It is shown that the amplitudes of successive echoes in a stray-field magnetic resonance imaging (STRAFI) experiment are strongly modulated by the intense magnetic-field gradient used and by sample movement during the experiment. In this paper the modulation is analyzed so that quantitative interpretation of STRAFI images reconstructed from multiple-echo data can be made. Spin-spin relaxation is included. Theoretical predictions of relative echo intensities are compared with data obtained from an experiment to visualize acetone penetration into PVC. (C) 1995 Academic Press, Inc.