A system and method for receiving an input bit stream defining a non-interlaced video image and for producing concurrently an output bit stream defining an interlaced representation of such image. Intermediate storage of every other input raster line in a first-in/first-out oriented memory permits the output of the interlaced signal to be interleaved with the receipt of the non-interlaced input, and the interleaving of the input and output operations permits the use of a memory module having a capacity less than that required to store a complete raster line of input information. Provision is also made for synchronizing the output operation to U.S. or European standards.