|   Less: dividends on unvested participating securities |                             |   | 2 |   | - |   |
|   Undistributed earnings (1)                           |                             | $  | 1,095 |   | (60 | ) |

|                                                                                                                   | Three months ended June 30, |
|------------------------------------------------------------------------------------------------------------------------|----------------------------------|
|                                                                                                                   |                             |   |   |   |   |   |
|                                                                                                                   |                             |   | 2009 |   | 2008 |   |
| Basic earnings per share computation:                                                                                  |                             |   |   |   |   |   |
| Net income available to common shareholders                                                                            |                             | $ | 1,215 |   | 58 |   |
| Less: dividend equivalents on unvested participating securities                                                        |                             |   | 2 |   | - |   |
| Less: undistributed earnings allocated to unvested participating securities (1)                                        |                             |   | 20 |   | - |   |
| Undistributed earnings allocated to common shareholders                                                                |                             |  $  | 1,193 |   | 58 |   |
|                  EPS Denominator: |                             |   |   |   |   |   |
| Weighted average shares outstanding for basic earnings per share                                                  |                             |   | 5,890,828 |                     | 5,890,828 |   |
| Basic earnings per common share                                                                                        |                             | $ | 0.20 |   | 0.01 |   |

|                                                                                                                   | Three months ended June 30, |
|------------------------------------------------------------------------------------------------------------------------|----------------------------------|
|                                                                                                                   |                             |   |   |   |   |   |
|                                                                                                                   |                             |   | 2009 |   | 2008 |   |
| Diluted earnings per common share computation:                                                                         |                             |   |   |   |   |   |
| Net income available to common shareholders                                                                            |                             | $ | 1,215 |   | 58 |   |
| Less: dividend equivalents on unvested participating securities                                                   |                             |   | 2 |   | - |   |
| Less: undistributed earnings allocated to unvested participating securities                                            |                             |   | 20 |   | - |   |
| Undistributed earnings allocated to common shareholders                                                                |                             |  $  | 1,193 |   | 58 |   |
|                  EPS Denominator: |                             |   |   |   |   |   |
| Weighted average shares outstanding for basic earnings per share                                                       |                             |   | 5,890,828 |   | 5,890,828 |   |
| Dilutive common shares issuable upon exercise of stock options (2)                                                     |                             |   | 3,848 |   | 12,387 |   |
| Dilutive unvested common shares associated with restricted stock awards awards                                         |                             |   |  20,903 |   | -   |   |
| Weighted average shares outstanding - diluted                                                                          |                             |   | 5,915,579 |   | 5,903,215 |   |
|                                                                                                                   |                             |   |    |   |    |   |
| Diluted earnings per common share                                                                                      |                             | $ | 0.20 |   | 0.01 |   |

| June 30, 2009   |   | March 31, 2009 |
|-----------------|--------|----------------|
|            |   |           |   |
|            |   |           |   |
| Raw materials   |   | $              | 4,803 |   |   |   | 5,084 |   |
| Work-in-process |   |           | 684 |   |   |   | 766 |   |
| Finished goods  |   |           | 1,565 |   |   |   | 2,163 |   |
| Total           |   | $              | 7,052 |   |   |   | 8,013 |   |
|            |   |           |   |

|                                |   | Three months ended June 30, |   |
|-------------------------------------|--------|-----------------------------|--------|
|                                |   |                        |   |   |   |   |
|                                |   | 2009                        |   |   | 2008 |   |
| Beginning balance                   |   | $                           | 164    |   |   |   | 137 |   |
|     Warranty expense |   |                        | 42     |   |   |   | 27 |   |
|     Warranty claims  |   |                        | (44    | )  |   |   | (27 | )  |
| Ending balance                      |   | $                           | 162    |   |   |   | 137 |   |

|                                                                          |   | Three months ended June 30, |   |
|-------------------------------------------------------------------------------|--------|-----------------------------|--------|
|                                                                          |   |                        |   |   |   |   |
|                                                                          |   | 2009                        |   |   | 2008 |   |
|                                                                          |   |                        |   |   |   |   |   |
| Beginning balance                                                             |   |                        | 127    |   |   | 12 |   |
|     Additions based on tax positions related to                |   |                        |   |   |   |   |   |
|            the current year |   |                        | -      |   |   | 1 |   |
|     Additions for tax positions of prior years                 |   |                        | 79     |   |   | - |   |
| Ending balance                                                                |   | $                           | 206    |   |   | 13 |   |

|                                       |   |                                                          |   |                                                          |   | Aggregate                                         |   | Weighted                                    |   | Weighted                                                      |   |
|--------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------------------|--------|---------------------------------------------------|--------|---------------------------------------------|--------|---------------------------------------------------------------|--------|
|                                       |   | Shares                                                        |   |                                                          |   | intrinsic                                         |   | average                                     |   | average                                                       |   |
|                                       |   |  available                                               |   | Options                                                       |   | value                                             |   | exercise                                    |   | remaining                                                     |   |
|                                       |   |  for grant                                               |   | outstanding                                                   |   | (in thousands)                                    |   | price                                       |   | contractual life                                              |   |
| Balance as of March 31, 2009     |   | 332,750                                                       |   |  955,586                                                 |   | $ 1                                               |   | $ 4.44                                      |   | 8.09                                                          |   |
|    Options expired          |   |           -      |   |           -      |   |   -                                     |   |        -      |   |     -                                     |   |
|    Options granted          |   |           - |   |           - |   |     -                    |   |        - |   |        -    |   |
|    Options canceled    |   | 14,058                                                        |   |     (14,058)                    |   |    -                          |   |   3.54                            |   |     -                                          |   |
|    Options exercised        |   |           -           |   |           - |   |      -    |   |        -      |   |     -                                          |   |
| Balance as of June 30, 2009           |   | 346,808                                                       |   |  941,528                                                 |   | $   94                             |   | $ 4.45                                      |   | 7.72                                                          |   |
| Exercisable as of June 30, 2009  |   |                                                          |   | 428,375                                                       |   | $   12                                  |   | $ 6.68                                      |   | 6.29                                                          |   |
| _________________                     |   |                                                          |   |                                                          |   |                                              |   |                                        |   |                                                          |   |

|                                                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                      |
|-----------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|
|                                                            |   |                                Three months ended                                          June 30,  |   |                                      |   |   |
|                                                            |   |      2009                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |       2008  |   |   |   |   |   |   |
| Weighted-average expected dividend yield                   |   | N/A                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2.25%                                     |   |   |   |   |   |   |
|     Weight-average risk free interest rate  |   | N/A                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 3.15%                                     |   |   |   |   |   |   |
| Weighted-average expected volatility                       |   | N/A                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 80.51%                                    |   |   |   |   |   |   |
| Weighted-average expected life                             |   | N/A                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 7.38 years                                |   |   |   |   |   |   |

|                                         |   |    |   | Weighted-average |   |
|----------------------------------------------|--------|---------|--------|------------------|--------|
|                                         |   |    |   | Grant-Date       |   |
|                                         |   | Shares  |   | Fair Value       |   |
| Non-vested balance at March 31, 2009         |   | 106,999 |   | $ 1.75           |   |
|    Restricted stock granted   |   | -       |   |             |   |
|    Restricted stock vested    |   | -       |   |             |   |
|    Restricted stock forfeited |   | -       |   |             |   |
| Non-vested balance as of June 30, 2009  |   | 106,999 |   | $ 1.75           |   |

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 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. |   |

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SIGNATURES

|                 | TECHNOLOGY RESEARCH CORPORATION                                                                                                                                                                                                                    |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                               |
| August 6, 2009       | By:   /s/ Owen Farren                                                                                                                                                                                                          |
|                 |         Owen Farren                                                                                                                                                                                        |
|                 |         President and Chief Executive Officer                                                                                                                                                              |
|                 |         (Principal Executive Officer)                                                                                                                                                                           |
|                 |
|                 |
| August 6, 2009  | By:   /s/ Thomas G. Archbold                                   |
|                 |         Thomas G. Archbold                                                                                                                                                                                 |
|                 |         Chief Financial Officer                                                                                                                                                                                 |
|                 |         (Principal Financial and Accounting Officer)                                                                                                                                                            |

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