<TABLE>
                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                            <C>              <C>       <C>      <C>      <C> <C>  <C>     <C>          <C>      <C>      <C>
AIRGAS INC COM                 COM              009363102     1580   190100 SH       SOLE                     6200            183900
AK STL HLDG CORP COM           COM              001547108     1950   187924 SH       SOLE                    73258            114666
ANALOG DEVICES INC COM         COM              032654105      242     3000 SH       SOLE                                       3000
ANANGEL-AMERN SHIPHLDG SPONSOR COM              032721201     2210   353551 SH       SOLE                   228211            125340
ANSYS INC COM                  COM              03662Q105     1957   182050 SH       SOLE                    30000            152050
B&H OCEAN CARRIERS LTD COM     COM              055090104      558   425067 SH       SOLE                   304405            120662
BERRY PETE CO CL A             COM              085789105     3126   181891 SH       SOLE                    42300            139591
BLAIR CORP COM                 COM              092828102     1715   107200 SH       SOLE                    33100             74100
BSB BANCORP COM                COM              055652101     3018   144553 SH       SOLE                    49845             94708
CALLON PETE CO DEL COM         COM              13123X102     2857   235602 SH       SOLE                    89100            146502
CAMPBELL RES INC NEW COM       COM              134422104       11    46253 SH       SOLE                    46253
CARBIDE/GRAPHITE GROUP COM     COM              140777103      474    99800 SH       SOLE                    22000             77800
CASCADE CORP COM               COM              147195101     1398   127070 SH       SOLE                     9000            118070
CLEVELAND CLIFFS INC COM       COM              185896107     1116    47248 SH       SOLE                     5100             42148
COCA COLA BOTTLNG CONS COM     COM              191098102      318     6000 SH       SOLE                                       6000
COHO ENERGY INC COM NEW        COM              192481208       19    82019 SH       SOLE                                      82019
COURIER CORP COM               COM              222660102     4423   190243 SH       SOLE                   110215             80028
CULP INC COM                   COM              230215105      953   177344 SH       SOLE                    95915             81429
DATA I O CORP COM              COM              237690102     1444   350113 SH       SOLE                   236855            113258
DEPARTMENT 56 INC COM          COM              249509100      841    56800 SH       SOLE                                      56800
DIXIE GROUP INC                COM              255519100     1786   402404 SH       SOLE                   227051            175353
DREW INDS INC COM NEW          COM              26168L205     1548   221096 SH       SOLE                    91700            129396
DUCOMMUN INC DEL COM           COM              264147109     2465   268353 SH       SOLE                    98566            169787
ENNIS BUSINESS FORMS COM       COM              293389102     1691   233200 SH       SOLE                    48800            184400
ENVIROGEN INC COM              COM              294040100       75    20000 SH       SOLE                    20000
ESTERLINE TECHNOLOGIES COM     COM              297425100     3647   280505 SH       SOLE                   118170            162335
EXXON MOBIL CORP COM           COM              30231G102      218     2796 SH       SOLE                                       2796
FIRST AMERN FINL CORP COM      COM              318522307     3052   218945 SH       SOLE                    84113            134832
FIRST ESSEX BANCORP COM        COM              320103104     1561   101108 SH       SOLE                    24700             76408
FRONTIER OIL CORP COM          COM              35914P105     4120   549344 SH       SOLE                   314744            234600
GREIF BROS CORP CL A           COM              397624107     3993   125284 SH       SOLE                    45400             79884
HARDINGE INC COM               COM              412324303     1909   186250 SH       SOLE                    71450            114800
IBP INC COM                    COM              449223106     1056    67050 SH       SOLE                     2000             65050
IMC GLOBAL INC COM             COM              449669100     1384    94262 SH       SOLE                     5000             89262
IMPALA PLATINUM HLDGS ADR      COM              452553209     5499   157109 SH       SOLE                    88116             68993
INACOM CORP COM                COM              45323G109      196    71100 SH       SOLE                    41150             29950
INVACARE CORP COM              COM              461203101     1575    57400 SH       SOLE                                      57400
KAISER ALUMINUM CORP COM       COM              483007100     1036   230188 SH       SOLE                   144600             85588
KEVCO INC COM                  COM              492716105      313   158950 SH       SOLE                    92500             66450
LA Z BOY INC COM               COM              505336107     3805   247483 SH       SOLE                    91403            156080
LAWRENCE SV BK MA NEW COM      COM              520341108      279    39790 SH       SOLE                                      39790
LINDBERG CORP COM              COM              535171102     2119   345906 SH       SOLE                   146255            199651
LOUIS DREYFUS NAT GAS COM      COM              546011107     2150    63233 SH       SOLE                     2580             60653
MAXXAM INC COM                 COM              577913106     1038    36427 SH       SOLE                    11406             25021
MICROTOUCH SYS INC COM         COM              595145103     1613   125900 SH       SOLE                    20500            105400
MIDWAY AIRLS CORP COM          COM              598126100      689   137700 SH       SOLE                     7900            129800
NATIONAL STD CO COM            COM              637742107      758   379128 SH       SOLE                   269634            109494
NORD PAC LTD ORD NEW           COM              65556D102       31    77710 SH       SOLE                    70110              7600
PATRICK INDS INC COM           COM              703343103     1502   195400 SH       SOLE                    89800            105600
PRINTRONIX INC COM             COM              742578107     6117   307751 SH       SOLE                   143052            164699
QUIDEL CORP COM                COM              74838J101     3017   430938 SH       SOLE                   190176            240762
RANGER OIL LTD COM             COM              752805101     2545   646372 SH       SOLE                   421075            225297
REHABCARE GROUP INC COM        COM              759148109     2518   102000 SH       SOLE                    14000             88000
REPAP ENTERPRISES INC COM      COM              76026M309      196  2615148 SH       SOLE                  2615148
SCAN OPTICS INC COM            COM              805894102      488   244218 SH       SOLE                   208917             35301
STOLT NIELSEN S A SPON ADR REP COM              861565109     4689   253481 SH       SOLE                    97500            155981
SYNALLOY CP DEL COM            COM              871565107      176    23900 SH       SOLE                    23900
TEREX CORP NEW COM             COM              880779103     2477   172291 SH       SOLE                    64744            107547
TODHUNTER INTL INC DEL COM     COM              889050100      805   100668 SH       SOLE                    81141             19527
TRANS LUX CORP COM             COM              893247106      395    58550 SH       SOLE                    42200             16350
WELLS GARDNER ELECTRS COM      COM              949765101     1559   409015 SH       SOLE                   134925            274090
WESTMORELAND COAL CO COM       COM              960878106     2482   650893 SH       SOLE                   570934             79959
WORLD FUEL SVCS CORP COM       COM              981475106      377    51600 SH       SOLE                                      51600
CASTLE CONV FD INC COM         COM              148443104      502    24546 SH       SOLE                                      24546
DUFF&PHELPS UTIL CP BD COM     COM              26432K108      297    26723 SH       SOLE                                      26723
DUFF&PHELPS UTILS INCM COM     COM              264324104      641    72719 SH       SOLE                                      72719
INDEPENDENCE SQ INCOME COM     COM              453779100      412    26550 SH       SOLE                                      26550
</TABLE>