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

                            Form  10 - Q
(Mark  One)

    X    QUARTERLY  REPORT  PURSUANT  TO  SECTION 13  OR  15(d) OF THE
  -----  SECURITIES EXCHANGE  ACT  OF  1934.
           For  the  period  ended  January 31,  1998.

         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  0-15407

                         Circuit  Systems,  Inc.
          -------------------------------------------------------
         (Exact  name  of  registrant  as  specified  in  charter)

     Illinois                                          36-2663010
 ---------------------------------                    ----------------
(State  or  other  jurisdiction                      (I.R.S.  Employer
 of incorporation or organization)                 Identification No.)

2350 East Lunt Avenue, Elk Grove Village, Illinois              60007
--------------------------------------------------           ---------
(Address  of  principal  executive  offices)                (Zip Code)

(847)  439 - 1999
 ------------------------------           -----------------------------
(Registrant's  telephone  number,      (Former name, former address and
  including  area  code)                and former fiscal year, if
                                        changed 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 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     .
                                                         ----       ----

            APPLICABLE  ONLY  TO  ISSUERS  INVOLVED  IN  BANKRUPTCY
                PROCEEDING  DURING  THE  PRECEDING  FIVE  YEARS

Indicate  by check mark  whether the  registrant has  filed all documents  and
reports required to  be filed by Sections 12, 13, or 15 (d) of  the Securities
Exchange  Act of 1934  subsequent to  the distribution  of securities under  a
plan confirmed by a court.        Yes        No      .
                                      -----     -----
APPLICABLE ONLY TO CORPORATE ISSUERS:        Indicate  the  number  of  shares
outstanding of each of the issuer's classes of common stock,  as of the latest
practicable date:  February 28,  1998  4,577,173.

<PAGE>
                            CIRCUIT  SYSTEMS,  INC.
                               AND  SUBSIDIARIES

                                     INDEX


                                                                     Page
                                                                    Number
PART   I.              FINANCIAL  INFORMATION

     1.  Financial  Statements

           Consolidated Condensed Balance Sheets  ..................   3

           Consolidated Condensed Statements of Operations  ........   4

           Consolidated Condensed Statement of Cash Flows  .........   5

           Notes to Consolidated Condensed Financial Statements  ...   6

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

     3.  Quantitative and Qualitative Disclosurers about
           Market Risks   ..........................................  10

PART  II.  OTHER  INFORMATION

         Item  6.    Exhibits and Reports on Form 8-K  .............   11


<PAGE>
                           
                           CIRCUIT  SYSTEMS,  INC.
                              AND  SUBSIDIARIES
                   CONSOLIDATED CONDENSED  BALANCE  SHEETS
                                (UNAUDITED)

<TABLE>
                                            4/30/97         1/31/98
                                          -----------     -----------
<S>                                      <C>             <C>
     ASSETS
CURRENT ASSETS
    CASH  AND  CASH  EQUIVALENTS  ....    $   294,204     $   936,326
    ACCOUNTS  RECEIVABLE,  LESS
      ALLOWANCE  OF  $500,000   ......      6,561,782      10,759,205
    INVENTORIES
      RAW MATERIALS   ................      2,797,845       3,400,816
      WORK  IN  PROCESS   ............      2,129,627       2,530,536
      FINISHED  GOODS   ..............      1,709,349       2,957,347
                                           ----------      ----------
                                            6,636,821       8,888,699

    DEFERRED  INCOME  TAXES   ........        363,000         363,000
    PREPAID  EXPENSES   ..............        215,674         324,292
                                           ----------      ----------
      TOTAL  CURRENT  ASSETS   .......     14,071,481      21,271,522

   INVESTMENT  IN  AFFILIATE  ........      2,841,193       2,921,484

   PROPERTY,PLANT,& EQUIPMENT - AT COST
    BUILDING  AND  IMPROVEMENTS   ....      9,446,475      13,642,219
    MACHINERY  AND  EQUIPMENT   ......     33,871,214      41,461,246
    AUTOMOTIVE  EQUIPMENT   ..........         83,796          71,889
                                           ----------      ----------
                                           43,401,485      55,175,354
      LESS  ACCUMULATED  DEPRECIATION      18,442,154      21,800,816
                                           ----------      ----------
                                           24,959,331      33,374,538
    LAND   ...........................      2,814,613       2,975,672
                                           ----------      ----------
                                           27,773,944      36,350,210
   OTHER  ASSETS
    DEPOSITS  AND  SUNDRY   ..........      1,071,481       1,310,631
                                           ----------      ----------
                                          $45,758,099     $61,853,847
                                           ==========      ==========
  LIABILITIES & SHAREHOLDERS'  EQUITY
CURRENT  LIABILITIES
  CURRENT MATURITIES OF L/T OBLIGATIONS   $ 4,662,289     $ 6,234,632 
    ACCOUNTS  PAYABLE   ..............      4,095,791       6,620,032
    ACCRUED  LIABILITIES   ...........      1,193,969       1,559,206
    INCOME  TAXES  PAYABLE   .........        384,745           ---
                                           ----------      ----------
         TOTAL  CURRENT  LIABILITIES       10,336,794      14,413,870

   LONG - TERM  OBLIGATIONS  .........     10,640,363      26,195,717
   DEFERRED  INCOME  TAXES  ..........      1,848,000       1,775,000
   MINORITY  INTEREST  ...............        471,246         409,657
</TABLE>
<PAGE>

<TABLE>
<S>                                      <C>             <C>
   SHAREHOLDERS'  EQUITY
    COMMON  STOCK   ..................      2,882,322       2,554,578
    RETAINED  EARNINGS   .............     19,596,240      16,556,268
    CUMULATIVE  FOREIGN CURRENCY
      TRANSLATION  ADJUSTMENT   ......        (16,866)        (51,243)
                                           ----------      ----------
                                           22,461,696      19,059,603
                                           ----------      ----------
                                          $45,758,099     $61,853,847
                                           ==========      ==========
</TABLE>
 THE  ACCOMPANYING  NOTES  ARE  AN  INTEGRAL  PART  OF  THESE  STATEMENTS
<PAGE>
                            
                            CIRCUIT  SYSTEMS,  INC.
                              AND  SUBSIDIARIES
                CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                (UNAUDITED)

<TABLE>
                              THREE MONTHS ENDED        NINE  MONTHS  ENDED
                              1/31/97      1/31/98      1/31/97      1/31/98
                            ----------   ----------   ----------   ----------
<S>                       <C>          <C>          <C>          <C>
NET SALES  ..............  $16,623,829  $18,833,070  $49,359,056  $52,228,824

COST  OF  GOODS  SOLD ...   13,795,611   17,311,165   42,500,460   47,836,848
                            ----------   ----------   ----------   ----------
    GROSS  PROFIT   .....    2,828,218    1,521,905    6,858,596    4,391,976

SALES & MARKETING EXPENSES     896,327      675,658    2,450,120    2,044,826
ADMINISTRATIVE  EXPENSES       586,266      638,196    1,993,799    1,872,054
                            ----------   ----------   ----------   ----------
                             1,482,593    1,313,854    4,443,919    3,916,880

    OPERATING INCOME .....   1,345,625      208,051    2,414,677      475,096

 OTHER (INCOME) DEDUCTIONS
INTEREST  EXPENSE   .....      405,000      679,202    1,165,508    1,695,359
INTEREST  RECEIVED   ....         ---        (2,785)       ---         (8,894)
GAIN ON SALE OF EQUIPMENT         ---          ---         ---           (325)
EQUITY IN  EARNINGS  OF
  UNCONSOLIDATED AFFILIATE    (150,373)      (1,803)    (544,031)     (80,291)
RENTAL  INCOME   ........      (91,160)    (100,460)    (247,760)    (309,780)
MINORITY INTEREST IN LOSS
  OF SUBSIDIARY..........         ---       (10,404)        ---       (61,596)
SUNDRY   ................      (27,408)      24,340      (51,512)      10,294
                            ----------   ----------   ----------   ----------
                               136,059      588,090      322,205    1,244,767
                            ----------   ----------   ----------   ----------
EARNINGS/(LOSS) BEFORE
 INCOME TAXES                1,209,566     (380,039)   2,092,472     (769,671)

   INCOME  TAXES (BENEFIT)     464,000     (131,000)     803,000     (235,000)
                            ----------   ----------   ----------   ----------
    NET EARNINGS (LOSS) .  $   745,566  $  (249,039) $ 1,289,472  $  (534,671)
                            ==========   ==========   ==========   ==========
   PER SHARE DATA

EARNINGS (LOSS) PER
 COMMON SHARE                    $0.14       ($0.05)       $0.24       ($0.11)

EARNINGS (LOSS) PER COMMON SHARE
  -ASSUMING DILUTION-DILUTED     $0.14       ($0.05)       $0.24       ($0.11)

</TABLE>
 THE  ACCOMPANYING  NOTES  ARE  AN  INTEGRAL  PART  OF  THESE  STATEMENTS
<PAGE>

                             CIRCUIT  SYSTEMS,  INC.
                               AND  SUBSIDIARIES
                   CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
                                  (UNAUDITED)
<TABLE>

                                                     NINE  MONTHS  ENDED
                                                    1/31/97        1/31/98
                                                 -----------     -----------
<S>                                             <C>           <C>
CASH  FLOWS  FROM  OPERATING  ACTIVITIES:

 NET  EARNINGS  (LOSS)    ...................... $ 1,289,472   $    (534,671)

 ADJUSTMENTS TO RECONCILE NET EARNINGS (LOSS)
  TO NET CASH PROVIDED BY (USED IN) OPERATING
  ACTIVITIES:
   DEPRECIATION   ...............................  2,790,000       3,365,862
   GAIN ON SALE OF PROPERTY & EQUIPMENT  ........     ---               (325)
   DEFERRED  INCOME  TAXES   ....................    113,000         (73,000)
   EQUITY IN EARNINGS OF UNCONSOLIDATED AFFILIATE   (544,031)        (80,291)
     MINORITY INTEREST  IN  LOSS OF  SUBSIDIARY       ---            (61,596)

 CHANGES IN ASSETS AND LIABILITIES, NET OF
   EFFECT OF ACQUISITION
      ACCOUNTS  RECEIVABLE   ....................    495,197      (4,197,423)
      INVENTORIES   .............................   (745,869)     (1,601,878)
      PREPAID  EXPENSES   .......................    (31,654)       (108,618)
      OTHER  ASSETS   ...........................    505,074        (239,150)
      ACCOUNTS PAYABLE & ACCRUED LIABILITIES ....  1,291,687       2,504,733
                                                  ----------     -----------
         TOTAL  ADJUSTMENTS   ...................  3,873,404        (491,686)

       NET CASH PROVIDED BY (USED IN) OPERATIONS   5,162,876      (1,026,357)

CASH FLOWS FROM INVESTING ACTIVITIES
   CAPITAL  EXPENDITURES   ...................... (2,353,355)     (2,442,128)
   INVESTMENT IN CIRCUIT SYSTEMS (INDIA) LIMITED  (1,000,000)         ---
   PROCEEDS FROM SALE OF PROPERTY & EQUIPMENT         ---                325
   MINORITY INTEREST CAPITAL CONTRIBUTION
     TO SUBSIDIARY   ............................     ---                  7
   PAYMENT FOR PURCHASE OF PRINTED CIRCUIT
     BOARD OPERATIONS OF  PHILIPS  ..............     ---        (10,150,000)
                                                  ----------     -----------
         NET CASH USED IN INVESTING ACTIVITIES    (3,353,355)    (12,591,796)

CASH FLOWS FROM FINANCING ACTIVITIES
   NET (PAYMENTS) BORROWINGS UNDER LINE OF CREDIT   (63,879)       9,648,118
      ACQUISITION  OF  STOCK   ..................   (30,625)      (2,833,045)
      PROCEEDS  FROM  LONG - TERM  OBLIGATIONS    1,500,000       11,249,198
      PAYMENTS  ON  LONG - TERM  OBLIGATIONS     (3,152,375)      (3,769,619)

         NET  CASH  (USED  IN)  PROVIDED  BY     -----------     -----------
             FINANCING  ACTIVITIES  ..           (1,746,879)      14,294,652

        EFFECT OF FOREIGN EXCHANGE RATES CHANGES      ---            (34,377)
                                                 -----------     -----------
</TABLE>
<PAGE>

<TABLE>

<S>                                             <C>            <C>
    INCREASE  IN  CASH   .......................      62,642         642,122

    CASH  AT  THE  BEGINNING  OF  THE  PERIOD        243,269         294,204
                                                  ----------     -----------
    CASH  AT  THE  END  OF  THE  PERIOD          $   305,911    $    936,326
                                                  ==========     ===========


SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
    CASH  PAID  DURING  THE   PERIOD  FOR:
      INTEREST   ................................ $1,160,237     $1,674,472
      INCOME  TAXES   ...........................    465,000        350,727

SUPPLEMENTAL SCHEDULE OF NON - CASH INVESTING
   AND  FINANCING  ACTIVITIES:
      CAPITAL  LEASES  FOR  NEW  EQUIPMENT  ..... $1,207,500     $   ---

                           
</TABLE>
 THE  ACCOMPANYING  NOTES  ARE  AN  INTEGRAL  PART  OF  THESE  STATEMENTS
<PAGE>


                          CIRCUIT SYSTEMS,  INC.
                             AND  SUBSIDIARIES

                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                (UNAUDITED)

   1.  These interim Consolidated Condensed Financial Statements  should
       be   read  in   conjunction  with   the  Consolidated   Financial
       Statements  and notes included  in the Company's  April 30,  1997
       Annual Report and Form 10-K.

   2.  In  the  opinion  of  the  Company,  the  accompanying  unaudited
       condensed   consolidated  financial   information  reflects   all
       adjustments  (consisting  only  of  normal  recurring   accruals)
       necessary  for a fair  presentation of  the statements  contained
       herein.

   3.  These  consolidated statements are  presented in accordance  with
       the  requirements of Form 10-Q  and consequently may not  include
       all   disclosures  normally   required  by   generally   accepted
       accounting  principles  normally  made in  the  Company's  Annual
       Report and Form 10-K.

   4.  Effective  July 28,  1997, the  Company, through  its  affiliate,
       Circuit  Systems of  Tennessee, a  Tennessee limited  partnership
       ("CST,  LP"), acquired  the printed  circuit board  operation  of
       Philips  Consumer Electronics Company ("Philips"), a division  of
       Philips  Electronics North America Corporation.  The  acquisition
       consisted  of  inventory,  machinery  and  equipment,  land   and
       building  for an aggregate cost of $10,150,000, including  direct
       costs of acquisition.

             The purchase price was allocated as follow:
                 Inventory              $    670,000
                 Machinery and equipment   5,480,000
                 Building                  3,845,000
                 Land                        155,000
                                         -----------
                                        $ 10,150,000
                                         ===========

       The   purchase  was   funded  through   term  and mortgage  notes
       with  the Company's commercial lender.  The acquisition has  been
       accounted for as a purchase  and  the results of operations  have
       been included  from  the  effective  date  of  the  acquisition. 
       In addition, CST, LP and Philips entered into  a printed  circuit
       board   ("PCB")  purchase  agreement  in   which  CST,  LP   will
       manufacture  and  sell  to Philips  all  of  its  television  PCB
       requirements for North America for a minimum of two years.
      
   5.  Effective November 24, 1997, the  Company acquired certain of the
       PCB assets  of  Zenith Electronics   Corporation  ("Zenith")  for
<PAGE>
       $625,000, which was  funded by a   secured installment note  with
       the Company's  commercial  lender.    The  Company  brought  some
       equipment into  its existing  Elk   Grove Village,  Illinois  and
       Greeneville, Tennessee facilities for use.  During February 1998,
       the Company sold  certain  of the   remaining  equipment as  well
       as certain   equipment   previously  used   in   operations   for
       approximately $550,000, net of   expenses.  The actual  gain/loss
       on the sale has not yet been determined.

       In  addition, the Company and Zenith entered into a PCB  purchase
       agreement  whereby the  Company will supply  Zenith with 100%  of
       the  PCB's which were  previously produced by Zenith's  Kostner's
       Avenue,  Chicago  facility and  a minimum  of  50% of  any  newly
       designed  PCB's for a period of two years, subject to competitive
       pricing requirements.
   
   6.  Effective with  the quarter ended  January 31, 1998, the  Company
       has adopted  the provisions of Statements of Financial Accounting
       Standards No.  128 - Earnings per Share, which requires companies
       to present  basic earnings per  share and if applicable,  diluted
       earnings   per  share,  instead  of  primary  and  fully  diluted
       earnings  per  share.    In  accordance with  the Statement,  all
       prior  periods have been restated.

       The  following  table illustrates  a reconciliation of the  basic
       and  diluted earnings per share calculations:

<TABLE>
                                 THREE MONTHS ENDED        SIX  MONTHS  ENDED
                                       1/31/97                   1/31/97
                               ----------------------    --------------------
<S>                            <C>      <C>             <C>      <C>
Net Earnings                             $    745,566             $ 1,289,472                     
                                         ============              ==========
                                          Per  share              Per  share
                               Shares       amount        Shares     amount
                               ---------  -----------    --------- ----------
Basic Earnings per share       5,318,495    $    0.14    5,320,814   $   0.24
Effect of dilutive securities:
      Stock Options               20,809          --        39,335        --
                               ---------  -----------    --------- ----------
 Diluted Earnings per share    5,339,304    $    0.14    5,360,149   $   0.24
                               =========  ===========    ========= ==========

                                 THREE MONTHS ENDED        SIX  MONTHS  ENDED
                                       1/31/97                   1/31/97
                               ----------------------    --------------------
Net Loss                             $       (249,039)            $  (534,671)                     
                                         ============              ==========
                                          Per  share               Per  share
                               Shares       amount        Shares      amount
                               ---------  -----------    --------- ----------
Basic Earnings per share       5,015,741    $   (0.05)   5,056,792   $  (0.11)
Effect of dilutive securities:
      Stock Options               N/A         N/A           N/A        N/A
                               ---------  -----------    --------- ----------
 Diluted Earnings per share    5,015,741    $   (0.05)   5,056,792   $  (0.11)
                               =========  ===========    ========= ==========
</TABLE>
<PAGE>
                          CIRCUIT  SYSTEMS,  INC.
                            AND  SUBSIDIARIES

                 MANAGEMENT'S  DISCUSSION  AND  ANALYSIS
          OF  FINANCIAL  CONDITION  AND  RESULTS  OF OPERATIONS

  Note:     To the  extent  any statements  in  this Form  10-Q  may  be
  deemed to be  forwardlooking, such statements  should be evaluated  in
  the context of the risks and  uncertainties inherent in the  Company's
  business, including those  risks and  uncertainties set  forth in  the
  Company's Annual Report and Form 10-K for the fiscal year ended  April
  30, 1997.

  Effective July 28, 1997, the  Company, through its affiliate,  Circuit
  Systems of  Tennessee, a  Tennessee limited  partnership ("CST,  LP"),
  acquired the  printed  circuit  board operation  of  Philips  Consumer
  Electronics Company  ("Philips"), a  division of  Philips  Electronics
  North America Corporation.   The acquisition  consisted of  inventory,
  machinery and equipment, land  and building for  an aggregate cost  of
  $10,150,000, including the direct costs of acquisition.  The  purchase
  was  funded  through  term  and  mortgage  notes  with  the  Company's
  commercial lender.    The acquisition  has  been accounted  for  as  a
  purchase and the  results of operations  have been  included from  the
  effective date of the acquisition.

  Reference to "Circuit Systems" in this discussion relates to  Illinois
  operations only.

  The  net  sales  for   the  quarter  ended   January  31,  1998   were
  $18,833,000, increasing by 13% from  $16,624,000 for the same  quarter
  last year.  The increase in sales is  due to inclusion of CST, LP  and
  Circuit Systems (India) Limited  ("CSIL") which represented net  sales
  of $4,685,000  and $256,000,  respectively.   Circuit  Systems'  sales
  accounted for  $14,162,000  or a  decrease  of 15%  when  compared  to
  $16,624,000 for the same  quarter last year.   Circuit Systems'  sales
  have decreased  due to  a softening  of  demand  within  the  current
  customer base.  Net sales to  four individual customers accounted  for
  approximately  62%,   of   which     SigmaTron   International,   Inc.
  ("SigmaTron") and  Philips accounted  for  8% and  17%,  respectively.
  compared to  the  same  period last  year  in  which  three  customers
  including SigmaTron  accounted for  approximately  59% of  net  sales.
  The gross profit for the quarter was $1,522,000 or 8.1% of net  sales,
  compared to $2,828,000  or 17.0%  of net  sales for  the same  quarter
  last year.  Circuit Systems,  CST, LP and CSIL  had a gross profit  of
  8.8%, 5.6%,  and  16.7%, respectively.    The lower  gross  profit  is
  attributed to competitive  pricing, lower sales  volume and  operating
  inefficiencies at Circuit Systems as well  as lower sales volume  from
  CST, LP, for the  three months ended January  31, 1998. The  reduction
  in sales  effected  the  Company's ability  to  cover  fixed  expenses
  associated    with    the     overall    increase    in     production
  equipment/capacity, which caused the decreased gross profit margin.

  The net  sales  for  the  nine months  ended  January  31,  1998  were
  $52,229,000, increasing by  6% from  $49,359,000 for  the same  period
  last year.  The increase in sales is  due to inclusion of CST, LP  and
  CSIL, which  represented  net  sales of    $10,677,000  and  $429,000,
  respectively.  Circuit Systems' sales  accounted for $41,123,000 or  a
  decrease of 17% when compared to $49,359,000 for the same period  last
  year.  Net   sales  to   four  individual   customers  accounted   for
<PAGE>
  approximately 63%, of  which SigmaTron  and Philips  accounted for  8%
  and 15%,  respectively,   compared to  the same  period last  year  in
  which three customers including SigmaTron accounted for  approximately
  56% of net sales.  The gross profit for the nine months ended  January
  31, 1998 was $4,392,000 or 8.4%  of net sales, compared to  $6,859,000
  or 13.9% of net sales for the same period in the prior year.   Circuit
  Systems, CST, LP,  and CSIL  had a gross  profit of  7.0%, 14.3%,  and
  1.7%, respectively.   The  decrease in Circuit Systems sales and gross 
  profit were based on the factors noted in the quarterly discussion.

  Sales and marketing,  and administrative  expenses for  the three  and
  nine months ended  January 31, 1998,  were $1,314,000 or  7.0% of  net
  sales and $3,917,000 or 7.5% of  net sales, respectively, compared  to
  $1,483,000 or 8.9% of net sales  and $4,444,000 or 9.0% of net  sales,
  respectively, for the same periods last year.     The decrease in  the
  expenses as a  percentage of   net sales is  primarily due to  Philips
  sales not being subject to commissions, and a decrease in professional
  fees and bad debt expense. These were partly offset by  administrative
  expenses related to the start-up of CSIL and CST, LP, salaries.

  Other deductions-net for the three and  nine months ended January  31,
  1998,  were  $588,000  and   $1,245,000,  respectively,  compared   to
  $136,000 and  $322,000,  respectively, for  the  same periods  in  the
  prior year.   Interest expense increased  to $679,000 and  $1,695,000,
  respectively,  in   1998,  compared   to  $405,000   and   $1,166,000,
  respectively, for the same periods last year.  The increase is due  to
  the Philip's acquisition and  increased borrowings under the  line-of-
  credit. Rental income increased to $100,000 and $310,000 for the three
  and nine months  ended  January  31,  1998, compared to $91,000  and
  $248,000, respectively  for the same  periods last year.  The increase
  is due to renting additional space at the 2450 E. Lunt location.   The
  equity in the net earnings of the unconsolidated affiliate, SigmaTron,
  decreased to $2,000 and $80,000 for the three   and nine  months ended
  January 31, 1998, compared to $150,000 and $544,000, respectively, for
  the same periods last year. SigmaTron's net sales for the  nine months
  ended January 31, 1998 decreased to $65,534,000 from  $70,087,000  for
  the comparable 1997 period due to a softer demand from some of its key
  customers. The gross profit and net earnings were  negatively impacted
  due  to   the    decrease in net sales, product mix and an increase in
  manufacturing   overhead   cost associated with increasing capacity.
  
  The effective income tax  rate for the nine  months ended January  31,
  1998 is (30.5)%,  compared to  38.4% for  the same  period last  year.
  The lower effective tax rate is due to the inability to recognize  the
  tax effects of certain foreign net operating losses.

  The net loss and diluted loss per share for the three and nine  months
  ended January 31, 1998, were $249,000  or $.05, and $535,000 or  $.11,
  respectively, compared to net earnings and diluted earnings per  share
  of $746,000 or  $.14 and $1,289,000  or $.24, respectively,   for  the
  three and nine months ended in the prior year.

  LIQUIDITY  AND  CAPITAL  RESOURCES

  On November 24, 1997, the Company  acquired certain of the PCB  assets
  of Zenith Electronics Corporation  ("Zenith") for $625,000, which  was
  funded by a  secured installment  note with  the Company's  commercial
<PAGE>
  lender.  The Company brought some equipment into its existing Elk Grove
  Village, Illinois and Greeneville, Tennessee facilities for use.  During
  February 1998, the Company sold certain of the remaining equipment  as
  well  as  certain   equipment  previously  used   in  operations   for
  approximately $550,000, net of expenses.  The actual gain/loss on  the
  sale had not yet  been determined.  In  addition, the Company  entered
  into a printed  circuit board purchase  agreement whereby the  Company
  will supply  Zenith  with 100%  of  the PCB's  which  were  previously
  produced by Zenith's Kostner  Ave, Chicago facility  and a minimum  of
  50% of any newly designed PCB's for a period of two years, subject  to
  competitive pricing requirements.

  The Company's financial requirements were  met through an increase  in
  long-term obligations and borrowings under the line of credit.

  For the nine months  ended January 31, 1998,  the cost of the  Philips
  acquisition  of  $10,150,000,  increase  in  accounts  receivable   of
  $4,197,000, payments on long-term  obligations of $3,770,000,  capital
  expenditures of  $2,442,000, increase  in inventories  of  $1,602,000,
  and the  repurchase of  Company  stock of  $2,833,000 were  funded  by
  proceeds from long-term obligations of $11,249,000, net borrowings  on
  the line of credit of $9,648,000 and the increase in accounts  payable
  and accrued liabilities of $2,505,000.
                         
  During March 1998,  the Company will  complete a mortgage  refinancing
  on four of its  domestic buildings.  The  current mortgages are  under
  five-year  balloon  arrangements.    The  refinanced  mortgages   will 
  be  fifteen year,  fixed rate  loans  and  borrowings will increase by 
  approximately $500,000 when completed.

  The Company  has  purchase  commitments as  of  January  31,  1998  of
  approximately  $1,100,000  for  future  deliveries  of  machinery  and
  equipment and $200,000 for building improvements  to the 2400 E.  Lunt
  Avenue property.    The  Company intends  to  finance  such  purchases
  through collateralized borrowings,  and existing cash flow.

  The  Company's  backlog   at  January  31,   1998,  is   approximately
  $18,135,000 which  includes  approximately  $5,670,000   for  CST,  LP
  (which is primarily product for Philips)   compared to $11,678,000  at
  January 31, 1997.  CST, LP  backlog represents orders scheduled to  be
  shipped  within  approximately  three  months  while  CSI  backlog  is
  scheduled to be  shipped in six  months or less.   The reliability  of
  backlog as  an indicator  of future  sales varies  substantially  with
  makeup of customer orders and  the Company's scheduled production  and
  delivery dates.

  Item 3.  Quantitative and Qualitative Disclosures about Market Risks -
           Not Applicable. 

<PAGE>
                          CIRCUIT  SYSTEMS,  INC.
                             AND  SUBSIDIARIES

                      PART  2  -   OTHER  INFORMATION


   Item  6.     Exhibits and reports on Form 8-K

                (a) Exhibit 27 - Financial Data Schedule (EDGAR version only)

                Refer to Note 6 in Notes to Consolidated Financial Statements
                  for the following restated Financial Data Schedules (EDGAR
                  version only)

                    Exhibit 27.1  Restated Financial Data Schedule - Six months
                                    ended October 31, 1997.

                    Exhibit 27.2  Restated Financial Data Schedule - Three
                                    months ended July 31, 1997.

                    Exhibit 27.3  Restated Financial Data Schedule - Year
                                    ended April 30, 1997.

                    Exhibit 27.4  Restated Financial Data Schedule - Nine
                                    months ended January 31, 1997.


                    Exhibit 27.5  Restated Financial Data Schedule - Year ended
                                    April 30, 1996.

                (b) Reports on Form 8-K

                    There were no reports on Form 8-K filed for the quarter
                    ended January 31, 1998.
                                                                          
<PAGE>

                          CIRCUIT  SYSTEMS,  INC.
                             AND  SUBSIDIARIES

                                SIGNATURES
                                

   Pursuant to the requirements of the Securities Exchange Act of 1934,
   the registrant has duly caused this report to be signed on its behalf
   by the undersigned, registrant's principal financial officer,
   thereunto duly authorized.
                                            
                                            
                                                  Circuit Systems, Inc.
                                                       (registrant)


                                                /s/Dilip  S.  Vyas
                                                ------------------
                                                   Dilip  S.  Vyas
                                            (Principal  Financial Officer)
   March  12, 1998

<PAGE>