SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q


                   Quarterly Report Under Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

For Quarter Ended:                                         Commission File No.:
  May 31, 1998                                                    0-16442

                             FIRST TEAM SPORTS, INC.
             (Exact name of Registrant as specified in its charter)

    Minnesota                                                    41-1545748
(State or other jurisdiction                                   (I.R.S. Employer
of incorporation or organization)                            Identification No.)

                               1201 Lund Boulevard
                             Anoka, Minnesota 55303
                    (Address of principal executive offices)
               Registrant's telephone number, including area code:

                                 (612) 576-3500

                     --------------------------------------

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:  5,792,253  shares of Common
Stock, $.01 par value per share, outstanding as of July 10, 1998.


<PAGE>


                                     PART I
                              FINANCIAL INFORMATION


Item 1.  Financial Statements

                             FIRST TEAM SPORTS, INC.
                           CONSOLIDATED BALANCE SHEETS
                       May 31, 1998 and February 28, 1998
<TABLE>
<CAPTION>


                                                            May 31,    February 28,
                    ASSETS                                   1998          1998
                                                         -----------   -----------
                                                         (Unaudited)
<S>                                                      <C>           <C>
CURRENT ASSETS
  Cash and cash equivalents                              $ 2,934,471   $ 1,869,545
  Receivables:
    Trade, less allowance for
      doubtful accounts of $507,000 at
      May 31, 1998 and $666,000 at
      February 28, 1998                                   16,738,793    11,417,176
  Refundable income taxes                                  1,358,396     1,678,405
  Inventories                                             19,696,070    22,709,519
  Prepaid expenses                                           822,793       957,903
  Deferred income taxes                                      896,000       896,000
                                                         -----------   -----------

    Total current assets                                  42,446,523    39,528,548
                                                         -----------   -----------

PROPERTY AND EQUIPMENT,
  Land                                                       600,000       600,000
  Building                                                 4,988,680     4,988,680
  Production equipment                                     2,007,406     2,132,156
  Office furniture and equipment                           1,789,533     1,766,911
  Warehouse equipment                                        916,591       820,626
  Vehicles                                                   104,148       102,906
                                                         -----------   -----------
                                                          10,406,358    10,411,279
  Less accumulated depreciation                            2,297,674     1,993,004
                                                         -----------   -----------

                                                           8,108,684     8,418,275
                                                         -----------   -----------

OTHER ASSETS
  License agreements, less accumulated
    amortization of $3,126,000 at May 31,
    1998 and $3,039,000 at February 28, 1998               1,942,014     1,766,584
  Goodwill, less accumulated amortization
    of $102,000 at May 31, 1998 and $64,000
    at February 28, 1998                                   1,391,403     1,462,291
  Other                                                      943,300       986,030
                                                         -----------   -----------

                                                           4,276,717     4,214,905
                                                         -----------   -----------

                                                         $54,831,924   $52,161,728
                                                         ===========   ===========
</TABLE>




   See Notes to Consolidated Financial Statements


<PAGE>


                             FIRST TEAM SPORTS, INC.
                     CONSOLIDATED BALANCE SHEETS (CONTINUED)
                       May 31, 1998 and February 28, 1998
<TABLE>
<CAPTION>


                                                            May 31,      February 28,
            LIABILITIES AND SHAREHOLDERS' EQUITY             1998            1998
                                                         ------------    ------------
                                                          (Unaudited)
<S>                                                      <C>             <C>
CURRENT LIABILITIES
  Notes payable to bank                                  $ 12,060,000    $  8,685,000
  Current maturities of
    long-term debt                                          1,134,308         978,965
  Accounts payable, trade                                   1,783,417       2,697,675
  Accrued expenses                                          1,944,282       2,115,728
                                                         ------------    ------------

    Total current liabilities                              16,922,007      14,477,368
                                                         ------------    ------------




LONG-TERM DEBT,
    less current maturities                                 6,526,134       6,774,496
                                                         ------------    ------------


DEFERRED INCOME TAXES                                          69,000          69,000
                                                         ------------    ------------


DEFERRED REVENUE                                              600,000         600,000
                                                         ------------    ------------


SHAREHOLDERS' EQUITY
  Common Stock, par value $.01 per
    share; authorized 10,000,000
    shares; issued and outstanding
    5,792,240 shares at May 31, 1998
    and February 28, 1998                                      57,923          57,923
  Additional paid-in capital                                9,806,341       9,806,341
  Retained earnings                                        21,056,860      20,492,860
  Accumulated other comprehensive income (loss)              (206,341)       (116,260)
                                                         ------------    ------------

                                                           30,714,783      30,240,864
                                                         ------------    ------------

                                                         $ 54,831,924    $ 52,161,728
                                                         ============    ============

</TABLE>



   See Notes to Consolidated Financial Statements


<PAGE>
                             FIRST TEAM SPORTS, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                               Three months ended
                                                                     May 31,
                                                               1998            1997
                                                          ------------    ------------


<S>                                                       <C>             <C>
        Net sales                                         $ 15,138,589    $ 26,007,262

        Cost of goods sold                                  10,782,924      19,050,049
                                                          ------------    ------------

            Gross profit                                     4,355,665       6,957,213
                                                          ------------    ------------

        Operating expenses:
          Selling                                            1,400,361       2,041,830
          General and
            administrative                                   1,749,570       1,807,155
                                                          ------------    ------------

                                                             3,149,931       3,848,985
                                                          ------------    ------------

            Operating income                                 1,205,734       3,108,228

          Interest expense                                    (359,181)       (250,542)
                                                          ------------    ------------

            Income before income
              tax expense                                      846,553       2,857,686

        Income tax expense                                    (282,553)       (996,000)
                                                          ------------    ------------

            Net income for the
              period                                      $    564,000    $  1,861,686
                                                          ============    ============


        Net income per share:
          Basic                                           $       0.10    $       0.32
          Diluted                                         $       0.10    $       0.32

        Shares used in computation of
          net income per share:
             Basic                                           5,792,253       5,751,319
             Diluted                                         5,885,956       5,787,328


</TABLE>

        See Notes to Consolidated Financial Statements



<PAGE>


                             FIRST TEAM SPORTS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                  For Three Months Ended May 31, 1998 and 1997
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                                   May 31,        May 31,
                                                                    1998           1997
                                                                -----------    -----------
<S>                                                             <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES                           
   Net Income                                                   $   564,000    $ 1,861,686
   Adjustments required to reconcile net                       
     income to net cash used in                                
     operating activities:                                     
      Depreciation                                                  311,205        448,950
      Amortization                                                  164,727         87,300
     Change in operating assets and liabilities:               
       Receivables                                               (5,389,085)    (7,600,310)
       Inventories                                                2,983,737      1,336,169
       Prepaid expenses                                             134,798        (46,450)
       Accounts payable                                            (899,783)     1,018,405
       Accrued expenses                                            (168,259)      (119,593)
       Income taxes                                                 312,597        760,902
                                                                -----------    -----------
                                                               
       Net cash used in operating activities                     (1,986,063)    (2,252,941)
                                                                -----------    -----------
                                                               
                                                               
CASH FLOWS FROM INVESTING ACTIVITIES                           
   Purchase of property and equipment                                  --         (414,114)
   Other                                                           (261,774)        (8,766)
                                                                -----------    -----------
                                                               
       Net cash used in investing activities                       (261,774)      (422,880)
                                                                -----------    -----------
                                                               
CASH FLOWS FROM FINANCING ACTIVITIES                           
   Net proceeds on short-term borrowings                          3,375,000      1,840,000
   Proceeds from long-term borrowings                               262,760      1,000,000
   Principal payments on long-term                             
     borrowings                                                    (356,158)      (205,749)
   Net proceeds from exercise of stock options                         --           56,683
                                                                -----------    -----------
                                                               
       Net cash provided by financing activities                  3,281,602      2,690,934
                                                                -----------    -----------
                                                               
       Increase in cash and                                    
         cash equvalents                                          1,033,765         15,113
                                                               
       Effect of foreign currency translation                        31,161           --
                                                               
Cash and cash equivalents:                        
   Beginning                                                      1,869,545        381,427
                                                                -----------    -----------

   Ending                                                       $ 2,934,471    $   396,540
                                                                ===========    ===========
</TABLE>

See Notes to Consolidated Financial Statements




<PAGE>


                             FIRST TEAM SPORTS, INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1.

          The consolidated  condensed  balance sheet as of May 31, 1998, and the
consolidated  statements of operations for the three-month periods ended May 31,
1998 and 1997 have been prepared by the Company without audit. In the opinion of
management,  all  adjustments  (consisting  only of normal  recurring  accruals)
necessary to present  fairly the  consolidated  financial  position,  results of
operations and cash flows at May 31, 1998 and 1997 and for all periods presented
have been made. The operating  results for the period ended May 31, 1998 are not
necessarily  indicative  of the  operating  results to be expected  for the full
fiscal year.

          Certain  information  and footnote  disclosures  normally  included in
consolidated   financial   statements  in  accordance  with  generally  accepted
accounting principles have been condensed or omitted.

REPORT COMPREHENSIVE INCOME

         As of March 1, 1998, the Company adopted Financial Accounting Standards
Board Statement No. 130 (Statement 130), Report  Comprehensive  Income Statement
130 establishes new rules for the reporting and display of comprehensive  income
and its  components;  however,  the adoption this statement had no impact on the
Company's  net  income or  shareholders'  equity.  Statement  130  requires  the
Company's  foreign  currency  translation,  which prior to adoption was reported
separately  in  shareholders'  equity,  to be  included  in other  comprehensive
income. Prior year financial statements have been reclassified to conform to the
requirements of Statement 130.

         During the quarters  ended May 31, 1998 and 1997,  total  comprehensive
income amounted to $357,659 and $1,861,686, respectively.


<PAGE>


EARNINGS PER SHARE

                                         Basic EPS        Diluted EPS

                                       1998     1997     1998     1997
                                      ------   ------   ------   ------
                                     (in thousands, except per share data)

Net Income                            $  564   $1,862   $  564    $1862
                                      ======   ======   ======   ======

Weighted average common
     shares outstanding               $5,792   $5,751   $5,792   $5,751

Stock Options                           --       --         94       36
                                      ------   ------   ------   ------

Total common equivalent
     shares outstanding               $5,792   $5,751   $5,886   $5,787
                                      ======   ======   ======   ======

Net Income per share                  $  .10   $  .32   $  .10   $  .32



<PAGE>


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations

RESULTS OF OPERATIONS

         Net Sales. Net sales were $ 15.1 million in the first quarter of fiscal
1999, a decrease of 42% over sales of $26.0 million in the comparable quarter of
fiscal 1998.  In-line skate sales volume decreases,  combined with a decrease in
the average  selling price of both the  Company's  Skate Attack and Ultra Wheels
lines,  were the  principal  factors in the  Company's  net sales decline in the
first  quarter of fiscal 1999.  The total number of in-line  skate units sold in
the first  quarter of fiscal 1999  decreased  approximately  42% and the average
selling price in the first quarter of fiscal 1999  decreased  approximately  15%
compared to the first quarter of fiscal 1998. These decreases were the result of
the  Company  experiencing  continued  pricing  pressures  from all areas of the
market place due  primarily to excess  inventory  levels and  competitive  price
cutting in the in-line skate industry.

         The  Company's  product  groups  consist  of  in-line  skates,  in-line
accessories and parts  (primarily  protective  wear and  replacement  wheels and
bearings),  roller hockey products, ice hockey sticks, and ice hockey protective
wear and  accessories.  Within the product groups,  the Company  maintains Ultra
Wheels, Skate Attack, Heavy and Third World in-line product lines and a Hespeler
ice hockey line. The Ultra Wheels, Heavy and Third World lines consist of higher
quality and higher  priced  products  that are  targeted for the  specialty  and
sporting  goods chain store  customers.  The Skate Attack line consists of lower
priced products for the mass merchant  customers.  The Hespeler line consists of
high quality products that are targeted  primarily at the specialty and sporting
goods chain stores.

         In-line skate and in-line  accessory  and part sales  decreased 46% and
47% respectively, from the first quarter of fiscal 1998 to fiscal 1999. Sales of
in-line  skates  accounted  for  approximately  81% of total  sales in the first
quarter of fiscal  1999  compared  to 87% in the first  quarter of fiscal  1998.
Sales of in-line  accessories and parts accounted for approximately 12% of total
sales in the first quarter of fiscal 1999 compared to 13% in fiscal 1998.  Sales
of ice hockey sticks and ice hockey  protective wear and  accessories  accounted
for approximately 4% and 3%,  respectively,  of total sales in the first quarter
of fiscal 1999. The Company purchased Hespeler Hockey Company in September 1997,
therefore  there were no ice hockey  product  sales during the first  quarter of
fiscal 1998.

         The  Company  currently  distributes  products  to  numerous  countries
worldwide.  Domestic  sales were $8.8 million or 59% of total sales in the first
quarter of fiscal 1999  compared to $16.9 million or 65% in the first quarter of
fiscal  1998.  Sales in Canada  were $4.2  million or 27% of total  sales in the
first  quarter  of fiscal  1999  compared  to $4.3  million  or 17% in the first
quarter of fiscal 1998.  Sales in Europe were $2.1 million or 14% of total sales
in the first quarter of fiscal 1999 compared to $4.2 million or 16% in the first
quarter of fiscal 1998.  Other  International  sales were  insignificant  in the
first  quarter of fiscal 1999  compared to $0.6 million in the first  quarter of
fiscal 1998.


<PAGE>

         Several factors  contributed to the company's sales  performance in the
first  quarter of fiscal 1999.  The  decrease in domestic  sales was a result of
continued  excess  inventory  levels in the market place and  competitive  price
cutting which has continued to plague the in-line skate  industry.  The decrease
in domestic  in-line sales were also due to certain  customers,  primarily large
mass merchant retailers  purchasing in-line skate products directly from Pacific
Rim  manufacturers.  The  consistent  sales results in Canada were primarily the
result of continued strong acceptance of the Company's USA made products and the
Company's  strong  sales force in Canada.  The  decrease  in European  sales was
primarily the result of excess  inventory  levels in the European  market and an
increase  in  the  number  of   customers   buying   direct  from   Pacific  Rim
manufacturers.  The  decrease in other  international  sales was  primarily  the
result of the  continued  excess  inventory  levels in both the  Pacific Rim and
South American marketplaces.

         While the  Company  believes  there are some  positive  signs  that the
market  conditions  in the in-line  industry  are  improving,  the  national and
international  markets continue to be plagued by excess  inventories and extreme
price  competition,  with no clear signs of when these  market  conditions  will
abate.  Furthermore,   the  increased  purchases  of  product  direct  from  the
manufacturers  by large mass  merchants  will  continue to affect the  Company's
domestic sales to these customers.

         Gross Margin.  As a percentage of net sales, the Company's gross margin
was 28.8% in the first  quarter of fiscal  1999  compared  to 26.8% in the first
quarter of fiscal  1998.  The  increase  in the gross  margin in fiscal 1999 was
primarily due to a reduction in product  warranty/return claims, Hespeler Hockey
product sales which carry a higher margin,  and a reduction in freight costs. In
the first quarter of fiscal 1998 the Company had to airfreight  certain products
to meet customer ship dates.

         The Company's  UltraWheels brand of in-line skates accounted for 65% of
total in-line skate sales in the first quarter of fiscal 1999 compared to 66% in
the first  quarter  of fiscal  1998,  while the  Company's  Skate  Attack  brand
accounted  for 35% of total  in-line  skate sales in the first quarter of fiscal
1999 compared to 34% in the first quarter of fiscal 1998.

         Operating Expenses. Selling expenses were $1.4 million or 9.3% of total
net sales in the first  quarter of fiscal 1999  compared to $2.0 million or 7.9%
in the first quarter of fiscal 1998. The decrease in the absolute  dollar amount
of  selling  expenses  in 1999  was  primarily  the  result  of a  reduction  in
commissions, royalties and co-op advertising costs associated with the decreased
sales  volume and  management's  efforts  to closely  monitor  and  control  its
expenditures.  The increase in selling  expenses as a percentage of net sales in
1999 was due to continued  efforts to advertise and market the Company's two new
subsidiaries Hespeler and Mothership and the Company's new products.


<PAGE>

         General and administrative expenses were $1.7 million or 11.6% of total
net sales in the first  quarter of fiscal 1999  compared to $1.8 million or 6.9%
in the first quarter of fiscal 1998. The decrease in the absolute  dollar amount
of general and  administrative  expenses in 1999 was  primarily  the result of a
reduction in insurance  costs  associated  with the  decreased  sales volume and
reduced operating  expenditures resulting from management's continued efforts to
closely  monitor  and  control  operating  costs.  The  increase  in general and
administrative  expenses as a percentage  of net sales in 1999 was primarily due
to the  effect of fixed  costs as related to the  reduced  sales  volume and the
administrative  costs associated with the Company's new offices for Hespeler and
Mothership.

         In fiscal  1997,  the  Company  purchased  a new  software  system  and
appropriate computer hardware.  As part of the selection process, the ability to
recognize the year 2000 was a major requirement and thus the company believes it
is prepared  for the change.  The  Company is  currently  working to resolve the
potential  impact  of  the  year  2000  on  the  processing  of  date  sensitive
information by the Company's computerized information systems, which might occur
due  to  vendors  and/or  customers  not  being  ready.   Based  on  preliminary
information,  costs of addressing  potential problems are currently not expected
to have a material adverse impact on the Company's financial  position,  results
of operations or cash flows in future periods.

         Other  Income and Expense.  Interest  expense was $359,000 in the first
quarter of fiscal 1999 compared to $251,000 in the first quarter of fiscal 1998.
The  increase  in  interest  expense  for  1999 is  primarily  due to  increased
borrowings  under the Company's line of credit facility needed for the operation
of the  Company's  new  subsidiaries,  which were not in  existence in the first
quarter of fiscal 1998.

         Provision for Income Taxes. The Company's  effective tax rate was 33.4%
in the first  quarter of fiscal 1999  compared to 34.9% in the first  quarter of
fiscal 1998.  The decrease in 1999 was  primarily due to the effect of state and
foreign tax rates and the percentage of state and foreign revenues.


         Net Income. The Company had net income of $564,000 or $.10 per share in
the first  quarter of fiscal 1999  compared to $1.9 million or $.32 per share in
the first quarter of fiscal 1998.  This decrease can be primarily  attributed to
the decrease in the sales volume and other issues as discussed above.

LIQUIDITY AND CAPITAL RESOURCES

         In the first quarter of fiscal 1999 the Company's  operations used $2.0
million of cash  compared to $2.3  million in the first  quarter of fiscal 1998.
The decrease in the net cash used in  operations  is primarily the result of the
Company reducing its inventory  balances.  While the Company's  inventories have

<PAGE>

been reduced by approximately 13% since February 1998,  management believes that
its inventories need to be reduced even further, and is currently in the process
of  developing  and  implementing   aggressive  and  competitive   programs  for
effectively reducing unneeded inventory.

Net cash used in  investing  activities  was  $262,000  in the first  quarter of
fiscal 1999 compared to $423,000 in the first quarter of fiscal 1998. The use of
cash for this activity was primarily  attributable to  expenditures  relating to
new licensing arrangements in 1999.

         Net cash provided by financing activities was $3.3 million in the first
quarter of fiscal 1999  compared to $2.7 million in the first  quarter of fiscal
1998. The cash provided in 1999 was primarily due to proceeds from the Company's
line of credit  facility.  The proceeds on the line of credit facility were used
primarily for the operations of the Company.

         The  Company's  debt to  worth  ratio  was .8 to 1 as of May  31,  1998
compared to .7 to 1 as of  February  28, 1998 and May 31,  1997.  The  Company's
long-term  debt,  which  consists  primarily of a mortgage note on the Company's
facility and obligations  under  endorsement  license  agreements,  less current
maturities,  was  $6.5  million  as of May 31,  1998  (see  Note 6 in  Notes  to
Financial  Statements).  The Company has a revolving  line of credit with a bank
that  provides for  borrowings  of up to $15 million of which $12.1  million was
outstanding at May 31, 1998 and $8.4 million at July 10, 1998. In addition,  the
Company had a line of credit  established with the bank providing for borrowings
of up to $1 million for the purchase of equipment and facility improvements.  As
of May 31,  1998  there  was a  $667,000  balance  outstanding  on  this  credit
facility.

         In connection with these credit facilities,  the Company agreed,  among
other things, to maintain certain minimum financial ratio and income levels. The
Company's ability to comply with the credit facility  covenants may, among other
things, depend on the success of the Company's inventory reduction programs.

         Subject  to  the  foregoing  the  Company  believes  its  current  cash
position,  funds available under existing bank  arrangements  and cash generated
from  operations   will  be  sufficient  to  finance  the  Company's   operating
requirements through fiscal 1999.



<PAGE>


                                     PART II
                                OTHER INFORMATION

Item 5.  Other Information

         Shareholder Proposals at 1999 Annual Shareholders' Meeting. Pursuant to
recent  amendments to the proxy rules under the Securities  Exchange Act of 1934
(17 CFR ss.240.14a),  the Company's  shareholders are notified that the deadline
for giving the Company timely notice of any shareholder proposal to be submitted
outside of the Rule 14a-8 process for consideration at the Company's 1999 Annual
Meeting of Shareholders is April 20, 1999.


Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits.  See Exhibit Index  immediately  following the signature
page of this Form 10-Q.

         (b) Reports on Form 8-K.  No reports on Form 8-K were filed by the 
Registrant during the quarter to which this Form 10-Q relates.


<PAGE>


                                   SIGNATURES

          Pursuant to the  requirements of Section 13 or 15(d) 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.



                             FIRST TEAM SPORTS, INC.


                             By: /s/ John J. Egart
                                  John J. Egart
                                  President and CEO



                             and By: /s/ Robert L. Lenius, Jr.
                                  Robert L. Lenius, Jr.
                                  Vice President and CFO




Dated:   July 14, 1998



<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                           EXHIBIT INDEX TO FORM 10-Q

For Quarter Ended:                                 Commission File No.:  0-16422
May 31, 1998
      -------------------------------------------------------------------

                             FIRST TEAM SPORTS, INC.
      -------------------------------------------------------------------

Exhibit 
Number         Description

3.1            Restated  Articles of  Incorporation -- incorporated by reference
               to  Exhibit  3.1 to the  Company's  Form 10-K for the year  ended
               February 28, 1998

3.2            Bylaws  --  incorporated  by  reference  to  Exhibit  3.2  to the
               Company's Registration Statement on Form S-18 Reg. No. 33-16345C

4.1            Specimen of Common Stock  Certificate--incorporated  by reference
               to 4.1 to the  Registrant's  Annual  Report  on Form 10-K for the
               fiscal year ended February 28, 1991

4.2            Certificate of Designations of Series A Preferred Stock (included
               in Restated Articles of Incorporation -- see Exhibit 3.1)

4.3            Rights  Agreement  dated as of March 15, 1996 between the Company
               and Norwest Bank Minnesota,  N.A. as Rights Agent -- incorporated
               by  reference  to  Exhibit  2.1  to  the  Company's  Registration
               Statement on Form 8-A, Reg. No. 0-16422

4.4            Form of Right Certificate -- incorporated by reference to Exhibit
               2.2 to the Company's Registration Statement on Form 8-A, Reg. No.
               0-16422

4.5            Summary of Rights to Purchase Share of Series A Preferred  Stock-
               incorporated  by  reference  to  Exhibit  2.3  to  the  Company's
               Registration Statement of Form 8-A, Reg. No. 0-16422

27*            Financial Data Schedule (included in electronic version only)