SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C. 20549


                           Form 10-QSB


           Quarterly Report under Section 13 or 15 (d)
             of the Securities Exchange Act of 1934


  For Quarter ended: September 30, 1997      Commission File Number: 0-19589



                      ARGUSS HOLDINGS, INC.


                 (formerly "Conceptronic, Inc.")
        (Exact Name of Small Business Issuer as Specified
                         in its Charter)
                 Delaware             02-0413153
                                
          (State or other jurisdiction of         (IRS Employer
          incorporation of organization)     Identification Number)

          One Church Street, Suite 302, Rockville, Maryland 20850

          (Address of Principal Executive Offices)     (Zip Code)

          (Issuer's Telephone Number including    301-315-0027
               Area Code:)

    Indicate by check mark whether the registrant (1) has  filed
all  reports required to be filed by section 13 or 15 (d) of the
Securities Exchange Act of 1934 during the preceding  12  months
(or for such shorter period that the registrant was required  to
file  such  reports), and (2) has been subject  to  such  filing
requirements for the past 90 days.


Yes: X No:

    As of November 6, 1997, there were 8,514,870 shares of
Common Stock, $.0l par value per share outstanding.

                           ARGUSS HOLDINGS, INC.

                                   INDEX



Part I - Financial Statements:

   Item I - Financial Statements


      Consolidated Balance Sheets (Unaudited) -
      September 30, 1997 and December 31, 1996                 3

      Consolidated Statements of Operations (Unaudited) -
      Three Months and Nine Months Ended
      September 30, 1997 and September 30, 1996                4

      Consolidated Statements of Cash Flows (Unaudited) -
      Nine Months Ended September 30, 1997 and
      September 30, 1996                                       5

      Notes to Consolidated Financial Statements
      (Unaudited)                                              6


   Item 2 - Management's Discussion and Analysis of Financial
            Condition and Results of Operations               11

Part II - Other Information

   Items I through 6                                          14

   Signatures                                                 15

   Exhibits                                                   16








                                     

                           ARGUSS HOLDINGS, INC.

                            Consolidated Balance Sheets
                                            (Unaudited)

                                         Sept. 30, 1997        Dec. 31,1996
           Assets

           Current assets:

            Cash                            $ 3,161,000        $ 10,318,000
            Accounts receivable, net         12,624,000           2,917,000
            Inventories                       4,504,000           4,133,000
            Other assets, current             1,711,000             339,000
               Total current assets          22,000,000          17,707,000


           Property, plant and equipment      9,974,000           1,393,000
           Goodwill and other assets         21,800,000               7,000
                                            $53,774,000        $ 19,107,000

           Liabilities and Stockholders' Equity

           Current liabilities:

            Current portion long-term debt   $1,210,000        $     48,000
            Short-term borrowings             4,100,000                   -
            Accounts payable                  3,016,000           1,479,000
            Accrued expenses and other
             liabilities                      4,055,000           1,771,000
               Total current liabilities     12,381,000           3,298,000


           Long-term debt, excluding 
            current portion                   5,400,000           1,038,000
           Deferred income taxes                873,000                   -


           Stockholders' equity:

            Common stock $.0l par value          73,000              57,000
            Additional paid-in capital       34,407,000          16,077,000
            Retained Earnings                   640,000         (1,363,000)
               Total stockholders' equity    35,120,000          14,771,000
                                             53,774,000          19,107,000


The accompanying notes are an integral part of these consolidated financial
statements.

                                     

                           ARGUSS HOLDINGS, INC.

                   Consolidated Statements of Operations
                                (Unaudited)

                              Three Months Ended          Nine Months Ended


                           Sept. 30,   Sept. 30,     Sept. 30,    Sept. 30,
                                1997        1996          1997         1996

Net Sales                $14,168,000  $4,072,000  $ 35,826,000  $11,632,000
Cost of sales excluding 
 depreciation              9,610,000   2,763,000    24,375,000    7,931,000
Gross profit               4,558,000   1,309,000    11,451,000    3,701,000

Expenses:
Selling, general and
 administrative            2,374,000     830,000     5,943,000    2,675,000
Depreciation                 376,000      86,000       824,000      254,000
Engineering and 
 development                 238,000     211,000       811,000      761,000


Income from operations     1,570,000     182,000     3,873,000       11,000


Other expense:
    Goodwill amortization    225,000           -       618,000            -
    Interest expense, net    104,000      46,000       250,000      137,000


Income (loss) before 
 income taxes              1,241,000     136,000     3,005,000     (126,000)


Income tax expense           631,000           -     1,003,000            -
       

Net income (loss)        $   610,000  $  136,000  $  2,002,000  $  (126,000)


Net income (loss) 
 per share               $       .08  $      .08  $        .26  $      (.07)


Weighted average number
 of shares outstanding     8,017,000   1,700,000     7,671,000    1,700,000

The accompanying notes are an integral part of these consolidated financial
statements.



                           ARGUSS HOLDINGS, INC.

                   Consolidated Statements of Cash Flows
                                (Unaudited)

                                                        Nine Months Ended
                                                Sept. 30, 1997  Sept. 30, 1996
Cash flows from operating activities:

   Net income (loss)                              $  2,002,000    $  (126,000)

Adjustments to reconcile net income (loss) to net
Cash provided by (used for) operating activities:

   Goodwill amortization                               618,000              -
   Depreciation                                        824,000        254,000
   Deferred income taxes                               187,000              -
   Stock option expense                                128,000              -

Changes in assets and liabilities:

   Accounts receivable                              (2,853,000)      (227,000)
   Inventories                                         (80,000)      (444,000)
   Refundable income taxes and other assets           (637,000)        10,000
   Accounts payable                                 (1,595,000)       216,000
   Accrued expenses and other liabilities            1,928,000         19,000
   Net cash provided by (used for) 
     operating activities                              522,000       (298,000)


Cash flows used for investing activities:

   Purchase of White Mountain Cable Construction
   Corp. and TCS Communications, Inc.               (8,711,000)             -

   Additions to property, plant and equipment       (3,898,000)       (58,000) 
   Net cash used for investing activities          (12,609,000)       (58,000)

Cash flows used for financing activities:

   Proceeds from line of credit                     10,860,000        390,000
   Repayments of notes payable                      (5,930,000)       (32,000)
   Net cash provided by financing activities         4,930,000        358,000

Net increase (decrease) in cash                     (7,157,000)         2,000

Cash at beginning of period                         10,318,000         10,000

Cash at end of period                           $    3,161,000     $   12,000

The accompanying notes are an integral part of these consolidated financial
statements.

                                     

                      ARGUSS HOLDINGS, INC.
           Notes to Consolidated Financial Statements
                           (Unaudited)




     A)        Restructuring

Prior    to    May   1997,   Arguss   Holdings,   Inc.   (the    "Company")
operated   as   a  single  entity  under  the  name  "Conceptronic,   Inc."
On   May  9,  1997,  the  shareholders  of  the  Company  approved  a  plan
providing   for   the  internal  restructuring  of  the   Company   whereby
the   Company   became   a  holding  company  and  its   operating   assets
were   held   by   wholly   owned  operating  subsidiaries.    Accordingly,
on   May  9,  1997,  the  Company  transferred  substantially  all  of  its
Conceptronic,   Inc.   operating  assets  to   a   newly   formed,   wholly
owned   subsidiary   of   the  Company,  and  the   Company   changed   its
name   to   "Arguss  Holdings,  Inc."  The  subsidiary  then  adopted   the
name    "Conceptronic,   Inc."   The   Company's   other    wholly    owned
operating   subsidiary   is   White  Mountain  Cable   Construction   Corp.
("WMC").

The   Company   conducts   its   operations  through   its   wholly   owned
subsidiaries,   WMC   and   Conceptronic.    WMC   is   engaged   in    the
construction,    reconstruction,   maintenance,   repair   and    expansion
of   communications   systems,   cable   television   and   data   systems,
including   providing   aerial   construction   and   splicing   of    both
fiber   optic   and  coaxial  cable  to  major  communications   customers.
Conceptronic   manufactures   and   sells   highly   advanced,    computer-
controlled equipment used in the SMT circuit assembly industry.


     B)        Basis for Presentation

As    permitted   by   the   rules   of   the   Securities   and   Exchange
Commission   (the   "Commission")  applicable  to  quarterly   reports   on
Form   10-QSB,   these  notes  are  condensed  and  do  not   contain   all
disclosures      required     by     generally     accepted      accounting
principles.     Reference    should    be    made    to    the    financial
statements   and   related   notes  included  in   the   Company's   Annual
Report   on   Form   10-KSB  for  the  year  ended   December   31,   1996,
filed with the Commission on March 31, 1997.

In    the    opinion   of   the   Company,   the   accompanying   unaudited
financial     statements     contain     all     adjustments     considered
necessary   to   present   fairly   the   financial   position    of    the
Company   as   of  September  30,  1997  and  the  results  of   operations
and   cash   flows  for  the  periods  presented.   The  Company   prepares
its    interim   financial   information   using   the   same    accounting
principles as it does for its annual financial statements.

Research   and   development   expenses   incurred   and   expensed    were
$371,000   and   $95,000,   respectively,   for   the   nine   and    three
months    ended   September   30,   1997   and   $295,000   and    $70,000,
respectively,   for  the  nine  and  three  months  ended   September   30,
1996.

The   results   of   operations   for  the  periods   presented   are   not
necessarily   indicative   of  the  results  to   be   expected   for   the
full year.

The    Company   reclassified   certain   information   from   prior   year
financial     statements    to    conform    to    the     current     year
presentation.


     C)       Earnings per Share

Earnings   per   share   is  computed  based  on   the   weighted   average
number   of   common  shares  outstanding  adjusted,  when  dilutive,   for
the   number   of   shares  issuable  upon  assumed   exercise   of   stock
options   after  the  assumed  repurchase  of  shares  with   the   related
proceeds.    Earnings  per  share  for  individual  quarters   during   the
year  may  not  aggregate  to  year  to date  earnings  per  share  due  to
differences   in   the   number  of  weighted  average   shares   used   in
each reporting period's calculation and mathematical rounding.

On   May   25,   1997,   4,000,000  shares  of  the   Company's   Class   A
Common   Stock   converted   into  4,000,000  shares   of   the   Company's
Common Stock pursuant to the terms of the Class A Common Stock.

In    February    1997,   the   Financial   Accounting   Standards    Board
issued    Statement   of   Financial   Accounting   Standards   No.    128,
"Earnings   Per   Share"  (SFAS  No.  128).   SFAS   No.   128   supersedes
Accounting   Principles   Board  Opinion   No.   15   and   specifies   the
computation,     presentation    and    disclosure     requirements     for
earnings   per   share.    SFAS  No.  128  is   effective   for   financial
statements   for   both   interim   and   annual   periods   ending   after
December    15,   1997   and   early   application   is   not    permitted.
Accordingly,  the  Company  will  apply  SFAS  No.  128  for  the   quarter
and   year   ended   December   31,   1997   and   restate   prior   period
information   as   required   under  the  statement.    The   Company   has
determined   that  if  SFAS  No.  128  had  been  applied  for   the   nine
months   and  three  months  ended  September  30,  1997  the   impact   on
earnings per share as currently stated would be immaterial.

     D)      Taxes

During   the   nine   months  ended  September  30,   1997,   the   Company
reversed   the   valuation  allowance  previously  recorded   against   the
entire   deferred   tax  asset  of  approximately   $554,000.    Based   on
the   weight   of  evidence  available,  management  determined   that   it
is   more   likely  than  not  that  the  deferred  tax   asset   will   be
realized   at   a   future   date.    During   the   nine   months    ended
September   30,   1997,   the  Company  also  recorded   tax   expense   of
$1,556,000   based   on   its   estimated   annual   effective   tax   rate
applied to pretax income.

     E)      White Mountain Cable Construction Corp.

In   the   first   quarter  of  1997,  the  Company  acquired   WMC.    The
purchase   price   was   approximately   $17,200,000   and   consisted   of
1,571,326  shares  of  Common  Stock,  $  .01  par  value  per  share,   of
the   Company   and   approximately  $8,642,000  in  cash.    The   Company
has    classified    as    goodwill   approximately   $15,700,000,    which
represents   the   cost  in  excess  of  the  fair   value   of   the   net
assets   of  WMC.   The  acquisition  was  accounted  for  as  a   purchase
transaction.    Goodwill   is   being   amortized   using   the   straight-
line   method   over   20  years.   The  Company  also   acquired,   during
the   third   quarter   of   1997,  a  corporate  office   and   operations
facility   directly   from   the   previous   owners   of   WMC   for    an
acquisition price of approximately $345,000.


     F)      TCS Communications, Inc.

The   Company   acquired,  effective  September  1,   1997,   through   its
wholly   owned   subsidiary  WMC,  the  assets   of   TCS   Communications,
Inc. ("TCS") headquartered in Palm Harbor, Florida.

TCS   provides   underground   and   aerial   construction   services   and
splicing    for    fiber    optic    and    coaxial    cable    to    major
telecommunications   customers   on  a  national   level.    The   purchase
price   for   TCS'   assets   was  approximately   $10,000,000,   and   was
satisfied   by   the   issuance  of  approximately  1,170,000   shares   of
the   Company's  common  stock.   Of  this  amount,  662,000  shares   were
issued   at   closing   representing  approximately   $5,000,000   of   the
purchase price.

The   total  number  of  shares  of  the  Company's  common  stock  to   be
issued   will  change  as  the  Company  has  agreed  to  issue  sufficient
shares   of   common  stock  to  provide  $5,000,000  in  value   for   the
remainder   of   the   purchase  price.   As  at  the   acquisition   date,
the   number   of  such  shares  of  common  stock  required   to   realize
$5,000,000   will  be  known  when  TCS  sells  these  shares   in   market
transactions within ninety days.

The    TCS   purchase   agreement   contains   provision   for   additional
payments   by  the  Company  to  the  TCS  shareholders  to  be   satisfied
by   the   issuance   of   Company  common   stock   if   certain   minimum
EBITDA   thresholds  are  met  for  the  year  ended   August   31,   1998.
One-half   of   the   additional  payment  will   be   satisfied   by   the
issuance   of   shares  of  common  stock  valued  at  $6.40   per   share.
The  second  half  of  the  payment  will  be  satisfied  by  the  issuance
of   shares   of   common   stock  valued  at  prevailing   market   prices
during   the   ninety   day  period  following  August   31,   1998.    Any
additional   payments  earned  under  the  terms  of  the  agreement   will
be recorded as an increase of the total acquisition price.

The   TCS   acquisition  has  been  accounted  for  as  a  purchase.    The
excess  of  the  total  acquisition  cost  over  the  fair  value  of   the
net   assets   acquired   of   $6,716,000  is  being   amortized   by   the
straight-line   method   over  twenty  years  resulting   in   $28,000   of
goodwill   amortized   for   the   three   months   ended   September   30,
1997.

     G)       Business Segment Information

The Company's operations have been classified into two business segments
for the three and nine month periods ended September 30, 1997, Cable
Construction and Manufacturing.  Summary financial information for the two
segments is as follows:

                                       Sept. 30, 1997

                             Three Months Ended          Nine Months Ended

                                 Cable                  Cable
                          Construction      Mfg. Construction          Mfg.

Net Sales               $ 9,251,000  $ 4,917,000  $22,180,000  $ 13,646,000
Cost of sales excluding
 depreciation             6,444,000    3,166,000   15,311,000     9,064,000
    Gross profit          2,807,000    1,751,000    6,869,000     4,582,000


Operating expenses 
 before depreciation        912,000    1,684,000    2,040,000     4,675,000
Depreciation expense        320,000       55,000      650,000       173,000
Goodwill amortization       225,000            -      618,000             -
Net interest and other
 expense (1)                 81,000       40,000      190,000       100,000
    Pretax operating 
      income (loss)     $ 1,269,000     $(28,000)  $3,371,000     $(366,000)


Capital Expenditures    $ 1,803,000      $16,000   $3,668,000       $98,000

Property Plant and 
 Equipment, Net         $ 8,522,000   $1,413,000   $8,522,000    $1,413,000


        (1)  Net interest and other expense at the segment level
        does not include corporate interest income and as a
        consequence it does not aggregate to consolidated financial
        amounts reported.

          H)       Litigation

On   December   13,  1991,  the  Company  was  served  with   a   complaint
from   Vitronics   Corporation  ("Vitronics"),   one   of   the   Company's
competitors,   alleging   patent   infringement   involving   its    reflow
soldering   ovens.    Vitronics  sought  an   injunction,   together   with
unspecified   damages   and   costs.   The   claim   was   filed   in   the
United States Federal District Court, District of New Hampshire.

In   August   1995,   the   U.S.   District   Court   issued   a   directed
verdict    of   non-infringement   in   the   Company's   favor   regarding
method   patent   #4,654,502.   Additionally,  a   decision   was   reached
on   the   apparatus  patent  #4,833,301  by  a  jury,  which  found   non-
infringement    on    all    past   and   current    Conceptronic    ovens.
Vitronics   appealed  the  directed  verdict  on  patent   #4,654,502   and
the   United  States  Court  of  Appeals  for  the  First  Circuit  ("Court
of   Appeals")   subsequently   reversed  and   remanded   the   case   for
further    proceeding.    In   October   1997,   the   Court   of   Appeals
administratively dismissed the case.

In   related   actions,   in   April  1997,  the   United   States   Patent
Office    ("PTO")   rejected   certain   claims   of   Vitronics'    patent
#4,654,502   as  being  unpatentable.   This  decision  by  the   PTO,   if
upheld   on   appeal,   should   terminate   the   pending   lawsuit.    In
December   1996,  the  Company  named  Vitronics  and  its   Chairman   and
CEO,  James  Manfield  in  a  lawsuit,  filed  in  Superior  Court  of  the
State   of   New   Hampshire,  citing  malicious  prosecution   and   abuse
of   process.    The  suit  claims  that  Vitronics,  when   it   initiated
the   1991   patent  infringement  case  against  Conceptronic,   knew   or
should  have  known  that  the  suit  was  without  merit  and  that  claim
1   of   U.S.   Patent  #4,883,301  was  invalid,  unenforceable   and   as
consequence that the patent was not infringed.

In    the   opinion   of   counsel,   the   ultimate   outcome   of    this
litigation   cannot   presently   be   determined.    Management   of   the
Company   believes  that  Vitronics'  claim  is  without  merit  and   that
the   Company   will   ultimately  prevail.   Accordingly,   no   provision
has   been   made  in  the  accompanying  financial  statements   for   any
potential liability that might result.

          I)       Subsequent Events

In   October   1997,  the  Company  acquired,  through  its  wholly   owned
subsidiary     WMC,    Rite    Cable    Construction,     Inc.     ("RITE")
headquartered    in  Deland,   Florida.    The   purchase    price    was
approximately   $3.8  million  and  was  satisfied  by  the   issuance   of
154,000   shares   of  the  Company's  common  stock  and   $1,613,000   in
cash.

The   Rite   purchase   agreement   contains   provision   for   additional
payments   by  the  Company  to  the  Rite  shareholders  to  be  satisfied
by   the   issuance   of   Company   common   stock   if   certain   EBITDA
thresholds   are  met  for  the  year  ended  September  30,  1998.    One-
half  of  the  additional  payment  will  be  satisfied  by  cash  and  the
remainder by the issuance of common stock at $8.50 per share.

The    Company   continues   to   pursue   acquisitions   in   the    cable
construction   industry.   As  of  October  31,  1997,  the   Company   had
signed   letters   of   intent  to  purchase  Can-Am  Construction,   Inc.,
Line    Techs,    Inc.    and    Schenck    Communications,    Inc.     The
consummation   of   these   proposed  transactions   is   contingent   upon
the   completion   of   due   diligence  analysis,   the   signing   of   a
definitive    purchase    and   sale   agreement,    approval    of    both
companies' boards of directors and other conditions.


                      ARGUSS HOLDINGS, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
               CONDITION AND RESULTS OF OPERATIONS



Results of Operations

Three Months Ended September 30, 1997 Compared to Three Months
Ended September 30, 1996.

The   Company   had   net  income  of  approximately   $610,000   for   the
three   months  ended  September  30,  1997  compared  to  net  income   of
$136,000   for   the   three  months  ended  September   30,   1996.    The
increase   in   net   income   was   due  primarily   to   the   profitable
results   of  WMC  whose  pretax  income  was  $1,300,000.  (See   Note   E
to Consolidated Financial Statements).

Net    sales   for   the   three   months   ended   September   30,    1997
increased   $10,096,000   or   248%  to  approximately   $14,168,000   from
approximately   $4,072,000   for   the   three   months   ended   September
30,  1996  due  primarily  to  the  acquisition  of  WMC  which  had  sales
of    $8,097,000   and   to   Conceptronic's   increase   in    sales    of
$845,000   or   21%.    Conceptronic  sales  for  the  third   quarter   of
1997   were   favorably  impacted  by  increased   bookings   of   22%   or
$847,000   during   the  quarter.   The  increase  in  Conceptronic   sales
resulted   from   concerted   efforts  to   increase   market   penetration
in the SMT circuit assembly equipment industry.

Gross   profit   margin,  excluding  depreciation,   was   32%   of   sales
for   the   three  months  ended  September  30,  1997  compared   to   32%
for   the  comparable  period  in  1996.   WMC  had  approximately  a   31%
gross   profit   margin  for  the  three  month  period  in   1997,   while
Conceptronic    improved   its   margins   to    36%    through    improved
absorption   of   manufacturing  costs   and   by   higher   sales   levels
with a product mix which had favorable margins.

Selling,    general   and   administrative   expenses   for    the    three
months   ended   September   30,   1997   were   $2,374,000   compared   to
$830,000   for   the  comparable  period  one  year  ago.    The   increase
was   largely   due  to  the  acquisition  of  WMC,  which  accounted   for
$668,000   in   expenses  as  well  as  increased  costs  at   Conceptronic
for infrastructure expenditures.

Depreciation   expense  increased  to  $376,000  for   the   three   months
ended   September   30,   1997   compared  to   $86,000   for   the   three
months   ended  September  30,  1996  due  primarily  to  WMC   which   had
$260,000 of depreciation expense.

In   the   first  quarter  of  1997,  the  Company  acquired  WMC   for   a
purchase   price   of   approximately  $17,200,000   which   consisted   of
1,571,326  shares  of  Common  Stock,  $  .01  par  value  per  share,   of
the   Company   and   approximately  $8,642,000  in  cash.    The   Company
has    classified    as    goodwill   approximately   $15,700,000,    which
represents   the   cost  in  excess  of  the  fair   value   of   the   net
assets    of    WMC,   which   was   accounted   for    as    a    purchase
transaction.    Goodwill   is   being   amortized   using   the   straight-
line   method   over  20  years  resulting  in  goodwill  amortization   of
$197,000 for the three months ended September 30, 1997.

The   Company   acquired,  effective  September  1,   1997,   through   its
wholly   owned   subsidiary  WMC,  the  assets   of   TCS   Communications,
Inc. ("TCS") headquartered in Palm Harbor, Florida.

TCS   provides   underground   and   aerial   construction   services   and
splicing    for    fiber    optic    and    coaxial    cable    to    major
telecommunications   customers   on  a  national   level.    The   purchase
price   for  TCS'  assets  was  approximately   $10,000,000,   and   was
satisfied   by  the  issuance  of  approximately  1,170,000   shares   of
the   Company's  common  stock.   Of  this  amount,  662,000  shares   were
issued   at   closing   representing  approximately   $5,000,000   of   the
purchase   price.    The   total  number  of  shares   of   the   Company's
common   stock  to  be  issued  will  change  as  the  Company  has  agreed
to   issue   sufficient  shares  of  common  stock  to  provide  $5,000,000
in   value   for  the  remainder  of  the  purchase  price.   As   at   the
acquisition   date,   the   number  of  such   shares   of   common   stock
required   to   realize   $5,000,000  will  be   known   when   TCS   sells
these shares in market transactions within ninety days.

The    TCS   purchase   agreement   contains   provision   for   additional
payments   by  the  Company  to  the  TCS  shareholders  to  be   satisfied
by   the  issuance  of  the  Company's  common  stock  if  certain  minimum
EBITDA   thresholds  are  met  for  the  year  ended  August  31,    1998.
One-half   of   the   additional  payment  will   be   satisfied   by   the
issuance   of   shares  of  common  stock  valued  at  $6.40   per   share.
The  second  half  of  the  payment  will  be  satisfied  by  the  issuance
of   shares   of   common   stock  valued  at  prevailing   market   prices
during   the   ninety   day  period  following  August   31,   1998.    Any
additional   payments  earned  under  the  terms  of  the  agreement   will
be recorded as an increase of the total acquisition price.

The   TCS   acquisition  has  been  accounted  for  as  a  purchase.    The
excess  of  the  total  acquisition  cost  over  the  fair  value  of   the
net   assets   acquired   of   $6,716,000  is  being   amortized   by   the
straight-line   method   over  twenty  years  resulting   in   $28,000   of
goodwill   amortized   for   the   three   months   ended   September   30,
1997.

Net    interest   expense   for   the   three   months   ended    September
30,1997   was   $104,000   compared   to   $46,000   for   the   comparable
period  one  year  ago.   The  WMC  net  interest  expense  for  the  third
quarter of 1997 was $77,000.

Income   tax  expense  increased  from  zero  to  $630,000  due   primarily
to the profitable operations of WMC.


Nine   Months   Ended   September  30,  1997  Compared   to   Nine   Months
Ended September 30, 1996.

The   Company   had  net  income  of  approximately  $2,002,000   for   the
nine   months   ended  September  30,1997  compared  to  a  net   loss   of
$126,000   for   the   comparable  period  of  1996.    During   the   nine
months   ended  September  30,  1997  improvement  in  earnings   was   due
primarily   to   the  profitable  results  of  WMC  whose   pretax   income
was   $3,404,000   and  whose  results  are  included  commencing   January
1,   1997.    The   increase  in  Conceptronic's  pretax   operating   loss
to    $366,000   for   the   nine   months   ended   September   30,   1997
compared   to   a  pretax  loss  of  $126,000  in  the  comparable   period
one   year   ago   is   due   to   increased   operating   expenses.   (See
discussion below.)

Net   sales   for   the  nine  months  ended  September   30,   1997   were
approximately    $35,826,000    compared    to    $11,632,000    for    the
comparable  period  of  1996,  an  increase  of  208%.   The  increase   is
primarily   due   to  WMC  sales  of  $21,026,000  and   an   increase   of
$2,014,000   or   17%   in  Conceptronic  sales   for   the   nine   months
ended    September   30,   1997   which   were   favorably   impacted    by
increased   bookings  of  17%  or  $1,944,000  during   the   nine   months
ended   September   30,   1997.   The  increase   in   Conceptronic   sales
resulted   from   concerted   efforts  to   increase   market   penetration
in the SMT circuit-assembly equipment industry.

Gross   profit   margin,   excluding  depreciation,   was   32%   for   the
nine   months   ended  September  30,  1997  compared  to   32%   for   the
same   period   in   1996.   WMC  had  a  31%  gross  profit   margin   and
Conceptronic    improved   its   margins   to    34%    through    improved
absorption   of  manufacturing  costs  by  higher  sales  levels   with   a
product mix, which has favorable margins.

Selling,   general  and  administrative  expenses  for  the   nine   months
ended   September   30,  1997  were  $5,943,000  compared   to   $2,675,000
for   the   same  period  in  1996.   The  increase  is  largely   due   to
WMC,   which   accounted   for   $1,799,000   of    these   expenses   and
increased   costs   at  Conceptronic,  which  was   the   result   of   its
infrastructure expenditures.

Depreciation   expense   was   $824,000   for   the   nine   months   ended
September   30,   1997   compared  to  $254,000   for   the   nine   months
ended   September  30,  1996  due  primarily  to  WMC  which  had  $590,000
of depreciation expense.

Net   interest   expense   for  the  nine  months   ended   September   30,
1997   was  $250,000  compared  to  $137,000  for  the  comparable   period
of   1996.    The   WMC   net  interest  expense  was  $186,000   for   the
first   nine  months  of  1997.   Conceptronic's  expense  for   the   nine
months   ended   September  30,  1997  decreased  $37,000,   to   $100,000,
due   to   reduced   average   amounts   outstanding   under   its   credit
line.     These    amounts    were   partially   offset    by    short-term
interest income.

Income    tax    expense   increased   from   zero   to   $1,003,000    due
primarily   to   the   profitable  operations  of   WMC.    The   effective
income   tax   rate   was  reduced  as  a  result  of  the   reversing   of
valuation    allowances   previously   recorded    against    the    entire
deferred tax asset of $554,000.

Liquidity and Capital Resources

Net   cash   provided   by   operations   for   the   nine   months   ended
September  30,  1997  improved  to  $522,000  from  a  net  use  of   cash
of   $298,000  for  the  nine  months  ended  September  30,   1996.    The
positive   impact   of   the   WMC  acquisition   is   reflected   in   the
$632,000   positive   cash   flow  from  operations   that   WMC   provided
during   the   nine  months  ended  September  30,  1997.    The   negative
cash   flow  from  Conceptronic  operations  for  the  nine  months   ended
September  30,  1997  is  due  to  the pretax  loss  of  $366,000  for  the
nine    months   ended   September   30,   1997   and   an   increase    in
inventories  to  support  on  time  reflow  oven  deliveries.    Net   cash
used    for    investing   activities   for   the   nine    months    ended
September   30,   1997  was  $12,609,000,  compared  to  $58,000   in   the
comparable   period   of  1996.   The  increase  in  investing   activities
is   primarily  due  to  the  acquisition  of  WMC  and  TCS,  as  well  as
its    capital    equipment   acquisition   program   to   support    WMC's
continued   sales   growth.    Net  cash  flows   provided   by   financing
activities   was   $4,930,000   for  the  nine   months   ended   September
30,   1997   compared   to   net   cash   flows   provided   by   financing
activities   of  $358,000  for  the  comparable  period   in   1996.    The
net   increase   reflects   the  proceeds  from   the   Company's   working
capital and equipment acquisition credit lines.

The   acquisition   of   WMC   significantly   impacted   various   balance
sheet   accounts   during   1997.    Cash   declined   by   $7,157,000   to
$3,161,000   due  primarily  to  the  WMC  acquisition,  which   used   net
cash    of    $8,879,000.    Accounts   receivable   increased   $9,707,000
primarily  due  to  the  consolidation  of  WMC  and  TCS  receivables   of
$9,051,000   and   the   increased   quarter   end   sales   activity    at
Conceptronic.    Long-term   debt  increased   $4,362,000   due   primarily
to the addition of WMC's and TCS'$4,399,000 in long-term debt.

The   Company   has   $4,500,000  in  revolving  lines   of   credit   with
commercial   banks   of   which   $4,100,000   was   drawn   down   as   of
September   30,   1997   to   fund  increased   inventories   and   capital
asset purchases.

Arguss   continues   to   actively  pursue  acquisitions   in   the   cable
construction    industry.    Subject   to   due   diligence    and    other
considerations,    the    Company's   commercial   banking    relationships
have   supported   the   acquisition   program   by   expansion   of    the
Company's    credit   facilities   for   equipment   financing,   revolving
lines of credit and acquisition financing facilities.

The    Company    believes   it   has   sufficient    cash    flows    from
operations,   cash  on  hand,  and  availability  under  its  credit   line
to meet its liquidity needs for the foreseeable future.

                      ARGUSS HOLDINGS, INC.
                             PART II
                        Other Information

     Item    1:   Legal   proceedings:   On   December   13,   1991,    the
Company   was   served   with  a  complaint  from   Vitronics   Corporation
("Vitronics"),   one   of  the  Company's  competitors,   alleging   patent
infringement    involving   its   reflow   soldering   ovens.     Vitronics
sought    an   injunction,   together   with   unspecified   damages    and
costs.     The   claim   was   filed   in   the   United   States   Federal
District Court, District of New Hampshire.

In   August   1995,   the   U.S.   District   Court   issued   a   directed
verdict    of   non-infringement   in   the   Company's   favor   regarding
method   patent   #4,654,502.   Additionally,  a   decision   was   reached
on   the   apparatus  patent  #4,833,301  by  a  jury,  which  found   non-
infringement    on    all    past   and   current    Conceptronic    ovens.
Vitronics   appealed  the  directed  verdict  on  patent   #4,654,502   and
the   United  States  Court  of  Appeals  for  the  First  Circuit  ("Court
of   Appeals")   subsequently   reversed  and   remanded   the   case   for
further    proceeding.    In   October   1997,   the   Court   of   Appeals
administratively dismissed the case.

In   related   actions,   in   April  1997,  the   United   States   Patent
Office    ("PTO")   rejected   certain   claims   of   Vitronics'    patent
#4,654,502   as  being  unpatentable.   This  decision  by  the   PTO,   if
upheld   on   appeal,   should   terminate   the   pending   lawsuit.    In
December   1996,  the  Company  named  Vitronics  and  its   Chairman   and
CEO,  James  Manfield  in  a  lawsuit,  filed  in  Superior  Court  of  the
State   of   New   Hampshire,  citing  malicious  prosecution   and   abuse
of   process.    The  suit  claims  that  Vitronics,  when   it   initiated
the   1991   patent  infringement  case  against  Conceptronic,   knew   or
should  have  known  that  the  suit  was  without  merit  and  that  claim
1  of  U.S.  Patent  #4,883,301  was  invalid,  unenforceable,  and  as  a
consequence the patent was not infringed.

In    the   opinion   of   counsel,   the   ultimate   outcome   of    this
litigation   cannot   presently   be   determined.    Management   of   the
Company   believes  that  Vitronics'  claim  is  without  merit  and   that
the   Company   will   ultimately  prevail.   Accordingly,   no   provision
has   been   made  in  the  accompanying  financial  statements   for   any
potential liability that might result.


     Items 2, 3, 4 and 5: Not Applicable.

     Item 4: Submission of Matters to a Vote of Security Holders.

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

          (a)  11a Statement Regarding Computation of Per Share Earnings

               27 Financial Data Schedule

          (b)  Reports on Form 8-K

     In a report on Form 8-K, dated September 19, 1997, the
     Company reported under item 2, "Acquisition or Disposition
     of Assets," the acquisition by the company, through a
     wholly owned subsidiary, of TCS Communications, Inc.  As an
     exhibit on Form 8-K, the company reported under item 7 -
     Financial Statements and Exhibits - the audited balance
     sheet of TCS Communications, Inc. as of December 31, 1996
     and 1995, and related statements of income, retained
     earnings and cash flow for the years then ended, as well as
     the unaudited pro forma balance sheet of Arguss as of June
     30, 1997 and unaudited statements of operations for the
     fiscal year ended December 31, 1996 and for the six months
     ended June 30, 1997 giving effect to the pro forma impact
     of the acquisition of TCS.


                           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.

                                   Arguss Holdings, Inc.



November 10, 1997                    By: \\Rainer H. Bosselmann
                                     Rainer H. Bosselmann
                                     Chief Executive Officer

November 10, 1997                    By: \\ Arthur F. Trudel
                                     Arthur F. Trudel
                                     Principal Financial Officer
                                     and Principal
                                     Accounting Officer