U. S. Securities and Exchange Commission
                             Washington, D. C. 20549
                                   Form 10-KSB
                             Dated February 09, 2007


(Mark One)

(X)  ANNUAL REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES  EXCHANGE ACT OF
     1934 (Fee Required)

                   For the fiscal year ended November 30, 2006


( )  TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT
     OF 1934 (No Fee Required)

               For the transition period from ________ to ________
                          Commission file number 0-5109

                            MICROPAC INDUSTRIES, INC.

           DELAWARE                                               75-1225149
           --------                                               ----------
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

905 E. WALNUT STREET                                                75040
GARLAND, TEXAS                                                    (Zip Code)

                    Issuer's telephone number (972) 272-3571

          Securities to be registered under Section 12 (b) of the Act:

Title of each class                    Name of each exchange on which registered

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

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

          Securities to be registered under Section 12 (g) of the Act:

                           COMMON STOCK $.10 par value
                           ---------------------------

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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

Check if there is no  disclosure of  delinquent  filers  pursuant to Item 405 of
Regulation S-K contained in this form, and no disclosure  will be contained,  to
the best of  registrant's  knowledge,  in any  definitive  proxy or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB. []

Revenues for its most recent fiscal year:  $17,156,000

Based on  approximately  14,610 shares publicly traded during November 2006, the
aggregate market value of the voting common stock held by  non-affiliates of the
registrant (based on the average prices reported on the Over-the-Counter ("OTC")
Bulletin  Board system on November 30, 2006 was  approximately  $3,531,000.  For
purposes  of such  calculation  shares of Common  Stock  held by each  executive
officer and director and by each person who owns more than 5% of the outstanding
Common  Stock  has been  excluded  in that  such  persons  may be  deemed  to be
affiliates.  This  determination  of  affiliate  status  is  not  necessarily  a
conclusive determination for other purposes.

                   (APPLICABLE ONLY TO CORPORATE REGISTRANTS)

The number of shares outstanding of the issuer's only class of common equity, as
of the latest practicable date was 2,578,315 as of November 30, 2006.


                       DOCUMENTS INCORPORATED BY REFERENCE

Portions of the  Registrant's  definitive Proxy Statement dated February 9, 2007
for the Annual Meeting of  Shareholders  to be held on March 2, 2007 (the "Proxy
Statement") are incorporated by reference into Part III of this Form 10-KSB.

<PAGE>

                                     PART I

Item 1.   Description of Business
---------------------------------

INTRODUCTION
------------

Micropac Industries, Inc. (the "Company"), a Delaware corporation,  manufactures
and distributes various types of hybrid  microelectronic  circuits,  solid state
relays,  power  operational  amplifiers,   and  optoelectronic   components  and
assemblies.  The  Company's  products are used as components in a broad range of
military,  space and industrial systems,  including aircraft instrumentation and
navigation systems,  power supplies,  electronic  controls,  computers,  medical
devices, and high-temperature (200o C) products.

The Company's  facilities  are certified and qualified by Defense  Supply Center
Columbus  (DSCC) to  MIL-PRF-38534  (class K-space  level);  MIL-PRF-19500  JANS
(space  level),  MIL-PRF-28750  (class K space  level) and is  certified  to ISO
9001-2002.   Micropac   is  a  NASA  core   supplier,   and  is   compliant   to
AS9100-Aerospace Industry standard for supplier certification.

The business was started in 1963 as a sole proprietorship. On March 3, 1969, the
Company was incorporated  under the name of "Micropac  Industries,  Inc." in the
state of Delaware.  The stock was publicly held by 527  shareholders on November
30, 2006.

PRODUCTS AND TECHNOLOGIES
-------------------------

The Company's  products are either custom (being  application  specific circuits
designed  and  manufactured  to meet  the  particular  requirements  of a single
customer)  or  standard,   proprietary   components   such  as  catalog   items.
Custom-designed components are estimated to account for approximately 40% of the
Company's  sales for the fiscal year ended  November 30, 2006, and 49% in fiscal
2005;  standard components are estimated to account for approximately 60% of the
Company's  sales for the fiscal year ended November 30, 2006, and 51% for fiscal
2005.

Micropac Industries, Inc. provides microelectronic and optoelectronic components
and assemblies along with contract electronic  manufacturing services and offers
a wide range of products sold to the industrial,  medical,  military,  aerospace
and space markets.

The Company's  core  technology is the packaging and  interconnect  of miniature
electronic  components,  utilizing thick film and thin film substrates,  forming
microelectronics  circuits.  Other technologies include light emitting and light
sensitive  materials and products,  including  light emitting diodes and silicon
phototransistors   used  in  the  Company's   optoelectronic   components,   and
assemblies. The Company's basic products and technologies include:

     Custom design hybrid microelectronic circuits
     Solid state relays and power controllers
     Custom optoelectronic assemblies and components
     Optocouplers
     Light-emitting diodes
     Hall-Effect devices
     Displays
     Power operational amplifiers
     Fiber optic components and assemblies
     High temperature (200(0) C) products

Micropac's products are primarily sold to original equipment manufacturers (OEM)
who serve the following major markets:

     Military/Aerospace  - aircraft  instrumentation,  guidance and  navigations
     systems, control circuitry, power supplies, laser positioning
     Space - control circuitry, power monitoring and sensing
     Industrial - power control equipment, robotics
     Medical

The  Company  has  no  patents,  licenses,  franchises,   concessions,   royalty
agreements or labor contracts.  The Company's trademark "Mii" is registered with
the U.S. Patent and Trademark Office.

Sales of our products  internationally  are subject to  government  regulations,
including  export  control  regulations  of the U.S.  Department  of  State  and
Department  of Commerce.  Violation of these  regulations  by the company  could
result in monetary penalties and denial of export  privileges.  We are not aware
of any violations of export control regulations.

The  Company is not  currently  impacted  by export  restrictions  on  sensitive
technology.  Five  (5) of  the  Company's  principal  product  families  require
government approval.  Further, a significant portion of our business is military
and is dependent on maintaining our facility  certifications  to  MIL-PRF-38534,

<PAGE>

MIL-PRF-19500 and MIL-PRF-28750.  We expect to maintain these certifications and
qualifications;  however,  the loss of any of these  certifications would have a
significant impact on our business.

Government  regulations impose certain controls on chemicals used in electronics
and  semiconductor  manufacturing.  Micropac  has  obtained  all  the  necessary
environmental  permits, and routinely monitors and reports the wastewater stream
results  to the  local  governing  agency.  Micropac  is  classified  as a small
generator  of  hazardous  waste,  and the  annual  cost of  complying  with  the
regulations is minimal.

In  2006,  the  Company's   investment  in  technology   through   research  and
development,  which was expensed,  totals  approximately  $494,000  ($531,000 in
2005).  The  Company's  research  and  development  expenditures  were  directed
primarily toward long-term  specific customer  requirements,  some of which have
future potential as Micropac proprietary  products,  and product development and
improvement associated with the Company's space level and other high reliability
programs.

The Company  introduced  new Solid State  Power  Controllers  (SPPC) as the next
generation  of solid  state  relays  with  enhanced  ruggedness  and voltage and
current  carrying  capabilities.  Micropac's SSPCs feature both an instantaneous
over current  trip as well as I^2T which  compares  power used over time.  These
devices  range from 28VDC to 400VDC and from 5Amps to 40Amps.  The SSPC  Product
Family is fully capable of being Class K screened per MIL-PRF  38534.  Radiation
tolerant  versions of these  products are also  available.  Micropac  strives to
provide the greatest  power  density per package  volume and strives to meet the
stringent efficiency requirements of customers in today's market.

In addition to the  Company's  investment in research and  development,  various
customers paid the Company approximately  $170,000 in non-recurring  engineering
costs   associated   with  the  development  of  custom  products  for  specific
applications.

The  Company  provides  a one year  warranty  from the date of  shipment  to the
original  purchaser.  The  Company is  obligated  under this  warranty to either
replace  or repair  defective  goods or refund  the  purchase  price paid by the
buyer.

CUSTOMERS
---------

The Company's products are marketed  throughout the United States and in Western
Europe, through a direct technical sales staff, independent  representatives and
independent  stocking  distributors.  Approximately  18% of the sales for fiscal
year  2006  (10% in 2005)  were to  international  customers.  Sales to  Western
European   customers  are  made  by   independent   representatives   under  the
coordination of the Company's office in Bremen, Germany.

Sales  through the  Company's  distribution  channels  were  $4,519,000  in 2006
compared to $4,672,000 in 2005 or 26% and 25% of sales, respectively.

The  Company's  major  customers  include   contractors  to  the  United  States
government with fixed price  contracts.  Sales to these customers for Department
of  Defense  (DOD) and  National  Aeronautics  and Space  Administration  (NASA)
contracts  accounted for  approximately 69% of the Company's fiscal net sales in
2006 compared to 70% in 2005.

The Company's major customers are Lockheed  Martin,  Northrop  Grumman,  Boeing,
Raytheon, BAE, Schlumberger,  Honeywell,  Rockwell Int'l,  Kensington,  Advanced
Energy, NASA, and St. Jude.

At any time a single customer may have a disproportionate and material impact on
the company's operations and profit and loss.

BACKLOG
-------

At November  30,  2006,  the Company had a backlog of unfilled  orders  totaling
approximately  $9,527,000  compared to approximately  $9,319,000 at November 30,
2005.  The Company  expects to complete  and ship most of its  November 30, 2006
backlog during fiscal 2007.

EMPLOYEES
---------

At November 30, 2006, the Company had 134 full-time  employees  (compared to 146
at November 30, 2005), of which 19 were executive and managerial  employees,  32
were   engineers   and   quality-control   personnel,   22  were   clerical  and
administrative  employees,  and  61  were  production  personnel.  None  of  the
Company's employees were covered by collective bargaining agreements.

The Company is an Equal  Opportunity  Employer.  It is the  Company's  policy to
recruit,  hire, train and promote personnel in all job classifications,  without
regard to race, religion,  color,  national origin, sex or age. Above and beyond
non-discrimination, we are committed to an Affirmative Action Program, dedicated
to the hiring,  training,  and advancement  within the Company of minority group
members, women and handicapped individuals.

<PAGE>

COMPETITION
-----------

The Company  competes  with two or more  companies  with  respect to each of its
major products,  including custom hybrid  microcircuits,  solid state relays and
power controllers, optocouplers,  light-emitting diodes, light sensitive silicon
phototransistors and diodes,  hall-effect devices,  displays,  power operational
amplifier,  custom optoelectronic components and assemblies.  These products and
technologies are sold into various markets, including military/aerospace, space,
industrial and medical.  Some of these  competitors  are larger and have greater
capital   resources  than  the  Company.   Management   believes  the  Company's
competitive  position is favorable  with regard to our product  reliability  and
integrity,  past  performance,  customer  service  and  responsiveness,   timely
delivery and pricing;  however,  no assurance  can be given that the Company can
compete successfully in the future.

The hybrid  microcircuits  product line, including custom  microcircuits,  solid
state relays,  power operational  amplifiers and regulators accounted for 47% of
the Company's business in 2006, and the  Optoelectronics  product line accounted
for 53% of the Company's business in 2006, compared to 36% and 64% in 2005.

There  are  approximately  46  independent  hybrid  microcircuit   manufacturing
companies  who are  certified  to  supply  microcircuits  to  MIL-PRF-38534,  in
addition to OEM's,  who  manufacture  hybrid  microcircuits  for their  internal
needs. Micropac may compete with all of these for hybrid microcircuit  business.
Some of the Company's primary  competitors are Teledyne  Industries,  Inc., M.S.
Kennedy, Aeroflex, Agilent, Optek, and Isolink.

SUPPLY CHAIN
------------

The parts and raw materials for the Company's  products are generally  available
from more than one  source.  Except for  certain  optoelectronic  products,  the
Company does not  manufacture the basic parts or materials used in production of
its  products.  From time to time,  the Company has  experienced  difficulty  in
obtaining  certain  materials  when needed.  The  Company's  inability to secure
materials for any reason could have adverse effects on the Company's  ability to
deliver  products  on a  timely  basis.  The  Company  uses  capacitors,  active
semiconductor  devices  (primarily  in chip form),  hermetic  packages,  ceramic
substrates, resistor inks, conductor pastes, precious metals and other materials
in its manufacturing  operations.  However,  the Company has not been materially
affected by such  shortages.  The Company's  delivery  commitments  to customers
allow for adequate lead times for production of the products including lead time
for order and receipt from the supply chain.

Some of the Company's  primary  suppliers are  International  Rectifier,  Sussex
Semiconductors,  Semi-Dice, Accumet Eng. Corp, NTK Technologies, Electrovac, and
Aborn Electronics.

CAUTIONARY STATEMENTS - RISK FACTORS
------------------------------------

This Form 10-KSB contains  forward-looking  statements that are made pursuant to
the safe harbor  provisions of the Private  Securities  Litigation Reform Act of
1995.  Actual  results  could  differ  materially.  Investors  are  warned  that
forward-looking  statements involve risks and unknown factors including, but not
limited to, customer cancellation or rescheduling of orders,  problems affecting
delivery  of  vendor-supplied   raw  materials  and  components,   unanticipated
manufacturing problems and availability of direct labor resources.

Such  risks  and  uncertainties  include,  but are  not  limited  to  historical
volatility  and  cyclicality  of the  semiconductor  and  semiconductor  capital
equipment  markets that are subject to significant and often rapid increases and
decreases in demand. In addition, the Company produces silicon  phototransistors
and light  emitting diode die for use in certain  military,  standard and custom
products.  Fabrication  efforts sometimes may not result in successful  results,
limiting the  availability of these  components.  Competitors  offer  commercial
level  alternatives and our customers may purchase our competitors'  products if
the Company is not able to manufacture the products using these  technologies to
meet the customer demands.

The  Company  disclaims  any   responsibility  to  update  the   forward-looking
statements contained herein, except as may be required by law.

Majority shareholder ability to control the election of the Board of Directors

The  majority  shareholder  has the  ability  to  control  the  election  of the
Company's Board of Directors and elect  individuals who may be more  sympathetic
to such majority  shareholders'  desires and not necessarily  sympathetic to the
desires of  minority  shareholders  as to the  policies  and  directions  of the
Company.  However, the ability to control the election of the Board of Directors
does not modify the fiduciary  duties of the Board of Directors to represent the
interests of all shareholders

Availability of public share for purchase and sale

A small number of shares is available for public  purchase and sale. As a result
the company's reported share price may be subject to extreme  fluxuations due in
part to the small number of shares traded at any time.

<PAGE>

Pricing pressures from customers for reduction in selling prices

The Company continues to experience  pricing pressures from some of its original
equipment  manufacturer (OEM) customers.  In some cases, the Company's customers
request the review of pricing for possible  reduction in selling price on future
orders.  This  requires the Company to improve its  productivity  and to request
similar  price  reductions  from  its  supplier  chain.  If one or  both  of the
approaches  by the Company  does not succeed,  the Company  could be required to
reduce the selling price on future orders reducing the product gross margins and
affecting the Company's net earnings in order to receive  future orders from the
customer. However, the Company has no agreement that requires a reduction in the
selling  price on any  current  customer  order.  All  contracts  are firm fixed
pricing.

Insurance coverage and exposure to substantial claims or liabilities

The Company operates manufacturing facilities in Garland, Texas and subcontracts
portions  of the Company  manufacturing  to a contract  manufacturer  in Juarez,
Mexico.  These  facilities  use  industrial  machines and  chemicals  that could
provide risks of personal injury and/or property  damage.  There is no assurance
that  accidents  will not occur.  If  accidents do occur,  the Company  could be
exposed to  substantial  liability.  The Company has no liability for the Mexico
operations.  The Company maintains worker's  compensation  insurance and general
liability  insurance for  protection of its employees and for  protection of the
Company's assets in Garland, Texas. In addition to the basic policies mentioned,
the Company  maintains an umbrella  insurance  policy.  The Company  reviews all
insurance coverage on an annual basis, and makes any necessary adjustments based
on risk assessment and changes in its business.  In the opinion of the Company's
management,  and its'  insurance  advisors,  the Company is adequately  insured;
however, the Company's financial position could be materially affected by claims
not covered or exceeding coverage currently carried by the Company.

The  Company is  subject to  numerous  environmental  regulations  or changes in
government policy

The  Company is  subject  to  governmental  regulations  pertaining  to the use,
storage,  handling and disposal of hazardous  substances used in connection with
its manufacturing  activities.  Failure of the Company to control all activities
dealing  with  hazardous  chemicals  could  subject the  Company to  significant
liabilities or could cause the Company to cease its manufacturing activities.

The Company could be adversely  affected by changes in laws and regulations made
by U.S. and non U.S.  governments and agencies  dealing with foreign  shipments.
Changes by regulatory  agencies dealing with  environmental  issues could affect
the cost of the  Company's  products and make it hard for a small  company to be
competitive with larger companies.

Product liability claims

The use of the Company's  products in commercial or government  applications may
subject the Company to product  liability  claims.  Although the Company has not
experienced any product  liability  claims,  the sale of any product may provide
risk of such claims.  Product liability claims brought against the Company could
have a material adverse effect on the Company's  operating results and financial
condition.

Component  shortages or  obsolescence  from  suppliers  could affect  ability to
manufacture or delay shipments of products

The Company relies on suppliers to deliver quality raw materials in a timely and
cost  effective  manner.  Most of the  materials  and  components  are generally
available  from  multiple  sources;  however,  from time to time  vendors do not
deliver  the  product  as needed due to  manufacturing  problems  or  possibly a
decision not to furnish that product in the future.  Such interruption of supply
or price  increases  could  have a  material  adverse  effect  on the  Company's
operation;  however,  the  Company  is  not  currently  materially  impacted  by
materials shortages.

The ability to develop new products and technologies used in the military, space
or aerospace markets

The Company's  base products and  technologies  generally have long life cycles.
The  Company's  products  are  primarily  used in  military,  space or aerospace
applications,  which also have long life cycles.  There can be no assurance that
the  Company  will be able to  define,  develop  and  market  new  products  and
technologies  on a timely  and cost  effective  basis.  Failure  to  respond  to
customer's  requirements and to competitors'  progress in technological  changes
could have a material adverse effect on the Company's business.


Item 2.   Properties
--------------------

The  Company  occupies   approximately  36,000  square  feet  of  manufacturing,
engineering and office space in Garland,  Texas.  The Company owns 31,200 square
feet of that space and leases an  additional  4,800  square  feet.  The  Company
considers its facilities adequate for its current level of operations.

<PAGE>

The Company also  subcontracts  some  manufacturing  to Inmobiliaria San Jose De
Ciuddad Juarez S.A. DE C.V, a maquila contract  manufacturer in Juarez,  Mexico.
The Company owns all equipment and inventory  with  temporary  importation  into
Mexico under the maquila rules of Mexico.  The Company does not lease or own any
real property in Mexico.

The  Company  employs an  International  Sales  Manager in Bremen,  Germany  who
coordinates   sales  to  Western   European   customers   made  by   independent
representatives.  The sales manager maintains an office in a private  residence.
The Company  does not lease or own any real  property  in Germany,  or any other
foreign country.


Item 3.   Legal Proceedings
---------------------------

The Company is not involved in any material current or pending legal
proceedings.


Item 4.   Submission of Matters to a Vote of Security Holders
-----------------------------------------------------------

No matters were submitted to vote of the Company's  security holders through the
solicitation  of proxies by the Company  during the fourth quarter of the fiscal
year ended November 30, 2006.














<PAGE>

                                     PART II

Item 5.   Market for the  Registrant's  Common  Equity and  Related  Stockholder
--------------------------------------------------------------------------------
Matters
-------

On November 30, 2006, there were approximately 527 shareholders of record of the
Company's  common  stock.  The  stock  of the  Company  is  closely  held;  and,
therefore,  certain  shareholders  have the ability to  significantly  influence
decisions. Our common stock is quoted on the OTC Bulletin Board under the symbol
"MPAD.OB". The following sets forth the high and low bid prices for each quarter
during the last two fiscal years:

                                                        High              Low
 Fiscal Year Ended November 30, 2006
      Fourth Quarter                                    $6.25             $5.35
      Third Quarter                                     $7.50             $5.95
      Second Quarter                                    $9.25             $7.00
      First Quarter                                     $14.74            $8.00

Fiscal Year Ended November, 30, 2005
      Fourth Quarter                                    $9.50             $6.60
      Third Quarter                                     $8.00             $5.62
      Second Quarter                                    $7.75             $5.00
      First Quarter                                     $6.31             $3.75


During the three (3) month period ended November 30, 2006,  approximately 63,410
shares  of  the   Company's   common   stock  was   reportedly   traded  in  the
over-the-counter  market at a reported  price range of $5.35 to $6.60 per share.
For the two (2) year period  ending  November  30, 2006,  approximately  843,212
shares  of  the   Company's   common  stock  were   reportedly   traded  in  the
over-the-counter  market  at  prices  ranging  from a low of  $5.35 to a high of
$14.74.  Due to this average  monthly volume of  approximately  47,634 shares of
common stock being  publicly  bought and sold during this two year  period,  the
Company does not believe this share trading  volume  represents the market value
of the Company's common stock held by non-affiliates.

Our stock prices  quoted on the OTC Bulletin  Board  represent  over-the-counter
market  quotations and reflect  inter-dealer  prices,  without  retail  mark-up,
mark-down or commission and may not represent actual transactions.

On December  22,  2005,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.15 per share dividend to all  shareholders of record
on February 3, 2006. The dividend  payment was paid to  shareholders on February
10, 2006.

On December  29,  2004,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.12 per share dividend to all  shareholders of record
on January 25, 2005. The dividend  payment was paid to  shareholders on February
8, 2005.

There are no plans to make the dividend permanent.


Item 6.  Management's  Discussion  and  Analysis  of  Financial  Condition  and
-------------------------------------------------------------------------------
Results of Operations
---------------------

Liquidity and Capital Resources
-------------------------------

The  Company  currently  has an  existing  line of credit  with a Texas  banking
institution.  The line of  credit  agreement  provides  the  Company  with up to
$3,000,000  for  normal  operation  of the  Company.  The  interest  rate on any
borrowings  against this credit  agreement is equal to the prime rate less 1/4%.
The line of credit requires the Company to maintain  certain  financial  ratios,
including  quick  ratio  of at least  1:1,  maintain  a  tangible  net  worth of
$6,250,000   plus   75%  of   future   net   income,   and   maintain   a  total
liabilities-to-tangible-net-worth  of  less  than  1.25:1.  The  Company  is  in
compliance  with these  covenants.  To date, the Company has not used any of the
available line of credit.  The Company expects to continue to generate  adequate
amounts  of cash to meet its  liquidity  needs  from the  sale of  products  and
services and the collection thereof.

The Company  realized  $977,000 net in cash flows from  operations in 2006. Cash
influx came primarily from the  combination of net income  totaling  $1,419,000;
recovery of depreciation totaling $253,000;  decrease of accounts receivables of
$1,009,000  and a use of cash in the  increase of  inventories  of  $977,000;  a
decrease  in  accounts  payables  of  $186,000;  a decrease  in payroll  related
liabilities of $196,000; a decrease in income tax liabilities of $119,000; and a
decrease in other accrued liabilities of $219,000.

The Company used $256,000 in cash for  investment  in  additional  manufacturing
equipment,  computers and facility  improvements in 2006 compared to $497,000 in
2005.

<PAGE>

On December  22,  2005,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.15 per share dividend to all  shareholders of record
on February 3, 2006. The dividend  payment of $387,000 was paid to  shareholders
on February 10, 2006.

On December  29,  2004,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a special dividend of $.12 per share to all shareholders
of record on January 25,  2005.  The  dividend  payment of $309,000  was paid to
shareholders on February 8, 2005.

As of November 30, 2006, the Company had $2,558,000 in cash and cash equivalents
and $2,025,000 in short term investments compared to $1,722,000 in cash and cash
equivalents and $2,527,000 in short term investments on November 30, 2005.

Company management believes it will meet its 2007 capital  requirements  through
the use of cash  derived  from  operations  for the  year  and/or  usage  of the
Company's  short-term   investments.   There  were  no  significant  outstanding
commitments for equipment purchases or improvements at November 30, 2006.


Results of Operations 2006 vs. 2005
-----------------------------------

                                Three Months Ended       Twelve Months Ended
                             11/30/06       11/30/05   11/30/06       11/30/05

Net Sales                      100.0%         100.0%     100.0%         100.0%

Cost of sales                   66.7%          66.5%      66.5%          62.4%
R & D                            2.8%           2.6%       2.9%           2.8%
S, G, & A                       21.2%          17.3%      18.4%          17.0%
  Total Cost & Exp              90.7%          86.4%      87.8%          82.2%

Operating Income                 9.3%          13.6%      12.2%          17.8%

Other and Interest Income        1.3%           0.8%       1.0%           0.5%

Income Before Income Taxes      10.6%          14.4%      13.2%          18.3%

Provision for taxes              3.7%           5.1%       4.9%           6.9%

Net Income                       6.9%           9.3%       8.3%          11.4%


Sales in 2006 were approximately  $17,156,000,  a decrease of 9.8% or $1,874,000
compared to 2005 sales.  The  decrease in sales is primarily  attributable  to a
decrease of  $1,600,000  or 9.1% of sales for a custom  optoelectronic  assembly
sold to one customer.

The Company's  management  expects sales and profits to be stable in 2007, based
on the  current  backlog of  optoelectronics  products,  certain  space  product
contracts, and requirements for microcircuits.

New orders for fiscal year 2006 total  $17,340,000  compared to $19,077,000  for
fiscal 2005.  Approximately  $10,391,000 of the new orders  received in 2006 was
delivered to  customers  in 2006,  along with  approximately  $6,765,000  of the
Company's $9,319,000 backlog of orders at November 30, 2005.

The Company's  backlog as of November 30, 2006,  was  approximately  $9,527,000,
compared to approximately $9,319,000 on November 30, 2005.

Custom-designed  components  accounted  for  approximately  40% of the Company's
sales for the fiscal  year ended  November  30,  2006,  and 49% in fiscal  2005;
standard  components  accounted for approximately 60% of the Company's sales for
the fiscal year ended November 30, 2006, and 51% for fiscal 2005.

Approximately  18% of the sales  for  fiscal  year  2006  (10% in 2005)  were to
international  customers.  Sales  to  Western  European  customers  are  made by
independent  representatives  under the  coordination of the Company's office in
Bremen,  Germany.  The increased sales are attributed to improved sales of power
and  optocoupler  products  through the independent  representatives  to various
customers.

<PAGE>

The  Company's  major  customers  include   contractors  to  the  United  States
government with fixed price  contracts.  Sales to these customers for Department
of  Defense  (DOD) and  National  Aeronautics  and Space  Administration  (NASA)
contracts  (some of which were  contracted  through the QSS contract  with NASA)
accounted  for  approximately  69% of the  Company's  fiscal  net  sales in 2006
compared to 70% in 2005.

Sales by  market  for 2006  compared  to 2005  decreased  34% in the  commercial
market,  3% in the military market,  and increased 14% in the space market.  The
decrease in the commercial market sales was primarily attributable to a decrease
of  $1,600,000  for a  custom  optoelectronic  assembly  to one  customer.  As a
percentage  of total net sales,  sales  decreased 8% in the  commercial  market,
increased 5% in the military market, and increased 8% in the space market.

Cost of sales, as a percentage of net sales, was 66.5% in 2006 compared to 62.4%
in 2005. The increase of 4.1% is attributable to stable fixed operating  expense
on lower sales  volume and changes in product  mix. In actual  dollars,  cost of
sales decreased $471,000 for 2006, versus 2005.

Expenses  for  research  and  development  total  $494,000  in 2006  compared to
$531,000  in  2005.  Most  of  the  research  and   development   expenses  were
concentrated  on expanding the company's line of solid state power  controllers,
detectors,  hall-effect devices;  investment in medical products;  and continued
investments  in  enhancing  manufacturing  processes  to improve  the  Company's
competitive position.

Selling,  general, and administrative expenses total 18.4% of net sales in 2006,
compared to 17.0% in 2005, based on lower sales. In dollars  expensed,  selling,
general and  administrative  expenses  totaled  $3,152,000  in 2006  compared to
$3,237,000 in 2005, a decrease of $85,000.

Interest and other income for fiscal 2006 totaled  $162,000  compared to $97,000
for  fiscal  2005.  The  increase  is related  to higher  interest  rates on the
Company's investments.

Income before taxes for fiscal 2006 was approximately $2,268,000 or 13.2% of net
sales,  compared to $3,485,000 or 18.3% of net sales in fiscal 2005.  Net income
after taxes  totaled  approximately  $1,419,000 or $.55 per share in 2006 versus
2005 net  income  of  $2,176,000  or $.84 per  share.  Net  income  after  taxes
decreased  $757,000 in 2006 compared to 2005,  primarily  attributable  to lower
sales to one customer for custom  optoelectronic  assemblies which accounted for
approximately 25% of the net income in 2005. The Company's  management  expected
net  income  to  decrease  with  the  completion  of this  contract,  and  lower
anticipated sales in 2006.


New Accounting Standards
------------------------

In June  2006,  the  FASB  issued  Interpretation  ("FIN")  No.  48,  Employers'
Accounting for Uncertainty in Income Taxes.  FIN 48,  Accounting for Uncertainty
in  Income   Taxes--an   interpretation   of  FASB   Statement   No.  109.  This
interpretation   clarifies  the  accounting  for  uncertainty  in  income  taxes
recognized in an  enterprise's  financial  statements  in  accordance  with FASB
Statement No. 109,  Accounting for Income Taxes (SFAS 109). This  Interpretation
prescribes a recognition  threshold and measurement  attribute for the financial
statement  recognition and measurement of a tax position taken or expected to be
taken  in  a  tax  return.   This   Interpretation  also  provides  guidance  on
derecognition,  classification,  interest and  penalties,  accounting in interim
periods,  disclosure, and transition. It is effective for fiscal years beginning
after  December 15, 2006.  The Company is currently  evaluating  the impact that
this interpretation will have on its financial statements.

In September  2006, the SEC issued Staff  Accounting  Bulletin No. 108 (SAB108),
which expresses the SEC's views  regarding the process of quantifying  financial
statement  misstatements and provides guidance on quantifying and evaluating the
materiality  of  unrecorded  misstatements.  SAB  108 is  effective  for  annual
financial  statements  covering the first fiscal year ending after  November 15,
2006,  with earlier  application  encouraged for any interim period of the first
fiscal year ending after November 15, 2006,  filed after the  publication of SAB
108. The Company  implemented  SAB 108 for the year ended November 30, 2006. The
implementation  of SAB 108 did  not  have a  material  impact  on its  financial
statements.

Item 7.   Financial Statements

The  financial  statements  listed  below  appear on pages 19 through 26 of this
Report.  The Company is not required to furnish the Supplementary  Data required
by Item 302 of Regulation S-K.

     Page No.
     --------

       18                  Report  of  Independent   Registered  Public
                           Accounting Firm

       19                  Balance  Sheets as of November  30, 2006 and
                           2005

<PAGE>

       20                  Statements  of Income  for the  years  ended
                           November 30, 2006 and 2005

       21                  Statements of  Shareholders'  Equity for the
                           years ended November 30, 2006 and 2005

       22                  Statements of Cash Flows for the years ended
                           November 30, 2006 and 2005

      23-27                Notes to Financial  Statements for the years
                           ended November 30, 2006 and 2005

Item 8.   Changes  in and  Disagreements  with  Accountants  on  Accounting  and
--------------------------------------------------------------------------------
Financial Disclosure
--------------------

None

Item 8A.  Controls and Procedures
---------------------------------

The Company maintains disclosure controls and procedures designed to ensure that
information  required to be  disclosed  in reports  filed  under the  Securities
Exchange  Act of 1934,  as  amended,  is  recorded,  processed,  summarized  and
reported  within  the  specified  time  periods.  Disclosure  controls  are also
designed with the objective of ensuring that this information is accumulated and
communicated to our management,  including our Chief Executive Officer and Chief
Financial Officer,  as appropriate to allow timely decisions  regarding required
disclosure.  As of the end of the period  covered by this report,  the Company's
management,  including the Chief Executive Officer and Chief Financial  Officer,
evaluated the effectiveness of the Company's disclosure controls and procedures.
Based on the evaluation, which disclosed no significant deficiencies or material
weaknesses,  the Chief  Executive  Officer  and  Chief  Financial  Officer  each
concluded that the Company's disclosure controls and procedures are effective.











<PAGE>

                                    PART III

In  accordance  with  General  Instruction  G(3) of Form 10-K,  the  information
required by this Part III is incorporated  by reference to Micropac  Industries,
Inc.'s  definitive  proxy  statement  relating  to its 2007  Annual  Meeting  of
Stockholders,  as set forth below.  The 2007 Proxy  Statement will be filed with
the Securities and Exchange Commission on or about February 9, 2007.


Item 9.   Directors & Executive Officers of The Registrant
----------------------------------------------------------

The  information  set  forth in the 2007  Proxy  Statement  under  the  headings
"Election of  Directors",  and  "Principal  Stockholders  and  Stockholdings  of
Management", is incorporated herein by reference.

                                  Position(s) With
Name                  Age           the Company                   Director Since
----                  ---           -----------                   --------------

H. Kent Hearn         70    Director and Member of Audit
                            Committee                             February 1983

Heinz-Werner Hempel   78    Director and Member of Audit
                            Committee                             February 1997

James K. Murphey      64    Director and Member of Audit
                            Committee                             March 1990

Nicholas Nadolsky     73    Director and Member of Audit
                            Committee                             May 2005

Connie Wood           67    Director and Member of Audit
                            Committee, Former CEO and President   May 2002

Mark King             52    Director, CEO, President and
                            Member of Audit Committee             October 2005

Patrick Cefalu        49    CFO, Vice President


Mr. Hearn is a former stockbroker of Milkie/Ferguson  Investments,  Inc., having
retired in December 2006. Mr. Hearn was formerly employed by Harris  Securities,
Dallas, Texas.

Mr. Hempel is the Chief Operating Officer of Hanseatische Waren-Gesellschaft MBH
& Co, KG, Bremen Germany.

Mr. Murphey is an attorney and member of the law firm Glast,  Phillips & Murray,
P.C. in Dallas, Texas. Glast, Phillips & Murray, P.C. serves as legal counsel to
the company. Prior to 2001, Mr. Murphey was a member of the law firm of Secore &
Waller, L.L.P. in Dallas, Texas.

Mr. Nadolsky served as the Company's Chief Executive Officer and Chairman of the
Board  until his  medical  leave of absence  beginning  May 2002.  Mr.  Nadolsky
retired from the Company in May 2003.

Mrs.  Wood is the former Chief  Executive  Officer and President of the Company,
having  retired in October  2005,  and served as a  full-time  consultant  until
December 31, 2005. Mrs. Wood was elected as Chief Executive Officer in May 2002.
Prior to May 2002,  Mrs. Wood was President and Chief  Operating  Officer of the
Company.

Mr. King is the Chief Executive  Officer and President of the Company.  Prior to
November  2002,  Mr. King was  President  and Chief  Operating  Officer of Lucas
Benning  Power  Electronics.  Mr. King joined the company in November of 2002 as
the  Chief  Operating  Officer  and was  elected  as  Chief  Executive  Officer,
President and Board Member in October 2005.

The Board of  Directors  held  four (4) board  meetings  during  the year  ended
November 2006.  Directors received a fee of $1,500.00,  other than Mr. King, for
each meeting attended during the year ended November 2006. Beginning on December
1, 2005, the Board provided for the payment of an annual  retainer of $10,000 to
Messrs  Nadolsky and Hearn and Mrs. Wood.  Mrs. Wood, Mr. Nadolsky and Mr. Hearn
attended all of the meetings. Mr. Murphey attended three (3) of the meetings and
Mr. Hempel attended one (1) of the meetings. Mrs. Wood received fees of $6,000.

<PAGE>
<TABLE>
<CAPTION>

The Audit  Committee  held four (4) meetings  during the year ended November 30,
2006. Members of the Audit Committee  received a fee of $750.00,  other than Mr.
King, for each meeting  attended  during the year ended November 2006. Mrs. Wood
received Audit  Committee fees of  $2,250.00.Mr.  Murphey and Mr. Hearn attended
all of the  meetings.  Mr.  Nadolsky  and Mrs.  Wood  attended  three (3) of the
meetings. Mr. Hempel did not attend any meetings.

With  the  exception  of Mr.  Hearn,  members  of the  Audit  Committee  are not
considered as independent members under applicable United States statutes.

The Board of Directors has evaluated the credentials of Nicholas  Nadolsky,  and
has determined that Mr. Nadolsky is an "audit committee financial expert" within
the meaning of 401(e) of Regulation S-B.

The Board does not have a nominating  committee due to the Company's small size.
The Board does not provide a process for security holders to send communications
to the Board of Directors due to the infrequent  nature of such  communications.
The Board has not  adopted a policy with regard to Board  member  attendance  at
annual  meetings.  Five (5)  Board  Members  attended  the prior  year's  annual
meeting.

Item 10.  Executive Compensation

The  information  set  forth in the  2007  Proxy  Statement  under  the  heading
"Management Remuneration and Transactions", is incorporated herein by reference.

The following  table shows as of November 30, 2006, all cash  compensation  paid
to, or accrued and vested for the account of Ms. Connie Wood, Past President and
Chief Executive  Officer,  Mr. Mark King,  President and Chief Executive Officer
and Mr. Patrick Cefalu,  Vice President and Chief Financial Officer.  Mrs. Wood,
Mr. King and Mr. Cefalu received no non-cash compensation during 2005.

The company does not have any equity compensation plans.

                                         Annual Compensation
                                         -------------------

Name and                                 Annual                        Other           All Other
Principal Position            Year       Salary      Bonus     Annual Compensation   Compensation
                                                                       (a)                (b)
=================================================================================================
<S>                           <C>      <C>           <C>             <C>              <C>
Connie Wood,                  2006     $ 21,279.88   $29,500         $15,750          $41,551.40
Past President and            2005     $183,294.58   $14,500         $ 6,500          $23,693.18
Chief Executive               2004     $172,394.28   $10,000         $ 6,000          $27,194.25
Officer

Mark King,                    2006     $220,317.81   $29,500             -0-          $15,981.33
President and                 2005     $163,395.50   $14,500         $   500          $13,383.62
Chief Executive Officer (1)   2004     $155,333.82   $ 2,000             -0-          $10,225.38

Patrick Cefalu,               2006     $114,467.91   $29,500             -0-          $ 6,736.33
Vice President and            2005     $ 90,906.21   $14,500             -0-          $10,749.07
Chief Financial Officer (2)
</TABLE>

     (a)  Reflects fees for Board meetings and Audit Committee meetings
     (b)  Reflects  amounts  contributed  by Micropac  Industries,  Inc.,  under
          Micropac's  401(k)  profit  sharing  plan;  unused  vacation  pay; and
          reimbursement  for medical  expenses under  Micropac's  Family Medical
          Reimbursement Plan.
================================================================================
--------------------------------------------------------------------------------

     (1)  Mr.   Cefalu  joined  the  Company  in  July  2001;   however,   total
          compensation is not reported before fiscal year 2005, as annual salary
          and bonus did not exceed $100,000.
     (2)  Effective November 2005, Mr. King's existing employment  agreement was
          revised  to  provide:  that Mr.  King  would  serve  as the  Company's
          President and Chief  Executive  Officer,  and a member of the Board of
          Directors and Audit  Committee at a base salary of $186,400 for a term
          of three (3) years. In December 2005, the Company and Mr. King amended
          his  employment  agreement  to  increase  his  annual  base  salary to
          $225,000.

<PAGE>

Amounts  included in other annual  compensations  relating to director and audit
--------------------------------------------------------------------------------
committee fees
--------------

The Board of  Directors  held  four (4) board  meetings  during  the year  ended
November 30, 2006.  Directors receive a fee of $1,500.00 for each meeting.  Mrs.
Wood received fees of $6,000 and a $7,500  retainer  which amount is included in
the "Other Annual Compensation" column.

The Audit  Committee  held four (4) meetings  during the year ended November 30,
2006. Members of the Audit Committee received a fee of $750.00 for each meeting.
Mrs. Wood received  Audit  Committee  fees of $2,250 which amount is included in
the "Other Annual Compensation" column.

Amount included in all other compensation relating to employee benefit plans
----------------------------------------------------------------------------

The Company maintains a Family Medical Reimbursement Plan for the benefit of its
executive  officers  and their  dependents.  The Plan is funded  through a group
insurance policy issued by an independent carrier and provides for reimbursement
of 100% of all bona fide  medical  and dental  expenses  that are not covered by
other medical  insurance plans.  During the fiscal year ended November 30, 2006,
Mrs. Wood received $3,863.24,  Mr. King received $902.26 and Mr. Cefalu received
$6,736.33  which  amounts are  included in the "All Other  Compensation"  column
shown in the preceding remuneration table.

In July 1984,  the Company  adopted a Salary  Reduction Plan pursuant to Section
401(k) of the Internal  Revenue Code.  The Plan's  benefits are available to all
Company  employees who are at least 18 years of age and have  completed at least
six months of service to the Company as of the  beginning  of a Plan year.  Plan
participants  may elect to defer up to 15% of their total  compensation as their
contributions,  subject to the  maximum  allowed by the  Internal  Revenue  code
401(k),  and the Company  matches their  contributions  up to a maximum of 6% of
their total  compensation.  A  participant's  benefits vest to the extent of 20%
after two years of eligible  service and become  fully  vested at the end of six
years.

During the fiscal year ended November 30, 2006,  the Company made  contributions
to the Plan for Mr. King in the amount of $14,989.07 and Mrs. Wood in the amount
of $212.79  which  amounts are included in the "All Other  Compensation"  column
shown in the preceding remuneration table.

Employment  agreements of the Company's  officers provide that they may elect to
carry over any unused  vacation time to  subsequent  periods or elect to be paid
for such unused  vacation time. In 2006,  Mrs. Wood received unused vacation pay
in the amount of  $37,655.37  which is included in the "All Other  Compensation"
column shown in the preceding remuneration table.

On January 15,  2001,  the Board of Directors  adopted the Micropac  Industries,
Inc.  2001  Employee  Stock Option Plan.  To date,  no options have been granted
under the Plan.


Item 11.  Security Ownership of Certain Beneficial Owners and Management
------------------------------------------------------------------------

The  information  set  forth in the  2007  Proxy  Statement  under  the  heading
"Principal  Stockholders and Stockholdings of Management" is incorporated herein
by reference.




<PAGE>

The following  table shows the number and  percentage of shares of the Company's
common stock  beneficially  owned (a) by each person known by the Company to own
5% or more of the  outstanding  common stock,  (b) by each director and nominee,
and (c) by all present officers and directors as a group.

 Name and Address                         Number of Shares            Percent
of Beneficial Owner                      Beneficially Owned         of Class(1)

Heinz-Werner Hempel (2)(3)                    1,952,577                75.7%
Hanseatische Waren-Gesellschaft
         MBH & Co., KG
Am Wall 127
28195 Bremen 1 Germany

H. Kent Hearn (3)                                 3,500            Less than .2%
1409 Briar Hollow
Garland, Texas 75043

James K. Murphey (3)                                -0-                  -
2290 One Galleria Tower
13355 Noel Road, L.B.75
Dallas, Texas 75240

Nicholas Nadolsky (3)                               -0-                  -
1322 Briar Hollow
Garland, Texas 75043

Connie Wood (3)                                   6,000            Less than .3%
877 FM 2948
Como, Texas 75431

Mark King (3)                                       -0-
2905 Wyndham Lane
Richardson, Texas 75082

Patrick Cefalu                                      -0-
8706 Arborside
Rowlett, Texas 75089

All officers and directors                    1,962,077                76.1%
  as a group (7 Persons)
-----------------------

(1)  Calculated on the basis of the 2,578,315  outstanding shares.  There are no
     options, warrants, or convertible securities outstanding.

(2)  The  Company  and Mr.  Heinz-Werner  Hempel  are  parties  to an  Ancillary
     Agreement  entered into in March 1987.  The Ancillary  Agreement  primarily
     obligates the Company to register Mr.  Hempel's stock and allows Mr. Hempel
     to participate in any sale of stock by the Company.

(3)  A director of the Company.  Each incumbent  director has been nominated for
     reelection at the Annual Meeting.


Item 12.  Certain Relationships and Related Transactions
--------------------------------------------------------

The  information  set  forth in the  2007  Proxy  Statement  under  the  heading
"Management Remuneration and Transactions" is incorporated herein by reference.

Since  1980,  the  Company  has  leased a 4,800  square-foot  building  from Mr.
Nadolsky  which  is used  primarily  for  manufacturing.  The  lease  originally
provided for a monthly  rental of $1,900 (an amount  based upon a January  1984,
independent  appraisal  of the  building's  value)  and was to have  expired  on
January 1, 1987.  Since 1987,  the Company has  extended  the term of this lease
from time to time.  The rental paid to Mr.  Nadolsky  pursuant to this lease was
$45,000 for the fiscal year ended  November 30, 2006.  In April 2004,  the lease
was  renewed for three (3) years at the same  rental  rate  provided  for in the
previous  lease subject to increase  based upon  increases in the Consumer Price
Index.

<PAGE>

Item 13.  Principal Accountant Fees and Services
------------------------------------------------

The  information  set  forth in the  2007  Proxy  Statement  under  the  heading
"Independent  Public  Accountants"  and "Audit Fees" is  incorporated  herein by
reference.

KPMG  LLP was  selected  as the  independent  accountants  in 2002  and has been
responsible  for the  Company's  financial  audit  for the  fiscal  years  ended
November 30, 2002 through November 30, 2006.

Management  anticipates that a  representative  from KPMG LLP will be present at
the Annual  Meeting and will be given the  opportunity to make a statement if he
or she desires to do so. It is also anticipated that such representative will be
available to respond to appropriate questions from stockholders.

AUDIT FEES

KPMG LLP fees for professional services for the audit of the Company's financial
statements for 2006 and the review of the interim financial  statements included
in the Quarterly Reports is $96,000.

TAX FEES

In  addition  to the audit  fees,  KPMG LLP fees for tax  advisory  and 2005 tax
return preparation services was $21,130.

ALL OTHER FEES

KPMG LLP did not provide any other services.

The Audit  Committee  requested  that KPMG,  LLP provide the committee  with the
anticipated  charges of all accounting and tax related  services to be performed
by KPMG,  LLP in  advance  of  performing  such  services.  The Audit  Committee
approves all KPMG, LLP tax return  preparation in advance of the  performance of
such services.

Item 14.  Exhibits and Reports on Form 8-K
------------------------------------------

(a)  Exhibits


          31.1 Certification of Chief Executive  Officer pursuant to Section 302
               of the Sarbanes- Oxley Act of 2005

          31.2 Certification of Chief Accounting Officer pursuant to Section 302
               of the Sarbanes- Oxley Act of 2005

          32.1 Certification  of Chief Executive  Officer  pursuant to 18 U.S.C.
               section  1350,  as  adopted   pursuant  to  section  906  of  the
               Sarbanes-Oxley act of 2005.

          32.2 Certification  of Chief  Accounting  Officer pursuant to U. S. C.
               section  1350,  as  adopted   pursuant  to  section  906  of  the
               Sarbanes-Oxley act of 2005.


(b)  Form 8K -

          On December 22, 2005,  the Board of Directors of Micropac  Industries,
          Inc.  approved  the  payment  of a  $.15  per  share  dividend  to all
          shareholders  of record on February 3, 2006. The dividend  payment was
          paid to shareholders on February 10, 2006.

          On December 29, 2004,  the Board of Directors of Micropac  Industries,
          Inc.  approved  the  payment  of a  $.12  per  share  dividend  to all
          shareholders  of record on January 25, 2005. The dividend  payment was
          paid to shareholders on February 8, 2005.

<PAGE>

          Departure of Directors or Principal  Officers;  Election of Directors;
          Appointment of Principal  Officers.  Ms. Connie Wood,  Chief Executive
          Officer of Micropac  Industries,  Inc., has retired  effective October
          12, 2005 after more than 36 years of service.  Ms. Wood, 66,  remained
          with the Company on a  consulting  basis  through the end of the year,
          and will  continue  to serve on the Board of  Directors.  The Board of
          Directors  elected Mr. Mark King, 51, as President and Chief Executive
          Officer to succeed Mrs. Wood effective October 12, 2005. In, addition,
          Mr.  King  was  elected  as a  director  and a  member  of  the  audit
          committee.  Mr. King has been an Executive  Vice  President  and Chief
          Operating Officer of Micropac Industries, Inc. since November 2002.



















<PAGE>

                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) 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.


                                               MICROPAC INDUSTRIES, INC.




                                               By: /s/ Mark King
                                                   -----------------------------
                                                   Mark King, President
                                                   and Chief Executive Officer
                                                   (Principal Executive Officer)

                                               By: /s/ Patrick Cefalu
                                                   -----------------------------
                                                   Patrick Cefalu, CFO and
                                                   Principal Accounting Officer




Dated:  02/09/2007

Pursuant to the  requirements  of the Securities and Exchange Act of 1934,  this
report  has  been  signed  below  by the  following  persons  on  behalf  of the
registrant and in the capacities indicated on 02/09/2007



  /s/ Connie Wood                            s/ Kent Hearn
-------------------------------------      -------------------------------------
  Connie Wood, Director                      H. Kent Hearn, Director


  /s/ James Murphey                          /s/ Heinz-Werner Hempel
-------------------------------------      -------------------------------------
  James K. Murphey, Director                 Heinz-Werner Hempel, Director


  /s/ Nicholas Nadolsky                      /s/ Mark King
-------------------------------------      -------------------------------------
  Nicholas Nadolsky, Director                Mark King, Director




<PAGE>

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


The Board of Directors and Shareholders
Micropac Industries, Inc.:

We have audited the accompanying balance sheets of Micropac Industries,  Inc. as
of  November  30,  2006  and  2005,  and  the  related   statements  of  income,
shareholders'  equity,  and cash flows for the years then ended. These financial
statements   are  the   responsibility   of  the   Company's   management.   Our
responsibility  is to express an opinion on these financial  statements based on
our audits.

We conducted our audits in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of Micropac Industries, Inc. as of
November 30, 2006 and 2005, and the results of its operations and its cash flows
for the years then ended in conformity with U.S. generally  accepted  accounting
principles.




                                                                        KPMG LLP

Dallas, Texas,
February 8, 2007








<PAGE>
<TABLE>
<CAPTION>

                            MICROPAC INDUSTRIES, INC.
                            -------------------------
                                 BALANCE SHEETS
                                 --------------
                           NOVEMBER 30, 2006 AND 2005
                           --------------------------
                    (Dollars in thousands except share data)

                                     ASSETS                              2006        2005
                                     ------                            --------    --------
<S>                                                                    <C>         <C>
CURRENT ASSETS:
    Cash and cash equivalents                                          $  2,558    $  1,722
    Short-term investments                                                2,025       2,527
    Receivables, net of allowance for doubtful accounts
        of $89 for 2006 and 2005 respectively                             2,048       3,057
    Inventories
        Raw materials and supplies                                        1,924       1,825
        Work-in-process                                                   2,596       1,718
                                                                       --------    --------
                  Total inventories                                       4,520       3,543

    Deferred income taxes                                                   625         614
    Prepaid expenses and other assets                                        77          76
                                                                       --------    --------
                  Total current assets                                   11,853      11,539

PROPERTY, PLANT, AND EQUIPMENT, at cost:
    Land                                                                     80          80
    Buildings                                                               498         498
    Facility improvements                                                   796         796
    Machinery and equipment                                               5,925       5,689
    Furniture and fixtures                                                  507         487
                                                                       --------    --------
        Total property, plant, and equipment                              7,806       7,550
    Less- accumulated depreciation                                       (6,591)     (6,338)
                                                                       --------    --------
        Net property, plant, and equipment                                1,215       1,212
                                                                       --------    --------


                  Total assets                                         $ 13,068    $ 12,751
                                                                       ========    ========

                      LIABILITIES AND SHAREHOLDERS' EQUITY
                      ------------------------------------

CURRENT LIABILITIES:
    Accounts payable                                                   $    582    $    768
    Accrued compensation                                                    494         690
    Accrued professional fees                                                51          28
    Income taxes payable                                                     28         147
    Property taxes                                                           63          54
    Commissions payable                                                      49          52
    Deferred revenue                                                        243         499
    Other accrued liabilities                                                25          17
                                                                       --------    --------
                  Total current liabilities                               1,535       2,255

DEFERRED INCOME TAXES                                                        79          74
COMMITMENTS AND CONTINGENCIES (Note 5)
SHAREHOLDERS' EQUITY:
    Common stock, $.10 par value, authorized 10,000,000 shares
         3,078,315 issued 2,578,315 outstanding at November 30, 2006
         and November 30, 2005                                              308         308
    Paid-in capital                                                         885         885
    Treasury stock, at cost, 500,000 shares                              (1,250)     (1,250)
    Retained earnings                                                    11,511      10,479
                                                                       --------    --------
                  Total shareholders' equity                             11,454      10,422
                                                                       --------    --------

                  Total liabilities and shareholders' equity           $ 13,068    $ 12,751
                                                                       ========    ========
</TABLE>

                 See accompanying notes to financial statements.

<PAGE>
<TABLE>
<CAPTION>

                            MICROPAC INDUSTRIES, INC.
                            -------------------------
                              STATEMENTS OF INCOME
                              --------------------
                 FOR THE YEARS ENDED NOVEMBER 30, 2006 AND 2005
                 ----------------------------------------------
                    (Dollars in thousands except share data)



                                                               2006           2005
                                                           -----------    -----------
<S>                                                        <C>            <C>
NET SALES                                                  $    17,156    $    19,030

COSTS AND EXPENSES:
Cost of sales                                                   11,403         11,874
Research and development                                           494            531
Selling, general, and administrative expenses                    3,152          3,237
                                                           -----------    -----------
                  Total costs and expenses                      15,049         15,642
                                                           -----------    -----------

OPERATING INCOME BEFORE INTEREST AND INCOME TAXES                2,107          3,388

Other income                                                        12             10
Interest income                                                    149             87
                                                           -----------    -----------

INCOME BEFORE INCOME TAXES                                       2,268          3,485

PROVISION (BENEFIT) FOR INCOME TAXES:
    Current                                                        855          1,393
    Deferred                                                        (6)           (84)
                                                           -----------    -----------

          Total provision for current and deferred taxes           849          1,309
                                                           -----------    -----------

NET INCOME                                                 $     1,419    $     2,176
                                                           ===========    ===========

BASIC AND DILUTED EARNINGS PER SHARE                       $      0.55    $      0.84
                                                           ===========    ===========

WEIGHTED AVERAGE NUMBER OF SHARES, basic and diluted         2,578,315      2,578,315
                                                           ===========    ===========
</TABLE>




                 See accompanying notes to financial statements.

<PAGE>
<TABLE>
<CAPTION>

                            MICROPAC INDUSTRIES, INC.
                            -------------------------
                       STATEMENTS OF SHAREHOLDERS' EQUITY
                       ----------------------------------
                 FOR THE YEARS ENDED NOVEMBER 30, 2006 AND 2005
                 ----------------------------------------------
                             (Dollars in thousands)



                              Common     Paid-in     Treasury    Retained
                              Stock      Capital      Stock      Earnings     Total
                             --------    --------    --------    --------    --------
<S>                          <C>         <C>         <C>         <C>         <C>
BALANCE, November 30, 2004   $    308    $    885    $ (1,250)   $  8,612    $  8,555

    Dividend                     (309)       (309)
    Net income                   --          --          --         2,176       2,176
                             --------    --------    --------    --------    --------

BALANCE, November 30, 2005        308         885      (1,250)     10,479      10,422

    Dividend                     --          --          --          (387)       (387)
    Net income                   --          --          --         1,419       1,419
                             --------    --------    --------    --------    --------

BALANCE, November 30, 2006   $    308    $    885    $ (1,250)   $ 11,511    $ 11,454
                             ========    ========    ========    ========    ========
</TABLE>











                 See accompanying notes to financial statements.

<PAGE>
<TABLE>
<CAPTION>

                            MICROPAC INDUSTRIES, INC.
                            -------------------------
                            STATEMENTS OF CASH FLOWS
                            ------------------------
                 FOR THE YEARS ENDED NOVEMBER 30, 2006 AND 2005
                 ----------------------------------------------
                             (Dollars in thousands)

                                                                            2006       2005
                                                                          -------    -------
<S>                                                                       <C>        <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
    Net income                                                            $ 1,419    $ 2,176
    Adjustments to reconcile net income to
        net cash provided by operating activities-
           Depreciation and amortization                                      253        247
           Deferred tax benefit                                                (6)       (84)
    Changes in certain current assets and liabilities-
               Decrease (increase) in receivables, net                      1,009       (731)
               Increase in inventories                                       (977)      (843)
               Decrease (increase) in prepaid expenses and other assets        (1)        14
               (Decrease) increase in accounts payable                       (186)       381
               (Decrease) increase in accrued compensation                   (196)       202
                Decrease in income taxes payable                             (119)      (159)
               (Decrease) increase in all other accrued liabilities          (219)       106
                                                                          -------    -------

                  Net cash provided by operating activities                   977      1,309
                                                                          -------    -------

CASH FLOWS FROM INVESTING ACTIVITIES:
           Maturity of short term investments                                 502        (20)
Additions to property, plant, and equipment                                  (256)      (497)
                                                                          -------    -------

                  Net cash provide by (used in) in investing activities       246       (517)
                                                                          -------    -------


CASH FLOWS FROM FINANCING ACTIVITIES:
           Dividends paid                                                    (387)      (309)
                                                                          -------    -------

                  Net cash used in financing activities                      (387)      (309)
                                                                          -------    -------

NET INCREASE IN CASH AND CASH EQUIVALENTS                                     836        483

CASH AND CASH EQUIVALENTS, beginning of year                                1,722      1,239
                                                                          -------    -------

CASH AND CASH EQUIVALENTS, end of year                                    $ 2,558    $ 1,722
                                                                          =======    =======

SUPPLEMENTAL CASH FLOW DISCLOSURES:
        Cash paid for income taxes, net of refunds received               $   977    $ 1,552
                                                                          =======    =======
</TABLE>




                 See accompanying notes to financial statements.

<PAGE>

                            MICROPAC INDUSTRIES, INC.
                            -------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                           NOVEMBER 30, 2006 AND 2005
                           --------------------------


1.   BUSINESS DESCRIPTION:
     ---------------------

Micropac Industries, Inc. (the "Company"), a Delaware corporation,  manufactures
and distributes various types of hybrid  microelectronic  circuits,  solid state
relays,  power  operational  amplifiers,   and  optoelectronic   components  and
assemblies.  The  Company's  products are used as components in a broad range of
military,  space and industrial systems,  including aircraft instrumentation and
navigation systems,  power supplies,  electronic  controls,  computers,  medical
devices, and high-temperature (200o C) products.


2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
     -------------------------------------------

Revenue Recognition
-------------------

Revenues are recorded as  deliveries  are made based upon contract  prices.  Any
losses  anticipated on fixed price  contracts are provided for currently.  Sales
are recorded net of sales returns, allowances and discounts.

Short-Term Investments
----------------------

Short-term  investments include certificates of deposits with maturities greater
than  90  days.  These  investments  are  reported  at  historical  cost,  which
approximates  fair  market  value as of November  30, 2006 and 2005.  All highly
liquid  investments  with  maturities of 90 days or less are  classified as cash
equivalents. All short-term investments are securities which the Company has the
ability and intent to hold to maturity.  All held-to maturity  securities mature
within one year.

Inventories
-----------

Inventories  are stated at lower of cost or market  value and include  material,
labor and  manufacturing  overhead.  All  inventories  are valued using the FIFO
(first-in,  first-out)  method of inventory  valuation.  The Company provides an
allowance for obsolete and overstocked inventory.

Income Taxes
------------

The Company  accounts  for income  taxes using the asset and  liability  method.
Under this method the Company  records  deferred  income taxes for the temporary
differences  between the financial  reporting  basis and the tax basis of assets
and  liabilities at enacted tax rates expected to be in effect when such amounts
are realized or settled.  The resulting  deferred tax liabilities and assets are
adjusted to reflect  changes in tax law or rates in the period that includes the
enactment date.

Property, Plant, and Equipment
------------------------------

Property, plant, and equipment are carried at cost, and depreciation is provided
using the  straight-line  method at rates  based  upon the  following  estimated
useful lives (in years) of the assets:

     Buildings................................................................15
     Facility improvements..................................................8-15
     Machinery and equipment................................................5-10
     Furniture and fixtures..................................................5-8

The Company assesses long-lived assets for impairment under Financial Accounting
Standards Board Statement of Financial  Accounting Standards No. 144, Accounting
for  the   Impairment  or  Disposal  of  Long-Lived   Assets.   When  events  or
circumstances  indicate  that  an  asset  may  be  impaired,  an  assessment  is
performed.  The estimated  future  undiscounted  cash flows  associated with the
asset are compared to the asset's net book value to determine if a write down to
market value or discounted cash flow value is required.

Repairs and maintenance are charged against income when incurred.  Improvements,
which extend the useful life of property, plant, and equipment are capitalized.

Research and Development Costs
------------------------------

Costs for the design and development of new products are expensed as incurred.

<PAGE>

Comprehensive Income
--------------------

Comprehensive income includes net income and other comprehensive income which is
generally  comprised  of  changes  in  the  fair  value  of   available-for-sale
marketable securities,  foreign currency translation adjustments and adjustments
to recognise additional minimum pension  liabilities.  For each period presented
in the accompanying statement of income, comprehensive income and net income are
the same amount.

Basic and Diluted Earnings Per Share
------------------------------------

Basic and  diluted  earnings  per share are  computed  based  upon the  weighted
average number of shares outstanding during the year. Diluted earnings per share
gives effect to all dilutive potential common shares.  During 2006 and 2005, the
Company had no dilutive potential common stock.

Use of Estimates
----------------

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States  requires  management to make estimates
and assumptions  that affect the reported  amounts of assets and liabilities and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

3.   NOTES PAYABLE TO BANKS:
     -----------------------

The  Company  currently  has an  existing  line of credit  with a Texas  banking
institution.  The line of  credit  agreement  provides  the  Company  with up to
$3,000,000  for  normal  operation  of the  Company.  The  interest  rate on any
borrowings  against this credit  agreement is equal to the prime rate less 1/4%.
The line of credit requires the Company to maintain  certain  financial  ratios,
including  quick  ratio  of at least  1:1,  maintain  a  tangible  net  worth of
$6,250,000   plus   75%  of   future   net   income,   and   maintain   a  total
liabilities-to-tangible-net-worth  of  less  than  1.25:1.  The  Company  is  in
compliance with these  covenants.  The Company has not, to date, used any of the
available line of credit.

4.   RELATED PARTIES:
     ----------------

The  Company  leases a  building  from the  Company's  Chairman  of the Board of
Directors.  A lease was signed on July 1, 1999, for a term of five (5) years and
renewed in April 2004 for three (3) years under similar terms and  conditions as
the prior lease. Amounts paid under the lease agreement  approximated $45,000 in
2006 and $40,000 in 2005.

Glast,  Phillips & Murray, P.C. serves as the Company's legal counsel. Mr. James
K. Murphey, a director and member of the Company's audit committee,  is a member
of Glast, Phillips & Murray, P.C.

Effective May 13, 2003, the Company's Board of Directors  approved the formation
of an audit committee  composed of the members of the Board. It is possible that
the  members of the audit  committee  may resign  from the  committee  if future
Securities  and  Exchange  Commission  rules  establish  a  criteria  that  such
individuals must be independent,  due to their  relationships  with the Company.
The Board of  Directors  held  four (4) board  meetings  during  the year  ended
November 30, 2006.  Directors  receive a fee of $1,500.00 for each meeting.  The
Audit  Committee held four (4) meetings during the year ended November 30, 2006.
Members of the Audit Committee received a fee of $750.00 for each meeting.

5.   PRODUCT WARRANTIES:
     -------------------

In November 2002, the FASB issued  Interpretation No. 45 (FIN 45),  "Guarantor's
Accounting  and  Disclosure  Requirements  for  Guarantees,  Including  Indirect
Guarantees of  Indebtedness of Others."  Currently,  the only applicable item of
FIN  45  relates  to the  impact  of  paragraph  14,  which  refers  to  product
warranties.

Because the Company does not have extended  warranties,  the exposure is limited
to product returns for defective products. In general, the Company warrants that
the products, when delivered,  will be free from defects in material workmanship
under  normal  use and  service.  The  obligations  are  limited  to  replacing,
repairing or giving credit for, at the option of the Company,  any products that
are returned within one year after the date of shipment.

The Company reserves for potential warranty expense based on historical warranty
experience  claims.  While  management  considers  the process to be adequate to
effectively  quantify  its  exposure  to  warranty  claims  based on  historical
performance,  changes in warranty  claims on a specific or cumulative  basis may
require management to adjust its reserve for potential warranty costs.

Warranty expense to repair or replace products in 2006 and 2005, was $81,900 and
$38,600 respectively.

<PAGE>

6.   LEASE COMMITMENTS:
     ------------------

Rent expenses for the years ended November 30, 2006 and 2005, was  approximately
$49,000 and $44,000  respectively  per year. The Company's  future minimum lease
payments under  non-cancellable  operating  leases  (including the related party
lease  described in note 4) for office and  manufacturing  space with  remaining
terms in excess of one year are approximately:

     2007                              $ 20,000

7.   EMPLOYEE BENEFITS:

The Company  sponsors an Employees'  Profit Sharing Plan and Trust (the "Plan").
Pursuant to section  401(k) of the Internal  Revenue Code, the Plan is available
to  substantially  all employees of the Company.  Employee  contributions to the
Plan are matched by the Company at amounts up to 6% of the participant's salary.
Contributions  made by the  Company  were  approximately  $194,000  in 2006  and
$178,000 in 2005. Employees become vested in Company  contributions at 20% after
two years, 40% after three years, 60% after four years, 80% after five years and
100% after six years.  If the employee  leaves the Company  prior to being fully
vested,  the unvested portion of the Company's  contributions  are forfeited and
such  forfeitures  are used to lower future Company  contributions.  The Company
does not offer other post retirement benefits to its employees at this time.

8.   NEW ACCOUNTING STANDARDS
     ------------------------

In June  2006,  the  FASB  issued  Interpretation  ("FIN")  No.  48,  Employers'
Accounting for Uncertainty in Income Taxes.  FIN 48,  Accounting for Uncertainty
in  Income   Taxes--an   interpretation   of  FASB   Statement   No.  109.  This
interpretation   clarifies  the  accounting  for  uncertainty  in  income  taxes
recognized in an  enterprise's  financial  statements  in  accordance  with FASB
Statement No. 109,  Accounting for Income Taxes (SFAS 109). This  Interpretation
prescribes a recognition  threshold and measurement  attribute for the financial
statement  recognition and measurement of a tax position taken or expected to be
taken  in  a  tax  return.   This   Interpretation  also  provides  guidance  on
derecognition,  classification,  interest and  penalties,  accounting in interim
periods,  disclosure, and transition. It is effective for fiscal years beginning
after  December 15, 2006.  The Company is currently  evaluating  the impact that
this interpretation will have on its financial statements.

In September  2006, the SEC issued Staff  Accounting  Bulletin No. 108 (SAB108),
which expresses the SEC's views  regarding the process of quantifying  financial
statement  misstatements and provides guidance on quantifying and evaluating the
materiality  of  unrecorded  misstatements.  SAB  108 is  effective  for  annual
financial  statements  covering the first fiscal year ending after  November 15,
2006,  with earlier  application  encouraged for any interim period of the first
fiscal year ending after November 15, 2006,  filed after the  publication of SAB
108. The Company  implemented  SAB 108 for the year ended November 30, 2006. The
implementation  of SAB 108 did  not  have a  material  impact  on its  financial
statements.








<PAGE>

9.   INCOME TAXES:
     -------------

The income tax provision consisted of the following for the years ended November
30:


                                                   2006           2005
                                                   -----------    -----------
          Current Provision:
              Federal                              $   725,000    $ 1,200,000
              State                                    130,000        193,000
                                                   -----------    -----------
                                                       855,000      1,393,000

          Deferred Benefit                              (6,000)       (84,000)
                                                   -----------    -----------

                       Total                       $   849,000    $ 1,309,000
                                                   ===========    ===========


The  provision  for income  taxes  differs  from that  computed  at the  federal
statutory corporate tax rate as follows:

                                                   2006           2005
                                                   ----------     ----------
     Tax at 34% statutory rate                     $  771,000     $1,185,000
     State income taxes, net of federal benefit        85,000        119,000
     Permanent differences and other                   (7,000)         5,000
                                                   ----------     ----------

              Income tax provision                 $  849,000     $1,309,000
                                                   ==========     ==========


The components of deferred tax assets and liabilities were as follows:

                                          November 30, 2006   November 30, 2005
                                          -----------------   -----------------
Current Deferred Taxes -
     Allowance for doubtful accounts           $ 33,000            $ 33,000
     Inventory                                  407,000             319,000
     Accrued liabilities and other              185,000             262,000
                                               --------            --------
         Net current deferred tax asset        $625,000            $614,000
                                               --------            --------

Non-current Deferred Taxes Liability
     Depreciation and other                    $ 79,000            $ 74,000
                                               --------            --------

         Net deferred taxes                    $546,000            $540,000
                                               ========            ========



10.  SIGNIFICANT CUSTOMER INFORMATION:
     ---------------------------------

The Company's primary line of business relates to the design,  manufacture,  and
sale of hybrid microcircuits and optoelectronic components and assemblies. Sales
to primary contractors for defense and space related contracts accounted for 69%
of total sales in 2006 and 70% of total sales in 2005. No customer accounted for
10% of the  Company's  sales during  2006.  During 2005 one  customer,  Newport,
accounted for 15% of the Company's sales.


11.  SHAREHOLDERS' EQUITY:
     ---------------------

On November 30, 2006, there were approximately 527 shareholders of record of the
Company's  common  stock.  The  stock  of the  Company  is  closely  held;  and,
therefore,  certain shareholders/board members have the ability to significantly
influence decisions.

On December  22,  2005,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.15 per share dividend to all  shareholders of record
on February 3, 2006. The dividend  payment was paid to  shareholders on February
10, 2006.

On December  29,  2004,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.12 per share dividend to all  shareholders of record
on January 25, 2005. The dividend  payment was paid to  shareholders on February
8, 2005.

<PAGE>

On March 1, 2001,  the Company's  shareholders  approved the 2001 Employee Stock
Option Plan (the "Stock  Plan").  As of November  30,  2006,  there were 500,000
options  available  to be  granted;  however,  no  options  had been  granted at
year-end.

12.  SUBSEQUENT EVENTS
     -----------------

On December  22,  2006,  the Board of  Directors  of Micropac  Industries,  Inc.
approved the payment of a $.10 per share dividend to all  shareholders of record
on January 26, 2007.  The dividend  payment will be paid to  shareholders  on or
about February 9, 2007.



















<PAGE>

                             DIRECTORS AND OFFICERS
                             ----------------------
                                NOVEMBER 30, 2006


                                NICHOLAS NADOLSKY
                              Chairman of the Board
                            Micropac Industries, Inc

                                   CONNIE WOOD
                         Retired Chief Executive Officer
                            Micropac Industries, Inc.

                               HEINZ-WERNER HEMPEL
                             Chief Operating Officer
       Hanseatishe Waren Handelsgesellschaft MBH & Co. KG, Bremen, Germany


                                  H. KENT HEARN
                               Retired Stockbroker
                          Milkie-Ferguson, Dallas, Tx.


                                JAMES K. MURPHEY
                               Corporate Attorney
                     Glast, Phillips and Murray, Dallas, Tx.

                                    MARK KING
                             Chief Executive Officer
                            Micropac Industries, Inc.

                                 PATRICK CEFALU
                             Chief Financial Officer
                            Micropac Industries, Inc.









LEGAL COUNSEL                                         TRANSFER AGENT & REGISTRAR
Glast, Phillips and Murray                            Securities Transfer
Dallas, Tx                                            Frisco, Texas