<PAGE>   1

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

                                  FORM 10-Q/A
                                 AMENDMENT NO. 2


[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

For the fiscal quarter ended March 26, 1999

                               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 Number                             0-25246
                                         -----------------------------


                            WINSLOEW FURNITURE, INC.
-------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
                 FLORIDA                                          63-1127982
-------------------------------------------          -----------------------------------
<S>                                                  <C>
(State or other jurisdiction of incorporation        (I.R.S. Employer Identification No.)
            or organization)
</TABLE>



 160 VILLAGE STREET, BIRMINGHAM, ALABAMA                   35242
-------------------------------------------------     ---------------
 (Address of principal executive offices)                (Zip Code)


       (Registrant's telephone number, including Area Code) (205) 408-7600

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.

<TABLE>
<CAPTION>
                                        Shares Outstanding
         Class                            at June 1, 1999
    ---------------                     -------------------
<S>                                     <C>
    $ .01 par value                          7,181,908
</TABLE>


<PAGE>   2


                                EXPLANATORY NOTE

         This Amendment No. 2 on Form 10-Q/A amends and restates Items 1 and 2
of Part I and Item 6 of Part II in their entirety of the Quarterly Report on
Form 10-Q filed by WinsLoew Furniture, Inc. on April 30, 1999, as amended by
Amendment No. 1 on Form 10-Q/A filed on May 5, 1999.


                            WINSLOEW FURNITURE, INC.

                                      INDEX



<TABLE>
<CAPTION>
PART I.          FINANCIAL INFORMATION                                                                       PAGE
<S>                                                                                                          <C>
        Item 1.  Financial Statements
                 Consolidated Balance Sheets...........................................................        3
                 Consolidated Statements of Income.....................................................        4
                 Consolidated Statements of Cash Flows.................................................        5
                 Notes to Consolidated Financial Statements............................................      6-8

        Item 2.  Management's Discussion and Analysis of Financial Condition and Results                     9-12
                     of Operations....................................................................

PART II.         OTHER INFORMATION

        Item 6.  Exhibits and Reports on Form 8-K......................................................        12

Signatures.............................................................................................        13
</TABLE>


                                       2
<PAGE>   3


                    WINSLOEW FURNITURE, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (UNAUDITED)


(In thousands except share and per share amounts)

<TABLE>
<CAPTION>
                                                                             MARCH 26,       DECEMBER 31,
                                                                               1999             1998
                                                                            -----------      -----------
<S>                                                                         <C>              <C>
Assets:
Cash and cash equivalents                                                   $       963      $       475
Cash in escrow                                                                    1,000            1,000
Accounts receivable, less allowances for doubtful accounts                       31,278           23,647
Inventories                                                                      12,926           12,206
Prepaid expenses and other current assets                                         3,891            4,638
                                                                            -----------      -----------
         Total current assets                                                    50,058           41,966

Property, plant and equipment, net                                               13,684           13,948
Goodwill, net                                                                    26,955           27,176
Other assets                                                                      1,129            1,463
                                                                            -----------      -----------
                                                                            $    91,826      $    84,553
                                                                            ===========      ===========

Liabilities and Stockholders' Equity:
Current portion of long-term debt                                           $        35      $        47
Accounts payable                                                                  4,598            4,377
Other accrued liabilities                                                        10,673            9,952
Net liabilities of discontinued operations                                        1,715            1,750
                                                                            -----------      -----------
         Total current liabilities                                               17,021           16,126

Long-term debt, net of current portion                                            6,669            1,400
Deferred income taxes                                                               912              801
                                                                            -----------      -----------
         Total liabilities                                                       24,602           18,327
                                                                            -----------      -----------

Commitments and contingencies

Stockholders' equity:
   Preferred stock, par value $.01 per share, 5,000,000 shares
     authorized, none issued                                                         --               --
   Common stock, par value $.01 per share, 20,000,000 shares
     authorized, 7,181,908 and 7,294,408 shares issued and outstanding
     at March 26, 1999 and December 31, 1998                                         72               73
   Additional paid-in capital                                                    16,612           19,797
   Retained earnings                                                             50,540           46,356
                                                                            -----------      -----------
         Total stockholder's equity                                              67,224           66,226
                                                                            -----------      -----------
                                                                            $    91,826      $    84,553
                                                                            ===========      ===========
</TABLE>



                             See accompanying notes.

                                       3
<PAGE>   4


                    WINSLOEW FURNITURE, INC. AND SUBSIDIARIES
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)



(In thousands except per share amounts)

<TABLE>
<CAPTION>
                                                                     FOR THE QUARTERS ENDED
                                                                    ------------------------
                                                                    MARCH 26,      MARCH 27,
                                                                      1999           1998
                                                                    ---------      ---------
<S>                                                                 <C>            <C>
Net sales                                                           $  32,910      $  27,576
Cost of sales                                                          20,031         17,946
                                                                    ---------      ---------
       Gross profit                                                    12,879          9,630

Selling, general and administrative expenses                            5,725          4,515
Amortization                                                              316            244
                                                                    ---------      ---------
       Operating income                                                 4,667          2,667

Interest expense                                                          123            333
                                                                    ---------      ---------

Income before income taxes                                              6,715          4,538
Provision for income taxes                                              2,531          1,665
                                                                    ---------      ---------
       Net income                                                   $   4,184      $   2,873
                                                                    =========      =========

Basic earnings per share                                            $    0.58      $    0.38
                                                                    =========      =========

Weighted average number of shares                                       7,220          7,535
                                                                    =========      =========

Diluted earnings per share                                          $    0.56      $    0.37
                                                                    =========      =========

Weighted average number of shares and common stock equivalents          7,434          7,683
                                                                    =========      =========
</TABLE>



                             See accompanying notes.


                                       4
<PAGE>   5


                    WINSLOEW FURNITURE, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                                                      FOR THE QUARTERS ENDED
                                                                                     -------------------------
                                                                                     MARCH 26,       MARCH 27,
                                                                                       1999            1998
                                                                                     ---------       ---------
<S>                                                                                  <C>             <C>
Cash flows from operating activities:
Net income                                                                           $   4,184       $   2,873
Adjustments to reconcile net income to net cash provided by (used in) operating
   activities:
Depreciation and amortization                                                              692             607
Provision for losses on accounts receivable                                                377              79
Change in net assets held for sale                                                          --             805
Changes in operating assets and liabilities, net of effects from acquisitions
   and dispositions:
   Accounts receivable                                                                  (8,008)         (6,540)
   Inventories                                                                            (720)           (272)
   Prepaid expenses and other current assets                                               747           2,635
   Other assets                                                                            239            (715)
   Accounts payable                                                                        221           1,203
   Other accrued liabilities                                                               686             485
   Deferred income taxes                                                                   111            (622)
                                                                                     ---------       ---------
     Total adjustments                                                                  (5,655)         (2,335)
                                                                                     ---------       ---------
     Net cash provided by (used in) operating activities                                (1,471)            538
                                                                                     ---------       ---------
   Cash flows from investing activities:
     Capital expenditures, net of disposals                                               (112)           (334)
                                                                                     ---------       ---------
     Net cash used in investing activities                                                (112)           (334)
                                                                                     ---------       ---------
   Cash flows from financing activities:
     Net borrowings under revolving credit agreements                                    5,257             795
     Proceeds from issuance of common stock, net                                            --             168
     Repurchase and cancellation of stock                                               (3,186)             --
                                                                                     ---------       ---------

   Net cash provided by financing activities                                             2,071             963
                                                                                     ---------       ---------
     Net increase in cash and cash equivalents                                             488           1,167
   Cash and cash equivalents at beginning of year                                          475             707
                                                                                     ---------       ---------
   Cash and cash equivalents at end of period                                        $     963       $   1,874
                                                                                     =========       =========

   Supplemental disclosures:
     Interest paid                                                                   $      28       $     259
     Income taxes paid                                                               $     155       $      28
                                                                                     =========       =========
</TABLE>


                             See accompanying notes.



                                       5
<PAGE>   6


                            WINSLOEW FURNITURE, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.       BASIS OF PRESENTATION

         The accompanying unaudited consolidated financial statements of
         WinsLoew Furniture, Inc. and subsidiaries (the "Company" or "WinsLoew")
         that are for interim periods do not include all disclosures provided in
         the annual consolidated financial statements. These unaudited
         consolidated financial statements should be read in conjunction with
         the annual consolidated financial statements and notes thereto
         contained in the Company's Annual Report on Form 10-K for the year
         ended December 31, 1998, as filed with the Securities and Exchange
         Commission.

         All material intercompany balances and transactions have been
         eliminated. The preparation of the consolidated financial statements
         requires the use of estimates in the amounts reported.

         In the opinion of the Company, the accompanying unaudited consolidated
         financial statements contain all adjustments (which are of a normal
         recurring nature) necessary for a fair presentation of the results for
         the interim periods. The results of operations are presented for the
         Company's first quarter, which is from January 1 through March 26,
         1999. The results of operations for this period are not necessarily
         indicative of the results to be expected for the full year.

2.       INVENTORIES

         Inventories consisted of the following:

<TABLE>
<CAPTION>
(In thousands)                                    March 26,       December 31,
                                                    1999             1998
                                                 -----------      ------------
<S>                                              <C>              <C>
Raw materials                                    $     9,739      $      9,288
Work in process                                        1,619             1,521
Finished goods                                         1,568             1,397
                                                 -----------      ------------
                                                 $    12,926      $     12,206
                                                 ===========      ============
</TABLE>


3.       LONG-TERM DEBT

         WinsLoew's amended senior credit facility provides the Company with a
         variable amount available under the revolving line of credit. The
         amount available under its revolving credit line is $20 million between
         July 1 each year through December 31. The Company may, at its option,
         elect to increase the revolving credit line at January 1 through the
         following June 30 to a maximum of $40 million. At January 1, 1999, the
         Company elected to set the maximum amount available under the revolving
         credit line at $35 million.

4.       CAPITAL STOCK

         In January 1998, WinsLoew's Board of Directors approved a plan to
         acquire up to 1,000,000 shares of the Company's common stock. The
         purchases are being funded by the Company's senior credit facility (see
         Note 3 above). At December 31, 1998, there were 704,000 shares
         available under the plan. Since December 31, 1998 and as of March 26,
         1999, the Company has acquired 112,500 shares for $3.2 million.



                                       6

<PAGE>   7

5.       DISCONTINUED OPERATIONS

         At March 26, 1999, there have not been any material changes in the net
         liabilities of discontinued operations as compared to December 31,
         1998.

6.       SEGMENT INFORMATION

         The Company has three segments organized and managed based on the
         products sold. The Company evaluates performance and allocates
         resources based on gross profit. There are no intersegment
         sales/transfers. Export revenues are not material.

<TABLE>
<CAPTION>
                                                             Three Months Ended
                                                           ------------------------
                                                           March 26,      March 27,
                                                             1999           1998
                                                           ---------      ---------
<S>                                                        <C>            <C>
REVENUES:
Casual products                                            $  13,634      $   9,630
Contract seating products                                     15,885         15,498
Ready to assemble products                                     3,391          2,448
                                                           ---------      ---------
         Total revenues                                    $  32,910      $  27,576
                                                           =========      =========
SEGMENT GROSS PROFIT:
Casual products                                            $   6,467      $   4,354
Contract seating products                                      5,619          4,769
Ready to assemble products                                       793            507
                                                           ---------      ---------
         Total segment gross profit                           12,879          9,630
Reconciling items:
Selling, general and administrative expenses                   5,725          4,515
Amortization                                                     316            244
                                                           ---------      ---------
         Operating Income                                      6,838          4,871
Interest expense-net                                             123            333
                                                           ---------      ---------
Income from continuing operations before income taxes      $   6,715      $   4,538
                                                           =========      =========

SEGMENT ASSETS:
Casual products                                            $  60,104      $  51,880
Contract seating products                                     22,808         23,486
Ready to assemble products                                     7,241          6,496
                                                           ---------      ---------
         Total                                                90,153         81,862
Reconciling items:
Corporate                                                      1,673          2,691
                                                           ---------      ---------

         Total consolidated assets                         $  91,826      $  84,553
                                                           =========      =========
</TABLE>

7.       SUBSEQUENT EVENT

          On March 30, 1999, WinsLoew and Trivest Furniture Corporation (the
          "Purchaser"), a Florida corporation formed by Earl W. Powell of
          Trivest, Inc., who is also the Chairman of the Company's Board of
          Directors, amended their Agreement and Plan of Merger to, among other
          things, (1) increase the per share cash purchase price from $30.00 per
          share to $33.00 per share, (2) increase the "break-up" fee, and (3)
          eliminate the Purchaser's financing condition. The amendment to the
          Agreement and Plan of Merger was approved by WinsLoew's Board of
          Directors, as well as the Special Committee of the Board appointed to
          evaluate the initial Trivest proposal and possible strategic
          alternatives.


                                       7

<PAGE>   8

         Pursuant to the amended agreement, the proposed merger is subject,
         among other things, to (1) shareholder approval and (2) compliance with
         all applicable regulatory and governmental requirements. Accordingly,
         there can be no assurance that the merger will be consummated.


                                       8
<PAGE>   9


           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS


GENERAL

WinsLoew is comprised of companies engaged in the design, manufacture and
distribution of casual furniture and contract seating furniture. WinsLoew's
casual furniture products are distributed through independent manufacturer's
representatives and are constructed of extruded and tubular aluminum and cast
aluminum. These products are distributed through fine patio stores, department
stores and full line furniture stores nationwide. WinsLoew's contract seating
products are distributed to a broad customer base, which includes architectural
design firms and restaurant and lodging chains.

During 1997 the Company adopted a plan to dispose of its RTA operations.
WinsLoew's RTA products included ergonomically-designed computer workstations,
which the Company denoted as "space savers", promotionally-priced coffee and end
tables, wall units and rolling carts and an extensive line of futons, futon
frames and related accessories. Distribution of RTA furniture products was
primarily through mass merchandisers, catalogue wholesalers and specialty
retailers.

The Company planned to sell two of the businesses and liquidating the assets
related to the futon business. During 1998 the Company sold one of the
businesses, completed the liquidation of the futon business and decided to
retain its Southern Wood business (see Note 2 to Notes to the Consolidated
Financial Statements).

The amounts reflected hereafter include Southern Wood as a continuing operation.

RESULTS OF OPERATIONS

The following table sets forth net sales, gross profit, and gross margin as a
percent of net sales for the respective periods for each of the Company's
product lines (in thousands, except for percentages):

<TABLE>
<CAPTION>
                                              Three Months Ended
                      -------------------------------------------------------------------
                                March 26, 1999                     March 27, 1998
                      -------------------------------      ------------------------------
                        Net         Gross      Gross         Net        Gross      Gross
                       Sales        Profit     Margin       Sales       Profit     Margin
                      -------      -------     ------      -------      ------     ------
<S>                   <C>          <C>         <C>         <C>          <C>        <C>
Casual furniture      $13,634      $ 6,467      47.4%      $ 9,630      $4,354      45.2%
Contract seating       15,885        5,619      35.4%       15,498       4,769      30.8%
RTA                     3,391          793      23.4%        2,448         507      20.7%
                      -------      -------                 -------      ------
         Total        $32,910      $12,879      39.1%      $27,576      $9,630      34.9%
                      =======      =======                 =======      ======
</TABLE>


                                       9
<PAGE>   10


The following table sets forth certain information relating to the Company's
operations expressed as a percentage of the Company's net sales:

<TABLE>
<CAPTION>
                                                                         Three Months Ended
                                                                       -----------------------
                                                                       March 26,     March 27,
                                                                         1999           1998
                                                                       ---------     ---------
<S>                                                                    <C>           <C>
Gross margin                                                             39.1%          34.9%
Selling, general and administrative expense                              17.4%          16.4%
Amortization                                                              1.0%           0.9%
Operating income                                                         20.7%          17.7%
Interest expense, net                                                     0.4%           1.2%
Income before income taxes                                               20.3%          16.5%
Net income                                                               12.7%          10.4%
</TABLE>

COMPARISON OF FIRST QUARTERS ENDED MARCH 26, 1999 AND MARCH 27, 1998

Net Sales: WinsLoew's consolidated net sales for the first quarter of 1999,
$32.9 million, increased $5.3 million or 19.3% from $27.6 million in the first
quarter of 1998. The Company's Casual and RTA product lines experienced strong
sales increases, while the Contract Seating product line was relatively flat
during the first quarter of 1999, increasing 2.5%. Sales of casual products
increased 41.6% in the first quarter of 1999, compared to the first quarter of
1998. If Tropic Craft, which was purchased in the third quarter of 1998, is
excluded, sales of casual products increased 29.2%. Management believes that
this increase in demand is primarily due to the Company's emphasis on quality,
leading the industry through innovative designs and providing customer
flexibility with its delivery program. The Company's PDQ shipping program
provides exceptional customer value by allowing quick response during the casual
market's short retail selling season. RTA product sales increased 38.5% in the
first quarter of 1999, compared to the first quarter of 1998, primarily due to
increased demand across the board on all RTA furniture.

Gross Margin: Consolidated gross margin was 39.1% in the first quarter of 1999,
compared to 34.9% in the first quarter of 1998. All three of the Company's
product lines contributed to the increase in gross margin. The casual product
line gross margin improved to 47.4% in the first quarter of 1999 compared to
45.2% in the first quarter of 1998, due to increased demand and improved
operating efficiencies. The gross margin for contract seating products improved
to 35.4% in the first quarter of 1999 compared to 30.8% in the first quarter of
1998 due to a favorable product mix and improved profit margins on its core
products. The RTA product line gross margin improved to 23.4% in the first
quarter of 1999 compared to 20.7% in the first quarter of 1998, due to increased
demand and improved operating efficiencies.

Selling, General and Administrative Expenses: Selling, general and
administrative (SG&A) expenses increased $1.2 million in the first quarter of
1999, compared to the first quarter of 1998 SG&A expense of $4.5 million. The
increase was primarily the result of sales related expenditures.

Operating Income: As a result of the above, operating income increased by $1.9
million, to $6.8 million (20.7% of net sales) in the first quarter of 1999
compared to $4.9 million (17.7% of net sales) in the first quarter of 1998.

Interest Expense: The Company's interest expense decreased $210,000 in the first
quarter of 1999, compared to the first quarter of 1998, due to lower outstanding
debt balances.

Provision for Income Taxes: The Company's effective tax rate for the first
quarter of 1999 was 37.7% compared to 36.7% for the first quarter of 1998. The
effective tax rate is greater than the federal statutory rate primarily due to
the effect of state income taxes and non-deductible goodwill amortization.


                                       10

<PAGE>   11

SEASONALITY AND QUARTERLY INFORMATION

The furniture industry is cyclical and sensitive to changes in general economic
conditions, consumer confidence, discretionary income, and interest rate levels
and credit availability.

Sales of casual products are typically higher in the second and fourth quarters
of each year, primarily as a result of: (1) high retail demand for casual
furniture in the second quarter, preceding the summer months, and (2) the impact
of special sales programs on fourth quarter sales. The Company's casual product
sales will also be affected by weather conditions during the peak retail selling
season with a resulting impact on consumer purchases of outdoor furniture
products.

The results of operations for any interim quarter are not necessarily indicative
of results for a full year.

LIQUIDITY AND CAPITAL RESOURCES

The WinsLoew's short-term cash needs are primarily for working capital to
support its debt service, accounts payable, and inventory requirements. The
Company has historically financed its short-term liquidity needs with internally
generated funds and revolving credit facility borrowings. The Company actively
monitors its cash balances and applies available funds to reduce borrowings
under its long-term revolving line of credit. At March 26, 1999, the Company has
$33.0 million of working capital and $24.6 million of unused and available funds
under its credit facilities.

In May 1998, WinsLoew amended its senior credit facility to provide for capital
stock purchases not to exceed, in aggregate, $10 million (see Note 4 to the
Consolidated Financial Statements). As of March 26, 1999 there was $2.9 million
available for such repurchases.

Cash Flows From Operating Activities: Cash provided by (used in) operating
activities was $(1.5) million and $0.5 million for the first three months of
1999 and 1998, respectively. The decrease in cash provided by operations in the
first three months of 1999 compared to 1998 was primarily due to the overall
improvement in profits and its seasonal effect on accounts receivable.

Cash Flows From Investing Activities: Cash used in investing activities was $0.1
million and $0.3 million for the first three months of 1999 and 1998,
respectively. Cash used by investing activities for the first three months of
1999 and 1998 was primarily due to the purchase of machinery and equipment.

Cash Flows From Financing Activities: Net cash provided by financing activities
was $2.1 million in the first three months of 1999 compared to $1.0 million in
the first three months of 1998. Cash was provided by the Company's revolving
credit facilities (see Note 3 to the Consolidated Financial Statements) to
repurchase shares of the Company's stock (see Note 4 to the Consolidated
Financial Statements), and provide for seasonal working capital needs.

At March 26, 1999, the Company has no material commitments for capital
expenditures.

FOREIGN EXCHANGE FORWARD CONTRACTS

WinsLoew purchases some raw materials from several Italian suppliers. These
purchases expose the Company to the effects of fluctuations in the value of the
U.S. dollar versus the Italian lira. If the U.S. dollar declines in value versus
the Italian lira, the Company will pay more in U.S. dollars for these purchases.
To reduce its exposure to loss from such potential foreign exchange
fluctuations, the Company will occasionally enter into foreign exchange forward
contracts. These contracts allow the Company to buy Italian lira at a
predetermined exchange rate and thereby transfer the risk of subsequent exchange
rate fluctuations to a third party. However, if the Company is unable to
continue such forward contract activities and the Company's inventories increase
in connection with expanding sales activities, a weakening of the U.S. dollar
against the Italian lira could result in reduced gross margins. The Company did
not enter into and did not have outstanding any foreign currency forward
contracts during


                                       11
<PAGE>   12

the first quarter of 1999. The Company elected to hedge a portion of its
exposure to purchases made in 1998 by entering into foreign currency forward
contracts with a value of $1.7 million, all of which were outstanding and
unsettled at March 27, 1998, maturing at approximately $330,000 per month. The
Company did not incur significant gains or losses from these foreign currency
transactions.

YEAR 2000

         The Year 2000 issue is the result of computer programs being written
using two digits rather than four digits to define the applicable year. Computer
programs that have time-sensitive software may recognize a date using "00" as
the year 1900 rather than the year 2000. This error could potentially result in
a system failure or miscalculation causing disruptions to operations.

         In mid-1995, the Company began an assessment of the Year 2000 issue on
its internal information technology systems and other non-information technology
systems such as facility automation control systems, third-party network systems
and other embedded technology and microcontrollers, as well as for the
replacement or correction of all such systems required in the new millennium.
Based on the assessment, the Company determined that it was necessary to replace
portions of its software and hardware so that those systems will properly
utilize dates beyond December 31, 1999, including third-party network equipment,
software products and services.

         As of March 26, 1999, the Company has completed testing and remediation
of approximately 95% of its continuing operations business critical systems at
an aggregated cost of approximately $500,000, representing approximately 20% of
the Company's IT budget for the last four years, which has been obtained from
internally generated funds. Substantially all of these costs were for planning,
analysis, repair or replacement of existing software, upgrades of existing
software or evaluation of information received from material suppliers and
customers. Non-information technology systems do not represent a significant
component of the Company's operations. The Company deducts these costs from
income. Other non-Year 2000 efforts have not been materially delayed.

         The Company has contacted and received responses from all of its
material suppliers and customers concerning Year 2000 compliance. Based on these
discussions the Company is not aware of any supplier or customer with a Year
2000 issue that would materially impact its financial position, results of
operations or liquidity. The Company did not use any independent verification or
validation process to assure the reliability of their risk and cost estimates.
Consequently, the Company has no means of ensuring that suppliers or customers
will be Year 2000 ready. The effect of non-compliance by third parties is not
determinable.

         Management believes that it has substantially completed an effective
program to resolve the Year 2000 issue in a timely manner. In the event that the
Company's program is not successful, management believes that it has established
adequate contingency plans whereby the Company would rely on its own manual
systems, independent of external providers' Year 2000 compliance, maintain
increased inventory levels and adjust staffing levels for its business critical
systems. Management believes that such an event would not materially affect the
Company's financial position or results of operations. However, disruptions in
the general economy resulting from Year 2000 issues could adversely affect the
Company's financial condition or results of operations.

                           PART II. OTHER INFORMATION


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits:  27 - Financial Data Schedule

         (b)      Reports on Form 8-K

                  During the quarter for which this Quarterly Report on Form
                  10-Q is filed, the Registrant filed a current report on Form
                  8-K, dated March 11, 1999.

                  During the quarter for which this Quarterly Report on Form
                  10-Q is filed, the Registrant filed a current report on Form
                  8-K, dated April 1, 1999.

                                       12
<PAGE>   13


                                   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.



                                     WINSLOEW FURNITURE, INC.



June 4, 1999                        By: /s/ Bobby Tesney
                                        ----------------------------------------
                                          Bobby Tesney
                                          President and Chief Executive Officer





June 4, 1999                        By: /s/ Vincent A. Tortorici, Jr.
                                        ----------------------------------------
                                          Vincent A. Tortorici, Jr.
                                          Chief Financial Officer



                                       13