<PAGE>   1
                                                                          Part I
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

           (X) Quarterly Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                  For the quarterly period ended March 31, 1999

          ( ) Transition Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                         For the transition period from
                                       to

                         COMMISSION FILE NUMBER 0-30067


                            PVC CONTAINER CORPORATION
             (Exact name of registrant as specified in its charter)

                  Delaware                            13-2616435
       (State or other jurisdiction of             (I.R.S. Employer
       incorporation or organization)             Identification No.)


               2 Industrial Way West, Eatontown, New Jersey 07724
             (Address of principal executive offices and zip code)

        Registrant's telephone number, including area code (732) 542-0060

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 

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 March 31, 1999
Common $.01 par value                                  7,004,705 shares
<PAGE>   2
                                                                          Part I


                                    CONTENTS


<TABLE>
<CAPTION>
                                                                                     PAGE 
                                                                                      NO.
                                                                                     ----
<S>                                                                                  <C>

PART I.   FINANCIAL INFORMATION

          Consolidated Balance Sheets - March 31, 1999 and June 30, 1998               3

          Consolidated Statements of Income - Three Months Ended March 31, 
            1999 and 1998 and Nine Months Ended March 31, 1999 and 1998                4

          Consolidated Statements of Cash Flows - Nine Months Ended
            March 31, 1999 and 1998                                                    5

          Notes to Consolidated Financial Statements                                   6

          Management's Discussion and Analysis of Financial Condition and 
            Results of Operations
                                                                                      9-10


PART II.     OTHER INFORMATION                                                         11
</TABLE>
<PAGE>   3
                                                                          Part I

                            PVC Container Corporation

                           Consolidated Balance Sheets
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                MARCH             JUNE
                                                                               31, 1999         30, 1998
                                                                              ----------------------------
<S>                                                                           <C>              <C>       
ASSETS
Current assets:
   Cash and cash equivalents                                                  $   228,370      $   868,498
   Accounts receivable, less allowance of $518,000 at March 31, 1999
     and $412,000 at June 30, 1998                                             12,276,045       11,091,406
   Inventories                                                                 12,796,744       10,901,200
   Prepaid expenses, taxes and other current assets                             1,066,758          653,326
   Deferred income taxes                                                        1,486,033        1,486,033
                                                                              ----------------------------
Total current assets                                                           27,853,950       25,000,463

Other assets                                                                      428,359          426,000
Intangibles, net                                                                3,903,106
Unexpended proceeds from construction loan                                      6,084,847        8,653,055
Properties and equipment at cost - net of accumulated depreciation
                                                                               45,255,049       36,291,600
                                                                              ----------------------------
                                                                              $83,525,311      $70,371,118
                                                                              ============================

LIABILITIES AND STOCKHOLDERS' EQUITY 
Current liabilities:
   Accounts payable                                                           $ 8,180,174      $ 7,993,694
   Accrued expenses                                                             4,765,877        5,806,645
   Income taxes payable                                                           763,205          238,325
   Current portion of long-term debt                                            4,692,202        2,615,731
                                                                              ----------------------------
Total current liabilities                                                      18,401,458       16,654,395

Long-term debt                                                                 42,590,177       33,309,115
Deferred income taxes                                                           3,200,693        1,680,693

Stockholders' equity:
   Preferred stock, par value $1.00, authorized 1,000,000 shares, none
     issued
   Common stock, par value $.01, authorized 10,000,000 shares, 7,004,705 shares
     issued and outstanding as of March 31, 1999 and
     June 30, 1998                                                                 70,047           70,047
   Capital in excess of par value                                               3,646,747        3,646,747
   Retained earnings                                                           15,616,189       15,010,121
                                                                              ----------------------------
Total stockholders' equity                                                     19,332,983       18,726,915
                                                                              ----------------------------
                                                                              $83,525,311      $70,371,118
                                                                              ============================
</TABLE>

See accompanying notes.

                                                                               3
<PAGE>   4
                                                                          Part I
                            PVC Container Corporation

                        Consolidated Statements of Income
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                THREE MONTHS ENDED                   NINE MONTHS ENDED
                                                     MARCH 31                             MARCH 31
                                           ------------------------------------------------------------------
                                               1999              1998             1999               1998
                                           ------------------------------------------------------------------

<S>                                        <C>               <C>               <C>               <C>         
Net sales                                  $ 23,458,934      $ 17,592,611      $ 60,773,682      $ 47,616,710

Cost and expenses:
   Cost of goods sold (exclusive of
     depreciation and amortization
     expense shown separately below)
                                             16,763,637        13,257,057        46,411,793        36,428,041
   Selling, general and administrative
     expenses                                 2,456,180         1,652,655         6,489,560         4,719,962
   Depreciation and amortization              1,900,409           964,833         5,328,556         2,645,975
                                           ------------------------------------------------------------------
                                             21,120,226        15,874,545        58,229,909        43,793,978
                                           ------------------------------------------------------------------
Income from operations                        2,338,708         1,718,066         2,543,773         3,822,732

Other income (expense):
   Interest expense                            (646,632)         (297,289)       (1,828,688)         (754,202)
   Other income                                  44,220            44,436           287,783            70,486
                                           ------------------------------------------------------------------
                                               (602,412)         (252,853)       (1,540,905)         (683,716)
                                           ------------------------------------------------------------------
Income before provision for
   income taxes                               1,736,296         1,465,213         1,002,868         3,139,016

Provision for income taxes                     (690,100)         (593,055)         (396,800)       (1,271,255)
                                           ------------------------------------------------------------------
Net income                                 $  1,046,196      $    872,158      $    606,068      $  1,867,761
                                           ==================================================================

Earnings per share (basic and diluted)
                                           $        .15      $        .13      $        .09      $        .27
                                           ==================================================================
</TABLE>




See accompanying notes.

                                                                               4
<PAGE>   5
                                                                          Part I
                            PVC Container Corporation

                      Consolidated Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                              NINE MONTHS ENDED
                                                                                  MARCH 31
                                                                            1999            1998
                                                                       ------------------------------
<S>                                                                    <C>               <C>         
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income                                                      $    606,068      $  1,867,761
Adjustments to reconcile net (loss) income to net cash provided by
   operating activities:
     Depreciation and amortization                                        5,328,556         2,645,975
     Gain on sale of equipment                                             (107,000)
     Deferred income taxes                                                  (30,000)          (38,000)
     Changes in assets and liabilities:
       Accounts receivable - net of allowances                              138,361        (1,472,649)
       Inventories                                                       (1,388,544)       (1,467,762)
       Prepaid expenses, taxes and other current assets                    (287,432)           13,035
       Other assets                                                         295,641
       Accounts payable and accrued expenses                             (2,233,288)        2,087,380
       Income taxes payable                                                 524,880           441,969
                                                                       ------------------------------
Net cash provided by operating activities                                 2,847,242         4,077,709

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of business                                                    (12,000,000)      (10,209,579)
Capital expenditures                                                     (2,951,903)       (3,175,375)
Proceeds from sale of equipment                                             107,000
                                                                       ------------------------------
Net cash used in investing activities                                   (14,844,903)      (13,384,954)

CASH FLOWS FROM FINANCING ACTIVITIES
Payments of long-term debt                                               (3,042,467)       (3,077,044)
Proceeds from long-term debt                                             14,400,000        12,459,720
                                                                       ------------------------------
Net cash provided by financing activities                                11,357,533         9,382,676
                                                                       ------------------------------

Net (decrease) increase in cash and cash equivalents                       (640,128)           75,431
Cash and cash equivalents at beginning of period                            868,498           222,490
                                                                       ------------------------------
Cash and cash equivalents at end of period                             $    228,370      $    297,921
                                                                       ==============================
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest paid                                                          $  1,721,300      $    756,600
                                                                       ==============================

Income taxes paid                                                      $    111,000      $    867,000
                                                                       ==============================
</TABLE>


See accompanying notes.

                                                                               5
<PAGE>   6
                                                                          Part I
                            PVC Container Corporation

                   Notes to Consolidated Financial Statements



Note 1     In the opinion of the Company, the accompanying consolidated
           financial statements contain all adjustments (consisting of only
           normal recurring adjustments) necessary to present fairly the
           financial position as of March 31, 1999, and the results of
           operations and cash flows for the nine month periods ended March 31,
           1999 and 1998.

           While the Company believes that the disclosures presented are
           adequate to make the information not misleading, it is suggested that
           these condensed financial statements be read in conjunction with the
           financial statements and the notes included in the Company's latest
           annual report on Form 10-K.

           In 1997, the Financial Accounting Standards Board issued Statement of
           Financial Accounting Standards No. 128, Earnings per Share. Statement
           128 replaced the previously reported primary and fully diluted
           earnings per share with basic and diluted earnings per share. Unlike
           primary earnings per share, basic earnings per share excludes any
           dilutive effects of options, warrants, and convertible securities.
           Diluted earnings per share is very similar to the previously reported
           fully diluted earnings per share. All earnings per share amounts for
           all periods have been presented, and where necessary, restated to
           conform to the Statement 128 requirements.

           Diluted earnings per share are based on the average number of common
           shares outstanding during each period, assuming exercise of all stock
           options having exercise prices less than the average market price of
           the common stock using the treasury stock method. Common stock and
           common stock equivalents amounted to 7,164,547 and 7,078,565 in the
           third quarter of 1999 and 1998, respectively, and 7,166,873 and
           7,018,535 for the nine month periods ended March 31, 1999 and 1998,
           respectively.

Note 2     The accompanying financial statements include the accounts of PVC
           Container Corporation and its wholly-owned subsidiaries, Novatec
           Plastics Corporation, Marpac Industries, Inc., Airopak Corporation
           and PVC Container International Sales Corporation, a foreign sales
           company incorporated in the U.S. Virgin Islands on March 1, 1993. All
           intercompany accounts have been eliminated.

Note 3     Excluded from the consolidated statements of cash flows for the nine 
           months ended March 31, 1999 and 1998 was the effect of certain 
           noncash financing activities related to the $2.5 million and $7.3
           million loans obtained by the


                                                                               6
<PAGE>   7
                                                                          Part I
                            PVC Container Corporation

             Notes to Consolidated Financial Statements (continued)




           Company from GE Capital in March 1998 and June 1998, respectively,
           the $3.5 million loan from GE Capital obtained by the Company in
           April 1997 and the $5.5 million South Carolina EDA loan obtained by
           the Company in April 1996. Capital expenditures in connection with
           these agreements totaled approximately $2,630,000 and $3,482,000 for
           the nine months ended March 31, 1999 and 1998, respectively.

           The purchase price for the business acquired (Note 5) in September
           1998 is preliminarily allocated to the assets acquired and
           liabilities assumed based on their estimated fair market values as
           follows:

<TABLE>
<S>                                                                      <C>       
           Fair value of assets acquired:                  
              Accounts receivable, net                                   $ 1,323,000
              Inventory, net                                                 507,000
              Other current assets                                           126,000
              Property, plant and equipment                                8,579,000
              Goodwill and other noncurrent assets                         4,394,000

           Less liabilities assumed:
              Accounts payable and accrued expenses                       (1,379,000)
              Deferred income taxes                                       (1,550,000)
                                                                         -----------
           Net cash paid                                                 $12,000,000
                                                                         ===========
</TABLE>


           The purchase price for the business acquired (Note 5) in March 1998
           was allocated to the assets acquired and liabilities assumed based on
           their estimated fair market values as follows:

<TABLE>
<S>                                                                      <C>       
           Fair value of assets acquired:
              Accounts receivable, net                                   $ 2,270,000
              Inventory, net                                               1,107,000
              Prepaid expenses and other current assets                       21,000
              Property, plant and equipment                                9,024,000

           Less liabilities assumed:
              Accounts payable and accrued expenses                       (2,212,000)
                                                                         -----------
           Net cash paid                                                 $10,210,000
                                                                         ===========
</TABLE>



                                                                               7
<PAGE>   8
                                                                          Part I
                            PVC Container Corporation

             Notes to Consolidated Financial Statements (continued)



Note 4  Inventories consist of:

<TABLE>
<CAPTION>
                                                    MARCH            JUNE
                                                   31, 1999        30, 1998
                                                 ---------------------------

<S>                                               <C>             <C>       
Raw materials                                     $4,690,791      $3,355,086
Finished goods and supplies                        6,599,495       6,634,135
                                                 ---------------------------
Total LIFO inventories                            11,290,286       9,989,221

Molds for resale in production                       937,626         539,635
Supplies                                             568,832         372,344
                                                 ---------------------------
                                                 $12,796,744     $10,901,200
                                                 ===========================
</TABLE>


Note 5  On September 3, 1998 pursuant to a Purchase Agreement, the Company
        acquired, in consideration for the payment of a purchase price of 
        $12,000,000, all of the issued and outstanding shares of Marpac 
        Industries, Inc. together with certain real property owned by the 
        sellers. The consideration was provided by Fleet Bank, N.A. pursuant to 
        a Loan and Security Agreement among the Company and its wholly-owned 
        subsidiaries and Fleet Bank, N.A., dated as of September 3, 1998 in the 
        amount of $12,000,000. Marpac Industries, Inc. is a technical blow
        molding operation that produces bottles, containers, cartridges and 
        various dispensers for domestic and international customers including 
        office equipment, food and industrial products. Marpac Industries, Inc. 
        has its principal operation in Kingston, New York and also has a 
        facility located in Ardmore, Oklahoma.

        The acquisition has been accounted for as a purchase and,
        accordingly, the results of the operations have been included in the
        Company's results of operations from the acquisition date. The
        purchase price has been preliminary allocated to the assets acquired
        and liabilities assumed based on their estimated fair values at the
        acquisition date. The excess of purchase price over net assets of the
        business acquired is amortized on a straight-line basis over fifteen
        years.

        On March 30, 1998 the Company acquired from McKechnie Investments,
        Inc., its wholly-owned subsidiary known as Charter Supply Co., Inc.
        for approximately $10.2 million. The Company accounted for the
        acquisition as a purchase. Accordingly, the acquired assets and
        liabilities assumed were recorded at their estimated fair values at
        the date of acquisition.


                                                                               8
<PAGE>   9
                                                                          Part I
                            PVC CONTAINER CORPORATION

           Management's Discussion and Analysis of Financial Condition
                           and Results of Operations


RESULTS OF OPERATIONS

Net sales for the three month period ended March 31, 1999 increased by 33.3% to
$23,459,000 as compared to $17,593,000 for the three month period ended March
31, 1998. For the nine months ended March 31, 1999, sales increased by 27.6% to
$60,774,000 compared to $47,617,000 for the nine month period ended March 31,
1998. The increases in revenues are primarily due to the inclusion of two recent
acquisitions in the March 31, 1999 results.

Cost of goods sold for the three months ended March 31, 1999 was $16,764,000 or
71.5% of net sales as compared to $13,257,000 or 75.4% of net sales for the
three months ended March 31, 1998. The Company benefited from increased
efficiencies as a result of higher production and sales volumes. For the nine
months ended March 31, 1999, cost of goods sold was $46,412,000 or 76.4% of net
sales as compared to $36,428,000 or 76.5% for the nine months ended March 31,
1998.

For the quarter ended March 31, 1999, Selling, General and Administrative
("SG&A") expenses were $2,456,000 or 10.5% of net sales, as compared to
$1,653,000 or 9.4 % of net sales for the quarter ended March 31, 1998. For the
nine months ended March 31, 1999, SG&A expenses were $ 6,490,000 or 10.7% of net
sales as compared to $4,720,000 or 9.9% of net sales for the nine month period
ended March 31, 1998. SG&A expenses increased due to the recent acquisitions as
well as increased personnel expenses necessary to support the Company's desire
to grow its business.

Depreciation and amortization expenses increased to a level of $1,900,000 for
the three months ended March 31, 1999 as compared to $965,000 for the three
months ended March 31, 1998. For the nine month period ended March 31, 1999,
depreciation and amortization expenses were $5,329,000 as compared to $2,646,000
for the nine month period ended March 31, 1998. The increases are attributable
to the depreciation expense on fixed assets related to the recent acquisitions
as well as amortization expense on the goodwill generated from the Marpac
acquisition.

Income from Operations increased by $621,000 during the three month period ended
March 31, 1999 as compared to the same period a year ago. For the three month
period ended March 31, 1999, Income from Operations was $2,339,000 or 10.0% of
net sales, as compared to $1,718,000 or 9.8% of net sales for the three months
ended March 31, 1998. Income from Operations for the nine month period ended
March 31, 1999 decreased to $2,544 ,000 or 4.2% of net sales as compared to
$3,823,000 or 8.0% of net sales for the nine month period ended March 31, 1998.
The decrease in Operating Income is principally the result of a delay in the
start-up of the Company's new manufacturing facility in Hazleton, PA, as well as
higher than anticipated start-up expenses at that location.

Net income for the quarter ended March 31, 1999 increased to $1,046,000 or $.15
on a diluted earnings per share basis as compared to $872,000 or $.13 on a
diluted earnings per share basis for the same period a year ago. For the nine
months ended March 31, 1999, net income decreased to $606,000 or $.09 on a
diluted earnings per share basis as compared to $1,868,000 or $.27 on a diluted
earnings per share basis for the nine month period ended March 31, 1998.


                                                                               9
<PAGE>   10
LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity position and working capital increased during the nine
month period ended March 31, 1999. Net working capital as at March 31, 1999 was
$9,452,000 compared to $8,346,000 as of June 30, 1998. The current ratio of
assets to liabilities remained unchanged at 1.5 at March 31, 1999.

During the nine month period ended March 31, 1999, the Company generated cash
from operations of $2,847,000 and received proceeds from long term debt in the
amount of $14,400,000. These funds were used to acquire certain properties and
all of the issued and outstanding shares of Marpac Industries, Inc. for
$12,000,000, reduce long term debt by $3,042,000, and acquire capital assets of
$2,952,000.

The Company's short term liquidity and short term capital resources are adequate
for timely payment to trade and other creditors. The Company's sources of credit
are sufficient to meet its working capital and capital needs in the foreseeable
future. At March 31, 1999, the Company had unused sources of liquidity
consisting of cash and cash equivalents of $228,000 and the availability of the
unused credit under a revolving credit facility of $2,800,000.


IMPACT OF YEAR 2000

The Year 2000 issue is the result of computer-controlled systems using two
digits rather than four to define the applicable year. For example, computer
programs that have time-sensitive software may recognize a date ending in "00"
as the year 1900 rather than the year 2000. This could result in system failure
or miscalculations causing disruptions of operations including, among other
things, a temporary inability to process transactions, send invoices, or engage
in similar normal business activities.

During fiscal 1998, the Company began a program to upgrade its computer software
and hardware which is expected to be completed in calendar 1999. A significant
portion of the costs related to this program are included in the June 30, 1998
audited financial statements. The Company believes that with these upgrades for
its computer systems, the Year 2000 issue will not pose significant operational
problems. However, if such modifications and conversions are not made, or are
not completed timely, the Year 2000 issue could have a material impact on the
operations of the Company.

The Company is continuing to contact all of its significant suppliers and large
customers to determine the extent to which the Company's interface systems are
vulnerable to those third parties' failure to remediate their own Year 2000
issues. There can be no guarantee that the systems of other companies on which
the Company's systems rely will be timely converted and will not have a material
adverse effect on the Company's systems.


                                                                              10
<PAGE>   11
                                                                         Part II

                            PVC Container Corporation

                                Other Information



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

         (b) Reports on Form 8-K - There were no reports on Form 8-K filed for 
             the three months ended March 31, 1999.

         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.




                                           PVC CONTAINER CORPORATION


                                           By  /s/ Phillip Friedman
                                             -----------------------------------
                                               Phillip Friedman, President and
                                                 Principal Financial Officer

Date:  May 14, 1999



                                                                              11