SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q
                                QUARTERLY REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

For the Quarter Ended                                      Commission File No.
   JULY 31, 1999                                                0-10146
---------------------                                      -------------------

                             ABRAMS INDUSTRIES, INC.
             (Exact name of Registrant as specified in its charter)



          Georgia                                       58-0522129
-------------------------------           ------------------------------------
(State or other jurisdiction of           (I.R.S. Employer Identification No.)
incorporation or organization)


              1945 The Exchange, Suite 300, Atlanta, Georgia 30339
              ----------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                 (770) 953-0304
              ----------------------------------------------------
              (Registrant's telephone number, including area code)

                                       N/A
              ----------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)


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 / /

The  number  of  shares  of $1.00  par  value  Common  Stock  of the  Registrant
outstanding as of August 31, 1999, was 2,936,356.


<PAGE>
                                   PART 1. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
----------------------------

                                      ABRAMS INDUSTRIES, INC.
                                    CONSOLIDATED BALANCE SHEETS
                                            (UNAUDITED)
<TABLE>

                                                                  JULY 31, 1999     APRIL 30, 1999
                                                                  --------------    -------------
<CAPTION>
<S>                                                              <C>                <C>
ASSETS
CURRENT ASSETS
    Cash and cash equivalents                                    $   3,498,686      $   7,448,551
    Receivables (note 2)                                            29,657,498         31,402,635
          Less: Allowance for doubtful accounts                       (160,980)          (122,396)
    Inventories, net (note 3)                                        3,103,508          2,972,663
    Costs and earnings in excess of billings                         3,412,013          3,188,100
    Property held for sale                                           1,694,932          5,268,478
    Deferred income taxes                                              820,829            820,829
    Other                                                            1,053,977            599,715
                                                                 -------------      -------------
        Total current assets                                        43,080,463         51,578,575
                                                                 -------------      -------------

INCOME-PRODUCING PROPERTIES, net                                    61,050,562         52,311,607
PROPERTY, PLANT AND EQUIPMENT, net                                  12,269,307         12,368,396
LAND HELD FOR FUTURE DEVELOPMENT OR SALE                             4,204,441          4,237,845
OTHER ASSETS
    Notes receivable                                                   268,698            297,209
    Cash surrender value of life insurance on officers, net          1,502,163          1,473,963
    Deferred loan costs, net                                           877,673            788,356
    Other                                                            3,295,450          3,076,589
                                                                 -------------      -------------
                                                                 $ 126,548,757      $ 126,132,540
                                                                 =============      =============

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
    Trade and subcontractors payables                            $  20,750,267      $  18,391,697
    Billings in excess of costs and earnings                         3,314,480          2,947,814
    Accrued expenses                                                 2,873,854          5,202,597
    Deferred income                                                    796,913            225,888
    Short-term borrowings                                            1,357,708          8,048,222
    Current maturities of long-term debt                             1,714,483          6,876,455
                                                                 -------------      -------------
        Total current liabilities                                   30,807,705         41,692,673
                                                                 -------------      -------------

DEFERRED INCOME TAXES                                                3,849,809          2,910,771
OTHER LIABILITIES                                                    3,808,115          1,702,048
MORTGAGE NOTES PAYABLE, less current maturities                     34,680,123         27,447,977
OTHER LONG-TERM DEBT, less current maturities                       29,004,286         29,106,511
                                                                 -------------      -------------
        Total liabilities                                          102,150,038        102,859,980
                                                                 -------------      -------------

SHAREHOLDERS' EQUITY
    Common stock, $1 par value; authorized 5,000,000 shares;
      3,014,039 issued and 2,936,356 outstanding                     3,014,039          3,014,039
    Additional paid-in capital                                       2,019,690          2,019,690
    Retained earnings                                               19,777,541         18,651,382
                                                                 -------------      -------------
                                                                    24,811,270         23,685,111
         Less cost of treasury stock                                   412,551            412,551
                                                                 -------------      -------------
      Total shareholders' equity                                    24,398,719         23,272,560
                                                                 -------------      -------------
                                                                 $ 126,548,757      $ 126,132,540
                                                                 =============      =============
</TABLE>

See accompanying notes to consolidated financial statements.


<PAGE>
                                 ABRAMS INDUSTRIES, INC.
                           CONSOLIDATED STATEMENTS OF OPERATIONS
                                        (UNAUDITED)
<TABLE>

                                                                FIRST QUARTER ENDED
                                                                     JULY 31,
                                                          --------------------------------
                                                               1999               1998
                                                          -------------      -------------
<CAPTION>
<S>                                                        <C>               <C>
REVENUES
    Construction                                           $ 43,804,204      $ 47,152,931
    Manufacturing                                             4,332,121         2,532,136
    Real estate                                              10,026,252         3,269,997
                                                           ------------      ------------
                                                             58,162,577        52,955,064
        Less: Intersegment eliminations                        (413,543)       (1,214,257)
                                                           ------------      ------------
                                                             57,749,034        51,740,807
    Interest                                                     94,345           152,426
    Other                                                        62,068            10,706
                                                           ------------      ------------
                                                             57,905,447        51,903,939
                                                           ------------      ------------
COSTS AND EXPENSES
    Applicable to REVENUES--
      Construction                                           42,213,068        45,250,251
      Manufacturing                                           3,500,045         2,533,132
      Real estate, exclusive of interest                      5,753,851         1,754,390
                                                           ------------      ------------
                                                             51,466,964        49,537,773
        Less: Intersegment eliminations                        (463,474)       (1,170,374)
                                                           ------------      ------------
                                                             51,003,490        48,367,399
                                                           ------------      ------------
    Selling, shipping, general and administrative
      Construction                                              785,903           912,215
      Manufacturing                                           1,009,431         1,032,731
      Real estate                                               963,598           639,575
      Parent                                                  1,166,594           534,434
                                                           ------------      ------------
                                                              3,925,526         3,118,955
        Less: Intersegment eliminations                        (266,154)         (362,619)
                                                           ------------      ------------
                                                              3,659,372         2,756,336
                                                           ------------      ------------

    Interest costs incurred, less interest capitalized        1,248,638         1,263,219
                                                           ------------      ------------
                                                             55,911,500        52,386,954
                                                           ------------      ------------

EARNINGS (LOSS) BEFORE INCOME TAXES                           1,993,947          (483,015)

INCOME TAX EXPENSE (BENEFIT)                                    750,328          (176,000)
                                                           ------------      ------------

NET EARNINGS (LOSS)                                        $  1,243,619      $   (307,015)
                                                           ============      ============

NET EARNINGS (LOSS) PER SHARE -- BASIC AND DILUTED         $       0.42      $       (.10)
                                                           ============      ============
DIVIDENDS PER SHARE                                        $        .04      $        .05
                                                           ============      ============
WEIGHTED AVERAGE SHARES OUTSTANDING                           2,936,356         2,936,356
                                                           ============      ============
</TABLE>

See accompanying notes to consolidated financial statements.

<PAGE>
                                          ABRAMS INDUSTRIES, INC.
                                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                 (UNAUDITED)
<TABLE>

                                                                               FIRST QUARTER ENDED JULY 31,
                                                                             -------------------------------
                                                                                1999              1998
                                                                             -----------     ---------------
<CAPTION>
<S>                                                                          <C>              <C>
Cash flows from operating activities
    Net earnings (loss)                                                      $ 1,243,619      $   (307,015)
    Adjustments to reconcile net earnings to net cash
      provided by operating activities:
        Depreciation and amortization                                            820,592           780,725
        Deferred tax expense                                                     939,038              --
        Gain on sales of real estate and property, plant and equipment        (2,974,931)             --
        Decrease (increase) in assets
            Receivables                                                        1,783,720        (6,882,077)
            Inventories                                                         (130,845)         (260,909)
            Costs and earnings in excess of billings                            (223,913)        1,538,465
            Other current assets                                                (454,262)         (555,507)
            Other assets                                                        (218,493)         (250,896)
       Increase (decrease) in liabilities
            Accounts payable                                                   2,358,570         3,208,351
            Billings in excess of costs and earnings                             366,666           790,198
            Accrued expenses                                                  (2,328,743)       (3,956,290)
            Deferred income                                                      571,025              --
            Other liabilities                                                    223,111           154,917
                                                                             -----------      ------------
      Net cash provided by (used in) operating activities                      1,975,154        (5,740,038)
                                                                             -----------      ------------

Cash flows from investing activities:
    Proceeds from sales of real estate and property, plant and equipment       6,581,881              --
    Additions to properties, property, plant and equipment, net               (9,380,515)       (2,161,963)
                                                                             -----------      ------------
      Net cash used in investing activities                                   (2,798,634)       (2,161,963)
                                                                             -----------      ------------

Cash flows from financing activities:
    Net short-term borrowings                                                 (6,690,514)             --
    Debt proceeds                                                              9,500,000           380,472
    Debt repayments                                                           (5,649,095)         (587,285)
    Additions to deferred loan costs                                            (169,322)          (28,561)
    Cash dividends                                                              (117,454)         (146,818)
                                                                             -----------      ------------
      Net cash used in financing activities                                   (3,126,385)         (382,192)
                                                                             -----------      ------------

Net decrease in cash and cash equivalents                                     (3,949,865)       (8,284,193)
Cash and cash equivalents at beginning of period                               7,448,551        13,240,471
                                                                             -----------      ------------
Cash and cash equivalents at end of period                                   $ 3,498,686      $  4,956,278
                                                                             ===========      ============

Supplemental schedule of cash flow information:
    Interest paid, net of amounts capitalized                                $ 1,281,208      $  1,342,256
                                                                             ===========      ============
    Income taxes paid, net of refunds                                        $    34,847      $    116,101
                                                                             ===========      ============
</TABLE>

See accompanying notes to consolidated financial statements.


<PAGE>



                             ABRAMS INDUSTRIES, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                        JULY 31, 1999 AND APRIL 30, 1999
                                   (UNAUDITED)

NOTE 1.  UNAUDITED STATEMENTS
-----------------------------

       The accompanying  unaudited  consolidated  financial statements have been
prepared  by the  Company  in  accordance  with  generally  accepted  accounting
principles, pursuant to the rules and regulations of the Securities and Exchange
Commission.  Certain information and footnote  disclosures  normally included in
financial  statements have been condensed or omitted  pursuant to such rules and
regulations,  although  management believes that the disclosures are adequate to
make the information presented not misleading. In the opinion of management, the
accompanying financial statements contain all adjustments,  which consist solely
of normal recurring accruals,  necessary for a fair statement of the results for
the interim  periods  presented.  These financial  statements  should be read in
conjunction  with the  consolidated  financial  statements and the notes thereto
included in the Company's Annual Report to Shareholders for the year ended April
30,  1999.  Results  of  operations  for  interim  periods  are not  necessarily
indicative of annual results.

NOTE 2.  RECEIVABLES
--------------------

       All contract and trade  receivables  are expected to be collected  within
one year.

NOTE 3.  INVENTORIES
--------------------

       The classes of inventory are as follows:

                                        July 31, 1999         April 30, 1999
                                        -------------         --------------
     Finished goods                       $  848,280            $1,268,048
     Work in process                       1,227,634               845,495
     Raw materials                         1,027,594               859,120
                                           ---------            ----------
                                          $3,103,508            $2,972,663
                                          ==========            ==========


NOTE 4.  REAL ESTATE DISPOSITION AND ACQUISITION
------------------------------------------------


       In May 1999,  the Company  sold its  shopping  center  located in Newnan,
Georgia. The sale was structured as a tax-deferred,  like-kind exchange pursuant
to Internal  Revenue Code Section 1031,  which allows a deferral of the tax gain
if the Company  utilizes the proceeds of the sale to purchase  other real estate
within 180 days of the sale. The proceeds were used in July 1999, to purchase an
approximately  174,000  square foot  shopping  center  located in  Jacksonville,
Florida for  $9,000,000.  The purchase was also  financed  with cash held by the
Company, and the Company's lines of credit. Subsequently,  the Company closed on
a permanent  mortgage  loan secured by the property and used the proceeds to pay
back the lines of credit. The permanent loan, in the amount of $9,500,000, bears
interest at 7.375% and is scheduled  to be fully  amortized  over twenty  years.
Loan  proceeds  received  in  excess  of the  purchase  price  were  used to pay
financing  costs  and  are  available  for  use  for  tenant   improvements  and
commissions  on new  leases.  The loan may be called  at any time by the  lender
after  September 1, 2002. If the loan were called,  the Company would have up to
thirteen  months to prepay the loan without  penalty.  In  conjunction  with the
loan, an Additional Interest Agreement was executed which entitles the lender to
be paid  additional  interest  equal to fifty  percent of the quarterly net cash
flow  and  fifty  percent  of the  appreciation  in the  property  upon  sale or
refinance.

<PAGE>
ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        ------------------------------------------------------------------------
OF OPERATIONS.
-------------

Changes in  CONSOLIDATED  BALANCE  SHEETS  between April 30, 1999,  and July 31,
--------------------------------------------------------------------------------
1999.
-----

         Accounts   receivable   decreased   by   $1,745,137   and   Trade   and
subcontractors  payable increased by $2,358,570  primarily because of the timing
of the submission and payment of invoices for construction work performed.

         Property held for sale  decreased  $3,573,546  primarily as a result of
the sale of a shopping center in Newnan, Georgia.

       Income-producing  properties  increased  by  $8,738,955  primarily  as  a
result of the purchase of an  approximately  174,000 square foot shopping center
in Jacksonville,  Florida.  Publix Super Markets previously leased approximately
86,000 square feet of space in the center, which it has vacated, while remaining
fully obligated under its lease until August 2010.

       Short term borrowings decreased by $6,690,514 primarily due to repayments
on the lines of credit. On April 30,1999, in order to facilitate the sale of the
Newnan,  Georgia  shopping  center,  the Company drew $5,600,000 on the lines of
credit to have funds  available to pay the related  mortgage debt. This draw was
repaid in May 1999.

       Accrued  expenses  decreased  by  $2,328,743  because  of the  payment of
year-end accruals.

       Current maturities of long-term debt decreased by $5,161,972 primarily as
a result of the payoff of the related mortgage loan upon the sale of the Newnan,
Georgia shopping center.

       Deferred  income taxes  increased by $939,038  reflecting  the income tax
deferral  of the  gain  on  the  sale  of the  Newnan,  Georgia  property.  This
transaction was structured as a like-kind  exchange pursuant to Internal Revenue
Code Section 1031, which allows a deferral of the recognition of the tax gain if
the Company  utilizes  the  proceeds  of the sale to purchase  other real estate
within  180 days of the  sale.  Management  believes  it has  complied  with the
provisions of Internal Revenue Code Section 1031 and thus will defer federal tax
on the gain of this sale.

       Other  liabilities  (long-term)  increased by  $2,106,067  primarily as a
result of the participation liability related to the participating mortgage loan
placed on the newly acquired Jacksonville center discussed above.

       Mortgage  notes payable,  less current  maturities,  increased $7,232,146
primarily  as a  result  of the  placement  of the  loan on the  newly  acquired
shopping center in Jacksonville, Florida, as discussed above.



Results of  operations  of first  quarter  fiscal 2000 compared to first quarter
--------------------------------------------------------------------------------
fiscal 1999.
------------
                                    REVENUES

       For the first quarter 2000,  Consolidated  REVENUES,  including  Interest
income and Other income and net of intersegment eliminations,  were $57,905,447,
compared to $51,903,939 for the first quarter 1999, an increase of 12%.

       The  figures  in  Chart  A  are  Segment  revenues  before   Intersegment
eliminations and do not include Interest income or Other income.

<PAGE>
<TABLE>
                                               CHART A
                                      REVENUE SUMMARY BY SEGMENT
                                        (Dollars in Thousands)

                                      First Quarter Ended
                                            July 31,                        Amount         Percent
                                  --------------------------               Increase        Increase
                                    1999              1998                (Decrease)      (Decrease)
                                  --------          --------             -----------      ----------
<CAPTION>
<S>                               <C>               <C>                 <C>                  <C>
Construction <F1>                 $ 43,804          $ 47,153            $     (3,349)         (7)
Manufacturing <F2>                   4,332             2,532                   1,800          71
Real Estate <F3>                    10,027             3,270                   6,757         207
                                  --------          --------            ------------
                                  $ 58,163          $ 52,955            $      5,208          10
                                  ========          ========            ============




                                NOTES TO CHART A
<FN>

<F1>   REVENUES for first  quarter  2000 were lower than those of first  quarter
       1999  because of a decrease in sales to an existing  customer,  partially
       offset by an increase in sales to new and other existing customers.

<F2>   REVENUES for first  quarter  2000 were higher than those of first quarter
       1999 primarily  because of increased orders from two major customers.  In
       the first quarter 1999, the manufacturing  segment had a decline in sales
       orders during its move into its new facility.

<F3>   REVENUES for first  quarter 2000 were higher than those of first  quarter
       1999 primarily due to the sale of the Newnan,  Georgia  shopping  center.
       There were no real estate sales in first quarter 1999.
</FN>
</TABLE>

       The  following  table  indicates  the  backlog of  contracts,  orders and
expected rentals for the next twelve months by industry segment:


                                                     July 31
                                          ----------------------------
                                              1999              1998
                                          -----------      -----------
          Construction                    $50,778,000      $50,481,000
          Manufacturing                     9,614,000        4,180,000
          Real Estate                      11,154,000       10,278,000
                                          -----------      -----------
                  Total Backlog           $71,546,000      $64,939,000
                                          ===========      ===========


                   COSTS AND EXPENSES: Applicable to REVENUES

       As a percentage of Segment  REVENUES (See Chart A) for the first quarters
of fiscal years 2000 and 1999, the  applicable  COSTS AND EXPENSES (See Chart B)
were 88% and 94%, respectively.

         The figures in Chart B are prior to Intersegment eliminations.

<PAGE>
<TABLE>

                                                        CHART B
                             COSTS AND EXPENSES APPLICABLE TO REVENUES SUMMARY BY SEGMENT
                                                (Dollars in Thousands)
<CAPTION>
-
                                                                              Percent of Segment Revenues
                                           First Quarter Ended                  For First Quarter Ended
                                                 July 31,                              July 31,
                                       --------------------------            ----------------------------
                                          1999              1998               1999              1998
                                       ---------         --------             ------            ------
<S>                                      <C>             <C>                    <C>               <C>
Construction                             $42,213         $ 45,250               96                96
Manufacturing <F1>                         3,500            2,533               81               100
Real Estate <F2>                           5,754            1,755               57                54
                                         -------         --------
                                         $51,467         $ 49,538               88                94
                                         =======         ========


                                NOTES TO CHART B

<FN>
<F1>  The  decrease  in the  percentage  of COSTS AND  EXPENSES:  Applicable  to
      REVENUES for first  quarter 2000 compared to first quarter 1999 was due to
      an improvement in manufacturing efficiencies in the current  period  after
      experiencing  a disruption  in the prior year caused by the  relocation of
      the manufacturing facility.

<F2>  The increase in the dollar  amount of COSTS AND  EXPENSES:  Applicable  to
      REVENUES  for  first  quarter  2000  compared  to first  quarter  1999 was
      primarily attributable to the sale of the Newnan, Georgia shopping center.
</FN>
</TABLE>

             SELLING, SHIPPING, GENERAL AND ADMINISTRATIVE EXPENSES

       For the first quarter 2000 and the first quarter 1999, Selling, shipping,
general and administrative  expenses, prior to intersegment  eliminations,  were
$3,925,526  and  $3,118,955,  respectively.  As  a  percentage  of  Consolidated
REVENUES, these expenses were 7% and 6%, respectively. In reviewing Chart C, the
reader should  recognize  that the volume of revenues  generally will affect the
amounts and  percentages.  The percentages in Chart C are based upon expenses as
they relate to Segment  REVENUES (Chart A) prior to  Intersegment  eliminations,
except that Parent and Total expenses relate to Consolidated REVENUES.


<PAGE>
<TABLE>

                                                   CHART C
                      SELLING, SHIPPING, GENERAL AND ADMINISTRATIVE EXPENSES BY SEGMENT
                                           (Dollars in Thousands)

                                                                         Percent of Segment Revenues
                                       First Quarter Ended                 For First Quarter Ended
                                              July 31,                              July 31,
                                     -------------------------           ---------------------------
                                      1999                1998                1999            1998
                                     ------             ------               ------          ------
<S>                                  <C>                <C>                    <C>             <C>
Construction                         $  786             $  912                  2               2
Manufacturing                         1,009              1,033                 23              41
Real Estate  <F1>                       964                640                 10              20
Parent       <F2>                     1,167                534                  2               1
                                     ------             ------
                                     $3,926             $3,119                  7               6
                                     ======             ======

                                NOTES TO CHART C
<FN>
<F1>   On a dollar amount basis, Selling,  shipping,  general and administrative
       expenses  were higher for first  quarter 2000  compared to first  quarter
       1999 primarily because of an increase in incentive compensation.

<F2>   On  a  dollar  and  percentage  basis,  Selling,  shipping,  general  and
       administrative  expenses  were higher for first  quarter 2000 compared to
       first quarter 1999  primarily  because of (a) increased  rent expense and
       (b) the accrual of severance and consulting fees payable to the Company's
       former CEO. The  increase in rent expense was  primarily a result of rent
       reimbursements  paid by the  Parent  to the  manufacturing  segment.  The
       manufacturing  segment is paying rent on its  facility to the real estate
       segment,  the owner of the facility.  The Parent, upon receipt of payment
       from the real estate segment,  is reimbursing  part of the  manufacturing
       segment's  rental payment.  The  reimbursement is equal to the difference
       between the rental  expense and the debt service on the facility  paid by
       the real estate segment.
</FN>
</TABLE>

Liquidity and capital resources.
--------------------------------

       Between April 30, 1999, and July 31, 1999, working  capital  increased by
$2,386,856.   Operating  activities  provided  cash  of  $1,975,154.   Investing
activities  used cash of  $2,798,634  primarily for the purchase of the shopping
center in Jacksonville, Florida, which was partially offset by proceeds from the
sale of the Newnan,  Georgia shopping center.  Financing activities used cash of
$3,126,385  primarily for  repayments  on the Company's  lines of credit and the
payoff of the mortgage on the Newnan  center.  The proceeds of the mortgage loan
on the newly acquired Jacksonville center partially offset this usage of cash.

       At July  31,  1999,  the  Company  and  its  subsidiaries  had  available
unsecured committed lines of credit totaling $13,000,000,  of which $243,022 was
outstanding,  $12,256,978 was available,  and $500,000 was reserved for a letter
of  credit  issued  as  security  for a  mortgage  loan  on an  Income-producing
property.  The letter of credit has been extended  until November 2000, at which
time it  will  be  used  to pay  down  the  mortgage  loan  if  certain  leasing
requirements are not attained. In addition,  the Company has a committed line of
credit totaling $2,500,000, secured by the Manufacturing Segment's inventory and
receivables, of which $1,114,686 was outstanding.

<PAGE>

Year 2000
---------

       The Year 2000 has  presented a problem  for  companies  who use  computer
systems  that  were  developed  without the ability to  properly  recognize  and
process  data  relating  to the Year 2000 and beyond.  Such  systems may include
hardware,  software and other  telecommunications  information  systems (IT), as
well as computer systems that do not relate to information  technology,  such as
building  and other  ancillary  systems  (non-IT).  The  Company,  its  vendors,
suppliers,  and other  significant third party service providers are all exposed
to the  potential  disruption  of operations if such systems are not replaced or
remediated.

       The Company has  substantially  completed its assessment and  remediation
efforts for achieving  Year 2000  compliance in its IT and non-IT  systems.  All
computer   hardware  and  software  have  been   inventoried  and  tested.   The
Construction Segment has purchased a new Year 2000 compliant accounting software
package and upgraded its computer hardware system.  The cost of the software and
hardware and the  installation  thereof is not  considered  to be material.  The
Company  installed the new hardware and software  during the second quarter 1999
and began using it in the third quarter 1999. The  Manufacturing  Segment,  at a
nominal cost, upgraded its current accounting software to be Year 2000 compliant
in July 1999,  and the Real Estate  Segment's  accounting  software is Year 2000
compliant.  Other  non-compliant  hardware and software  review and  remediation
costs are considered to be minimal.

       The  Company  has  conducted  a  written  survey  of its  IT  and  non-IT
significant  third party vendors and service  providers to determine  their Year
2000 compliance  status.  The responses have indicated these  businesses will be
substantially  compliant on a timely basis. The Company,  however, cannot ensure
that various third parties with which it deals will be Year 2000 compliant.  The
failure of various third parties, such as banks, significant customers,  tenants
and  vendors  to become  Year 2000  compliant  on a timely  basis  could have an
adverse impact on the Company's business.

       Uncertainty  exists  concerning  the  scope  and  magnitude  of the  most
reasonably  likely  worst  case  scenario.  The  Company  has  not  developed  a
contingency  plan for dealing with any  catastrophic  failure of the government,
utility companies,  lending  institutions or other regulated agencies,  but will
consider the need for such if public or other information regarding the state of
readiness  of  these  entities  or other  significant  third  parties  indicates
imminent problems.

       There can be no  assurance  that the Company will be able to identify and
correct  all  aspects  of the  effect  of the Year  2000  issue on the  Company.
Management,  however,  does not  believe  that the Year  2000  issue  will  pose
significant  problems in its IT or non-IT  systems,  or that  resolution  of any
potential  problems with respect to these systems will have a material effect on
the  Company's  financial  condition  or  results  of  operations.  Readers  are
cautioned that  forward-looking  statements regarding Year 2000 issues should be
read in conjunction with the Company's disclosures under the heading "Cautionary
statement regarding forward-looking statements."


Cautionary statement regarding forward-looking statements.
----------------------------------------------------------

       Certain  statements  contained  or  incorporated  by  reference  in  this
Quarterly  Report  on  Form  10-Q,   including  without  limitation   statements
containing the words "believes,"  "anticipates," "expects," and words of similar
import,  are  forward-looking  statements  within  the  meaning  of the  federal
securities  laws.  Such  forward-looking  statements  involve  known and unknown
risks,  uncertainties  and other  matters  which may cause the  actual  results,
performance or achievements  of the Company to be materially  different from any
future  results,  performance  or  uncertainties  expressed  or  implied by such
forward-looking statements. Such risks, uncertainties and other matters include,
but are not limited to, Year 2000 compliance issues.

<PAGE>

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
-------------------------------------------------------------------

       Quantitative and qualitative disclosures about market risk were disclosed
as required in Form 10-K for fiscal year ended April 30, 1999. In July 1999, the
Company  entered into a mortgage loan  agreement  secured by the newly  acquired
Jacksonville  shopping center.  The permanent loan, in the amount of $9,500,000,
bears  interest at 7.375% and is  scheduled  to be fully  amortized  over twenty
years. The loan may be called at any time by the lender after September 1, 2002.
If the loan were called,  the Company would have up to thirteen months to prepay
the loan without penalty.  In conjunction with the loan, an Additional  Interest
Agreement was executed which entitles the lender to be paid additional  interest
equal to fifty  percent of the  quarterly net cash flow and fifty percent of the
appreciation in the property upon sale or refinance.

                           PART II. OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
-----------------------------------------

(a)   Exhibit 27 - Financial Data Schedule (For SEC Use Only).

(b)   The Registrant  has not filed any reports on form 8-K  during the  quarter
      ended July 31, 1999.



                                   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.




                                                        ABRAMS INDUSTRIES, INC.
                                                        -----------------------
                                                             (Registrant)


Date: September 13, 1999                                 /s/ Alan R. Abrams
      ------------------                               -----------------------
                                                         Alan R. Abrams
                                                        Chief Executive Officer



Date: September 13, 1999                                 /S/ Melinda S. Garrett
      ------------------                                -----------------------
                                                        Melinda S. Garrett
                                                        Chief Financial Officer