<PAGE>   1


                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q/A

                 [X]  QUARTERLY REPORT UNDER SECTION 13 or 15(d)
                      OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE
                      QUARTERLY PERIOD ENDED DECEMBER 31, 1997

                                       OR

                 [ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d)
                      OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE
                      TRANSITION PERIOD FROM _____ TO _____

Commission File Number 0-23840

                               Micrion Corporation
                               -------------------

              (Exact name of Registrant as specified in its chart)

Massachusetts                                                         04-2892070
-------------                                                         ----------
(State or other jurisdiction of                                 (I.R.S. Employer
incorporation or organization)                               Identification No.)
                                                         
One Corporation Way, Peabody, Massachusetts                           01960-7990
-------------------------------------------                           ----------
(Address of principal executive offices)                              (Zip Code)

                                 (978) 538-6700
                                 --------------
                         (Registrant's telephone number)

Check whether the registrant (1) 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 equity, as of the latest practicable date:

        As of February 1, 1998, the Company had 4,062,799 shares of Common
Stock, no par value, outstanding.



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<PAGE>   2


                               MICRION CORPORATION

<TABLE>
<CAPTION>
PART I.      FINANCIAL INFORMATION                                              Page #
                                                                                ------

<S>                                                                               <C>
   Item 1.   Financial Statements

             Consolidated Balance Sheets - June 30, 1997 and                        3
             December 31, 1997 (unaudited)

             Consolidated Statements of Operations - Three months ended             4
             December 31, 1996 and 1997 (unaudited) and Six months ended
             December 31, 1996 and 1997 (unaudited)

             Consolidated Statements of Cash Flows - Six months ended               5
             December 31, 1996 and 1997 (unaudited)

             Notes to Consolidated Financial Statements - December 31, 1997         6

</TABLE>




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<PAGE>   3


                      MICRION CORPORATION AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                             (UNAUDITED)
                                                                             JUNE 30         DECEMBER 31
ASSETS                                                                         1997              1997
                                                                             -------         -----------
                                                                                  (in thousands)
<S>                                                                          <C>               <C>    
CURRENT ASSETS:
     Cash and cash equivalents                                               $ 2,677           $ 4,023
     Accounts receivable                                                      18,755            18,167
     Inventories (note 3)                                                     24,986            28,850
     Prepaid expenses and other current assets                                   668               784
     Deferred income taxes                                                     1,367             1,367
                                                                             -------           -------
                Total current assets                                          48,453            53,191
                                                                             -------           -------
PROPERTY AND EQUIPMENT, net (note 4)                                           5,821             5,751
OTHER ASSETS, net                                                                110                95
                                                                             -------           -------
                Total assets                                                 $54,384           $59,037
                                                                             =======           =======

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

     Note payable                                                              6,855             3,800
     Current portion of obligations under capital leases                         659               680
     Current portion of long term debt                                             -             1,000
     Accounts payable                                                          7,030             6,462
     Accrued expenses                                                          4,574             3,284
     Accrued warranty expenses                                                 1,212             1,439
     Customer deposits and deferred income                                       251               402
                                                                             -------           -------
                Total current liabilities                                     20,581            17,067
                                                                             -------           -------

OBLIGATIONS UNDER CAPITAL LEASES                                               1,355             1,010
LONG TERM DEBT                                                                     -             7,000

STOCKHOLDERS' EQUITY:
     Preferred stock, no par value; authorized 5,000,000 shares                    -                 -
     Common stock, no par value; authorized 12,300,000 shares                 31,551            31,713
     Retained earnings                                                           877             2,152
     Other equity                                                                 20                95
                                                                             -------           -------
                Total stockholders' equity                                    32,448            33,960
                                                                             -------           -------
                Total liabilities and stockholders' equity                   $54,384           $59,037
                                                                             =======           =======
</TABLE>


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<PAGE>   4

                      MICRION CORPORATION AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                   (UNAUDITED)                            (UNAUDITED)
                                                          Three Months Ended December 31,        Six Months Ended December 31,
                                                          -------------------------------        -----------------------------
                                                              1996               1997                1996               1997
                                                            -------            -------             -------            -------
                                                                        (in thousands except for per share data)
<S>                                                         <C>                <C>                 <C>                <C>    
REVENUES:

     Product revenues                                       $13,117            $14,273             $26,227            $28,876
     Contract revenues                                          277                292                 408                467
                                                            -------            -------             -------            -------
           Total revenues                                    13,394             14,565              26,635             29,343
                                                            -------            -------             -------            -------
                                                                                                                    
COST OF REVENUES:                                                                                                   
     Cost of product revenues                                 7,605              8,267              15,442             17,394
     Cost of contract revenues                                  239                252                 374                419
                                                            -------            -------             -------            -------
           Total cost of revenues                             7,844              8,519              15,816             17,813
                                                            -------            -------             -------            -------
                                                                                                                    
           Gross profit                                       5,550              6,046              10,819             11,530
                                                                                                                    
OPERATING EXPENSES:                                                                                                 
     Selling, general and                                                                                           
        administrative expenses                               2,591              3,119               4,967              5,939
     Research and development expenses                        1,403              1,638               2,714              3,102
                                                            -------            -------             -------            -------
           Total operating expenses                           3,994              4,757               7,681              9,041
                                                            -------            -------             -------            -------
                                                                                                                    
           Income from operations                             1,556              1,289               3,138              2,489
                                                                                                                    
OTHER (EXPENSE) INCOME:                                                                                             
     Interest income                                             55                 34                  91                 92
     Interest expense                                           (83)              (298)               (189)              (578)
     Other                                                        1                (41)                 (1)               (40)
                                                            -------            --------            --------           --------
           Total other (expense) income                         (27)              (305)                (99)              (526)
                                                            --------           --------            --------           --------

           Income before provision                                                                                  
                for income taxes                              1,529                984               3,039              1,963
                                                                                                                    
PROVISION FOR INCOME TAXES                                      536                344               1,064                687
                                                            -------            -------             -------            -------
                                                                                                                    
     Net income                                             $   993            $   640             $ 1,975            $ 1,276
                                                            =======            =======             =======            =======
                                                                                                                    
EARNINGS PER SHARE:                                                                                                 
    BASIC                                                   $   .25            $   .16             $   .49            $   .31
                                                            =======            =======             =======            =======
    DILUTED                                                 $   .24            $   .15             $   .47            $   .29
                                                            =======            =======             =======            =======

WEIGHTED AVERAGE NUMBER OF SHARES:                                                                                  
     BASIC                                                    4,033              4,054               4,033              4,051
                                                            =======            =======             =======            =======
     DILUTED                                                  4,212              4,390               4,167              4,376
                                                            =======            =======             =======            =======
</TABLE>




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<PAGE>   5


                      MICRION CORPORATION AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                        (UNAUDITED)
                                                                                Six months ended December 31,
                                                                                  1996                  1997
                                                                                -------               -------
                                                                                        (in thousands)

<S>                                                                             <C>                   <C>    
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income                                                                 $ 1,975               $ 1,276
     Adjustments to reconcile net income to net cash provided by                                    
       (used in) operating activities:                                                              
        Depreciation and amortization                                               659                   940
        Non-cash compensation                                                         3                     1
        Changes in assets and liabilities:                                                          
           Accounts receivable                                                    1,531                   597
           Inventories                                                             (800)               (3,864) 
           Prepaid expenses and other current assets                               (421)                 (133)
           Accounts payable                                                      (2,741)                 (568)
           Accrued expenses                                                         617                (1,147)
           Provision for warranty expenses                                          292                   229
           Customer deposits and deferred income                                   (198)                  151
                                                                                -------               -------
        Net cash provided by (used in) operating activities                         917                (2,518)
                                                                                -------               -------

CASH FLOWS FROM INVESTING ACTIVITIES:                                                               
     Purchase of property and equipment                                          (2,967)               (1,342)
     Disposition of property and equipment                                            -                   563
     Increase in other assets                                                       (42)                  (75)
                                                                                -------               -------
        Net cash used by investing activities                                    (3,009)                 (855)
                                                                                -------               -------

CASH FLOWS FROM FINANCING ACTIVITIES:                                                               
     Proceeds from capital lease obligations                                      1,463                     -
     Repayments of capital lease obligations                                       (253)                 (325)
     Net borrowings (repayments) from line of credit                              1,355                (3,055)
     Net proceeds from long-term debt issuance                                        -                 7,960
     Issuance of common stock                                                        43                   162
                                                                                -------               -------
        Net cash provided by financing activities                                 2,608                 4,742
                                                                                -------               -------

EFFECT OF EXCHANGE RATE CHANGES ON CASH                                              (9)                  (23)
                                                                                -------               -------

INCREASE IN CASH AND CASH EQUIVALENTS                                               507                 1,346
CASH AND CASH EQUIVALENTS, beginning of period                                    2,081                 2,677
                                                                                -------               -------
CASH AND CASH EQUIVALENTS, end of period                                        $ 2,588               $ 4,023
                                                                                =======               =======
                                                                                                    
SUMMARY OF NON-CASH FINANCIAL TRANSACTIONS:                                                         

     Fixed assets acquired under operating lease                                $     -               $   199
                                                                                =======               =======

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION                                                   
     Cash paid during the period for:                                                               
     Interest                                                                   $   196               $   537
                                                                                =======               =======
     Income taxes                                                               $   700               $   650
                                                                                =======               =======
</TABLE>


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<PAGE>   6





                      MICRION CORPORATION AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                DECEMBER 31, 1997

(1) NATURE OF BUSINESS

Micrion Corporation and its subsidiaries (collectively "the Company") are
engaged in the development, production and marketing of capital equipment used
in the manufacturing and processing of semiconductor and other high technology
devices. During the fiscal quarter ended December 31, 1997, the Company
established Micrion U.K. Ltd., a wholly owned subsidiary, located in Bristol,
England.

(2) BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in accordance
with the instructions to Form 10-Q and Article 2 of Regulation S-X. Accordingly,
they do not include all of the information and footnotes required by generally
accepted accounting principles for complete financial statements. In the opinion
of management, all adjustments (consisting of normal recurring accruals)
considered necessary for fair presentation have been included. The accompanying
financial statements should be read in conjunction with the consolidated
financial statements and footnotes thereto included in the Company's annual
report 10-K filing with the U.S. Securities and Exchange Commission for the year
ended June 30, 1997. The Company's first, second, and third fiscal quarters end
on the Saturday closest to September 30, December 31 and March 31, respectively.
For ease of reference, such quarter end dates are used herein.

(3) INVENTORIES

Inventories consist of:

                                                                   (UNAUDITED)
                                                      JUNE 30,     DECEMBER 31,
                                                        1997           1997
                                                      --------     ------------
                                                           (in thousands)

         Raw materials and manufactured parts, net    $14,430        $14,241
         Work in process                                8,864         10,176
         Finished goods                                 1,692          4,433
                                                      -------        -------
                  Total inventories                   $24,986        $28,850
                                                      =======        =======

 (4) PROPERTY AND EQUIPMENT, NET

Property and equipment consists of:

                                                                   (UNAUDITED)
                                                      JUNE 30,     DECEMBER 31,
                                                        1997           1997
                                                      --------     ------------
                                                           (in thousands)

         Furniture and fixtures                       $   708        $   787
         Computer, engineering and production 
           equipment                                    5,872          6,588
         Sales demonstration systems                      345              -
         Leasehold improvements                           537            573
         Property under capital lease                   3,474          3,464
                                                      -------        -------
                                                      $10,936        $11,412
         Accumulated depreciation and amortization     (5,115)        (5,661)
                                                      -------        -------
                  Net property and equipment          $ 5,821        $ 5,751
                                                      =======        =======



At June 30, 1997 and December 31, 1997, accumulated amortization for property
under capital lease was $1,494 and $1,833, respectively.



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<PAGE>   7

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 thereunto duly authorized.


                                      MICRION CORPORATION
                                          (Registrant)




Date: February 24, 1998               /s/ Nicholas P. Economou
                                      ------------------------------------------
                                      Nicholas P. Economou
                                      President and Chief Executive Officer
                          
                          
                          
Date: February 24, 1998               /s/ David M. Hunter
                                      ------------------------------------------
                                      David M. Hunter
                                      Vice President, Finance and Administration







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