SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                    FORM 10-Q


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



For Quarter Ended September 30, 2000               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 period covered by this report.

         Class                                  Outstanding at October 13, 2000
----------------------------                    --------------------------------
Common Stock, par value $.08                                   1,604,163 Shares


                                       1


<PAGE>


                            PHOTO CONTROL CORPORATION
                                      INDEX



PART I                                                               Page Number
------                                                               -----------
     ITEM 1:        Financial Information

                      Balance Sheet -
                        September 30, 2000 and December 31, 1999          3

                      Statement of Operations -
                        Nine Months and Three Months Ended
                        September 30, 2000 and 1999                       4

                      Statement of Cash Flows -
                        Nine Months Ended September 30, 2000 and 1999     5

                      Notes to Financial Statements                       6

    ITEM 2:           Management's Discussion and Analysis
                        of Financial Condition and Results of
                        Operations                                        7


PART II
-------
    ITEM 2:           Changes in Securities                               9

    ITEM 6:           Exhibits and Reports on Form 8-K                    9





                                       2


<PAGE>


                            PHOTO CONTROL CORPORATION
                                  BALANCE SHEET
                                   (UNAUDITED)

                                           SEPTEMBER 30           DECEMBER 31
                                               2000                  1999
                                           ------------          ------------
                     ASSETS
                     ------
Current Assets
--------------
   Cash                                     $2,815,550            $  819,302
   Accounts Receivable                         693,173               647,597
   Inventories                               3,381,189             4,478,640
   Prepaid Expenses                             55,577                74,430
                                             ---------             ---------
         Total Current Assets                6,945,489             6,019,969
                                             ---------             ---------
Other Assets
------------
   Cash Value of Life Insurance                326,463               308,166
   Deferred Income Taxes                       160,000               160,000
                                             ---------             ---------
         Total Other Assets                    486,463               468,166
                                             ---------             ---------
Plant and Equipment
-------------------
   Land and Building                         2,316,824             2,293,818
   Machinery and Equipment                   3,003,916             3,173,990
   Accumulated Depreciation                 (3,835,391)           (3,846,133)
                                             ---------             ---------
         Total Plant and Equipment           1,485,349             1,621,675
                                             ---------             ---------
                                            $8,917,301            $8,109,810
                                             =========             =========

           LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
-------------------
   Accounts Payable                         $  220,971            $  281,417
   Accrued Payroll and Employee Benefits       404,447               220,848
   Accrued Expenses                            274,526               264,952
   Customer Deposit                                                  406,250
                                             ---------             ---------
         Total Current Liabilities             898,944             1,173,467
                                             ---------             ---------

Other Accrued Expense                          746,047               685,148
---------------------
                                             ---------             ---------
Stockholders' Equity
--------------------
   Common Stock   128,333                      128,333
   Additional Paid-In Capital                1,393,484             1,393,484
   Retained Earnings                         5,750,493             4,729,378
                                             ---------             ---------
         Total Stockholders' Equity          7,272,310             6,251,195
                                             ---------             ---------
                                            $8,917,301            $8,109,810
                                             =========             =========

                 See accompanying notes to financial statements.


                                       3
<PAGE>


                            PHOTO CONTROL CORPORATION
                             STATEMENT OF OPERATIONS
                                   (unaudited)
<TABLE>
<CAPTION>
                                           THREE MONTHS                      NINE MONTHS
                                        ENDED SEPTEMBER 30               ENDED SEPTEMBER 30
                                        -------------------             --------------------
                                        2000           1999             2000            1999
                                        ----           ----             ----            ----
<S>                                  <C>             <C>             <C>             <C>
Net Sales                            $3,720,897      $2,963,156      $9,548,359      $7,537,035
Cost of Sales                         2,550,954       2,127,361       6,726,094       5,362,191
                                     ----------      ----------      ----------      ----------
  Gross Profit                        1,169,943         835,795       2,822,265       2,174,844

Expenses
   Marketing & Administrative           431,431         424,659       1,395,638       1,349,319
   Research, Development & Eng          139,158         147,018         405,512         478,209
                                     ----------      ----------      ----------      ----------
                                        570,589         571,677       1,801,150       1,827,528
                                     ----------      ----------      ----------      ----------
Net Income                           $  599,354      $  264,118      $1,021,115      $  347,316
                                     ==========      ==========      ==========      ==========
Net Income Per Common
  Share - Basic                      $      .38      $      .17      $      .64      $      .22
                                     ==========      ==========      ==========      ==========
Net Income Per Common
  Share - Diluted                    $      .36      $      .17      $      .61      $      .22
                                     ==========      ==========      ==========      ==========
</TABLE>



                 See accompanying notes to financial statements.


                                       4
<PAGE>


                            PHOTO CONTROL CORPORATION
                             STATEMENT OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                     NINE MONTHS
                                                                  ENDED SEPTEMBER 30
                                                             -----------------------------
                                                                2000                1999
                                                             -----------       -----------
<S>                                                          <C>               <C>
Cash flows from operating activities:
     Net from operations                                     $ 1,021,115       $   347,316
     Items not affecting cash-
         Depreciation                                            198,000           216,000
         Deferred compensation                                   112,500           112,500
         Loss on sale of equipment                                12,889            36,354
     Payment of deferred compensation                            (51,601)          (51,601)
     Change in:
              Receivables                                        (45,576)         (394,125)
              Inventories                                      1,097,451            73,885
              Prepaid Expenses                                    18,853            39,978
              Accounts Payable                                   (60,446)          158,934
              Accrued Expenses                                  (214,077)           33,198
                                                             -----------       -----------
                  Net Cash provided by
                   operating activities                        2,089,108           572,439
                                                             -----------       -----------
Cash flows from investing activities:
     Additions to plant and equipment                            (83,538)          (27,847)
     Additions to cash value of life insurance                   (18,297)          (18,297)
     Proceeds from sale of equipment                               8,975            10,500
                                                             -----------       -----------
                  Net cash used in investing activities          (92,860)          (35,644)
                                                             -----------       -----------

Change in cash                                                 1,996,248           536,795
Cash at beginning of period                                      819,302           731,426
                                                             -----------       -----------

Cash at end of period                                        $ 2,815,550       $ 1,268,221
                                                             ===========       ===========
</TABLE>



                 See accompanying notes to financial statements



                                       5


<PAGE>


                            PHOTO CONTROL CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2000
                                   (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:

                                                 SEPTEMBER 30        DECEMBER 31
                                                     2000               1999
                                                  ----------         ----------
                  Raw Materials                   $3,434,058         $4,237,561

                  Work in Progress                   355,435            257,031

                  Finished Goods                   1,368,696          1,626,048

                  Reserve for Obsolescence        (1,777,000)        (1,642,000)
                                                  ----------         ----------
                                                  $3,381,189         $4,478,640
                                                  ==========         ==========


NOTE 3


         Net Income 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.


                                       6
<PAGE>


                            PHOTO CONTROL CORPORATION
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATION

RESULTS OF OPERATIONS

Sales for the third quarter ended September 30, 2000 were $3,721,000, an
increase of 25.6% from the same quarter in the prior year. Sales for the nine
months ended September 30, 2000 were $9,548,000, an increase of 26.7% over the
same period in the prior year. Lighting sales decreased $291,000 for the third
quarter and $1,001,000 for the year to date period, as compared to the same
periods in the prior year. A decrease in orders from large customers accounted
for the sales decreases in the lighting product line. The camera product line
accounts for an increase in sales of $1,769,000 for the third quarter and
$3,718,000 for the year to date period, as compared to the same periods in the
prior year. The increase in camera product line sales is attributable to the
$6,200,000 camera contract for which shipment began in December of 1999 and will
continue through April of 2001. As of September 30, 2000 the contract is
fifty-six percent complete. Sales of the third product line, printers, decreased
by $720,000 for the third quarter and decreased $706,000 for the year to date
period, as compared to the same periods in the prior year. The sales trend for
the printer line continues to decline because the optical photographic printer
market continues to experience consolidation and excess capacity.

The gross profit margin for the third quarter of 2000 increased to 31.4% from
28.2% in the third quarter of 1999. The gross profit margin for the nine months
ended September 30, 2000 increased to 29.6% from 28.9% in the prior year period.
Gross margin varies depending upon the product mix of sales. Management expects
that the margins for the year 2000 will be approximately 28%.

Marketing and administrative expenses decreased as a percentage of sales to
11.6% for the third quarter of 2000 from 14.3% for the third quarter of 1999 and
decreased to 14.6% for the first nine months of 2000 from 17.9% for the same
period in 1999. Marketing and administrative expenses increased $7,000 for the
third quarter of 2000 as compared to the third quarter of 1999 and increased
$46,000 for the first nine months of 2000 compared to the same period in 1999.
Research, development and engineering expense decreased by $8,000 for the third
quarter of 2000 compared to the third quarter of 1999 and decreased by $73,000
for the first nine months of 2000 compared to the same period of 1999. The
increase in the marketing and administrative expense reflects additional
compensation earned as the result of increased profitability. Research,
development and engineering expense reflects the reorganization of the
engineering department in 1999 which has resulted in lower cost, primarily due
to a reduction in staff and increased efficiencies.


                                       7
<PAGE>


LIQUIDITY & CAPITAL RESOURCES

Cash increased by $1,996,000 to $2,815,000 since December 31, 1999. Operations
for the nine months ended September 30, 2000 resulted in $2,089,000 of positive
cash flow.

At September 30, 2000 there is no borrowing under the line of credit. The
Company can borrow up to $1,000,000 under its line of credit. The line is
unsecured, at the prime rate of interest and renewed annually in May.

The Company believes that its cash flow from future operations and available
borrowing capacity will be sufficient to finance operations and capital
requirements.


FACTORS THAT MAY AFFECT FUTURE RESULTS

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.









                                       8
<PAGE>


ITEM 2.  CHANGES IN SECURITIES
<TABLE>
<CAPTION>
                                      Common Stock
                                 -------------------------
                                                                Additional
                                 Number of                       Paid In         Retained
                                  Shares          Amount         Capital         Earnings
                                 ---------      ----------      ----------      ----------
<S>         <C>                  <C>            <C>             <C>             <C>
Balance at
   December 31,1999              1,604,163      $  128,333      $1,393,484      $4,729,378

Net Income                              --              --              --       1,021,115
                                 ---------      ----------      ----------      ----------
Balance at
        September 30, 2000       1,604,163      $  128,333      $1,393,484      $5,750,493
                                ==========      ==========      ==========      ==========
</TABLE>



ITEM 6.  EXHIBIT AND REPORTS ON FORM 8-K

A.  Exhibits - 27 Financial Data Schedule
B.  Reports on Form 8-K - None



                            PHOTO CONTROL CORPORATION
                            -------------------------
                                  (Registrant)


October 13, 2000             /s/ J. R. Helmen
----------------             ---------------------------------------------------
      Date                   J. R. Helmen, President and Chief Executive Officer


October 13, 2000             /s/ C. R. Jackels
----------------             ---------------------------------------------------
      Date                   C. R. Jackels, Vice President-Finance









                                       9