SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934 for the quarterly period ended June 30, 2001.

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE  ACT OF 1934  for the  transition  period  from  _____________  to
     _______________.

                        Commission file number: 000-22673

                            SCHICK TECHNOLOGIES, INC.
             (Exact name of registrant as specified in its charter)

               Delaware                                         11-3374812
     (State or other jurisdiction of                         (I.R.S. Employer
     incorporation or organization)                       Identification Number)

         30-00 47th Avenue                                         11101
     Long Island City, New York                                 (Zip Code)
(Address of principal executive offices)

       Registrant's telephone number, including area code: (718) 937-5765

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 [  ]

As of July 31,  2001,  10,138,992  shares of common  stock,  par value  $.01 per
share, were outstanding.


<PAGE>


SCHICK TECHNOLOGIES, INC.

                                TABLE OF CONTENTS

PART I.   FINANCIAL INFORMATION:

    Item 1. Financial Statements:

            Consolidated Balance Sheets as of June 30, 2001 (unaudited)
            and March 31,2001...........................................Page 1

            Consolidated Statements of Operations for the three months ended
            June 30, 2001 and 2000 (unaudited)..........................Page 2

            Consolidated Statements of Cash Flows for the three months ended
            June 30, 2001 and 2000 (unaudited)..........................Page 3

            Notes to Consolidated Financial Statements .................Page 4

    Item 2. Management's Discussion and Analysis of Financial Condition
            and Results of Operations...................................Page 9

    Item 3. Quantitative and Qualitative Disclosures about Market Risk..Page 12

PART II. OTHER INFORMATION:

    Item 1. Legal Proceedings...........................................Page 12

    Item 2. Changes in Securities and Use of Proceeds...................Page 13

    Item 3. Defaults Upon Senior Securities.............................Page 13

    Item 4. Submission of Matters to a Vote of Security Holders.........Page 13

    Item 5. Other Information...........................................Page 13

    Item 6. Exhibits and Reports on Form 8-K............................Page 13

SIGNATURES   ...........................................................Page 14


<PAGE>

PART I.  Financial Information
Item 1.  Financial Statements --

Schick Technologies, Inc and Subsidiary
Consolidated Balance Sheet
(In thousands, except share amounts)

<TABLE>
<CAPTION>
                                                                                        June 30,    March 31,
                                                                                        --------    ---------
                                                                                                2001
                                                                                                ----
                                                                                       (unaudited)
<S>                                                                                     <C>         <C>
Assets
Current assets
            Cash and cash equivalents                                                   $  1,583    $  2,167
            Short - term investments                                                           8           8
            Accounts receivable, net of allowance for
                doubtful accounts of $1,866 and $1,818, respectively                       1,842         977
            Inventories                                                                    3,701       3,820
            Income taxes receivable                                                           15          21
            Prepayments and other current assets                                             187         176
                                                                                        --------    --------
                                         Total current assets                              7,336       7,169
                                                                                        --------    --------
Equipment, net                                                                             3,606       3,489
Investments                                                                                  815         815
Other assets                                                                               1,104       1,173
                                                                                        --------    --------
                                         Total assets                                   $ 12,861    $ 12,646
                                                                                        ========    ========

Liabilities and Stockholders' Equity
Current liabilities
            Current maturity of long term debt                                          $  2,339    $  2,851
            Accounts payable and accrued expenses                                          2,177       1,801
            Accrued salaries and commissions                                                 409         347
            Deferred revenue                                                               3,664       3,132
            Deposits from customers                                                           98         483
            Warranty obligations                                                             141         141
                                                                                        --------    --------
                                          Total current liabilities                        8,828       8,755
                                                                                        --------    --------
Long term debt                                                                             3,595       4,080
                                                                                        --------    --------

                                         Total liabilities                                12,423      12,835
                                                                                        --------    --------

Commitments and contingencies                                                                 --          --

Stockholders' equity
            Preferred stock ($0.01 par value; 2,500,000
                 shares authorized; none issued and outstanding)                              --          --

            Common stock ($0.01 par value; 25,000,000 shares authorized:
                 10,137,193 shares issued and outstanding)                                   101         101
            Additional paid-in capital                                                    42,480      42,480
            Accumulated deficit                                                          (42,143)    (42,770)
                                                                                        --------    --------
                                         Total stockholders' equity                          438        (189)
                                                                                        --------    --------
                                         Total liabilities and stockholders' equity     $ 12,861    $ 12,646
                                                                                        ========    ========

</TABLE>

-------------
The accompanying notes are an integral part of these financial statements.


                                       1
<PAGE>

Schick Technologies, Inc and Subsidiary
Consolidated Statements of Operations - (unaudited)
(In thousands, except share amounts)
<TABLE>
<CAPTION>

                                                                                    Three months ended
                                                                                          June 30
                                                                                2001                   2000
                                                                                ----                   ----
<S>                                                                        <C>                     <C>
Revenue, net                                                               $      5,841            $      6,243

Cost of sales                                                                     2,198                   3,096
Excess and obsolete inventory                                                       100                      --
                                                                           ------------            ------------
Total cost of sales                                                               2,298                   3,096
                                                                           ------------            ------------

                      Gross profit                                                3,543                   3,147
                                                                           ------------            ------------

Operating expenses:
       Selling and marketing                                                      1,302                   1,614
       General and administrative                                                   980                   1,161
       Research and development                                                     530                     554
       Bad debt recovery                                                            (43)                     --
                                                                           ------------            ------------

                      Total operating costs                                       2,769                   3,329
                                                                           ------------            ------------

                      Income (loss) from operations                                 774                    (182)
                                                                           ------------            ------------

Other income (expense):
       Other income                                                                  43                      --
       Interest income                                                               20                      14
       Interest expense                                                            (210)                   (359)
                                                                           ------------            ------------

                      Total other expense, net                                     (147)                   (345)
                                                                           ------------            ------------

                      Income (loss) before income taxes                             627                    (527)

                      Provision for income taxes                                     --                      --
                                                                           ------------            ------------

                      Net income                                           $        627            $       (527)
                                                                           ============            ============

                      Basic earnings per share                             $       0.06            $      (0.05)
                                                                           ============            ============
                      Diluted earnings per share                           $       0.05            $      (0.05)
                                                                           ============            ============
                      Weighted average common shares (basic)                 10,137,193              10,134,384
                                                                           ============            ============
                      Weighted average common shares (diluted)               11,470,010              10,134,384
                                                                           ============            ============
</TABLE>

-------------
The accompanying notes are an integral part of these financial statements.


                                       2
<PAGE>



Schick Technologies, Inc and Subsidiary
Consolidated Statements of Cash Flows - (unaudited)
(In thousands)

<TABLE>
<CAPTION>
                                                                                           Three months ended
                                                                                                June 30,
                                                                                         2001              2000
                                                                                         ----              ----
<S>                                                                                    <C>               <C>
Cash flows from operating activities
        Net income (loss)                                                              $   627           $  (527)
        Adjustments to reconcile net loss to
         net cash provide by (used in) operating activities
            Depreciation and amortization                                                  391               477
            Bad debt recovery                                                              (43)               --
            Provision for excess and obsolete inventory                                    100                --
            Amortization of deferred financing charge                                       27               104
            Interest accretion                                                              12                12
            Changes in assets and liabilities:
                      Accounts receivable                                                 (822)              138
                      Inventories                                                           19               537
                      Income taxes receivable                                                6                --
                      Prepayments and other current assets                                 (11)               57
                      Other assets                                                           1                (6)
                      Accounts payable and accrued expenses                                438            (1,292)
                      Deferred revenue                                                     532               482
                      Deposits from customers                                             (385)             (317)
                      Warranty obligations                                                  --               (63)
                                                                                       -------           -------
                                     Net cash provided by (used in) operating
                                     activities                                            892              (398)
                                                                                       -------           -------
Cash flows from investing activities
         Capital expenditures                                                             (467)              (30)
                                                                                       -------           -------
                                     Net cash used in investing activities                (467)              (30)
                                                                                       -------           -------
Cash flows from financing activities
         Payment of long term debt                                                      (1,009)              (14)
                                                                                       -------           -------
                                     Net cash used in financing activities              (1,009)              (14)
                                                                                       -------           -------

Net decrease in cash and cash equivalents                                                 (584)             (442)
Cash and cash equivalents at beginning of period                                         2,167             1,429
                                                                                       -------           -------

Cash and cash equivalents at end of period                                             $ 1,583           $   987
                                                                                       =======           =======
</TABLE>


-------------
The accompanying notes are an integral part of these financial statements.



                                       3
<PAGE>

Schick Technologies, Inc. and Subsidiary
Notes to Consolidated Financial Statements (unaudited)
(in thousands, except share and per share amounts)

1. Basis of Presentation

     The consolidated  financial  statements of Schick  Technologies,  Inc. (the
"Company") have been prepared in accordance with accounting principles generally
accepted  in the United  States of America  ("US  GAAP") for  interim  financial
information and the rules of the Securities and Exchange  Commission (the "SEC")
for quarterly  reports on Form 10-Q,  and do not include all of the  information
and footnote disclosures required by US GAAP for complete financial  statements.
These  statements  should be read in conjunction  with the audited  consolidated
financial  statements  and notes  thereto  for the year  ended  March  31,  2001
included in the Company's Annual Report on Form 10-K.

     In the  opinion of  management,  the  accompanying  unaudited  consolidated
financial  statements include all adjustments  (consisting of normal,  recurring
adjustments)  necessary for a fair presentation of results of operations for the
interim  periods.  The results of operations for the three months ended June 30,
2001, are not necessarily  indicative of the results to be expected for the full
year ending March 31, 2002.

     The  consolidated  financial  statements of the Company,  at June 30, 2001,
include  the  accounts  of the  Company  and its wholly  owned  subsidiary.  All
significant intercompany balances have been eliminated.

2.   Liquidity

     The Company had net income of $627 and  incurred net losses of $527 for the
three months ended June 30, 2001 and 2000,  respectively.  The Company  incurred
net losses of $1,638,  $12,331 and  $29,606 in the years  ended March 31,  2001,
2000 and 1999,  respectively.  The Company has an accumulated deficit of $42,143
and working capital deficiency of $1,492 at June 30, 2001.

     In response to the losses  incurred,  management  has  implemented  certain
corrective actions,  which include,  but are not limited to, (1) reducing staff,
space and other overhead expenditures,  (2) curtailing certain sales promotions,
(3) tightening  credit policies and payment terms, (4)  aggressively  collecting
past-due  balances  from  customers,  (5)  consolidating  and reducing its sales
force, by entering into new distribution  agreements,  (6) implementing programs
to  increase  warranty  revenue and recover  warranty  costs from the  Company's
customers,  (7)  employing  new senior  management  including an Executive  Vice
President who directly oversees the Company's sales and marketing  efforts,  (8)
improving inventory yields and disposing of excess and obsolete  inventory,  and
(9) modifying and improving the Company's  products to improve  reliability  and
reduce warranty expenditures.

     Additionally,  the  Company  has  taken  the  following  steps  to  improve
operations  and provide for  adequate  resources to fund the  Company's  capital
needs for the next twelve months:

     o In April 2000,  the Company  entered  into an  exclusive  distributorship
agreement with Patterson  Dental Company,  which grants  Patterson the rights to
distribute the Company's dental products in the United States and Canada.

     o In May 2000,  the Company  entered  into an  agreement,  subject to court
approval,  for the settlement of a class action lawsuit against the Company. The
Company's insurance carrier will pay the settlement amount in its entirety. (See
Note 12).

     o In June 2000, the Company  renegotiated a $ 6.2 million term note payable
increasing  the  principal  balance to $ 6.6  million(refinancing  certain trade
payables on a long term basis),  eliminating  principal payments through January
2001 and extending the maturity date from March 2001 to April 2005.

     o In  July  2001,  a  Director  of  the  Company  made a  commitment  ("the
Commitment")  to make an equity  investment in the Company in the minimum amount
of $1 million,  subject to the approval and acceptance of the Company's Board of
Directors.

     o In fiscal 2001, the Company entered into several foreign  distributorship
agreements.

     In view of the matters  described in the preceding  paragraphs,  Management
believes  the Company has the ability to meet its  financing  requirements  on a
continuing  basis.  However,  if the  Company's  fiscal 2002  planned  cash flow
projections  are not met,  Management  could  consider the  reduction of certain
discretionary expenses and sale of certain assets. In the event that these plans
are not sufficient and the Company's  credit  facilities are not available,  the
Company's ability to operate could be adversely affected.

     Additionally,   Management  is  currently  evaluating  the  Commitment  and
exploring supplemental and alternative financing sources.  However, there can be
no assurance that such  financing  will be available on terms  acceptable to the
Company or that the Company's cash needs will not be greater than anticipated.

3. Inventories

     Inventories are comprised of the following:

                                       June 30, 2001        March 31, 2001
                                       -------------        --------------
        Raw materials                        $ 2,828                $3,046
        Work-in-process                          112                   119
        Finished goods                           761                   655
                                             -------               -------
        Total inventories                    $ 3,701               $ 3,820
                                             =======               =======

4. Accounting for Business Combinations, Intangible Assets and Goodwill

     In July 2001, the Financial Accounting Standards Board issued SFAS No. 141,
"Business  Combinations" and SFAS 142,  "Goodwill and Other Intangible  Assets".
The new standards require that all business combinations initiated after June 30
2001  must be  accounted  for  under  the  purchase  method.  In  addition,  all
intangible assets acquired that are obtained through contractual or legal right,
or are  capable  of being  separately  sold,  transferred,  licensed,  rented or
exchanged  shall be  recognized  as an asset apart from  goodwill.  Goodwill and
intangibles with indefinite lives will no longer be subject to amortization, but
will be subject to at least an annual  assessment  for  impairment by applying a
fair value based test.

     The Company will continue to amortize  under its current method until April
1, 2002. Thereafter, annual goodwill and quarterly goodwill amortization of $107
and $27 respectively,  will no longer be recognized.  By September 30, 2002, the
Company will perform a transitional  fair value based impairment test and if the
fair value is less than the  recorded  value at April 1, 2002,  the Company will
record an impairment loss in the June 30, 2002 quarter,  as a cumulative  effect
of a change in accounting principle.


5. Debt

     Long-term debt is summarized as follows:

                                         June 30, 2001         March 31, 2001
                                         -------------         --------------
         Term notes                            $ 5,287                $ 6,296
         Secured credit facility                   647                    635
                                               -------                -------
                                                 5,934                  6,931
         Less current maturities                 2,339                  2,851
                                               -------                -------
                                               $ 3,595                $ 4,080
                                               =======                =======


                                       4
<PAGE>

    Term Notes

     In June 2000,  the Company  amended its term note  increasing its principal
balance to $6,596 ("the amended note").  The term note was originally  issued in
March 1999 for $5,000 and renewed in July 1999 for $6,222 (the "renewed  note").
The increase in the principal  amounts  resulted from the  conversion of certain
trade payables owed to the lender into the principal  balance of the notes.  The
amended note is segregated into two term loans:  Term Loan A amounting to $5,000
and Term Loan B amounting to $1,596.

    Term Loan A

     The  principal  balance of term loan A is  payable  in 49 monthly  payments
which commenced April 15, 2001, with interest  payable monthly at the prime rate
plus 2.5% commencing April 15, 2000.

    Term Loan B

     The  principal  balance of term loan B is  payable  in 27 monthly  payments
which commenced January 15, 2001 with interest payable monthly at the prime rate
plus 2.5% commencing April 15, 2000.

     The Company is also required to make additional principal payments equal to
fifty percent of the "positive  actual cash flow",  as defined.  In May 2001 the
Company made a prepayment of $750 in satisfaction  of this  provision.  The term
loans  have been  classified  based  upon the  terms of the  amended  note.  The
tangible and intangible  assets of the Company,  as defined,  collateralize  the
term loans.

     In connection  with the renewed note, the Company  granted the lender,  DVI
Financial Services, Inc. ("DVI"), 650,000 warrants at an exercise price of $2.19
expiring on November 15, 2004. The fair value of the warrants  amounted to $596,
and is  accounted for as deferred  financing  costs.  The costs are, included in
"Other Assets" in the  accompanying  balance sheet and are being  amortized on a
straight-line basis over the life of the renewed note (17 months). In connection
with the amended note,  the warrants'  exercise  price was reduced to $.75,  the
expiration date extended to December 2006 and anti-dilution protection providing
for  exercise of the  warrant to result in 5%  ownership  was added.  Additional
deferred  financing costs of $130 were incurred and are being amortized over the
five-year life of the amended note.  Interest expense of  approximately  $24 and
$104  relating to this  warrants  issuance was  recognized  for the three months
ending June 30, 2001 and June 30, 2000, respectively.

     Effective August 28, 2000, DVI sold all its rights,  title and interest in,
to and under the  warrants,  notes  payable and security  agreement as described
above,  to the Company's  other secured  creditor  (Greystone).  By letter dated
October 11, 2000,  DVI directed the Company to make all  remaining  payments due
for the notes payable directly to Greystone.

Secured Credit Facility

     In December  1999,  the Company  entered into a Loan  Agreement  (the "Loan
Agreement") with Greystone  Funding  Corporation  ("Greystone") to provide up to
$7.5  million of  subordinated  debt in the form of a secured  credit  facility.
Under the Loan  Agreement,  the Company  appointed two of Greystone's  executive
officers, one as President of the Company and both as Directors. Pursuant to the
Loan  Agreement,  and to induce  Greystone  to enter  into said  Agreement,  the
Company issued to Greystone,  or its designees,  warrants to purchase  3,000,000
shares of the  Company's  Common Stock at an exercise  price of $0.75 per share.
The  President  of the Company has been issued  750,000  warrants as a Greystone
designee.  The Company agreed to issue to Greystone or its designees warrants to
purchase an additional  2,000,000 shares at an exercise price of $0.75 per share
in  connection  with a cash payment of $1 million by Greystone to the Company in
consideration of a sale of Photobit stock by the Company to Greystone.  The sale
of the  Photobit  stock was made  subject  to a right of first  refusal  held by
Photobit  and its  founders.  By letter dated  February  17,  2000,  counsel for
Photobit informed the Company that Photobit  considers the Company's sale of its
shares to Greystone to be void on the basis of the Company's  purported  failure
to properly comply with Photobit's right of first refusal.

     On March 17, 2000,  the Company and  Greystone  entered into an Amended and
Restated  Loan  Agreement  effective as of December 27, 1999 (the  "Amended Loan


                                       5
<PAGE>

Agreement")  pursuant to which Greystone agreed to provide up to $7.5 million of
subordinated debt in the form of a secured credit facility.  The $1 million cash
payment to the Company  was  converted  as of December  27, 1999 into an initial
advance of $1 million under the Amended Loan Agreement.  Pursuant to the Amended
Loan Agreement,  and to induce Greystone,  and its designees, to enter into said
Agreement, the Company issued warrants to Greystone or its designees, consisting
of those  warrants  previously  issued  under the Loan  Agreement,  to  purchase
5,000,000 shares of the Company's Common Stock at an exercise price of $0.75 per
share, exercisable at any time after December 27, 1999.

     Under the Amended Loan Agreement,  the Company also issued to Greystone (or
its designees)  warrants (the  "Additional  Warrants") to purchase an additional
13,000,000 shares of common stock, which Additional Warrants were to vest and be
exercisable  at a rate of two shares of Common  Stock for each  dollar  advanced
under the Amended  Loan  Agreement  in excess of the initial draw of $1 million.
Any Additional Warrants,  which did not vest prior to expiration or surrender of
the line of credit,  were to be forfeited and canceled.  In connection  with the
Greystone  secured  credit  facility,  effective as of February  15,  2000,  DVI
consented  to the  Company's  grant  to  Greystone  of a  second  priority  lien
encumbering  the  Company's  assets,  under and subject in priority and right of
payment to all liens granted by the Company to DVI.

     The $1 million  proceeds of the initial draw has been allocated to the loan
and 15  million  warrants  issued,  based  upon their  relative  fair  values at
issuance.  The carrying  value of the note of $575 is being accreted to the face
value of the $1 million using the interest  method over the  seven-year  term of
the loan.  However,  in the event that the loan is paid sooner, the Company will
recognize a charge for the unamortized  discount  remaining in such period.  The
fair  value of 3 million  warrants  issued  in  connection  with the  agreement,
amounting to $90, is being accounted for as deferred  financing cost. This cost,
included in "Other Assets" in the accompanying balance sheet, is being amortized
on a straight-line basis over the five-year life of the loan. Interest under the
credit line is due monthly at an annual rate of 10% until December 2004 when the
outstanding loan is due to be repaid.  The secured term notes and secured credit
facility are subject to various financial and restrictive  covenants  including,
among others, interest coverage, current ratio, and EBITDA.

     On July 5, 2001,  the Company  repaid all  outstanding  advances  under the
Greystone  Amended Loan  Agreement,  together with all unpaid  accrued  interest
thereunder  ($1.05  million),  and  concurrently  terminated  said  Amended Loan
Agreement. Approximately $423 representing the unamortized discount and deferred
financing  costs  relating  to the  Amended  Loan  Agreement  will be charged to
expense in July 2001.

     On July 12, 2001,  the Company and  Greystone  entered  into a  Termination
Agreement  effective  as of March 31,  2001,  acknowledging  the  repayment  and
surrender of the line of credit and agreeing that all the Company's  obligations
thereunder have been fully satisfied.  The Company and Greystone further agreed,
among other matters,  that: (i) five million  warrants held by Greystone and its
assigns to purchase Common Stock of the Company remain in full force and effect;
(ii) the Registration  Rights Agreement  between Greystone and the Company dated
as of December 27, 1999 remains in full force and effect;  and (iii) for so long
as Jeffrey  Slovin holds the office of  President  of the  Company,  the Company
shall reimburse Greystone in the amount of $17 monthly.


     Principal maturities of long-term debt are as follows:

            Year ending June 30,
            --------------------
                    2002                                   $2,339
                    2003                                    1,521
                    2004                                    1,236
                    2005                                      838
                                                           ------
                                                           $5,934
                                                           ======

                                       6
<PAGE>

6.   Contingencies

Product Liability

     The Company is subject to the risk of product liability and other liability
claims in the event that the use of its products  results in personal  injury or
other claims.  Although the Company has not  experienced  any product  liability
claims to date, any such claims could have an adverse impact on the Company. The
Company maintains  insurance  coverage related to product liability claims,  but
there can be no  assurance  that  product  or other  claims  will not exceed its
insurance  coverage limits, or that such insurance will continue to be available
on commercially acceptable terms, or at all.

SEC Investigation and Other

     In August 1999,  the Company,  through its outside  counsel,  contacted the
Division of Enforcement of the  Securities  and Exchange  Commission  ("SEC") to
advise it of certain  matters  related to the Company's  restatement of earnings
for interim periods of fiscal 1999.  Subsequent  thereto,  the SEC requested the
voluntary  production of certain documents and the Company provided the SEC with
the requested materials.  On August 17, 2000, the SEC served a subpoena upon the
Company,  pursuant to a formal order of investigation,  requiring the production
of certain  documents.  The Company  has  provided  the SEC with the  subpoenaed
materials  and has  cooperated  fully  with the SEC staff.  The  inquiry is in a
preliminary stage and the Company cannot predict its potential outcome.

     In addition,  investigators associated with the U.S. Attorney's Office have
made inquires of certain former and current employees,  apparently in connection


                                       7
<PAGE>

with the same event.  The inquiries  are in a preliminary  stage and the Company
cannot predict their potential outcome.

Litigation

     In May 2000,  the Company  entered into an agreement for the  settlement of
the class action lawsuit naming the Company,  certain of its officers and former
officers and various third  parties as  defendants.  The complaint  alleged that
certain  defendants  issued  false  and  misleading  statements  concerning  the
Company's  publicly  reported  earnings in violation  of the federal  securities
laws. The complaint sought certification of a class of persons who purchased the
Company's  common stock  between July 1, 1997 and February 19, 1999,  inclusive,
and does not  specify  the  amount  of  damages  sought.  Under  the  settlement
agreement,  reflected  in a  memorandum  of  understanding  and  Stipulation  of
Settlement,  all claims  against  the  Company  and other  defendants  are to be
dismissed without  presumption or admission of any liability or wrongdoing.  The
principal terms of the settlement  agreement call for payment to the plaintiffs,
for the benefit of the class, of the sum of $3.4 million.  The settlement amount
will be paid in its  entirety  by the  Company's  insurance  carrier  and is not
expected to have any material  impact on the  financial  results of the Company.
The terms of the settlement are subject to approval by the Court.

     During  1996,  the Company was named as  defendant  in patent  infringement
litigation  commenced  by a  competitor  in the United  States and  France.  The
Company filed a countersuit  against the competitor for  infringement  of a U.S.
Patent  which has been  exclusively  licensed  to the  Company.  The Company has
obtained a formal opinion of intellectual  property counsel that its products do
not infringe on the competitor's U.S. patent. In October 2000, the French patent
court  dismissed the  litigation  venued in France.  The court  dismissed all of
Trophy's claims,  finding no patent infringement.  The court also ordered Trophy
to pay the sum of 65,000 French  Francs to the Company as partial  reimbursement
for legal  fees.  In  September  2000,  The  Company  filed  motions for Summary
Judgment  seeking the dismissal of the action in the United  States.  On June 6,
2001, the parties executed an agreement for the settlement and discontinuance of
these two  lawsuits.  Under  the  Settlement  Agreement,  the terms of which are
confidential,  all claims and  counterclaims  by the parties are to be dismissed
with  prejudice  without any admission of wrongdoing by any party and each party
releases the other from all claims.  On June 11, 2001 the United States District
Court for the Eastern  District of New York  discontinued the case without costs
to any party.

     The  Company may be a party to a variety of legal  actions (in  addition to
those    referred   to   above),    such   as    employment    and    employment
discrimination-related  suits,  employee  benefit  claims,  breach  of  contract
actions,  tort  claims,  shareholder  suits,  including  securities  fraud,  and
intellectual property related litigation. In addition,  because of the nature of
its business,  the Company is subject to a variety of legal actions  relating to
its business  operations.  Recent court decisions and  legislative  activity may
increase the Company's exposure for any of these types of claims. In some cases,
substantial  punitive damages may be sought. The Company currently has insurance
coverage for some of these potential  liabilities.  Other potential  liabilities
may not be covered by insurance, insurers may dispute coverage, or the amount of
insurance  may not be  sufficient  to cover the damages  awarded.  In  addition,
certain  types of  damages,  such as  punitive  damages,  may not be  covered by
insurance  and  insurance  coverage for all or certain  forms of  liability  may
become unavailable or prohibitively expensive in the future.

7. Income Taxes

     No  provision  for income taxes is recorded in these  financial  statements
since available tax carryovers exceed taxable income.


                                       8
<PAGE>

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

     This  Quarterly  Report on Form 10-Q  contains  forward-looking  statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the  Securities  Exchange Act of 1934,  as amended.  The words or
phrases  "believes,"  "may,"  "will  likely  result,"  "estimates,"  "projects,"
"anticipates,"  "expects"  or similar  expressions  and  variations  thereof are
intended to identify such forward-looking statements. Actual results, events and
circumstances  could differ  materially  from those set forth in such statements
due to various  factors.  Such factors  include risks  relating to the Company's
history of substantial operating losses, dependence on financing,  dependence on
products,  competition,  the changing economic and competitive conditions in the
medical and dental  digital  radiography  markets,  dependence on key personnel,
dependence on distributors, ability to manage growth, fluctuation in results and
seasonality,   governmental   approvals   and   investigations,    technological
developments,   protection  of  technology  utilized  by  the  Company,   patent
infringement  claims and other  litigation,  need for  additional  financing and
further risks and uncertainties, including those detailed in the Company's other
filings with the Securities and Exchange Commission.

General

     The Company designs,  develops and manufactures digital imaging systems for
the  dental  and  medical  markets.  In the  field  of  dentistry,  the  Company
manufactures and markets its' proprietary intra-oral digital radiography system.
The  Company has also  developed a bone  mineral  density  assessment  device to
assist in the diagnosis and treatment of  osteoporosis,  which was introduced in
December 1997. The Company has also commenced  development of a general  digital
radiography device for intended use in various applications.

Results of Operations

     Net  revenues  for the three  months  ended June 30,  2001  decreased  $0.4
million  (6%) to $5.8 million  from $6.2  million for the  comparable  period in
fiscal  2001.  The  decline  is due to lower  sales  of the CDR (R)  radiography
product,  offset in part,  by higher sales of CDR (R)  warranties.  In the first
quarter of fiscal 2002,  accuDEXA  sales were $0.2  million,  unchanged  for the
comparable  period in fiscal 2001. CDR product sales declined $0.9 million (17%)
to $4.3 million (74% of the  Company's net revenues) as compared to $5.2 million
(84% of the Company's net  revenues) for the  comparable  period in fiscal 2001.
The Company believes that this decline was due to the Company's consolidation of
its sales  channels  in North  America in May 2000.  At that time,  the  Company
ceased  selling the CDR (R) product  line  through a  combination  of its direct
sales  force and  non-exclusive-dealer  network and  entered  into an  exclusive
distribution  agreement  with  Patterson  Dental  Company  ("Patterson").   This
agreement grants  Patterson  exclusive rights to distribute the Company's dental
products in the United  States and Canada,  with the  Company  retaining  direct
relationships for hospitals, universities and governmental agencies. The Company
believes that the establishment and phasing-in of this new distribution  channel
resulted in lower CDR (R) sales,  as the Patterson  sales force became  familiar
with the CDR (R) product line. CDR (R) warranty  revenue  increased $0.5 million
(63%) to $1.3 million from $0.8  million in fiscal  2001.  The Company  believes
that this increase was due primarily to improvements made in the  implementation
of its  product  warranty  programs,  including  policy  enforcement  and timely
notification of warranty-coverage expirations.

     Total cost of sales for the three months ended June 30, 2001 decreased $0.8
million (26%) to $2.3 million (39% of net revenue) from $3.1 million (50% of net
revenue) for the comparable  period in fiscal 2001. The decrease in the relative
total  cost of  sales is due to  several  factors  including  lower  direct  and
indirect labor costs, warranty  expenditures,  material costs and overhead costs
as a result of increased manufacturing efficiency.

     Selling and  marketing  expenses  for the three months ended June 30, 2001,
decreased  $0.3 million  (19%) to $1.3  million  (22% of net revenue)  from $1.6
million  (26% of net  revenue) for the  comparable  period of fiscal 2001.  This
decrease is  principally  attributable  to a reduction in the  Company's  direct
sales force, and a reduction in promotional and trade show expenses  principally
as a result of the Patterson distribution agreement.


                                       9
<PAGE>

     General and  administrative  expenses  for the three  months ended June 30,
2001,  decreased  $0.2 million  (16%) to $1.0 million (17% of net revenue)  from
$1.2 million (19% of net revenue) for the comparable  period of fiscal 2001. The
decrease in general and administrative  expenses was primarily attributable to a
decrease in payroll and related costs.

     Research and development expenses for the three months ended June 30, 2001,
decreased  $0.1  million  (4%) to $0.5  million  (9% of net  revenue)  from $0.6
million  (9% of net  revenue)  for the  comparable  period of fiscal  2001.  The
decrease is primarily attributable to a decrease in operating expenses.

     Interest  expense for the three-month  period ended June 30, 2001 decreased
$0.2 million (42%) to $0.2 million from $0.4 million for the  comparable  period
of fiscal 2001. The decrease is attributable to interest rate declines,  reduced
debt resulting from principal repayments and decreasing amortization of deferred
finance charges.

     As a result of the above items, the Company's operating results improved to
a net  profit  of $0.6  million  for the three  months  ended  June 30,  2001 as
compared to a net loss of $0.5 million for the comparable period of fiscal 2001.

     In July 2001, the Financial Accounting Standards Board issued SFAS No. 141,
"Business  Combinations" and SFAS 142,  "Goodwill and Other Intangible  Assets".
The new standards require that all business combinations initiated after June 30
2001  must be  accounted  for  under  the  purchase  method.  In  addition,  all
intangible assets acquired that are obtained through contractual or legal right,
or are  capable  of being  separately  sold,  transferred,  licensed,  rented or
exchanged  shall be  recognized  as an asset apart from  goodwill.  Goodwill and
intangibles with indefinite lives will no longer be subject to amortization, but
will be subject to at least an annual  assessment  for  impairment by applying a
fair value based test.

     The Company will continue to amortize  under its current method until April
1, 2002. Thereafter, annual goodwill and quarterly goodwill amortization of $107
and $27 respectively,  will no longer be recognized.  By September 30, 2002, the
Company will perform a transitional  fair value based impairment test and if the
fair value is less than the  recorded  value at April 1, 2002,  the Company will
record an impairment loss in the June 30, 2002 quarter,  as a cumulative  effect
of a change in accounting principle.

Liquidity and Capital Resources

     At June 30, 2001, the Company had $1.6 million in cash and cash equivalents
and a working  capital  deficiency of $1.5 million,  compared to $2.2 million in
cash and cash equivalents and a $1.6 million working capital deficiency at March
31, 2001.

     During the three months ended June 30, 2001 cash provided by operations was
$0.9  million  compared  to $0.4  million  used in  operations  in fiscal  2001.
Increases in cash were primarily provided by improved operating performance. The
Company's capital expenditures increased $0.5 million in fiscal 2002 from $30 in
fiscal  2001.   Fiscal  2001   capital   expenditures   (principally   leasehold
improvements)  were  incurred in connection  with  Company's  consolidation  and
relocation into a portion of its space after fiscal 2001.

     DVI  Financial  Services,  Inc.  ("DVI")  has  provided  the  Company  with
financing evidenced by notes payable for $6.6 million which are secured by first
priority liens on substantially all of the Company's assets.  The Company issued
promissory notes (amended in June 2000)(the "DVI Notes") and security agreements
that  provide,  in part,  that the  Company  may not permit the  creation of any
additional  lien or  encumbrance  on the Company's  property or assets.  The DVI
Notes are due in varying  installments  through  fiscal  2006.  Interest is paid
monthly at the prime rate (8% at March 31, 2001) plus 2.5%. In  connection  with
the DVI Notes,  the Company granted DVI 650,000 warrants at an exercise price of
$2.19 per  share.  In  connection  with the  amended  DVI Notes,  the  warrants'
exercise  price was reduced to $.75,  the  expiration  date extended to December
2006 and  anti-dilution  protection  providing  for  exercise  of the warrant to
result in 5% ownership was added.  In connection  with the DVI loan, the Company
prepaid $750 of outstanding  principal  during the first quarter of fiscal 2002.
Effective August 28, 2000, DVI sold all its right, title and interest in, to and
under the  warrants  and DVI Notes,  as described  above,  to Greystone  Funding
Corporation  ("Greystone").  By letter dated October 11, 2000,  DVI directed the
Company  to make all  remaining  payments  due under the DVI Notes  directly  to
Greystone.

     In December 1999, the Company  entered into a Loan Agreement with Greystone
to provide  up to $7.5  million  of  subordinated  debt in the form of a secured
credit  facility.  Pursuant to the Loan  Agreement,  and to induce  Greystone to
enter into said  Agreement,  the Company  issued to Greystone and its designees,
warrants  to  purchase  3,000,000  shares of the  Company's  Common  Stock at an
exercise  price  of $.75 per  share.  The  Company  agreed  to  issue  Greystone
additional  warrants to purchase  2,000,000  shares at an exercise price of $.75
per share in  connection  with a cash  payment of $1 million by Greystone to the
Company  in  consideration  of a  sale  of  Photobit  stock  by the  Company  to
Greystone.  The sale of the Photobit  stock was made subject to a right of first
refusal  held by Photobit and it  founders.  By letter dated  February 17, 2000,
counsel for Photobit informed the Company that Photobit  considers the Company's
sale  of its  shares  to  Greystone  to be void on the  basis  of the  Company's
purported failure to properly comply with Photobit's right of first refusal.

     On March 17, 2000,  the Company and  Greystone  entered into an Amended and
Restated  Loan  Agreement  effective as of December 17, 1999 (the  "Amended loan


                                       10
<PAGE>

Agreement"),  which amended and restated the Loan  Agreement,  pursuant to which
Greystone agreed to provide up to $7.5 million of subordinated  debt in the form
of a secured  credit  facility.  The $1 million  cash payment to the Company was
converted  as of December 27, 1999 into an initial  advance of $1 million  under
the Amended Loan Agreement. Pursuant to the Amended Loan Agreement and to induce
Greystone to enter into said Agreement, the Company issued warrants to Greystone
and its designees, consisting of those warrants previously issued under the Loan
Agreement and Photobit stock sale arrangement,  to purchase 5,000,0000 shares of
the Company's Common Stock at an exercise price of $0.75 per share,  exercisable
at any time after  December 27,  1999.  Under the Amended  Loan  Agreement,  the
Company also issued to  Greystone or its  designees  warrants  (the  "Additional
Warrants") to purchase an additional  13,000,000  shares of common stock,  which
Additional  Warrants were to vest and be  exercisable at a rate of two shares of
Common Stock for each dollar advanced under the Amended Loan Agreement in excess
of the initial draw of $1 million.  Any  Additional  Warrants which did not vest
prior to  expiration or surrender of the line of credit were to be forfeited and
canceled.  In connection with the Greystone  secured credit facility,  effective
February 15, 2000, DVI consented to the Company's grant to Greystone of a second
priority lien  encumbering the Company's  assets,  under and subject in priority
and right of payment to all liens granted by the Company to DVI.

     No  additional  funds were  advanced  under the Amended  Loan  Agreement in
excess of the initial draw of $1 million.  On July 5, 2001, the Company remitted
payment to Greystone in the amount of $1.05  million,  repaying all  outstanding
advances under the Greystone  Amended Loan  Agreement,  together with all unpaid
accrued  interest  thereunder,  and  concurrently  terminated  said Amended Loan
Agreement. Approximately $423 representing the unamortized discount and deferred
financing  costs  relating  to the  Amended  Loan  Agreement  will be charged to
expense in July 2001.

     On July 12, 2001,  the Company and  Greystone  entered  into a  Termination
Agreement  effective  as of March 31,  2001,  acknowledging  the  repayment  and
termination of the Amended Loan Agreement and agreeing that all of the Company's
obligations  thereunder  have been fully  satisfied.  The Company and  Greystone
further  agreed,  among other matters,  that: (i) five million  warrants held by
Greystone and its assigns to purchase Common Stock of the Company remain in full
force and effect;  (ii) the Registration  Rights Agreement between Greystone and
the Company dated as of December 27, 1999 remains in full force and effect;  and
(iii) for so long as  Jeffrey  Slovin  holds  the  office  of  President  of the
Company,  the Company  shall  reimburse  Greystone in the amount of $17 thousand
monthly.

     In  July  2001,  a  Director  of  the  Company   made  a  commitment   (the
"Commitment") to make an equity  investment in the Company in the minimum amount
of $1 million,  subject to the approval and acceptance of the Company's Board of
Directors.

     Effective  May 1, 2000 the Company  entered into an exclusive  distribution
agreement with Patterson Dental Company  ("Patterson").  Under the terms of this
agreement  the  Company  discontinued  all direct  domestic  sales of its dental
products, with the exception of those to governmental agencies and universities.
As a result of the  agreement,  the Company  further  reduced  its sales  force.
Remaining   domestic   sales    representatives    have   become    manufacturer
representatives  charged with support of the Patterson sales effort. The Company
terminated  all existing  dealer  agreements  including its agreement with Henry
Schein,   Inc.  In  fiscal  2001,  the  Company  entered  into  several  foreign
distributorship agreements.

     The Company  believes that its cost  reductions,  refinancing and new sales
arrangement should permit the Company to generate  sufficient working capital to
meet its obligations as they mature. The ability of the Company to meet its cash
requirements is dependent,  in part, on the Company's ability to attain adequate
sales and profit levels and to satisfy its existing warranty obligations without
incurring  expenses  substantially  in excess of related warranty revenue and to
collect its accounts  receivable  on a timely  basis.  Management  believes that
existing capital  resources are adequate to meet its current cash  requirements.
Additionally,  Management is currently  evaluating  the Commitment and exploring
supplemental  and  alternative  financing  sources.  However,  there  can  be no
assurance  that such  financing  will be  available on terms  acceptable  to the
Company or that the Company's cash needs will not be greater than anticipated.


                                       11
<PAGE>

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

     The DVI term  notes  bear an annual  interest  rate based on the prime rate
plus 2.5%,  provided however,  that if any payments to DVI are past due for more
than 60 days,  interest  will  thereafter  accrue at the prime  rate plus  5.5%.
Because the interest rate is variable,  the Company's cash flow may be adversely
affected by increases in interest rates.  Management does not, however,  believe
that any risk inherent in the variable-rate nature of the loan is likely to have
a material effect on the Company's interest expense or available cash.

PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings

     The  Company  and/or  certain  of its  officers  and former  officers,  are
involved in the proceedings described below:

     I. The Company was a named  defendant in two lawsuits  instituted by Trophy
Radiologie, S.A. ('Trophy S.A.'), a subsidiary of Trex Medical Corporation.  One
lawsuit was instituted in France and the other in the United States. On or about
June  6,  2001,  the  parties  executed  an  agreement  for the  settlement  and
discontinuance of these two lawsuits.

     The French  lawsuit was filed in November  1995,  in the tribunal de Grande
Instance de Bobigny,  the French patent court,  and originally  alleged that the
Company's CDR(R) system infringes French Patent No.  2,547,495,  European Patent
No. 129,451 and French Certificate of Addition No. 2,578,737. These patents, all
of which are related, are directed to a CCD-based intra-oral sensor.  Subsequent
to filing its lawsuit,  Trophy S.A. withdrew its allegation of infringement with
respect to the  Certificate  of  Addition.  Trophy S.A.  was seeking a permanent
injunction and  unspecified  damages,  including  damages for its purported lost
profits.  In October 2000, the French patent court  dismissed this lawsuit.  The
court  dismissed  all of  Trophy's  claims,  finding no  infringement  of either
patent.  The court also ordered Trophy to pay the sum of 65,000 French Francs to
the Company as partial reimbursement for legal fees.

     The  lawsuit in the United  States was filed in March 1996 by Trophy  S.A.,
Trophy  Radiology,  Inc., a United  States  subsidiary  of Trophy S.A.  ('Trophy
Inc.') and the named inventor on the patent in suit,  Francis  Mouyen,  a French
citizen.  The suit was  brought  in the  United  States  District  Court for the
Eastern  District  of New York,  and  alleged  that the  Company's  CDR(R)system
infringes  United  States  Patent No.  4,593,400  (the '400  patent'),  which is
related to the patents in the French  lawsuit.  Trophy  S.A.,  Trophy  Inc.  and
Mouyen were seeking a permanent  injunction and unspecified  damages,  including
damages for purported lost profits, enhanced damages for the Company's purported
willful  infringement and an award of attorney fees. In this action, the Company
counter-sued  Trophy S.A.  and Trophy Inc.  for  infringement  of United  States
Patent No.  4,160,997,  an expired patent which was exclusively  licensed to the
Company by its inventor,  Dr. Robert  Schwartz,  and for false  advertising  and
unfair competition.

     On September 12, 1997,  after having been given  permission to do so by the
Court, the Company served two motions for summary judgment seeking  dismissal of
the action pending in the United States District Court for the Eastern  District
of New York,  on the  grounds  of  non-infringement  and patent  invalidity.  On
February 22, 2000,  oral  argument on these  motions was heard by the Court.  To
date, the Court has not ruled on these motions.

     On June 6, 2001,  the parties  executed an agreement for the settlement and
discontinuance of these two lawsuits. Under the Settlement Agreement, all claims
and  counterclaims by the parties are to be dismissed with prejudice without any
admission of wrongdoing by any party and each party  releases the other from all
claims.  The terms of such  Agreement  are  confidential.  On June 11,  2001 the
United States District Court for the Eastern  District of New York  discontinued
the case without costs to any party.

     II. In late 1998 through early 1999, nine shareholder complaints purporting
to be class action  lawsuits were filed in the United States  District Court for
the Eastern  District of New York.  Plaintiffs  filed a Consolidated and Amended
Complaint on or about May 27, 1999 and, on or about  November 24, 1999,  filed a
Second Amended and Consolidated Complaint (the "Complaint"). The Complaint names
as  defendants  the Company,  David B. Schick,  Thomas E.  Rutenberg,  and David
Spector   (collectively,    the   "Individual    Defendants"),    as   well   as


                                       12
<PAGE>

PricewaterhouseCoopers LLP.

     The Complaint alleged, inter alia, that certain defendants issued false and
misleading  statements  concerning the Company's  publicly  reported earnings in
violation of the federal securities laws. The Complaint sought  certification of
a class of persons who purchased the Company's Common Stock between July 1, 1997
and  February  19,  1999,  inclusive,  and did not specify the amount of damages
sought.

     On May 23, 2000,  the Company  entered into an agreement in principle  with
the plaintiffs for the settlement of the class action lawsuit, as reflected in a
Memorandum of  Understanding.  On June 5, 2001, a Stipulation  of Settlement was
executed,  under  which  all  claims  against  the  Company  and the  Individual
Defendants are to be dismissed without presumption or admission of any liability
or wrongdoing.  The principal terms of the settlement agreement call for payment
to the Plaintiffs, for the benefit of the class, of the sum of $3.4 million. The
settlement  amount  will be  paid in its  entirety  by the  Company's  insurance
carrier and is not expected to have any material impact on the financial results
of the Company. The settlement is subject to approval by the Court.

     III. In August 1999, the Company,  through its outside  counsel,  contacted
the Division of Enforcement of the Securities and Exchange Commission ("SEC") to
advise it of certain  matters  related to the Company's  restatement of earnings
for interim periods of fiscal 1999.  Subsequent  thereto,  the SEC requested the
voluntary  production of certain documents and the Company provided the SEC with
the requested materials.  On August 17, 2000, the SEC served a subpoena upon the
Company,  pursuant to a formal order of investigation,  requiring the production
of certain  documents.  The Company  has  provided  the SEC with the  subpoenaed
materials  and has  cooperated  fully  with the SEC staff.  The  inquiry is in a
preliminary stage and the Company cannot predict its potential outcome.

     The Company could become a party to a variety of legal actions (in addition
to   those   referred   to   above),   such   as   employment   and   employment
discrimination-related  suits,  employee  benefit  claims,  breach  of  contract
actions,  tort  claims,  shareholder  suits,  including  securities  fraud,  and
intellectual property related litigation. In addition,  because of the nature of
its business,  the Company is subject to a variety of legal actions  relating to
its business  operations.  Recent court decisions and  legislative  activity may
increase the Company's exposure for any of these types of claims. In some cases,
substantial  punitive  damages  could  be  sought.  The  Company  currently  has
insurance  coverage for some of these  potential  liabilities.  Other  potential
liabilities may not be covered by insurance,  insurers may dispute coverage,  or
the amount of insurance may not be sufficient to cover the damages  awarded.  In
addition, certain types of damages, such as punitive damages, may not be covered
by insurance  and  insurance  coverage for all or certain forms of liability may
become unavailable or prohibitively expensive in the future.

Item 2. Changes in Securities and Use of Proceeds

          Not Applicable.

Item 3. Defaults Upon Senior Securities

          Not Applicable.

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

          Not Applicable.

Item 5. Other Information

          Not Applicable.

Item 6. Exhibits and Reports on Form 8-K

     (a)  Exhibits

          None

     (b)  Reports on Form 8-K

          None


                                       13
<PAGE>

                            SCHICK TECHNOLOGIES, INC.

                                    SIGNATURE


     Pursuant to the  requirement  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.


                                            SCHICK TECHNOLOGIES, INC.

Date: August 9, 2001                        By: /S/ David Schick
                                            David B. Schick
                                            Chief Executive Officer

                                            By: /S/ Ronald Rosner
                                            Ronald Rosner
                                            Director of Finance and
                                            Administration
                                            (Principal Financial Officer)


                                       14