Test results for students from Massachusetts charter schools were analyzed. As 14 Massachusetts charter schools completed their second year of operation, and 7 more finished their first year, results from standardized tests taken by charter school students were becoming available. Test results are the only indicators of performance analyzed in this report, although they will not be the only indicators considered by the Massachusetts Department of Education in evaluating the performance of a charter school. Tests results show that, with two exceptions, students who entered the charter schools on average scored at, or below, district or national test averages. Other data also suggest that 80% of the charter schools that opened in 1995 (12 of 15) have enrolled students who are average or below average in academic performance. Early preliminary results for charter schools from other sources are promising, and charter schools are now using a combination of standardized tests, portfolio assessment, and other performance measures in order to demonstrate educational results. An appendix contains an assessment profile for each of 22 charter schools. (SLD)