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 Exchange Act of 1934

                                  May 13, 2003
                Date of Report (Date of earliest event reported)

                         Commission File Number 0-16323

                         LASER-PACIFIC MEDIA CORPORATION
             (Exact name of registrant as specified in its charter)



                 Delaware                               95-3824617
      (State or Other Jurisdiction of      (I.R.S. Employer Identification No.)
      Incorporation or Organization)


               809 N. Cahuenga Blvd., Hollywood, California 90038
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (323) 462-6266

                                 Not applicable.
         (Former name or former address, if changed since last report.)



<PAGE>




Item 9.                    Regulation FD Disclosure.

In  accordance  with  the  guidance  provided  by the  Securities  and  Exchange
Commission  in  Securities  Act Release No.  33-8216,  the  information  in this
Current  Report on Form 8-K  (including  the  exhibit),  which is intended to be
furnished  pursuant  to Item  12 of Form  8-K  and is  instead  being  furnished
pursuant to Item 9, shall not be deemed  "filed" under the  Securities  Exchange
Act of 1934,  as  amended,  or  otherwise  subject  to  liabilities  thereunder.
Furthermore,  the  information in this Current Report on Form 8-K (including the
exhibit),  shall not be deemed to be  incorporated by reference into the filings
of the Company under the Securities Act of 1933, as amended.

On May 13, 2003,  the Company  issued a press release  announcing  its financial
results  for the  quarter  ended  March  31,  2003.  A copy of that  release  is
furnished  as  Exhibit  99.1  to  this  report  and is  incorporated  herein  by
reference.








<PAGE>




                                    SIGNATURE

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.


LASER-PACIFIC MEDIA CORPORATION

By:                    /s/ Robert McClain
Name:                  Robert McClain
Title:                 Corporate Secretary



Date: May 13, 2003







<PAGE>


EXHIBIT INDEX


Exhibit 99.1: Press release  reporting the Company's  financial  results for the
quarter ended March 31, 2003.




<PAGE>



                                                                    Exhibit 99.1
   `
                                         Contacts:

                                         Robert McClain, Chief Financial Officer
                                         Laser-Pacific Media Corporation
                                         323.462.6266
                                         investor@laserpacific.com

                                         Roger Pondel/Angie Yang
                                         PondelWilkinson MS&L
                                         323.866.6060
                                         investor@pondel.com


                                                           FOR IMMEDIATE RELEASE



      LASER-PACIFIC MEDIA CORPORATION REPORTS STRONG FIRST QUARTER RESULTS

          -- Company Posts Double-Digit Gains in Revenues and Net Income --


     HOLLYWOOD,  California  - May 13, 2003 -  Laser-Pacific  Media  Corporation
(Nasdaq NM: LPAC) today reported  increases in revenues,  income from operations
and net income for the three months ended March 31, 2003.

     Revenues for the 2003 first quarter  increased 22.6 percent to $9.8 million
from $8.0 million in the first quarter  2002.  Gross profit grew 32.4 percent to
$2.7 million from $2.0 million a year  earlier,  and improved as a percentage of
total revenues to 27.7 percent,  compared with 25.7 percent in the first quarter
of 2002. Income from operations for the current quarter totaled $1.3 million,  a
48.7 percent increase over $850,000 in the  corresponding  year-ago period.  Net
income rose 66.9 percent to $656,000, or $0.09 per diluted share, from $393,000,
or $0.06 per diluted share, in the 2002 first quarter.

     "In spite of the challenging  economic environment in the entertainment and
advertising industries,  Laser-Pacific posted double-digit gains in revenues and
net income over  prior-year  periods,"  said James R. Parks,  chairman and chief
executive officer of Laser-Pacific. "In addition to higher demand in the quarter
for the services we offer,  results also benefited  from an increased  number of
feature films serviced by the company."



<PAGE>


     Emory M. Cohen,  president and chief  operating  officer of  Laser-Pacific,
said:  "In addition to a busy '02-'03  television  season,  we have  experienced
healthy growth in activity in our new motion picture  services  operation during
the first quarter of 2003. During this quarter we opened our first digital color
timing  theatre and it has been well received by our feature film  clients.  The
timing  theatre  marks a  significant  milestone  in our  planned  expansion  of
services for the feature film  industry.  With the enhanced  film  recording and
film-to-data  processes  currently  under  development,  we expect  that  motion
picture services will be an increasingly significant factor in our future."

     Laser-Pacific  continued  to  strengthen  its balance  sheet,  with current
assets of $13.5 million,  including  $7.7 million in cash and cash  equivalents,
working capital of $6.5 million,  and net stockholders' equity of $19.5 million,
or $2.74 per diluted share, at March 31, 2003.


                      About Laser-Pacific Media Corporation

     Laser-Pacific  Media  Corporation  is a premier  media  technology  company
providing a  comprehensive  offering of  post-production  services to the motion
picture and television industries.  Well known as a leading provider of advanced
high definition services to the entertainment industry, Laser-Pacific opened the
world's first digital high  definition  facility.  Recognized for its pioneering
work and  technical  innovations,  the Company has been  awarded  five  Emmy(TM)
awards  for  outstanding  achievement  in  engineering  development,  as well as
numerous  awards for technical  excellence in the post  production of television
and the authoring of DVDs.

     Statements  included within this news release,  which are not historical in
nature,  may constitute  forward-looking  statements for the purpose of the safe
harbor  provided  by the  Private  Securities  Litigation  Reform  Act of  1995.
Investors are cautioned that such statements, which include, but are not limited
to, the Company's future operating  results,  the Company's ability to enter new
markets,  including  the  field  of  digital  intermediaries,  expand  services,
strengthen  its  balance  sheet,  cash  position,  and  working  capital,  enter
strategic  alliances and consummate  acquisitions,  involve  uncertainties,  and
actual results could differ from those described  herein.  Other factors include
the Company's ability to successfully  expand capacity,  general economic market
or business conditions,  investments in new technologies,  continuation of sales
levels,  the risks related to the cost and  availability  of capital,  and other
factors,  many  of  which  are  beyond  the  control  of  the  Company.  Careful
consideration  should be given to  cautionary  statements  made in the Company's
most recently filed SEC documents, in particular,  the Company's 10-K and 10-Qs.

                                     # # #

                                 TABLES FOLLOW



<PAGE>







                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)




<TABLE>
<CAPTION>
                                                                                            Three Months Ended
                                                                                                March 31,
                                                                                    -----------------------------------
                                                                                         2003               2002
                                                                                    ---------------    ----------------

   <S>                                                                           <C>                <C>
   Revenues                                                                      $       9,794,754  $        7,989,218
   Operating costs:
     Direct costs                                                                        5,788,401           4,797,443
     Depreciation                                                                        1,293,649           1,142,255
                                                                                    ---------------    ----------------
       Total operating costs                                                             7,082,050           5,939,698
                                                                                    ---------------    ----------------
         Gross profit                                                                    2,712,704           2,049,520
   Selling, general and administrative
       expenses                                                                          1,449,539           1,199,918
                                                                                    ---------------    ----------------
         Income from operations                                                          1,263,165             849,602

   Interest expense                                                                        189,866             225,530
   Other income                                                                             19,899              30,988
                                                                                    ---------------    ----------------
         Income before income taxes                                                      1,093,198             655,060

   Provision for income taxes                                                              437,465             262,210
                                                                                    ---------------    ----------------
         Net income                                                              $         655,733  $          392,850
                                                                                    ===============    ================



   Net income per share (basic)                                                  $            0.09  $             0.06
                                                                                    ===============    ================

   Net income per share (diluted)                                                $            0.09  $             0.06
                                                                                    ===============    ================

   Weighted average shares outstanding (basic)                                           7,101,295           7,104,595
                                                                                    ===============    ================

   Weighted average shares outstanding (diluted)                                         7,115,653           7,127,528
                                                                                    ===============    ================
</TABLE>




<PAGE>


                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                      Condensed Consolidated Balance Sheets
                                   (Unaudited)



<TABLE>
<CAPTION>
                                                                                  March 31,         December 31,
                                                                                     2003               2002
                                                                                ---------------    ----------------
Assets

Current Assets:
<S>                                                                          <C>                <C>
   Cash and cash equivalents                                                 $       7,690,677  $        6,682,395
   Receivables, net of allowance for doubtful accounts                               4,377,274           4,835,360
   Other current assets                                                              1,418,375           1,405,772
                                                                                ---------------    ----------------

     Total Current Assets                                                           13,486,326          12,923,527

Net property and equipment, at cost                                                 21,219,580          21,187,713
Other assets                                                                           185,254             188,579
                                                                                ---------------    ----------------

Total Assets                                                                 $      34,891,160  $       34,299,819
                                                                                ===============    ================

Liabilities and Stockholders' Equity

Current Liabilities:
   Current installments of notes payable to bank and long-term debt          $       3,390,215  $        3,528,407
   Other current liabilities                                                         3,613,441           2,718,814
                                                                                ---------------    ----------------

     Total Current Liabilities                                                       7,003,656           6,247,221

Deferred tax liabilities                                                               829,058             829,058
Notes payable to bank and long-term debt, less current installments                  7,594,626           8,415,453

Stockholders' Equity:
Preferred stock, $.0001 par value.  Authorized 3,500,000 shares;                            --                  --
   none issued
Common stock, $.0001 par value.  Authorized 25,000,000 shares;
   issued and outstanding 7,101,295 at March 31, 2003 and December
   31, 2002.                                                                               710                 710
Additional paid-in capital                                                          18,089,063          18,089,063
Retained earnings                                                                    1,374,047             718,314
                                                                                ---------------    ----------------

   Net Stockholders' Equity                                                         19,463,820          18,808,087
                                                                                ---------------    ----------------

Total Liabilities and Stockholders' Equity                                   $      34,891,160  $       34,299,819
                                                                                ===============    ================

</TABLE>
[{"type": "8-K", "sequence": "1", "filename": "form8k033103.txt", "description": "PRESS RELEASE", "secsgml_size_bytes": 15952}]
{"company-data": {"conformed-name": "LASER PACIFIC MEDIA CORP", "cik": "0000875738", "assigned-sic": "7819", "irs-number": "953824617", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-16323", "film-number": "03695854"}, "business-address": {"street1": "809 N CAHUENGA BLVD", "city": "LOS ANGELES", "state": "CA", "zip": "90038", "phone": "3234626266"}, "mail-address": {"street1": "809 N CAHUENGA BLVD", "city": "LOS ANGELES", "state": "CA", "zip": "90038"}}
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 Exchange Act of 1934

                                  May 13, 2003
                Date of Report (Date of earliest event reported)

                         Commission File Number 0-16323

                         LASER-PACIFIC MEDIA CORPORATION
             (Exact name of registrant as specified in its charter)

                 Delaware                               95-3824617
      (State or Other Jurisdiction of      (I.R.S. Employer Identification No.)
      Incorporation or Organization)

               809 N. Cahuenga Blvd., Hollywood, California 90038
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (323) 462-6266

                                 Not applicable.
         (Former name or former address, if changed since last report.)
Item 9.                    Regulation FD Disclosure.

In  accordance  with  the  guidance  provided  by the  Securities  and  Exchange
Commission  in  Securities  Act Release No.  33-8216,  the  information  in this
Current  Report on Form 8-K  (including  the  exhibit),  which is intended to be
furnished  pursuant  to Item  12 of Form  8-K  and is  instead  being  furnished
pursuant to Item 9, shall not be deemed  "filed" under the  Securities  Exchange
Act of 1934,  as  amended,  or  otherwise  subject  to  liabilities  thereunder.
Furthermore,  the  information in this Current Report on Form 8-K (including the
exhibit),  shall not be deemed to be  incorporated by reference into the filings
of the Company under the Securities Act of 1933, as amended.

On May 13, 2003,  the Company  issued a press release  announcing  its financial
results  for the  quarter  ended  March  31,  2003.  A copy of that  release  is
furnished  as  Exhibit  99.1  to  this  report  and is  incorporated  herein  by
reference.
SIGNATURE

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.

LASER-PACIFIC MEDIA CORPORATION

By:                    /s/ Robert McClain
Name:                  Robert McClain
Title:                 Corporate Secretary

Date: May 13, 2003
EXHIBIT INDEX

Exhibit 99.1: Press release  reporting the Company's  financial  results for the
quarter ended March 31, 2003.
Exhibit 99.1
   `
                                         Contacts:

                                         Robert McClain, Chief Financial Officer
                                         Laser-Pacific Media Corporation
                                         323.462.6266
                                         investor@laserpacific.com

                                         Roger Pondel/Angie Yang
                                         PondelWilkinson MS&L
                                         323.866.6060
                                         investor@pondel.com

                                                           FOR IMMEDIATE RELEASE

      LASER-PACIFIC MEDIA CORPORATION REPORTS STRONG FIRST QUARTER RESULTS

          -- Company Posts Double-Digit Gains in Revenues and Net Income --

     HOLLYWOOD,  California  - May 13, 2003 -  Laser-Pacific  Media  Corporation
(Nasdaq NM: LPAC) today reported  increases in revenues,  income from operations
and net income for the three months ended March 31, 2003.

     Revenues for the 2003 first quarter  increased 22.6 percent to $9.8 million
from $8.0 million in the first quarter  2002.  Gross profit grew 32.4 percent to
$2.7 million from $2.0 million a year  earlier,  and improved as a percentage of
total revenues to 27.7 percent,  compared with 25.7 percent in the first quarter
of 2002. Income from operations for the current quarter totaled $1.3 million,  a
48.7 percent increase over $850,000 in the  corresponding  year-ago period.  Net
income rose 66.9 percent to $656,000, or $0.09 per diluted share, from $393,000,
or $0.06 per diluted share, in the 2002 first quarter.

     "In spite of the challenging  economic environment in the entertainment and
advertising industries,  Laser-Pacific posted double-digit gains in revenues and
net income over  prior-year  periods,"  said James R. Parks,  chairman and chief
executive officer of Laser-Pacific. "In addition to higher demand in the quarter
for the services we offer,  results also benefited  from an increased  number of
feature films serviced by the company."
Emory M. Cohen,  president and chief  operating  officer of  Laser-Pacific,
said:  "In addition to a busy '02-'03  television  season,  we have  experienced
healthy growth in activity in our new motion picture  services  operation during
the first quarter of 2003. During this quarter we opened our first digital color
timing  theatre and it has been well received by our feature film  clients.  The
timing  theatre  marks a  significant  milestone  in our  planned  expansion  of
services for the feature film  industry.  With the enhanced  film  recording and
film-to-data  processes  currently  under  development,  we expect  that  motion
picture services will be an increasingly significant factor in our future."

     Laser-Pacific  continued  to  strengthen  its balance  sheet,  with current
assets of $13.5 million,  including  $7.7 million in cash and cash  equivalents,
working capital of $6.5 million,  and net stockholders' equity of $19.5 million,
or $2.74 per diluted share, at March 31, 2003.

                      About Laser-Pacific Media Corporation

     Laser-Pacific  Media  Corporation  is a premier  media  technology  company
providing a  comprehensive  offering of  post-production  services to the motion
picture and television industries.  Well known as a leading provider of advanced
high definition services to the entertainment industry, Laser-Pacific opened the
world's first digital high  definition  facility.  Recognized for its pioneering
work and  technical  innovations,  the Company has been  awarded  five  Emmy(TM)
awards  for  outstanding  achievement  in  engineering  development,  as well as
numerous  awards for technical  excellence in the post  production of television
and the authoring of DVDs.

     Statements  included within this news release,  which are not historical in
nature,  may constitute  forward-looking  statements for the purpose of the safe
harbor  provided  by the  Private  Securities  Litigation  Reform  Act of  1995.
Investors are cautioned that such statements, which include, but are not limited
to, the Company's future operating  results,  the Company's ability to enter new
markets,  including  the  field  of  digital  intermediaries,  expand  services,
strengthen  its  balance  sheet,  cash  position,  and  working  capital,  enter
strategic  alliances and consummate  acquisitions,  involve  uncertainties,  and
actual results could differ from those described  herein.  Other factors include
the Company's ability to successfully  expand capacity,  general economic market
or business conditions,  investments in new technologies,  continuation of sales
levels,  the risks related to the cost and  availability  of capital,  and other
factors,  many  of  which  are  beyond  the  control  of  the  Company.  Careful
consideration  should be given to  cautionary  statements  made in the Company's
most recently filed SEC documents, in particular,  the Company's 10-K and 10-Qs.

                                     # # #

                                 TABLES FOLLOW
LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)
Three Months Ended
                                                                                                March 31,
                                                                                    -----------------------------------
                                                                                         2003               2002
                                                                                    ---------------    ----------------
Revenues                                                                      $       9,794,754  $        7,989,218
   Operating costs:
     Direct costs                                                                        5,788,401           4,797,443
     Depreciation                                                                        1,293,649           1,142,255
                                                                                    ---------------    ----------------
       Total operating costs                                                             7,082,050           5,939,698
                                                                                    ---------------    ----------------
         Gross profit                                                                    2,712,704           2,049,520
   Selling, general and administrative
       expenses                                                                          1,449,539           1,199,918
                                                                                    ---------------    ----------------
         Income from operations                                                          1,263,165             849,602

   Interest expense                                                                        189,866             225,530
   Other income                                                                             19,899              30,988
                                                                                    ---------------    ----------------
         Income before income taxes                                                      1,093,198             655,060

   Provision for income taxes                                                              437,465             262,210
                                                                                    ---------------    ----------------
         Net income                                                              $         655,733  $          392,850
                                                                                    ===============    ================

   Net income per share (basic)                                                  $            0.09  $             0.06
                                                                                    ===============    ================

   Net income per share (diluted)                                                $            0.09  $             0.06
                                                                                    ===============    ================

   Weighted average shares outstanding (basic)                                           7,101,295           7,104,595
                                                                                    ===============    ================

   Weighted average shares outstanding (diluted)                                         7,115,653           7,127,528
                                                                                    ===============    ================
LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                      Condensed Consolidated Balance Sheets
                                   (Unaudited)
March 31,         December 31,
                                                                                     2003               2002
                                                                                ---------------    ----------------
Assets

Current Assets:
Cash and cash equivalents                                                 $       7,690,677  $        6,682,395
   Receivables, net of allowance for doubtful accounts                               4,377,274           4,835,360
   Other current assets                                                              1,418,375           1,405,772
                                                                                ---------------    ----------------

     Total Current Assets                                                           13,486,326          12,923,527

Net property and equipment, at cost                                                 21,219,580          21,187,713
Other assets                                                                           185,254             188,579
                                                                                ---------------    ----------------

Total Assets                                                                 $      34,891,160  $       34,299,819
                                                                                ===============    ================

Liabilities and Stockholders' Equity

Current Liabilities:
   Current installments of notes payable to bank and long-term debt          $       3,390,215  $        3,528,407
   Other current liabilities                                                         3,613,441           2,718,814
                                                                                ---------------    ----------------

     Total Current Liabilities                                                       7,003,656           6,247,221

Deferred tax liabilities                                                               829,058             829,058
Notes payable to bank and long-term debt, less current installments                  7,594,626           8,415,453

Stockholders' Equity:
Preferred stock, $.0001 par value.  Authorized 3,500,000 shares;                            --                  --
   none issued
Common stock, $.0001 par value.  Authorized 25,000,000 shares;
   issued and outstanding 7,101,295 at March 31, 2003 and December
   31, 2002.                                                                               710                 710
Additional paid-in capital                                                          18,089,063          18,089,063
Retained earnings                                                                    1,374,047             718,314
                                                                                ---------------    ----------------

   Net Stockholders' Equity                                                         19,463,820          18,808,087
                                                                                ---------------    ----------------

Total Liabilities and Stockholders' Equity                                   $      34,891,160  $       34,299,819
                                                                                ===============    ================