8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 1, 2005

TECHNOLOGY RESEARCH CORPORATION

(Exact name of registrant as specified in its charter)

Florida	0-13763	59-2095002
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

5250-140th Avenue North, Clearwater, Florida	33760
(Address of principal executive officers)	(Zip Code)

Registrant's telephone number, including area code: (727) 535-0572

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On August 1, 2005, Technology Research Corporation issued a press release announcing its financial results for its first quarter ended June 30, 2005.  A copy of the press release is furnished as Exhibit 99.1 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(c) The following exhibit is filed as part of this report:

Exhibit No. 99.1 Description Press release issued August 1, 2005

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SIGNATURES

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

	TECHNOLOGY RESEARCH CORPORATION
Date:  August 1, 2005	By: /s/ Scott J. Loucks
	Name: Scott J. Loucks
	Title: VP of Finance CFO

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EX-99.1

        Exhibit 99.1

      TECHNOLOGY RESEARCH CORPORATION

    ANNOUNCES RESULTS FOR FIRST FISCAL QUARTER

CLEARWATER, FLORIDA, August 1, 2005 -- Technology Research Corporation (“TRC”), (NASDAQ-TRCI),

today announced revenues and earnings for its first fiscal quarter ended June 30, 2005. Revenues were $10,576,750,

compared to $7,130,944 for the same quarter last year, an increase of 48%. Net income for the current quarter was

$292,835, compared to $673,670 for the same quarter last year, a decrease of 57%. Basic and diluted earnings for

the current quarter were $.05 per share, compared to basic earnings of $.12 per share and diluted earnings of $.11

per share for the same quarter last year.

Jerry Kendall, President and CEO commented, “We had a good start to our 2006 fiscal year with 7.9% growth in our

core commercial business and additional revenues of $3.85 million which were generated by the seasonal room air

conditioner (“RAC”) market, a market which was not present a year ago. While we accomplished excellent revenue

growth, the additional revenues did not generate a higher level of net income. Product mix plus higher than anticipated

costs were the major factors that impacted the bottom line.”  Kendall added, “In looking forward to the remaining

three quarters of fiscal 2006, the Company will continue to pursue revenue growth while making the necessary changes

to improve net income.”

Commercial revenues for the quarter ended June 30, 2005 increased $4,153,440, compared to the same quarter in the

prior year, and military revenues decreased $655,003. Royalty income decreased $52,631. The increase in commercial

revenues was primarily attributed to RAC product shipments, and to a lesser extent product expansion into retail stores.

The Company expects continued growth in its commercial revenues in fiscal 2006 with seasonal low revenues expected

in its second quarter ending September 30, 2005. The decrease in military revenues resulted from a delay in certain

follow-on releases of existing contracts for control devices related to the Tactical Quiet Generator (“TQG”) programs.

In addition, certain direct military orders could not be placed until June, when the Department of Defense released

supplemental spending for its fiscal 2005 year. The Company expects military sales in fiscal 2006 to remain comparable

to fiscal 2005. Royalties decreased as the result of a minimum royalty payment during the prior year’s quarter by Applica,

Inc. in the amount of $50,000 which did not occur in the current quarter. The Company does not expect to record any

significant royalties in fiscal 2006.

The first quarter dividend of $.015 per share was paid on July 22, 2005 to shareholders of record on June 30, 2005.  The

Company’s annual dividend is $.06 per share.

TRC is an internationally recognized leader in electrical safety products that prevent electrocution and electrical fires and

protect against serious injury from electrical shock.  Based on its core technology in ground fault sensing, products are

designed to meet the needs of the consumer, commercial and industrial markets worldwide.  The Company also supplies

power monitors and control equipment to the United States Military and its prime contractors.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:  Some of the statements in

this report constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform

Act of 1995 and the Securities Exchange Act of 1934. These statements are related to future events, other future

financial performance or business strategies, and may be identified by terminology such as "may," "will," "should,"

"expects," "scheduled," "plans," "intends," "anticipates," "believes," "estimates," "potential," or "continue," or

the negative of such terms, or other comparable terminology. These statements are only predictions. Actual events

as well as results may differ materially. In evaluating these statements, you should specifically consider the factors

described throughout this report. We cannot be assured that future results, levels of activity, performance or goals

will be achieved.

                  TECHNOLOGY RESEARCH CORPORATION AND SUBSIDIARY

                    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                     (unaudited)

          & #160;  Three-months ended       

          & #160; June 30 June 30 March 31

          & #160;2005 20042005

Operating revenues:

 Commercial                                                                                           $ 7,927,421 3,773,981 12,191,321

 Military          2,649,329 3,304,332   3,255,177

 Royalties                                                                                                              -              52,631                 81,583

          & #160; 10,576,7507,130,944 15,528,081

Operating expenses:

 Cost of sales            8,283,5524,509,416 12,530,375

 Selling, general, and administrative       1,375,0761,156,798   1,484,891

 Research, development and engineering      487,404  466,471     501,059

          & #160; 10,146,032 6,132,685 14,516,325

  Operating income       430,718   998,259  1,011,756

Interest and sundry income             (40,271)      7,220     (37,188)

 Income before income taxes         390,447  1,005,479    974,568

Income taxes                97,612    331,809     116,687

 Net income          $    292,835    673,670     857,881

           
60;=======        =======         =======

Net income per common share:

 Basic                                                                                                   $           .05                   .12                     .15

 Diluted                                                                                                 $           .05                   .11                     .15

Weighted average number of common shares outstanding:

 Basic                                                                                                       5,774,375          5,745,850           5,762,563

 Diluted                                                                                                     5,841,212          5,977,941           5,891,856

Dividends paid                                                                                               $          .015                  .015                   .015

    TECHNOLOGY RESEARCH CORPORATION AND SUBSIDIARY

     CONDENSED CONSOLIDATED BALANCE SHEETS

        (unaudited)

                                                                                                                                         0;           *

          & #160; June 30  March 31

  ASSETS         2005  2005

Current assets:

 Cash and cash equivalents                                                                $      284,553     815,411

 Short-term investments                                                                            489,634      487,072

 Accounts receivable, net                                                                      10,196,725 13,114,548

 Inventories                                                                                          11,978,912 11,460,302

 Prepaid expenses and other current assets                                                398,492      514,922

 Deferred income taxes                                                                            488,413      488,413

  Total current assets                                                                   23,836,729 26,880,668

Property, plant and equipment                                                                        13,828,650 13,560,106

 Less accumulated depreciation                                                              8,405,118   8,089,950

  Net property, plant and equipment                                                5,423,532   5,470,156

Other assets                                                                                                       71,738       96,004

                                                                                                                 $ 29,331,999 32,446,828

                                                                                                                    =======         =======

 LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

 Short-term debt                                                                                $  2,660,200   3,000,000

 Trade accounts payable                                                                        5,341,900   7,970,920

 Accrued expenses                                                                                1,076,296   1,327,944

 Dividends payable                                                                                   100,224              100,175

 Income taxes payable                                                                                 9,851      112,239

Total current liabilities                                                                                     9,188,471 12,511,278

Long-term debt                                                                                              2,350,000   2,350,000

Deferred income taxes                                                                                      378,143     378,143

Total liabilities                                                                                               11,916,614 15,239,421

Stockholders' equity:

 Common stock                                                                                     2,956,151   2,955,641

 Additional paid-in capital                                                                       8,484,493   8,483,237

 Retained earnings                                                                                 6,014,886   5,808,674

 Treasury stock, 21,500 shares at cost                                                        (40,145)    (40,145)

  Total stockholders' equity                                                          17,415,385 17,207,407

                                                                                                                 $ 29,331,999 32,446,828

                                                                                                                    =======         =======

*  The condensed consolidated balance sheet is derived from the Companys audited balance sheet as of that date.

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