<PAGE>

                                 UNITED STATES

                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C.  20549

                        ------------------------------


                                   FORM 10-Q

      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                             EXCHANGE ACT OF 1934


               For the Quarterly Period Ended February 28, 2001


                          Commission File No. 0-24414


                             RF Monolithics, Inc.

            (Exact name of registrant as specified in its charter)


                        ------------------------------

            Delaware                                            75-1638027
  (State or other jurisdiction of                            (I.R.S. Employer
  incorporation of organization)                              Identification)

     4441 Sigma Road, Dallas, Texas                                75244
(Address of principal executive offices)                        (Zip Code)

Registrant's telephone number, including area code   (972) 233-2903

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.

                    [X] Yes                        [ ]  No

As of March 31, 2001, 6,859,398 shares of the Registrant's Common Stock, $.001
par value, were outstanding.
<PAGE>

                              RF MONOLITHICS, INC.

                                   FORM 10-Q

                        QUARTER ENDED FEBRUARY 28, 2001

                               TABLE OF CONTENTS

 Item
Number                                                                      Page
------                                                                      ----

            Part I.   Condensed CONSOLIDATED Financial Information

  1. Condensed Consolidated Financial Statements:
      Condensed Consolidated Balance Sheets
       February 28, 2001 (Unaudited), and August 31, 2000                     2

     Condensed Consolidated Statements of Operations - Unaudited
      Three Months Ended February 28, 2001 and February 29, 2000
      and Six Months Ended February 28, 2001 and February 29, 2000            3

     Condensed Consolidated Statements of Cash Flows - Unaudited
      Six Months Ended February 28, 2001 and February 29, 2000                4

     Notes to Condensed Consolidated Financial Statements                     5

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

                         PART II.   OTHER INFORMATION

  1. Legal Proceedings

  2. Changes in Securities                                                   17

  3. Defaults Upon Senior Securities

  4. Submission of Matters to a Vote of Security Holders                     18

  5. Other Information

  6. Exhibits and Reports on Form 8-K                                        19

                                  SIGNATURES

                               INDEX TO EXHIBITS

                                      -1-
<PAGE>

             PART I. CONDENSED CONSOLIDATED FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

RF MONOLITHICS, INC.

<TABLE>
<CAPTION>
CONDENSED CONSOLIDATED BALANCE SHEETS
(In Thousands)
----------------------------------------------------------------------------------------------------------------
<S>                                                                 <C>                            <C>
                                                                      February 28,                    August 31,
                                                                         2001                           2000
ASSETS                                                                (Unaudited)

CURRENT ASSETS:
   Cash and cash equivalents                                              $   584                        $   542
   Short-term investments                                                       -                          3,543
   Trade receivables - net                                                  8,601                          9,868
   Inventories                                                             12,205                         11,176
   Prepaid expenses and other                                               1,176                          1,111
   Income taxes receivable                                                      -                          1,342
   Deferred income tax benefits                                             1,020                            756
                                                                          -------                        -------

                 Total current assets                                      23,586                         28,338

PROPERTY AND EQUIPMENT - Net                                               20,119                         14,063

OTHER ASSETS - Net                                                          4,755                          3,366
                                                                          -------                        -------

TOTAL                                                                     $48,460                        $45,767
                                                                          =======                        =======

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
   Current portion of long-term debt and line of credit                   $   735                        $ 6,928
   Accounts payable - trade                                                 5,421                          5,602
   Accounts payable - construction and equipment                              115                            469
   Accrued expenses and other liabilities                                   1,551                          2,314
                                                                          -------                        -------

                 Total current liabilities                                  7,822                         15,313

LONG-TERM DEBT                                                             10,707                             68

STOCKHOLDERS' EQUITY:
   Common stock:   6,861 and 6,208 shares issued                                7                              6
   Additional paid-in capital                                              32,205                         30,562
   Stock warrants                                                             800
   Treasury stock, 36 common shares                                          (227)                          (227)
   Retained earnings (deficit)                                             (2,478)                           474
   Unearned compensation                                                     (376)                          (359)
   Unrealized gain on short-term investments                                    -                            (70)
                                                                          -------                        -------

                 Total stockholders' equity                                29,931                         30,386
                                                                          -------                        -------

TOTAL                                                                     $48,460                        $45,767
                                                                          =======                        =======

See notes to condensed consolidated financial statements.
</TABLE>

                                      -2-
<PAGE>

<TABLE>
<CAPTION>
RF MONOLITHICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
(In Thousands, Except Per-Share Amounts)
---------------------------------------------------------------------------------------------------------------------------------
                                                                 Three Months Ended                      Six Months Ended
                                                                      February                                February
                                                          --------------------------------         ------------------------------
<S>                                                         <C>               <C>                    <C>              <C>
                                                              28, 2001            29, 2000             28, 2001          29, 2000

SALES                                                        $  11,981           $  12,186            $  24,162         $  21,515
COST OF SALES                                                   10,623              10,817               21,449            21,583
                                                             ---------           ---------            ---------         ---------
GROSS PROFIT                                                     1,358               1,369                2,713               (68)
OPERATING EXPENSES:
   Research and development                                      1,121               1,026                2,122             2,257
   Sales and marketing                                           1,538               1,501                2,955             2,997
   General and administrative                                      864                 705                1,573             1,970
                                                             ---------           ---------            ---------         ---------
                 Total operating expenses                        3,523               3,232                6,650             7,224
                                                             ---------           ---------            ---------         ---------
INCOME (LOSS) FROM OPERATIONS                                   (2,165)             (1,863)              (3,937)           (7,292)
OTHER INCOME (EXPENSE):
   Interest income                                                  12                  53                   68               108
   Interest expense                                               (332)               (198)                (613)             (373)
   Other expense                                                    (9)                 (5)                 (61)               (9)
                                                             ---------           ---------            ---------         ---------
                 Total                                            (329)               (150)                (606)             (274)
                                                             ---------           ---------            ---------         ---------
INCOME (LOSS) BEFORE INCOME TAX                                 (2,494)             (2,013)              (4,543)           (7,566)
INCOME TAX (BENEFIT) EXPENSE                                      (873)               (614)              (1,591)           (2,308)
                                                             ---------           ---------            ---------         ---------
NET (LOSS) INCOME                                            $  (1,621)          $  (1,399)           $  (2,952)        $  (5,258)
                                                             =========           =========            =========         =========
EARNINGS PER SHARE
   Basic                                                        $(0.24)             $(0.23)              $(0.45)           $(0.89)
                                                             =========           =========            =========         =========
   Diluted                                                      $(0.24)             $(0.23)              $(0.45)           $(0.89)
                                                             =========           =========            =========         =========
WEIGHTED AVERAGE COMMON
     SHARES OUTSTANDING:
   Basic                                                         6,834               5,983                6,521             5,939
                                                             =========           =========            =========         =========
   Diluted                                                       6,834               5,983                6,521             5,939
                                                             =========           =========            =========         =========
See notes to condensed consolidated financial statements.

</TABLE>

                                      -3-
<PAGE>

<TABLE>
<CAPTION>
RF MONOLITHICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
(In Thousands)
--------------------------------------------------------------------------------------------------------------------------------
                                                                                                    Six Months Ended
                                                                                                         February
                                                                                          --------------------------------------
<S>                                                                                         <C>                   <C>
                                                                                                 28, 2001               29, 2000
OPERATING ACTIVITIES:
   Net (loss) income                                                                            $  (2,952)             $  (5,258)
   Noncash items included in net (loss) income:
      Deferred taxes                                                                               (1,658)                (1,508)
      Depreciation and amortization                                                                 2,481                  2,393
      Provision for doubtful accounts                                                                   -                     46
      Amortization of unearned compensation                                                            91                     62
      Other                                                                                            42                      2
   Cash from (used in) operating working capital:
      Trade receivables                                                                             1,267                  2,075
      Inventories                                                                                  (1,029)                   862
      Prepaid expenses and other                                                                      (65)                   208
      Accounts payable - trade                                                                       (181)                   182
      Accrued expenses and other liabilities                                                         (763)                   (48)
      Income taxes payable/receivable                                                               1,342                   (249)
                                                                                                ---------              ---------
                  Net cash from (used in) operations                                               (1,425)                (1,233)
INVESTING ACTIVITIES:
   Increase in short-term investments                                                              (1,538)                (3,046)
   Decrease in short-term investments                                                               5,081                  4,057
   Acquisition of property and equipment                                                           (8,607)                  (513)
   Disposition of property and equipment                                                              133
   Decrease (increase) in other assets                                                                (30)                  (109)
                                                                                                ---------              ---------
                 Net cash from (used in) investing activities                                      (4,961)                   389
FINANCING ACTIVITIES:
   Repayments of term debt and line of credit                                                     (17,980)                  (505)
   Repayments of capital lease obligations                                                            (47)                  (286)
   Borrowings (repayments) of accounts payable - construction and equipment                          (354)                  (636)
   Borrowings of term debt and line of credit                                                      22,473                  2,298
   Common stock and warrants issued                                                                 1,995
   Common stock issued for options exercised                                                           57                    691
   Common stock issued under the Purchase Plan                                                        284                    160
                                                                                                ---------              ---------
                 Net cash from financing activities                                                 6,428                  1,722
                                                                                                ---------              ---------
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                                       42                    878
CASH AND CASH EQUIVALENTS:
   Beginning of period                                                                                542                    672
                                                                                                ---------              ---------
   End of period                                                                                $     584              $   1,550
                                                                                                =========              =========
SUPPLEMENTAL INFORMATION:
   Interest paid                                                                                $     401              $     373
                                                                                                =========              =========
   Income taxes paid (refunded)                                                                 $  (1,316)             $    (771)
                                                                                                =========              =========
See notes to condensed consolidated financial statements.
</TABLE>

                                      -4-
<PAGE>

RF MONOLITHICS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

1.   INTERIM FINANCIAL STATEMENTS

The accompanying condensed consolidated financial statements include all
adjustments, consisting only of normal recurring adjustments and accruals, that
in the opinion of the management of RF Monolithics, Inc. (the "Company" or
"RFM") are necessary for a fair presentation of the Company's financial position
as of February 28, 2001, and the results of operations and cash flows for the
three and six months ended February 28, 2001 and February 29, 2000. These
unaudited interim consolidated financial statements should be read in
conjunction with the audited financial statements of the Company and the notes
thereto included in the Company's Annual Report on Form 10-K for the year ended
August 31, 2000, filed with the Securities and Exchange Commission.

Operating results for the six months ended February 28, 2001, are not
necessarily indicative of the results to be achieved for the full fiscal year
ending August 31, 2001.

2.   INVENTORIES

Inventories consist of the following (in thousands):

                                                         Feb. 28,    Aug. 31,
                                                          2001        2000

     Raw materials and supplies                          $  6,518    $  6,362
     Work in process                                        3,705       2,631
     Finished goods                                         1,982       2,183
                                                         --------    --------
     Total                                               $ 12,205    $ 11,176
                                                         ========    ========

3.   PROPERTY AND EQUIPMENT

Property and equipment includes construction in progress of $981,000 at February
28, 2001, and $1,059,000 at August 31, 2000, which is composed of equipment and
other assets not yet placed in service primarily related to increasing the
capacity of the Company's manufacturing facilities.

4.   CREDIT FACILITIES

In December 2000, the Company entered into an agreement with a commercial bank
for a new credit facility consisting of a $13.5 million revolving credit
facility and a $3.0 million term note. Included in the revolving credit facility
is an $8.0 million loan that is supported by the Export/Import bank (Exim bank).
Both facilities terminate on December 31, 2003. The proceeds of $11.1 million
from these new loans, the sale of approximately $3.6 million in short term
investments and $1.2 million proceeds from an income tax refund were used to pay
off approximately $6.9 million for the revolving credit facility that was in
effect as of

                                      -5-
<PAGE>

November 30, 2000, and $8.8 million in obligations related to the equipment-
collateralized operating lease facility that was also in effect as of November
30, 2000. As a result, the Company completely satisfied its obligations to its
former bank and acquired approximately $8.3 million in capital assets that had
formerly been utilized under operating leases. The amount of debt under the new
agreement that the Company does not expect to pay off within the next twelve
months has been classified as long term.

The structure of the new banking agreement ties amounts borrowed under the
agreement to a borrowing base consisting of certain receivables, inventory, and
fixed assets. Essentially all the assets of the Company, tangible and
intangible, are pledged as collateral under both facilities. The term loan
requires equal monthly payments of principal totaling $50,000 plus interest
beginning January 2001. The interest rate for both facilities is 2% over prime
rate. As part of the agreement, the bank was given a ten-year warrant to
purchase 30,000 shares of the Company's common stock at $5.00 per share. This
new credit facility contains financial covenants relating to various matters,
including but not limited to, minimum net worth, year-to-date and monthly
earnings, and limitations on changes in corporate structure, and restrictions on
dividends and capital spending. In March of 2001, the Company amended the
banking agreement in an effort to relax those covenants in return for a one-time
fee of $80,000. Although the Company believes that it will be able to meet the
amended covenants, there is no assurance that this will occur. Should there be a
covenant violation without a waiver on favorable terms, there could be a
significant adverse impact on the Company's operations. To move manufacturing
equipment to support the offshore manufacturing initiative, it will be necessary
to pay off the portion of the term note related to the equipment being moved.
There is no assurance that this can be accomplished on favorable terms. Should
that not occur, there could be a slowdown in the Company's plans to expand
offshore production.

5.   CAPITAL STOCK

During the second quarter of the fiscal year, in accordance with the Company's
1999 Equity Incentive Plan the Company granted to certain employees and a
consultant Non-qualified Stock Options to purchase 149,500 shares of common
stock at an exercise price ranging between $3.8125 and $5.00, which was equal to
the fair value of the common stock at the date of grant. Also, during the second
quarter of the fiscal year, in accordance with the Company's 1997 Equity
Incentive Plan, the Company granted to certain employees restricted stock for
26,000 shares of the Company's common stock and Incentive Stock Options to
purchase a total of 10,000 shares of common stock. These grants were made at
exercise prices of $3.875 and $5.00, respectively, which was equal to the fair
value of the common stock at the date of grant. On January 2, 2001, in
accordance with the Company's 1994 Stock Option Plan, non-employee directors
were granted Non-qualified Stock Options to purchase a total of 18,000 shares of
common stock at an exercise price of $4.875, which was equal to the fair value
of the common stock at the date of grant.

During the second quarter of the fiscal year, the Company entered into an
agreement to raise approximately $2,000,000 in cash by the sale of common stock
and warrants to purchase common stock. The sale consisted of 533,332 units. Each
unit was sold at a price of $3.75 and consisted of one share of common stock and
a three-year warrant to purchase one share of common stock at $7.50. The
warrants are valued at approximately $714,000 and are classified as Stock
warrants in Stockholder Equity. The agreement called for certain restrictions on
the sale or further acquisition of stock by the investors, as well as the right
to require registration in the future. The proceeds of the sale of this stock
will be used to support the operations of the Company.

                                      -6-
<PAGE>

6.   SALES REVENUE

The following table sets forth the components of the Company's sales and the
percentage relationship of the components to sales by product area for the
periods ended as indicated (in thousands, except percentage data):

<TABLE>
<CAPTION>
                                        Three Months              Six Months       |      Three Months               Six Months
                                       Ended February           Ended February     |     Ended February            Ended February
                                   ---------------------    ---------------------  | ----------------------   ----------------------
                                    28, 2001    29, 2000     28, 2001    29, 2000  |  28, 2001    29, 2000     28, 2001    29, 2000
                                   ---------   ---------    ---------   ---------  | ----------  ----------   ----------  ----------
<S>                                <C>         <C>          <C>         <C>          <C>         <C>          <C>         <C>
Low-power Product Group:                                                           |
 Low-power components              $   6,621   $   7,832    $  14,423   $  14,256  |       55 %        64 %         60 %        66 %
 Virtual Wire(R) radio products        2,422       2,194        4,755       3,719  |       20          18           20          17
                                   ---------   ---------    ---------   ---------  | --------    --------     --------    --------
   Subtotal                            9,043      10,026       19,178      17,975  |       75          82           80          83
                                   ---------   ---------    ---------   ---------  | --------    --------     --------    --------
Communications Products Group:                                                     |
 Frequency control modules               803         540        1,452       1,028  |        7           4            6           5
 Filters                               2,028       1,522        3,184       2,301  |       17          13           13          11
                                   ---------   ---------    ---------   ---------  | --------    --------     --------    --------
   Subtotal                            2,831       2,062        4,636       3,329  |       24          17           19          16
                                   ---------   ---------    ---------   ---------  | --------    --------     --------    --------
Total Product Sales                   11,874      12,088       23,814      21,304  |       99          99           99          99
Technology development sales             107          98          348         211  |        1           1            1           1
                                   ---------   ---------    ---------   ---------  | --------    --------     --------    --------
Total Sales                        $  11,981   $  12,186    $  24,162   $  21,515  |      100%       100 %        100 %       100 %
                                   =========   =========    =========   =========  | ========    ========     ========    ========
</TABLE>


7.   DEFERRED TAX ASSET

The Company's deferred tax asset of approximately $5.2 million at February 28,
2001 is primarily due to the tax effect of unused net operating loss
carryforwards ("NOL's"), tax credit carryforwards and tax effected net taxable
deductions.

There is no reserve against this asset. As of February 28, 2001, the Company has
NOL's of approximately $8.7 million for federal income tax purposes. While the
Company believes it is likely that it will realize these carryforwards, there
can be no assurance they will be available to such extent and be fully realized.

                                      -7-
<PAGE>

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

     The following discussion may be understood more fully by reference to the
financial statements, notes to the financial statements, and management's
discussion and analysis contained in the Company's Annual Report on Form 10-K
for the year ended August 31, 2000, filed with the Securities and Exchange
Commission.

General

     RFM designs, develops, manufactures and markets a broad range of radio
frequency components and modules. The Company's products are organized into two
Product Groups, the Communications Products Group and the Low-power Products
Group. The Communications Products Group includes Frequency Control Modules and
Filter products. The Low-power Products Group includes Low-power Components, as
well as Virtual Wire(R) Short-range Radio products. The Company's products are
based on SAW technology, and the Company's strategy is to leverage its radio
frequency design skills and its packaging technology to provide SAW-based
solutions to the current and emerging needs of the electronics industry. The
Company sells to original equipment manufacturers and distributors in wireless
communications, optical networks, automotive, consumer and industrial market
segments worldwide.

     The Company incurred a significant loss in the first quarter and second
quarter of its fiscal year 2001. As a result, it does not expect to overcome
these losses this year and anticipates reporting a loss for fiscal year 2001.

Results of Operations

     The following discussion relates to the financial statements of the Company
for the three months and six months ended February 28, 2001 (current quarter and
current year-to-date period), of the fiscal year ending August 31, 2001, in
comparison to the three months and six months ended February 29, 2000
(comparable quarter of the prior year and prior year-to-date period). In
addition, certain comparisons with the three months ended November 30, 2000
(previous quarter), are provided where management believes it is useful to the
understanding of trends.

     The selected financial data for the periods presented may not be indicative
of the Company's future financial condition or results of operations.

                                      -8-
<PAGE>

     The following table sets forth, for the three months and six months ended
February 28, 2001 and February 29, 2000, (i) the percentage relationship of
certain items from the Company's statements of operations to sales and (ii) the
percentage change in these items between the current period and the comparable
period of the prior year:

<TABLE>
<CAPTION>

                                                Percentage of Total Sales                           Percentage Change From
                                   --------------------------------------------------------   --------------------------------------
                                      Three Months                      Six Months          |    Three Months         Six Months
                                      Ended February                 Ended February         |   Ended February      Ended February
                                   --------------------------   --------------------------- | -----------------    -----------------
                                     28, 2001       29, 2000      28, 2001       29, 2000   |    2000 to 2001         2000 to 2001
                                   ------------   -----------   -----------    ------------ | -----------------    -----------------
<S>                                <C>            <C>           <C>            <C>            <C>                  <C>
Sales                                     100 %         100 %         100 %           100 % |              (2)%                 12 %
Cost of sales                              89            89            89             100   |              (2)                  (1)
                                     --------      --------      --------        --------   | -----------------    -----------------
  Gross profit                             11            11            11               -   |              (1)               4,090
                                     --------      --------      --------        --------   | -----------------    -----------------
Research and development                    9             8             9              11   |               9                   (6)
Sales and marketing                        13            12            12              14   |               2                   (1)
General and administrative                  7             6             6               9   |              23                  (20)
                                     --------      --------      --------        --------   | -----------------    -----------------
  Total operating expenses                 29            26            27              34   |               9                   (8)
                                     --------      --------      --------        --------   | -----------------    -----------------
  Income (loss) from operations           (18)          (15)          (16)            (34)  |              16                  (46)
Other income (expense), net                (3)           (1)           (3)             (1)  |             119                  121
                                     --------      --------      --------        --------   | -----------------    -----------------
Income (loss) before income taxes         (21)          (16)          (19)            (35)  |              24                  (40)
Income tax (benefit)expense                (7)           (5)           (7)            (11)  |              42                  (31)
                                     --------      --------      --------        --------   | -----------------    -----------------
  Net (loss)income                        (14)%         (11)%         (12)%           (24)% |              16 %                (44)%
                                     ========      ========      ========        ========   | =================    =================
</TABLE>

Sales

     The following table sets forth the components of the Company's sales and
the percentage relationship of the components to sales by product area for the
periods ended as indicated (in thousands, except percentage data):

<TABLE>
<CAPTION>
                                                        Amounts                                           % of Total
                                   -----------------------------------------------   -----------------------------------------------
                                        Three Months               Six Months             Three Months                 Six Months
                                       Ended February            Ended February          Ended February              Ended February
                                   -----------------------------------------------   ----------------------------------------------
                                    28, 2001     29, 2000     28, 2001    29, 2000 |  28, 2001   29, 2000     28, 2001   29, 2000
                                   ----------------------------------------------- | ----------------------------------------------
<S>                                <C>         <C>          <C>         <C>          <C>        <C>          <C>        <C>
Low-power Product Group:                                                           |
  Low-power components             $   6,621   $   7,832    $  14,423   $  14,256  |      55 %       64 %         60 %       66 %
  Virtual Wire(R) radio products       2,422       2,194        4,755       3,719  |      20         18           20         17
                                   ---------   ---------    ---------   ---------  | ---------  ---------    ---------  ---------
     Subtotal                          9,043      10,026       19,178      17,975  |      75         82           80         83
                                   ---------   ---------    ---------   ---------  | ---------  ---------    ---------  ---------
Communications Products Group:                                                     |
  Frequency control modules              803         540        1,452       1,028  |       7          4            6          5
  Filters                              2,028       1,522        3,184       2,301  |      17         13           13         11
                                   ---------   ---------    ---------   ---------  | ---------  ---------    ---------  ---------
     Subtotal                          2,831       2,062        4,636       3,329  |      24         17           19         16
                                   ---------   ---------    ---------   ---------  | ---------  ---------    ---------  ---------
Total Product Sales                   11,874      12,088       23,814      21,304  |      99         99           99         99
Technology development sales             107          98          348         211  |       1          1            1          1
                                   ---------   ---------    ---------   ---------  | ---------  ---------    ---------  ---------
Total Sales                        $  11,981   $  12,186    $  24,162   $  21,515  |     100 %      100 %        100 %      100 %
                                   =========   =========    =========   =========  | =========  =========    =========  =========
</TABLE>

     Total sales decreased 2% in the current quarter compared to the comparable
quarter of the prior year and the previous quarter. The decrease was primarily
due to a reduction in the number of units sold for Low-

                                      -9-
<PAGE>

Power Components. The reduction in number of units sold was due to a temporary
reduction in manufacturing capacity that resulted from the need to transition
equipment and wafer fabrication capacity to support offshore production.
Offsetting the decrease in Low-Power Components were increases in sales over the
comparable quarter of the prior year and the previous quarter for all other
product lines. These increases were due to an increase in the number of units
sold for newer products that the Company had been introducing into the market
for some time. The Company plans to continue to increase sales of new products
in future periods, although success in doing this is not certain.

     Sales for the current year-to-date period increased 12% over the prior
comparable year-to-date period. The increase was primarily due to a management
decision in the prior year's first quarter to limit special promotions to obtain
turns business because of the potential impact such promotions have on long-term
gross margins. This resulted in a substantial increase in the number of units
shipped for each of the Company's product lines.

     Low-Power Component sales in the current quarter declined 16% from the
comparable quarter of the prior year and 15% from the previous quarter. The
decrease was primarily due to a reduction in the number of units sold resulting
from a temporary reduction in manufacturing capacity. This reduction in
manufacturing capacity largely resulted from a management decision to transition
equipment and wafer fabrication capacity away from domestic capacity to support
a build up in production capacity for offshore production. In addition, there
were some continuing labor shortages that limited production in the quarter. The
company reached full staffing levels in the last month of the quarter. Late in
the quarter, production rates for Low-Power Components returned to historical
levels, so the temporary reduction in manufacturing capacity for Low-Power
Component products is not anticipated in future periods. The Company believes it
has the opportunity to increase its Low-Power Component sales to historical
levels, although there is no assurance that this will happen. Average selling
prices for these products remained stable, although there is no assurance that
this will continue in this competitive market. As a result, sales for Low-Power
Components may not increase or return to the levels they had been in previous
periods.

     Virtual Wire(R) Short-range Radio products sales in the current quarter
increased 10% in comparison to the comparable quarter of the prior year and 4%
from the previous quarter. This was primarily attributable to an increased
number of units sold for those products. Approximately one third of the sales
were for first generation products and the rest were second generation products.
The Company has devoted significant capital, technical, sales and marketing
resources to the Virtual Wire(R) Short-range Radio products, and has experienced
increased orders for these products in recent quarters. The current Company
focus is to ramp its capacity to produce these products. The Company could have
had significantly larger sales if all potential customer orders, for the
quarter, had been shipped. The Company is attempting to build domestic capacity
via process improvements and conversion of capacity to new products as
production of other products is reduced or moved offshore. There is no assurance
that the Company will be able to put in place all the capacity required to meet
customer demand for these products, or that the customer demand for these
products will continue.

     Sales of Filter products in the current quarter increased 33% from the
comparable quarter of the prior year and 75% from the previous quarter due to an
increased number of units shipped. The increased number of units shipped
included substantial shipments to a new telecom customer. The unusually large
increase from the previous quarter resulted from relatively low shipments in the
first quarter that resulted from delayed shipments from an offshore assembler.
The offshore filter assembler caught up to customer demand in the second
quarter. The Company is working very closely with its offshore partners, but
there is no assurance that sufficient offshore production capacity will be
available to meet customer demand. The Company has devoted significant resources
to developing and supporting the growth of its Filter products. The product
development and introduction cycle for Filter products takes six to eighteen
months to complete.

                                      -10-
<PAGE>

As a result, it is difficult to predict when, or if, this strategy to focus on
Filter products will have a significant impact on the Company's sales.

     Sales of Frequency Control products in the current quarter increased 49%
from the comparable quarter of the previous year and 24% from the previous
quarter primarily due to an increased number of units sold. Sales were
particularly strong for clock oscillator products to high-end computer
customers. Sales of the Company's new optical timing products continued, but
were at somewhat lower levels as customers wait for the surface mount version to
be available. The Company believes its new line of optical timing products will
provide a significant sales opportunity, particularly after a surface mount
version is introduced later in the year. The timing and impact of these new
products is too uncertain to assure that increased sales will result.

     The Company's top five customers accounted for 35%, 36% and 33% of the
Company's sales in the current quarter, the comparable quarter of the prior year
and the previous quarter, respectively. Distribution related customers accounted
for 20%, 26% and 23% of the Company's total sales in the current quarter, the
comparable quarter of the prior year and the previous quarter, respectively. One
single customer accounted for 10% or more of sales for the current quarter and
comparable quarter of the prior year and the previous quarter. The company's
sales strategy is to seek diversification in its customer base, and believes
that diversification is the reason that new order levels have not declined
significantly in recent quarters. However, due to the very competitive nature of
the markets in which it competes, the Company is not certain it will be able to
continue to achieve this diversification.

     International sales were 51%, 67% and 50% of the Company's sales during the
current quarter, the comparable quarter of the prior year and the previous
quarter, respectively. The Company believes that the decrease in the portion of
sales from international sources in the current quarter compared to the prior
year is due to a shift in specific customer delivery patterns, rather than any
known geographic shift in it's markets. The Company considers all product sales
with a delivery destination outside of North America to be international sales.
These sales are denominated primarily in U.S. currency. The Company intends to
continue its focus on international sales in the future and expects that
international sales will continue to represent a significant portion of its
business. However, international sales are subject to fluctuations as a result
of local economic conditions and competition. Therefore, the Company cannot
predict whether it will continue to derive a significant portion of its business
from international sales.

     While the Company has achieved sales increases in prior periods, there can
be no assurance that this can be achieved in future periods. The Company's
success is highly dependent on achieving technological advances in its product
design and manufacturing capabilities, as well as its ability to sell its
products in a competitive marketplace that can be influenced by outside factors
such as economic and regulatory conditions. Competition includes alternative
technologies and competitors duplicating the Company's technologies that may
adversely affect the selling prices and market share.

Gross Profit

     The current quarter gross margin of 11.3% increased from 11.2% in the
comparable quarter of the prior year and 11.1% gross margin in the previous
quarter. The current quarter was favorably impacted by a change in mix towards
relatively more profitable communications product sales and a decrease in first
generation Virtual Wire(R) products, as well as continuing improvement in
yields. However, the quarter was negatively impacted by approximately $400,000
(or 3.3% of sales) in additional overhead expenses incurred to support the
transition of selected assembly operations offshore and incremental overtime and
training expenses incurred at Dallas facilities to offset capacity lost due to
transfer of resources and materials offshore.

                                      -11-
<PAGE>

     The current year-to-date gross margin was 11.2 %, which is a significant
increase from the negative gross margin of .3% last year. The increase from the
comparable quarter of the prior year was primarily due to the fact that gross
margins were a negative 15.4% in last year's first quarter due to very low
sales, special charges and very low yields and productivity in that period.
Current year costs are more in line with historic costs per unit.

     For more than a year, the Company has been working on a recovery plan
intended to bring the Company back to profitability. A primary element of that
plan includes programs intended to improve gross margins. A number of these
programs are directed at increasing manufacturing capacity to take advantage of
sales bookings that have significantly exceeded actual sales shipments for the
past year. The programs also included a recruiting campaign to fully staff the
Dallas facilities, which was completed late in the quarter. Another program
involved working with offshore partners to ramp up their production. This has
started to have an impact as 13% of current quarter sales were for products that
were assembled offshore. The Company expects that offshore production will
increase to approximately 20% and 30% of total sales in the next two quarters,
respectively. The combination of increased Dallas and offshore manufacturing
capability is expected to significantly increase manufacturing capacity,
although there can be no certainty that this will be achieved. If significantly
increased manufacturing capacity results in significantly greater sales, this
would not only result in additional gross margin at the same gross margin rate,
it would increase the gross margin rate itself. This is because the Company
incurs a large amount of fixed manufacturing cost that could be spread over
additional units, reducing cost per unit.

     The Company believes a successful offshore manufacturing program could
result in a material reduction in manufacturing costs. The Company plans to
phase in the transition of products over several quarters to insure
uninterrupted product delivery to customers. In the short term, the Company is
incurring additional costs as mentioned above, but those costs are expected to
diminish as the transition progresses. As a result, the full benefit of the
offshore program is not expected until fiscal year 2002. Given the complexities
of the manufacturing processes involved, there can be no assurance that the
offshore program will be successful.

     Other programs of the recovery plan have been implemented to improve gross
margins. A focused program to improve yields and productivity within the
existing facilities by implementing process improvements has been in place for
some time and the Company has experienced improvements in its high volume
assembly lines. Management intends to continue this focus on improved
operations, although there can be no assurance these efforts will result in
lower per unit costs. The Company's sales and marketing strategy has been to
introduce new communications and second generation Virtual Wire(R) products that
are intended to have better gross margins than older products due to what the
Company believes are the technical advantages these products offer to customers.
In additional, less profitable first generation Virtual Wire(R) products are no
longer being marketed. In future periods, the impact of this product strategy is
expected to be a gradual improvement in gross margins resulting from the changes
in product mix. There is, however, no certainty that this will take place. In
future quarters, costs related to certain manufacturing equipment will be
reduced $150,000 to $200,000 per quarter as a result of the refinancing of some
manufacturing equipment that occurred in the second quarter of fiscal year 2001.

     The recovery plan that the Company has implemented is intended to
significantly increase gross margins in future periods. However, there are many
elements to the recovery plan that need to be accomplished for it to be
successful. It is uncertain when, if ever, the recovery plan will be successful.

     The Company has in the past experienced sudden increases in demand, which
have put pressure on its manufacturing facilities to increase capacity to meet
this demand. In addition, new products sometimes require different manufacturing
processes than the Company currently possesses. The Company has devoted

                                      -12-
<PAGE>

the bulk of its capital expenditures over the past few years to increase
capacity and improve its manufacturing processes. It has also devoted
significant resources to developing offshore manufacturing partnerships to
increase the manufacturing capacity. The Company may not be able to continue to
increase its manufacturing capacity and improve its manufacturing processes in a
timely manner so as to take advantage of any increased market demand. Failure to
do this would result in a loss of potential sales in the periods impacted.

Research and Development

     Research and development expenses in the current quarter increased
approximately $100,000, or 9%, from the comparable quarter of the prior year,
primarily due to increased personnel costs. The Company believes that the
continued development of its technology and new products is essential to its
success and is committed to continue to devote significant resources to research
and development. The Company expects that research and development expenses may
increase or stay approximately the same in absolute dollars in future periods.

Sales and Marketing

     Current quarter sales and marketing expenses were approximately the same as
last year's comparable quarter. The Company expects to incur higher sales and
marketing expenses in absolute dollars in future periods, particularly for sales
commission expenses, as it continues to expand its sales and marketing efforts.

General and Administrative

     General and administrative expenses for the current quarter increased
approximately $160,000, or 23%, from the prior comparable period. This increase
mainly resulted from increased expenses related to a 401(k) matching program and
expenses related to various employee stock programs offered in lieu of annual
cash compensation adjustments. Year-to-date expenses were approximately $400,000
lower than last year resulting from approximately $600,000 in severance costs
related to work force reductions that occurred in the prior year that did not
recur in the current year. The Company expects general and administrative may
increase or stay approximately the same in absolute dollars in future periods.

Loss from Operations

     Loss from operations was $2.2 million, or 18% of total sales in the current
quarter, compared to loss from operations of $1.9 million or 15% of sales in the
comparable quarter of the prior year, primarily resulting from increased
operating expenses. Year-to-date loss from operations was $3.9 million, an
improvement from a loss of $7.3 million in the prior year-to-date period. The
improvement in loss from operations results from both an increase in gross
margin and a reduction in operating expenses.

Other Income (Expense)

     Total other expenses were $329,000 in the current quarter, compared to
$150,000 for the comparable quarter of the prior year. The increase in total
other expenses primarily results from decreased interest income on investments
and increased interest expenses as a result of increased borrowings,
particularly after the refinancing that occurred in the current quarter. As a
result, total other expenses are expected to increase or stay approximately the
same in absolute dollars in future periods, depending on borrowing levels. This
increased expense is mostly offset by a reduction in manufacturing expense, as
mentioned above.

Income Tax Benefit

     The Company's income tax benefit was $873,000 in the current quarter,
compared to income tax benefit of $614,000 in the comparable quarter of the
prior year, reflecting the comparable loss before income taxes for the
respective periods. The company's effective tax benefit rate was approximately
35% in the

                                      -13-
<PAGE>

current quarter, compared to approximately 31% in the prior year reflecting
decreased impact from a Foreign Sales Corporation.

Net Loss

     The net loss was $1.6 million, or $.24 per diluted share, in the current
quarter, compared to net loss of $1.4 million, or $.23 per diluted share, for
the comparable quarter of the prior year, reflecting increased operating
expenses and increased non-operating expenses. The current year-to-date net loss
was $3.0 million, compared to a loss of $5.3 million in the comparable year-to-
date period, primarily as a result of increased gross margin and reduced
operating expenses. As a result of losses in the first two quarters, the Company
does not expect to overcome this and anticipates it will report a loss for
fiscal year 2001.


Financial Condition

New Financing Arrangements

     In December 2000, the Company entered into an agreement with a commercial
bank for a new credit facility consisting of a $13.5 million revolving credit
facility and a $3.0 million term note. Included in the revolving credit facility
is an $8.0 million loan that is supported by the Export/Import bank (Exim bank).
Both facilities terminate on December 31, 2003. The proceeds of $11.1 million
from of these new loans, the sale of approximately $3.6 million in short term
investments and $1.2 million proceeds from an income tax refund were used to pay
off approximately $6.9 million for the revolving credit facility and $8.8
million in obligations related to the equipment-collateralized operating lease
facility that were in effect as of November 30, 2000. As a result, the Company
completely satisfied its obligations to its former bank and acquired
approximately $8.3 million in capital assets that had formerly been utilized
under operating leases.

     The structure of the new banking agreement ties amounts borrowed under the
agreement to a borrowing base consisting of certain receivables, inventory, and
fixed assets. Essentially all the assets of the Company, tangible and
intangible, are pledged as collateral under both facilities. The term loan
requires equal monthly payments of principal totaling $50,000 plus interest
beginning January 2001. The interest rate for both facilities is 2% over prime
rate. As part of the agreement, the bank was given a ten-year warrant to
purchase 30,000 shares of the Company's common stock at $5.00 per share. This
new credit facility contains financial covenants relating to various matters,
including but not limited to, minimum net worth, year-to-date and monthly
earnings, and limitations on changes in corporate structure, and restrictions on
dividends and capital spending. In March of 2001, the Company amended the
banking agreement in an effort to relax those covenants in return for a one-time
fee of $80,000. Although the Company believes that it will be able to meet the
covenants, there is no assurance that this will occur. Should there be a
covenant violation without a waiver on favorable terms, there could be a
significant adverse impact on the Company's operations. To move manufacturing
equipment to support the offshore manufacturing initiative, it will be necessary
to pay off the portion of the term note related to the equipment being moved.
There is no assurance that this can be accomplished on favorable terms. Should
that not occur, there could be a slowdown in the Company's plans to expand
offshore production.

     In December 2000, the Company entered into an agreement to raise
approximately $2,000,000 in cash by the sale of common stock and warrants to
purchase common stock. The sale consisted of 533,332 units. Each unit was sold
at a price of $3.75 and consisted of one share of common stock and a three-year
warrant to purchase one share of common stock at $7.50. The agreement called for
certain restrictions on the sale or further acquisition of stock by the
investors, as well as the right to require registration in the future. The
proceeds of the sale of this stock will be used to support the operations of the
Company.

                                      -14-
<PAGE>

Cash Flows

     Liquidity at February 28, 2001, consisted of approximately $0.6 million of
cash. Net cash utilized in operating activities was $1.4 million for the current
year-to-date period, compared to $1.2 million for the prior year-to-date period.
In the current year-to-date period, a $3.0 million loss was offset by $1.0
million in net non-cash items such as depreciation and $0.6 million net
reduction in various working capital accounts. The reduction of working capital
was largely due to collection of various categories of receivables, including a
$1.3 million income tax refund, which was used in the refinancing that was done
in the current quarter. Inventory did increase $1.2 million in the current
quarter, due to the fact that it was necessary to stock additional inventory of
raw material and work-in-process to support the transition to offshore assembly.
When the transition is completed, the Company anticipates that this transition
inventory increase will no longer be necessary, and in fact inventory may
decrease to the extent that the offshore partners take over the purchasing and
stocking of raw material inventory. In the prior year-to-date period, a $5.2
million loss was partially offset by $1.0 million in net non-cash items such as
depreciation and $3.0 million net reduction in various working capital accounts.
The reduction in working capital was particularly large in the prior year,
because of the Company's effort to spread sales more evenly through a quarter,
reducing the ending accounts receivables $2.1 million as a result. The Company's
internal plan is to maintain a nearly breakeven cash flow from operations for
fiscal year 2001. There can be no assurance that this will be achieved.

     Cash used in investing activities was $5.0 million for the current year-to-
date period, as compared to $0.4 million of cash generated from investing
activities for the prior year-to-date period. The current year-to-date investing
cash usage was primarily $8.6 million for capital expenditures, which consisted
of $8.3 million that had formerly been leased and $0.3 million of new items.
This was partially financed by the net sale of $3.5 million in short-term
investments. The prior year investment cash generated consisted primarily of a
net sale of short-term investments of $1.0 million offset by $0.5 million in
capital spending. The Company expects to acquire a total of approximately $1.0
million to $2.0 million of capital equipment by the end of fiscal 2001,
consisting primarily of equipment needed for its wafer fabrication manufacturing
facilities. Due to its offshore manufacturing initiative, the Company does not
expect to require significant additions to its assembly facilities or equipment.
Some of this equipment may be acquired under equipment financing facilities.

     Net cash generated from financing activities was $6.4 million in the
current year-to-date period, compared to $1.7 million in the prior year-to-date
period. In the current year-to-date period, $4.1 million was generated from net
borrowings, of which $3.0 million related to a $3.0 million term note and $2.3
million was generated from the sale of stock, of which $2.0 million was related
to a private placement in the current quarter. In the prior year-to-date period,
$0.9 million was generated from a net increase in borrowings and $0.8 million in
sales of stock, offset by a $0.4 million reduction in capital equipment
payables.

     As of the date of this report, the Company had approximately $0.8 million
available in cash under the new credit arrangement based upon the borrowing base
at that time. In addition, approximately $4.0 million may become available under
the Revolving Credit facility if the Company's borrowing base were to increase
sufficiently to support the increased borrowing. There can be no assurance that
this will happen. The Company believes that cash generated from operations, if
any, its cash balances, and the amounts available under its new credit facility
will be sufficient to meet the Company's operating cash requirements through the
calendar year 2001. To the extent that these sources of funds are insufficient
to meet the Company's capital or operating requirements, the Company may be
required to raise additional funds. No assurance can be given that additional
financing will be available or, if available, that it will be available on
acceptable terms. Should that occur, there could be significant adverse impact
on the Company's operations.

                                      -15-
<PAGE>

Forward-looking Statements

     This report and other presentations made by RF Monolithics, Inc. (RFM)
contain forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements involve known and
unknown risks, uncertainties and other factors that could cause actual results
to differ materially from the results expressed or implied by such statements.
Although RFM believes that in making any such statements its expectations are
based on reasonable assumptions, any such statement involves uncertainties and
is qualified in its entirety by reference to the following important factors,
among others, that could cause the actual results of RFM to differ materially
from those statements: (i) timely development, acceptance and pricing of new
products; (ii) timely implementation of manufacturing processes and transition
to offshore manufacturing; (iii) ability to obtain production material and
labor; (iv) the potential transition to value-added products; (v) the impact of
competitive products and pricing; (vi) general industry trends; (vii) general
economic conditions as they affect RFM's customers; and (viii) availability of
required financing on favorable terms; and (ix) other factors disclosed in this
report and the Form 10-K for the year ended August 31, 2000.

     Any forward-looking statement speaks only as of the date on which such
statement was made, and the Company does not undertake any obligation to update
any forward-looking statement to reflect events or circumstances after the date
on which such statement was made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time and it is not possible for the
Company to predict all such factors, nor can it assess the impact of each such
factor or the extent to which any factor or combination of factors may cause
results to differ materially from those contained in any forward-looking
statement.

                                      -16-
<PAGE>

                          PART II.  OTHER INFORMATION

ITEM 2.   CHANGES IN SECURITIES

In December 2000, the Company raised approximately $2.0 million dollars in cash
by the sale of common stock and warrants to purchase common stock in a private
placement. The sale consisted of 533,332 units. Each unit was sold at a price of
$3.75 and consisted of one share of common stock and a three-year warrant to
purchase one share of common stock at $7.50. The units were sold to the
following individuals on the following dates:

<TABLE>
<CAPTION>
                                                                    Warrant
                                               No. of Shares    Exercisable for         Total
          Purchaser                Date          of Stock        Common Stock       Consideration
          ---------                ----          --------        ------------       -------------
<S>                                <C>         <C>              <C>                 <C>
Orin Hirschman                     12/13/00         379,336           379,336       $1,422,510.00
Hershel P. Berkowitz               12/13/00          26,666            26,666       $   99,997.50
Anthony Alamura                    12/12/00           1,333             1,333       $    4,998.75
James Kardon                       12/12/00           2,666             2,666       $    9,997.50
Anne Grossman                      12/11/00           8,000             8,000       $   30,000.00
Paulette Papilsky                  12/12/00           5,333             5,333       $   19,998.75
Bond Family Trust                  12/12/00          26,666            26,666       $   99,997.50
Dean C. Campbell                   12/11/00          30,000            30,000       $  112,500.00
 Living Trust
Blake Downing                      12/13/00          26,666            26,666       $   99,997.50
James R. Berdell Roth IRA          12/12/00          26,666            26,666       $   99,997.50
</TABLE>


The offers and sales to such purchasers were exempt from the registration
requirements of the Securities Act pursuant to Section 4(2) of the Securities
Act and Rule 506 of Regulation D thereunder. All investors were accredited
investors pursuant to Regulation D. The proceeds from of the sale of the units
are being used to support the operations of the Company.

In connection with the above-referenced private offering, the Company approved
the Second Amendment to the Rights Agreement (the "Second Amendment") between
the Company and Fleet National Bank, f/k/a BankBoston, N.A., f/k/a The First
National Bank of Boston, as Rights Agent. The Rights Agreement governs the terms
of the preferred share purchase rights of the Company registered on Form 8-A and
filed with the Securities and Exchange Commission on December 30, 1994. The
Second Amendment provides a limited exemption for Orin Hirschman from the
provisions in the Rights Agreement which become exercisable upon any person
becoming a Beneficial Owner of 15% or more of the voting shares of the Company.
The Second Amendment provides that Orin Hirschman may beneficially own up to
16.6% of the voting shares of the Company without resulting in the rights set
forth in the Rights Agreement becoming exercisable.

                                      -17-
<PAGE>

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY

Pursuant to the Annual Meeting of Stockholders of RF Monolithics held on January
24, 2001, the following actions were taken:

1.   The stockholders elected the following individuals as directors until the
     next annual meeting of stockholders or until their successors are duly
     elected and have qualified. The action was taken as evidenced by the
     following vote totals and percentages for each nominee of the Company's
     then outstanding stock:

     David M. Kirk:
          For                           5,107,707      82%
          Against                         386,036       6%

     Michael R. Bernique
          For                           5,105,875      82%
          Against                         387,868       6%

     Cornelius C. Bond, Jr.
          For                           5,102,465      82%
          Against                         391,278       6%

     Dean C. Campbell
          For                           5,103,009      82%
          Against                         390,734       6%

     Francis J. Hughes, Jr.
          For                           5,105,575      82%
          Against                         388,168       6%

     These five individuals constitute the entire board of directors serving at
     this time.

2.   The stockholders approved an amendment to the Company's 1997 Equity
     Incentive Plan, to increase the aggregate number of shares of Common Stock
     authorized for issuance under the plan by 200,000 (from 1,375,000 shares to
     1,575,000 shares). The action was approved by the following vote totals and
     percentages of the Company's then outstanding stock:

          For                           1,633,778      26%
          Against                         989,516      16%
          Abstain                          24,627       0%
          Broker Non-Votes              2,845,823      46%

3.   The stockholders ratified the selection of Deloitte & Touche LLP as the
     Company's independent auditors for the fiscal year ending August 31, 2001.
     The action was approved by the following vote totals and percentages of the
     Company's then outstanding stock:

          For                           5,472,591      88%
          Against                           6,028       0%
          Abstain                          15,124       0%

                                      -18-
<PAGE>

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits. The Company hereby incorporates by reference all exhibits filed
     in connection with Form 10-K for the year ended August 31, 2000.

(b)  Exhibits included:

       Exhibit           Description
       -------           -----------

       4.6       Form of Unit Subscription Agreement for Common Stock and
                 Warrants between the Registrant and certain investors dated
                 December 11, 2000.
       4.7       Form of Common Stock Purchase Warrant between Registrant and
                 certain investors.
       4.8       Form of Registration Rights Agreement between Registrant and
                 certain investors dated December 11, 2000.
       10.42     Credit and Security Agreement between Registrant and Wells
                 Fargo Business Credit, Inc. dated as of December 8, 2000.
       10.43     Revolving Note between Registrant and Wells Fargo Business
                 Credit, Inc. dated as of December 8, 2000.
       10.44     Term Note between Registrant and Wells Fargo Business Credit,
                 Inc. dated as of December 8, 2000.
       10.45     Registration Rights Agreement between Registrant and Wells
                 Fargo Business Credit, Inc. dated as of December 8, 2000.
       10.46     Warrant Agreement between Registrant and Wells Fargo Business
                 Credit, Inc. dated as of December 8, 2000.
       10.47     Credit Agreement between Registrant and Wells Fargo Bank
                 Minnesota, N.A. dated as of December 8, 2000.
       10.48     Revolving Note between Registrant and Wells Fargo Bank
                 Minnesota, N.A. dated as of December 8, 2000.
       10.49     Export-Import Bank of the United States Working Capital
                 Guarantee Program Borrower's Agreement dated as December 8,
                 2000.
       10.50     Promissory Note, dated January 29, 2001, in the principle
                 amount of $41,768.74, executed and delivered by RF Monolithics,
                 Inc. to David T. Somerville.

(c.) The Company did not file any reports on Form 8-K during the quarter ended
     February 28, 2001.


Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act
of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.

                                      -19-
<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 thereunto duly authorized.


                                   RF MONOLITHICS, INC.


Dated:  April 16, 2001             By:        /s/ David Kirk
                                        ------------------------------
                                        David Kirk
                                        CEO, President and Director



                                   By:        /s/ James P. Farley
                                        ------------------------------
                                        James P. Farley
                                        VP Finance, Controller

                                      -20-
<PAGE>

                               INDEX TO EXHIBITS

          Exhibit             Description
          -------             -----------

          4.6       Form of Unit Subscription Agreement for Common Stock and
                    Warrants between the Registrant and certain investors dated
                    December 11, 2000. (1)
          4.7       Form of Common Stock Purchase Warrant between Registrant and
                    certain investors. (1)
          4.8       Form of Registration Rights Agreement between Registrant and
                    certain investors dated December 11, 2000. (1)
          10.42     Credit and Security Agreement between Registrant and Wells
                    Fargo Business Credit, Inc. dated as of December 8, 2000.
                    (1)
          10.43     Revolving Note between Registrant and Wells Fargo Business
                    Credit, Inc. dated as of December 8, 2000. (1)
          10.44     Term Note between Registrant and Wells Fargo Business
                    Credit, Inc. dated as of December 8, 2000. (1)
          10.45     Registration Rights Agreement between Registrant and Wells
                    Fargo Business Credit, Inc. dated as of December 8, 2000.
                    (1)
          10.46     Warrant Agreement between Registrant and Wells Fargo
                    Business Credit, Inc. dated as of December 8, 2000. (1)
          10.47     Credit Agreement between Registrant and Wells Fargo Bank
                    Minnesota, N.A. dated as of December 8, 2000. (1)
          10.48     Revolving Note between Registrant and Wells Fargo Bank
                    Minnesota, N.A. dated as of December 8, 2000. (1)
          10.49     Export-Import Bank of the United States Working Capital
                    Guarantee Program Borrower's Agreement dated as December 8,
                    2000. (1)
          10.50     Promissory Note, dated January 29, 2001, in the principle
                    amount of $41,768.74, executed and delivered by RF
                    Monolithics, Inc. to David T. Somerville.(1)

(1)  Filed as an exhibit to this Form 10-Q.

                                      -21-