<PAGE>

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

                                    FORM 10-Q

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



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

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

--------------------------------------------------------------------------------

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



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

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


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


           CLASS                                      OUTSTANDING AT AUG 2, 2001

Common Stock $.01 Par Value                                    3,139,750

                                       1
<PAGE>

Part I
ITEM 1. FINANCIAL STATEMENTS

                               AMISTAR CORPORATION
                            Condensed Balance Sheets
                          (Unaudited and in thousands)

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

ASSETS
Current assets:
   Cash and cash equivalents                              $ 3,168       $ 4,519
   Trade accounts and contracts receivable, net             1,896         2,899
   Inventories                                              3,877         3,079
   Demonstration equipment                                    107           113
   Prepaid expenses                                           117           195
                                                          --------      --------
     Total current assets                                   9,165        10,805

Property and equipment, net                                 4,683         4,869
Restricted cash                                             1,329         1,329
Other assets                                                   93           103
                                                          --------      --------

                                                          $15,270       $17,106
                                                          ========      ========

LIABILITIES & SHAREHOLDERS' EQUITY
Current liabilities:
   Accounts payable                                       $   370       $   590
   Accrued liabilities                                        603           591
                                                          --------      --------
      Total current liabilities                               973         1,181
                                                          --------      --------

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

Shareholders' equity:
  Common stock                                                 31            31
  Additional paid-in capital                                4,593         4,589
  Retained earnings                                         5,173         6,805
                                                          --------      --------
     Total shareholders' equity                             9,797        11,425
                                                          --------      --------

                                                          $15,270       $17,106
                                                          ========      ========

SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS.

                                       2
<PAGE>
<TABLE>

                                    AMISTAR CORPORATION
                            Condensed Statements of Operations
                    (Unaudited and In thousands, except per share data)

<CAPTION>

                                         Three months ended         Six months ended
                                              June 30,                   June 30,
                                         2001          2000         2001         2000
                                       --------      --------     --------      --------
<S>                                    <C>           <C>          <C>           <C>
Net sales                              $ 3,399       $ 5,471      $ 7,078       $10,246

Cost of sales                            3,502         4,057        6,800         7,704
                                       --------      --------     --------      --------

Gross profit (loss)                       (103)        1,414          278         2,542

Operating expenses:
  Selling                                  323           477          745         1,032
  General and administrative               290           334          594           601
  Research and development                 257           263          605           531
                                       --------      --------     --------      --------
                                           870         1,074        1,944         2,164
                                       --------      --------     --------      --------

Earnings (loss) from operations           (973)          340       (1,666)          378

Other income, net                           19            38           38            62
                                       --------      --------     --------      --------

Earnings (loss) before
     income taxes                         (954)          378       (1,628)          440

Income taxes                                 2             -            4             -
                                       --------      --------     --------      --------

Net earnings (loss)                    $  (956)      $   378      $(1,632)      $   440
                                       ========      ========     ========      ========

Earnings (loss) per common share-
   basic and diluted                   $ (0.30)      $  0.12      $ (0.52)      $  0.14
                                       ========      ========     ========      ========

Weighted average shares
   outstanding-basic and diluted         3,140         3,137        3,139         3,137
                                       ========      ========     ========      ========

</TABLE>

SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS.

                                            3
<PAGE>

                               AMISTAR CORPORATION
                            Statements of Cash Flows
                          (Unaudited and in thousands)

Six months ended June 30,                                    2001        2000
--------------------------------------------------------------------------------

Cash flows from operating activities:
  Net earnings (loss)                                       $(1,632)    $   440
  Adjustments to reconcile net earnings (loss) to
  net cash provided by (used in) operating activities:
    Depreciation and amortization                               360         371
    Changes in assets and liabilities:
      Trade accounts and contracts receivable, net            1,003        (334)
      Inventories                                              (798)        317
      Demonstration equipment                                     6         (57)
      Prepaid expenses and other assets                          88         (56)
      Accounts payable and accrued liabilities                 (208)         76
                                                            --------    --------

Net cash provided by (used in) operating activities          (1,181)        757
                                                            --------    --------

Cash flows from investing activities-
  purchase of property and equipment                           (174)        (85)
                                                            --------    --------

Cash flows from financing activities-
  exercise of stock options                                       4           -
                                                            --------    --------

Net increase (decrease) in cash and cash equivalents         (1,351)        672
                                                            --------    --------
Cash and cash equivalents, beginning of period                4,519       2,476
                                                            --------    --------
Cash and cash equivalents, end of period                    $ 3,168     $ 3,148
                                                            ========    ========

Supplemental disclosure of cash flow information-

   Cash paid during the period for:
       Interest                                             $    84     $    88
       Income taxes                                         $     6     $     3


SEE ACCOMPANYING NOTES TO CONDENSED FINANCIAL STATEMENTS

                                       4
<PAGE>

                               AMISTAR CORPORATION
                     Notes to Condensed Financial Statements
                                   (Unaudited)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

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


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

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

                                                   June 30,           Dec. 31,
                                                     2001               2000
                                                   -------             -------
Raw Material                                       $1,785              $1,418
Work In Process                                     1,022                 812
Finished Goods                                      1,070                 849
                                                   -------             -------
                                                   $3,877              $3,079
                                                   =======             =======

                                       5
<PAGE>

                               AMISTAR CORPORATION
                     Notes to Condensed Financial Statements


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

    The Company calculates net earnings per share in accordance with SFAS No.
128, Earnings Per Share. Under SFAS No. 128, basic net earnings per common share
is calculated by dividing net earnings by the weighted-average number of common
shares outstanding during the reporting period. Diluted net earnings per common
share reflects the effects of potentially dilutive securities. Weighted average
shares used to compute net earnings (loss) per share are presented below (in
thousands):

<TABLE>
<CAPTION>

                                           Three months ended                Six months ended
                                                 June 30,                         June 30,
                                          2001            2000             2001             2000
                                     --------------- ---------------   --------------  ---------------
 <S>                                          <C>             <C>              <C>              <C>
 Weighted-average shares basic                3,140           3,137            3,139            3,137

 Dilutive effect of stock options                 -               -                -                -
                                     --------------- ---------------   --------------  ---------------

 Weighted-average shares, diluted             3,140           3,137            3,139            3,137
                                     =============== ===============   ==============  ===============

</TABLE>

    Options to purchase 103,000 and 175,000 shares of potentially dilutive
common stock were excluded from the calculation of diluted net loss per share
for the three and six months ended June 30, 2001, respectively, because the
effects of these instruments were anti-dilutive.

                                       6
<PAGE>

                               AMISTAR CORPORATION
               Notes to Condensed Financial Statements, Continued

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

     The following table summarizes the Company's two operating segments:
Machine Sales and Service, which encompass the manufacture and distribution of
assembly machines and related accessories, and Amistar Manufacturing Services
(AMS). The Company identifies reportable segments based on the unique nature of
operating activities, customer base and marketing channels. Information is also
provided by major geographical area.

<TABLE>
<CAPTION>
                                                MACHINE SALES AND SERVICE
                                         -------------------------------------
                                           UNITED                                   MFG.
                                           STATES       FOREIGN       TOTAL       SERVICES    CORPORATE      TOTAL
-------------------------------------------------------------------------------------------------------  -------------
 <S>                                     <C>          <C>          <C>          <C>          <C>         <C>
 Three months ended June 30, 2001

 Net sales                               $      362   $        20  $      382   $     3,017  $       -   $      3,399
                                         ===========  ============ ===========  ============ ==========  =============
 Depreciation and amortization                   37             -          37           136          -            173
                                         ===========  ============ ===========  ============ ==========  =============
 Earnings (loss) from operations               (438)          (24)       (462)         (511)         -           (973)
                                         ===========  ============ ===========  ============ ==========  =============
 Total assets                                 5,454             -       5,454         5,043      4,773         15,270
                                         ===========  ============ ===========  ============ ==========  =============
 Additions to long-lived assets                   -             -           -            25          -             25
                                         ===========  ============ ===========  ============ ==========  =============

 THREE MONTHS ENDED JUNE 30, 2000

 Net sales                               $    2,645   $       284  $    2,929   $     2,542  $       -   $      5,471
                                         ===========  ============ ===========  ============ ==========  =============
 Depreciation and amortization                   74             -          74           109          -            183
                                         ===========  ============ ===========  ============ ==========  =============
 Earnings (loss) from operations                479            82         561          (221)         -            340
                                         ===========  ============ ===========  ============ ==========  =============
 Total assets                                 4,876           742       5,618         2,643      8,542         16,803
                                         ===========  ============ ===========  ============ ==========  =============
 Additions to long-lived assets                  31             -          31            15          -             46
                                         ===========  ============ ===========  ============ ==========  =============

 SIX MONTHS ENDED JUNE 30, 2001

 Net sales                               $    1,205   $       102  $    1,307   $     5,771  $       -   $      7,078
                                         ===========  ============ ===========  ============ ==========  =============
 Depreciation and amortization                   95             -          95           265          -            360
                                         ===========  ============ ===========  ============ ==========  =============
 Earnings (loss) from operations               (907)          (70)       (977)         (689)         -         (1,666)
                                         ===========  ============ ===========  ============ ==========  =============
 Additions to long-lived assets                   -             -           -           174          -            174
                                         ===========  ============ ===========  ============ ==========  =============

 SIX MONTHS ENDED JUNE 30, 2000

 Net sales                               $    4,954   $     1,014  $    5,968   $     4,278  $       -   $     10,246
                                         ===========  ============ ===========  ============ ==========  =============
 Depreciation and amortization                  150             -         150           221          -            371
                                         ===========  ============ ===========  ============ ==========  =============
 Earnings (loss) from operations                634           129         763          (385)         -            378
                                         ===========  ============ ===========  ============ ==========  =============
 Additions to long-lived assets                  60             -          60            25          -             85
                                         ===========  ============ ===========  ============ ==========  =============
</TABLE>

                                                           7
<PAGE>

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

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

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

                              RESULTS OF OPERATIONS

Net Sales
---------

    Net sales for the three months ended June 30, 2001 were $3,399,000 compared
to $5,471,000 for the same period in the prior year. Continuing soft demand for
capital equipment in the electronics industry has resulted in lackluster machine
division sales in the current year. Responding to the industry slow-down earlier
in the year, several of the Company's largest machine customers have continued
their freeze on capital expenditures.

    The Amistar Manufacturing Services division (AMS) sales grew 19% and 35% for
the three and six months ended June 30, 2001, respectively, over the same
periods of 2000 primarily due to increased orders from existing customers. The
increased AMS orders were primarily from the Company's base of medical equipment
product customers. During the current year, certain electronic components that
were formerly in limited supply during much of 2000 became more readily
available.

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

    Gross profit declined during the quarter ended June 2001 from the same
period in 2000, due to lower machine sales, higher machine division
manufacturing costs and due to the change in sales mix between machine and
contract assembly sales. Contract assembly sales generally have much lower gross
margins than machine sales. During the current quarter, contract assembly sales
represented 89% of total sales, compared to the same quarter in 2000 where
contract assembly sales represented 46% of total sales. In addition, several AMS
manufacturing personnel additions were made in the current quarter to improve
customer service and to support future growth.

                                       8
<PAGE>

                               AMISTAR CORPORATION
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS, continued

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

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

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

    General and administrative expenses decreased in the current quarter and
six-month period over the same periods in 2000, primarily due to the accrual of
incentive compensation in the second quarter of 2000, which did not recur in
2001.

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

    Development efforts were focused during the six months ended 2001 on
completion of the DataPlace(R) 1M product identification machine. In addition,
the engineering group began work on a contract design services order from a new
customer in the second quarter of 2001.

Income Tax Expense
------------------

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

                         LIQUIDITY AND CAPITAL RESOURCES

    The Company's cash used in operating activities was $1,181,000 for the six
months ended June 30, 2001. Trade accounts and contracts receivable decreased
primarily due to the lower sales level and due to a reduction in the days
outstanding. Inventories increased due to the decline in machine sales relative
to the Company's production plan. In addition, inventories increased due to the
conversion of a major AMS customer from a consignment to turnkey contract and to
support increased AMS sales. The Company has taken advantage of increased early
pay discounts offered by electronic suppliers in the current year, resulting in
decreased accounts payable. Capital expenditures in the current quarter
primarily consisted of AMS production equipment for increased capacity.

    The Company maintains a letter of credit from its' bank in support of the
$4,500,000 industrial development bonds.

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

                                       9
<PAGE>

                               AMISTAR CORPORATION
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS, continued

Item 3. Quantitative and Qualitative Disclosures about Market Risk

    The Company is exposed to a variety of risks, including changes in interest
rates affecting the cost of its debt. The Company's long-term debt at June 30,
2001 is comprised of $4,500,000 Industrial Development bonds. The bonds mature
in December 2005, and accrue interest at a variable monthly rate. Interest was
paid at a weighted-average variable rate of 3.20% during the quarter ending June
30, 2001. An immediate 10% increase in the weighted-average interest rate would
not have a material impact on the Company's financial position or results of
operations.

                                       10
<PAGE>

PART II.

Items 1-5 Non-Applicable



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



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

                                                     AMISTAR CORPORATION


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

                                       11