SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                    FORM 10-Q
                                                                                

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

For the quarterly period ended                 March 31, 1998                   

      

                         Commission File Number 1-5426.



                             THOMAS INDUSTRIES INC.                             

              (Exact name of registrant as specified in its charter)


         Delaware                                 61-0505332
(State or other jurisdiction of               (I.R.S. Employer
 incorporation or organization)              Identification No.)


4360 Brownsboro Road, Louisville, Kentucky                     40207
(Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code         502/893-4600       


                                  Not Applicable                             
(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 twelve 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 outstanding of issuer's Common Stock, $1 par value, as of
May 1, 1998, was 15,867,553 shares.


PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

<TABLE>

THOMAS INDUSTRIES INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(Dollars in Thousands Except Amounts Per Share)

<CAPTION>
                                                         Three Months Ended
                                                              March 31     
                                                          1998       1997

<S>                                                     <C>        <C>

Net sales                                               $141,924   $126,356
Cost of products sold                                     98,256     88,099 
               Gross profit                               43,668     38,257         


Other (income) expense:
  Selling, general, and
    administrative expenses                               33,772     30,363 
  Interest expense                                         1,480      1,625
  Other                                                       82        (84)  
Income before income taxes                                 8,334      6,353 
  Income tax provision                                     3,084      2,351  
               Net income                               $  5,250   $  4,002  


Per Common Share amounts:
  Net income per share 
    Basic                                                   $.33       $.25
    Diluted                                                 $.32       $.25
  Dividends declared per share                             $.075      $.067       

Weighted average number of shares outstanding 
  Basic                                                 15,864,291   15,818,603
  Diluted                                               16,405,187   16,160,044


See notes to condensed consolidated financial statements.

</TABLE>

<TABLE>
                     THOMAS INDUSTRIES INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                             (Dollars in Thousands)
<CAPTION>
                                                                           (Unaudited)
                                                                            March 31            December 31
ASSETS                                                                        1998                 1997*

<S>                                                                          <C>                  <C>

Current assets
  Cash and cash equivalents                                                 $ 14,304              $ 17,352
  Accounts receivable, less allowance
    (1998--$2,338; 1997--$2,046)                                              80,374                71,385
  Inventories:
    Finished products                                                         37,724                35,472
    Raw materials                                                             22,924                15,036  
    Work in process                                                           14,325                23,620
                                                                              74,973                74,128  
  Deferred income taxes                                                        6,548                 6,694  
  Other current assets                                                         7,502                 7,052
                            Total current assets                             183,701               176,611

Property, plant and equipment                                                158,285               154,977  
  Less accumulated depreciation and amortization                              78,547                74,780  
                                                                              79,738                80,197              
Intangible assets--less accumulated amortization                              55,758                56,333              
Other assets                                                                  14,756                14,498              
                                    Total assets                            $333,953              $327,639

LIABILITIES AND SHAREHOLDERS' EQUITY 
Current liabilities
  Notes payable                                                             $ 21,201              $  2,564  
  Accounts payable                                                            27,042                31,094              
  Other current liabilities                                                   38,434                42,835  
  Current portion of long-term debt                                            7,850                 7,860
                       Total current liabilities                              94,527                84,353  
Deferred income taxes                                                          8,761                 8,802  
Long-term debt (less current portion)                                         47,246                55,006  
Minimum pension liability                                                      2,448                 2,448  
Other long-term liabilities                                                    3,625                 3,625
                             Total liabilities                               156,607               154,234
Shareholders' equity
  Preferred Stock, $1 par value,
  3,000,000 shares authorized--none issued
  Common Stock, $1 par value
  Shares authorized:  60,000,000
  Shares issued: 1998--17,400,159; 1997--17,394,198                           17,400                17,394
  Capital surplus                                                            109,814               109,750
  Retained earnings                                                           72,593                68,533  
  Accumulated other comprehensive income                                      (5,261)               (5,060)
  Less cost of treasury shares:
    (1998--1,534,400; 1997--1,535,469)                                       (17,200)              (17,212)
                      Total shareholders' equity                             177,346               173,405
      Total liabilities and shareholders' equity                            $333,953              $327,639  
                                        
*Derived from the audited December 31, 1997, consolidated balance sheet.
 See notes to condensed consolidated financial statements.

</TABLE>

<TABLE>
                     THOMAS INDUSTRIES INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                             (Dollars in Thousands)
<CAPTION>
                                                                                  Three Months Ended
                                                                                        March 31
                                                                                 1998             1997

<S>                                                                             <C>              <C>

Cash flows from operating activities:
  Net income                                                                    $ 5,250          $ 4,002
  Reconciliation of net income to net cash
    used in operating activities:
       Depreciation and amortization                                              4,530            4,295
       Deferred income taxes                                                        110               69
       Provision for losses on accounts receivable                                  127               73
       (Gain) loss on asset disposal, net                                            (7)               0

       Changes in operating assets and liabilities,                                  
         net of effects of acquisitions and 
       dispositions:
              Accounts receivable                                                (9,184)          (2,850)
              Inventories                                                        (1,016)          (4,007)
              Other current assets                                                 (455)            (822)
              Accounts payable                                                   (4,023)          (4,767)
              Accrued expenses and other liabilities                             (4,254)            (626)
              Other                                                                (355)          (1,333)
                Net cash used in operating activities                            (9,277)          (5,966)

Cash flows from investing activities:
  Purchase of property, plant, and equipment                                     (3,700)          (3,950)
  Proceeds from sale of property, plant, and
    equipment                                                                        20               20
            Net cash used in investing activities                                (3,680)          (3,930)

Cash flows from financing activities:
  Proceeds from short-term debt, net                                             18,708            5,841
  Payments on long-term debt, net                                                (7,770)          (7,730)                          
  Dividends paid                                                                 (1,189)          (1,053)
  Other                                                                              82              151
           Net cash provided by (used in)
             financing activities                                                 9,831           (2,791)
  Effect of exchange rate changes on cash                                            78                0   
     
Decrease in cash and cash equivalents                                            (3,048)         (12,687)
                                           
Cash and cash equivalents at beginning of period                                 17,352           18,826

       Cash and cash equivalents at end of period                               $14,304          $ 6,139
                 


See notes to condensed consolidated financial statements.

</TABLE>

                     THOMAS INDUSTRIES INC. AND SUBSIDIARIES


NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


Note A - Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial reporting and with the instructions to Form 10-Q and Article 10-01 of
Regulation S-X.  Accordingly, they do not include all the information and
footnotes required by generally accepted accounting principles for complete
financial statements.

The results of operations for the three-month period ended March 31, 1998, are
not necessarily indicative of the results that may be expected for the year
ending December 31, 1998.  In the opinion of management, all adjustments
considered necessary for a fair presentation have been included.  For further
information, refer to the consolidated financial statements and footnotes
included in the Company's Annual Report on Form 10-K for the year ended December
31, 1997.


Note B - Contingencies

In the normal course of business, the Company is a party to legal proceedings
and claims.  When costs can be reasonably estimated, appropriate liabilities for
such matters are recorded.  While management currently believes the amount of
ultimate liability, if any, with respect to these actions will not materially
affect the financial position, results of operations, or liquidity of the
Company, the ultimate outcome of any litigation is uncertain.  Were an
unfavorable outcome to occur, the impact could be material to the Company.


Note C - Comprehensive Income

As of January 1, 1998, the Company adopted Statement of Financial Accounting
Standards No. 130, Reporting Comprehensive Income (SFAS 130).  SFAS 130
establishes new rules for the reporting and display of comprehensive income and
its components; however, the adoption of this Statement had no impact on the
Company's net income or shareholders' equity.  SFAS 130 requires unrealized
gains or losses on the Company's foreign currency translation and minimum
pension liability adjustments, which, prior to adoption, were reported
separately in shareholders' equity to be included in other comprehensive income.

During the first quarter of 1998 and 1997, total comprehensive income was
$5,049,000 and $2,602,000, respectively.

Disclosure of accumulated balances of other comprehensive income:

<TABLE>
<CAPTION>
                                                            Minimum           Foreign        Accumulated Other
                                                            Pension           Currency          Comprehensive
                                                           Liability        Translation             Income   

<S>                                                         <C>              <C>                 <C>

Beginning balance                                           ($473,000)       ($4,587,000)        ($5,060,000)
Current-year other comprehensive income                         --              (201,000)           (201,000)                 
Ending balance                                              ($473,000)       ($4,788,000)        ($5,261,000)

</TABLE>

Note D - Subsequent Event

On April 29, 1998, the Board of Directors of the Company unanimously approved a
definitive agreement whereby the Company would  contribute substantially all
of its lighting assets and related liabilities to a joint venture with The
Genlyte Group Incorporated.  Additional details are contained in the Company's
Form 8-K filed April 29, 1998.


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

Net sales during the first quarter ended March 31, 1998, increased 12.3% over
the first quarter 1997 to $141.9 million.  Net sales for the first quarter of
1998 were the highest for any first quarter in the Company's history.  Lighting
Segment sales increased 12.7% over the first quarter of 1997, as all product
groups within the Segment reported increases.  Compressor & Vacuum Pump Segment
sales were up 11.6% for the first quarter over 1997, due primarily to strength
in shipments to the medical market in North America.  

Net income for the first quarter of 1998, was $5.3 million or 31.2% higher than
the first quarter of 1997.  The Lighting Segment operating income improved due
to strength in the Outdoor and Accent Divisions.  Operating income for the
Compressor & Vacuum Pump Segment increased in the first quarter of 1998 due to
improvement primarily in the European Segment.  Lower interest expense also
contributed to the increase in net income as the Company continues to pay down
long-term debt.  

Cost of products sold as a percent of sales decreased to 69.2% in the 1998 first
quarter from 69.7% for the comparable 1997 period.  Gross margins in the
Lighting Segment in 1998 improved due to increased efficiencies and continued
implementation of cost containment programs.  Compressor and Vacuum Pump Segment
margins were slightly below prior year levels due principally to a less
favorable product mix.  

Selling, general, and administrative expense in the first quarter of 1998 was
$3.4 million higher compared to the prior-year first quarter.  SG&A expense as a
percent of net sales was 23.8% in 1998 compared to 24.0% in 1997.  In the
Lighting Segment, SG&A expense increased primarily due to additional selling,
commission, and shipping expenditures to support the higher sales volume.  SG&A 
expense  in  the  Compressor & Vacuum  Pump  Segment  increased  in 1998
primarily due to additional engineering and administrative expenditures to
support the higher sales volume.

Interest expense for the first three months of 1998 was 8.9% lower than the
comparable 1997 period.  A decrease in long-term debt was the primary cause for
the lower interest expense.  

Working capital of $89.2 million at March 31, 1998, was 3.4% lower than the
$92.3 million at December 31, 1997.  Accounts receivable at March 31, 1998,
increased by 12.6% since December 31, 1997, due to seasonal factors and the
increased sales volume.  The number of days sales in receivables at March 31,
1998, increased to 50.1 days from 48.3 days at December 31, 1997.  Inventory
increased 1.1% from December 31, 1997, to $75.0 million at March 31, 1998.
Inventory turnover at March 31, 1998, of 4.59 times per year improved slightly
from the December 31, 1997, level of 4.53 times per year.  The current ratio at
March 31, 1998, was 1.94 compared to 2.09 at December 31, 1997.  Certain loan
agreements of the Company include restrictions on working capital, operating
leases, tangible net worth, and the payment of cash dividends and stock
distributions.  Under the most restrictive of these arrangements, retained
earnings of  $44.4 million are not restricted at March 31, 1998.  

As of March 31, 1998, the Company had available credit of $11.7 million with
banks under short-term borrowing arrangements, $10.6 million of which was
unused, and a $30.0 million revolving line of credit that expires in 2002, which
was unused.  Anticipated funds from operations, along with available short-term
credit, are expected to be sufficient to meet cash requirements in the year
ahead.  Cash in excess of operating requirements will continue to be invested in
high grade, short-term securities. 

On April 29, 1998, the Board of Directors of the Company unanimously approved a
definitive agreement whereby the Company would contribute substantially all of
its lighting assets and related liabilities to a joint venture with The Genlyte
Group Incorporated.  Additional details are contained in the Company's Form 8-K
filed April 29, 1998. 


PART II.  OTHER INFORMATION

Item 5.   Other Information

On April 29, 1998, the Board of Directors of the Company unanimously approved a
definitive agreement whereby the Company would contribute substantially all of
its lighting assets and related liabilities to a joint venture with The Genlyte
Group Incorporated.  Additional details are contained in the Company's Form 8-K
filed April 29, 1998.

Item 6.   Exhibits and Reports on Form 8-K

        (a)   Exhibits

              (27)  Financial Data Schedule

        (b)   No reports on Form 8-K were filed during the quarter.

                                   SIGNATURE

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.

                                               THOMAS INDUSTRIES INC.
                                                    Registrant


                                       /s/ Phillip J. Stuecker
                                       Phillip J. Stuecker, Vice President and
                                         Chief Financial Officer

Date      May 13, 1998