FORM 10-Q

                      SECURITIES & EXCHANGE COMMISSION

                          Washington, D.C. 20549
(Mark One)

[X]	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended             June 30, 1997

	OR

[ ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES AND EXCHANGE ACT OF 1934

For the transition period from                      to

Commission file number                      0-20680

              Concepts Direct, Inc.
(Exact name of registrant as specified in its charter)

          Delaware                                      52-1781893
(State or other jurisdiction                          (I.R.S. employer
of incorporation or organization)                    identification No.)

            2950 Colorful Avenue, Longmont, CO 80504
         (Address of principal executive offices, Zip Code)

                             (303)772-9171
       (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

Yes   X    No

As of  July 22, 1997, 4,949,286 shares of Common Stock, $.10 par value, were
outstanding.


CONCEPTS DIRECT, INC.
FORM 10-Q
INDEX

PART I.	FINANCIAL INFORMATION

Item 1.	Financial Statements:

Balance Sheets as of June 30, 1997 and December 31, 1996

Statements of Operations  for the three and six months ended
  June 30, 1997 and June 30, 1996

Statements of Cash Flows for the six months ended June 30, 1997
  and June 30, 1996

Notes to Financial Statements

Item 2. Management's Discussion and Analysis of Financial
          Condition and Results of Operations

PART II.OTHER INFORMATION

Item 4.	Submission of matters to a vote of Security Holders
Item 6.	Exhibits and reports on Form 8-K


CONCEPTS DIRECT, INC.
Balance Sheets
(Unaudited)

				                       June 30,   December 31,
ASSETS                                                     1997           1996
Current assets
     Cash and cash equivalents                      $         -    $ 6,425,137
     Restricted cash                                    500,000              -
     Accounts receivable, less allowances               217,973        165,833
     Deferred advertising costs                       7,566,434      3,818,827
     Inventories, less allowances                     3,474,990      2,783,999
     Prepaid expenses and other                         539,872        248,920

          Total current assets                       12,299,269     13,442,716

Property and equipment, net                           6,278,088        792,199

Other assets                                            367,898        252,068

TOTAL ASSETS                                        $18,945,255    $14,486,983


LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
     Accounts payable                               $ 8,019,629    $ 5,323,278
     Current maturities of lease obligations             12,396         59,457
     Accrued employee compensation                      480,002        584,868
     Customer liabilities                             1,263,239        762,491
     Current and deferred income taxes payable        1,147,643        787,643
          Total current liabilities                  10,922,909      7,517,737

Commitments

Stockholders' equity
     Common Stock, $.10 par value, authorized
          6,000,000 shares, issued and
          outstanding 4,252,882 and 4,240,216
          shares, respectively                          425,288        212,111
     Additional paid-in capital                       4,173,229      4,374,455
     Retained earnings                                3,423,829      2,382,680

          Total stockholders' equity                  8,022,346      6,969,246

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY          $18,945,255    $14,486,983

See notes to financial statements.


CONCEPTS DIRECT, INC.
Statements of Operations
(Unaudited)

                                          Three Months Ended  Six Months Ended
                                                    June 30,          June 30,
                                      1997        1996        1997        1996

Net sales                      $14,766,280 $ 9,000,393 $30,718,640 $20,584,357

Operating costs and expenses:
  Cost of product and delivery   7,814,393   4,907,287  15,773,814  10,848,633
  Selling, general and
    administrative               6,505,509   4,437,440  13,547,541   9,817,336

  Total operating costs and
    expenses                    14,319,902   9,344,727  29,321,355  20,665,969

Operating income (loss)            446,378    (344,334)  1,397,285    (81,612)

Other income, net                  122,607      34,591     223,864     146,638

Income (loss) before income
  taxes                            568,985    (309,743)  1,621,149      65,026

Provision (credit) for
  income taxes                     201,000     (90,000)    580,000      19,000

Net income (loss)              $   367,985 $  (219,743) $1,041,149 $    46,026

Net earnings (loss) per
  common share                 $      0.08 $     (0.05) $     0.23 $      0.01
Weighted average number of
  common shares and common
  share	equivalents
  outstanding                    4,481,803   4,441,452   4,481,981   4,441,792


See notes to financial statements.


CONCEPTS DIRECT, INC.
Statements of Cash Flows
(Unaudited)
                                                              Six Months Ended
                                                                      June 30,
                                                              1997        1996
OPERATING ACTIVITIES
  Net income                                        $1,041,149    $    46,026
   Adjustments to reconcile net income to
      net cash used in operations:
    Provision for losses on accounts
      receivable                                         1,000         13,000
    Provision (credit) for losses in
      inventory values                                  90,701        (37,446)
    Depreciation and amortization                      164,194        248,595
    Current and deferred income taxes                  360,000       (101,883)
    Changes in operating assets and liabilities:
    Accounts receivable                                (53,140)       (38,861)
    Deferred advertising costs                      (3,747,607)        23,939
    Inventories                                       (781,692)       763,808
    Prepaid expenses and other                        (290,952)       (92,432)
    Accounts payable                                 2,696,351       (201,548)
    Accrued employee compensation                     (104,866)      (168,288)
    Customer liabilities                               500,748       (200,641)
NET CASH PROVIDED BY (USED IN) OPERATING
  ACTIVITIES                                          (124,114)       254,269

INVESTING ACTIVITIES
  Cash restricted as collateral                       (500,000)             -
  Purchases of property and equipment               (5,650,083)      (182,318)
  Other investing activities                          (115,830)       (67,574)
NET CASH USED IN INVESTING ACTIVITIES               (6,265,913)      (249,892)

FINANCING ACTIVITIES
  Principal payments of lease obligations             (47,061)        (47,755)
  Sale of common stock and stock options               11,951           7,134
NET CASH USED IN FINANCING ACTIVITIES                 (35,110)        (40,621)

DECREASE IN CASH AND CASH EQUIVALENTS              (6,425,137)        (36,244)

Cash and cash equivalents at beginning of period    6,425,137       3,324,838

Cash and cash equivalents at end of period       $          -     $ 3,288,594

See notes to financial statements.


CONCEPTS DIRECT, INC.
Notes to Financial Statements
(Unaudited)

1.  Accounting Policies

The Company's unaudited interim financial statements have been prepared by
the Company in accordance with generally accepted accounting principles for
interim financial reporting and the regulations of the Securities and
Exchange Commission in regard to quarterly reporting.  Accordingly, they do
not include all information and footnotes required by generally accepted
accounting principles for complete financial statements.  In the opinion of
the Company, the statements include all adjustments, consisting only of
normal recurring adjustments, which are necessary for a fair presentation of
the financial position, results of operations and cash flows for the interim
periods.  Operating results for the three and six month periods ended June
30, 1997 are not necessarily indicative of the results that may be expected
for the year ending December 31, 1997.  Seasonal fluctuations in sales of
the Company's products result primarily from the purchasing patterns of the
individual consumer during the Christmas holiday season.  These patterns
tend to moderately concentrate sales in the latter half of the year,
particularly in the fourth quarter.  For further information refer to the
financial statements and footnotes thereto included in the Company's annual
report on Form 10-K for the year ended December 31, 1996.

In February, 1997, the Financial Accounting Standards Board issued Statement
No. 128, Earnings Per Share, which is required to be adopted on December 31,
1997.  At that time, the Company will be required to change the method
currently used to compute net income per share and to restate all prior
periods.  Under the new requirements for calculating primary earnings per
share, the dilutive effect of stock options will be excluded.  The impact
of Statement 128 on the calculation of primary and fully diluted net income
per share, which are currently the same, is not expected to be material.

2.  Stockholder's Equity

On February 25, 1997, the Board of Directors approved a two-for-one stock
split, effected in the form of a stock dividend payable March 31, 1997 to
shareholders of record on March 14, 1997.  Accordingly, June 30, 1997
balances reflect the split with an increase to common stock and a reduction
in additional paid-in capital of $212,544.  Number of shares outstanding and
per share data have been retroactively adjusted to reflect the split.

On July 2, 1997, the Company completed a stock offering for 1.5 million
shares of common stock.  As part of the offering, the Company issued 471,404
shares of stock.  The remaining 1,028,596 shares were sold by certain
existing shareholders of the Company.  An underwriters overallotment option
for an additional 225,000 shares was also exercised on July 9, 1997.  The
Company received approximately $10 million net proceeds, after deducting its
pro-rata percentage of the costs of the offering.  As of July 9, 1997,
4,949,286 shares of Common Stock were issued and outstanding.

3.  Commitments

In January 1997, the Company purchased approximately 139 acres of
undeveloped land near the Company's offices for approximately $1,400,000.
The Company intends to use a portion of this land for a new facility and to
hold the remaining land for sale or expansion.

The Company anticipates completing a new building, costing approximately
$8,600,000 during the summer of 1997.  The lease of the Company's current
facility at 1351 South Sunset Street, Longmont, Colorado expires on August
31, 1997.  The Company also anticipates significant additions to furniture
and equipment during 1997.

On March 25, 1997, an irrevocable standby letter of credit for $500,000 was
issued by a regional bank.  The letter of credit  relates to certain
obligations anticipated to be resolved within one year, in connection with
improvements to the building site.  The letter of credit is collateralized
by $500,000 of cash held on deposit in an interest bearing account at the
issuing bank.

In May 1997, the Company entered into a $3.7 million credit facility with a
bank, bearing interest at a variable rate equal to the bank's prime rate,
secured by the Company's cash, inventories, accounts receivable and
equipment.  The Company must comply with certain financial and performance
covenants contained in the credit facility, including a minimum current
ratio, a minimum tangible net worth, a maximum total debt to equity ratio
and a minimum debt service coverage ratio and maintenance of its primary
deposit accounts with the bank.  $700,000 of the credit facility is
available to finance furniture and equipment purchases and, until April,
1998, amounts funded may be converted to a three year term note at a
variable rate equal to the bank's prime rate.  The remaining $3 million of
the credit facility is made up of two revolving lines of credit.  $1 million
is available for the purchase of paper to be used in future catalog
mailings.   $2 million is available for general working capital purposes, at
management's discretion.  The credit facility expires in April, 1998, at
which time the Company anticipates being able to renew the arrangements.

In July, 1997, the Company entered into a $5,780,000 credit facility with a
bank, bearing interest at a variable rate equal to the bank's prime rate
plus one percent, secured by the Company's facilities, land, cash,
inventories, accounts receivable and equipment.  $4,480,000 of the credit
facility is a construction loan to fund part of the costs of the Company's
new facility.  $1,300,000 of the credit facility is a land development loan
to fund part of the costs of purchasing and developing the land purchased in
January and on which the Company is building a new facility.  The Company
must comply with certain financial and performance covenants contained in
the credit facility, including a minimum current ratio, a minimum tangible
net worth, a maximum total debt to equity ratio and a minimum debt service
coverage ratio and maintenance of its primary accounts with the bank.  The
credit facility expires in April, 1998, prior to which time the Company
anticipates converting the credit facility into permanent financing.


MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS AND FINANCIAL CONDITION

The Company's net sales increased by $10.1 million, or 49%, to $30.8 million
for the six month period ended June 30, 1997 from $20.6 million in the same
period in 1996 and increased by $5.8 million, or 64%, to $14.8 million for
the second quarter of 1997 from $9.0 million in the same period in 1996.
These increases resulted primarily  from the distribution of a greater
number of catalogs and other advertising media, increased page count of the
catalogs and an increase in the number of products offered.  Lower paper
costs for the catalogs contributed to an increase in the number of names
that could be mailed on a cost effective basis.  Personalized paper product
sales increased by approximately $2.2 million, or 16%, for the six month
period ended June 30th and increased by $1.7 million, or 29%, for the
quarter period ended June 30, 1997.  Personalized paper product sales
decreased as a percentage of total sales for the six  month period ended
June 30th to 51% in 1997 from 65% in 1996 and decreased for the second
quarter to 48% in 1997 from 61% in 1996.  This decrease occurred primarily
because of advertising and sales of a greater number of gift and merchandise
items.

Cost of product and delivery for the six month period ended June 30th
decreased as a percentage of net sales to 51% in 1997 from 53% in 1996 and
decreased to 53% in the second quarter of 1997 from  55% for the second
quarter of 1996.  Gross profit increased by $5.2 million, or 54%, to $14.9
million for the six months ended June 30, 1997 from $9.7 million for the
same period in 1996. Gross profit increased  $2.9 million, or 70%, to $7.0
million for the second quarter of 1997 from $4.1 million for the second
quarter of  1996.  Gross profit increased as a percentage of sales to  49%
in 1997 from 47% in 1996 for the six month period ended June 30th and
increased to 47% in 1997 from 46% in 1996 for the second quarter.  The
increases in gross profit as a percentage of sales occurred primarily
because of improved efficiencies of operations, higher sales over which to
spread fixed costs associated with production and delivery and slightly
lower fulfillment costs on gift and merchandise items as compared to
personalized paper products.

Selling, general and administrative expense increased $3.7 million, or 38%,
to $13.5 million for the first six months of 1997 from $9.8 million for the
same period of 1996 and increased $2.1 million, or 47%, to $6.5 million for
the second quarter of 1997 from $4.4 million for the same quarter in 1996.
Selling, general and administrative costs as a percentage of net sales
decreased to 44% for the first six months of 1997 from 48% for the same
period in 1996 and decreased to 44% for the second quarter of 1997 from 49%
for the same quarter in 1996.  These decreases primarily related to lower
paper costs for catalog preparation and distribution and increased sales
over which to spread fixed costs.

Operating income increased by $1,479,000 to $1,397,000 for the six month
period ended June 30, 1997 as compared to an operating loss of $82,000 for
the same period in 1996.  The Company had operating income of $446,000 for
the second quarter of  1997 as compared to an operating loss of  $344,000
for the same quarter of 1996.  Operating income increased as a percentage of
net sales to 4.5% for the six months ended June 30, 1997  from an operating
loss of .4% in the same period of 1996.  Operating income  increased as a
percentage of net sales to 3.0% for the quarter ended June 30, 1997 from an
operating loss of 3.8% for the same quarter in 1996.  Other income,
primarily vendor payment discounts and interest income, was $224,000 for the
six month period ended June 30, 1997 as compared to $147,000 for the same
period in 1996.  Other income for the second quarter of 1997 was $123,000 as
compared to $35,000 for the same period in 1996.

The provision for income taxes was $580,000 and $19,000 for the six month
periods ended June 30, 1997 and 1996, respectively.  The Company had a
provision  for income taxes of  $201,000 for the quarter ended June 30, 1997
and had a credit for income taxes of $90,000 for the same quarter in 1996.
The provision for income taxes for 1997 reflects the 36% income tax rate
that management anticipates for the year.  The income tax rate was 36% in
the second quarter of 1997 as compared to 29% because of the availability of
research and development credits.

Net income increased by $995,000 to $1,041,000 for the first six months of
1997 from $46,000 for the same period in 1996.  Net income increased by
$588,000 to  $368,000 for the second quarter of 1997 as compared to net loss
of $220,000 for the same quarter in 1996.  Earnings per share increased by
$0.22 to $0.23 for the first six months of  1997 from $0.01 for the same
period in 1996 and increased by $0.13 to $0.08 for the second quarter of
1997 from a loss of  $0.05 for the same quarter of  1996.

LIQUIDITY AND CAPITAL RESOURCES

During the six month period ended June 30, 1997, cash and cash equivalents
decreased by $6,425,000.  Activity in several significant areas which had
the greatest impact on cash and cash equivalents are described below.

Increased advertising over 1996 levels and the forward buying of
approximately $2.5 million of paper for catalogs were the primary factors in
an increase of deferred advertising by $3,748,000.  The increase in sales
primarily led to the increase in inventories of $782,000.  Increased
advertising, increased inventories and the timing of payment of
construction costs for the Company's new facility were the primary reasons
for an increase of accounts payable of  $2,696,000.

Significant items of investing activities during the six months ended June
30, 1997 were purchases of property and equipment of $5,650,000 and the use
of $500,000 to collateralize a letter of credit.  The purchases of property
and equipment primarily related to the purchase of undeveloped land and
certain costs of  a new facility currently under construction on the
property.  The letter of credit relates to certain obligations generally
expected to be resolved within one year, in connection with improvements to
the building site. In early July the Company closed on new credit facilities
of approximately $4.5 million for   construction financing and $1.3 million
for land purchase and development associated with the new facility.   The
facility, including land, is anticipated to cost approximately $10.0
million.  On June 30, 1997, the Company was in compliance with the financial
and performance covenants on its various debt instruments and no balance was
outstanding on any of them.

In early July 1997, the Company completed a secondary offering of 1.5
million shares of its common stock.  As part of the offering, the Company
issued and sold 471,404 shares.  The underwriters also elected to exercise
their over allotment option for 225,000 additional shares which gave the
Company a total of 4,949,286 shares outstanding as of July 8, 1997.  Net
proceeds from the offering were approximately $10 million, which will result
in an increase in cash in the third quarter of 1997.

Management believes that results of operations, continued operational
planning review,  current cash balances, financing obtained for construction
of the new facility and proceeds from the stock offering will produce funds
necessary to meet its anticipated working capital requirements for the
current year.

The discussion above contains certain forward-looking statements as such
term is defined in the Private Securities Litigation Reform Act of 1995.
Company statements that are not historical facts, including statements about
management's expectations, beliefs, plans and objectives for 1997, are
forward-looking statements and involve various risks and uncertainties.
Factors that could cause the Company's actual results to differ materially
from management's estimates and expectations include, but are not limited
to, the following: changes in postal rates or the costs of paper; changes in
economic and market conditions; changes in the Company's merchandise product
mix or changes in the Company's customer response to advertising offers; the
Company's ability to complete construction and transfer to the Company's new
facilities by September 1997 thereby avoiding any material decrease in the
Company's efficiency at a time of the year when it historically has received
a significant portion of its orders and related sales; lack of effective
performance of customer service and the Company's order fulfillment system;
and changes in strategy and timing relating to the testing and rollout of
new catalogs.

PART II. OTHER INFORMATION

Item 4. Submission of Matters to a Vote of Security Holders.

	None.

Item 6. Exhibits and Reports on Form 8-K

	(a)	Exhibits:

		Documents filed as part of this report:

                Exhibit 10: Material Contracts

                     1.  Land Development Loan Agreement dated July 10,
                     1997 between registrant and Bank One, Colorado, NA
                     is filed herewith.

                     2.  Construction Loan Agreement dated July 10, 1997
                     between registrant and Bank One, Colorado, NA is filed
                     herewith.

                Exhibit 27:  Financial Data Schedule (Edgar filing only.)

		Registrant hereby agrees to furnish the Commission, upon
                request, with instruments defining the rights of holders of
                long-term debt of the registrant.

	(b)	Reports on Form 8-K

		There were no reports on Form 8-K for the fiscal quarter
                ended June 30, 1997.



	SIGNATURES


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 thereunto duly authorized.


CONCEPTS DIRECT, INC.
(registrant)



Date:  August 14, 1997     By: /s/ Phillip A. Wiland
                                  Phillip A. Wiland
                                  Chief Executive Officer

Date:  August 14, 1997     By: /s/ H. Franklin Marcus, Jr.
                                  H. Franklin Marcus, Jr.
                                  Chief Financial and Accounting Officer