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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, 1997
                                  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 4, 1997

            Class A                              8,435,156
            Class B                              1,473,124

The index to Exhibits is at page 13 in the sequential numbering system.  
Total number of pages: 14.

                                Page 1 of 14

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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 Operations        8,9 & 10


PART II.  OTHER INFORMATION	

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

          Signatures                                                 12

          Index to Exhibits                                          13


                                Page 2 of 14

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                        Part I. Financial Information
                        Item 1. Financial Statements

Supreme Industries, Inc. and Subsidiaries
Consolidated Balance Sheets

                                             September 30,     December 31,
                                                 1997              1996
                                             -------------     ------------
Assets                                        (Unaudited)

Current assets:
  Cash and cash equivalents................       $226,320         $220,678
  Accounts receivable, net.................     18,401,421       16,556,258
  Inventories..............................     23,951,731       21,208,707
  Deferred income taxes....................      1,043,066        1,043,066
  Other current assets.....................        457,705          423,237
                                             -------------     ------------
     Total current assets..................     44,080,243       39,451,946
                                             -------------     ------------


Property, plant and equipment, at cost.....     43,574,615       40,675,873
     Less, Accumulated depreciation and
       amortization........................     15,881,755       14,246,236
                                             -------------     ------------
     Property, plant and equipment, net....     27,692,860       26,429,637



Intangible assets, net.....................      1,756,212        1,908,694
Other assets...............................      1,045,699        1,038,747
                                             -------------     ------------

     Total assets..........................    $74,575,014      $68,829,024
                                             =============     ============


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


                                Page 3 of 14

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

                                              September 30,     December 31,
                                                  1997              1996
                                              -------------     ------------
Liabilities and Stockholders' Equity           (Unaudited)

Current liabilities:
  Current maturities of long-term debt.......    $2,582,825       $2,355,955
  Trade accounts payable.....................     8,099,478        6,778,942
  Accrued income taxes.......................       805,077          959,240
  Other accrued liabilities..................     6,968,540        5,914,315
                                               ------------     ------------
     Total current liabilities...............    18,455,920       16,008,452

Long-term debt...............................    12,639,401       16,108,780

Deferred income taxes........................       890,234          890,234
                                               ------------     ------------
     Total liabilities.......................    31,985,555       33,007,466
                                               ------------     ------------


Stockholders' equity:
  Class A Common Stock, $.10 par value.......       884,964          801,277
  Class B Common Stock, convertible into
    Class A Common Stock on a one-for-one
    basis, $.10 par value....................       154,678          140,297
  Additional paid-in capital.................    31,726,397       23,901,587
  Retained earnings..........................    10,073,956       11,228,933
  Treasury stock, at cost....................      (250,536)        (250,536)
                                               ------------     ------------
     Total stockholders' equity..............    42,589,459       35,821,558
                                               ------------     ------------

     Total liabilities and stockholders' 
       equity................................   $74,575,014      $68,829,024
                                               ============     ============

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

                                Page 4 of 14

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

                              Three Months Ended         Nine Months Ended
                                 September 30,             September 30,
                          -----------  -----------  ------------  ------------
                             1997         1996          1997          1996
                          -----------  -----------  ------------  ------------
Revenues................. $45,691,254  $38,813,812  $146,140,460  $121,364,162

Costs and expenses:
  Cost of sales..........  38,648,059   32,463,802   121,564,238   101,438,274
  Selling, general and 
    administrative.......   3,909,345    3,852,095    12,328,511    11,388,268
  Interest...............     299,194      367,429     1,062,419     1,148,212
                          -----------  -----------  ------------  ------------
                           42,856,598   36,683,326   134,955,168   113,974,754
                          -----------  -----------  ------------  ------------
     Income before 
       income taxes......   2,834,656    2,130,486    11,185,292     7,389,408

Income taxes.............   1,134,000      890,000     4,468,000     3,083,000
                          -----------  -----------  ------------  ------------
     Net income..........  $1,700,656   $1,240,486    $6,717,292    $4,306,408
                          ===========  ===========  ============  ============


Earnings per share:
     Primary.............        $.16         $.12          $.64          $.42
     Fully diluted.......         .16          .12           .64           .42


Weighted average number 
  of shares of common 
  stock and common stock 
  equivalents:
     Primary.............  10,454,538   10,421,366     10,441,359   10,215,453
     Fully diluted.......  10,456,272   10,421,366     10,453,664   10,366,122

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

                                Page 5 of 14

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Supreme Industries, Inc. and Subsidiaries
Consolidated Statements of Cash Flows (Unaudited)
 
                                                       Nine Months Ended
                                                       September 30,
                                                  -------------------------
                                                      1997         1996
                                                  ------------ ------------
Cash flows from operating activities:
     Net income.................................    $6,717,292   $4,306,408
     Adjustments to reconcile net income to net
       cash used in operating activities:
         Depreciation and amortizatization......     2,092,984    1,607,995
         Gain on disposal of equipment..........        11,679       (9,251)
         Changes in operating assets and
           liabilities..........................    (2,402,057)  (1,219,638)
                                                  ------------ ------------
       Net cash provided by operating 
         activities.............................     6,419,898    4,685,514
                                                  ------------ ------------
Cash flows from investing activities:
     Additions to property, plant and 
       equipment................................    (3,268,554)  (6,320,438)
     Proceeds from disposal of property, plant
       and equipment............................        53,150       13,305
     Increase in other assets...................        (6,952)    (391,948)
                                                  ------------ ------------
       Net cash (used in) investing activities..    (3,222,356)  (6,699,081)
                                                  ------------ ------------
Cash flows from financing activities:
     Proceeds from revolving line of credit
          and other long-term debt..............    58,559,938   54,390,596
     Repayments of revolving line of credit
          and other long-term debt..............   (61,802,447) (53,264,285)
     Proceeds from exercise of stock options
       and warrants.............................        50,609      891,305
                                                  ------------ ------------
       Net cash provided by (used in) financing
         activities.............................    (3,191,900)   2,017,616
                                                  ------------ ------------
Increase in cash and cash equivalents...........         5,642        4,049
Cash and cash equivalents, beginning of period..       220,678      106,740
                                                  ------------ ------------
Cash and cash equivalents, end of period........      $226,320     $110,789
                                                  ============ ============
Noncash investing and financing activities:
     5% Common Stock Dividend - November 1997...    $4,486,549        ----
     5% Common Stock Dividend - May 1997........     3,385,720        ----
     Exchange of warrants for Class A Common
       Stock....................................         ----     3,051,930
     Conversion of convertible notes to shares
       of Class A Common Stock..................         ----     1,134,428
     Conversion of Class B Common Stock to
       Class A Common Stock.....................         ----        39,868

The accompanying notes are a part of the consolidated financial statements.
 
                              Page 6  of  14

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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, 1996 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,
                                      1997                 1996    
                                  -------------        ------------
    Raw materials................. $ 13,063,097        $ 12,076,089
    Work-in-progress..............    3,143,742           3,138,668
    Finished goods................    7,744,892           5,993,950
                                  -------------        ------------
                                   $ 23,951,731        $ 21,208,707

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 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 rates for the three and nine months ended 
September 30, 1997 were 40.0% and 39.9%, respectively, compared to 41.8% and 
41.7% for the three and nine months ended September 30, 1996.  The decreases 
are attributable to the Company's higher levels of income decreasing the 
impact of items treated differently for financial statement purposes and 
income tax return purposes and improved operations of the Company's Honduran 
subsidiary, which is operating in a government tax free zone.

                                Page 7 of 14

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

NOTE D - STOCK DIVIDEND

On May 1, 1997, the Board of Directors declared a 5% common stock dividend 
payable on May 19, 1997, to shareholders of record on May 12, 1997.  On 
October 29, 1997, the Board of Directors declared an additional 5% common 
stock dividend payable on November 17, 1997 to shareholders of record on 
November 10, 1997.  Earnings per share and weighted average shares 
outstanding have been restated to reflect the 5% stock dividends for all 
periods presented.


NOTE E - RECENT ACCOUNTING PRONOUNCEMENTS

In February 1997, the Financial Accounting Standards Board ("FASB") issued 
Statement of Financial Accounting Standards ("SFAS") No. 128, "Earnings Per 
Share."  The Company is required to initially adopt this pronouncement for 
the periods ending December 31, 1997, and will be required to then restate 
all prior periods presented to conform with the new standard.  SFAS No. 128 
will require the Company to make a dual presentation of basic and diluted 
earnings per share on the face of its consolidated statementof income instead
of primary and fully diluted earnings per share.  The Company has not
determined the impact SFAS No. 128 will have on historically reported 
earnings per share.

In June 1997, the FASB issued SFAS No. 130, "Reporting Comprehensive Income" 
and SFAS No. 131, "Disclosures about Segments of an Enterprise and Related 
Information" both of which the Company will be required to adopt in its 
financial statements for the year ending December 31, 1999.  SFAS No. 130 
will require the Company to report comprehensive income in its financial 
statements.  Comprehensive income includes net income and certain 
transactions that are reported as a separate component of stockholder's 
equity.  SFAS No. 131 specifies revised guidelines for determining
operating segments and the type and level of information to be disclosed.  
The Company has not yet determined what changes in its disclosures, if any,
will be required by SFAS No. 131.


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


Results of Operations

Revenues for the three months ended September 30, 1997 increased $6.9 million 
to $45.7 million from $38.8 million for the three months ended 
September 30, 1996.  Revenues for the nine months ended September 30, 1997 
increased $24.7 million to $146.1 million from $121.4 million for the nine 
months ended September 30, 1996.

                                Page 8 of 14

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Both primary and fully diluted earnings per share increased four cents to 
$.16 for the quarter ended September 30, 1997 from $.12 for the quarter 
ended September 30, 1996.  Both primary and fully diluted earnings per share 
increased $.22 to $.64 for the nine months ended September 30, 1997.  
Earnings per share for all periods presented have been restated to reflect 
the 5% stock dividend declared in May and October 1997 (See Note D of Notes 
to Consolidated Financial Statements).

Revenue increases for both the three months and nine months ended 
September 30, 1997 were concentrated in the Company's dry freight product 
lines and the StarTrans (trademark) Bus product lines.  Sales of dry freight 
units shipped increased 16% for the quarter and 20% for the nine months ended 
September 30, 1997.  Sales of StarTrans (trademark) units shipped increased 
47% for the quarter and 42% for the nine months ended September 30, 1997.  
Revenues increased for both the three months and nine months ended 
September 30, 1997 at each of the Company's regional manufacturing facilities 
with the largest increases occurring in Indiana and Pennsylvania.

The Company's gross profit percentage decreased 1% to 15.4% for the three 
months ended September 30, 1997 from 16.4% for the three months ended 
September 30, 1996.  Increased direct labor was responsible for the decline 
in gross profit.  The increase is attributable to the following:  (1) labor 
incurred at four of the Company's production facilities to take the annual 
physical inventories, both production and sales were lost during the shut 
down for the physical inventory, (2) Start-up and training of initial 
production runs on three new labor intensive product lines (armored trucks, 
trolleys and service vans).  Manufacturing overhead expenses declined 1.1% 
and 1.3% as a percentage of revenues for the three months and nine months
ended September 30, 1997 from the comparable prior year periods, which
generally occurs with increased sales volume.  Raw material costs for both
the three months and nine months ended September 30, 1997 were within .5% of
the prior year comparable periods.

Selling, general and administrative expenses as a percentage of revenues 
declined to 8.6% and 8.4% for the three months and nine months ended 
September 30, 1997, respectively, from 10.0% and 9.4% for the comparable 
prior year periods.  The decrease in the percentages is the result of 
increased sales volumes.

Interest expense declined to $299,194 for the three months ended 
September 30, 1997 from $367,429 from the prior year comparable quarter and 
to $1,062,418 for the nine months ended September 30, 1997 from $1,148,212 
for the comparable prior year period.  Interest expense for the nine months 
ended September 30, 1996 was reduced by $.2 million for interest capitalized 
in accordance with Statement of Financial Accounting Standards No. 34. 

                                Page 9 of 14

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The Company has entered into a contract to purchase software that will enable 
it to handle transactions in the year 2000, process more efficiently the 
increased volume of transactions as well as provide better operating 
information.  The Company's management personnel have begun training on the 
new software and anticipates a successful implementation in advance of the 
year 2000.


Liquidity and Capital Resources

Cash flows from operations was adequate to finance operations, reduce debt 
and provide for capital expenditures during the nine months ended 
September 30, 1997.  Net income of $6.7 million and depreciation and 
amortization of $2.1 million were the primary factors contributing to 
positive cash flow.  The increases in accounts receivable of $1.8 million 
and inventories of $2.7 million were a result of the increases in revenue 
for both the three months and nine months ended September 30, 1997.  Both 
days sales outstanding and inventory turn improved slightly when compared
to the period ended September 30, 1996.  The increase in inventories was
partially financed by a $1.1 million increase in accounts payable.

The major investing activities for the nine months ended September 30, 1997 
were the acquisition of plant and equipment to increase the Company's 
capacity in response to greater demand for existing and new product lines.  
The major additions completed during the nine months were a new paint 
facility, production tooling for proprietary parts and improved laminating 
capabilities all in Goshen, Indiana.  The Company also upgraded its paint 
facility in Jonestown, Pennsylvania.  In anticipation of continued increased
demand for the Company's existing and new products further expansion has 
begun in Goshen, Indiana; Jonestown, Pennsylvania; Cleburne, Texas and 
Griffin, Georgia.  The increased capacity will be available early in 1998.
The approximate $3.0 million of planned capital expenditures will be
financed through operating cash flow and use of the revolving credit facility.

For the nine months ended September 30, 1997, the Company has reduced 
long-term debt by $3.2 million as a result of strong operating cash flows.  
The Company believes cash flows from operations and amounts available under 
its revolving line of credit will be sufficient to finance operations during 
the balance of 1997 and the next fiscal year.


                                 Page 10 of 14

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                       PART II.   OTHER INFORMATION



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

        a)  Exhibits:

            Exhibit 11-Statement Regarding Computation of Per 					
            Share Earnings

        b)  Reports on Form 8-K:  None


                                Page 11 of 14

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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 12, 1997                       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 14

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                              INDEX TO EXHIBITS


Exhibit No.         Description                                       Page

   11               Statement Regarding Computation of Per Share    
                    Earnings                                           14


                                Page 13 of 14

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                                EXHIBIT 11

           STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS

SUPREME INDUSTRIES, INC. AND SUBSIDIARIES
(Amounts in thousands, except per share data)

                                                         Nine Months
                                                     Ended September 30,
                                                     1997          1996
PRIMARY
     Weighted average shares outstanding            10,358         9,709

     Net effect of dilutive stock options and 
       warrants - based on the treasury stock 
       method using average market price                83           367

     Net effect of subordinated convertible
       notes                                           ---           139
                                                   -------       -------
                 TOTAL                              10,441        10,215
                                                   =======       =======

     Net income                                    $ 6,717       $ 4,306
                                                   =======       =======
     Net income per share                          $   .64       $   .42
                                                   =======       =======

FULLY DILUTED
     Weighted average shares outstanding            10,358         9,709

     Net effect of dilutive stock options and 
       warrants - based on the treasury stock 
       method using the period-end market price, 
       if higher than the average market price          96           367

     Dilutive effect of subordinated convertible
       notes                                           ---           290
                                                  --------      --------
                 TOTAL                              10,454        10,366
                                                  ========      ========

     Net income                                    $ 6,717       $ 4,306

     Interest expense reduction due to assumed 
       conversion of subordinated convertible 
       notes - net of tax                              ---            23
                                                  --------      --------
     Net income as adjusted                        $ 6,717       $ 4,329
                                                  ========      ========
     Net income per share                          $   .64       $   .42
                                                  ========      ========

     Note:  The above share and per share data have been restated for the 
            5% stock dividends declared on May 1, 1997 and October 29, 1997.


                                Page 14 of 14

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