<PAGE>

                               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 March 31, 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 May 7, 1998  
               Class A                           8,862,772 
               Class B                           1,546,773

The index to Exhibits is at page 13 in the sequential numbering system.  
Total number of pages: 13.

                                Page 1 of 13

</PAGE>
<PAGE>

                         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 Operations      9 & 10



PART II.  OTHER INFORMATION	

  Item 6. Exhibits and Reports on Form 8-K                       11

          Signatures                                             12

          Index to Exhibits                                      13

                  
                                Page 2 of 13

</PAGE>
<PAGE>

                        Part I. Financial Information
                        Item 1. Financial Statements

Supreme Industries, Inc. and Subsidiaries
Consolidated Balance Sheets


                                            March 31,        December 31,
                                              1998              1997
                                         ---------------   ---------------
Assets                                     (Unaudited)

Current assets:
  Cash and cash equivalents.............        $136,217          $159,044
  Accounts receivable, net..............      26,398,781        23,188,066
  Inventories...........................      32,871,072        28,404,786
  Deferred income taxes.................         973,657           973,657
  Other current assets..................         725,719           803,442
                                         ---------------   ---------------

       Total current assets.............      61,105,446        53,528,995
                                         ---------------   ---------------


Property, plant and equipment, at cost..      47,791,974        46,083,344
       Less, Accumulated depreciation 
         and amortization...............      17,037,526        16,522,903
                                         ---------------   ---------------
       Property, plant and equipment, 
         net............................      30,754,448        29,560,441


Intangible assets, net..................       1,654,558         1,705,385
Other assets............................       1,056,446         1,079,491
                                         ---------------   ---------------

       Total assets.....................     $94,570,898       $85,874,312
                                         ===============   ===============

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

                                Page 3 of 13

</PAGE>
<PAGE>

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


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

Current liabilities:
  Current maturities of long-term debt...      $2,232,633        $2,119,692
  Trade accounts payable.................      11,753,599        10,433,051
  Accrued income taxes...................       2,634,275         1,098,111
  Other accrued liabilities..............       6,708,318         9,514,186
                                          ---------------   ---------------
       Total current liabilities.........      23,328,825        23,165,040

Long-term debt...........................      23,406,122        17,359,703

Deferred income taxes....................         898,825           898,825
                                          ---------------   ---------------
       Total liabilities.................      47,633,772        41,423,568
                                          ---------------   ---------------


Stockholders' equity:
  Class A Common Stock, $.10 par value...         888,746           885,599
  Class B Common Stock, convertible into
    Class A Common Stock on a one-for-one
    basis, $.10 par value................         154,677           154,677
  Additional paid-in capital.............      31,838,751        31,743,249
  Retained earnings......................      14,305,488        11,917,755
  Treasury stock, at cost................        (250,536)         (250,536)
                                          ---------------   ---------------
       Total stockholders' equity........      46,937,126        44,450,744
                                          ---------------   ---------------
       Total liabilities and 
         stockholders' equity............     $94,570,898       $85,874,312
                                          ===============   ===============

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

                                Page 4 of 13

</PAGE>
<PAGE>

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


                                                   Three Months End
                                                       March 31,
                                          ----------------   ---------------
                                                1998              1997
                                          ----------------   ---------------
Revenues.................................      $55,493,345       $44,173,303

Costs and expenses:
  Cost of sales..........................       46,120,374        37,036,681
  Selling, general and administrative....        4,946,225         3,949,378
  Interest...............................          417,013           349,845
                                          ----------------   ---------------
                                                51,483,612        41,335,904
                                          ----------------   ---------------
       Income before income taxes........        4,009,733         2,837,399

Income taxes.............................        1,622,000         1,152,000
                                          ----------------   ---------------
       Net income........................       $2,387,733        $1,685,399
                                          ================   ===============


Earnings per share:
       Basic.............................             $.23              $.16
       Diluted...........................              .23               .16


Shares used in the computation of 
  earnings per share:
       Basic.............................       10,383,073        10,348,553
       Diluted...........................       10,476,055        10,467,754

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

                                Page 5 of 13

</PAGE>
<PAGE>

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


                                                     Three Months End
                                                         March 31,
                                             --------------- ---------------
                                                  1998            1997
                                             --------------- ---------------
Cash flows from operating activities:
  Net income................................      $2,387,733      $1,685,399
  Adjustments to reconcile net income to net
    cash used in operating activities:
      Depreciation and amortization.........         732,620         706,649
      Loss on disposal of equipment.........          84,087           7,518
      Changes in operating assets and 
        liabilities.........................      (7,548,434)     (5,251,184)
                                             --------------- ---------------
    Net cash (used in) operating activities.      (4,343,994)     (2,851,618)
                                             --------------- ---------------
Cash flows from investing activities:
  Additions to property, plant and 
    equipment...............................      (2,068,787)     (1,027,814)
  Proceeds from disposal of property, plant
    and equipment...........................         108,900          36,950
  (Increase) decrease in other assets.......          23,045         (10,762)
                                             --------------- ---------------
    Net cash (used in) investing activities.      (1,936,842)     (1,001,626)
                                             --------------- ---------------
Cash flows from financing activities:
  Proceeds from revolving line of credit
    and other long-term debt................      25,405,232      17,221,848
  Repayments of revolving line of credit and 
    other long-term debt....................     (19,245,872)    (13,615,655)
  Proceeds from exercise of stock options
    and warrants............................          98,649          31,144
                                             --------------- ---------------
    Net cash provided by financing 
      activities............................       6,258,009       3,637,337
                                             --------------- ---------------
Decrease in cash and cash equivalents.......         (22,827)       (215,907)
Cash and cash equivalents, beginning of
  period....................................         159,044         220,678
                                             --------------- ---------------
Cash and cash equivalents, end of period....        $136,217          $4,771
                                             =============== ===============

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

                                Page 6 of 13

</PAGE>
<PAGE>

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:

                                    March 31,          December 31,
                                      1998                 1997
                                ---------------       --------------
   Raw materials............... $    18,878,339       $   16,896,669
   Work-in-progress............       4,553,082            4,553,082
   Finished goods..............       9,439,651            6,955,035
                                ---------------       --------------
                                $    32,871,072       $   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 - INCOME TAXES

The effective income tax rate for the three months ended March 31, 1998 was 
40.5% compared to 40.6% for the three months ended March 31, 1997.  

                                Page 7 of 13

</PAGE>
<PAGE>

NOTE D - 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 gives effect to 
all potentially dilutive securities that were outstanding during the period.
The Company's diluted earnings per share is computed as follows:

                                             Three Months Ended March 31,
                                                  1998          1997
                                                  ----          ----

     Net Income                                  $2,388        $1,685
                                                 ------        ------

     Weighted average number of shares 
       outstanding (used in computation
       of basic earnings per share)              10,383        10,349 

     Effect of dilutive securities:
          Options and warrants                       93           119
                                                 ------        ------
     Diluted shares outstanding (used
       in computation of diluted 
       earnings per share)                       10,476        10,468
                                                 ======        ======

The computations of the number of common shares used in the determination of 
1997 basic and diluted earnings per share give retroactive recognition to the 
two (2) 5% common stock dividends declared and paid in 1997.

                                Page 8 of 13

</PAGE>
<PAGE>

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

Results of Operations

Revenues for the quarter ended March 31, 1998 increased $11,320,042 to 
$55,493,345 from $44,173,303 for the quarter ended March 31, 1997.  Net 
income increased $702,334 to $2,387,733 for the quarter ended March 31, 1998 
from $1,685,399 for the quarter ended March 31, 1997.  Both basic and diluted 
earnings per share advanced $.07 to $.23 for the quarter ended March 31, 1998 
when compared to the quarter ended March 31, 1997.  Basic and diluted 
earnings per share for 1997 have been adjusted for the two (2) 5% common 
stock dividends declared and paid in 1997.

The Company experienced growth in all of its product lines.  The most 
significant increases were in the Company's dry freight, refrigerated and bus 
product lines.  The Company's new product lines, armored trucks, trolley cars 
and mid size buses and Spartan Service Vans accounted for 7.9% of the Company's
revenue growth in the first quarter.  The Company also experienced considerable 
growth in each of the geographical areas it serves.

The Company's gross profit percentage increased .7% to 16.9% for the quarter 
ended March 31, 1998 from 16.2% for the quarter ended March 31, 1997.  Both 
direct labor and overhead expenses as a percentage of revenues declined 
slightly when compared to the comparable amounts a year ago while material 
cost rose slightly.

Selling, general and administrative expenses were 8.9% of revenues for both 
the quarter ended March 31, 1998 and March 31, 1997.  The actual dollar 
increase of $996,847 is attributed to the increase in revenues.

Interest expense increased $67,168 for the quarter ended March 31, 1998 to 
$417,013 from $349,845 for the quarter ended March 31, 1997.  The increase is 
attributable to higher borrowings under the Company's revolving line of credit 
to finance the increased levels of accounts receivable and inventories 
resulting from the increase in revenues.


Liquidity and Capital Resources

Funds available under the Company's revolving credit agreement were adequate 
to finance operations and provide for capital expenditures during the quarter 
ended March 31, 1998.  Net income was the most significant component of 
operating cash flow followed by depreciation and amortization.  Increases in 
both accounts receivable and inventories were the most significant uses of 
operating cash flows during the period.  The significant increase in revenues 
was responsible for the increase in both receivables and inventory.

                                Page 9 of 13

</PAGE>
<PAGE>

The major investing activities during the quarter were the capacity 
expansions at the Company's Goshen, Indiana; Jonestown, Pennsylvania; and 
Griffin, Georgia facilities.  They are all complete and in operation and add 
15 to 20% additional capacity above what was available in 1997.

The principal financing activity during the quarter was the use of the 
Company's revolving credit agreement to finance operations and capital 
expenditures.  The Company had $3.3 million available under its revolving 
credit agreement at March 31, 1998.

The Company anticipates the cash flow from operations and amounts available 
under its revolving line of credit will be sufficient to meet the Company's 
cash needs during 1998.

The Company is in the process of implementing new computer software that will 
allow it to process transactions in the year 2000 and beyond as well as 
provide better operating information timely once completely installed.  The 
Company has established an implementation team and provided them with the 
training and resources necessary to have all Company facilities year 2000 
compliant well in advance of December 31, 1999.

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, it 
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 10 of 13

</PAGE>
<PAGE>

                       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 11 of 13

</PAGE>
<PAGE>

                                 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: May 11, 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 12 of 13

</PAGE>
<PAGE>

                          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 13 of 13

</PAGE>
<PAGE>