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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                   FORM 10-Q/A
                                QUARTERLY REPORT

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


For the quarter ended March 31, 1998       Commission file number 1-11013


                       SPECIALTY CHEMICAL RESOURCES, INC.
                       ----------------------------------
             (Exact name of registrant as specified in its charter)

              Delaware                              34-1366838
              --------                              ----------
             (State of incorporation)     (I.R.S. Employer I.D. No.)

                9055 S. Freeway Drive, Macedonia, Ohio          44056
                --------------------------------------         ------
               (Address of principal executive offices)      (Zip Code)

Registrant's telephone number, including area code:  (330) 468-1380
                                                     ---------------


         Indicate by a 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 twelve (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 ninety (90) days. Yes__X__ No_____.

         The number of outstanding shares of the registrant's common stock as of
April 27, 1998 was 3,882,261. The registrant has no other class of stock
outstanding.



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                       Specialty Chemical Resources, Inc.

                                   Form 10-Q/A

                      For the quarter ended March 31, 1998

                                      Index



Part I    Financial Information                                             Page


       Item 1.     Financial Statements.......................................3

                   Condensed Balance Sheets.................................3-4

                   Condensed Statements of Operations, 3 Months...............5

                   Condensed Statements of Cash Flows, 3 Months...............6

                   Notes to Financial Statements..............................7









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                          PART I. FINANCIAL INFORMATION


Item 1.  Financial Statements

                       Specialty Chemical Resources, Inc.

                            Condensed Balance Sheets


<TABLE>
<CAPTION>

                                                         March 31, 1998           December 31, 1997
                                                           (Unaudited)                 (Audited)
                                                           -----------                 ---------
<S>                                                      <C>                           <C>         
Current assets
    Cash and cash equivalents                            $      3,100                  $      3,100
  Accounts Receivables                                      5,447,097                     5,338,168
  Receivable - other                                          607,409                       343,657
  Inventories - LIFO                                        8,775,893                     8,944,905
  Prepaid expenses                                            487,491                       360,196
                                                         ------------                  ------------
 Total current assets                                      15,320,990                    14,990,026


Property, plant and equipment
    At cost                                                18,048,474                    17,740,267
    Less accumulated depreciation
     and amortization                                      (5,832,121)                   (5,536,789)
                                                         ------------                  ------------
                                                           12,216,353                    12,203,478

Other assets
    Goodwill                                                  887,299                       894,319
    Product formulation                                       621,830                       692,894
    Deferred financing costs                                  434,014                       435,117
    Other                                                     299,078                       302,044
                                                         ------------                  ------------
                                                            2,242,221                     2,324,374
                                                         ------------                  ------------


         Total assets                                    $ 29,779,564                  $ 29,517,878
                                                         ============                  ============

</TABLE>


See accompanying Notes to Financial Statements.





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                       Specialty Chemical Resources, Inc.

                      Condensed Balance Sheets (continued)

<TABLE>
<CAPTION>

                                                               March 31, 1998        December 31, 1997
                                                                (Unaudited)              (Audited)
                                                                -----------             ---------
<S>                                                            <C>                      <C>         
Current liabilities
    Current Maturities                                         $  1,070,119             $  1,057,497
    Accounts payable                                              6,495,923                6,893,119
    Accrued expenses                                                645,416                  624,759
                                                               ------------             ------------
         Total current liabilities                                8,211,458                8,575,375


Long-term obligations                                            16,544,208               15,445,820


Stockholders' equity
    Preferred stock - $.01 par value;
         authorized 1,996,500 shares
    Common Stock - $.10 par value;
         authorized 13,000,000 shares;
         issued 3,947,764 and
         3,947,764 shares respectively                              394,777                  394,777
    Additional paid in capital                                   41,935,125               41,935,125
    Less common stock in treasury,
         at cost; 65,500 shares                                    (118,722)                (118,722)
Accumulated deficit                                             (37,187,282)             (36,714,497)
                                                               ------------             ------------

                                                                  5,023,898                5,496,683
                                                               ------------             ------------

                                                               $ 29,779,564             $ 29,517,878
                                                               ============             ============

See accompanying Notes to Financial Statements.

</TABLE>










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                       Specialty Chemical Resources, Inc.

                       Condensed Statements of Operations
                                   (Unaudited)

                         For the 3 month periods ended:
<TABLE>
<CAPTION>

                                                           March 31, 1998               March 31, 1997
                                                           --------------               --------------

<S>                                                         <C>                          <C>         
Net Sales                                                   $ 10,071,986                 $ 10,197,079

Cost of Goods Sold                                             8,266,891                    8,168,782
                                                            ------------                 ------------

    Gross profit                                               1,805,095                    2,028,297

Selling, general and administrative
    Expenses                                                   1,776,882                    1,577,125
Amortization of intangibles                                      106,550                      258,961
                                                            ------------                 ------------

    Operating profit                                             (78,337)                     192,211

Other (income) expense
    Interest expense                                             394,448                      258,068
    Other                                                           - 0-                      (21,806)
                                                            ------------                 ------------
                                                                 394,448                      236,262
                                                            ------------                 ------------
         Earnings (loss) before income
         Taxes                                                  (472,785)                     (44,051)

Income taxes                                                        --                           --
                                                            ------------                 ------------

         Earnings (loss)                                    $   (472,785)                $    (44,051)
                                                            ============                 ============


Earnings (loss) per common share:                           $       (.12)                $       (.01)


Weighted average shares outstanding                            3,882,261                    3,882,102
</TABLE>

See accompanying Notes to Financial Statements.



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                       Specialty Chemical Resources, Inc.

                       Condensed Statements of Cash Flows
                                   (Unaudited)

                         For the 3 month periods ended:
<TABLE>
<CAPTION>


                                                              March 31, 1998       March 31, 1997
                                                              --------------       --------------

<S>                                                            <C>                   <C>         
Net cash provided by
    operating activities                                       $   (724,107)         $    758,112


Net cash (used) by
    investing activities                                           (326,903)             (166,274)

Cash flows from financing activities:
    Payments on revolver                                        (13,507,045)           (7,591,184)
    Proceeds from revolver                                       14,558,055             6,965,119
                                                               ------------          ------------

         Net cash provided (used) by
         financing activities                                     1,051,010              (626,065)
                                                               ------------          ------------

         Net increase (decrease) in cash
         and cash equivalents                                           -0-               (34,227)

Cash and cash equivalents at
    beginning of period                                               3,100               168,641
                                                               ------------          ------------

Cash and cash equivalents at end
    of period                                                  $      3,100          $    134,414
                                                               ============          ============

</TABLE>


See accompanying Notes to Financial Statements.








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                       Specialty Chemical Resources, Inc.

                          Notes to Financial Statements

Note A - Summary of Significant Accounting Policies

    The accompanying audited and unaudited financial statements have been
prepared in conformity with generally accepted accounting principles and all
adjustments are of a normal recurring nature and are, in the opinion of
management, necessary to present fairly the financial position of Specialty
Chemical Resources, Inc. (the Company) at December 31, 1997 and March 31, 1998
and the results of operations and cash flows for the interim periods ended March
31, 1998 and 1997.

    Any significant accounting policies employed in the preparation of the
financial statements are included in the Company's most recent Form 10-K.



Note B - Inventories

    Inventories are stated at the lower of cost or market determined by the
last-in, first-out (LIFO) method for raw materials and the first-in, first-out
(FIFO) method for finished goods.

    The Company's inventories consisted of the following at:
<TABLE>
<CAPTION>


                                                 March 31,           December 3l,
                                                   1998                  1997
                                                   ----                  ----

<S>                                             <C>                 <C>       
Raw materials                                   $5,160,522          $5,416,048
Finished goods                                   4,310,928           4,224,414
                                                ----------          ----------
     Total FIFO cost                             9,471,450           9,640,462

 Less: Excess of FIFO cost over
              LIFO                                 695,557             695,557
                                                ----------          ----------
     Total LIFO cost                            $8,775,893          $8,994,905
                                                ----------          ----------
</TABLE>



Note C - Legal Proceedings

    There have been no material changes in the status of legal proceedings
pending against the Company other than that which was reported on the Company's
most recent Form 10-K.




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                                   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.


         Specialty Chemical Resources, Inc.









         By:/s/ David F. Spink                                  January 18, 1999
         ---------------------
                  David F. Spink
                  Vice President, Chief Financial Officer,
                  Treasurer, and Asst. Secretary




















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