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                               UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.  20549

                                 FORM 10-Q

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

         For the Quarterly Period Ended September 30, 1998
                               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 No. 1-8183

                           SUPREME INDUSTRIES, INC.
           (Exact name of registrant as specified in its charter)

            Delaware                                   75-1670945
(State or other jurisdiction of             (I.R.S. Employer Identification
incorporation or organization)               No.)

            65140 U.S. 33 East, P.O. Box 237, Goshen, Indiana  46528  
                  
                   (Address of principal executive offices)

Registrant's telephone number, including area code:(219) 642-3070     

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

Indicate the number of shares outstanding of each of the issuer's classes 
of common stock, as of the latest practicable date.

Common Stock ($.10 Par Value)              Outstanding at November 9, 1998
          Class A                                     9,351,018
          Class B                                     1,607,937

The index to Exhibits is at page 15 in the sequential numbering system.  
Total number of pages: 15.


                                Page 1 of 15

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                         SUPREME INDUSTRIES, INC.

                                CONTENTS

                                                             Page No.

 PART I.   FINANCIAL INFORMATION

   Item 1. Financial Statements:

           Consolidated Balance Sheets                         3 & 4

           Consolidated Statements of Income                       5

           Consolidated Statements of Cash Flows                   6

           Notes to Consolidated Financial Statements          7 & 8


   Item 2. Management's Discussion and Analysis of
           Financial Condition and Results of                 9, 10,
           Operations                                        11 & 12



 PART II.  OTHER INFORMATION

   Item 6. Exhibits and Reports on Form 8-K                       13

           Signatures                                             14

           Index to Exhibits                                      15

                                Page 2 of 15

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                      Part I. Financial Information
                      Item 1. Financial Statements

Supreme Industries, Inc. and Subsidiaries
Consolidated Balance Sheets

                                            September 30,   December 31,
                                               1998            1997
                                            -------------   ------------
Assets                                       (Unaudited)

Current assets:
   Cash and cash equivalents..............       $158,941       $159,044
   Accounts receivable, net...............     24,516,717     23,188,066
   Inventories............................     28,605,095     28,404,786
   Deferred income taxes..................        973,657        973,657
   Other current assets...................        642,233        803,442
                                             ------------   ------------
      Total current assets................     54,896,643     53,528,995
                                             ------------   ------------

Property, plant and equipment, at cost....     50,245,561     46,083,344
      Less, Accumulated depreciation and 
        amortization......................     18,380,847     16,522,903
                                             ------------   ------------
      Property, plant and equipment, net..     31,864,714     29,560,441


Intangible assets, net....................      1,552,903      1,705,385
Other assets..............................      1,023,608      1,079,491
                                             ------------   ------------
      Total assets........................    $89,337,868    $85,874,312
                                             ============   ============

The accompanying notes are a part of the consolidated financial statements.


                                Page 3 of 15

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Supreme Industries, Inc. and Subsidiaries
Consolidated Balance Sheets, Concluded

                                            September 30,   December 31,
                                               1998            1997
                                            -------------   ------------
Liabilities and Stockholders' Equity         (Unaudited)

Current liabilities:
   Current maturities of long-term debt....    $2,509,508     $2,119,692
   Trade accounts payable..................     7,542,513     10,433,051
   Accrued income taxes....................       743,162      1,098,111
   Other accrued liabilities...............     7,943,499      9,514,186
                                             ------------   ------------
      Total current liabilities............    18,738,682     23,165,040

Long-term debt.............................    17,557,769     17,359,703

Deferred income taxes......................       898,825        898,825
                                             ------------   ------------
      Total liabilities....................    37,195,276     41,423,568


Stockholders' equity.......................    52,142,592     44,450,744
                                             ------------   ------------
      Total liabilities and stockholders' 
        equity.............................   $89,337,868    $85,874,312
                                             ============   ============

The accompanying notes are a part of the consolidated financial statements.


                                Page 4 of 15

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Supreme Industries, Inc. and Subsidiaries
Consolidated Statements of Income (Unaudited)

                            Three Months Ended           Nine Months Ended
                               September 30,                September 30,
                         -------------------------  --------------------------
                            1998           1997          1998           1997
                         ------------ ------------  ------------  ------------
Revenues................. $51,406,038  $45,691,254  $168,221,575  $146,140,460

Costs and expenses:
   Cost of sales.........  43,165,665   38,648,059   138,891,672   121,564,238
   Selling, general 
     and administrative..   4,907,523    3,909,345    15,142,831    12,328,511
   Interest..............     397,766      299,194     1,304,205     1,062,419
                         ------------ ------------  ------------  ------------
                           48,470,954   42,856,598   155,338,708   134,955,168
                         ------------ ------------  ------------  ------------
      Income before 
        income taxes.....   2,935,084    2,834,656    12,882,867    11,185,292

Income taxes.............   1,222,000    1,134,000     5,291,000     4,468,000
                         ------------ ------------  ------------  ------------
      Net income.........  $1,713,084   $1,700,656    $7,591,867    $6,717,292
                         ============ ============  ============  ============


Earnings per share:
      Basic..............       $.15          $.14          $.66          $.58
      Diluted............        .15           .14           .66           .58


Shares used in the 
  computation of earnings 
  per share:
      Basic.............. 11,511,629    11,526,128    11,478,217    11,511,598
      Diluted............ 11,562,073    11,528,040    11,556,819    11,525,165

The accompanying notes are a part of the consolidated financial statements.


                                Page 5 of 15

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Supreme Industries, Inc. and Subsidiaries
Consolidated Statements of Cash Flows (Unaudited)

                                                Nine Months Ended
                                                  September 30,
                                         -------------------------------
                                               1998            1997
                                         --------------- ---------------
Cash flows from operating activities:
   Net income...........................      $7,591,867      $6,717,292
   Adjustments to reconcile net income 
     to net cash used in operating 
     activities:
        Depreciation and amortization...       2,225,910       2,092,984
        Loss on disposal of equipment...          86,998          11,679
        Changes in operating assets and 
          liabilities...................      (6,183,925)     (2,402,057)
                                         --------------- ---------------
      Net cash provided by operating 
        activities......................       3,720,850       6,419,898
                                         --------------- ---------------

Cash flows from investing activities:
   Additions to property, plant and 
     equipment..........................      (4,574,599)     (3,268,554)
   Proceeds from disposal of property, 
     plant and equipment................         109,900          53,150
   (Increase) decrease in other assets..          55,883          (6,952)
                                         --------------- ---------------
      Net cash (used in) investing 
        activities......................      (4,408,816)     (3,222,356)
                                         --------------- ---------------

Cash flows from financing activities:
   Proceeds from revolving line of 
     credit and other long-term debt....      77,312,374      58,559,938
   Repayments of revolving line of 
     credit and other long-term debt....     (76,724,492)    (61,802,447)
   Proceeds from exercise of stock 
     options............................         114,101          50,609
   Acquisition of treasury stock........         (14,120)            ---
                                         --------------- ---------------
      Net cash provided by (used in) 
        financing activities............         687,863      (3,191,900)
                                         --------------- ---------------
Increase (decrease) in cash and cash 
  equivalents...........................            (103)          5,642
Cash and cash equivalents, beginning of 
  period................................         159,044         220,678
                                         --------------- ---------------
Cash and cash equivalents, end of 
  period................................        $158,941        $226,320
                                         =============== ===============

Noncash investing and financing 
  activities:
     Common Stock dividends.............     $11,947,665      $7,866,397
     Class A Common Stock exchanged in
       exercise of stock options 
       (12,843 shares)..................         185,950             ---

The accompanying notes are a part of the consolidated financial statements.


                                Page 6 of 15

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SUPREME INDUSTRIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE A - BASIS OF PRESENTATION AND OPINION OF MANAGEMENT

The accompanying unaudited consolidated financial statements have been 
prepared in accordance with the instructions to Form 10-Q and therefore do 
not include all of the information and financial statement disclosures 
necessary for a fair presentation of consolidated financial position, results 
of operations and cash flows in conformity with generally accepted accounting 
principles.  In the opinion of management, the information furnished herein  
includes all adjustments necessary to reflect a fair statement of the interim 
periods reported.  All adjustments are of a normal and recurring nature.  The 
December 31, 1997 consolidated balance sheet data was derived from audited 
financial statements, but does not include all disclosures required by 
generally accepted accounting principles.


NOTE B - INVENTORIES

Inventories, which are stated at the lower of cost or market with cost 
determined on the first-in-first-out method, consist of the following:

                                  September 30,        December 31,
                                      1998                 1997    
                                  -------------        ------------

     Raw materials..............   $ 16,743,214        $ 16,896,669
     Work-in-progress...........      4,656,134           4,553,082
     Finished goods.............      7,205,747           6,955,035
                                  -------------        ------------
                                   $ 28,605,095        $ 28,404,786
                                  =============        ============

The valuation of raw materials, work-in-progress and finished goods 
inventories at interim dates is based upon a gross profit percentage method 
and bills of materials.  The Company has historically had favorable and 
unfavorable adjustments in the third and fourth quarters resulting from the 
annual physical inventories.  The Company is continuing to refine its costing 
procedures for valuation of interim inventories in an effort to minimize the 
annual book to physical inventory adjustments.


NOTE C - DEBT

On June 23, 1998 the Company signed an amendment to it's revolving credit 
agreement that increased it's borrowing availability to $18,000,000 from 
$14,000,000 for the period July 1 through January 31 and to $25,000,000 from 
$20,000,000 for the period February 1 through June 30.  The amendment also 
provides for the Company to reduce it's interest rate and commitment fee 
based on it's leverage ratio, as defined by the bank.  The amendment requires 
that working capital not fall below $10,000,000 ($36.2 million at 
September 30, 1998) and tangible capital funds not be less than $30,000,000 
plus an amount equal to 50% of cumulative net income ($50.6 million at 
September 30, 1998).  The amendment also deleted the covenants restricting 
dividend payments and limiting capital expenditures.  The term of the credit 
agreement has been extended through April 30, 2001.  The Company had $11.5 
million available under its revolving credit agreement on September 30, 1998.


                                Page 7 of 15

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On September 30, 1998 the Company borrowed $7,000,000 repayable in equal 
monthly principal payments of $116,667 through September 30, 2003.  The terms 
and conditions of the loan are subject to the Credit Agreement dated 
April 25, 1994, and as amended by the fourth amendment to the Credit 
Agreement dated September 30, 1998.  The Company also entered into an 
interest rate swap agreement that fixes the interest rate at 6.705% over the 
term of the loan.


NOTE D - STOCK DIVIDEND

On May 12, 1998, the Board of Directors declared a 5% common stock dividend 
payable on June 1, 1998, to shareholders of record on May 25, 1998.  On 
November 3, 1998, the Board of Directors declared a 5% common stock dividend 
to shareholders of record as of November 13, 1998 payable on November 20, 
1998.  All share and per share data have been adjusted to reflect these stock 
dividends on a retroactive basis.  


NOTE E - STOCK REPURCHASE PROGRAM

On September 2, 1998 the Board of Directors authorized the Company to 
repurchase up to 500,000 shares of Class A Common Stock in open market 
purchases or privately negotiated transactions through the close of business 
on February 26, 1999.  


                                Page 8 of 15

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NOTE F - EARNINGS PER SHARE

The Company has adopted the provisions of Statement of Financial Accounting 
Standards ("SFAS") No. 128, "Earnings Per Share," retroactively for all 
periods presented.  SFAS No. 128 requires the Company to present "basic" and 
"diluted" earnings per share.  Basic earnings per share is computed by 
dividing net income by the weighted average number of shares of common stock 
outstanding during the period.  Diluted earnings per share is computed by 
reflecting potential dilution from the exercise of outstanding stock options.


ITEM 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 
RESULTS OF OPERATIONS.

Results of Operations

Revenues for the quarter ended September 30, 1998 increased $5.7 million to 
$51.4 million while revenues for the nine months ended September 30, 1998 
increased $22.1 million to $168.2 million.  This compares to $45.7 million 
for the quarter and $146.1 million for the nine months ended September 30, 
1997.  Both basic and diluted earnings per share were $.15 for the quarter 
ended September 30, 1998 compared to $.14 for the quarter ended September 30, 
1997 while for the nine months ended September 30, 1998 both basic and 
diluted earnings per share were $.66 compared to $.58 for the comparable 
prior year period.  Basic and diluted earnings per share for all periods 
presented have been adjusted for the common stock dividends declared and paid 
in 1998 and 1997.  Each of the Company's product lines contributed to the 
increased revenues for both the quarter and nine months ended September 30, 
1998.  In addition each of the Company's manufacturing facilities experienced 
revenue growth for both the quarter and nine months ended September 30, 1998.  
The Company's new product lines, trolley cars, armored trucks and Spartan 
service van were responsible for approximately 6% of the Company's revenue 
growth for the nine months ended September 30, 1998.

The Company's gross profit percentage improved .6% for both the quarter and 
nine months ended September 30, 1998 to 16.0% from 15.4% for the quarter and 
to 17.4% from 16.8% for the nine months ended September 30, 1998.  Slight 
decreases in material costs, labor and overhead were responsible for the 
improvement in gross profit.


                                Page 9 of 15

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Selling, general and administrative expenses as a percentage of revenues were 
9.5% for the quarter ended September 30, 1998 and 9.0% for the nine months 
ended September 30, 1998.  The comparable prior year percentages were 8.6% 
for the quarter and 8.4% for the nine months ended September 30, 1997.  
Contributing to the increase were advertising and promotional costs in 
connection with the Company's new product lines as well as increased 
commissions related to the higher revenues.  Additionally, the Company is 
incurring expenses in connection with the implementation of a completely new 
operating information system that will enable the Company to process 
transactions in the year 2000 as well as provide better and more detailed 
analysis of the Company's product lines and operating facilities.

Interest expense as a percentage of revenues for the quarter and nine months
ended September 30, 1998 increased .1% to .8% compared to the comparable 
prior year periods.  The increase of $98,572 in the quarter and $241,786 for 
the nine months ended September 30, 1998 is a combination of pool chassis 
interest and borrowings under the Company's revolving credit line to finance 
higher levels of inventory and accounts receivable resulting from the 
increased revenues in 1998.

The effective income tax rate for the three and nine months ended 
September 30, 1998 was 41.6% and 41.1%, respectively, compared to 40.0% and 
39.9% for the three and nine months ended September 30, 1997.  The lower 
effective tax rate in 1997 was principally attributable to research and 
experimentation tax credits.


Liquidity and Capital Resources

Cash flows from operating activities combined with funds available under the 
Company's revolving credit agreement were adequate to finance operations and 
provide for capital expenditures during the nine months ended September 30, 
1998.  Net income of $7.6 million and depreciation and amortization of $2.1 
million were the primary sources of cash flow.  Higher levels of inventory 
and accounts receivable, as a result of the Company's increased revenues, 
were the most significant uses of cash flow during the nine months ended 
September 30, 1998.

The Company has invested $4.6 million in capacity expansions and equipment 
during the nine months ended September 30, 1998.  The largest expenditures 
were made at the Company's Goshen, Indiana; Jonestown, Pennsylvania and 
Griffin, Georgia manufacturing plants.  These additions were necessary to 
provide capacity for the increased demand for the Company's existing product 
lines as well as provide manufacturing space for the Company's new product 
lines, trolley cars, armored trucks and Spartan service vans.


                                Page 10 of 15

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The Company amended it's banking agreement on June 23, 1998 to increase the 
amount available under it's revolving credit facility and to provide for 
covenants more favorable to the Company.  The Company further amended it's 
bank agreement on September 30, 1998 to take advantage of the current low 
interest rates.  The amendment and a interest rate swap agreement provides 
for a $7 million dollar fixed rate loan at 6.7%.  These amendments are 
discussed further in Note C of the Notes To Consolidated Financial Statements.

The Company anticipates that cash flows from operations and amounts available 
under it's revolving line of credit will be sufficient to meet the Company's 
cash needs during the remaining part of 1998 and for the next twelve months.

The Company began preparation for the year 2000 issues during 1996.  An 
independent consulting group was engaged to conduct a complete analysis of 
the Company's system and operating requirements.  After review and approval 
by management, this analysis formed the basis for a request for quotation 
that was sent to several major software providers.  The final decision was 
made on the strength of the manufacturing software combined with the quality 
and level of expertise the software provider could furnish.

In late 1997 and continuing, the Company began devoting substantial time and 
resources to install a new information system.  Total cost of the operating 
software and consulting fees is approximately $600,000.  In addition, the 
Company has dedicated certain of it's personnel to the project.  An 
implementation team was formed of key employees from every major operating and 
support area of the Company.  The Company has an implementation schedule that 
has all of its operating systems year 2000 compliant by July 1, 1999.  The 
Company has successfully implemented the new operating software at it's 
fiberglass manufacturing facility.

Due to the uncertainty of the year 2000 readiness of third-party suppliers 
and customers, the Company is currently unable to determine whether the 
consequences of year 2000 failures by third-parties could have a material 
impact on the Company's operations.  The failure of third-parties to correct 
a material year 2000 problem could result in an interruption in, or failure 
of, certain normal business activities or operations of the Company.


                                Page 11 of 15

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The Company's hardwood flooring plant is located in La Ceiba, Honduras, which 
suffered major damage as a result of hurricane Mitch.  Though communication 
with the plant have been sporadic we have been in contact with our Honduran 
management.  At this time though it is difficult to estimate when the plant 
will resume supplying flooring to our domestic operations.  Electric power 
is still out.  Bridges and roads around the area have been destroyed.  Until 
repaired the Company will not be able to receive wood from the rain forest 
nor will it be able to move flooring from the plant to the port for shipment.
The Honduran plant had been supplying between 40 to 50% of the Company's 
flooring requirements.  Alternative supply arrangements have been made that 
will provide flooring on a timely basis to the Company under favorable terms.

The Company will closely monitor development and information coming out of 
Honduras.  Due to the extensive damage and devastation to the Honduran 
infrastructure the Company can not reasonably predict when the plant will 
resume supplying hardwood flooring.  Even if the decision is made to close 
down this operation management believes there will not be a material adverse 
effect to it's operations.

This report contains forward-looking statements, other than historical facts,
which reflect the view of the Company's management with respect to future 
events.  Although management believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that the
expectations reflected in such forward-looking statements are reasonable, and 
can give no assurance that such expectations will prove to have been correct.
Important factors that could cause actual results to differ materially from 
such expectations include, without limitation, limitations on the 
availability of chassis on which the Company's product is dependent, 
availability of raw materials and severe interest rate increases.  The 
Company assumes no obligation to update the forward-looking statements or to 
update the reasons actual results could differ from those contemplated by 
such forward-looking statements.

                                 Page 12 of 15

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                         PART II.   OTHER INFORMATION


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

        a) Exhibits:

           Exhibit 27 - Financial Data Schedule

        b) Reports on Form 8-K:  None

                                Page 13 of 15

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                                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.


                                       SUPREME INDUSTRIES, INC.

DATE: November 16, 1998                BY: /s/ROBERT W. WILSON
      ---------------                  -------------------------
                                       Robert W. Wilson
                                       Executive Vice President,
                                       Treasurer, Chief Financial Officer
                                       and Director (Principal Financial
                                       and Accounting Officer)

                                       (Signing on behalf of the Registrant 
                                       and as Principal Financial Officer.)

                                Page 14 of 15

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                            SUPREME INDUSTRIES, INC.
                                   FORM 10-Q

                              INDEX TO EXHIBITS


                                                        Sequential
 Number Assigned                                     Numbering System
in Regulation S-K                                      Page Number
    Item 601            Description of Exhibit         of Exhibit
-----------------       ----------------------       ----------------

      (2)               No exhibit.

      (3)               No exhibit.

      (4)               No exhibit.
   
     (10)               No exhibit.

     (15)               No exhibit.

     (18)               No exhibit.

     (19)               No exhibit.

     (22)               No exhibit.

     (23)               No exhibit.

     (24)               No exhibit.

     (27)               Financial data schedule.

     (99)               No exhibit.

                                Page 15 of 15

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