SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 10-Q


[X]  Quarterly report pursuant to Section 13 or 15(d) of the Securities
     Exchange Act of 1934

     For the quarterly period ended December 1, 1995

                                       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 1-5034


                               CORE INDUSTRIES INC
             (Exact name of registrant as specified in its charter)


       Nevada                                         38-1052434
(State or other jurisdiction of            (I.R.S. Employer Identification No.)
 incorporation or organization)

P. O. Box 2000, Bloomfield Hills, Michigan              48304
 (Address of principal executive offices)             (Zip Code)

Registrant's telephone number, including area code:  (810) 642-3400

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 [ ]

Common Stock outstanding at December 31, 1995 - 10,684,464 shares.
<PAGE>
<TABLE>
                      CORE INDUSTRIES INC AND SUBSIDIARIES

                       CONSOLIDATED STATEMENT OF EARNINGS
                                   (UNAUDITED)
<CAPTION>
                                                                                         First Quarter Ended
                                                                                  Nov. 30, 1994       Dec. 1, 1995
<S>                                                                               <C>                 <C>
Net sales                                                                           $43,187,000        $46,437,000

Cost of sales, exclusive of depreciation and amortization                           $27,724,000        $29,999,000
Depreciation and amortization                                                           992,000          1,210,000
Selling, general and administrative expenses                                         10,369,000         10,760,000
Interest expense                                                                        896,000            805,000
Other income                                                                           (294,000)          (127,000)
                                                                                    -----------        -----------
                                                                                    $39,687,000        $42,647,000

Earnings from continuing operations before taxes on income                           $3,500,000         $3,790,000

Taxes on income                                                                       1,250,000          1,380,000
                                                                                    -----------        -----------

Earnings from continuing operations                                                  $2,250,000         $2,410,000

Income (loss) from discontinued operations (net of income tax)                         (229,000)              --
                                                                                    -----------        -----------

Net earnings                                                                         $2,021,000         $2,410,000
                                                                                    ===========        ===========


Net earnings (loss) per share:
     Continuing operations                                                                 $.23               $.25
     Discontinued operations                                                               (.02)              --
                                                                                    -----------        -----------

     Net earnings                                                                          $.21               $.25
                                                                                    ===========        ===========

Dividends per share                                                                        $.06               $.06
                                                                                    ===========        ===========

Average shares of stock outstanding                                                   9,809,000          9,827,000
                                                                                    ===========        ===========
<FN>
See notes to financial statements
</FN>
</TABLE>
                                      -2-
<PAGE>
<TABLE>
                      CORE INDUSTRIES INC AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEET

                                     ASSETS
<CAPTION>
                                                                                                      Dec. 1, 1995
                                                                                   Aug. 31, 1995       (Unaudited)
<S>                                                                               <C>                 <C>
CURRENT ASSETS:
     Cash and cash equivalents                                                       $1,135,000           $537,000
     Accounts receivable, less collection allowances of
         $1,020,000 at August 31 and $1,062,000 at December 1                        44,214,000         43,941,000
     Inventories                                                                     41,276,000         41,913,000
     Prepaid expenses                                                                   157,000            504,000
     Deferred taxes on income                                                         5,447,000          5,487,000
     Net assets held for disposition                                                 16,089,000         16,780,000
                                                                                   ------------       ------------

         TOTAL CURRENT ASSETS                                                      $108,318,000       $109,162,000
                                                                                   ------------       ------------

PROPERTY, PLANT AND EQUIPMENT:
     Land and land improvements                                                        $896,000           $896,000
     Buildings                                                                       17,746,000         17,778,000
     Machinery and equipment                                                         36,532,000         37,035,000
                                                                                   ------------       ------------
         Total                                                                      $55,174,000        $55,709,000
     Less accumulated depreciation                                                   32,332,000         33,371,000
                                                                                   ------------       ------------

         TOTAL PROPERTY, PLANT AND EQUIPMENT                                        $22,842,000        $22,338,000
                                                                                   ------------       ------------

OTHER ASSETS:
     Excess of cost over net assets of companies acquired                            $6,774,000         $6,701,000
     Investment in real estate partnership                                            1,323,000          1,319,000
     Note receivable                                                                  1,500,000          1,500,000
     Prepaid pensions and other                                                       5,490,000          5,764,000
                                                                                   ------------       ------------

         TOTAL OTHER ASSETS                                                         $15,087,000        $15,284,000
                                                                                   ------------       ------------

                                                                                   $146,247,000       $146,784,000
<FN>
See notes to financial statements
</FN>
</TABLE>
                                      -3-
<PAGE>
<TABLE>
                      CORE INDUSTRIES INC AND SUBSIDIARIES

                     CONSOLIDATED BALANCE SHEET (continued)

                       LIABILITIES & STOCKHOLDERS' EQUITY
<CAPTION>
                                                                                                      Dec. 1, 1995
                                                                                  Aug. 31, 1995        (Unaudited)
<S>                                                                               <C>                 <C>
CURRENT LIABILITIES:
     Notes payable                                                                     $787,000         $1,487,000
     Accounts payable                                                                 7,581,000          8,468,000
     Accrued payroll and other expenses                                              12,385,000          9,556,000
     Dividends payable                                                                  589,000            590,000
     Taxes on income                                                                  2,041,000          1,966,000
     Long-term debt due within one year                                               4,610,000          4,610,000
                                                                                   ------------       ------------

         TOTAL CURRENT LIABILITIES                                                  $27,993,000        $26,677,000
                                                                                   ------------       ------------

LONG-TERM DEBT, less amount due within one year                                      32,609,000         32,499,000

DEFERRED TAXES ON INCOME                                                              1,690,000          1,810,000

ACCRUED EMPLOYEE BENEFITS                                                             2,942,000          2,962,000

STOCKHOLDERS' EQUITY:
     Preferred stock, par value $1:
         Authorized - 100,000 shares
         Issued - none
     Common stock, par value $1:
         Authorized - 20,000,000 shares
         Issued - 11,237,341 shares                                                 $11,237,000        $11,237,000
     Additional paid-in capital                                                         999,000          1,001,000
     Retained earnings                                                               74,499,000         76,320,000
     Cumulative translation adjustments                                                 976,000            976,000
     Treasury stock (1,410,160 shares) - at cost                                     (6,698,000)        (6,698,000)
                                                                                   ------------       ------------

         TOTAL STOCKHOLDERS' EQUITY                                                 $81,013,000        $82,836,000
                                                                                   ------------       ------------

                                                                                   $146,247,000       $146,784,000
<FN>
See notes to financial statements
</FN>
</TABLE>
                                      -4-
<PAGE>
<TABLE>
                      CORE INDUSTRIES INC AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<CAPTION>
                                                                                        First Quarter Ended
                                                                                  Nov. 30, 1994       Dec. 1, 1995
<S>                                                                               <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net earnings                                                                    $2,021,000         $2,410,000
     Adjustments to reconcile net earnings to
         net cash provided by operating activities:
              Depreciation                                                             $919,000         $1,093,000
              Amortization                                                               73,000            117,000
              Discontinued operations                                                   229,000               --
              (Increase) decrease in assets:
                  Accounts receivable                                                   371,000            273,000
                  Inventories                                                        (1,622,000)          (637,000)
                  Prepaid expenses                                                      262,000           (347,000)
                  Taxes on income                                                        37,000            (75,000)
                  Deferred taxes on income                                               90,000             80,000
              Increase (decrease) in liabilities:
                  Accounts payable                                                      138,000            887,000
                  Accrued payroll and other expenses                                 (1,933,000)        (2,829,000)
                                                                                  -------------       ------------
                      TOTAL ADJUSTMENTS                                             ($1,436,000)       ($1,438,000)
                                                                                  -------------       ------------

              NET CASH PROVIDED BY OPERATING ACTIVITIES                                $585,000           $972,000

CASH FLOWS FROM INVESTING ACTIVITIES:
     Capital expenditures                                                           ($1,291,000)         ($583,000)
     Discontinued operations                                                           (429,000)          (690,000)
     Other                                                                               70,000           (297,000)
                                                                                  -------------       ------------
              NET CASH USED IN INVESTING ACTIVITIES                                 ($1,650,000)       ($1,570,000)

CASH FLOWS FROM FINANCING ACTIVITIES:
     Net borrowings on short-term bank loans                                               --             $700,000
     Reductions in long-term debt                                                      ($76,000)          (110,000)
     Cash dividends paid                                                               (589,000)          (590,000)
                                                                                  -------------        -----------
              NET CASH USED IN FINANCING ACTIVITIES                                   ($665,000)                $0
                                                                                  -------------        -----------
              NET DECREASE IN CASH AND CASH EQUIVALENTS                              (1,730,000)          (598,000)
              CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                         14,643,000          1,135,000
                                                                                  -------------       ------------
              CASH AND CASH EQUIVALENTS, END OF PERIOD                              $12,913,000           $537,000
                                                                                  =============       ============

SUPPLEMENTAL CASH FLOW DISCLOSURES:
     Interest paid                                                                   $1,394,000         $1,325,000
                                                                                  =============       ============
     Income taxes paid                                                               $1,162,000         $1,374,000
                                                                                  =============       ============
<FN>
See notes to financial statements
</FN>
                                      -5-
</TABLE>
<PAGE>

                      CORE INDUSTRIES INC AND SUBSIDIARIES

                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE A

     The accompanying  consolidated financial statements reflect all adjustments
which are, in the opinion of  management,  necessary to a fair  statement of the
information  presented  therein,  and such adjustments are of a normal recurring
nature.  Effective in Fiscal 1996, the Company changed its accounting periods to
a fixed 13 weeks per quarter.

NOTE B

     Reference is made to the Company's  Annual Report on Form 10-K for the year
ended  August 31,  1995,  for a  description  of  accounting  policies and other
detailed footnote information.

NOTE C - Inventories
<TABLE>
<CAPTION>
                                                   August 31,       December 1,
                                                      1995              1995
                                                  -----------       -----------
     <S>                                          <C>               <C>
     Raw materials and supplies                   $17,734,000       $17,149,000
     Work in process                                8,225,000         8,280,000
     Finished goods                                15,317,000        16,484,000
                                                  -----------       -----------
                                                  $41,276,000       $41,913,000
</TABLE>

NOTE D - Subsequent Event

     On  December  15,  1995,  the  Company  acquired  the  common  stock of CMB
Industries,  a privately held producer of specialty valves, with annual revenues
of  approximately  $30  million.  The  transaction  will be  accounted  for as a
purchase.  The capital investment included a combination of debt assumptions and
notes payable issued totaling  approximately $13.5 million and 857,283 shares of
the Company's common stock, which stock was valued at $13.50 per share.

NOTE E - Product Segment Information
  
     The  Company  classifies  its  products  and  services  into three  general
segments. Financial information by segment is summarized below.
<TABLE>
<CAPTION>
                                                                                            Earnings (Loss)
                                                                                                Before
                                                                             Net Sales        Income Taxes
<S>                                                                         <C>                <C>
First quarter ended December 1, 1995:
     Fluid Controls and Construction Products                                $20,826,000       $ 3,006,000
     Test, Measurement and Control                                            16,224,000         1,618,000
     Farm Equipment                                                            9,387,000           935,000
     Corporate unallocated                                                        -               (964,000)
     Interest expense                                                             -               (805,000)
                                                                            ------------       -----------
         Total                                                              $ 46,437,000       $ 3,790,000
                                                                            ============       ===========
First quarter ended November 30, 1994:
     Fluid Controls and Construction Products                                $19,213,000       $ 2,709,000
     Test, Measurement and Control                                            13,618,000         1,157,000
     Farm Equipment                                                           10,356,000         1,510,000
     Corporate unallocated                                                        -               (981,000)
     Interest expense                                                             -               (895,000)
                                                                            ------------       -----------
         Total                                                              $ 43,187,000       $ 3,500,000
                                                                            ============       ===========
</TABLE>
                                      -6-
<PAGE>
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


RESULTS OF OPERATIONS

     Net  earnings  for the  first  quarter  of  fiscal  1996  increased  19% to
$2,410,000 or $.25 per share on sales of  $46,437,000  compared with last year's
first  quarter net  earnings of  $2,021,000,  net earnings per share of $.21 and
sales  of  $43,187,000.   Last  year's  first  quarter   included  a  loss  from
discontinued operations of $229,000 ($.02 per share).

     For the first  quarter of fiscal 1996,  the  Company's  Fluid  Controls and
Construction  Products Group provided 45% of total sales; the Test,  Measurement
and Control  Group,  35% of total sales;  and the Farm Equipment  Group,  20% of
sales.  The sales and earnings of the Fluid Controls and  Construction  Products
Group increased 8% and 11%,  respectively,  compared with the prior year's first
quarter  primarily  due to the  improved  performance  of its valve and strainer
products.  The Test,  Measurement  and Control  Group had a strong first quarter
with sales and earnings up 19% and 40%, respectively, over last year, benefiting
from  internal  growth  programs  and the  contribution  of Promax,  acquired in
January,  1995. The Farm Equipment Group,  feeling the effects of a softening of
the farm economy  brought  about by difficult  weather  conditions  earlier this
year, had sales and earnings behind last year by 9% and 38%, respectively.

     Overall  gross  margins on net sales for the first  quarter of fiscal  1996
decreased  to 35.4% from 35.8%  last year as a result of  product  mix  changes.
Selling, general and administrative expenses decreased to 23.2% of sales in this
year's first quarter from 24% last year, primarily due to lower sales expenses.

     Interest  expense declined 10.2% in this year's first quarter compared with
last year due to reduced borrowings.


LIQUIDITY AND CAPITAL RESOURCES

     At December 1, 1995, the Company had working capital of $82.5 million and a
current ratio of 4.1 to 1, and the Company's  capital  employed  (total debt and
equity) amounted to $120 million.  Capital consisted of 31% debt and 69% equity,
an improvement from 36% debt of total capital employed a year ago.

     Management believes its current cash position,  cash flows from operations,
along with its  borrowing  capacity,  are  adequate to fund its  strategies  for
future  growth,  including  working  capital,   expenditures  for  manufacturing
expansion and efficiencies, and acquisition activities. At the Company's current
dividend rate of $.06 per share, annual dividend payments would approximate $2.6
million.  Under the Company's debt agreement with insurance companies,  retained
earnings of  approximately  $22 million are available for dividends,  subject to
future earnings levels.

     The  Company is in  negotiations  to dispose  of its  previously  announced
discontinued Cherokee operation. It is anticipated that this transaction will be
closed before the end of the Company's fiscal year and will generate significant
cash for the Company.

     Effective  on December  2, 1995,  the  beginning  of the  Company's  second
quarter,  the Company  acquired  CMB  Industries  in a merger  transaction.  The
capital investment  included a combination of debt assumptions and notes payable
issued totaling  approximately $13.5 million and 857,283 shares of the Company's
common stock,  which stock was valued at $13.50 per share. The necessary cash to
facilitate  the  transaction  was  borrowed  under  the  Company's  $20  million
unsecured bank line of credit.

                                      -7-
<PAGE>
                           PART II - OTHER INFORMATION

         Items  1  through  5 of  Part  II are  omitted  because  they  are  not
applicable or because they are not required.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits

                   27 - Financial Data Schedule

         (b)  There were no reports on Form 8-K filed for the quarter  ended
              December 1, 1995.

                                      -8-
<PAGE>
                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) 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.

                              CORE INDUSTRIES INC
                              --------------------------------------------------
                              (Registrant)


Date:  January 5, 1996        /s/ RAYMOND H. STEBEN, JR.
       ---------------        --------------------------------------------------
                              Raymond H. Steben, Jr.
                              Vice President-Finance and Chief Financial Officer


Date:  January 5, 1996        /s/ THOMAS G. HOOPER
       ---------------        --------------------------------------------------
                              Thomas G. Hooper
                              Treasurer and Controller


                                      -9-
<PAGE>
                               INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT                 DESCRIPTION

<S>                     <C>
*27                     Financial Data Schedule
</TABLE>
*Filed herewith