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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

   
                                 FORM 10-Q/A
    

(X) Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934

                         For the quarterly period ended:

                               SEPTEMBER 30, 1997

                                       or

( ) Transition Report Pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

                         Commission File Number: 0-9463

                                  ULTRAK, INC.

             (Exact name of registrant as specified in its charter)


         Delaware                                75-2626358
(State or other jurisdiction of                  (I.R.S. Employer
incorporation or organization)                   Identification No.)

1220 Champion Circle, Suite 100,
Carrollton, Texas                                75006
(Address of principal executive offices)         (Zip Code)

                                 (972) 280-9675
             (Registrant's telephone number, including area code)

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                                                     Yes [X]   No [ ]

     Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of September 30, 1997: 14,445,475 shares of $.01 par value
common stock.


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           ULTRAK. INC. AND SUBSIDIARIES
         CONSOLIDATED STATEMENTS OF INCOME
                    (Unaudited)


   
<TABLE>
<CAPTION>
                                                THREE MONTHS         THREE MONTHS        NINE MONTHS           NINE MONTHS
                                                    ENDED               ENDED               ENDED                 ENDED 
                                             SEPTEMBER 30,1997   SEPTEMBER 30, 1996   SEPTEMBER 30, 1997   SEPTEMBER 30, 1996
                                             -----------------   ------------------   ------------------   ------------------
<S>                                          <C>                        <C>                 <C>                   <C>       
Net sales                                    $     50,701,185           35,151,344          135,257,458           96,591,813
Cost of sales                                      34,690,739           24,075,309           92,307,388           67,962,910
                                             ----------------     ----------------     ----------------     ----------------

     Gross profit                                  16,010,446           11,076,035           42,950,070           28,628,903

Other operating costs:
   Marketing and sales                              7,964,519            4,716,657           21,555,619           13,399,182
   General and administrative                       4,626,636            2,416,421           12,599,239            5,470,703
   Depreciation and goodwill amortization           1,086,263              356,651            2,831,051              913,828
                                             ----------------     ----------------     ----------------     ----------------
                                                   13,677,418            7,489,729           36,985,909           19,783,713
                                             ----------------     ----------------     ----------------     ----------------

     Operating profits                              2,333,028            3,586,306            5,964,161            8,845,190

Other (expense) income:
   Interest (expense) income                          415,178              104,287            1,647,058             (782,516)
   Costs of terminated merger                               0                    0             (697,055)                   0
   Other, net                                         539,473             (103,904)             932,146             (154,180)
                                             ----------------     ----------------     ----------------     ----------------
                                                      954,651                  383            1,882,149             (936,696)
                                             ----------------     ----------------     ----------------     ----------------

Income before income taxes                          3,287,679            3,586,689            7,846,310            7,908,494
     Income taxes                                  (1,271,072)          (1,256,005)          (2,918,827)          (2,773,579)
                                             ----------------     ----------------     ----------------     ----------------

NET INCOME                                          2,016,607            2,329,884            4,927,483            5,134,915

Dividend requirements on
preferred stock                                       (29,302)             (29,302)             (87,908)             (87,908)
                                             ----------------     ----------------     ----------------     ----------------

Net income allocable to
common stockholders                          $      1,987,305            2,300,582            4,839,575            5,047,007
                                             ================     ================     ================     ================

Income per share:
   Primary                                   $            .14     $            .21     $            .33     $            .55
                                             ================     ================     ================     ================
   Assuming Full Dilution                    $            .14     $            .20     $            .33     $            .54
                                             ================     ================     ================     ================

Number of common shares
used in computations:
   Primary                                         14,462,583           10,926,586           14,497,937            9,131,371
                                             ================     ================     ================     ================
   Assuming Full Dilution                          14,920,454           11,365,974           14,921,881            9,591,141
                                             ================     ================     ================     ================
</TABLE>
    

The accompanying notes are an integral part of the consolidated financial
statements





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                          ULTRAK, INC. AND SUBSIDIARIES

                                   SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                    ULTRAK, INC.
                                    (Registrant)


   
Date: November 20, 1997             By: /s/ TIM D. TORNO
                                       --------------------------------
                                    Tim D. Torno
                                    Principal Financial and
                                    Accounting Officer
    



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