UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                            Washington, DC  20549
                                
                                
                                
                                  FORM 10-Q
                                
                                
                                
      (Mark One)
      [ X ]          QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
      For the quarterly period ended:  January 31, 1996

                                     OR
                                
      [    ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
      For the transition period from _________ to ___________

      Commission file number     0-12619
                                
                             Collins Industries, Inc.
              (Exact name of registrant as specified in its charter)
                                
               Missouri                                
       (State or other jurisdiction of incorporation)

                                                       43-0985160
                                    (I.R.S. Employer Identification Number)
                                
       421 East 30th Avenue    Hutchinson, Kansas              67502-2489    
       (Address of principal executive offices)                (Zip Code)
                                
       Registrant's telephone number including area code     316-663-5551 
                                
                                
      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    


                        APPLICABLE ONLY TO CORPORATE ISSUERS:
                                
      Indicate the number of shares outstanding of each of the issuer's
      classes of common stock, as of the latest practicable date.




      Common Stock, $.10 par value                       7,307,387       
                 Class                          Outstanding at March 8, 1996


                                
                 COLLINS INDUSTRIES, INC. AND SUBSIDIARIES
                                
                                 FORM 10-Q
                             JANUARY 31, 1996
                                
                                   INDEX
                                
     PART I.   FINANCIAL INFORMATION                               PAGE NO

          Item 1.  Financial Statements:

               Consolidated Condensed Balance Sheets                  3
                    January 31, 1996 and October 31, l995

               Consolidated Condensed Statements of Operations -
                    Three Months Ended January 31, 1996 and 1995      4

               Consolidated Condensed Statements of Cash Flow -
                    Three Months Ended January 31, 1996 and 1995      5

               Notes to Consolidated Condensed Financial Statements   6

          Item 2.

               Management's Discussion and Analysis of Financial
                    Condition and Results of Operations               7


     PART II.  OTHER INFORMATION

         Item 6.  Exhibits and Reports on Form 8-K                   10


         SIGNATURES                                                  11


     PART I - FINANCIAL INFORMATION

     Item 1 - Financial Statements

                 Collins Industries, Inc. and Subsidiaries
                   CONSOLIDATED CONDENSED BALANCE SHEETS
                                
                                                   January 31     October 31,
                                                      1996           1995
                                                   (Unaudited)
     ASSETS                                                 
     Current Assets:                                        
       Cash                                       $   607,076     $   842,953
       Receivables, trade & other, net              6,088,433       7,375,492
       Inventories, lower of cost (FIFO)   
         or market (Note 2)                        24,583,385      23,466,727 
       Prepaid expenses and other current assets      542,504         400,753
           Total current assets                    31,821,398      32,085,925
                                                                 
     Property and equipment, at cost:              35,186,326      35,152,977
       Less:  accumulated depreciation             22,016,600      21,730,893
     Net property and equipment                    13,169,726      13,422,084
     Other assets                                   1,234,931       1,373,042
        Total assets                             $ 46,226,055     $46,881,051
                                                                 
     LIABILITIES & SHAREHOLDERS' INVESTMENT                           
     Current liabilities:                                             
       Current maturities of long-term           
        debt & capitalized leases                $  1,158,135     $ 1,158,070
       Accounts payable                            11,748,155      14,154,891
       Accrued expenses                             3,775,550       3,321,210
         Total current liabilities                 16,681,840      18,634,171
                                                                 
     Long-term capitalized leases, less       
      current maturities                            1,610,153       1,745,797
     Long-term debt, less current maturities       18,311,660      17,659,933
     Deferred income taxes                             36,000          36,000
     Shareholders' investment                                         
       Common stock, $.10 par value                   730,739         728,689
       Paid-in capital                             19,638,410      19,593,605
       Retained earnings (deficit)                (10,782,747)    (11,517,144)
         Total shareholders' investment             9,586,402       8,805,150
         Total liabilities & 
           shareholders' investment               $46,226,055     $46,881,051
                                                                 
     (See accompanying notes)                                         
     


                 Collins Industries, Inc. and Subsidiaries
              CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                               (Unaudited)
                                
                                
                                                     Three Months Ended
                                                         January 31,
                                                       
                                                      1996        1995
                                                       
     Sales                                        $32,408,792   $33,562,354
     Cost of sales                                 27,399,767    29,570,394
        Gross profit                                5,009,025     3,991,960
                                                            
     Selling, general and administrative expenses   3,689,208     3,462,854
                                                            
        Income from operations                      1,319,817       529,106
                                                            
     Other income (expense):                                     
      Interest, net                                  (634,584)     (828,086)
      Other, net                                       64,164        69,488
                                                     (570,420)     (758,598)
                                                            
        Income (loss) before income taxes             749,397      (229,492)
                                                            
     Provision for income taxes                        15,000             -
                                                            
        Net income (loss)                         $   734,397   $  (229,492)
                                                            
     Earnings (loss) per share                    $      0.10   $     (0.03)
                                                            
     Weighted average shares outstanding            7,287,778     7,159,087
                                                            
     (See accompanying notes)                                


                 Collins Industries, Inc. and Subsidiaries
              CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOW
                                (Unaudited)
                                
                                                       Three Months Ended
                                                           January 31,
                                                         
                                                         1996         1995
    Cash flow from operations:                           
      Cash received from customers                   $33,695,851  $35,874,554
      Cash paid to suppliers and employees           (33,663,716) (34,313,655)
      Interest paid                                     (657,871)    (284,422)
                                                             
        Cash provided by (used in) operations           (625,736)   1,276,477
                                                             
    Cash flow from investing activities:                         
      Capital expenditures                              (122,722)     (69,162)
      Proceeds from sale of vacant land                        -      643,667
      Other, net                                          (3,567)      (4,749)
                                                             
        Cash provided by (used in)
          financing activities                          (126,289)     569,756
                                                             
     Cash flow from financing activities:                         
       Net increase (reduction) in
         other borrowings                                833,934     (821,848)
       Principal payments of notes payable                     -     (625,000)
       Principal payments of long-term debt                     
         and capitalized leases                         (317,786)     (85,785)
       Payment of financing costs                              -     (106,789)
                                                             
        Cash flow provided by (used in)                      
          financing activities                           516,148   (1,639,422)
                                                             
     Net increase (decrease) in cash                    (235,877)     206,811
                                                             
     Cash at beginning of period                         842,953    3,814,398 
                                                             
     Cash at end of period                           $   607,076  $ 4,021,209
                                                             
     Reconciliation of net income (loss) to                       
       net cash provided by (used in) operations:                        
                                                             
       Net income (loss)                             $   734,397  $  (229,492)
       Depreciation and amortization                     530,300      619,799
       Common stock issued for benefit of employees       33,313            -
       Decrease in receivables                         1,287,059    2,312,200
       Increase in inventories                        (1,116,658)    (191,872)
       Decrease (increase) in prepaid         
         expenses and other current assets              (141,751)     122,600
       Decrease in accounts payable and       
         accrued expenses                             (1,952,396)  (1,257,091)
       Gain on sale of vacant land                             -      (99,667)
                                                             
     Cash provided by (used in) operations           $  (625,736) $ 1,276,477

     (See accompanying notes)                                     


                     COLLINS INDUSTRIES, INC. AND SUBSIDIARIES
                                
                                
               Notes to Consolidated Condensed Financial Statements
                                    (Unaudited)
                                
                                
                                
     (1)  General

     The  preparation  of  financial  statements  in  conformity  with
     generally  accepted accounting principles requires management  to
     make  estimates and assumptions that affect the reported  amounts
     of assets and liabilities and disclosure of contingent assets and
     liabilities  at  the  date of the financial  statements  and  the
     reported  amounts of revenues and expenses during  the  reporting
     period.  Actual results could differ from those estimates.

     In   the   opinion  of  management,  the  accompanying  unaudited
     consolidated   condensed   financial   statements   contain   all
     adjustments (consisting of only normal recurring items) necessary
     to  summarize fairly the Company's financial position and results
     of  operations for the three months ended January  31,  1996  and
     1995,  and  the changes in its financial position for  the  three
     months ended January 31, 1996 and 1995.

     The Company suggests that the unaudited Consolidated Condensed
     Financial Statements for the three months ended January 31, 1996
     be read in conjunction with the Company's Annual Report for the
     year ended October 31, 1995.

     (2)  Inventories

     Inventories,  which  include material, labor,  and  manufacturing
     overhead, are stated at the lower of cost (FIFO) or market.

     Major  classes of inventories as of January 31, 1996 and  October 31,
     1995, consisted of the following:

                                           January 31,         October 31,
                                               1996                1995

        Chassis                            $ 6,270,330        $  6,545,808
        Raw materials & components           9,107,221           8,294,483
        Work in process                      3,200,681           3,400,583
        Finished goods                       6,005,153           5,225,853
                                           $24,583,385         $23,466,727

     (3)  Earnings (Loss) per Share

     The  computation  of earnings (loss) per share is  based  on  the
     weighted  average number of outstanding common shares during  the
     period  plus,  when  their  effect  is  dilutive,  common   stock
     equivalents  consisting  of  certain  shares  subject  to   stock
     options.

     (4)  Contingencies and Litigation

     At  January 31, 1996 the Company had contingencies and litigation
     pending   which  arose  in  the  ordinary  course  of   business.
     Litigation  is subject to many uncertainties and the  outcome  of
     the  individual  matters is not presently  determinable.   It  is
     management's  opinion that this litigation would  not  result  in
     liabilities  that  would have a material adverse  effect  on  the
     Company's consolidated financial position.
                                
      
                                
                                
                                
     Item 2 - Managements' Discussion and Analysis of Financial
              Condition and Results of Operations


     RESULTS OF OPERATIONS:


     Net Sales

     Sales  for the quarter ended January 31, 1996 were $32.4  million
     or 3.7% percent lower than the $33.6 million in net sales for the
     quarter ended January 31, 1995.  This decline was principally due
     to lower sales of commercial bus products.

     The  Company's consolidated sales backlog at January 31, 1996 was
     $41.4  million compared to $29.2 million at October 31, 1995  and
     $47.8 at January 31, 1995.

  
     Cost of Sales

     The  Company's  cost of sales for the quarter ended  January  31,
     1996  were  $27.4 million or 84.5% percent of sales  compared  to
     $29.6  million  or 88.1% percent of sales for the  quarter  ended
     January  31, 1995.  This reduction as a percentage of  sales  was
     principally  due  to improved manufacturing efficiencies  in  the
     Company's ambulance and school bus divisions.


     Selling, General & Administrative Expenses

     Selling, general and administrative expenses were $3.7 million or
     11.4% of sales for the quarter ended January 31, 1996 compared to
     $3.5 million or 10.3% of sales for the quarter ended January  31,
     1995.   The  overall increase was principally due to a charge  of
     $.4  million to reflect the impact of an unfavorable jury verdict
     of  certain litigation recorded in the quarter ended January  31,
     1996.    This  litigation  related  to  a  dispute  regarding   a
     commission on a foreign sale and was not related to the Company's
     products or its future operations.


     Other Income (Expense)

     Interest  expense  decreased  principally  as  a  result  of  the
     Company's  overall reduction of its outstanding  interest-bearing
     debt.   A  deline  in the Company's overall cost  of  funds  also
     contributed to the decrease interest expense.


     Income Taxes

     The Company's income tax expense was low relative to its earnings
     for the three months ended January 31, 1996 due to the impact  on
     the  income tax provision from the Company's utilization  of  net
     operating losses to offset earnings.  The Company's net operating
     loss  carryforward at October 31, 1995 was $6.4 million  for  tax
     purposes and $10.3 million for financial reporting purposes.


     Net Earnings

     The  Company's net earnings were $.7 million ($.10 per share) for
     the quarter ended January  31,  1996  compared to a loss of
     $.2 million  ($.03  per share)  for  the quarter ended January 31,
     1995.  The improvement in  the  Company's  earnings is principally
     attributable  to  the Company's  improved bus operations and lower
     interest expense  as previously described.


     LIQUIDITY AND CAPITAL RESOURCES:


     The  Company  used  existing credit lines,  internally  generated
     funds  and  supplier  financing to  finance  its  operations  and
     capital expenditures for the quarter ended January 31, 1996.

     Cash  used  in  operations was $.6 million for the quarter  ended
     January 31, 1996 compared to cash provided by operations of  $1.3
     million for quarter ended January 31, 1995.  The decrease in cash
     provided  by  operations principally resulted from the  Company's
     increases  in  finished  goods  inventories  and  reductions   of
     accounts payable during the quarter ended January 31, 1996.

     Cash used in investing activities was $.1 million for the quarter
     ended  January  31, 1996 compared to cash provided  by  investing
     activities of $.6 million for the quarter ended January 31, 1995.
     Substantially all of this change was due to the proceeds realized
     from  the sale of vacant land of $.6 million in the quarter ended
     January 31, 1995.

     Cash  flow  provided by financing activities was $.5 million  for
     quarter  ended  January 31, 1996 compared to cash  flow  used  in
     financing activities of $1.6 million in the quarter ended January 31,
     1995.   Substantially  all  of  this  change  resulted  from
     increases in borrowings in the quarter ended January 31, 1996.

     The Company believes that its cash flows from operations and bank
     credit  lines  will be sufficient to satisfy its  future  working
     capital and capital expenditure requirements.

     At  January  31,  1996  there  were  no  significant  or  unusual
     contractual commitments or capital expenditure commitments.


     PART II - OTHER INFORMATION


     Item 1 - Legal Proceedings
          Not applicable

     Item 2 - Changes in Securities
          Not applicable

     Item 3 - Defaults on Senior Securities
          Not applicable

     Item 4 - Submission of Matters to a Vote of Security-Holders
          Not applicable

     Item 5 - Other Information
          Not applicable

     Item 6 - Exhibits and Reports on Form 8-K

          (a)  Exhibits:
                    27.0 - EDGAR Financial Data Schedule

          (b)  Reports on Form 8-K - No reports on Form 8-K were filed
                    during the quarter ended January 31, 1996.



                               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.


                                   COLLINS INDUSTRIES, INC.
                                   (REGISTRANT)





     DATE        March 13, 1996                 /s/ Larry W. Sayre
                                                LARRY W. SAYRE
                                                VICE PRESIDENT - FINANCE AND
                                                CHIEF FINANCIAL OFFICER