UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

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

                  For the quarterly period ended March 31, 1997

[ ]      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: 0-22089


                          BRUNSWICK TECHNOLOGIES, INC.
                          ----------------------------


             Maine                                               01-0402052
-------------------------------                              -------------------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)


43 Bibber Parkway, Brunswick, ME                                   04011
---------------------------------------                          ----------
(Address of principal executive offices)                         (Zip Code)


                                  207-729-7792
               --------------------------------------------------
              (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. [x] Yes [ ] No

     The  registrant  had 4,550,186  shares of Common Stock,  $0.0001 par value,
outstanding as of May 14, 1997.






                          BRUNSWICK TECHNOLOGIES, INC.



                                      INDEX

<TABLE>
<CAPTION>

                                                                                      Page No.
                                                                                      --------


<S>                                                                                  <C>
Part I.    Financial information.

           Item 1.  Financial Statements.

                  Consolidated balance sheets as of December 31, 1996
                       and March 31, 1997.                                              3 - 4

                  Consolidated statements of income for the three months
                       ended March 31, 1996 and 1997.                                       5

                  Consolidated statements of cash flows for the
                       three months ended March 31, 1996 and 1997.                          6

                  Notes to consolidated financial statements.                           7 - 8

                  Report of Independent Accountants.                                        9

           Item 2.  Management's Discussion and Analysis of Financial Condition
                and Results of Operations.                                                 10

Part II.   Other Information.

           Item 2.  Changes in Securities.                                                 11

           Item 4.  Submission of Matters to a Vote of Security Holders.                   11

           Item 6.  Exhibits and Reports on Form 8-K.                                      11


</TABLE>


                                      -2-





                                     PART 1
                              FINANCIAL INFORMATION

Item 1.  Financial Statements.


                          BRUNSWICK TECHNOLOGIES, INC.
                           CONSOLIDATED BALANCE SHEETS
                                 (in thousands)

<TABLE>
<CAPTION>


                                                                                      December 31,              March 31,
                                        ASSETS                                           1996                     1997
                                        ------                                           ----                     ----
                                                                                                               (unaudited)
<S>                                                                                <C>                     <C>
Current assets:
     Cash and cash equivalents                                                      $          355          $       6,581
     Accounts receivable, net of allowance for doubtful accounts
          of $38 in 1996 and $42 in 1997                                                     2,619                  3,045
     Inventories                                                                             3,263                  3,479
     Refundable income taxes                                                                    21                      -
     Deferred income taxes                                                                     167                    167
     Other current assets                                                                      300                    198
                                                                                    --------------          -------------
          Total current assets                                                               6,725                 13,470
                                                                                    --------------          -------------

Property, plant and equipment:
     Land and building                                                                         800                    800
     Furniture and fixtures                                                                    356                    388
     Leasehold improvements                                                                     74                     77
     Machinery and equipment                                                                 5,115                  6,226
     Vehicles                                                                                   68                     76
     Machinery under construction                                                            1,041                      -
                                                                                    --------------          -------------
                                                                                             7,454                  7,567

     Less accumulated depreciation                                                          (1,453)                (1,590)
                                                                                    ---------------         --------------
          Net property, plant and equipment                                                  6,001                  5,977
                                                                                    --------------          -------------

Deferred charges                                                                               513                      -
Other assets, net                                                                               86                    273
Goodwill, net                                                                                5,309                  5,235
                                                                                    --------------          -------------

                                                                                    $       18,634          $      24,955
                                                                                    ==============          =============
</TABLE>









                     The accompanying notes are an integral
                        part of the financial statements

                                      -3-





                          BRUNSWICK TECHNOLOGIES, INC.
                           CONSOLIDATED BALANCE SHEETS
               (in thousands, except share and per share amounts)

<TABLE>
<CAPTION>


                                                                                      December 31,              March 31,
              LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                              1996                    1997
                                                                                         -----                    ----
                                                                                                              (unaudited)
<S>                                                                                 <C>                     <C>
Current Liabilities:                                                                                           
     Bank Overdraft                                                                 $          301          $         226
     Note payable to bank                                                                    1,180                      -
     Current installments of long-term debt                                                    298                    100
     Due to stockholder                                                                      1,045                    198
     Accounts payable - trade                                                                1,785                  1,270
     Accrued expenses                                                                          705                    518
     Income taxes payable                                                                        -                    131
                                                                                    --------------          -------------
         Total current liabilities                                                           5,314                  2,443
                                                                                    --------------          -------------

Long-term debt, excluding current installments                                               8,853                  3,968
Deferred income taxes                                                                          122                    121
Commitments
Convertible preferred stock (liquidation preference of $6,641 in 1996)                       6,589                      -

Stockholder's equity (deficit):
     Preferred stock $10 par value, 1,000,00 shares authorized, none outstanding                 -                      -
     Common stock, $0.0001 par value, 20,000,000 shares authorized,
        301,624 outstanding in 1996 and 4,550,186 outstanding in 1997                            -                      -
     Additional paid in capital                                                                464                 20,900
     Treasury stock, 3,300 shares at cost                                                       (5)                    (5)
     Accumulated deficit                                                                    (2,703)                (2,472)
                                                                                    ---------------         --------------
         Total stockholders' equity (deficit)                                               (2,244)                18,423
                                                                                    ---------------         -------------

                                                                                    $       18,634          $      24,955
                                                                                    ==============          =============


</TABLE>













                     The accompanying notes are an integral
                        part of the financial statements



                                      -4-



                          BRUNSWICK TECHNOLOGIES, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                    (in thousands, except per share amounts)


<TABLE>
<CAPTION>

                                                                                          Three months ended
                                                                                                March 31,
                                                                                       --------------------------
                                                                                         1996              1997
                                                                                       ---------        ---------
                                                                                              (unaudited)

<S>                                                                               <C>               <C>   
Net Sales                                                                                 $4,744            $7,332

Cost of goods sold (raw material purchased from a stockholder amounted to
   $2,942 and $1,991 in 1996 and 1997, respectively)                                       3,631             5,448
                                                                                  --------------      ------------

              Gross profit                                                                 1,113             1,884

Selling, general and administrative expenses                                                 635             1,232
Research and development expenses                                                            143               107
Moving costs                                                                                 143                 -
                                                                                  --------------      ------------

              Operating income                                                               192               545
                                                                                  --------------      ------------

Other income (expense):
       Interest expense, net                                                                 (26)             (162)
       Miscellaneous, net                                                                     44                87
                                                                                  --------------      ------------

                                                                                              18               (75)
                                                                                  --------------      -------------

              Income before income tax                                                       210               470

Income tax expense                                                                           (75)             (183)
                                                                                  ---------------     -------------

              Net income                                                                     135               287

Preferred stock dividend                                                                    (113)              (48)
Accretion of preferred stock redemption value                                                (17)               (8)
                                                                                  ---------------     -------------

              Net income attributable to common stock                             $            5      $        231
                                                                                  ==============      ============

Earnings per common share (pro forma in 1996)                                     $         0.04      $       0.07
                                                                                  --------------      ------------

Weighted average common shares outstanding (pro forma in 1996)                             3,460             4,352
                                                                                  ==============      ============



</TABLE>



                     The accompanying notes are an integral
                        part of the financial statements


                                      -5-




                          BRUNSWICK TECHNOLOGIES, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (in thousands)

<TABLE>
<CAPTION>


                                                                                          Three months ended
                                                                                                March 31,
                                                                                     ---------------------------
                                                                                         1996             1997
                                                                                     ------------    -----------
                                                                                              (unaudited)

<S>                                                                              <C>               <C>
Cash flows from operating activities:
     Net income                                                                   $        135      $        287
     Adjustments to reconcile net income to net cash (used in) provided by
     operating activities:

           Depreciation and amortization                                                   101               211
           Deferred taxes                                                                    -                (1)
           Changes in assets and liabilities:
              (Increase) decrease in accounts receivable                                   502              (426)
              Increase in inventories                                                     (755)             (216)
              Decrease in refundable income taxes                                            -                21
              Decrease (increase) in other current assets and other assets                  16               (85)
              (Decrease) in due to stockholder                                               -              (847)
              (Decrease) increase in other accounts payable and accrued expenses           535              (702)
                                                                                  
              Increase in income taxes payable                                               -               131
                                                                                  ------------      ------------

                      Net cash (used in) provided by operating activities                  534            (1,627)
                                                                                  ------------      -------------

Cash flows from investing activities:

     Purchases of property, plant and equipment                                           (212)             (113)
                                                                                  -------------     -------------

                      Net cash used in investing activities                               (212)             (113)
                                                                                  -------------     -------------

Cash flows from financing activities:

     Bank overdraft                                                                        167               (75)
     Net repayments under line of credit                                                     -            (1,180)
     Issuance of common stock, net of offering costs                                         -            14,304
     Repayment of long-term debt                                                           (20)           (5,083)
                                                                                  -------------     -------------

                      Net cash provided by financing activities                            147             7,966
                                                                                  ------------      ------------

                      Net increase in cash                                                 469             6,226

Cash at beginning of period                                                                107               355
                                                                                  ------------      ------------

Cash at end of period                                                             $        576      $      6,581
                                                                                  ============      ============

Non-cash items:
       In February 1997,  convertible preferred stock and accrued dividends were
converted into common stock (see Note 2 of Notes to Financial Statements).

</TABLE>

                     The accompanying notes are an integral
                        part of the financial statements

                                      -6-





                          BRUNSWICK TECHNOLOGIES, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS



1.       CONSOLIDATED FINANCIAL STATEMENTS:

                  The  consolidated  financial  statements  included herein have
         been prepared by the Company,  without audit, pursuant to the rules and
         regulations  of  the  Securities  and  Exchange   Commission.   Certain
         information  and  footnote  disclosure  normally  included in financial
         statements  prepared in accordance with generally  accepted  accounting
         principles  have been  condensed or omitted  pursuant to such rules and
         regulations,  although the Company  believes that the  disclosures  are
         adequate  to make the  information  presented  not  misleading.  In the
         opinion of  management,  the  amounts  shown  reflect  all  adjustments
         necessary  to present  fairly the  financial  position  and  results of
         operations for the periods  presented.  All such  adjustments  are of a
         normal recurring nature.  The year-end  consolidated  balance sheet was
         derived from  audited  financial  statements,  but does not include all
         disclosures required by generally accepted accounting principles. It is
         suggested that the financial statements be read in conjunction with the
         financial statements and notes thereto included in the Company's latest
         annual report.

                  The consolidated  financial statements include the accounts of
         Brunswick  Technologies,  Inc. (BTI) and Advanced Textiles, Inc. (ATI),
         its wholly owned  subsidiary.  The  accounts of ATI are  included  from
         October 30, 1996,  the date of  acquisition.  Therefore,  the March 31,
         1996 financial  statements included herein exclude the accounts of ATI.
         All intercompany transactions have been eliminated.

                  Earnings per share has been presented on a pro forma basis for
         1996 after  giving  effect to the  conversion  of the  preferred  stock
         outstanding prior to their conversion into common stock on February 10,
         1997, as well as to the 33 to 1 stock split of common stock on February
         5, 1997, in connection with the Company's  initial public offering (see
         Note  2  of  Notes  to  Financial  Statements).   The  following  table
         represents information necessary to calculate earnings per share:

                                                            March 31,
                                                      1996           1997
                                                   ----------     ---------
                                                     (in thousands, except
                                                       per share amounts)

Net income                                             $    135    $    287
                                                       ========    ========

Earnings per common share (pro forma in 1996)          $  0.04    $    0.07
                                                       =======    =========

Common shares outstanding:
     Weighted average common shares                         281       3,700
     Common share equivalents                               630         652
     Conversion of preferred stock                        2,337           -
     Preferred stock dividend                               211           -
     Directors' stock grants                                  1           -
                                                       --------  ----------

     Weighted average shares outstanding 
      (pro forma in 1996)                                 3,460       4,352
                                                       ========  ==========



                                      -7-


                          BRUNSWICK TECHNOLOGIES, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


2.       INITIAL PUBLIC OFFERING

                  On February 10, 1997, the Company completed its initial public
         offering  of common  stock.  The sale to the public  totaled  2,675,000
         shares, with 1,700,000 new shares being sold by the Company and 975,000
         shares  being sold from the  holdings of an existing  shareholder.  The
         offering price was $9.50 per share with proceeds to the Company,  after
         offering expenses,  of approximately $13.7 million.  From the proceeds,
         the  Company  was  obligated  to  pay  $3,648,250  of  the  convertible
         subordinated  note plus accrued  interest  thereon.  With the remaining
         proceeds,  the  Company  also paid off the  balance of its bank debt of
         approximately  $2.9 million.  Deferred  charges of $512,679 at December
         31,  1996,  and  other  transactional  expenses  (together  aggregating
         approximately  $1.3 million) were offset against  stockholders'  equity
         upon completion of the offering.

                  Pursuant to the terms of the preferred  stock, the outstanding
         shares of preferred stock were automatically  converted to common stock
         on the  consummation  of the Company's  initial public  offering.  As a
         result,  70,824 shares of preferred  stock were  converted to 2,337,192
         shares of common stock.  In addition,  on August 14, 1996, the Board of
         Directors approved the issuance of common stock in lieu of cash payment
         of the cumulative  preferred  dividend.  This resulted in an additional
         211,088  shares of common  stock being  issued to holders of  preferred
         stock as of the offering. In addition,  the Board approved the grant of
         stock to new Directors totaling 1,000 shares,  which were issued at the
         closing of the offering.


3.       INVENTORIES:

         Inventories consist of the following components:

                                           December 31,           March 31,
                                              1996                  1997
                                              ----                  ----
                                                                 (unaudited)
                                                     (in thousands)

Raw materials                            $           576      $          712
Work-in-process                                      653                 635
Finished goods                                     2,034               2,132
                                         ---------------      --------------

                                         $         3,263      $        3,479
                                         ===============      ==============


4.       NEW ACCOUNTING PRONOUNCEMENTS:

                  During February 1997, the Financial Accounting Standards Board
         issued Statement of Financial  Accounting  Standards No. 128, "Earnings
         per  Share"  (SFAS No.  128),  which  will  require a change in how the
         Company calculates  earnings per share. This statement is effective for
         financial statements issued for periods ending after December 15, 1997,
         with earlier  application  not permitted.  The statement  requires dual
         presentation   of  basic  and  diluted   earnings   per  share  on  the
         consolidated   statements  of  income.   Had  the  earnings  per  share
         calculation  been applied on a basis  consistent with the provisions of
         SFAS No. 128 and Securities and Exchange Commission regulations,  basic
         earnings  per share  would  have been $0.05 and $0.08 per share for the
         three  months  ended  March 31,  1996 and 1997,  respectively.  Diluted
         earnings per share would have been  equivalent to the amounts  reported
         in the statements of income.



                                      -8-



                        REPORT OF INDEPENDENT ACCOUNTANTS


To the Board of Directors and Shareholders of
Brunswick Technologies, Inc.

We have  reviewed  the  accompanying  consolidated  balance  sheet of  Brunswick
Technologies, Inc. as of March 31, 1997, and the related consolidated statements
of income  and cash  flows for the three  months  then  ended.  These  financial
statements are the responsibility of the Company's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with  generally  accepted  auditing  standards,  the  objective  of which is the
expression of an opinion  regarding the financial  statements  taken as a whole.
Accordingly,  we do not  express  such an  opinion.  We  previously  audited and
expressed  an  unqualified  opinion  on  the  Company's  consolidated  financial
statements for the year ended December 31, 1996 (not presented  herein).  In our
opinion,  the  information  set forth in the  accompanying  balance  sheet as of
December 31, 1996, is fairly stated in all  materials  respects,  in relation to
the statement of financial position from which it has been derived.

Based on our review, we are not aware of any material  modifications that should
be made to the accompanying  consolidated financial statements for them to be in
conformity with generally accepted accounting principles.


/s/  Coopers & Lybrand L.L.P.

Portland, Maine
April 28, 1997


                                      -9-



ITEM 2:    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FIRST QUARTER 1997 RESULTS.

GENERAL

         As a result of the October  30,  1996,  purchase of Advanced  Textiles,
Inc.  (ATI)  from  Burlington  Industries  (see  Note 1 of  Notes  to  Financial
Statements),  the  operations  of ATI for the 1997  period are  included  in the
Consolidated Statements of Income and Cash Flow for the three months ended March
31,  1997,  and ATI's net assets are included in the March 31, 1997 and December
31, 1996 Consolidated Balance Sheets.

RESULTS OF OPERATIONS

         Net sales  increased  by  $2,563,000  or 54% in 1997.  Pounds sold were
4,810,952 in the first  quarter of 1997 versus  3,360,067  in the  corresponding
period in 1996.

         Gross  margin was 25.7% of net sales in the first three  months of 1997
versus 23.5% the corresponding  period in 1996. The increase is due primarily to
the addition of the operations of ATI whose  products,  in general,  have higher
gross margins.

         Operating  expenses  increased  $418,000 in the first  quarter of 1997,
primarily  as a result of  $568,000 of  operating  expense  attributable  to ATI
(including  goodwill  amortization  of $66,000).  Offsetting  this  increase was
$143,000  of moving  expenses  incurred  in 1996 but not in 1997.  Non-operating
expense  amounted  to $75,000  in the first  quarter  of 1997.  This  amount was
composed of $162,000 in interest expense ($136,000 in amounts owed to Burlington
Industries,  Inc.  from the  purchase  of ATI),  reduced by $55,000 in  interest
income and $22,000 from reimbursement  under the Company's federal grant. In the
first quarter of 1996,  non-operating  income  amounted to $19,000,  which was a
combination  of $45,000  in  reimbursement  under the  federal  grant  offset by
$26,000 in the interest expense.

LIQUIDITY AND CAPITAL RESOURCES

         The Company's cash flow activities for the quarter are reflected in the
consolidated  Statements  of Cash Flows.  The  Company's  liquidity  and capital
resources  were favorably  impacted by its initial  public  offering in February
1997,  when it sold  1,700,000  newly  issued  shares  at $9.50 per share to the
public.  After  selling  commissions  and other  expenses,  net  proceeds to the
Company  amounted to $13.7 million.  With a portion of this amount,  the Company
paid  $3,648,250 of the principal  amount due Burlington  Industries,  Inc. plus
interest of $94,954, as well as bank debt amounting to $2,892,960. The Company's
funds in excess of that required for normal operating activities are invested in
short-term, high-grade governmental and corporate obligations.



                                      -10-


                                     PART II
                                OTHER INFORMATION

ITEM 2.  CHANGES IN SECURITIES.

         Immediately  prior to its initial public offering in February 1997, all
shares of the Company's  common stock underwent a 33 to 1 stock split,  and upon
the  consummation of the offering,  each share of the Company's  preferred stock
(of all series) converted into 33 shares of common stock.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

         The Company held a special meeting of shareholders on January 23, 1997.
At that meeting,  the shareholders voted to amend the 1991 Stock Option Plan and
1994 Stock  Option Plan to: (i) allow  grants to be made to  consultants  to the
Company,  in addition to  directors  and  employees;  (ii)  decrease the maximum
aggregate  number of shares  which may be issued  under each of the  plans;  and
(iii)  allow  recipients  to  keep  vested  options  in  the  event  his  or her
employment,  consultant  relationship  or  directorship  is terminated,  whether
voluntarily  or  involuntarily.  The  shareholders  also voted to adopt the 1997
Equity  Incentive  Plan,  whereby  a  committee  of the  Board of  Directors  is
authorized to grant incentive stock options,  non-statutory stock options, stock
appreciation rights,  restricted stock or similar securities defined thereunder,
all in its  discretion,  to key  personnel,  consultants  and  directors  of the
Company  or one of its  affiliates.  Further  details  on this  meeting  and the
actions  taken  may  be  found  in the  Prospectus  contained  in the  Company's
Registration Statement on Form S-1 (File No. 333-10721), as amended.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a)   Exhibit 27.  Financial data schedule.

(b)   No reports on Form 8-K were filed during the quarter ended March 31, 1997.


                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
and  Exchange  Act of 1934,  the  Registrant  has duly  caused this Report to be
signed on its behalf by the undersigned thereunto duly authorized.


                                               Brunswick Technologies, Inc.


                                               by: /s/ John P. O'Sullivan
                                                   Chief Financial Officer
                                                   and Treasurer

Date:  May 14, 1997



                                      -11-