<PAGE> 1

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  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 February 1, 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 1-11577

                            FALCON PRODUCTS, INC.
           (Exact name of registrant as specified in its charter)

                 Delaware                                     43-0730877
    (State or other jurisdiction of                        (I.R.S. Employer
    incorporation or organization)                      Identification Number)

    9387 Dielman Industrial Drive                               63132
        St. Louis, Missouri                                   (Zip Code)
(Address of principal executive offices)

                              (314) 991-9200
           (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 twelve months, and (2) has been subject to such filing
requirements for the past 90 days.   YES   X    NO
                                        -------    ------

As of March 6, 1997, the registrant had 9,702,841 shares of common stock, $.02
par value, outstanding.




<PAGE> 2

PART I - FINANCIAL INFORMATION
Item 1. - Financial Statements
          --------------------

<TABLE>
                      Falcon Products, Inc. and Subsidiaries
                      --------------------------------------
                       Consolidated Statements of Earnings
                       -----------------------------------
                                  (Unaudited)

<CAPTION>

                                                                    Thirteen Weeks Ended
                                                                -----------------------------
                                                                February 1,       January 27,
(In thousands, except per share data)                              1997              1996
                                                                -----------       -----------
<S>                                                              <C>                <C>
Net sales                                                        $29,056            $25,433

Cost of sales                                                     20,556             17,827
                                                                 -------            -------

   Gross margin                                                    8,500              7,606

Selling, general and administrative expenses                       5,557              5,032
                                                                 -------            -------

   Operating profit                                                2,943              2,574

Interest income, net                                                  32                 27

Minority interest in consolidated subsidiary                          35                 17
                                                                 -------            -------

   Earnings before income taxes                                    3,010              2,618

Income tax expense                                                 1,144                995
                                                                 -------            -------

   Net earnings                                                  $ 1,866            $ 1,623
                                                                 =======            =======

Primary earnings per share                                       $   .19            $   .17
                                                                 =======            =======

See accompanying notes to consolidated financial statements.
</TABLE>


                                    2
<PAGE> 3

<TABLE>
                                      Falcon Products, Inc. and Subsidiaries
                                      --------------------------------------
                                          Consolidated Balance Sheets
                                          ---------------------------
                                                  (Unaudited)
<CAPTION>

                                                                           February 1,       November 2,
(In thousands, except share data)                                             1997              1996
                                                                           -----------       -----------
<S>                                                                          <C>              <C>
Assets
------
Current Assets:
   Cash and cash equivalents                                                 $ 3,804           $ 5,714
   Accounts receivable, less allowances
      of $495 and $439, respectively                                          16,052            16,683
   Inventories                                                                23,149            21,725
   Prepaid expenses and other current assets                                   2,342             2,247
                                                                             -------           -------
         Total current assets                                                 45,347            46,369
                                                                             -------           -------
Property, plant and equipment:
   Land                                                                        2,842             2,842
   Buildings and improvements                                                 13,545            13,460
   Machinery and equipment                                                    26,267            25,403
                                                                             -------           -------
                                                                              42,654            41,705
   Less accumulated depreciation                                              17,053            16,323
                                                                             -------           -------
         Total property, plant and equipment                                  25,601            25,382
                                                                             -------           -------
Other assets, net of accumulated amortization:
   Excess of cost over fair value of net assets acquired                       9,615             9,706
   Other                                                                       3,451             3,532
                                                                             -------           -------
         Total other assets                                                   13,066            13,238
                                                                             -------           -------

                                                                             $84,014           $84,989
                                                                             =======           =======

Liabilities and Stockholders' Equity
------------------------------------
Current liabilities:
   Accounts payable                                                          $ 6,829           $ 7,565
   Accrued liabilities                                                         4,536             4,540
   Current maturities of long-term debt                                          910               957
                                                                             -------           -------
         Total current liabilities                                            12,275            13,062
Long-term obligations:
   Long-term debt                                                                433               448
   Pension liability                                                             239               239
   Deferred income taxes                                                       1,843             1,843
   Minority interest in consolidated subsidiary                                  886               921
                                                                             -------           -------
         Total liabilities                                                    15,676            16,513
                                                                             -------           -------

Stockholders' equity:
   Common stock, $.02 par value: authorized 20,000,000 shares;
       9,915,117 shares issued                                                   198               198
   Additional paid-in capital                                                 47,262            47,260
   Treasury stock, at cost (220,486 and 109,516 shares, respectively)         (3,170)           (1,529)
   Cumulative translation adjustments                                            282               274
   Retained earnings                                                          23,766            22,273
                                                                             -------           -------
         Total stockholders' equity                                           68,338            68,476
                                                                             -------           -------

                                                                             $84,014           $84,989
                                                                             =======           =======

See accompanying notes to consolidated financial statements.
</TABLE>


                                    3
<PAGE> 4

<TABLE>
                                      Falcon Products, Inc. and Subsidiaries
                                      --------------------------------------
                                  Consolidated Statements of Stockholders' Equity
                                  -----------------------------------------------
                            Thirteen Weeks Ended February 1, 1997, and January 27, 1996
                            -----------------------------------------------------------
                                                   (Unaudited)
<CAPTION>
                                                    Additional                Cumulative                Total
                                           Common    Paid-in     Treasury    Translation   Retained  Stockholders'
(In thousands)                             Stock     Capital      Stock      Adjustments   Earnings     Equity
                                           ------   ----------   --------    -----------   --------  ------------
<S>                                         <C>      <C>         <C>            <C>        <C>         <C>
Balance, October 28, 1995                   $191     $42,761     $  (135)       $182       $15,308     $58,307

     Net earnings                             --          --          --          --         1,623       1,623
     Cash dividends                           --          --          --          --          (239)       (239)
     Issuance of stock to Employee
         Stock Purchase Plan                  --          55         100          --            --         155
     Exercise of employee incentive
         stock options                         1         159          --          --            --         160
     Compensation expense under
         non-qualified stock option plans     --           2          --          --             8          10
     Translation adjustments                  --          --          --           5            --           5
     Treasury stock purchases                 --          --        (777)         --            --        (777)
                                            ----     -------     -------        ----       -------     -------
Balance, January 27, 1996                   $192     $42,977     $  (812)       $187       $16,700     $59,244
                                            ====     =======     =======        ====       =======     =======

Balance, November 2, 1996                   $198     $47,260     $(1,529)       $274       $22,273     $68,476

     Net earnings                             --          --          --          --         1,866       1,866
     Cash dividends                           --          --          --          --          (339)       (339)
     Issuance of stock to Employee
          Stock Purchase Plan                 --          --         227          --            --         227
     Exercise of employee incentive
          stock options                       --          --         113          --           (42)         71
     Compensation expense under non-
          qualified stock and option plans    --           2          --          --             8          10
     Translation adjustments                  --          --          --           8            --           8
     Treasury stock purchases                 --          --      (1,981)         --            --      (1,981)
                                            ----     -------     -------        ----       -------     -------

Balance, February 1, 1997                   $198     $47,262     $(3,170)       $282       $23,766     $68,338
                                            ====     =======     =======        ====       =======     =======

       See accompanying notes to consolidated financial statements.
</TABLE>


                                    4
<PAGE> 5

<TABLE>
                          Falcon Products, Inc. and Subsidiaries
                          --------------------------------------
                          Consolidated Statements of Cash Flows
                          -------------------------------------
                                       (Unaudited)
<CAPTION>
                                                                   Thirteen Weeks Ended
                                                               -----------------------------
(In thousands)                                                 February 1,       January 27,
                                                                  1997              1996
                                                               -----------       -----------
<S>                                                              <C>               <C>
Cash flows from operating activities:
  Net earnings                                                   $ 1,866           $ 1,623
                                                                 -------           -------
  Adjustments to reconcile net earnings to net cash
   provided by operating activities:
   Depreciation                                                      790               638
   Amortization of other assets                                      235               274
   Translation adjustments during year                                 8                 5
   Compensation expense under stock and option plans                  10                10
   Minority interest in consolidated subsidiary                      (35)              (16)
   Change in assets and liabilities:
     Decrease (increase) in:
       Accounts receivable, net                                      631             1,878
       Inventories                                                (1,424)             (179)
       Prepaid expenses and other current assets                     (95)             (172)
       Other assets, net                                             (63)             (288)
     Increase (decrease) in:
       Accounts payable                                             (736)             (358)
       Accrued liabilities                                            (4)             (773)
                                                                 -------           -------
         Total adjustments                                          (683)            1,019
                                                                 -------           -------
         Net cash provided by operating activities                 1,183             2,642
                                                                 -------           -------
Cash flows from investing activities:
  Cost of business acquired                                           --              (377)
  Additions to property, plant and equipment, net                 (1,009)           (1,943)
                                                                 -------           -------
         Net cash used in investing activities                    (1,009)           (2,320)
                                                                 -------           -------
Cash flows from financing activities:
  Repayment of long-term debt                                        (62)              (79)
  Common stock issuances                                             298               315
  Treasury stock purchases                                        (1,981)             (777)
  Cash dividends                                                    (339)             (239)
                                                                 -------           -------
         Net cash used in financing activities                    (2,084)             (780)
                                                                 -------           -------
Net increase (decrease) in cash and cash equivalents              (1,910)             (458)
Cash and cash equivalents-beginning of period                      5,714             6,970
                                                                 -------           -------
Cash and cash equivalents-end of period                          $ 3,804           $ 6,512
                                                                 =======           =======

Supplemental Cash Flow Information:
  Cash paid for interest                                         $    28           $    56
                                                                 =======           =======
  Cash paid for income taxes                                     $   179           $    31
                                                                 =======           =======

See accompanying notes to consolidated financial statements.
</TABLE>

                                    5
<PAGE> 6

                 Falcon Products, Inc. and Subsidiaries
                 --------------------------------------
               Notes to Consolidated Financial Statements
               ------------------------------------------
                 Thirteen Weeks Ended February 1, 1997
                 -------------------------------------

Note 1. - Interim Results

     The financial statements contained herein are unaudited.  In the opinion
of management, these financial statements reflect all adjustments, consisting
only of normal recurring adjustments, which are necessary for fair
presentation of the results of the interim periods presented.  Reference is
made to the footnotes to the consolidated financial statements contained in
the Company's  Annual  Report on Form 10-K for the year ended November 2,
1996, filed with the Securities and Exchange Commission.


Note 2. - Acquisitions

     In October 1996, the Company acquired certain assets and assumed certain
liabilities of The Chair Source for 241,400 newly issued shares of common
stock valued at approximately $3.3 million plus 75,000 shares of common stock
to be issued over a three-year period, subject to certain contingencies.  The
purchase price is subject to working capital level adjustments.  The Chair
Source manufactures wood and upholstered seating in Anaheim, California and
distributes these products  primarily to the hospitality, lodging and
foodservice markets.



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

     The information contained in this Item 2 includes statements regarding
matters which are not historical facts (including statements as to the
Company's plans, beliefs or expectations) that are forward-looking statements
within the meaning of the federal securities laws. Because such forward-
looking statements involve certain risks and uncertainties, the Company's
actual results and the timing of certain events could differ materially from
those discussed herein.

Results of Operations

General

     The following table sets forth, for the periods presented, certain
information relating to the operations of the Company, expressed as a
percentage of net sales:

<TABLE>
<CAPTION>
                                                      Thirteen Weeks Ended
                                                    ------------------------
                                                    February 1,  January 27,
                                                       1997        1996
                                                    -----------  -----------
      <S>                                              <C>         <C>
      Net sales                                        100.0%      100.0%
      Cost of sales                                     70.8        70.1
      Gross margin                                      29.2        29.9
      Selling, general and administrative expenses      19.1        19.8
      Operating profit                                  10.1        10.1
      Interest income, net                                .1          .1
      Minority interest in consolidated subsidiary        .1          .1
      Earnings before income taxes                      10.3        10.3
      Income tax expense                                 3.9         3.9
      Net earnings                                       6.4         6.4
</TABLE>


                                    6
<PAGE> 7
Thirteen weeks ended February 1, 1997, compared to the thirteen weeks ended
January 27, 1996

     Net earnings totaled $1.9 million in the first quarter of 1997, compared
to $1.6 million in 1996, an increase of 15.0%.  Earnings per share reached
$.19 in 1997, compared to $.17 in 1996, an 11.8% increase.

     Net sales for the first quarter of 1997 were $29.1 million, an increase
of 14.2% over 1996 first quarter net sales of $25.4 million.  The sales
increase over the prior year primarily resulted from strong sales performance
from the Company's contract/office furniture and lodging markets and
incremental sales from the acquisition of The Chair Source during 1996.  Net
sales for the quarter excluding sales resulting from this acquisition were
approximately $26.8 million.

     Cost of sales was $20.6 million  for the 1997 first quarter, an increase
of 15.3% from $17.8 million in the 1996 first quarter.  The overall increase
is primarily related to increased sales volume.  Gross margin increased to
$8.5 million for the first quarter of 1997, an 11.7% increase from $7.6
million in the same quarter of 1996.  Gross margin as a percentage of net
sales decreased to 29.2% in 1997 from 29.9% in 1996 primarily due to product
mix and higher volume at the Company's new facility in City of Industry,
California, which has operated at lower margins than the Company's other
manufacturing facilities.

     Selling, general and administrative expenses were $5.6 million in the
1997 first quarter, compared to $5.0 million in the 1996 first quarter, a
10.4% increase.  The overall increase is primarily related to higher sales
volume.  Selling, general and administrative expenses as a percentage of net
sales decreased to 19.1% for the first quarter of 1997 compared to 19.8% for
the same period of 1996, primarily due to certain economies of scale
associated with the sales volume increases.

     The Company reported net interest income of $32,000 for the first
quarter of 1997, versus net interest income of $27,000 for the comparable
period in 1996. Income tax expense increased by $149,000, or 15.0%, in the
first quarter of 1997 compared to the same period in 1996 due to higher
earnings during 1997.

Liquidity and Capital Resources

     The Company's working capital at February 1, 1997, was $33.1 million and
its ratio of current assets to current liabilities was 3.7 to 1.0, compared
to $33.3 million and 3.5 to 1.0 at November 2, 1996.

     During the first quarter of 1997, the Company acquired approximately
135,000 shares of its common stock for a total cost of approximately $2.0
million.  The Company is authorized to purchase up to 575,000 shares of its
common stock under a stock repurchase plan previously approved by the Board
of Directors.  The Company has purchased approximately 352,000 shares under
the plan at February 1, 1997.


                                    7
<PAGE> 8


     The Company has a $2.0 million unsecured revolving line of credit
agreement with a commercial bank.  The revolving line of credit bears
interest at the London Interbank Offered Rate plus 1.25% and expires on July
1, 1997.  As of February 1, 1997, there were no amounts outstanding under the
revolving line of credit.

     The Company expects that it will meet its ongoing working capital and
capital requirements, from a combination of internally generated funds,
available cash reserves, and available borrowings under its revolving credit
facility.  The Company's operating cash flows constitute its primary internal
source of liquidity.

     Generally, inflation has not had a material effect on the Company in the
past and no such effect is expected in the near future.  Historically, the
Company has been able to increase prices to offset increases in the cost of
manufacturing its products, and management presently believes that the
Company will continue to be able to do so.


PART II - OTHER INFORMATION

Item 1. -    Legal Proceedings
             -----------------

             From time to time, the Company is subject to legal proceedings
             and other claims arising in the ordinary course of its
             business.  The Company maintains insurance coverage against
             potential claims in an amount which it believes to be
             adequate.

             Other than as described in the Company's Annual Report on
             Form 10-K for the year ended November 2, 1996, there are no other
             material pending legal proceedings, other than routine litigation
             incidental to the business, to which the registrant is a party or
             of which any of the registrant's property is the subject.

Item 2. -    Changes in Securities
             ---------------------

             None.

Item 3. -    Defaults Upon Senior Securities
             -------------------------------

             None.


                                    8
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Item 4. -    Submission of Matters to a Vote of Security Holders
             ---------------------------------------------------

             None.

Item 5. -    Other Information
             -----------------

             None.

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

             (a)  Exhibits

             Exhibit 11 - Computation of Earnings Per Share.

             (b)  Reports on Form 8-K

             None.



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.


                                                  FALCON PRODUCTS, INC.
                                                  ---------------------
                                                  (Registrant)


Date:  March 17, 1997                             /s/ Franklin A. Jacobs
                                                  -----------------------------
                                                  Franklin A. Jacobs
                                                  Chief Executive Officer and
                                                  Chairman of the Board


Date:  March 17, 1997                             /s/ Michael J. Dreller
                                                  -----------------------------
                                                  Michael J. Dreller
                                                  Vice President and
                                                  Chief Financial Officer


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