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, 1997

                                    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                       7,383,410      
                 Class                      Outstanding at February 18, 1997


                                
                 COLLINS INDUSTRIES, INC. AND SUBSIDIARIES
                                
                                 FORM 10-Q
                             JANUARY 31, 1997
                                
                                   INDEX
                                
     PART I.   FINANCIAL INFORMATION                                PAGE NO

        Item 1.  Financial Statements:

                 Consolidated Condensed Balance Sheets                
                   January 31, 1997 and October 31, l996                 3

                 Consolidated Condensed Statements of Income -
                   Three Months Ended January 31, 1997 and 1996          4
 
                 Consolidated Condensed Statements of Cash Flow -
                   Three Months Ended January 31, 1997 and 1996          5

                 Notes to Consolidated Condensed Financial Statements    6

         Item 2.

                 Management's Discussion and Analysis of Financial
                    Condition and Results of Operations                  8


 
     PART II.  OTHER INFORMATION

         Item 6.  Exhibits and Reports on Form 8-K                      11


     SIGNATURES                                                         12



     PART I - FINANCIAL INFORMATION

     Item 1 - Financial Statements

                 Collins Industries, Inc. and Subsidiaries
                   CONSOLIDATED CONDENSED BALANCE SHEETS
                                
                                                    January 31,     October 31,
                                                       1997            1996
                                                   (Unaudited)
     ASSETS                                                 
     Current Assets:                                        
       Cash                                      $    242,621    $    255,405
       Receivables, trade & other, net              6,379,666       8,310,009
       Inventories, lower of cost (FIFO) 
         or market (Note 2)                        24,958,242      23,615,159 
       Prepaid expenses and other current assets      758,721         459,275
          Total current assets                     32,339,250      32,639,848
                                                                 
     Property and equipment, at cost               34,923,948      34,610,370
       Less:  accumulated depreciation             22,891,750      22,573,220
     Net property and equipment                    12,032,198      12,037,150
     Other assets                                     964,874       1,067,454
          Total assets                            $45,336,322     $45,744,452
                                                                 
     LIABILITIES & SHAREHOLDERS' INVESTMENT                           
     Current liabilities:                                             
       Current maturities of long-term debt 
         & capitalized leases                     $ 1,126,969     $ 1,125,842
       Accounts payable                            11,988,960      13,729,044
       Accrued expenses                             3,088,837       3,580,731
          Total current liabilities                16,204,766      18,435,617
                                                                 
     Long-term debt, less current maturities       14,217,404      12,827,409
     Long-term capitalized leases, less 
       current maturities                             484,908         590,601

     Shareholders' investment:                                        
       Common stock, $.10 par value                   743,191         727,411
       Paid-in capital                             19,488,597      19,701,491
       Retained deficit                            (5,492,169)     (6,505,077)
                                                   14,739,619      13,923,825
       Less - Treasury stock, at cost                (310,375)        (33,000)
           Total  shareholders' investment         14,429,244      13,890,825
           Total liabilities &                  
              shareholders' investment             45,336,322      45,744,452

     (See accompanying notes)                                         


                  Collins Industries, Inc. and Subsidiaries
                 CONSOLIDATED CONDENSED STATEMENTS OF INCOME
                                 (Unaudited)
                                
                                
                                                   Three Months Ended
                                                       January 31,
                                                       
                                                     1997        1996
                                                       
       Sales                                  $35,280,611   $32,408,792
       Cost of sales                           30,214,276    27,399,767
           Gross profit                         5,066,335     5,009,025
                                                            
       Selling, general and administrative                         
         expenses                               3,705,519     3,689,208
                                                            
           Income from operations               1,360,816     1,319,817
                                                            
       Other income (expense):                                     
         Interest, net                           (464,300)     (634,584)
         Other, net                               116,392        49,164
                                                 (347,908)     (585,420)       
                                                            
           Income before income taxes           1,012,908       734,397
                                                            
       Provision for income taxes                       0             0
                                                            
           Net income                         $ 1,012,908    $  734,397
                                                            
       Earnings  per share                    $      0.13    $     0.10

       Weighted average  common and common                         
         equivalent shares outstanding          7,769,171     7,287,778
                                                            
       (See accompanying notes)                                    
                                

                   Collins Industries, Inc. and Subsidiaries
                CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOW
                                     (Unaudited)
                                
                                                    Three Months Ended
                                                        January 31,
                                                         
                                                       1997      1996
     Cash flow from operations:                           
       Cash received from customers               $37,210,954  $33,695,851
       Cash paid to suppliers and employees       (37,114,198) (33,663,716)
       Interest paid                                 (600,058)    (657,871)

         Cash used in operations                     (503,302)    (625,736)

     Cash flow from investing activities:                         
       Capital expenditures                          (313,578)    (122,722)
       Other, net                                      (3,458)      (3,567)
                                                             
         Cash used in investing activities           (317,036)    (126,289)
                                                             
     Cash flow from financing activities:                         
       Net increase in other borrowings             1,579,831      833,934
       Principal payments of long-term debt                     
         and capitalized leases                      (294,402)    (317,786)
       Proceeds from exercise of stock options         60,325            0
       Retirement of common stock                    (260,825)           0
       Acquisition of treasury stock                 (277,375)           0

         Cash provided by financing activities        807,554      516,148
                                                             
     Net decrease in cash                             (12,784)    (235,877)
                                                             
     Cash at beginning of period                      255,405      842,953
                                                             
     Cash at end of period                        $   242,621   $  607,076
                                                             
     Reconciliation of net income to net cash                     
       used in operations:                                      
                                                             
       Net income                                 $ 1,012,908   $  734,397
       Depreciation and amortization                  427,954      530,300
       Common stock issued for benefit of              
         employees                                          0       33,313
       Decrease in receivables                      1,930,343    1,287,059
       Increase in inventories                     (1,343,083)  (1,116,658)
       Increase in prepaid expenses 
         and other current assets                    (299,446)    (141,751)
       Decrease in accounts payable                          
         and accrued expenses                      (2,231,978)  (1,952,396)

     Cash used in operations                      $  (503,302)  $ (625,736)
                                                             
     (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 at January 31,
     1997 and October 31, 1996 and results of its  operations and its cash 
     flows for the three months ended January 31, 1997 and 1996.

     The Company suggests that the unaudited Consolidated Condensed
     Financial Statements for the three months ended January 31, 1997
     be read in conjunction with the Company's Annual Report for the
     year ended October 31, 1996.

     (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, 1997 and  October 31,
     1996, consisted of the following:

                                            January 31,         October 31,
                                                1997                 1996      

         Chassis                            $  6,906,937        $  6,466,570
         Raw materials & components            9,265,896           8,867,477
         Work in process                       3,456,988           3,061,276
         Finished goods                        5,328,421           5,219,836
                                             $24,958,242         $23,615,159

     (3)  Earnings per Share

     The  computation of earnings per share is based on  the  weighted
     average  number  of outstanding common shares during  the  period
     plus  common  stock  equivalents  consisting  of  certain  shares
     subject to stock options.

     (4)  Contingencies and Litigation

     At  January 31, 1997 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.
                                
     (5)  Income Taxes

     The provision for income taxes as calculated at statutory rates
     is offset by the tax affect of net operating loss and general tax
     credit carryforwards.

     (6)  Subsequent Event

     On February 12, 1997, the Company entered into a letter of intent
     to  sell  certain assets of the Company's wheelchair lift product
     line  to  The  Braun Corporation.  Consummation of  the  sale  is
     subject  to  customary  due diligence  and  the  negotiation  and
     execution  of  a definitive agreement.  The Company's  wheelchair
     lift  products have historically represented approximately  three
     percent  (3%)  of consolidated sales and have not contributed  to
     the Company's net income in recent years.  Based on the letter of
     intent, the Company should realize a pretax gain of approximately
     $2 million on the sale.  The Company expects to complete the sale
     in  mid-March and to record the gain in its second fiscal quarter
     ending April 30, 1997.



                                
      
                                
                                
                                
     Item 2 - Management's Discussion and Analysis of Financial
              Condition and Results of Operations


     RESULTS OF OPERATIONS:


     Net Sales

     Sales  for the quarter ended January 31, 1997 were $35.3  million
     or  9% higher than the $32.4 million in net sales for the
     quarter  ended  January 31, 1996.  This increase was  principally
     due to higher sales of terminal truck products.

     The  Company's consolidated sales backlog at January 31, 1997 was
     $43.3  million compared to $40.4 million at October 31, 1996  and
     $41.4 at January 31, 1996.


     Cost of Sales

     The  Company's  cost of sales for the quarter ended  January  31,
     1997  was $30.2 million or 85.6% of sales  compared  to
     $27.4  million  or 84.5%  of sales for the  quarter  ended
     January  31, 1996.  This increase was principally due to a higher
     sales mix of terminal truck products which carry a higher material
     content than ambulances and buses.

     
     Selling, General & Administrative Expenses

     Selling, general and administrative expenses were $3.7 million in
     the  quarters ended January 31, 1997 and 1996.  Selling,  general
     and  administrative expenses were 10.5% of sales for the  quarter
     ended January 31, 1997 compared to 11.4% of sales for the quarter
     ended  January 31, 1996.  The overall percentage decline resulted
     principally from a non-recurring expense of $.4 million  recorded
     in  the  quarter  ended  January 31, 1996  which  related  to  an
     unfavorable jury verdict of certain litigation.


     Other Income (Expense)

     Interest  expense  decreased  principally  as  a  result  of  the
     Company's  overall reduction of its outstanding  interest-bearing
     debt.


     Income Taxes

     The  Company  had  no  provisions for income  taxes  due  to  the
     utilization  of  net  operating  losses  and  tax  credits.   The
     Company's  net  operating loss and general  business  tax  credit
     carryforwards at October 31, 1996 were approximately $1.9 million
     and $.5 million, respectively.


     Net Earnings

     The Company's net earnings were $1.0 million ($.13 per share) for
     the quarter ended January  31,  1997  compared to income of
     $.7 million  ($.10  per share)  for  the quarter ended January 31,
     1996.  The improvement in  the  Company's  earnings is principally
     attributable  to  the Company's  improved  earnings from ambulance 
     products  and  lower interest expense.


     Other

     On February 12, 1997, the Company entered into a letter of intent
     to  sell  certain assets of the Company's wheelchair lift product
     line  to  The  Braun Corporation.  Consummation of  the  sale  is
     subject  to  customary  due diligence  and  the  negotiation  and
     execution  of  a definitive agreement.  The Company's  wheelchair
     lift  products have historically represented approximately  three
     percent  (3%)  of consolidated sales and have not contributed  to
     the Company's net income in recent years.  Based on the letter of
     intent, the Company should realize a pretax gain of approximately
     $2 million on the sale.  The Company expects to complete the sale
     in  mid March and to record the gain in its second fiscal quarter
     ending  April 30, 1997.
  

     LIQUIDITY AND CAPITAL RESOURCES:

 
     The  Company  used  existing credit lines,  internally  generated
     funds  and supplier financing to fund its operations and  capital
     expenditures for the quarter ended January 31, 1997.
  
     Cash  used  in  operations was $.5 million for the quarter  ended
     January  31,  1997  compared  to $.6 million  for  quarter  ended
     January  31,  1996.   Cash  used  in  operations principally 
     resulted from the Company's increase in  inventories and  reductions
     of accounts payable and accrued expenses  during the quarter ended
     January 31, 1997.

     Cash used in investing activities was $.3 million for the quarter
     ended  January 31, 1997 compared to $.1 million for  the  quarter
     ended   January  31,  1996.   The  increased  use  of  cash   was
     principally due to higher capital expenditures of $.3 million for
     the quarter ended January 31, 1997.

     Cash flow provided by financing activities was $.8 million for the
     quarter  ended January 31, 1997 compared to $.5 million  for  the
     quarter ended January 31, 1996.  This change principally resulted
     from  increases  in borrowings in the quarter ended  January  31,
     1997  and  was partially offset by principal repayments  of  debt
     ($.3   million)  and  the  acquisition  of  treasury  stock  ($.3
     million), and the retirement of common stock ($.3 million).
 
     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,  1997  there  were  no  significant  or  unusual
     contractual commitments or capital expenditure commitments.
   
     The Company's bus operations may be impacted in the second fiscal
     quarter  ending April 30, 1997 as a result of Ford Motor Company's
     shutdown  of its Lorain, Ohio production plant.  Ford's shutdown of 
     this plant, which produces the Ford E350 and E450 chassis, stems
     from a labor dispute  between  the  UAW  and Johnson Controls,  the 
     principal supplier  of Ford's seats for these chassis.  A prolonged 
     strike also  would ultimately impact the Company's ambulance
     operations.  Due to the nature of this situation, it is not possible 
     to  predict when normally scheduled chassis deliveries from  Ford
     will be resumed.  The Company is currently exploring alternatives to 
     accelerate  the  production  of  buses  when  normal chassis deliveries
     are resumed by Ford.  The company has experienced no cancellation of
     orders from these shortages.


     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, 1997.



                               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      February 21, 1997    /s/ Larry W. Sayre
                                    LARRY W. SAYRE
                                    VICE PRESIDENT - FINANCE AND
                                    CHIEF FINANCIAL OFFICER