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

                                   FORM 10-Q


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



For the quarterly period ended September 30, 1996

Commission File Number:  0-13763



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


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


5250 140th Avenue North, Clearwater, Florida                           34620
____________________________________________________________________________
(Address of principal executive offices)                           (Zip Code)



Registrant's telephone number, including area code  (813) 535-0572



Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for a shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

                         YES [X]          NO [ ]

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


            Class                              Outstanding at July 31, 1996
____________________________                   ____________________________
Common stock, $.51 par value                            5,318,902



                     TECHNOLOGY RESEARCH CORPORATION

                                 INDEX


Part I - Financial Information                                    Page

Condensed Balance Sheets--September 30, 1996 and March 31, 1996.... 1

Condensed Statements of Income--Three months and six months ended
     September 30, 1996 and September 30, 1995..................... 2

Condensed Statements of Cash Flows--Six months ended
     September 30, 1996 and September 30, 1995..................... 3

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

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


Part II - Other Information


Item 1 - Legal Proceedings......................................... 7

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

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


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




























<TABLE>
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                        TECHNOLOGY RESEARCH CORPORATION
                           CONDENSED BALANCE SHEETS
<CAPTION>
                                               September 30    March 31
                                                   1996          1996
                                               ------------    ---------
                 ASSETS                         (unaudited)       *
<S>                                          <C>            <C>
Current assets:
  Cash and cash equivalents                  $     164,136       341,601
  Short term investments                         4,083,660     4,084,698
  Accounts receivable, net                       2,190,381     2,607,152
  Inventories:
    Raw material                                 3,828,357     3,423,236
    Work in process                                923,949       945,795
    Finished goods                                 723,137       857,731
                                                ----------    ----------
      Total inventories                          5,475,443     5,226,762
  Prepaid expenses                                 203,667        94,205
  Deferred income taxes                            417,000       445,000
                                                ----------    ----------
      Total current assets                      12,534,287    12,799,418
                                                ----------    ----------
Property, plant, and equipment                   6,296,915     6,120,341
  Less accumulated depreciation                 (3,946,167)   (3,698,692)
                                                ----------    ----------
      Net property, plant, and equipment         2,350,748     2,421,649
                                                ----------    ----------
Deferred income taxes                              127,343       159,000
Other assets                                         2,060           523
                                                ----------    ----------
                                              $ 15,015,438    15,380,590
                                                ==========    ==========






















        LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Current installments of long-term debt      $     75,000        75,000
  Accounts payable                               1,109,714     1,236,591
  Accrued expenses                                 222,577       219,044
  Dividends payable                                345,141       336,052
  Income taxes payable                              51,918           991
                                                ----------    ----------
     Total current liabilities                   1,804,350     1,867,678
Long-term debt, excluding current installments     243,850       281,350
                                                ----------    ----------
     Total liabilities                           2,048,200     2,149,028
                                                ----------    ----------
Stockholders' equity:
  Common stock                                   2,712,640     2,712,437
  Additional paid-in capital                     7,410,551     7,410,754
  Retained earnings                              2,843,047     3,108,371
                                                ----------    ----------
     Total stockholders' equity                 12,966,238    13,231,562
                                                ----------    ----------
                                              $ 15,014,438    15,380,590
                                                ==========    ==========

<FN>
<F1>
* The balance sheet as of March 31, 1996 has been summarized
  from the Company's audited balance sheet as of that date.
<F2>
See accompanying notes to condensed financial statements.
</FN>
</TABLE>



























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

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

                                         1996        1995        1996        1995
                                      ----------  ----------  ----------  ----------

Operating revenues:
<S>                                <C>            <C>         <C>         <C>
  Net sales                        $   3,551,235   4,171,788   6,830,572   8,415,818
  Royalties                              137,692     213,797     235,822     385,757
                                      ----------  ----------  ----------  ----------
                                       3,688,927   4,385,585   7,066,394   8,801,575
                                      ----------  ----------  ----------  ----------
Operating expenses:
  Cost of sales                        2,361,474   2,780,050   4,666,405   5,376,077
  Selling, general, and administrative   776,381     705,430   1,512,243   1,344,151
  Research, development and engineering  295,573     255,029     573,706     485,270
                                      ----------  ----------  ----------  ----------
                                       3,433,428   3,740,509   6,752,354   7,205,498
                                      ----------  ----------  ----------  ----------
    Operating income                     255,499     645,076     314,040   1,596,077
                                      ----------  ----------  ----------  ----------
Other income (deductions):
  Interest and sundry income              58,123      68,633     113,585     138,197
  Interest expense                        (8,579)    (11,578)    (17,555)    (22,473)
                                      ----------  ----------  ----------  ----------
                                          49,544      57,055      96,030     115,724
                                      ----------  ----------  ----------  ----------
       Income before income taxes        305,043     702,131     410,070   1,711,801
Income taxes                               3,126     247,000      37,126     626,814
                                      ----------  ----------  ----------  ----------
       Net income                  $     301,917     455,131     372,944   1,084,987
                                      ==========  ==========  ==========  ==========
Earnings per share                 $        0.06        0.08        0.07        0.20
                                      ==========  ==========  ===========  =========

Weighted average number of common
  and equivalent shares outstanding    5,432,392   5,392,499   5,418,696   5,383,817
                                      ==========  ==========  ==========  ==========

Dividend declared per share        $        0.06       0.06         0.12        0.12
                                      ==========  ==========  ==========  ==========


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






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

                                                      1996        1995
                                                   ----------  ----------

Cash flows from operating activities:
<S>                                             <C>            <C>
  Net income                                    $     372,944   1,084,987

  Adjustments to reconcile net income to net cash
    provided by operating activities:
      Accretion of interest                          (106,814)   (104,998)
      Depreciation                                    247,475     233,295
      Decrease in accounts receivable                 416,771     673,058
      Decrease(increase) in inventories              (248,681)   (622,776)
      Increase in prepaid expenses                   (109,462)    (60,497)
      Decrease in deferred income taxes                59,657      32,000
      Decrease in other assets                         (1,537)     52,812
      Decrease in accounts payable                   (126,877)   (338,561)
      Increase in accrued expenses                      3,533      44,896
      Increase(decrease) in income taxes payable       50,927     (85,491)
                                                   ----------  ----------
        Net cash provided by operating activities     557,936     908,725
                                                   ----------  ----------

Cash flows from investing activities:
  Maturities of short-term investments             (3,001,148) (2,957,884)
  Purchase of short-term investments                3,109,000   1,803,000
  Capital expenditures                               (176,574)   (354,821)
                                                   ----------  ----------
        Net cash used in investing activities         (68,722) (1,509,705)
                                                   ----------  ----------

Cash flows from financing activities:
  Principal payments on long-term debt                (37,500)    (37,500)
  Proceeds from exercise of stock options               -          58,013
  Dividends paid                                     (629,179)   (316,890)
                                                   ----------  ----------

        Net cash provided by(used in)
            financing activities                     (666,679)   (296,377)
                                                   ----------  ----------
Decrease in cash and cash equivalents                (177,465)   (897,357)

Cash and cash equivalents at beginning of period      341,601   1,707,930
                                                   ----------  ----------
Cash and cash equivalents at end of period      $     164,136     810,573
                                                   ==========  ==========

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

                                    - 3 -
                       TECHNOLOGY RESEARCH CORPORATION

                   NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  (unaudited)



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

    The results of operations for the six-month period ended September 
    30, 1996, are not necessarily indicative of the results to be 
    expected for the full year. 

2.  Short-term investments consist of U.S. Treasury Bills with a 
    purchased maturity of greater than three months. 

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



































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


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

Current Six Months Ended September 30, 1996 versus Six Months Ended
September 30, 1995

Operating revenues (net sales and royalties) for the second quarter ended 
September 30, 1996 were $3,688,927, compared to $4,385,585 reported in the 
same quarter of the prior year, a decrease of approximately 16%. Net income 
for the current quarter was $301,917, compared to $455,131, for the prior 
year's quarter, a decrease of approximately 34%.  The earnings per share for 
the current period were $.06 per share as compared to $.08 for the comparable 
period last year.

Operating revenues (net sales and royalties) for the six-month period ended 
September 30, 1996 were $7,066,394, compared to $8,801,575 reported in the 
same period for the prior year, a decrease of approximately 20%. Net income 
for the six-month period was $372,944, compared to $1,084,987, for the same 
period in the prior year, a decrease of approximately 66%.  The earnings per 
share for the six-month period were $.07 per share as compared to $.20 for 
the comparable period last year.

The lower revenues were due to commercial sales being down $844,550 over the 
prior six-month period while military sales showed a decrease of $740,695.  
Royalty income was down by $149,936.  The reduction in commercial sales was 
evenly distributed over sales to Xerox and to the sprayer/washer and OEM 
markets. The Company expects sales to Xerox and its OEM market to stabilize 
and increase as the fiscal year progresses, but the Company does not 
anticipate increased sales to the sprayer/washer market, as UL has not 
commented on when enforcement will begin for the change in the National 
Electric Code requiring attached GFCI protection for these products.  
Military product shipments continue to be impacted by the transition period 
from the previous to the new Tactical Quiet (TQ) Generator Systems Program 
contract; however, the Company has now received firm releases from the prime 
contractor.  The Company began shipping limited product under the new contract 
in the current quarter, but full production is not expected until the fourth 
quarter.  The new contract covers approximately a two-year period with a total 
expected value of $4,900,000.  Royalty income was down, as expected, due to 
less royalties from Windmere Corporation.

The Company believes that revenues and profits will continue to improve as the 
fiscal year progresses; however, revenues from "Fire Shield" and TRC Consumer 
Marketing will be needed, in addition to the Company's existing business, to 
achieve growth over Fiscal Year 1996.  The Company continues to actively 
promote the "Fire Shield" line of appliance cords and extension cords to the 
market. The "Fire Shield" extension cords are currently being sold through TRC 
Consumer Marketing and TRC Distribution in modest quantities; however, the 






                                     - 5 -
Company has yet to receive significant orders for this product.  The Company 
also continues to develop a direct consumer sales initiative through the use 
of independent distributors that specialize in selling products directly to 
the household consumer.  The Company expects modest sales can be achieved 
through this marketing strategy beginning in the third and fourth quarters of 
Fiscal Year 1997.  The Company expensed over $250,000 in the "Fire Shield" and 
TRC Consumer Marketing programs in the first six months of the current fiscal 
year, and the Company will continue to invest in these programs in expectation 
of significant revenues being generated from them in the future.  In addition, 
the Company will increase its expenses for sales and marketing in the OEM and 
TRC Distribution areas as they also represent opportunity for revenue growth.

Cost of sales was approximately 66% of net sales for the current quarter and 
approximately 68% of net sales for the six-month period ended September 30, 
1996, compared to 67% and 64% for the same periods last year.  The Company 
expects cost of sales as a percent of sales to continue to remain stable 
throughout the fiscal year.  The labor inefficiencies experienced in the first 
quarter of Fiscal Year 1997 are correcting themselves as the Company ramps up 
production for the TQ Generator Systems Program.  The Company has given Xerox 
Corporation another price reduction, effective October 1, 1996; however, Xerox 
and its suppliers will start receiving product directly from China resulting 
in lower duty, freight and packaging costs to the Company, thus offsetting, in 
part, the effect of the price reduction.  The Company, historically, has been 
successful in offsetting price reduction with product cost reduction in order 
to maintain acceptable margins with Xerox Corporation.

Selling, general and administrative expenses for the current quarter were 
$776,381 and $1,512,243 for the six-month period ended September 30, 1996, 
compared to $705,430 and $1,344,151 in the same periods last year, an increase 
of approximately 10% and 13%, respectively.  Selling expenses were $481,654 for
the current quarter and $993,760 for the six-month period ended September 30, 
1996, compared to $432,604 and $871,136 in the same period last year, an 
increase of approximately 11% and 14%, respectively, reflecting expenses 
related to the "Fire Shield" and TRC Consumer Marketing programs.  General and 
administrative expenses were $294,727 for the current quarter and $518,483 for 
the six-month period ended September 30, 1996, compared to $272,826 and 
$473,015 in the same periods last year, an increase of approximately 11% and 
10%, respectively, reflecting higher salary, employee relation and shareholder 
relation expenses.

Research, development and engineering expenses for the current quarter were 
$295,573 and $573,706 for the six-month period ended September 30, 1996, 
compared to $255,029 and $485,270 for the same periods in the prior year, an 
increase of approximately 16% and 18%, respectively, reflecting higher salary 
related expenses.

Interest and sundry income, net of interest expense, for the current quarter 
was $49,544 and $96,030 for the six-month period ended September 30, 1996, 
compared to $57,055 and $115,724 for the same periods last year, reflecting 
lower returns on the Company's short-term investments.









                                     - 6 -
On August 20, 1996, the Company received a favorable ruling from the State of 
Florida regarding apportionment factors for state income tax purposes.  As a 
result of this ruling, the Company is amending previously filed state income 
tax returns.  Accordingly, the Company recorded a $240,000 state income tax 
credit, net of federal income taxes and adjustments in deferred taxes of 
$110,000, in the current quarter related to state income taxes paid in Fiscal 
Years 1993, 1994, 1995 and 1996.  As long as the Company maintains "nexus" 
(doing business) outside the State of Florida, the Company's apportionment 
factors will result in a lower effective income tax rate.


Liquidity and Capital Resources

As of September 30, 1996, the Company's cash and cash equivalents decreased to 
$164,136 from the March 31, 1996 total of $341,601, and short term investments 
were $4,083,660, compared to the March 31, 1996 total of $4,084,698.  The 
short term investments are comprised of U.S. Treasury Bills.

On August 22, 1995, the Company's institutional lender renewed its commercial 
line of credit at $2,500,000 and extended the maturity date to August 15, 1997.
The lender continues to give the Company the option of borrowing at the 
lender's prime rate of interest or the 30 day London Interbank Offering 
Rate(L.I.B.O.R.) plus 200 basis points.  The lender also continues to make 
available a Banker's Acceptance agreement which gives the Company the option 
of borrowing up to $750,000 under the line of credit with the interest rate 
being determined by the lender's International Division at the time of 
borrowing.  The Company did not use its line of credit in the current period, 
and the mortgage payable to the Company's institutional lender as of June 30, 
1996 was $318,850, compared to $356,350 at March 31, 1996.

The Company's working capital decreased by $201,803 to $10,729,937 at 
September 30, 1996, compared to $10,931,740 at March 31, 1996.  The Company 
believes that its cash flow from operations, the available bank line, and its 
current cash position will be sufficient to meet its working capital 
requirements for the immediate future.

The second quarter dividend of $.06 per share was paid on October 15, 1996 to 
shareholders of record on September 30, 1996.


Part II - Other Information


Item 1.  Legal Proceedings

In March 1995, the Company, along with seven other defendants, was sued in 
Harris County, Texas.  The suit claims, among other things, that the Company's 
GFCI product was defectively designed and manufactured and caused the death by 
electrocution of an individual.  The parties to the lawsuit have agreed to an 
"out of court" settlement subject to final review and approval by the Court.  
The Company's product liability insurance will cover the settlement cost.








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

At the Company's annual meeting of shareholders held on August 22, 1996, the 
following matters were submitted for a vote by the shareholders:

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

                                  VOTES FOR   VOTES AGAINST
                                  ---------   -------------
         Robert S. Wiggins        4,666,266         168,539
         Raymond H. Legatti       4,668,100         166,705
         Raymond B. Wood          4,668,033         166,772
         Edmund F. Murphy, Jr.    4,666,133         168,672
         Jerry T. Kendall         4,667,399         167,406


     2.  To ratify the selection by the Company's Board of Directors of KPMG 
         Peat Marwick LLP, Certified Public Accountants, as independent 
         auditors of the Company for its fiscal year ending March 31, 1997.

                                  VOTES FOR   VOTES AGAINST   VOTES ABSTAINED
                                  ---------   -------------   ---------------
         To ratify auditors       4,730,148           7,463            34,523


     3.  To consider and vote upon a proposal to adopt the 1996 Stock Option 
         Performance Plan.

                                  VOTES FOR   VOTES AGAINST   VOTES ABSTAINED
                                  ---------   -------------   ---------------
         To approve plan          2,474,587         390,836           169,508


Item 6.  Exhibits and Reports on Form 8-K

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





















                                     - 8 -
                 ___________________________________________


                                SIGNATURES


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


                              TECHNOLOGY RESEARCH CORPORATION
                                       (registrant)



     November 1, 1996         Scott J. Loucks
___________________________   __________________________________
          Date                Scott J. Loucks
                              Chief Financial Officer,
                              (principal financial, accounting and
                              Duly Authorized Officer)





































                                     - 9 -