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                        SECURITES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-QSB

 X   QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT
---  OF 1934

                  FOR THE QUARTERLY PERIOD ENDED APRIL 1, 2000

                                       OR

        TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT
---

                          COMMISSION FILE NUMBER 0-9478
                          -----------------------------

                           SPECTRUM LABORATORIES, INC.
             (Exact name of Registrant as specified in its charter)

             DELAWARE                                   95-4718363
  (State or other jurisdiction              (I.R.S. Employer Identification No.)
of incorporation or organization)


           18617 BROADWICK STREET, RANCHO DOMINGUEZ, CALIFORNIA 90220
           (Address of principal executive offices)           (zip code)

       Registrant's telephone number, including area code: (310) 885-4600

Indicate by check mark 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
   ---   ---

  Number of shares of Common Stock outstanding as of April 30, 2000: 5,311,968

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Spectrum Laboratories, Inc.


                                                                            Page
                                                                            ----

Part I  -  FINANCIAL INFORMATION

Item 1.    Financial Statements
           Consolidated Balance Sheet as of April 1, 2000                      3
           Consolidated Statements of Income for the Three Months Ended
            April 1, 2000 and April 3, 1999                                    4
           Consolidated Statements of Cash Flows for the Three Months
            Ended April 1, 2000 and April 3, 1999                              5
           Notes to Consolidated Statements                                    6

Item 2.    Management's Discussion and Analysis of Financial Condition
            and Results of Operations                                          7

Part II -  OTHER  INFORMATION

Item 1.    Legal Proceedings                                                   8
Item 2.    Changes in Securities                                               8
Item 3.    Defaults Upon Senior Securities                                     8
Item 4.    Submission of Matters to a Vote of Security Holders                 8
Item 5.    Other Information                                                   8
Item 6.    Exhibits and Reports on Form 8-K                                    8
Signature                                                                      9

                                       2
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Part I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

                           SPECTRUM LABORATORIES, INC.
                           CONSOLIDATED BALANCE SHEET
                               AS OF APRIL 1, 2000
                    (DOLLARS IN THOUSANDS, EXCEPT PAR VALUE)
                                   (UNAUDITED)


      ASSETS
      CURRENT ASSETS
           Cash and cash equivalents                              $         409
           Accounts receivable                                            1,795
           Inventories                                                    2,311
           Prepaid expenses                                                 260
           Deferred taxes                                                   340
                                                                  --------------

           Total current assets                                           5,115

      Equipment and leasehold improvements                                2,272
      Goodwill                                                            1,266
      Deferred taxes                                                      1,585
      Other assets                                                          156
                                                                  --------------

           TOTAL ASSETS                                           $      10,394
                                                                  ==============

      LIABILITIES AND STOCKHOLDERS' EQUITY
      CURRENT LIABILITIES
           Current portion of long-term debt                      $         927
           Accounts payable                                                 524
           Accrued expenses and other current liabilities                   948
                                                                  --------------

           Total current liabilities                                      2,399

      LONG-TERM DEBT, less current portion                                  720

      MINORITY INTEREST                                                   1,755

      STOCKHOLDERS' EQUITY
           Common stock, par value $.01: 25,000,000 shares
              authorized; 5,311,968 issued and outstanding                   53
           Preferred stock, par value $.01: 10,000,000
              shares authorized;
              None issued or outstanding
           Additional paid-in capital                                     8,368
           Accumulated deficit                                           (2,901)
                                                                  --------------

      TOTAL STOCKHOLDERS' EQUITY                                          5,520
                                                                  --------------

      TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                  $      10,394
                                                                  ==============

                                       3
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                           SPECTRUM LABORATORIES, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
               THREE MONTHS ENDED APRIL 1, 2000 AND APRIL 3, 1999
                  (IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS)
                                   (UNAUDITED)

                                                       2000            1999
                                                  --------------  --------------

  NET SALES                                       $       3,371   $       3,297

  COSTS AND EXPENSES
    Cost of sales                                         1,717           1,671
    Selling                                                 319             340
    General and administrative                              766             731
    Research and development                                161             163
    Other expense, primarily interest                        30              48
                                                  --------------  --------------

    Total costs and expenses                              2,993           2,953

  Income before provision for income taxes                  378             344

  Provision for income taxes                                151             141
                                                  --------------  --------------

  Net income                                      $         227   $         203
                                                  ==============  ==============



  Earnings per share
      Basic                                       $         .04   $         .04
                                                  ==============  ==============
      Diluted                                     $         .04   $         .04
                                                  ==============  ==============

  Weighted average shares outstanding
      Basic                                               5,312           5,312
                                                  ==============  ==============
      Diluted                                             5,447           5,459
                                                  ==============  ==============

                                       4
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                           SPECTRUM LABORATORIES, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               THREE MONTHS ENDED APRIL 1, 2000 AND APRIL 3, 1999
                                 (IN THOUSANDS)
                                   (UNAUDITED)

                                                       2000            1999
                                                  --------------  --------------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income                                        $         227   $         203
Adjustments to reconcile net income to net cash
    provided by operating activities:
Depreciation and amortization                               135             175
Noncash compensation                                         21              10
Change in assets and liabilities:
Increase in accounts receivables                           (287)            (35)
Decrease in inventories                                      78             119
Decrease (increase) in prepaid expenses                      27             (80)
Decrease (increase) in other assets                          11             (28)
Decrease in accounts payable                               (287)            (45)
Increase in accrued expenses and other current
  liabilities                                               211             220
                                                  --------------  --------------

Net cash provided by operating activities                   136             539
                                                  --------------  --------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of equipment and leasehold
  improvements                                              (71)            (75)
Advances to principal shareholder                                           (39)
Proceeds from the sale of equipment                                          29
                                                  --------------  --------------

Net cash used in investing activities                       (71)            (85)
                                                  --------------  --------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt                                 (206)           (266)
                                                  --------------  --------------

Net cash used in financing activities                      (206)           (266)
                                                  --------------  --------------


NET (DECREASE) INCREASE IN CASH AND CASH
  EQUIVALENTS                                              (141)            188

CASH AND CASH EQUIVALENTS, beginning of period              550             855
                                                  --------------  --------------

CASH AND CASH EQUIVALENTS, end of period          $         409   $       1,043
                                                  ==============  ==============

                                       5
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NOTES TO CONSOLIDATED STATEMENTS

Note 1 - Basis of Presentation

The accompanying unaudited financial statements consolidate the accounts of
Spectrum Laboratories, Inc. and its subsidiaries, SLI Acquisition Corp.,
Spectrum Europe B.V. and Spectrum Chromatography (collectively, the Company).
All significant intercompany transactions have been eliminated in consolidation.
In the opinion of management, the accompanying unaudited interim consolidated
financial statements contain all adjustments (consisting only of normal
recurring accruals) necessary to present fairly the financial position of the
Company as of April 1, 2000 and the results of its operations and its cash flows
for the three months ended April 1, 2000 and April 3, 1999. Certain information
and footnote disclosures normally included in the financial statements have been
condensed or omitted pursuant to rules and regulations of the Securities and
Exchange Commission, although the Company believes that the disclosures in the
unaudited interim financial statements are adequate to make the information
presented not misleading.

Note 2 - Inventories

Inventories are stated at the lower of cost, determined using the first-in,
first-out method, or net realizable value and are composed of the following (in
thousands):

                   Raw materials                  $       1,312
                   Work in progress                         191
                   Finished goods                           808
                                                  --------------

                                                  $       2,311
                                                  ==============

Note 3 - Earnings per Share

Basic earnings per share is computed by dividing the net income attributable to
the common stockholders by the weighted average number of common shares
outstanding during the period. There is no adjustment in the net income
attributable to common stockholders. Diluted earnings per share reflects the
potential dilution that could occur from common shares issuable through stock
options (134,822 and 146,592 shares in the 2000 and 1999, fiscal periods,
respectively).

Note 4 - Income Taxes

In assessing the realizability of deferred tax assets, management has estimated
that it is more likely than not that approximately $2,200,000 will not be
realized. Approximately $1,500,000 of the valuation allowance represents a
portion of net operating loss carryforwards attained through a prior business
acquisition. As further discussed below, tax law limits the use of an acquired
entity's net operating loss carryforwards to subsequent taxable income of the
consolidated entity.

At January 1, 2000, the Company had approximately $8.3 million in net operating
loss carryforwards for federal income tax purposes available to offset future
taxable income. Certain of these loss carryforwards are limited to approximately
$298,000 annually. Any unused net operating loss is carried forward. As a result
of the limitation, it is possible that more than $4,500,000 of the entity's net
operating loss may expire without utilization. Loss carryforwards for tax
purposes expire in amounts and by fiscal year as follows: 2003 $909,000; 2004
$2,279,000; 2005 $1,319,000; 2011 $20,000; 2012 $347,000; 2013 $776,000; 2014 to
2021 $299,000 per year; 2022 $275,000.

Note 5 - Product Group Information

The Company's product groups are based on specific product characteristics and
are grouped into laboratory products and operating room disposable products.
Laboratory products consist primarily of: (1) membranes used to concentrate,
separate and purify dissolved or suspended molecules that are sold primarily to
laboratories and (2) hollow fiber membrane devices that allow components
retained by a membrane to be concentrated including filters utilized for micro
and ultrafiltration separations that are sold to biotech and pharmaceutical

                                       6
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companies. Operating room disposable products consist primarily of sterile
plastic surgical drapes and cloth bandages that are sold primarily to hospitals.

Revenue by product group is as follows (in thousands):

                                                       2000            1999
                                                  --------------  --------------

Laboratory products                               $       2,910   $       2,874
Operating room disposable products                          461             423
                                                  --------------  --------------

                                                  $       3,371   $       3,297
                                                  ==============  ==============

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

The following discussion should be read in conjunction with the Consolidated
Financial Statements of Spectrum Laboratories, Inc. and Notes thereto contained
elsewhere within this Report on Form 10-QSB. Except for the historical
information contained herein, the following discussion may contain
forward-looking statements that involve risks and uncertainties. The actual
future results of the Company could differ materially from those discussed here.
Factors that could cause or contribute to such differences include, but are not
limited to, those discussed in this report and those factors discussed in the
Company's Form 10-KSB for the year ended January 1, 2000 as filed with the
Securities and Exchange Commission and, from time to time, in the Company's
other reports on file with the Commission.

Results of Operations

Net sales and costs and expenses - There have been no significant changes in net
sales, including quantities and prices, or in costs and expenses for the three
months ended April 1, 2000 as compared to the three months ended April 3, 1999.

Income taxes - The Company has applied a valuation allowance on its net deferred
tax assets which exceed the recoverability of those assets from estimated future
taxable income for the next three years. This valuation allowance could change
substantially in future years due to changes in estimates of future taxable
income and changes in the components of the deferred tax assets. Accordingly,
income taxes as a percentage of income before income taxes could vary
significantly in future years.

Liquidity and Capital Resources

During the first quarter of fiscal 2000, the Company generated approximately
$136,000 of cash from operating activities. Net income before non-cash expenses
of depreciation and amortization was the primary source of these cash flows,
which was offset by a $247,000 net increase in operating assets.

The Company has two loans with a bank under a loan agreement. One of the loans,
with a balance of approximately $207,000 at April 1, 2000, matures on July 1,
2000. The Company expects to request an extension of the maturity date but,
while such requests have been granted in the past, there is no assurance that
such request, if made, will be granted.

The Company believes that cash on hand and cash expected to be generated from
operations will be sufficient to meet operating cash requirements for the next
twelve months, subject to the following.

In October 1996, a subsidiary of the Company, SLI Acquisition Corp. (SLIAC),
acquired certain assets and liabilities of Cellco, Inc., a Delaware corporation,
in exchange for 10,000 shares of SLIAC's preferred stock valued at $2,000,000.
At January 1, 2000, there is $1,755,000 of the preferred stock still
outstanding. Beginning October 1, 2000, and continuing until September 30, 2001,
the holders of the preferred stock have the right to put their stock to SLIAC
for an aggregate price of $1,755,000. In the event SLIAC is combined with the
Company and the combined company completes an underwritten offering, the
preferred stockholders have the right to exchange such stock for 7% of the newly
combined company. If the preferred stockholders convert their stock wholly, or
in a substantial portion, to a cash payment, the Company would most probably be

                                       7
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required to obtain additional funds from outside sources and there is no
assurance that such financing, if necessary, could be obtained.


Part II.  OTHER INFORMATION

Item 1.  Legal Proceedings
         The Company is party to various claims and litigation that arise in the
         normal course of business. While any litigation contains an element of
         uncertainty, management believes that the ultimate outcome of these
         claims and litigation will not have a material adverse effect on the
         Company's results of operations or financial condition.

Item 2.  Change in Securities
         None

Item 3.  Defaults upon Senior Securities
         None

Item 4.  Submission of Matters to a Vote of Security Holders
         None

Item 5.  Other Information
         None

Item 6.  Exhibits and reports on Form 8-K

         (a) Exhibits - None

         (b) The Company filed no reports on Form 8-K filed during the quarter
             ended April 1, 2000.

                                       8
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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

SPECTRUM LABORATORIES, INC.
(Registrant)




/s/  F. Jesus Martinez
----------------------
Signature

F. Jesus Martinez
President

Date:  May 10, 2000




/s/  Larry D. Womack
----------------------
Signature

Larry D. Womack
Vice President Finance

Date:  May 10, 2000