<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, 1997, June 30, 1997 and September 30, 1997 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-31-1997    JUN-30-1997    SEP-30-1997
<PERIOD-END>                            MAR-31-1997    JUN-30-1997    SEP-30-1997
<CASH>                                   1,555,210        834,115        944,742
<SECURITIES>                                     0              0              0
<RECEIVABLES>                            5,403,590      6,162,219      9,884,911
<ALLOWANCES>                                     0              0              0
<INVENTORY>                             13,056,872     14,262,995     16,646,123
<CURRENT-ASSETS>                        20,512,067     21,626,797     27,884,202
<PP&E>                                  10,786,348     10,940,332     10,619,477
<DEPRECIATION>                           5,141,323      5,316,691      5,120,495
<TOTAL-ASSETS>                          29,337,390     30,402,137     36,331,284
<CURRENT-LIABILITIES>                    6,925,428      7,541,726     11,719,419
<BONDS>                                  5,249,033      5,210,444      5,171,506
<PREFERRED-MANDATORY>                            0              0              0
<PREFERRED>                                      0              0              0
<COMMON>                                 2,978,867      2,978,867      3,008,867
<OTHER-SE>                              14,184,062     14,671,100     16,100,492
<TOTAL-LIABILITY-AND-EQUITY>            29,337,390     30,402,137     36,331,284
<SALES>                                  9,188,688     19,722,224     34,585,064
<TOTAL-REVENUES>                         9,217,808     19,861,131     34,842,586
<CGS>                                    5,834,214     12,602,683     22,725,294
<TOTAL-COSTS>                            5,834,214     12,602,683     22,725,294
<OTHER-EXPENSES>                                 0              0              0
<LOSS-PROVISION>                                 0              0              0
<INTEREST-EXPENSE>                         104,838        293,641        500,934
<INCOME-PRETAX>                            593,474      1,386,512      2,910,068
<INCOME-TAX>                               232,000        538,000      1,190,000
<INCOME-CONTINUING>                        361,474        848,512      1,720,068
<DISCONTINUED>                                   0              0        542,937
<EXTRAORDINARY>                                  0              0              0
<CHANGES>                                        0              0              0
<NET-INCOME>                               361,474        848,512      2,262,905
<EPS-PRIMARY>                                  .12            .28            .75
<EPS-DILUTED>                                  .10            .24            .64
<FN>
<F1> ACCOUNTS RECEIVABLE ARE NET OF ALLOWANCE
</FN>



</TABLE>