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, 2000.

         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.)

  2400 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)              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 29, 2000:  4,591,653

<PAGE>


                           CIRCUIT SYSTEMS, INC.
                             AND SUBSIDIARIES

                                  INDEX


                                                                        Page
                                                                       Number
                                                                       ------
  PART  I.  FINANCIAL INFORMATION

  Item  1.  Financial Statements

                 Condensed Consolidated Balance Sheets                    3

                 Condensed Consolidated Statements of Operations          4

                 Condensed Consolidated Statements of Cash Flows          5

                 Notes to Condensed Consolidated Financial
                   Statements                                             6

  Item  2.  Management's Discussion and Analysis of Financial
            Condition And Results of Operations                           8

  Item  3.  Quantitative and Qualitative Disclosures about Market
              Risks                                                      13


  PART II.  OTHER INFORMATION

  Item  6.  Exhibits and Reports on Form 8-K                             13


  SIGNATURES                                                             14

<PAGE>
<TABLE>
                           CIRCUIT SYSTEMS, INC.
                             AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                               (UNAUDITED)
<CAPTION>
                                                   1/31/00        4/30/99
                                                 ----------     ----------
     <S>                                        <C>            <C>
     ASSETS
     CURRENT ASSETS
         CASH AND CASH EQUIVALENTS              $   390,461    $ 1,463,336
         ACCOUNTS RECEIVABLE, LESS
           ALLOWANCE OF $175,000                 13,161,953     13,048,378
         INVENTORIES
             RAW MATERIALS                        3,450,365      4,007,914
             WORK IN PROCESS                      3,386,147      2,451,106
             FINISHED GOODS                       4,072,114      3,073,442
                                                 ----------     ----------
                                                 10,908,626      9,532,462

             REFUNDABLE INCOME TAXES                181,000        579,000
             DEFERRED INCOME TAXES                  309,000        309,000
             PREPAID EXPENSES                       354,835        103,707
                                                 ----------     ----------
                     TOTAL CURRENT ASSETS        25,305,875     25,035,883


     INVESTMENT IN AFFILIATE                      3,469,709      3,211,083

     PROPERTY, PLANT AND EQUIPMENT - AT COST
         BUILDING AND IMPROVEMENTS               16,412,501     15,206,521
         MACHINERY AND EQUIPMENT                 59,336,738     53,454,625
         AUTOMOTIVE EQUIPMENT                       226,922        226,922
                                                 ----------     ----------
                                                 75,976,161     68,888,068
             LESS ACCUMULATED DEPRECIATION       33,315,119     28,082,923
                                                 ----------     ----------
                                                 42,661,042     40,805,145
                                                 ----------     ----------
             LAND                                 3,040,453      3,040,453
                                                 ----------     ----------
                                                 45,701,495     43,845,598

     OTHER ASSETS
         GOODWILL, NET                           12,717,845      6,487,447
         DEPOSITS AND SUNDRY                      2,034,206      1,335,757
                                                 ----------     ----------
             TOTAL OTHER ASSETS                  14,752,051      7,823,204
                                                 ----------     ----------
             TOTAL ASSETS                       $89,229,130    $79,915,768
                                                 ==========     ==========
<PAGE>
     LIABILITIES AND SHAREHOLDERS' EQUITY
     CURRENT LIABILITIES
         CURRENT MATURITIES OF L/T OBLIGATIONS  $ 8,032,990   $  7,854,208
         ACCOUNTS PAYABLE                        18,199,228      9,252,421
         ACCRUED LIABILITIES                      3,617,197      2,461,738
                                                 ----------     ----------
             TOTAL CURRENT LIABILITIES           29,849,415     19,568,367

     LONG-TERM OBLIGATIONS                       37,409,667     38,136,619
     SUBORDINATED DEBT                            6,409,034      3,375,985
     DEFERRED INCOME TAXES                          885,300      2,556,000
     COMMITMENTS AND CONTINGENCIES                       -              -

     SHAREHOLDERS' EQUITY
         COMMON STOCK                             3,672,415      2,191,168
         RETAINED EARNINGS                       11,003,299     14,087,629
                                                 ----------     ----------
             TOTAL SHAREHOLDERS' EQUITY          14,675,714     16,278,797
                                                 ----------     ----------
             TOTAL LIABILITIES AND
               SHAREHOLDERS' EQUITY             $89,229,130    $79,915,768
                                                 ==========     ==========

      THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE STATEMENTS
</TABLE>
<PAGE>
<TABLE>
                              CIRCUIT SYSTEMS, INC.
                                AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)

                                   THREE MONTHS ENED         NINE MONTHS ENDED

                                  1/31/00     1/31/99      1/31/00     1/31/99
                                ----------  ----------   ----------  ----------
 <S>                           <C>         <C>          <C>         <C>
 NET SALES                     $23,031,379 $20,708,764  $71,310,968 $68,364,060

 COST OF GOODS SOLD             21,181,227  18,744,032   65,981,338  59,266,286
                                ----------  ----------   ----------  ----------
     GROSS PROFIT                1,850,152   1,964,732    5,329,630   9,097,774

 SALES AND MARKETING EXPENSES    1,047,661     898,339    3,287,229   2,536,271
 ADMINISTRATIVE ESPENSES         1,609,931     930,672    4,133,477   2,584,761
 RESTRUCTURING CHARGE                  -           -            -     1,520,000
                                ----------  ----------   ----------  ----------
                                 2,657,592   1,829,011    7,420,706   6,641,032
                                ----------  ----------   ----------  ----------
    OPERATING INCOME (LOSS)       (807,440)    135,721   (2,091,076)  2,456,742

 OTHER (INCOME) DEDUCTIONS
     INTEREST EXPENSE            1,155,024     931,312    3,238,467   2,371,216
     INTEREST RECEIVED                 -       (37,895)         -       (39,733)
     EQUITY IN EARNINGS OF
       UNCONSOLIDATED AFFILIATE    (92,306)    (41,425)    (258,626)   (116,422)
     RENTAL INCOME                (111,424)    (94,347)    (306,542)   (298,867)
     MINORITY INTEREST IN
       LOSS OF SUBSIDIARY              -           -            -       (31,782)
     SUNDRY                         (1,993)   (160,303)     (29,545)   (153,725)
                                ----------  ----------   ----------  ----------
                                   949,301     597,342    2,643,754   1,730,687
                                ----------  ----------   ----------  ----------
 EARNINGS (LOSS) BEFORE
   INCOME TAXES                 (1,756,741)   (461,621)  (4,734,830)    726,055

 INCOME TAX EXPENSE (BENEFIT)     (612,100)   (142,000)  (1,650,500)    305,000
                                ----------  ----------   ----------  ----------
     NET EARNINGS (LOSS)       $(1,144,641) $ (319,621) $(3,084,330) $  421,055
                                ==========  ==========   ==========  ==========

  PER SHARE DATA:

  NET EARNINGS (LOSS)
    PER COMMON SHARE - BASIC       $  (.25)    $ (0.08)     $  (.72)    $   .10
                                    ======      ======       ======      ======

  NET EARNINGS (LOSS)
    PER COMMON SHARE - DILUTED     $  (.25)     $(0.08)     $  (.72)     $  .10
                                    ======      ======       ======      ======

    THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE STATEMENTS

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

<CAPTION>
                                                       NINE MONTHS ENDED
                                                      1/31/00        1/31/99
                                                   -----------     ----------
     <S>                                          <C>             <C>
     CASH FLOWS FROM OPERATING ACTIVITIES:
         NET EARNINGS (LOSS)                      $ (3,084,330)   $   421,055
         ADJUSTMENTS TO RECONCILE NET EARNINGS
           (LOSS) TO NET CASH PROVIDED BY
           OPERATING ACTIVITIES:
                 DEPRECIATION AND AMORTIZATION       5,700,781      4,225,715
                 DEFERRED INCOME TAXES              (1,670,700)       175,000
                 MINORITY INTEREST IN LOSS OF
                   SUBSIDIARY                              -          (31,782)
                 EQUITY IN EARNINGS OF
                   UNCONSOLIDATED AFFILIATE           (258,626)      (116,422)

         CHANGES IN ASSETS AND LIABILITIES, NET
           OF EFFECTS FROM ACQUISITIONS AND
           DIVESTITURE:
                 ACCOUNTS RECEIVABLE                 1,316,303      1,220,094
                 INVENTORIES                        (1,376,164)      (101,811)
                 PREPAID EXPENSES                     (251,128)       467,759
                 OTHER ASSETS                         (697,166)       522,276
                 ACCOUNTS PAYABLE AND ACCRUED
                   LIABILITIES                       9,441,035     (2,989,836)
                                                   -----------     ----------
                     TOTAL ADJUSTMENT               12,204,335      3,370,993
                                                   -----------     ----------
                NET CASH PROVIDED BY OPERATIONS      9,120,005      3,792,048

     CASH FLOWS FROM INVESTING ACTIVITIES:
         CAPITAL EXPENDITURES                       (6,895,452)    (7,626,307)
          BUSINESS ACQUISITIONS, NET OF CASH
            ACQUIRED                                (1,719,000)    (2,751,955)
                                                   -----------     ----------
                 NET CASH USED IN INVESTING
                   ACTIVITIES                       (8,614,452)   (10,378,262)
<PAGE>

     CASH FLOWS FROM FINANCING ACTIVITIES:
         NET BORROWINGS UNDER LINE OF CREDIT         2,000,000      5,016,903
         REPURCHASE OF COMMON STOCK                     (5,640)    (1,357,789)
         PROCEEDS FROM LONG-TERM OBLIGATIONS         2,007,093     11,123,521
         PAYMENTS ON LONG-TERM OBLIGATIONS          (5,579,881)    (8,859,264)
                                                   -----------     ----------
                NET CASH (USED IN) PROVIDED BY
                   FINANCING ACTIVITIES             (1,578,428)     5,923,371


     EFFECT OF FOREIGN EXCHANGE RATE CHANGES               -            7,326
                                                   -----------     ----------
     DECREASE IN CASH                               (1,072,875)      (655,517)

     CASH AT THE BEGINNING OF THE PERIOD             1,463,336      1,531,526
                                                   -----------     ----------
     CASH AT THE END OF THE PERIOD                $    390,461    $   876,009
                                                   ===========     ==========

     SUPPLEMENTAL DISCLOSURES OF CASH FLOW
     INFORMATION:
       CASH PAID (RECEIVED) DURING THE PERIOD FOR:
             INTEREST                             $  3,157,616    $ 2,277,594
             INCOME TAXES                             (206,781)       183,124
     SUPPLEMENTAL SCHEDULE OF NON-CASH
       INVESTING AND FINANCING ACTIVITIES:
             SUBORDINATED DEBT AND COMMON STOCK
               TO SELLERS IN CONJUNCTION WITH
               BUSINESS ACQUISITIONS              $  4,231,000    $ 4,000,000
             ISSUANCE OF COMMON STOCK IN
               SATISFACTION OF LONG-TERM
               OBLIGATION AND ACCRUED INTEREST         961,887            -
             DIVERSTITURE OF NET INVESTMENT IN
               CIRCUIT SYSTEMS (INDIA) LIMITED
               AND CIRCUIT SIGMA INDIA LIMITED
               IN SATISFACTION OF CERTAIN ACCRUED
               LIABILITIES AND REPURCHASE OF
               COMMON STOCK                                -        1,270,049


      THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE STATEMENTS

</TABLE>
<PAGE>
                          CIRCUIT SYSTEMS, INC.
                            AND SUBSIDIARIES

           NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                (UNAUDITED)

   1.       These  interim  Condensed Consolidated  Financial  Statements
      should  be read  in  conjunction  with the  Consolidated  Financial
      Statements  and notes  included in  the  Company's April  30,  1999
      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  condensed  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.    The following  table illustrates a  reconciliation of the  basic
      and diluted earnings per share calculations.
<TABLE>
                                Three Months Ended         Nine Months Ended
                                      1/31/99                   1/31/99
                                      -------                   -------
 <S>                            <C>        <C>          <C>         <C>
 Net Earnings (Loss)                       $(319,621)               $  421,055
                                            ========                 =========
                                   Shares   Per Share      Shares    Per Share
                                               Amount                   Amount
                                ---------   ---------   ---------    ---------
 Basic Earnings (Loss)          4,060,874  $   (0.08)   4,303,799   $     0.10
   per Share
 Effect of Dilutive Securities:
       Stock Options                  N/A        N/A           -            -
                                ---------   ---------   ---------    ---------
 Diluted Earnings (Loss)
   per Share                    4,060,874  $   (0.08)   4,303,799   $     0.10
                                =========   =========   =========    =========

                                Three Months Ended        Nine Months Ended
                                      1/31/00                   1/31/00
                                      -------                   -------
 Net Loss                                  $(1,144,641)            $(3,084,330)
                                            ==========               =========
                                   Shares   Per Share      Shares    Per Share
                                               Amount                   Amount
                                ---------   ---------   ---------    ---------
 Basic Loss per Share           4,591,816  $     (.25)  4,273,509   $     (.72)
 Effect of Dilutive
 Securities:
     Stock Options                    N/A         N/A         N/A          N/A
                                ---------   ---------   ---------    ---------
 Diluted Loss per Share         4,591,816  $     (.25)  4,273,509   $     (.72)
                                =========   =========   =========    =========
</TABLE>
<PAGE>
  5.     The provisions  of Statement of  Financial Accounting  Standards
    No. 130 "Reporting  Comprehensive Income"  requires  that  an  entity
    report, by major components and as a single total, the change in  its
    net assets during the period  from non-shareholder resources.   Total
    comprehensive income  (loss) for  the three  months and  nine  months
    ended   January   31,   2000  was  $(1,144,641)   and   $(3,084,330),
    respectively, and for the three months  and nine months ended January
    31, 1999 was $(319,621)  and $502,041, respectively.

  6.     On  September  10,  1999,  the  Company  acquired  all  of   the
    outstanding  shares of  stock of  Infovision,  Inc.   ("Infovision").
    Infovision  specializes  in  two  markets:    1)   the  rendering  of
    consulting  services and  currently has  approximately  58  full-time
    consultants,  and 2)  the  development and  licensing  of  a  certain
    software  product, which  is  being finalized  for  general  release,
    which documents  a company's ISO  procedures,  with internet/intranet
    capabilities.   The purchase  price of $3,750,000  (plus  acquisition
    costs) consists  of cash of  $1,440,000, subordinated  term  notes of
    $1,785,000 with installment terms ranging from two to five years  and
    $525,000  of the  Company's common  stock. The  cash portion  of  the
    purchase price was funded by a  $1,000,000 increase in the  Company's
    installment note to its commercial lender and the remainder from  its
    line of credit.  The Company's  president/CEO and his wife  owned 14%
    of the Infovision  common stock and affiliates  of the  president/CEO
    owned 36%.

        The acquisition was accounted for under the purchase method.  The
    purchase price, including direct costs of  acquisition, was allocated
    to  the assets  acquired and  liabilities  assumed based  upon  their
    estimated  fair values.   Results  of  operations for  Infovision  is
    included with  those of the  Company since September  10, 1999.   The
    excess of the purchase  price over the net assets acquired,  which is
    approximately $4,517,000,  is being amortized  to operations over  15
    years.

        The fair value of assets acquired, net of liabilities  assumed or
    created is as follows:

                 Current assets                     $  (1,033,000)
                 Furniture and equipment                 (100,000)
                 Purchase price in excess of net
                     assets acquired                   (4,517,000)
                 Liabilities assumed and seller
                     subordinated debt                  3,685,000
                                                     ------------
                 Cash paid and Company common
                     stock issued                   $  (1,965,000)
                                                     ============

        As of the date of  acquisition, in conjunction with  the purchase
    agreement, approximately $962,000 of a pre-existing  note payable and
    accrued interest  due to  the Company's  President/CEO was  converted
    into 460,000 shares of Company stock.

        The prior operating  results of Infovision  were maintained on  a
    cash  basis and  it is  therefore  impracticable to  provide  interim
    proforma results  of operations from the  beginning of the  Company's
    fiscal year on a combined basis.
<PAGE>
  7.     On January 24, 2000, with an effective date of January 1,  2000,
     Infovision acquired  certain assets,  contracts and  intangibles  of
     Project Control Solutions, Inc. ("PCS")  for a total purchase  price
     of $2,200,000 (plus acquistion costs), which was funded  by $279,000
     cash at  closing and  a subordinated  term  note  in  the  amount of
     $1,921,000.   PCS has a wide range of consulting skillsets including
     project management, client/server and web  development.  The company
     is also authorized to resell, train  and implement  Allaire software
     (Cold Fusion and Spectra) products.

         The acquisition was accounted  for under  the  purchase  method.
     The purchase price, including direct costs of acquisition,  has been
     allocated  to  the assets acquired based upon their  estimated  fair
     values.  Results of operations for PCS is included with those of the
     Company since January  1, 2000.   The excess  of  the purchase price
     over the net assets acquired  of approximately $2,175,000, is  being
     amortized to operations over 15 years.

         The fair value of  assets acquired, net  of liabilities  assumed
     or created is as follows:

           Furniture, equipment and software        $     (100,000)
           Purchase price in excess of
             net assets acquired                        (2,175,000)
           Liabilities for costs of acquisition and
             seller subordinated debt                    1,996,000
                                                     -------------
                   Cash paid                        $     (279,000)
                                                     =============

          The prior operating results  of PCS were  maintained on a  cash
     basis and it is therefore impracticable  to provide interim proforma
     results  of operations from  the beginning  of the company's  fiscal
     year on a combined basis.

  8.      At January 31, 2000, the Company was in violation of several of
     its financial  covenants contained in its line of  credit agreement.
     In  conjunction  with  the  cash  infusion and  operational  changes
     described  in Note 9,  the Company's senior  lender agreed to  waive
     these  covenant  violations through  January  2000 and  amended  its
     credit  agreement and  various  covenants to  bring the  Company  in
     compliance.

  9.      On February 15, 2000, the  Company received a cash  infusion of
     approximately  $3,175,000 in  the form  of subordinated  convertible
     notes from three sources: an affiliate  of the  Company's  President
     and CEO, Tribhovan ("Tom") Patel, a  board member, and  an unrelated
     investor.   General terms  of the  notes are:  interest payments (at
     12% per annum) during the first two years of the agreement and fully
     amortizing monthly principal  and  interest payments  over  the next
     three  years  of  the note.   The notes  are convertible into common
     shares of Company  stock during the first two  years at the lower of
     $1.00 per share or the average of the closing price of the stock for
     the ten  days  preceding  the conversion.   In conjunction with  the
     issuance of the  subordinated convertible notes, the Company expects
     to record  a  charge  against  earnings and  corresponding  increase
     in  common  stock  in the  fourth  quarter of  fiscal  year 2000  of
     approximately $1,575,000.   In connection  with this  cash infusion,
     Tom Patel joined the  Company as Executive Vice President and  Chief
     Operating Officer.
<PAGE>

  Item 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
            AND RESULTS OF OPERATIONS

          This  discussion  contains   forward-looking  statements   that
     involve risks  and uncertainties, including Year 2000 matters.   The
     Company's  actual   results  could  differ  materially   from  those
     discussed  herein.  Factors that  could cause or contribute  to such
     differences  include,  but  are  not  limited  to,  those  discussed
     herein,  as well as those  discussed in the Company's  Annual Report
     on Form 10-K  for the year ended April 30, 1999.  Reliance  on these
     forward-looking statements reflect management's  analysis only as of
     the date hereof.   The Company undertakes no obligation  to publicly
     release  the  results  of  any  revision  to  these  forward-looking
     statements,  which may be  made to  reflect events or  circumstances
     after the date hereof or to reflect  the occurrence of unanticipated
     events.   Although the Company  believes the expectations  expressed
     in   such  forward-looking  statements   are  based  on   reasonable
     assumptions  within the bounds of  its knowledge of its  business, a
     number  of factors could cause  actual results to differ  materially
     from  those expressed  in  any forward-looking  statements,  whether
     oral  or written,  made by or  on behalf  of the Company.   Many  of
     these  factors  have  previously  been   identified  in  filings  or
     statements made  by or on behalf of  the Company.  The  Company does
     not intend to update these forward-looking statements.

          Reference to "IL" hereinafter refers to the  Company's Illinois
     operations  only; reference to  "CST" refers  to Circuit Systems  of
     Tennessee;  reference to  "CSIL" refers to  Circuit Systems  (India)
     Limited; reference  to "SVPC" refers to SVPC Circuit  Systems, Inc.;
     reference  to "Infovision"  refers to  Infovision, Inc.,  including,
     from  the date  of  acquisition,  Project  Control Solutions,  Inc.,
     ("PCS").  The results of operations for Infovision are included with
     those  of the Company  since  September 10, 1999.   The  results  of
     operations  for  PCS  are  included  with those of the Company since
     January 1, 2000.

          Net  sales  for  the  quarter  ended  January  31,  2000,  were
     $23,031,000, increasing by 11% when compared  to $20,709,000 for the
     same  quarter  last year.    The net  sales  of  IL, CST,  SVPC  and
     Infovision for fiscal 2000  were $14,549,000, $3,603,000, $3,272,000
     and   $1,607,000,   respectively,   as  compared   to   $15,108,000,
     $3,226,000, $2,375,000  and $0, respectively, for fiscal 1999.   The
     net increase  in sales is comprised of  an increase in CST  sales of
     $377,000  and additional  revenues resulting from  the inclusion  of
     SVPC and  Infovision in fiscal 2000  which was offset by  a decrease
     in IL  sales of $559,000 compared to the  prior year.  Net  sales to
     five  customers accounted  for approximately $12,802,000  or 56%  of
     net sales for  the quarter ended January 31, 2000, compared  to four
     customers  representing approximately  $11,753,000   or  57% of  net
     sales for the same quarter last year.

          Gross profit  for the  quarter was  $1,850,000 or  8.7% of  net
     sales,  compared to $1,965,000  or 9.5%  of net  sales for the  same
     quarter  last year.  The  gross profit (loss) of  IL, CST, SVPC  and
     Infovision for fiscal 2000 were  $1,567,000, $(158,000), $61,000 and
     $380,000,  respectively,  as  compared  to  $1,665,000,  $(160,000),
     $460,000 and $0  for IL, CST SVPC and Infovision,  respectively, for
     fiscal 1999.
<PAGE>
          The net sales for the nine  months ended January 31,  2000 were
     $71,311,000,  increasing  by  4.3% from  $68,634,000  for  the  same
     period  last year.  The  net sales of IL,  CST, SVPC and  Infovision
     for  fiscal  2000  were  $46,796,000,  $12,178,000,  $9,866,000  and
     $2,471,000,  respectively, as compared to  $49,514,000, $15,863,000,
     $2,375,000 and $0,  respectively, for fiscal 1999.  The  fiscal 1999
     sales  also  included revenues  of  $612,000  from CSIL,  which  was
     divested as of July 27, 1998.  The decrease  in  IL and CST sales is
     due  primarily  to  pricing  decreases and  lower  demand  from  the
     current  customer  base.   Net  sales  to  five individual customers
     accounted for approximately 55% in the current  year compared to the
     same period last year in which four customers accounted for approxi-
     mately 61% of net sales.  The gross profit for the nine months ended
     January 31, 2000 was $5,330,000 or 7.5% of net  sales,  compared  to
     $9,098,000 or  13.3% of net sales for  the same period in  the prior
     year.  The gross margin has been impacted by  a reduction in volume,
     continued  pricing pressure  and an  overall  increase in  occupancy
     costs with the addition of a new facility in IL  which began limited
     production  in the  second quarter  of fiscal  year  2000.   Overall
     margins  have  and will  continue  to be  impacted  as a  result  of
     continued   pricing  pressures   driven  by  Far  East  competitors.
     Additionally,  the  gross  margin  at  SVPC  has  been  impacted  by
     increasing  overhead  costs,  including costs related to outsourcing
     certain  core  operations.   It is anticipated that recent equipment
     acquisitions  will  reduce  the  need  for  the  Company's   current
     outsourcing requirements.    Realignment  of  certain  manufacturing
     processes  within  existing facilities   and  the   installation  of
     machinery  and   building  improvements  in  the  new  manufacturing
     facility in IL  continued during the third quarter and will continue
     into the fourth quarter of fiscal 2000.

          Sales and marketing, and administrative expenses for  the three
     and nine months ended January 31, 2000, were  $2,658,000 or 11.5% of
     net  sales and  $7,421,000 or  10.4 %  of  net sales,  respectively,
     compared to $1,829,000  or 8.8% of net sales and $5,121,000  or 7.5%
     of  net sales, respectively, for  the same periods  last year.   The
     increase in  operating expenses is due primarily to  the acquisition
     of  SVPC and  Infovision,  which have  increased these  expenses  by
     $504,000 and $1,990,000 for the three and  nine months ended January
     31, 2000, respectively.
<PAGE>
          Operating expenses for the  nine months ended January  31, 1999
     also  included  a  restructuring charge  of  $1,520,000  (which  was
     recorded in the  first quarter of fiscal year 1999) relating  to the
     reorganization  of  the Company's  management  and plant operations.
     The  majority   of  the  charge  relates  to  severance   and  other
     termination benefits for an executive vice  president and five other
     managers  and  supervisors.   Excluding  the  restructuring  charge,
     income from operations  was $3,977,000 or 5.8% of net sales  for the
     nine  months  ended  January  31,  1999  compared  to  a  loss  from
     operations  of  $2,091,000  or  2.9%  of  net  sales  for  the  nine
     months  ended January 31, 2000.   The income (loss) from operations,
     excluding the restructuring  charge,  for  the  nine  months   ended
     January 31,  of IL,  CST,  SVPC  and Infovision for  fiscal 1999 was
     $1,413,000, $1,118,000, $(11,000) and $0, respectively,  as compared
     to $598,000, $(1,186,000), $(1,641,000)  and $138,000,  respectively
     for  fiscal 2000.   The  fiscal  1999  income  from  operations also
     included an operating loss  for CSIL of $64,000.  In response to the
     fiscal 2000 operating losses, the Company has initiated an extensive
     review of all  of its operations with a focus on improving operating
     efficiencies and reducing costs.

          Other deductions-net  for  the  three  and  nine  months  ended
     January  31,  2000,  were  $949,000  and  $2,644,000,  respectively,
     compared  to $598,000  and $1,731,000,  respectively,  for the  same
     periods  in   the  prior  year.    Interest  expense   increased  to
     $1,155,000  and  $3,238,000,  respectively,  in  2000,  compared  to
     $931,000  and $2,371,000,  respectively, for the  same periods  last
     year.   The  increase is  due to  the SVPC  acquisition in  December
     1998,  the  Infovision  acquisition  in   September  1999,  the  PCS
     acquisition in January 2000, increased borrowings  under the line of
     credit to fund  additional working capital needs and an  increase in
     installment  obligations to  fund equipment  purchases  and the  new
     facility  expansion.    The  equity in  the  earnings  of  SigmaTron
     increased  to  $259,000 for  the  current  nine months  compared  to
     $116,000 for the same period last year.

          The effective income tax rate for the nine months ended January
     31, 2000 is  (34.9)%, compared to the rate for the same  period last
     year of 42.0%.  The lower effective income tax rate is due primarily
     to the increase in pretax loss for CST in fiscal 2000 for which  the
     Company  receives  no  state  tax  benefits,  and  the  inability to
     recognize the tax benefits of state net operating losses at SVPC and
     foreign net operating losses of CSIL (in fiscal 1999).

          The net loss and  diluted loss per share  for the three  months
     and nine months ended January 31, 2000, were $1,145,000 or $.25, and
     $3,084,000  or $.72, respectively, compared  to net earnings  (loss)
     and diluted earnings  (loss) per share for the three and  nine month
     periods in  the prior year of  $(320,000) or $(.08) and  $421,000 or
     $.10, respectively.
<PAGE>
  LIQUIDITY  AND  CAPITAL  RESOURCES

          The Company has historically  financed its operations,  capital
     expenditures,  stock  repurchases   and  debt  payment  requirements
     through  its line  of credit,  other  collateralized borrowings  and
     cash generated from operations.

          The Company's line of credit agreement (as amended)  allows for
     maximum borrowings of $16,000,000 and is limited  to 85% of eligible
     accounts receivable, 50%  to 75% of eligible finished goods  (not to
     exceed  $3,000,000), 40% to 50%  of eligible raw material  inventory
     (not to exceed  $2,000,000) and 60% of the fair market value  of the
     Company's  investment in SigmaTron (not  to exceed $2,000,000).   At
     January  31, 2000, there  was no unused  credit available under  the
     line  of credit.   The agreement  contains certain covenants,  which
     restrict  the amount  of dividends  the Company  could pay,  capital
     stock  redemptions,  and  capital  expenditures.    Other  financial
     covenants pertain  to the maintenance of specified debt  to tangible
     net  worth and debt service  ratios and minimum EBITDA  and tangible
     net  worth as  defined.  At  January 31,  2000, the  Company was  in
     violation  of several of its  financial covenants.    In conjunction
     with  the cash  infusion and  operational changes  noted below,  the
     Company's  senior lender agreed to  waive these covenant  violations
     through January  2000, and amended its credit agreement  and various
     financial covenants to bring the Company into compliance.

          On  September  10,  1999,  the  Company  acquired  all  of  the
     outstanding   shares  of  the  stock   of  Infovision.    Infovision
     specializes  in  two  markets:   1)  the  rendering   of  consulting
     services  and currently  has approximately 58 full-time consultants,
     and  2)  the development  and  licensing   of  a  certain   software
     product,  which  is  being  finalized  for general  release,   which
     documents  a  company's  ISO  procedures,   with   internet/intranet
     capabilities.   The purchase price  of $3,750,000 (plus  acquisition
     costs) consisted  of cash of $1,440,000, subordinated term  notes of
     $1,785,000  with installment terms  ranging from  two to five  years
     and $525,000 of the Company's common stock. The  cash portion of the
     purchase price was funded by a $1,000,000  increase in the Company's
     installment  note to its  commercial lender  and the remainder  from
     its line of credit.  The Company's president/CEO  and his wife owned
     14%   of  the  Infovision  common   stock  and  affiliates  of   the
     president/CEO owned 36% of the Infovision common stock.

          The acquisition  was accounted  for under the purchase  method.
     The  purchase  price, including  direct  costs of  acquisition,  was
     allocated to the assets acquired and  liabilities assumed based upon
     their estimated  fair values.  Results of operations  for Infovision
     is  included with those  of  the  Company since  September 10, 1999.
     The  excess of  the purchase  price over  the  net assets  acquired,
     which is approximately $4,517,000, is  being amortized to operations
     over 15 years.   Subsequent to the acquisition, in  conjunction with
     the purchase  agreement,  approximately $962,000 of  a note  payable
     and  accrued  interest  due  to   the  Company's  President/CEO  was
     converted into approximately 460,000 shares of Company stock.
<PAGE>
          On January 24, 2000, with an effective date of January 1, 2000,
     Infovision  acquired certain  assets, contracts  and intangibles  of
     PCS  for a  total  purchase price  of $2,200,000  (plus  acquisition
     costs),  which  was  funded  by  $279,000  cash  at  closing  and  a
     subordinated term note in the amount of $1,921,000.   PCS has a wide
     range   of  consulting   skillsets  including  project   management,
     client/server  and web development. The  company is also  authorized
     to resell,  train and implement  Allaire software,  (Cold Fusion and
     Spectra) products.

          The acquisition was accounted  for  under the purchase  method.
     The purchase price, including direct costs  of acquisition, has been
     allocated  to  the  assets acquired based  upon their estimated fair
     values.   Results of  operations  for  PCS  is  included  with those
     of the Company  since January 1, 2000.   The excess  of the purchase
     price over the  net assets acquired of approximately $2,175,000,  is
     being amortized to operations over 15 years.

          On February 15, 2000, the  Company received a cash  infusion of
     approximately  $3,175,000 in  the form  of subordinated  convertible
     notes  from three sources:  an affiliate  of the Company's President
     and  CEO,  Tribhovan ("Tom") Patel, a board member, and an unrelated
     investor.   General terms  of the  notes are:  interest payments (at
     12% per annum) during the first two years of the agreement and fully
     amortizing monthly principal  and interest  payments  over  the next
     three years of the note.   The notes are is convertible into  common
     shares of Company  stock during the first two  years at the lower of
     $1.00 per share or the average of the closing price of the stock for
     the ten days preceding the conversion.  In connection with this cash
     infusion,  Tom Patel joined the  Company as Executive Vice President
     and Chief Operating Officer.

            The Company has purchase  commitments as of January  31, 2000
     of approximately  $1,400,000 for future deliveries of  machinery and
     equipment and  building improvements for the Antioch property.   The
     Company  intends to  finance such  purchases through  collateralized
     borrowings  and  existing  cash  flow.  The  amount  of  anticipated
     capital expenditures will frequently change  based on future changes
     in business plans.

            The Company's backlog  at January  31, 2000 is  approximately
     $26,520,000, compared  to $15,127,000 at January 31, 1999.   Backlog
     is  comprised of  orders  for which  artwork  has been  received,  a
     delivery  date  has  been  scheduled   and  the  Company  reasonably
     anticipates  it  will  manufacture  and  deliver  the  order.    The
     majority of the January 31, 2000 backlog is  scheduled to be shipped
     within  approximately 4  months. The  reliability of  backlog as  an
     indicator of  future sales varies substantially with the  make-up of
     customer's  orders  and  the   Company's  scheduled  production  and
     delivery dates.   A significant portion of the Company's  backlog at
     any  time may  be subject  to cancellation  or postponement  without
     penalty.

<PAGE>
      YEAR 2000 COMPLIANCE

            Prior to December  31, 1999, the  Company completed its  Year
     2000  compliance project as  previously discussed  in its 1999  Form
     10-K.

            The  Company  has  completed  its  internal   assessments  of
     operations, equipment, etc. within each of its  plants.  The Company
     also  has completed  the implementation of  its Enterprise  Resource
     Planning ("ERP")  II systems within the  IL and CST operations.   In
     addition,  the  Company  has implemented  a  human  resource/payroll
     software  program  within its  IL  operations effective  January  1,
     2000.   SVPC, CST and Infovision currently outsource  this function,
     but plan to implement the same program in calendar 2000.

            The Company  did  not  experience,  nor  does  it  anticipate
     experiencing any  internal or external interruption to  its business
     activities  or incur any  impairment to  its financial condition  or
     results  of operations  as a result  of passing  into calendar  year
     2000.  Although the Company believes it has  completed its Year 2000
     project  by  upgrading  its  systems,  it  cannot  be  assured  that
     the  upgraded systems will be  free of defects.   If any such  risks
     materialize,   the  Company   could   experience  material   adverse
     consequences  to its business, financial  conditions and results  of
     operations.

            The Company has expended  approximately $850,000 in  external
     costs related to its Year 2000 project  and it anticipates  it  will
     spend  an  additional  $50,000  to  complete  the implementation and
     training of the human resource/payroll software program  within  its
     IL operations.

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

  PART II -   OTHER  INFORMATION

  Item  6.   Exhibits and Reports on Form 8-K

        (a)      Exhibits

           (99) a.  Generic Form of Convertible Subordinated Term Note
                b.  Amendment Number Three to Credit Agreement between
                    registrant and LaSalle Bank National Association
                c.  Employment Agreement of Tribhovan M. Patel.

        (b)      Reports on Form 8-K

                  None.

<PAGE>

                                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/   James E. Robbs
                                       James E. Robbs
                                       Chief Financial Officer
                                       (Principal Financial Officer)


     March 16, 2000