SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                   FORM 10-QSB


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



For Quarter Ended March 31, 2004                   Commission File Number 0-7475
--------------------------------                   -----------------------------

                            PHOTO CONTROL CORPORATION
                            -------------------------
             (Exact Name of Registrant as Specified in its Charter)


Minnesota                                                     41-0831186
---------                                                     ----------
(State or Other Jurisdiction of                              (I.R.S. Employer
 Incorporation or Organization)                              Identification No.)


4800 Quebec Avenue North, Minneapolis, Minnesota                 55428
------------------------------------------------                 -----
  (Address of Principal Executive Offices)                     (Zip Code)


Registrant's Telephone Number  (763) 537-3601
                               --------------


--------------------------------------------------------------------------------
              (Former name, former address, and former fiscal year
                         if changes since last report.)


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 twelve 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 ___


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

                 Class                          Outstanding at May 3, 2004
      ----------------------------              --------------------------
      Common Stock, par value $.08                    1,720,163 Shares


                                       1
<PAGE>


                            PHOTO CONTROL CORPORATION
                                      INDEX
                              ---------------------


PART I                                                               Page Number
------                                                               -----------

     ITEM 1:   Financial Information

                  Balance Sheets -
                    March 31, 2004 and December 31, 2003                  3

                  Statements of Operations -
                    Three Months Ended March 31, 2004 and 2003            4

                  Statements of Cash Flows -
                    Three Months Ended March 31, 2004 and 2003            5

                  Notes to Financial Statements                           6

     ITEM 2:      Management's Discussion and Analysis
                    of Financial Condition and Results of
                    Operations                                            9

     ITEM 3:      Controls and Procedures                                12


PART II
-------

     ITEM 2:      Changes in Securities                                  12

     ITEM 5(b):   Other Information:
                  Director Nomination Process                            13


     ITEM 6:      Exhibits and Reports on Form 8-K                       13


                  Signatures                                             13




                                       2
<PAGE>


                                     PART I
                                     ------

ITEM 1: FINANCIAL INFORMATION

BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                (UNAUDITED)        (AUDITED)
                                                                  MARCH 31        DECEMBER 31
                                                                   2004              2003
                                                                -----------       -----------
                                     ASSETS
                                     ------
<S>                                                             <C>               <C>
Current Assets
--------------
   Cash                                                         $ 2,579,706       $ 3,509,930
   Accounts Receivable                                              516,695           192,812
   Inventories                                                    2,737,734         2,518,715
   Prepaid Expenses                                                  62,666           113,405
   Refundable Income Taxes                                           60,591            58,591
                                                                -----------       -----------
         Total Current Assets                                     5,957,392         6,393,453
                                                                -----------       -----------

Other Assets
------------
   Patent Right, Net of Amortization                              1,038,800         1,093,474
   Goodwill                                                         400,825
   Cash Value of Life Insurance                                     104,886           100,998
                                                                -----------       -----------
         Total Other Assets                                       1,544,511         1,194,472
                                                                -----------       -----------

Plant and Equipment
-------------------
   Land and Building                                              2,181,120         2,181,120
   Machinery and Equipment                                        2,573,790         2,514,784
   Accumulated Depreciation                                      (3,610,738)       (3,592,883)
                                                                -----------       -----------
         Total Plant and Equipment                                1,144,172         1,103,021
                                                                -----------       -----------

                                                                $ 8,646,075       $ 8,690,946
                                                                ===========       ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------

Current Liabilities
-------------------
   Purchase Contract                                            $   100,000       $
   Accounts Payable                                                 478,556           106,524
   Accrued Payroll and Employee Benefits                            188,922           143,696
   Accrued Expenses                                                 216,569           308,805
                                                                -----------       -----------
         Total Current Liabilities                                  984,047           559,025
                                                                -----------       -----------

Accrued Retirement Benefit                                          828,316           834,642
--------------------------                                      -----------       -----------

Stockholders' Equity
--------------------
   Common Stock                                                     137,613           128,333
   Additional Paid-In Capital                                     1,581,744         1,393,484
   Retained Earnings                                              5,114,355         5,775,462
                                                                -----------       -----------
         Total Stockholders' Equity                               6,833,712         7,297,279
                                                                -----------       -----------

                                                                $ 8,646,075       $ 8,690,946
                                                                ===========       ===========
</TABLE>

                 See accompanying notes to financial statements.

                                       3
<PAGE>

STATEMENTS OF OPERATIONS (UNAUDITED)

                                        THREE MONTHS ENDED MARCH 31
                                       -----------------------------
                                           2004              2003
                                       -----------       -----------

Net Sales                              $ 1,626,169       $ 1,471,200
Cost of Sales                            1,511,242         1,228,729
                                       -----------       -----------
  Gross Profit                             114,927           242,471

Expenses
   Marketing & Administrative              572,984           466,926
   Research, Development & Eng             203,050           206,118
                                       -----------       -----------

      Total Expenses                       776,034           673,044
                                       -----------       -----------

(Loss) Before Taxes                       (661,107)         (430,573)

Income Tax (Benefit)                                        (114,000)
                                       -----------       -----------

Net(Loss)                              $  (661,107)      $  (316,573)
                                       ===========       ===========

Net(Loss) Per Common
  Share - Basic                        $      (.39)      $      (.20)
                                       ===========       ===========
Net(Loss) Per Common
  Share - Diluted                      $      (.39)      $      (.20)
                                       ===========       ===========

Weighted Average Common Shares
  Outstanding - Basic and Diluted        1,698,163         1,604,163
                                       ===========       ===========

                 See accompanying notes to financial statements.

                                       4
<PAGE>

STATEMENTS OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>
                                                                   MARCH 31
                                                        -----------------------------
                                                            2004              2003
                                                        -----------       -----------
<S>                                                     <C>               <C>
Cash flows from operating activities:
     Net from operations                                $  (661,107)      $  (316,573)
     Items not affecting cash-
         Depreciation                                        45,000            60,000
         Deferred compensation                               12,000            12,000
         Amortization                                        54,674            44,331
         Provision for Obsolete Inventory                   260,000            36,293
         Loss on Sale of Assets                              33,556
     Change in:
         Receivables                                       (209,950)           75,178
         Inventories                                       (294,685)           30,675
         Prepaid Expenses                                    55,758            77,458
         Accounts Payable                                   294,057           (89,402)
         Accrued Expenses                                   (47,010)           63,172
         Accrued and Refundable Income Taxes                 (2,000)         (118,078)
         Deferred compensation                              (18,326)          (18,325)
                                                        -----------       -----------

                  Net Cash provided by (used in)
                   operating activities                    (478,033)         (143,271)
                                                        -----------       -----------

Cash flows from investing activities:
         Proceeds from Sale of Equipment                      8,916
         Additions to plant and equipment                   (68,204)          (22,776)
         Acquisition of Product Line                       (467,555)
         Additions to cash value of life insurance           (3,888)           (3,888)
                                                        -----------       -----------
                  Net cash provided by (used in)
                   investing activities                    (530,731)          (26,664)
                                                        -----------       -----------

Cash flow from financing activities:
         Proceeds from Exercise of Stock Options             78,540
         Payment on purchase contract                                         (75,040)
                                                        -----------       -----------

Change in cash and cash equivalent                         (930,224)         (244,975)
Beginning cash and cash equivalent                        3,509,930         3,520,622
                                                        -----------       -----------

Ending cash and cash equivalent                         $ 2,579,706       $ 3,275,647
                                                        ===========       ===========
</TABLE>

                 See accompanying notes to financial statements

                                       5
<PAGE>

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1

          Notes to financial statements presented herein do not include all the
          footnotes normally presented in the Company's annual report to
          stockholders.

          The accompanying financial statements reflect, in the opinion of
          management, all normal and recurring adjustments necessary to a fair
          presentation of financial position, results of operations, and cash
          flows for the interim periods. The results for interim periods are not
          necessarily indicative of results to be expected for the year.

NOTE 2

          Inventories are analyzed as follows:

                                          MARCH 31          DECEMBER 31
                                            2004               2003
                                        ----------           ----------

              Raw Materials             $1,115,142           $1,214,579

              Work in Progress             340,734               54,777

              Finished Goods             1,281,858            1,249,359
                                        ----------           ----------

                                        $2,737,734           $2,518,715
                                        ==========           ==========

NOTE 3

          Net Income(Loss) per common share is computed based on the weighted
          average number of common shares outstanding during the period when
          computing the basic earnings per share. When dilutive, stock options
          are included as equivalents using the Treasury Stock method when
          computing the diluted earnings per share.

NOTE 4

          The compensation cost based on the fair values of options at grant
          dates consistent with the provisions of SFAS No. 123, would be $47,031
          for the year ended December 31, 2004 and $.03 per share of common
          stock. For each quarter of 2004 the compensation cost would be
          approximately $11,800 and approximately $.01 per share of common
          stock.

                                       6
<PAGE>

NOTE 5 - PURCHASE OF ASSETS

          On January 5, 2004 the Company purchased all of the assets and rights
          for the Vaddio product line used in the video conferencing and
          presentation industry from Vaddio LLC and Rob Sheeley. The purchase
          price for these assets was $450,000 of cash, 50,000 shares of Photo
          Control common stock, the assumption of approximately $80,000 of
          liabilities and payment of certain legal fees and commissions.
          $350,000 of the cash price was paid at closing, $100,000 is due April
          30, 2004 and is included in March 31, 2004 balance sheets as a
          purchase contract current liability. Effective January 5, 2004, Rob
          Sheeley and the seven Vaddio employees became employees of Photo
          Control.

          Goodwill was incurred in this transaction because of the growth
          potential of the Vaddio products, the synergy of combining Vaddio with
          Photo Control and the diversification of Photo Control's product
          offerings. It is expected that goodwill will be deductible for tax
          purposes.

          The results of operations on an unaudited pro forma basis are not
          presented separately as the results do not differ significantly from
          historical amounts presented herein.

          The allocation of the Vaddio purchase price is as follows:

                    Accounts Receivable                 $113,933
                    Inventory                            184,334
                    Prepaid Assets                         5,019
                    Equipment                             60,419
                    Goodwill                             400,824
                                                        --------
                                                        $764,529
                                                        ========

          The 50,000 common shares issued were valued at $2.38 per share based
          on the closing price of the common stock as of January 5, 2004.

NOTE 6 - AMORTIZATION OF PATENT

          The Bookendz patent cost of $1,655,000 was being amortized over nine
          years which was based on the life of the patent. The remaining life of
          the patent is six years. Because of declining revenues from this
          product and potential future technology changes the patent
          amortization period has been reduced to five years on the remaining
          unamortized balance of $1,093,474 at January 1, 2004.

NOTE 7 - PROVISION FOR OBSOLETE INVENTORY

          Sales from film cameras have been declining over the last several
          years. It was anticipated that a certain sales level


                                       7
<PAGE>

          could be achieved in 2004 and 2005. Because order activity in 2004 has
          not met expectations the film camera was reviewed for obsolescence and
          an obsolescence charge of $200,000 for the three months ended March
          31, 2004 was provided for inventory that may become unsalable.

NOTE 8 - WARRANTY COSTS

          The Company warrants its products for one or two years. The warranty
          cost over the last two years has averaged $55,000 per year. At
          December 31, 2003 the reserve for warranty was $200,000. Based on a
          review of expected future warranty costs the reserve was reduced by
          $80,000 to $120,000 at March 31, 2004 based on the continuing decline
          in sales as noted above. The following summarizes the warranty
          transactions:

                                                MARCH 31, 2004    MARCH 31, 2003
                                                --------------    --------------
          Balance at Beginning of Year             $200,000          $200,000
          Claims Paid                                (8,612)          (12,027)
          Expense Provision                         (71,388)           12,027
                                                   --------          --------
          Balance at End of Period                 $120,000          $200,000
                                                   ========          ========

NOTE 9 - SUBSEQUENT EVENTS

          On April 15, 2004, Photo Control Corporation (Photo Control) and
          Nature Vision, Inc. (Nature Vision) reached an agreement to merge.
          Under the terms of the agreement, 1,788,585 shares of Photo Control
          common stock will be exchanged for all of the outstanding capital
          stock of Nature Vision, and 411,406 shares of Photo Control common
          stock will be reserved for issuance upon exercise of outstanding
          Nature Vision options and warrants. As a part of the proposed merger,
          Richard P. Kiphart, a director of Photo Control Corporation, has
          agreed to provide financing to Photo Control Corporation by purchasing
          $1,000,000 worth of Photo Control Corporation common stock. The
          proposed merger is subject to approval by the shareholders of both
          companies and other customary closing conditions.

          On April 15, 2004 Mr. Curtis Jackels', president of Photo Control,
          retention agreement was amended whereby he receives no additional
          benefits if there is a change in control. However, he will receive a
          severance benefit of four months salary, ownership of his current
          Company provided vehicle and paid health insurance of up to eighteen
          months upon termination of employment.

NOTE 10 - SEGMENT REPORTING

          The Company has three product lines, Bookendz docking stations for
          certain Apple computers, Vaddio video equipment used for video
          conferencing and presentations and photographic cameras and lighting
          equipment. All of the

                                        8
<PAGE>

          Bookendz and Vaddio operations, (sales and marketing, engineering,
          manufacturing and administration), are merged into Photo Control's
          structure. Accordingly, the only activity for Bookendz and Vaddio that
          are separately maintained are sales, cost of sales and the cost of its
          related assets. The following summarizes the Bookendz and Vaddio
          operations:

                                                            ASSETS
                                                   ------------------------
          Bookendz                                   3-31-04      12-31-03
                                                   ----------    ----------
                Unamortized Patent ..............  $1,038,800    $1,093,474
                Inventory .......................     212,029       165,416
                Tooling .........................      46,065        36,654
                                                   ----------    ----------
                   Total Bookendz ...............   1,296,894     1,295,544
                                                   ----------    ----------
          Vaddio
                Goodwill ........................     400,824
                Inventory .......................     353,680
                                                   ----------    ----------
                      Total Vaddio ..............     754,504             0
                                                   ----------    ----------
          Total Company .........................  $8,646,075    $8,690,946
                                                   ==========    ==========

                                                            SALES
                                                   ------------------------
                                                     3-31-04       3-31-03
                                                   ----------    ----------
          Bookendz ..............................     208,292       349,475
                                                   ----------    ----------
          Vaddio ................................     371,269
                                                   ----------    ----------
          Total Company .........................  $1,626,169    $1,471,200
                                                   ==========   ==========


ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

Sales for the first quarter ended March 31, 2004 were $1,626,000, an increase of
10.5% and $155,000 from the first quarter in 2003. The photographic products
sales decreased $75,000 which consisted of a camera product line sales decrease
of $186,000, a printer product line sales increase of $25,000, a flash equipment
product line sales increase of $133,000, and a Lindahl shades product line sales
decrease of $47,000. For the first quarter of 2003, $199,500 of digital cameras
were sold to one customer, however no digital cameras were sold to this customer
for the first quarter of 2004. This customer has reordered and it is expected
that shipment will begin in July 2004. The increased sales in the flash
equipment product line is due to an increase in sales of the monolights. The
monolight was a new product in 2003 with sales starting in the first quarter of
2003. The Bookendz dock product line sales decreased $141,000 during the first
quarter of

                                       9
<PAGE>

2004 compared to the first quarter of 2003. This decrease was the result of a
loss of distribution and not having certain models available for sale during the
whole quarter. Sales of the Vaddio product line, acquired on January 5, 2004
were $371,000. This product line is used for the video conferencing and
presentation markets. Management expects that Vaddio product sales will increase
in future periods.

The gross profit margin for the first quarter of 2004 decreased to 7.1% compared
to 16.4% from the first quarter of 2003. Gross margin varies depending upon the
volume of sales and the product mix. In the first quarter of 2004 an additional
provision for obsolescence over the first quarter of 2003 was made in the amount
of $224,000. Sales and orders of film camera equipment have not met expectations
and the inventory was reviewed for potential additional unsalable inventory. The
warranty reserve was reviewed based on the last two years actual warranty
expense and adjusted down by $80,000. In addition the product mix between the
lower photographic gross margin sales and the higher Bookendz gross margin sales
changed in 2004 compared to 2003.

Research, development and engineering expenses decreased by $3,000 and marketing
and administrative expenses increased $106,000 for the first quarter of 2004
compared to the first quarter of 2003. The increase in marketing and
administrative expense reflects increased sales and marketing activity for the
new Vaddio line. Four of the seven Vaddio personnel hired are employed in
marketing and administrative. Also promotion and tradeshow activity increased
for the Vaddio line.

LIQUIDITY & CAPITAL RESOURCES
Cash decreased by $930,000 to $2,579,000 since December 31, 2003. This cash
decrease for the quarter was due to $478,000 of negative cash flow from
operations, $68,000 of capital equipment expenditures and $468,000 for the
purchase of the Vaddio product line. At March 31, 2004 there was no borrowing
under the line of credit. The line expires on June 30, 2004.

The Company believes that its cash flow from future operations and available
borrowing capacity will be sufficient to finance operations and capital
requirements. However, if losses continue into the future, there is no
assurances that additional cash and borrowings will be available to the Company.

CRITICAL ACCOUNTING POLICIES
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect reported amounts. The more significant
estimates

                                       10
<PAGE>

include reserves for obsolete inventory, reserves for warranty and the carrying
value of intangible assets.

In assessing the ultimate realization of inventories, we are required to make
judgments as to future demand requirements and compare them with the inventory
levels. Reserve requirements increase as projected demand decreases due to
market conditions, technological and product life cycle changes. We have
experienced significant changes in reserves in recent periods due to photography
switching from film to digital capture and consolidation of our customers
resulting in excess capacity and declining requirements for equipment. Such
estimates are difficult to make under current volatile economic conditions and
it is possible significant changes in required inventory reserves may continue
to occur in the future.

Warranty reserves are determined by applying historical claim rate experience to
the current installed base of equipment. Historical claim rates are developed
using four years of actual warranty expense to establish the reserve requirement
for any given accounting period.

The intangible assets consist of the patent for the Bookendz docking station and
goodwill for the Vaddio product line acquisition. The patent is being amortized
over its legal life, however, if significant changes would occur to the
estimated future cash flow of the product sales under the patent right, or from
the Vaddio product line, an additional write down would be determined based on
the reduction of such cash flows.

CAUTIONARY STATEMENT
Statements included or incorporated by reference in this Quarterly Report on
Form 10-Q which are not historical in nature are identified as "forward looking
statements" for the purposes of the safe harbor provided by Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. The Company cautions readers that forward looking
statements, including without limitation, those relating to the Company's future
business prospects, revenues, working capital, liquidity, capital needs,
interest costs, and income, are subject to certain risks and uncertainties that
could cause actual results to differ materially from those indicated in the
forward looking statements. The risks and uncertainties include, but are not
limited to, economic conditions, product demand and industry capacity,
competitive products and pricing, manufacturing efficiencies, new product
development and market acceptance, the regulatory and trade environment, and
other risks indicated in filings with the Securities and Exchange Commission.

                                       11
<PAGE>

ITEM 3: CONTROLS AND PROCEDURES

(a) As of March 31, 2004 an evaluation was performed by the Company's President
and Treasurer of the effectiveness of the design and operation of the Company's
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934). Based upon, and as of the date
of that evaluation, the President and Treasurer concluded that the Company's
disclosure controls and procedures were effective, in all material respects, to
ensure that information required to be disclosed in the reports the Company
files and submits under the Securities and Exchange Act of 1934 is recorded,
processed, summarized and reported as and when required.

(b) Changes in internal controls. There were no significant changes in the
Company's internal controls or in other factors that could significantly affect
these controls subsequent to the date of their evaluation. There were no
significant deficiencies or material weaknesses, and therefore there were no
corrective actions taken.

                                     PART II
                                     -------

ITEM 2: CHANGES IN SECURITIES

                                 Common Stock
                             --------------------   Additional
                             Number of                Paid In        Retained
                              Shares      Amount      Capital        Earnings
                             ---------   --------   ----------      ----------
Balance at
  December 31, 2003          1,604,163   $128,333   $1,393,484      $5,775,462
Stock Options Exercised         66,000      5,280       73,260
Shares Issued for
  Acquisition(1)                50,000      4,000      115,000
Net Loss                                                              (661,107)
                             ---------   --------    ---------      ----------

Balance at
  March 31, 2004             1,720,163   $137,613    $1,581,744     $5,114,355
                             =========   ========    ==========     ==========

(1)  On January 5, 2004 the Company issued 50,000 shares of its common stock to
     Sheeley enterprises, Inc. and Robin Sheeley, owners of Vaddio LLC, in
     connection with the purchase of the Vaddio assets. The Company relied on
     Section 4(2) of the Securities Act as an exemption from registration.


ITEM 5: OTHER INFORMATION

B.   Shareholder Board Member Nomination Process - The board will consider
     recommendations by shareholders of nominees for election as a director.
     Recommendations will need to be in

                                       12
<PAGE>

     writing, including a resume of the candidate's business and personal
     background and include a signed consent that the candidate is willing to be
     considered as a nominee and will serve if elected. Shareholder
     recommendations will need to be sent to Photo Control Corporation, c/o
     Corporate Secretary, 4800 Quebec Avenue North, Minneapolis, MN 55428,
     763-537-3601. Shareholder recommendations for nominees must be received no
     later than the date that shareholder proposals for action at the annual
     shareholder meeting are due.


ITEM 6: EXHIBIT AND REPORTS ON FORM 8-K

A.   Exhibits:

          10.1 - Amended and Restated Retention Agreement with Curtis R.
          Jackels, dated April 15, 2004
          10.2 - Merger Agreement and Plan of Reorganization by and among Photo
          Control Corporation, PC Acquisition, Inc., Dean Capra and Tony Capra,
          dated April 15, 2004
          10.3 - Subscription Agreement with Richard P. Kiphart, dated April 15,
          2004
          31.1 and 31.2 - Certifications
          32 - Certification Pursuant to 18 U.S.C.ss.1350, as adopted Pursuant
          to Section 906 of the Sarbanes-Oxley Act of 2002

B.   Reports on Form 8-K - On February 3, 2004 a Current Report on Form 8-K
     reporting under Items 7c and 12, the issuance of a press release announcing
     financial results for the year ended December 31, 2003.

     On January 6, 2004, a Current Report on Form 8-K reporting under Item 5,
     the issuance of a press release announcing the acquisition of the Vaddio
     product line.

     On April 15, 2004, a Current Report on Form 8-K reporting under Item 5, the
     issuance of a press release announcing the merger with Nature Vision.

                                          PHOTO CONTROL CORPORATION

Date: May 11, 2004                        By/s/Curtis R. Jackels
                                          Curtis R. Jackels
                                          Chief Executive Officer, and President

                                          By/s/Christopher S. Lausen
                                          Christopher S. Lausen
                                              Treasurer


                                       13