UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549-1004

                                    FORM 10-Q

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

                  For the quarterly period ended March 31, 2006
                                                 --------------

                          Commission File Number 1-1031
                                                 ------

                               RONSON CORPORATION
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


           New Jersey                                            22-0743290
--------------------------------------------------------------------------------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)


       Corporate Park III-Campus Drive, P.O. Box 6707, Somerset, NJ 08875
       ------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (732) 469-8300
       ------------------------------------------------------------------
              (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 [_]

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in Rule 12b-2 of the Exchange Act). Yes [_] No [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [_] No [X]

As of May 1, 2006, there were 4,536,249 shares of the registrant's  common stock
outstanding.


<PAGE>


                               RONSON CORPORATION

                                 FORM 10-Q INDEX
                                 ---------------

                                                                            PAGE
                                                                            ----

PART I - FINANCIAL INFORMATION:

        ITEM 1 - FINANCIAL STATEMENTS:

               CONSOLIDATED BALANCE SHEETS:
                  MARCH 31, 2006 AND DECEMBER 31, 2005                        3

               CONSOLIDATED STATEMENTS OF OPERATIONS:
                  QUARTER ENDED MARCH 31, 2006 AND 2005                       4

               CONSOLIDATED STATEMENTS OF CASH FLOWS:
                  QUARTER ENDED MARCH 31, 2006 AND 2005                       5

               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                     6


        ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                   FINANCIAL CONDITION AND RESULTS OF OPERATIONS             12

        ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES
                   ABOUT MARKET RISK                                         15

        ITEM 4 - CONTROLS AND PROCEDURES                                     15


PART II - OTHER INFORMATION:

        ITEM 1 - LEGAL PROCEEDINGS                                           15

        ITEM 6 - EXHIBITS                                                    19

SIGNATURES                                                                   20

<PAGE>

PART 1 - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

              RONSON CORPORATION AND ITS WHOLLY OWNED SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                           ---------------------------
                            (in thousands of dollars)
<TABLE>
<CAPTION>

                                                              March 31,       December 31,
                                                                2006             2005
                                                             ------------    ------------
<S>                                                                   <C>             <C>
                                                              (unaudited)
                                     ASSETS
                                     ------
CURRENT ASSETS:
Cash and cash equivalents                                    $        697    $        414
Accounts receivable, net                                            2,166           1,832
Inventories:
 Finished goods                                                     1,722           1,625
 Work in process                                                        3              22
 Raw materials                                                        900             908
                                                             ------------    ------------
                                                                    2,625           2,555

Other current assets                                                1,969           1,072
                                                             ------------    ------------
            TOTAL CURRENT ASSETS                                    7,457           5,873

Property, plant and equipment, at cost:
 Land                                                                   6               6
 Buildings and improvements                                         5,399           5,374
 Machinery and equipment                                            6,560           6,515
 Construction in progress                                             631             555
                                                             ------------    ------------
                                                                   12,596          12,450
  Less accumulated depreciation and amortization                    8,483           8,335
                                                             ------------    ------------
                                                                    4,113           4,115

Other Assets                                                        2,643           2,666
                                                             ------------    ------------
                                                             $     14,213    $     12,654
                                                             ============    ============
                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------
CURRENT LIABILITIES:
Short-term debt                                              $      1,550    $      1,500
Current portion of long-term debt and leases                        1,526             407
Accounts payable                                                    2,763           2,134
Accrued expenses                                                    2,526           2,592
Deferred revenue                                                      957              --
                                                             ------------    ------------
            TOTAL CURRENT LIABILITIES                               9,322           6,633

Long-term debt and leases                                           1,247           2,468
Other long-term liabilities                                           248             249

STOCKHOLDERS' EQUITY:
 Common stock                                                       4,617           4,617
 Additional paid-in capital                                        29,712          29,724
 Accumulated deficit                                              (27,817)        (27,895)
 Accumulated other comprehensive loss                              (1,519)         (1,545)
                                                             ------------    ------------
                                                                    4,993           4,901
 Less cost of treasury shares                                       1,597           1,597
                                                             ------------    ------------
            TOTAL STOCKHOLDERS' EQUITY                              3,396           3,304
                                                             ------------    ------------
                                                             $     14,213    $     12,654
                                                             ============    ============
</TABLE>

                                       3

See note to consolidated financial statements.

<PAGE>

               RONSON CORPORATION AND ITS WHOLLY OWNED SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      -------------------------------------
                (in thousands of dollars, except per share data)
                                   (Unaudited)

                                                              Quarter Ended
                                                               March 31,
                                                         ----------------------
                                                           2006           2005
                                                         -------        -------

NET SALES                                                $ 7,342        $ 6,437
                                                         -------        -------

Cost and expenses:
 Cost of sales                                             4,988          4,290
 Selling, shipping and advertising                           918            912
 General and administrative                                  963            982
 Depreciation and amortization                               153            219
 Other charges                                                30             --
                                                         -------        -------
                                                           7,052          6,403
                                                         -------        -------

EARNINGS FROM OPERATIONS                                     290             34
                                                         -------        -------

Other expense:
 Interest expense                                            101             99
 Other-net                                                    58             76
                                                         -------        -------
                                                             159            175
                                                         -------        -------

EARNINGS (LOSS) BEFORE INCOME TAXES                          131           (141)

Income tax provision (benefit)                                53            (53)
                                                         -------        -------

NET EARNINGS (LOSS)                                      $    78        $   (88)
                                                         =======        =======


EARNINGS (LOSS) PER COMMON SHARE:

    Basic                                                $  0.02        $ (0.02)
                                                         =======        =======

    Diluted                                              $  0.02        $ (0.02)
                                                         =======        =======

                                       4

See note to consolidated financial statements.

<PAGE>
<TABLE>
<CAPTION>

              RONSON CORPORATION AND ITS WHOLLY OWNED SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      -------------------------------------
                            (in thousands of dollars)
                                   (Unaudited)
                                                                   Quarter Ended
                                                                     March 31,
                                                               ---------------------
                                                                 2006         2005
                                                                 ----         ----
<S>                                                                <C>         <C>
Cash Flows from Operating Activities:
Net earnings (loss)                                            $     78    $    (88)
Adjustments to reconcile net earnings (loss) to
 net cash provided by operating activities:
 Depreciation and amortization                                      153         219
 Deferred income tax expense (benefit)                               16         (59)
 Increase (decrease) in cash from changes in:
  Current assets and current liabilities                            487         302
  Other non-current assets and other long-term
   liabilities                                                      (19)         16
 Net change in pension-related accounts                            (203)       (214)
 Effect of exchange rate changes                                    (18)         (4)
                                                               --------    --------
              Net cash provided by operating activities             494         172
                                                               --------    --------

Cash Flows from Investing Activities:
              Net cash used in investing activities,
               capital expenditures                                (147)       (234)
                                                               --------    --------

Cash Flows from Financing Activities:
Proceeds from short-term debt                                       250          --
Payments of short-term debt                                        (200)       (131)
Payments of long-term debt                                          (39)        (84)
Payments of long-term lease obligations                             (63)        (62)
Payments of dividends                                                --         (41)
Cost of stock option agreement                                      (12)        (12)
                                                               --------    --------
              Net cash used in financing activities                 (64)       (330)
                                                               --------    --------

Net increase (decrease)in cash and cash equivalents                 283        (392)

Cash and cash equivalents at beginning of period                    414         599
                                                               --------    --------

Cash and cash equivalents at end of period                     $    697    $    207
                                                               ========    ========
</TABLE>


                                       5

See note to consolidated financial statements.

<PAGE>

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------
                FOR THE QUARTER ENDED MARCH 31, 2006 (UNAUDITED)
                ------------------------------------------------

Note 1:  ACCOUNTING POLICIES
         -------------------

       Basis of Financial Statement Presentation - The information as of and for
the three month  periods  ended March 31, 2006 and 2005,  is  unaudited.  In the
opinion of management,  all  adjustments  (consisting  only of normal  recurring
adjustments)  necessary for a fair  presentation  of the results of such interim
periods have been included.

       This quarterly  report should be read in  conjunction  with the Company's
Annual Report on Form 10-K.

       Certain  reclassifications  of prior  year's  amounts  have  been made to
conform with the current year's presentation.

       New  Authoritative  Accounting  Pronouncements  - The  Company  does  not
anticipate the adoption of recently issued  accounting  pronouncements to have a
significant impact on the Company's results of operations, financial position or
cash flows.

Note 2:  PER COMMON SHARE DATA
         ---------------------

       The calculation and  reconciliation  of Basic and Diluted Earnings (Loss)
per Common Share were as follows (in thousands except per share data):

<TABLE>
<CAPTION>
                                          Quarter Ended March 31,
                                  2006                             2005
                     ------------------------------   -------------------------------
                                             Per                               Per
                                            Share                             Share
                     Earnings    Shares     Amount      Loss      Shares(2)   Amount
                     --------   --------   --------   --------    --------   --------
<S>                  <C>           <C>     <C>        <C>            <C>     <C>

     BASIC           $     78      4,536   $    .02   $    (88)      4,321   $   (.02)
                     ========              ========   ========               ========

Effect of dilutive
     securities:
     Stock options (1)                51
                                --------

     DILUTED         $     78      4,587   $    .02   $    (88)      4,321   $   (.02)
                     ========   ========   ========   ========    ========   ========
</TABLE>

       (1)    Stock options were anti-dilutive for the three months ended March
              31, 2005, and, therefore, were excluded from the computation and
              reconciliation of Diluted Earnings (Loss) per Common Share for
              that period.

       (2)    Information as to the number of shares and per share amounts has
              been retroactively adjusted to reflect the 5% stock dividend on
              common stock declared February 23, 2006.

Note 3:  SHORT-TERM DEBT
         ---------------

       In 1995 Ronson Consumer  Products  Corporation  ("RCPC")  entered into an
agreement with Bank of America for a Revolving Loan, now extended to January 31,
2007.  The  Revolving  Loan  with a balance  of  $1,550,000  at March 31,  2006,
provides a line of credit up to $2,500,000 to RCPC based on accounts  receivable
and inventory.

       In 1995 Ronson Corporation of Canada Ltd.  ("Ronson-Canada") entered into
an agreement  with  Canadian  Imperial  Bank of Commerce  ("CIBC") for a line of
credit of C$250,000.  Ronson-Canada's  line of credit is secured by its accounts
receivable

                                       6
<PAGE>

and inventory. At March 31, 2006, Ronson-Canada utilized no borrowings under the
Revolving Loan.

       In  1997  Ronson  Aviation,  Inc.  ("Ronson  Aviation")  entered  into an
agreement with Bank of America for a Revolving Loan. The Revolving Loan provides
a line of credit up to  $500,000  to Ronson  Aviation  based on the level of its
accounts  receivable.  At March 31, 2006, Ronson Aviation utilized no borrowings
under the Revolving Loan.

Note 4:  LONG-TERM DEBT
         --------------

       On December 1, 2003,  the Company,  RCPC and Bank of America  amended the
Company's  Mortgage  Loan,  extending  the  expiration  to December 1, 2008.  On
January 11,  2006,  the Company,  RCPC and Bank of America  amended the mortgage
loan to expire  January 31, 2007.  The Mortgage  Loan balance was  $1,216,000 at
March 31, 2006.  The Mortgage Loan  agreement is secured by a first  mortgage on
the  land,  buildings  and  improvements  of RCPC,  and is  payable  in  monthly
installments of $7,951,  plus interest,  with a final installment on January 31,
2007, of approximately  $1,137,000.  The loan bears interest at the rate of 0.5%
above Bank of America's prime rate.

       In March 2004 a lease agreement became effective for a warehouse facility
utilized by RCPC for finished goods storage and product shipments. In connection
with the lease,  the  landlord  provided  improvements  totaling  $440,000.  The
landlord  provided  RCPC with a  long-term  loan for the  improvements,  bearing
interest at 8.25%, payable at $4,800 per month, including interest, with a final
payment of $150,000 due at the end of the initial nine-year term, and secured by
a letter of  credit in the  amount of  $150,000.  At March 31,  2006,  the total
balance payable on this lease agreement was $391,000.

Note 5:  CONTINGENCIES
         -------------

       In December 1989 the Company adopted a plan to discontinue the operations
of its wholly owned subsidiary, Ronson Metals Corporation,  subsequently renamed
Prometcor, Inc. ("Prometcor"). Upon the cessation of operations, Prometcor began
its compliance with the  environmental  requirements of all applicable laws with
the  objective  of selling  the  property  previously  used in the  discontinued
operations.  The  full  extent  of the  costs  and  the  time  required  for the
completion is not determinable  until the remediation,  if any is required,  and
confirmatory  testing  related to the  remaining  groundwater  matter  have been
completed and accepted by the New Jersey Department of Environmental  Protection
("NJDEP").  The liability for these  estimated costs and expenses as recorded in
the  financial   statements  at  March  31,  2006  and  December  31,  2005  was
approximately  $500,000  based  on the  lower  limit  of the  range  of costs as
projected by the Company and its  consultants.  The estimated upper limit of the
range of costs is discounted at approximately $600,000 above the lower limit.

       In 1999  Ronson  Aviation  completed  the  installation  of a new fueling
facility and ceased use of most of its former  underground  storage  tanks.  The
primary  underground  fuel storage tanks  formerly used by Ronson  Aviation were
removed  in 1999 as  required  by the New  Jersey  Department  of  Environmental
Protection ("NJDEP").  Related contaminated soil was removed and remediated.  In
2000 initial groundwater tests were completed.  Ronson Aviation's  environmental
consultants  have  advised  the  Company  that the  preliminary  results of that
testing  indicated

                                       7
<PAGE>

that no further actions should be required. The extent of groundwater
contamination cannot be determined until final testing has been completed and
accepted by the NJDEP. The Company intends to vigorously pursue its rights under
the leasehold and under the statutory and regulatory requirements. Since the
amount of additional costs, if any, and their ultimate allocation cannot be
fully determined at this time, the effect on the Company's financial position or
results of future operations cannot yet be determined, but management believes
that the effect will not be material.

       The Company is involved in a shareholder derivative lawsuit filed in 2003
and a second lawsuit against the Company's directors and chief financial officer
filed in  April  2005,  both  filed by the same  shareholder.  The  Company  has
incurred a total of  approximately  $730,000 in net legal  costs  related to the
matter in 2003,  2004, 2005, and in the three months ended March 31, 2006. These
costs are net of the associated insurance  reimbursements.  The Company believes
that its directors' and officers'  liability  insurance  coverage is adequate to
meet the future direct costs of the litigation, however, the Company is not able
to estimate, at this time, the extent to which it will incur additional legal or
other expenses, which may be substantial, in connection with these proceedings.

Note 6:  INDUSTRY SEGMENTS INFORMATION
         -----------------------------

       The Company has two reportable  segments:  consumer products and aviation
services.  The Company's  reportable  segments are strategic business units that
offer different products and services.


                                       8
<PAGE>

Financial information by industry segment is summarized below (in thousands):

                                              Quarter Ended
                                                March 31,
                                           ------------------
                                             2006       2005
                                           -------    -------
Net sales:
  Consumer Products                        $ 4,176    $ 3,915
  Aviation Services                          3,166      2,522
                                           -------    -------

 Consolidated                              $ 7,342    $ 6,437
                                           =======    =======
Earnings from operations:
  Consumer Products                        $   383    $   244
  Aviation Services                            356        253
                                           -------    -------

  Total reportable segments                    739        497
  Corporate and others                        (419)      (463)
  Other charges                                (30)        --
                                           -------    -------

  Consolidated                             $   290    $    34
                                           =======    =======

Earnings (loss) before
  intercompany charges and
  income taxes:
  Consumer Products                        $   340    $   189
  Aviation Services                            357        244
                                           -------    -------

Total reportable segments                      697        433
  Corporate and others                        (536)      (574)
  Other charges                                (30)        --
                                           -------    -------

Consolidated                               $   131    $  (141)
                                           =======    =======

Note 7:  COMPREHENSIVE INCOME
         --------------------

       Comprehensive  Income  is the  change  in  equity  during a  period  from
transactions and other events from non-owner sources. The Company is required to
classify  items of other  comprehensive  income in financial  statements  and to
display the accumulated balance of other comprehensive  (income) loss separately
in the equity section of the Consolidated Balance Sheets.


                                       9
<PAGE>

       Changes in the  components  of Other  Comprehensive  (Income) Loss and in
Accumulated Other Comprehensive Loss were as follows (in thousands):

<TABLE>
<CAPTION>
                                          Quarter Ended March 31, 2006 and 2005
                                          -------------------------------------
                             Foreign Currency    Minimum        Cash Flow   Accumulated Other
                                Translation      Pension         Hedging      Comprehensive
                                Adjustments     Liability       Adjustments       Loss
                               ------------    ------------    ------------    ------------
<S>                                     <C>              <C>              <C>            <C>
Balance at December 31, 2005   $        (61)   $      1,619    $        (13)   $      1,545
Current period change                    30             (64)            (10)            (44)
Income tax expense                      (12)             26               4              18
                               ------------    ------------    ------------    ------------

Balance at March 31, 2006      $        (43)   $      1,581    $        (19)   $      1,519
                               ============    ============    ============    ============


Balance at December 31, 2004   $        (51)   $      1,482    $         10    $      1,441
Current period change                     6             (56)            (27)            (77)
Income tax expense                       (2)             22              10              30
                               ------------    ------------    ------------    ------------

Balance at March 31, 2005      $        (47)   $      1,448    $         (7)   $      1,394
                               ============    ============    ============    ============
</TABLE>

Note 8:  STATEMENTS OF CASH FLOWS
         ------------------------

       Certificates  of deposit  that have a  maturity  of less than 90 days are
considered  cash  equivalents  for  purposes  of the  accompanying  Consolidated
Statements of Cash Flows.

    Supplemental  disclosures  of  cash  flow  information  are as  follows  (in
thousands):

                                                      Quarter Ended
                                                        March 31,
                                                     ---------------
                                                      2006     2005
                                                     ------   ------
Cash Payments for:
 Interest                                            $   92   $   91
 Income Taxes                                            --       --
Financing & Investing Activities
 Not Affecting Cash:
 Capital lease obligations incurred                      --       64

Note 9:  RETIREMENT PLANS
         ----------------

      The  Company's  Consolidated  Statements of  Operations  included  pension
expense consisting of the following components (in thousands):

                                      Quarter Ended
                                       March 31,
                                 --------------------
                                   2006        2005
                                 --------    --------
Service cost                     $      8    $      6
Interest cost                          66          66
Expected return on plan assets        (48)        (48)
Recognized actuarial losses            64          56
Recognized prior service cost           2           2
                                 --------    --------
  Net pension expense            $     92    $     84
                                 ========    ========

                                       10
<PAGE>

Contributions  to the  pension  plan  during  2006 are  expected  as follows (in
thousands):

       Paid in the three months ended March 31, 2006                    $ 289
       Expected to be paid in the balance of 2006                         451
                                                                        -----

       Total expected to be paid in the year ending December 31, 2006   $ 740
                                                                        =====

Note 10:  FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS
          ----------------------------------------------

       In December 2003 the Company entered into an interest rate swap agreement
in order to manage interest rate exposure.  Effectively,  the Company  converted
its  Mortgage  Loan payable of  variable-rate  debt to  fixed-rate  debt with an
effective  interest  rate of 7.45%.  The interest rate swap is considered a cash
flow hedge and is 100% effective.  As a result, the mark-to-market value of both
the fair  value  hedging  instrument  and the  underlying  debt  obligation  are
recorded as equal and offsetting gains or losses in other expense.  At March 31,
2006,  the  interest  rate swap had a fair  value of $32,000  recorded  in Other
Assets with the  corresponding  adjustment to  Accumulated  Other  Comprehensive
Loss.  The fair value of the interest  rate swap  agreement,  obtained  from the
financial institution,  is based on current rates of interest and is computed as
the net present value of the remaining  exchange  obligations under the terms of
the contract.

       Mr.  Carl W.  Dinger III has granted an option to the Company to purchase
the  535,222  shares now held by Mr.  Dinger at an  exercise  price of $5.90 per
share.  The cost of the  option is $4,000 per month for the period of the option
or until  exercised.  At  March  31,  2006,  the fair  value of the  option  was
approximately  $502,000,  using the  Black-Scholes  option  pricing  model.  Key
assumptions  included:  a risk-free  interest rate of 4.80%, a dividend yield of
0.00%, volatility of 63.8%, and the option life of 1.25 years. The fair value of
$502,000  compares to $57,000,  the present  value of the 15 remaining  payments
under the contract,  discounted at the Company's  incremental  borrowing rate of
8.0%. (Refer to Note 14 of Notes to Consolidated  Financial  Statements included
in the  Company's  Annual  Report on Form 10-K for the year ended  December  31,
2005.)


                                       11
<PAGE>

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

       First Quarter 2006 Compared to First Quarter 2005.

       The  Company's  Net Sales  increased  by 14% to  $7,342,000  in the first
quarter of 2006 as  compared to  $6,437,000  in the first  quarter of 2005.  Net
Sales  increased  at  both  Ronson  Consumer  Products  Corporation  and  Ronson
Aviation, Inc., the Company's wholly-owned subsidiaries.

       The  Company's  Earnings  from  Operations  in the first  quarter of 2006
improved to $290,000  from $34,000 in the first  quarter of 2005, an increase of
$256,000.

     The  Company's  Net Earnings of $78,000 in the first quarter of 2006 were a
reversal from a Net Loss of $88,000 in the first quarter of 2005, an improvement
of $166,000.

Ronson Consumer Products
------------------------
(in thousands)

                                       Quarter Ended
                                         March 31,
                                      ---------------
                                       2006     2005
                                      ------   ------
Net sales                             $4,176   $3,915
Earnings from operations                 383      244
Earnings before income taxes
           and intercompany charges      340      189

       Net Sales of consumer  products at Ronson Consumer  Products  Corporation
("RCPC"),  Woodbridge,  New  Jersey,  and  Ronson  Corporation  of  Canada  Ltd.
("Ronson-Canada"),  Mississauga,  Ontario, (together "Ronson Consumer Products")
increased by 7% in the first quarter of 2006 as compared to the first quarter of
2005,  primarily  due to  increased  sales of the  Company's  Jet Lite and Comet
lighters.  This increase of 7% consisted of an increase of about % due to higher
average net selling prices and an increase of about ___% due to higher volume of
products sold.

       Cost of Sales, as a percentage of Net Sales, at Ronson Consumer  Products
decreased to 59% in the first  quarter of 2006 from 60% in the first  quarter of
2005 due primarily to increased  volume of products sold. The amount of the Cost
of Sales  increased by about 5%,  consisting  of an increase of ___% in the unit
costs of  products  sold due  primarily  to higher  cost of fuels as a result of
higher oil prices and related raw  materials,  and by an increase of ___% due to
higher sales volume.

       Selling, Shipping and Advertising Expense at Ronson Consumer Products, as
a percentage  of Net Sales,  decreased to 22% in the first  quarter of 2006 from
23% in the first quarter of 2005  primarily  due to the  increased  sales in the
first quarter of 2006. General and Administrative  Expenses,  as a percentage of
Net Sales, were 8% in the first quarters of both 2006 and 2005.

                                       12
<PAGE>

Ronson Aviation
---------------
 (in thousands)
                                       Quarter Ended
                                         March 31,
                                      ---------------
                                       2006     2005
                                      ------   ------
Net sales                             $3,166   $2,522
Earnings from operations                 356      253
Earnings before income taxes
           and intercompany charges      357      244

       Net Sales at Ronson Aviation,  Inc.  ("Ronson  Aviation"),  Trenton,  New
Jersey,  increased by 26% in the first quarter of 2006 from the first quarter of
2005 primarily due to the sale of an aircraft in the first quarter of 2006 (none
in the first quarter of 2005).

       Ronson Aviation's Cost of Sales, as a percentage of Net Sales,  increased
to 80% in the first quarter of 2006 from 77% in the first  quarter of 2005.  The
increase in the Cost of Sales  percentage  in 2006 was primarily due to a change
in the mix of products sold and to increased  cost of fuel due to increased cost
of oil.

       Ronson Aviation's Selling,  Shipping and Advertising Expenses and General
and  Administrative  Expenses  were  reduced to 8% in the first  quarter of 2006
compared to 9% in the first quarter of 2005 primarily due to the increased sales
in 2006.

Other Items
-----------

       The Other  Charges in the first quarter of 2006 of $30,000 were the legal
fees incurred related to stockholder litigation.  (Refer to Item 1 of Part II of
this Form 10-Q.)

FINANCIAL CONDITION

       The Company's  Stockholders'  Equity increased to $3,396,000 at March 31,
2006,  from  $3,304,000  at  December  31,  2005.  The  increase  of  $92,000 in
Stockholders'  Equity was primarily due to the Net Earnings in the first quarter
of 2006. The Company had a deficiency in working  capital of $1,865,000 at March
31, 2006,  as compared to $760,000 at December 31, 2005.  The decline in working
capital was primarily due to the  classification as Current Portion of Long-term
Debt of $1,145,000 from Long-term Debt at March 31, 2006, because of the January
31, 2007 due date of RCPC's mortgage loan with Bank of America.

       The Bank of America  lines of credit  with RCPC and Ronson  Aviation  had
been  scheduled  to expire on December 31,  2005.  On January 11, 2006,  Bank of
America and the Company  extended these lines of credit to January 31, 2007. The
extension  included a covenant  providing  for a minimum  consolidated  earnings
before interest, taxes, depreciation,  and amortization ("EBITDA"), and for fees
payable to the bank monthly  beginning  February  28, 2006,  if the loans remain
outstanding  at the end of the  month.  Bank of America  and the  Company do not
expect a further  extension  of the lines of credit.  The  Company  is  actively
engaged in  discussions  with other  financial  institutions  to replace Bank of
America  as the  Company's  primary  lender  in the  next  several  months.  The
extension  agreement also provided that the expiration date of the mortgage loan
between  Bank of America  and RCPC,  which had been due to expire on December 1,
2008,  was changed to January 31, 2007 to coincide with the  expiration  date of
the lines of credit.  The Company expects that the new financing being discussed
will include a new long-term  mortgage loan. This will

                                       13
<PAGE>

provide an improvement in working capital by the amount of the mortgage due in
over one year, reversing the reduction in working capital of $1,145,000
discussed above.

       Based on the amount of the loans  outstanding  and the levels of accounts
receivable and inventory at March 31, 2006,  Ronson Consumer Products had unused
borrowings  available  at March  31,  2006 of about  $234,000  under the Bank of
America and Canadian  Imperial  Bank of Commerce  lines of credit.  Based on the
level of accounts  receivable,  Ronson  Aviation had unused  borrowings of about
$282,000 under the Bank of America line of credit at March 31, 2006.

       In the first quarter of 2006,  Ronson Consumer  Products shipped Ronsonol
lighter fluid and Multi-Fill  butane fuel to a customer in the People's Republic
of China. The shipment arrived in April 2006.  Therefore,  the sale of $957,000,
related  costs,  and  profit  contribution  will be  included  in the  Company's
Statements of  Operations  in the second  quarter of 2006. At March 31, 2006 the
amount of this sale is classified as Deferred Revenue in Current Liabilities and
the cost of the goods is included in Other Current Assets.

       In the first quarter of 2006, the Company's  Accounts  Payable  increased
primarily due to materials purchased to fill consumer products orders and due to
cash of  $289,000  required  to meet  required  contributions  to the  Company's
defined benefit pension plan.

       On February  23, 2006,  the  Company's  Board of Directors  declared a 5%
stock dividend on the Company's  common stock.  The 5% stock dividend was issued
on April 15, 2006, to  stockholders  of record April 1, 2006.  Information as to
the number of shares and per share  amounts has been  retroactively  adjusted to
reflect this stock dividend.

       The Company has  continued to meet its  obligations  as they have matured
and management  believes that the Company will continue to meet its  obligations
through  internally  generated funds from future net earnings and  depreciation,
established  external financial  arrangements,  potential  additional sources of
financing and existing cash balances.

FORWARD-LOOKING STATEMENTS

       This  Management's  Discussion  and Analysis of Financial  Condition  and
Results of Operations and other sections of this report contain  forward-looking
statements that involve risks and uncertainties, as well as assumptions that, if
they  never  materialize  or prove  incorrect,  could  cause the  results of the
Company  to  differ   materially   from  those  expressed  or  implied  by  such
forward-looking  statements.  All statements other than statements of historical
fact are statements that could be deemed forward-looking  statements,  including
any projections of earnings,  revenue,  margins, costs or other financial items;
any statements of the plans,  strategies and objectives of management for future
operations; any statement concerning new products, services or developments; any
statements  regarding future economic conditions or performance;  any statements
of belief;  and any statements of  assumptions  underlying any of the foregoing.
The risks,  uncertainties and assumptions  referred to above include the success
of new  products;  competition;  prices  of key  materials,  such  as  petroleum
products;  the challenge of managing  asset  levels,  including  inventory;  the
difficulty of aligning expense levels with revenue changes; assumptions relating
to  pension  costs;  and other  risks  that are  described  herein  and that are
otherwise  described from time to time in the

                                       14
<PAGE>

Company's Securities and Exchange Commission reports. The Company assumes no
obligation and does not intend to update these forward-looking statements.


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

       There has been no significant  change in the Company's exposure to market
risk during the first three  months of 2006.  For  discussion  of the  Company's
exposure  to  market  risk,  refer  to Item  7A,  Quantitative  and  Qualitative
Disclosure  about Market Risk,  contained in the Company's Annual Report on Form
10-K for the year ended December 31, 2005, incorporated herein by reference.


ITEM 4 - CONTROLS AND PROCEDURES
         -----------------------

       (a) Evaluation of Disclosure Controls and Procedures. The Company's Chief
Executive  Officer and Chief  Financial  Officer,  after the  evaluation  of the
effectiveness of the Company's  "disclosure controls and procedures" (as defined
in Rules 13a-4(c) and 15-14(c) under the Securities  Exchange Act of 1934) as of
the end of the period covered by this quarterly report,  have concluded that, as
of the  end of the  period  covered  by this  quarterly  report,  the  Company's
disclosure  controls and procedures  were adequate,  are designed to ensure that
material  information  related to the Company and its consolidated  subsidiaries
would be made known to the above officers,  are effective and provide reasonable
assurance that they will meet their objectives.

       (b) Changes in Internal  Controls.  There were no significant  changes in
the Company's  internal  controls or in other  factors that could  significantly
affect these controls subsequent to the date of their evaluation,  including any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.

PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS
         -----------------

       The  Company  is  involved  in  various  product  liability  claims.  The
claimants have claimed unspecified damages. The ultimate liability cannot now be
determined because of the considerable  uncertainties that exist.  Therefore, it
is possible that results of operations or liquidity in a particular period could
be  materially  affected by these  matters.  However,  based on facts  currently
available,  management  believes  that damages  awarded,  if any,  would be well
within existing insurance coverage.

Steel Partners II, L.P., et al v. Louis V. Aronson II, Robert A. Aronson,
--------------------------------------------------------------------------
Erwin M. Ganz, I. Leo Motiuk, Gerard J. Quinnan, Justin P. Walder,
-------------------------------------------------------------------
Saul H. Weisman, Carl W. Dinger III and Ronson Corporation
----------------------------------------------------------

       On March 25, 2003, a derivative  lawsuit was filed  against the directors
of Ronson in the Superior Court of New Jersey,  Chancery Division,  Essex County
by Steel  Partners II, L.P.  and Warren G.  Lichtenstein.  The lawsuit  alleges,
among   other   matters,   breach  of   fiduciary   duty  and  an   absence   of
disinterestedness  by the  defendants,  and use of corporate  control to advance
their own interests.  The lawsuit seeks monetary  damages on behalf of Ronson as
well  as  equitable  relief  to  invalidate  the  Company's  shareholder  rights
agreement and certain consulting

                                       15
<PAGE>

agreements,  to enjoin  performance of agreements with certain  directors and to
require the Company's President and C.E.O. to divest those shares acquired,  and
not to acquire additional shares while the shareholder rights agreement has been
or  remains in place.  A special  committee  of two  independent  directors  was
created by the Board of Directors of the Company to investigate and evaluate the
allegations  made in the  lawsuit.  The  committee  concluded  that  none of the
directors  breached any fiduciary duty owed to the Company or its  shareholders,
that it is not in the best  interests  of the  Company  or its  shareholders  to
continue legal action against the directors on any of the claims asserted in the
derivative complaint and that the Company seek to dismiss the derivative action.
The Company's  directors have vigorously denied the claims and moved to have the
complaint dismissed. That motion to dismiss was denied in February 2004.

       The Company's directors will continue to contest and to vigorously defend
against the claims.

       On June 21, 2004,  the Superior Court of New Jersey granted the motion of
the  Ronson  directors,  over the  objection  of Steel  Partners  II,  L.P.,  to
bifurcate  the case.  As a  result,  trial of all  claims  and  defenses  in the
derivative  suit,  other than the defense  based upon the report and findings of
the Special Litigation Committee,  will be held in abeyance pending trial of the
Special  Litigation  Committee  defense.  The  trial of the  Special  Litigation
Committee  defense  was  conducted  in March 2005.  In April  2005,  the parties
submitted post-trial memoranda.

       On July 23, 2004, Ronson Corporation and certain of its directors filed a
Counterclaim and Third-Party  Complaint  against Steel Partners II, L.P., Warren
G. Lichtenstein and certain close associates -- namely,  Jack Howard,  Howard M.
Lorber and Ronald Hayes.  The  Counterclaim  and Third-Party  Complaint is based
upon the New Jersey  Shareholders  Protection  Act, and seeks  compensatory  and
punitive  damages,  costs of suit and  interest,  as well as entry of a judgment
directing the public  disclosure of all limited  partners of Steel  Partners II,
L.P.,  and  persons  acting  directly  or  indirectly  in  concert  with them in
connection with the acquisition or attempted acquisition of stock in, or control
of,  Ronson  Corporation.  The  Court  directed  that all  discovery  and  other
proceedings in connection with the Counterclaim and Third-Party Complaint are to
be held in  abeyance  pending the  Court's  decision  on the Special  Litigation
Committee defense.

       By written  Opinion and Order dated March 30, 2006, the Superior Court of
New Jersey denied in whole or in part the Special Litigation  Committee defense.
The  Company's   directors  have  filed  a  motion  seeking   clarification  or,
alternatively,  modification  of the  Opinion and Order,  and await  hearing and
determination.


                                       16
<PAGE>

Steel Partners II, L.P. v. Louis V. Aronson II, Robert A. Aronson, Barbara L.
-----------------------------------------------------------------------------
Collins, Carl W. Dinger III, Paul H. Einhorn, Erwin M. Ganz, Daryl K. Holcomb,
------------------------------------------------------------------------------
I. Leo Motiuk, Gerard J. Quinnan, Justin P. Walder, and Saul H. Weisman
-----------------------------------------------------------------------

       On or about April 14, 2005, Steel Partners II, L.P.  commenced an action,
on its own behalf as a shareholder of the Company, in the United States District
Court for the District of New Jersey,  against the current directors (other than
Dr.  David) of the Company,  as well as Daryl K. Holcomb,  the  Company's  chief
financial  officer,  and Carl W. Dinger,  a shareholder of and consultant to the
Company.  The Complaint alleges,  among other things,  that defendants should be
treated  collectively as an "Acquiring  Person" under the Company's  Shareholder
Rights  Agreement,  and that their acquisition and ownership of more than 12% of
the  outstanding  stock of the  Company  has  triggered  the  provisions  of the
Shareholder  Rights  Agreement  with  respect  to  the  offering  of  rights  to
shareholders,   including  Steel  Partners  II  (notwithstanding   that  in  its
derivative  action in the  Superior  Court of New  Jersey,  Steel  Partners  has
challenged the legality and  enforceability of the Company's  Shareholder Rights
Agreement).  The Complaint  alleges  further that the  defendants  have violated
reporting  requirements  under Section 13(d) of the Securities  Exchange Act and
Rule 13-d  promulgated  by the  Securities  Exchange  Commission  by  failing to
disclose an alleged  agreement to  coordinate  their  purchases of the Company's
stock  for the  purposes  of  placing  voting  control  in the hands of Louis V.
Aronson II and for other undisclosed purposes.

       The Company's directors and its chief financial officer intend to contest
the allegations of this second  complaint filed by Steel Partners and vigorously
defend the action. The Company's directors and its chief financial officer filed
a motion to dismiss Steel Partners federal court complaint in July 2005.

       By order dated April 13, 2006, and  accompanying  written  Opinion of the
same date,  the United States  District Court denied the motion to dismiss filed
by the  Company's  directors  and its chief  financial  officer.  The  Company's
directors and chief financial officer have filed a motion seeking  certification
of the Order by the United States  District  Court,  so that a petition  seeking
permission  to appeal to the Third  Circuit  Court of Appeals may be filed.  The
parties await  consideration  and  determination  by the United States  District
Court.

Juraj Kosco and Maria Kosco vs. Ronson  Consumer  Products  Corporation,  Ronson
--------------------------------------------------------------------------------
Corporation,   Industrial  Waste  Management,   Inc.,  Cuno  Incorporated,   XYZ
--------------------------------------------------------------------------------
Corporations #1-10 (fictitious parties), John and/or Jane Does #1-10 (fictitious
--------------------------------------------------------------------------------
individuals)
------------

       The plaintiffs, a former employee and his spouse, claim damages for burns
and other  injuries  allegedly  received  in an  accident  occurring  during the
employee's  performance  of his job. The lawsuit was filed in the Superior Court
of New Jersey, Law Division,  Middlesex County, on February 10, 2005, and claims
damages  totaling  $10,000,000.  The claimant has  received,  and is  receiving,
workers' compensation benefits related to the incident. Counsel has advised that
it believes  that the claim is barred by the  exclusive  remedy of the  Workers'
Compensation Act.  Management believes that damages, if any, awarded in addition
to the  statutory  workers'  compensation  benefits,  will  be well  within  the
Company's insurance coverage.


                                       17
<PAGE>

David Pelous and Mary Pelous, his wife vs. Behr Process Corporation, et al.
---------------------------------------------------------------------------

       On January 26, 2006, Ronson Corporation of Delaware,  a former subsidiary
of the  Company,  was  notified  it was  named  as  one  of at  least  forty-one
defendants in the above matter.  The plaintiffs  claim damages from illness as a
result of exposure to benzene and  benzene-containing  products. The Company has
not received any information  which management  believes  supports any claims by
the plaintiffs  against it.  Management  believes that damages,  if any, will be
well within the Company's insurance coverage.


                                       18
<PAGE>

ITEM 6 - EXHIBITS
         --------

       31.1(a)  and (b)  Rule  13a-14(a)/15d-14(a)  Certifications  pursuant  to
Section 302 of the Sarbanes-Oxley Act of 2002.

       32.1  Section  1350   Certification   pursuant  to  Section  906  of  the
Sarbanes-Oxley  Act of  2002  (furnished  but  not  filed  for  purposes  of the
Securities Exchange Act of 1934).



                                       19
<PAGE>


                                   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.


                                             RONSON CORPORATION



Date:  May 15, 2006                          /s/Louis V. Aronson II
                                             ------------------------------
                                             Louis V. Aronson II, President
                                             & Chief Executive Officer

                                             (Signing as Duly Authorized
                                             Officer of the Registrant)



Date:  May 15, 2006                          /s/Daryl K. Holcomb
                                             ---------------------------------
                                             Daryl K. Holcomb, Vice President,
                                             Chief Financial Officer and
                                             Controller

                                             (Signing as Chief Financial
                                             Officer of the Registrant)


                                       20