<PAGE>                                                Page 1 of 12

               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549


                            FORM 10-Q

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


For Quarter Ended November 30, 1995    Commission File No. 0-5940


                     TEMTEX INDUSTRIES, INC.               
     ------------------------------------------------------
     (Exact name of Registrant as specified in its Charter)


           Delaware                             75-1321869    
-------------------------------             ------------------
(State or other jurisdiction of              (I.R.S. Employer 
incorporation or organization)              Identification No.)


3010 LBJ Freeway, Suite 650, Dallas, Texas        75234
------------------------------------------      ----------
(Address of principal executive offices)        (Zip Code)


                           214/484-1845                    
         ---------------------------------------------------
         (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
such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirement for
the past 90 days.

                    Yes [ X ]      No [   ] 

The Registrant had 3,464,141 shares of common stock, par value $.20
per share, outstanding as of the close of the period covered by
this report.

<PAGE>                                                Page 2 of 12

                 PART I.  FINANCIAL INFORMATION

            TEMTEX INDUSTRIES, INC. AND SUBSIDIARIES
   Condensed Consolidated Statements of Operations (Unaudited)
               (In Thousands Except Share Amounts)

<TABLE>
<CAPTION>
                                          3 Mths. Ended       
                                          November 30,       
                                        1995       1994      
                                        ----       ----
<S>                                     <C>        <C>
Net sales                                 $12,993    $14,167
Cost of goods sold                          8,917      9,316
                                          -------    -------
                                            4,076      4,851

Cost and expenses:
  Selling, general and administrative       2,901      3,150
  Interest                                    161         86
Other income                                  (5)       (11)
                                          -------    -------
                                            3,057      3,225
                                          -------    -------
    INCOME FROM OPERATIONS BEFORE
       INCOME TAXES                         1,019      1,626

State and federal income taxes--Note A        438        597
                                          -------    -------
       NET INCOME                         $   581    $ 1,029
                                          =======    =======

Income per common share--Note B

       NET INCOME                         $   .16    $   .29
                                          =======    =======
Weighted average common and common
  equivalent shares outstanding         3,523,301  3,547,005
                                        =========  =========

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

<PAGE>                                                Page 3 of 12

               TEMTEX INDUSTRIES, INC. AND SUBSIDIARIES
           Condensed Consolidated Balance Sheets (Unaudited)
                 November 30, 1995 and August 31, 1995
                            (In Thousands)

<TABLE>
<CAPTION>
                                               November 30,   August 31,
                                               1995            1995 
                                               ------------   ----------
<S>                                            <C>             <C>
ASSETS

CURRENT ASSETS
  Cash and cash equivalents                    $  1,434        $  736
  Accounts receivable, less allowance for
    doubtful accounts of $609,000 at November
    30, 1995 and $541,000 at August 31, 1995      7,910         7,011
  Inventories                                     8,661         8,773
  Prepaid expenses and other assets                 365           401
  Income taxes recoverable                          443           443
  Deferred taxes                                    350           350
                                               --------       -------
          TOTAL CURRENT ASSETS                   19,163        17,714

DEFERRED TAXES                                      530           530

OTHER ASSETS                                        316           366

ASSETS RELATED TO DISCONTINUED OPERATIONS
     --Note F                                       107            99

PROPERTY, PLANT AND EQUIPMENT
  Land and clay deposits                            325           325
  Buildings and improvements                      3,496         3,496
  Machinery, equipment, furniture and fixtures   21,825        21,448
  Leasehold improvements                            752           742
                                               --------       -------
                                                 26,398        26,011
  Less allowances for depreciation,
    depletion and amortization                   17,934        17,505
                                               --------       -------
                                                  8,464         8,506
                                               --------       -------
                                                $28,580       $27,215
                                               ========       =======

</TABLE>

<PAGE>                                                Page 4 of 12

<TABLE>
<CAPTION>
                                                November 30,   August 31,
                                                1995           1995   
                                                --------       -------
<S>                                             <C>
LIABILITIES AND STOCKHOLDERS' EQUITY                   

CURRENT LIABILITIES
  Notes payable                                 $ 1,000        $2,000
  Accounts payable                                5,740         4,144
  Accrued expenses                                1,746         1,786
  Income taxes payable                              409            --
  Current maturities of indebtedness
    to related parties                                7             7
  Current maturities of long-term 
    obligations--Note C                             765           763
                                                -------       -------
     TOTAL CURRENT LIABILITIES                    9,667         8,700

INDEBTEDNESS TO RELATED PARTIES,
  less current maturities                         1,619         1,621

LONG-TERM OBLIGATIONS,
  less current maturities--Note C                 1,297         1,478

COMMITMENTS AND CONTINGENCIES--Note E                --            --

STOCKHOLDERS' EQUITY--Note D
  Preferred stock - $1 par value; 1,000,000
    shares authorized, none issued                   --            --
  Common stock - $.20 par value; 10,000,000
    shares authorized, 5,265,625 shares issued      715           715
  Additional capital                              9,225         9,225
  Retained earnings                               6,384         5,803
                                                -------       -------
                                                 16,324        15,743
Less:
    Treasury stock:
      At cost - 113,696 shares                      327           327
      At no cost - 1,687,788 shares                  --            --
                                                 15,997        15,416
                                                -------       -------
                                                $28,580       $27,215
                                                =======       =======

See notes to condensed consolidated financial statements.

</TABLE>

<PAGE>                                                Page 5 of 12
                                      
                  TEMTEX INDUSTRIES, INC. AND SUBSIDIARIES
         Condensed Consolidated Statements of Cash Flows
(Unaudited)
                               (In Thousands)
<TABLE>
<CAPTION>
                                                           3 Months Ended
                                                           November 30,
                                                          1995      1994 
                                                          ----      ----
<S>                                                     <C>       <C>
OPERATING ACTIVITIES
  Net income                                            $  581    $1,029
  Adjustments to reconcile net income to net cash
      provided by operating activities:
    Depreciation, depletion and amortization               429       314
    Provision for doubtful accounts                         83       107
    Changes in operating assets and liabilities:
      Accounts receivable                                 (982)   (1,052)
      Inventories                                          112      (624)
      Prepaid expenses and other assets                     86      (168)
      Accounts payable and accrued expenses              1,556     1,169
      Income taxes payable                                 409       530
                                                        ------    ------
        NET CASH PROVIDED BY OPERATING ACTIVITIES        2,274     1,305

INVESTING ACTIVITIES
  Purchases of property, plant and equipment              (387)     (908)
  Expenditures on assets related to discontinued 
    operations                                              (8)       (1) 
                                                        ------    ------
        NET CASH USED IN INVESTING ACTIVITIES             (395)     (909)

FINANCING ACTIVITIES
  Proceeds from revolving line of credit and
    long-term borrowings                                    --       512
  Principal payments on revolving line of credit,
    long-term obligations and indebtedness to
    related parties                                     (1,181)      (56)
                                                        ------    ------
        NET CASH (USED IN) PROVIDED BY FINANCING
          ACTIVITIES                                    (1,181)      456
                                                        ------    ------
INCREASE IN CASH AND CASH EQUIVALENTS                      698       852

Cash and cash equivalents at beginning of year             736       627
                                                        ------    ------
       CASH AND CASH EQUIVALENTS AT END OF PERIOD       $1,434    $1,479
                                                        ======    ======

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

<PAGE>                                                Page 6 of 12

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE A--INCOME TAXES

The Company calculates its income tax expense under the liability
method of accounting for income taxes.  Income for the first three
months of fiscal 1996 reflects an estimated annualized tax rate of
approximately 43%.

NOTE B--INCOME PER COMMON SHARE

Income per common share is based on the weighted average number of
common stock and common stock equivalents outstanding during each
period.  Common stock equivalents include options granted to key
employees and outside directors.  The number of common stock
equivalents was based on the number of shares issuable on the exercise 
of options reduced by the number of common shares that are assumed to 
have been purchased, at the average price of the common stock during 
each quarter, with the proceeds from the exercise of the options.  Fully 
diluted income per common share is not presented because dilution is 
not significant.

NOTE C--NOTES PAYABLE AND LONG-TERM DEBT

In fiscal 1994, the Company entered into a two year credit agreement
with a bank whereby the Company may borrow a maximum of $3,000,000
under a revolving credit note.  The credit agreement was amended in
fiscal 1995, in which a three year term note of $1,212,000 was added. 
The term note requires quarterly payments of principal and interest
with the final payment due in March, 1998.  Covenants contained in the
original loan agreement that require the maintenance of a specified
ratio of total liabilities to tangible net worth, as defined, and a
fixed charge flow coverage ratio, as defined, remain in effect.

NOTE D--CAPITAL STOCK

At November 30, 1995 and August 31, 1995, there were 1,000,000 shares
of preferred stock, with a par value of $1 authorized.  None have been
issued.

At November 30, 1995 and August 31, 1995, there were 10,000,000 shares
of par value $.20 common stock authorized of which 5,265,625 shares
were issued.  Of the shares issued, 3,464,141 were outstanding.  The
remainder of the issued stock is comprised of 113,696 shares of
treasury stock at cost and 1,687,788 shares of treasury stock at no
cost.

<PAGE>                                                Page 7 of 12

NOTE E--CONTINGENCIES

Due to the complexity of the Company's operations, disagreements
occasionally occur.

In the opinion of management, the Company's ultimate loss from such
disagreements and potential resulting legal action, if any, will not be
significant.

NOTE F--DISCONTINUED OPERATIONS

In 1993, management of the Company decided to discontinue the Company's
contract products segment.  

At August 31, 1995 assets related to the discontinued contract products
operations were stated at estimated realizable values and consisted of
land, building and equipment.

In the first quarter of fiscal 1996, the Company leased the building
and the majority of the land. The initial lease term is for a period of
five years with an option to extend the lease for an additional five
year period.  The lease also contains an option to purchase the
property during the first two years of the initial lease period.

The remaining parcel of land and equipment are on the market to be
sold.

<PAGE>                                                Page 8 of 12

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS

Net Sales

The Company reported an 8% decrease in net sales to $12,993,000 in the
first quarter of fiscal 1996 compared to net sales of $14,167,000 in
the first quarter of fiscal 1995. 

Fireplace Products.  Net sales decreased approximately 8% in the first
quarter of fiscal 1996 compared to the first quarter of fiscal 1995. 
The sales decrease was attributed to a small decrease in the number of
zero-clearance fireplaces and ventfree log sets delivered in addition
to a small decrease in the average selling prices received for the
products in the first quarter of fiscal 1996.  Net sales were
apparently influenced by the decrease in housing starts between the
comparison periods.  Nationwide, housing starts decreased from an
annualized average of 1,494,000 in the first quarter of fiscal 1995 to
an annualized average of 1,363,000 for the first two months of fiscal
1996.  [Housing start data for November 1995 (the last month of
Company's first quarter), was not published at the time this report was
prepared.]

Face Brick Products.  Net sales decreased approximately 11% in the first
quarter of fiscal 1996 compared to the first quarter of fiscal 1995. 
The reduction in sales was the direct result of a reduction in the
quantity of brick sold in the first quarter of 1996.

Gross Profit

Fireplace Products.  Gross profit decreased approximately 15% in the first
quarter of fiscal 1996 compared to the first quarter of fiscal 1995. 
The decrease was caused by the decrease in net sales.

Face Brick Products.  Gross profit decreased approximately 21% in the first
quarter of fiscal 1996 compared to the first quarter of fiscal 1995.
With fixed manufacturing costs maintaining a relatively constant level,
the lower volume of product manufactured and sold did not permit
favorable absorption of overhead expenses.

Selling, General and Administrative Expenses

Selling, general and administrative expenses decreased by $249,000 or
8% in the first quarter of fiscal 1996 compared to the first quarter of
fiscal 1995.  Selling expenses are generally variable and decrease as
sales decrease.  As a percentage of sales, expenses were approximately
22% in each of the comparison quarters.

<PAGE>                                                Page 9 of 12

Interest Expense

Interest expense increased $75,000 in the first quarter of 1996
compared to the first quarter of 1995.  The increase in expense was
caused by the increase in debt outstanding during the first quarter of
1996.  It should be noted that outstanding debt at November 30, 1995
was more than $1,000,000 less than the amount outstanding at August 31,
1995.

Income Taxes

Income tax expense of $438,000 for the first quarter of fiscal 1996
includes the provision for both federal and state income taxes.  An
estimated annualized effective tax rate of 43% was applied to pre-tax
income for the first quarter of fiscal 1996.

Liquidity and Capital Resources

Net cash provided by operating activities was $2,274,00 for the first
quarter of 1996 compared to $1,305,000 for the first quarter of 1995. 
The increased cash flow from operations in the first quarter of fiscal
1996 was due primarily to changes in working capital, principally
increases in accounts payable and income taxes payable.

In May 1994, the Company entered into a two-year credit agreement with
a bank whereby the Company may borrow a maximum of $3,000,000 under a
revolving credit facility.  The amount available under the revolving
credit facility is subject to limitations based on specified
percentages of the Company's eligible outstanding receivables and
inventory.  The outstanding principal balance may bear interest at a
variable or fixed rate, at the Company's option, at the time funds are
requested.  Interest is payable quarterly and also at the end of the
borrowing period if borrowing at a fixed rate.  In fiscal 1995, the
loan agreement was amended whereby a promissory term note in the amount
of $1,212,000 was added with a maturity date of March 1998.  The term
note requires quarterly payments of principal and interest.

Working capital increased by $482,000 at November 30, 1995 compared to
August 31, 1995.  Although there was an increase in the amount of
working capital, the current ratio remained the same at approximately
2.0 at each of the measurement dates.

Capital expenditures and capitalized lease obligations for the first
three months of 1996 were $387,000 compared to $921,000 for the first
three months of 1995.  Expenditures include amounts for tooling, dies
and repairs to existing tooling and equipment.  The capital additions
have been financed by cash flow from operations.

The Company anticipates that cash flow from operations together with
funds available from the revolving credit facility should provide the
Company with adequate funds to meet its working capital requirements as
well as requirements for capital expenditures for at least the next
twelve months.  

<PAGE>                                                Page 10 of 12

The accompanying unaudited condensed consolidated financial statements
have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions
for Form 10-Q and Rule 10-01 of Regulation S-X.  Accordingly, they do
not include all of the information and notes required by generally
accepted accounting principles for complete financial statements. In
the opinion of management, all adjustments (consisting of normal
recurring accruals) considered necessary for a fair presentation have
been included.  Operating results for the three month period ended
November 30, 1995 are not necessarily indicative of the results that
may be expected for the year ending August 31, 1996.  For further
information, refer to the consolidated financial statements and notes
thereto included in the Company's annual report on Form 10-K for the
year ended August 31, 1995.

<PAGE>                                                Page 11 of 12

                     PART II.  OTHER INFORMATION

Item 6(b).  Reports on Form 8-K

The Registrant did not file any reports on Form 8-K during the quarter
for which this report is filed.

<PAGE>                                                Page 12 of 12

                        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.

                                  TEMTEX INDUSTRIES, INC.



DATE: 1/10/96                        BY:/s/E.R.Buford         
                                     ----------------------
                                     E. R. Buford
                                     President



DATE: 1/10/96                        BY:/s/R. N. Stivers      
                                     ----------------------
                                     R. N. Stivers
                                     Vice President-Finance