<TABLE> <S> <C>


<ARTICLE>                     5
<LEGEND>
This restated financial data schedule contains summary financial information
extracted from the consolidated financial statements included in P & F
Industries, Inc.'s quarterly reports on Form 10-Q for the quarters ended March
31, 1996, June 30, 1996 and September 30, 1996 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
<RESTATED>

<S>                                 <C>               <C>           <C>
<PERIOD-TYPE>                       3-MOS             6-MOS         9-MOS
<FISCAL-YEAR-END>                       MAR-31-1996    JUN-30-1996    SEP-30-1996
<PERIOD-END>                            MAR-31-1996    JUN-30-1996    SEP-30-1996
<CASH>                                   1,287,068        779,667      1,110,691
<SECURITIES>                                     0              0              0
<RECEIVABLES>                            6,122,691      6,358,734      8,117,591
<ALLOWANCES>                                     0              0              0
<INVENTORY>                             15,093,239     14,944,854     13,081,695
<CURRENT-ASSETS>                        23,304,134     22,797,481     23,037,657
<PP&E>                                  10,912,629     11,015,894     11,088,039
<DEPRECIATION>                           4,937,748      5,082,420      5,248,104
<TOTAL-ASSETS>                          32,369,224     31,799,268     31,914,100
<CURRENT-LIABILITIES>                    7,068,418      6,305,985      5,835,197
<BONDS>                                  7,324,529      7,227,047      7,166,601
<PREFERRED-MANDATORY>                            0              0              0
<PREFERRED>                              2,633,460      2,633,450      2,633,450
<COMMON>                                 2,928,867      2,928,867      2,928,867
<OTHER-SE>                              12,413,960     12,703,919     13,349,985
<TOTAL-LIABILITY-AND-EQUITY>            32,369,224     31,799,268     31,914,100
<SALES>                                  9,334,135     18,927,735     31,785,290
<TOTAL-REVENUES>                         9,376,425     19,067,635     32,023,041
<CGS>                                    6,143,005     12,472,364     21,259,432
<TOTAL-COSTS>                            6,143,005     12,472,364     21,259,432
<OTHER-EXPENSES>                                 0              0              0
<LOSS-PROVISION>                                 0              0              0
<INTEREST-EXPENSE>                         231,516        432,885        626,938
<INCOME-PRETAX>                            560,293      1,142,089      2,278,991
<INCOME-TAX>                               210,000        436,000        861,000
<INCOME-CONTINUING>                        350,293        706,089      1,417,991
<DISCONTINUED>                                   0              0              0
<EXTRAORDINARY>                                  0              0              0
<CHANGES>                                        0              0              0
<NET-INCOME>                               350,293        706,089      1,417,991
<EPS-PRIMARY>                                  .10            .20            .42
<EPS-DILUTED>                                  .09            .18            .38
<FN>
<F1> ACCOUNTS RECEIVABLE ARE NET OF ALLOWANCE
</FN>



</TABLE>