UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, DC 20549

                                  10-QSB

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


FOR QUARTER ENDED  January 31, 2003     COMMISSION FILE NO. 0-8512
                  ------------------                      --------

                         MONARCH SERVICES, INC.
------------------------------------------------------------------
 (Exact name of small business issuer as specified in its charter)


          Maryland                         52-1073628
---------------------------------  ------------------------------
(State or other jurisdiction of  (IRS Employer Identification No.)
        incorporation)


     4517 Harford Road, Baltimore, Maryland               21214
------------------------------------------------       ----------
    (Address of principal executive offices)           (Zip Code)


Issuer's telephone number, including area code       410-254-9200
                                                     ------------
                              Not applicable
-----------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last
report.

Check whether the issuer (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
past 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 [   ]

As of January 31, 2003, the number of shares outstanding of the issuer's
common stock was 1,619,620 shares.

Transitional Small Business Issue Format (check one):

                              YES [   ]      NO [ X ]

















<TABLE>
PART I.      FINANCIAL INFORMATION

ITEM I.  FINANCIAL STATEMENTS

         MONARCH SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)
<CAPTION>
                                                   January 31, 2003
                                                   ------------------
                                                     (000's Omitted)
<S>                                                      <C>
ASSETS
CURRENT ASSETS

  Cash and cash equivalents                              $  448
  Certificate of deposit                                  2,755
  Accounts receivable, net                                  378

  Marketable securities available
       for sale, net                                         24
  Inventory                                                 220
  Prepaid expenses                                          137
  Income taxes receivable                                   429
                                                          -----
           TOTAL CURRENT ASSETS                           4,391

PROPERTY AND EQUIPMENT
   Leasehold improvements                                   362
   Machinery, equipment, furniture and fixtures             527
                                                          -----
                                                            889
   Less accumulated depreciation                           (618)
                                                          -----
                                                            271
   Buildings and other assets held for sale                  32
   Investment in Peerce's Plantation GL                   2,582
                                                          -----
           TOTAL PROPERTY AND EQUIPMENT                   2,885
                                                          -----
   Trademarks - net                                          10
                                                          -----
             TOTAL ASSETS                                $7,286
                                                          -----
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
   Accounts payable                                      $  285
   Accrued expenses                                          42
   Deferred subscription revenues                         1,729
                                                         ------
           TOTAL CURRENT LIABILITIES                      2,056
                                                         ------
DEFERRED INCOME TAXES                                       103
                                                         ------
STOCKHOLDERS' EQUITY
   Common Stock - par value $.001 per share:
      Authorized - 10,000,000 shares;
      shares outstanding 1,619,620                            2
   Capital surplus                                        3,781
   Retained earnings                                      1,359
   Accumulated other comprehensive income (loss)            (15)
                                                         ------
             TOTAL STOCKHOLDERS' EQUITY                   5,127
                                                          -----
   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY            $7,286
                                                          -----
<FN>
<F1>
See notes to Consolidated Financial Statements.
</FN>
</TABLE>
<PAGE>
<TABLE>

                     MONARCH SERVICES, INC. AND SUBSIDIARY
                CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
<CAPTION>
                                        Three Months Ended     Nine Months Ended
                                           January 31,            January 31,
                                        ------------------     -----------------

                                         2003       2002       2003       2002
                                         ----       ----       ----       ----

                                          (000's omitted, except per share data)

<S>                                    <C>       <C>          <C>       <C>
Net Sales - publishing                 $  677    $   659      $ 2,557   $ 2,838
Net Sales - retail                        167         41          473        41
                                       -------------------    ------------------
                                          844        700        3,030     2,879

Cost of goods sold - publishing           748        692        2,515     2,156
Cost of goods sold - retail               169         67          537        71
                                       -------------------    ------------------
                                          917        759        3,052     2,227
                                       -------------------    ------------------
Gross profit (loss) from continuing
   operations                             (73)       (59)         (22)      652
                                       -------------------    ------------------
Selling, general and
   administrative expenses                381        368        1,224     1,195
                                       -------------------    ------------------
Loss before other income
   and income taxes                      (454)      (427)      (1,246)     (543)

Other income:
   Investment and interest income          30         80          109       273
   Other                                    0          1            5         3
                                       -------------------    ------------------
                                           30         81          114       276
                                       -------------------    ------------------
Loss from continuing operations
   before income tax                     (424)      (346)      (1,132)     (267)

Income tax (benefit)                        0       (135)        (240)      (91)
                                       -------------------    ------------------
Net loss from
   continuing operations                 (424)      (211)        (892)     (176)
                                       -------------------    ------------------
Discontinued Operations:
   Operating loss from "Adam"
   magazine (net of income tax
   benefit of $0 and $18) for the
   quarter ended January 31, 2001
   and 2002 (net of income tax benefit
   of $12 and $49) for the nine months
   ended January 31, 2003 and 2002
   respectively                             0        (35)         (22)      (96)

   Operating loss from "Girls'
   Life Living" food court
   (net of income tax benefit of
   $18 and $39) for the quarter
   ended January 31, 2002 and for
   the nine months ended January
   31, 2002                                 0        (34)           0       (76)

   Gain on disposal of assets from
   "Girls Life Living" food court
   (net of income tax expense of
   $5) for the nine months ended
   January 31, 2003                         0          0           11         0

   Loss on assets held for sale            (7)         0           (7)        0

                                      --------------------     -----------------
Loss from discontinued operations          (7)        (69)         (18)    (172)
                                      --------------------     -----------------
Net Income (loss)                     $  (431)     $ (280)       $(910) $  (348)

Net loss per common share
   basic and diluted:

Loss from continuing operations
   per share                          $ (0.27)     (0.13)      (0.55)     (0.11)

Loss from discontinued operations        0.00      (0.04)      (0.01)     (0.10)
                                      -------------------     ------------------
Net loss per common share -
   basic and diluted                  $ (0.27)     (0.17)      (0.56)     (0.21)
                                      -------------------     ------------------
Weighted average number of
     shares outstanding - basic       1,619,620 1,619,820    1,619,620 1,619,820
                                      --------------------   -------------------
Weighted average number of shares
     outstanding - diluted            1,619,620 1,619,820    1,619,620 1,619,820
                                      --------------------   -------------------

<FN>
<F1>
See Notes to Consolidated Financial Statements.
</FN>
</TABLE>
<PAGE>
<TABLE>
               MONARCH SERVICES, INC. AND SUBSIDIARY
          CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
<CAPTION>
                                                     Nine Months Ended
                                                        January 31,
                                                     -----------------
                                                     2003         2002
                                                     ----         ----
                                      (000's Omitted, except per share date)

<S>                                              <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                         $   (910)     $  (348)
  Adjustments to reconcile net loss                ------       ------
  to net cash used by operating
  activities:
     Depreciation and amortization                     46           79
     Deferred income taxes                           (127)        (195)
     Increase/decrease in operating
       assets and liabilities:
          Accounts receivable, income
          taxes receivable, inventory,
          prepaid expenses, accounts
          payable, accrued expenses
          and deferred subscription
          revenue                                      56         (332)
                                                   ------       ------
Total cash used by operating activities              (935)        (796)
                                                   ------       ------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of property and equipment,
     intangible assets and improvements              (491)      (2,391)
  Proceeds from sales of assets held for
     sale                                              81            0
  Maturity/redemption of certificates
     of deposit                                     1,914        2,274
                                                   ------       ------
    Total cash provided (used) by
      investing activities                          1,504         (117)
                                                   ------       ------
NET INCREASE (DECREASE)IN CASH AND CASH
    EQUIVALENTS                                       569         (913)

CASH AND CASH EQUIVALENTS (OVERDRAFT)
  BEGINNING OF PERIOD                                (121)       1,122
                                                   ------       ------
CASH AND CASH EQUIVALENTS
  END OF PERIOD                                   $   448      $   209
                                                   ======       ======
<FN>
<F1>
See Notes to Consolidated Financial Statements.
</FN>
</TABLE>





                MONARCH SERVICES, INC. AND SUBSIDIARY
         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


NOTE A - BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements include
Monarch Services, Inc., "Monarch" and its wholly-owned active
subsidiaries, Girls' Life, Inc., Girls Life.com, Inc. and Adam Leaf
and Bean, Inc. and the discontinued operations of Adam Magazine,
Inc. and Girls' Life Living (collectively referred to herein
as the "Company"). The unaudited consolidated financial statements
have been prepared in accordance with the instructions to Form 10-QSB
and do not include all of the information and disclosures required
by accounting principles generally accepted in the United States
of America for complete financial statements.  Certain reclassifications
have been made to amounts previously reported to conform with the
classifications made in 2003. In the opinion of management, all
adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  All material
intercompany balances between Monarch and its subsidiaries have been
eliminated in consolidation.  Operating results for the three months
ending January 31, 2003 and the nine months ending January 31, 2003
are not necessarily indicative of the results that may be expected
for the fiscal year ending April 30, 2003.  There has been no
significant change to the Company's accounting policies as disclosed
in the annual report.  For further information, reference should be
made to the financial statements and notes included in the Company's
annual report on Form 10-KSB for the fiscal year ended April 30, 2002.

Girls' Life magazine subscriptions are sold through traditional sources
such as direct-mail solicitation, insert cards and subscription agents.
The magazine is also sold on newsstands and subscriptions can be obtained
or renewed through the Internet on the Girls' Life website www.girlslife.
com.  Newsstand copies are distributed nationally and internationally
by Warner Publisher Services, Ingram Periodicals, Inc., and Worldwide
Media Services, Inc.

The subscription price of a one year Girls' Life subscription is between
$14.95 and $17.85 however the amount realized by the Company may be less
if a subscription service is used.  The suggested newsstand price of a
single issue of Girls' Life in the United States is $3.50.

The average number of magazines sold for four issues during the
nine months of fiscal year 2003 is set forth in the following
table.


Distribution Channel           Number of Magazines Distributed
--------------------           -------------------------------

   Newsstand Sales                         50,000

   Subscription Sales                     308,000
                                         ---------
      Total Paid Circulation              358,000


   Complimentary Copies                     1,000



The following table sets forth the average number of magazines sold
in the domestic and international markets for four issues during the
nine months of fiscal year 2003.


Geographic Distribution               Number of Magazines Sold
-----------------------               ------------------------

      United States                          304,000

      International                            4,000



NOTE B - ACCOUNTS RECEIVABLE

Accounts receivable consist of the following at January 31, 2003 (in
thousands).


Accounts receivable - publishing           $ 427
Accounts receivable - retail                   1
                                           ------
   Total accounts receivable                 428

Less:
  Allowance for doubtful accounts            (50)
                                           ------
                                           $ 378
                                           ------


NOTE C - INVENTORIES

The Company values inventories at the lower of average cost (first-in,
first-out) or market.  Inventory at January 31, 2003 is primarily related
to the Adam Leaf and Bean retail operation.


NOTE D - INCOME TAXES

As a result of the Job Creation and Worker Assistance Act of 2002 ("2002
Act") that was signed by President Bush in March 2002, entities with net
operating losses arising in tax years ending in 2001 and 2002 are allowed
to carryback those losses for five years.  Prior to the 2002 Act, loss
carrybacks were only permitted for two years.  The Company has only
recorded tax benefits to the extent carryback claims are available, and
has not recorded any tax benefit associated with the future realization
of operating losses.


NOTE E - DISCONTINUED OPERATIONS

DISCONTINUED PUBLICATION OF ADAM MAGAZINE

Effective with the June/July 2002 issue of "Adam" magazine that went on
sale in May 2002, the Company terminated the publication of Adam Magazine.
All sales and costs associated with Adam Magazine have been reclassified
as Discontinued Operations.

Net sales and loss from discontinued operation of "Adam" magazine are as
follows (in thousands):

                                           Nine Months Ended January 31,

                                               2003            2002
                                            --------------------------

       Net sales                            $     0         $     0

       Loss from discontinued operations
         (net of tax)                           (22)            (96)


Estimated salary and other termination and exit costs were adjusted during
the nine months ended January 31, 2003 upon settlement of those obligations.
This adjustment (net of tax) resulted in $22,000 of expense to be recognized
during the nine months ended January 31, 2003.


DISCONTINUED OPERATIONS OF GIRLS LIFE LIVING

Effective July 2002, "Girls Life Living" food court was closed.  All sales
and costs associated with Girls Life Living have been reclassified as
Discontinued Operations.

Net sales and loss from discontinued operations of "Girls Life Living" food
court are as follows (in thousands):

                                           Nine Months Ended January 31,

                                               2003            2002
                                            --------------------------

       Net sales                            $     8         $      0

       Loss from discontinued operations
         (net of tax)                             0              (76)

       Gain on disposal of assets
         (net of tax)                            11                0


Based upon information available at the time, the Company estimated a loss on
the disposal of certain assets of $91,000 as of April 30, 2002.  Upon actual
disposition of the assets, an adjustment to the accrued loss resulted in a
gain of $11,000 (net of tax) to be recognized during the nine months ended
January 31, 2003.


RECENT ACCOUNTING ANNOUNCEMENTS

ACCOUNTING FOR STOCK-BASED COMPENSATION: In December 2002, the Financial
Accounting Standards Board issued Statement of Accounting Standards
("SFAS") No. 148, "Accounting for Stock-Based Compensation - Transition
and Disclosure", which provides guidance on how to transition from the
intrinsic value method of accounting for stock-based employee compensation
under APB 25 to SFAS 123's fair value method of accounting, if a company
so elects.

ACCOUNTING FOR LONG-LIVED ASSETS: SFAS 144, "Accounting for the Impairment
or Disposal of Long-Lived Assets", was issued in October 2001 and addresses
how and when to measure impairment on long-lived assets and how to account
for long-lived assets that an entity plans to dispose of either through
sale, abandonment, exchange, or distribution to owners.  The statement's
provisions supersede SFAS 121, "Accounting for the Impairment of Long-Lived
Assets and for Long-Lived Assets to Be Disposed Of", which addressed asset
impairment, and certain provisions of APB Opinion 30 related to reporting
the effects of the disposal of a business segment and requires expected
future operating losses from discontinued operations to be recorded in
the period in which the losses are incurred rather than the measurement
date.  Under SFAS 144, more dispositions may qualify for discontinued
operations treatment in the income statement.  The provisions of SFAS
144 did not have a material impact on results of operations.



ITEM 2.             MONARCH SERVICES, INC. AND SUBSIDIARIES

                    MANAGEMENT'S DISCUSSION AND ANALYSIS OF

                 FINANCIAL CONDITION AND RESULTS OF OPERATIONS

For purposes of this discussion references to fiscal 2003 are to the quarter
and the nine months ending January 31, 2003, and references to fiscal 2002 are
to the quarter and nine months ending January 31, 2002.


CERTAIN CAUTIONARY INFORMATION

In connection with the Private Securities Litigation Reform Act of 1995
(the "Litigation Reform Act"), we are hereby disclosing certain cautionary
information to be used in connection with written materials (including this
Report on Form 10-QSB) and oral statements made by or on behalf of our
employees and representatives that may contain forward-looking statements
within the meaning of the Litigation Reform Act.  Such statements consist
of any statement other than a recitation of historical fact and can be
identified by the use of forward-looking terminology such as may, expect,
will, anticipate, estimate or continue or the negative thereof or other
variations thereon or comparable terminology.  You are cautioned that all
forward-looking statements are necessarily speculative and there are numerous
risks and uncertainties that could cause actual events or results to differ
materially from those referred to in such forward-looking statements.  The
discussion contained in our Annual Report on Form 10-KSB for the fiscal year
ended April 30, 2002 and incorporated herein by reference highlights some of
the more important risks we have identified, but should not be assumed to
be the only factors that could affect future performance.  Included in these
risks are our new business lines, history of losses, our fluctuations in
operating results, competition and other risks set forth herein and in our
annual report on Form 10-KSB for the fiscal year ended April 30, 2002 and
in other reports we have filed.  We also note that there is a substantial
possibility that the United States and its allies will engage in armed
conflict in Southwest Asia.  Any such conflict is likely to have an
unpredictable and possibly negative impact on our businesses. You are
cautioned that we do not have a policy of updating or revising
forward-looking statements and thus you should not assume that our
silence over time means that actual events are bearing out as estimated
in such forward-looking statements.


APPLICATION OF CRITICAL ACCOUNTING POLICIES

These consolidated financial statements are prepared in accordance with
accounting principles generally accepted in the United States.  Application
of these principles requires management to make estimates, assumptions,
and judgments that affect the amounts reported in the financial statements
and accompanying notes.  These estimates, assumptions, and judgments are
based on information available as of the date of the financial statements;
accordingly, as this information changes, the financial statements could
reflect different estimates, assumptions, and judgments.  Certain policies
inherently have a greater reliance on the use of estimates, assumptions,
and judgments and as such have a greater possibility of producing results
that could be materially different than originally reported.  We believe
the most critical accounting policies relate to revenue recognition
associated with subscription sales.  The Company currently recognizes
income on its magazine subscriptions over the expected life of the
subscription.



PEERCE'S PLANTATION GL

Renovation of Peerce's Plantation GL began in the spring of 2002.
Structural damage in certain parts of the restaurant building were
more extensive than we originally believed and have delayed our
opening.  We currently expect that the restaurant will open in the
first quarter of fiscal 2004.  Additional difficulties with the
renovations including additional structural damage, permitting
issues, weather related delays or other issues could result in
additional delays in our expected opening date. The restaurant and
bar will maintain the same original configuration but some areas are
being expanded to improve the flow of customers through the restaurant
and bar areas. We have hired a general manager and executive chef to
operate the restaurant and bar.  A director of catering has also been
hired to coordinate catered affairs.  Restaurant and catering menu's
are based on traditional Maryland fare with a European flavor and
prices for entrees and other items are being set to be competitive
in the upscale restaurant market place in central Maryland . As of
January 31, 2003, we have capitalized $529,000 in improvements for
Peerce's Plantation GL.

ANNUAL MEETING

The 2003 Annual Meeting of Stockholders is currently scheduled to be
held at 10 A.M. on October 21, 2003, at Peerce's Plantation Gl,
12460 Dulaney Valley Road, Phoenix, Maryland 21131.


RESULTS OF OPERATIONS

We have two operating subsidiaries. Girls' Life, Inc., publishes a
magazine and Adam Leaf and Bean, Inc. sells tobacco, coffee and
related products on a retail basis.


RESULTS FOR THE THIRD QUARTER OF FISCAL YEAR 2003 AND 2002


The revenues of Girls' Life, Inc. are seasonal in nature.  Girls' Life magazine

is published six times per year.  The Company's typical publication schedule
usually results in the accrual of revenues for one issue in the first and third
quarters of the fiscal year and the accrual of revenues for two issues in the
second and fourth quarters of the fiscal year.  The publication schedule is
subject to revision without notice. There was one issue of Girls' Life magazine
in the third quarter of fiscal years 2003 and 2002.  There were four issues of
Girls' Life magazine in the nine months of fiscal years 2003 and 2002.

Publishing sales of Girls' Life increased $18,000 or 3% in the third
quarter of fiscal 2003 from the third quarter of fiscal 2002.  The net
increase in sales relates primarily to a increase in revenue from
editorial services from third parties offset by a decrease in subscription,
advertising and newsstand revenue. Subscription revenue was $308,000
and remained relatively consistent in the third quarter of fiscal 2003
compared to the third quarter of fiscal 2002. There have been declines in
subscription revenue in past quarters which are attributable to lower
remittances from subscription agencies.  We have noticed a trend toward
lower subscription remittances from our subscription agencies caused,
we believe, by the strong competitive position of the limited number of
agencies in the market.  We expect this trend to continue.  We use subscription
agencies to expand our subscription base for Girls' Life Magazine.  Revenue
from subscriptions sold through subscription agencies is less than the revenue
received from subscriptions sold directly to the customer. Advertising revenue
decreased by $163,000, or 64%, to $91,000 in the third quarter of fiscal
2003 from the prior comparable period.  Management believes that advertising
revenue is still adversely affected by an industry-wide decline in the demand
for advertising due to current economic conditions in the United States.
Newsstand revenue decreased by $7,000, or 7%, to $88,000 in the third
quarter of fiscal 2003 from the prior comparable period. Revenue from
editorial services to third parties increased by $130,000 in the third
quarter of fiscal 2003 from the prior comparable period.

Sales of the retail operations, Adam Leaf and Bean tobacco and coffee shop,
increased by $126,000 or 307%, to $167,000 in the third quarter of fiscal
2003 from the prior comparable period. Because Adam Leaf and Bean opened
in November 2001, it was better able to promote and advertise for the 2002
holiday season as compared to the 2001 holiday season.  Also, Adam Leaf
and Bean was not open for the entire 2001 quarter.  The combined total
sales for publishing and the one retail operation increased $144,000, or
21%, in the third quarter of fiscal 2003.

We believe that Adam Leaf and Bean is still in its start-up stage.  We
have noted that sales have increased each quarter since opening; however;
since third quarter sales includes sales for the holiday season, this
trend may not continue in future periods.

Total cost of goods sold, as a percent of total sales was 109% in the third
quarter of fiscal 2003 compared to 108% in the third quarter of fiscal 2002.
Cost of goods sold for publishing, as a percent of sales was 110% in the
third quarter of fiscal 2003 compared to 105% in the third quarter of fiscal
2002.  The percentage increase in the cost of goods sold for publishing was
primarily attributable to increased costs in connection with our book
publishing efforts, cost of direct mail promotion and printing costs
associated with third party editorial services. Furthermore, some fixed
costs associated with magazine production are incurred regardless of the
number of issues that are produced and sold during the quarter.  Since we
only recognize revenue from one issue in the third quarter, these fixed
costs inflate our costs of sales for the third quarter as compared to
quarters in which we recognize revenue from two issues.

Cost of goods sold for the retail sales, as a percent of sales was 101% in
the third quarter of fiscal 2003 compared to 163% in the third quarter of
fiscal 2002. Included in the cost of sales for the three months ended is
$3,000 of depreciation expense.  Adam Leaf and Bean is still considered
to be in its start-up stage.

Cost of goods sold includes certain direct overhead costs that are fixed
and do not fluctuate as a result of the sales volume.  Certain other costs
are not fixed and do fluctuate with the sales volume.  As sales increase,
we expect the fixed costs to decrease as a percentage of sales.

Selling, general and administrative expenses as a percentage of sales were 45%
for the third quarter of fiscal 2003 compared to 53% in the prior comparable
period. Although selling, general and administrative expenses as a percent of
sales decreased, actual expenditures for selling, general and administrative
increased for the third quarter of fiscal 2003 compared to the third quarter
of fiscal 2002.  The increase for the third quarter of fiscal 2003 was
primarily due to the additional selling, general and administrative costs
associated with  Adam Leaf and Bean. Also costs associated with Peerce's
Plantation GL have been classified as selling, general and administrative
expenses for the third quarter of fiscal 2003. These costs which include
salaries for the general manager, chef and director of catering, were
$77,000 for the three months ended January 31, 2003. Promotional expenses
for Girls' Life magazine increased $5,000, or 6 %, for the third quarter of
fiscal 2003 compared to the prior comparable period.  Although these expenses
are recognized in the current period, they may benefit future periods.
We expect to continue our strategy of promoting Girls' Life Magazine,
Peerce's Plantation and Adam Leaf and Bean in future periods.

Revenues and costs associated with "Adam" magazine and "Girl's Life Living"
food court have been reclassified as discontinued operations for the third
quarter of fiscal 2003 and 2002.

Other income decreased $51,000 in the third quarter of fiscal 2003 compared
to the third quarter of fiscal 2002.  The decrease was primarily due to the
decrease in interest income due to a lower interest rate environment and
decreased cash balances.

One of the two properties classified as held for sale was sold during the
third quarter.  Gross proceeds from the sale were $81,000 resulting in a
loss of $7,000.


RESULTS FOR THE FIRST NINE MONTHS OF FISCAL YEAR 2003 AND 2002

Publishing sales of Girls' Life decreased $281,000, or 10%, during the nine
months of fiscal 2003 from the nine months of fiscal 2002.  The net decrease
in sales relates primarily to a decrease in subscription and advertising
revenue as partially offset by an increase in newsstand revenue and revenue
from editorial services from third parties.  Subscription revenue decreased
by $179,000, or 12%, to $1,266,000 in the first nine months of fiscal 2003
from the prior comparable period.  The decline in subscription revenue is
attributable to lower remittances from subscription agencies.  Girl's Life
uses subscription agencies to expand its subscription base.  Revenue from
subscriptions sold through subscription agencies is less than the revenue
received from subscriptions sold directly to the customer. Advertising revenue
decreased by $353,000, or 36%, to $619,000 in the first nine months of fiscal
2003 from the prior comparable period.  Management believes that advertising
revenue is still adversely affected by an industry-wide decline in the demand
for advertising due to the current economic slowdown in the United States.
Newsstand revenue increased by $27,000, or 14%, to $224,000 in the first nine
months of fiscal 2003 from the prior comparable period. Revenue from editorial
services to third parties increased by $187,000 in the first nine months of
fiscal 2003 from the prior comparable period.

Sales of the retail operations, Adam Leaf and Bean tobacco and coffee shop,
were $473,000 for the first nine months of fiscal 2003 compared to sales of
$41,000 for the nine months of fiscal 2002. The increase in sales relates
to Adam Leaf and Bean beginning operations in November 2001, the third
quarter only of fiscal 2002.

We believe that Adam Leaf and Bean is still in its start-up stage.  We have
noted that sales have increased each quarter since opening; however; since
third quarter sales includes sales for the holiday season, this trend may
not continue in future periods.

Combined sales for publishing and the one retail operation increased $151,000
in the first nine months of fiscal 2003 from the prior comparable period.

Total cost of goods sold, as a percent of total sales was 101% in the first
nine months of fiscal 2003 compared to 77% in the first nine months of fiscal
2002. Cost of goods sold for publishing, as a percent of sales was 98% in
the first nine months of fiscal 2003 compared to 76% in the first nine months
of fiscal 2002.  The percentage increase in the cost of goods sold for
publishing was primarily attributable to increased costs in connection with
our book publishing efforts, costs of direct mail promotion and printing
costs associated with third party editorial services.

Cost of goods sold for the retail sales, as a percent of sales was 114% in
the first nine months of fiscal 2003 compared to 173% in the first nine months
of fiscal 2002.  There were no retail sales or costs in the first six months
of fiscal 2002. Adam Leaf and Bean is still considered to be in its start-up
stage.

Cost of goods sold includes certain direct overhead costs that are fixed and
do not fluctuate as a result of the sales volume.  Certain other costs are not
fixed and do fluctuate with the sales volume.  As sales increase, we expect
the fixed costs to decrease as a percentage of sales.

Selling, general and administrative expenses as a percentage of sales were
40% for the first nine months of fiscal 2003 compared to 42% in the prior
comparable period.  Actual selling, general and administrative expenses
increased $29,000 for the nine months of fiscal 2003 as compared to the
nine months of fiscal 2002.  The increase in actual expenses for the first
nine months of fiscal 2003 was primarily due to the additional selling,
general and administrative costs associated with  Adam Leaf and Bean. Also
additional direct and indirect costs in the amount of $175,000 associated
with Peerce's Plantation GL have been classified as selling, general and
administrative expenses for the first nine months of fiscal 2003. Promotional
expenses for Girls' Life magazine increased $109,000, or 55%, for the first
nine months of fiscal 2003 compared to the prior comparable period.  Although
these expenses are recognized in the current period, they are expected to
benefit future periods. We expect to continue our strategy of promoting Girls'
Life Magazine, Peerce's Plantation and Adam Leaf and Bean in future periods.

Revenues and costs associated with "Adam" magazine and "Girls' Life Living"
food court have been reclassified as discontinued operations for the nine
months of fiscal 2003 and fiscal 2002.

Other income decreased $162,000 in the first nine months of fiscal 2003
compared to the first nine months of fiscal 2002.  The decrease was primarily
due to the decrease in interest income due to a lower interest rate environment
and decreased cash balances.

One of the two properties classified as held for sale was sold during the
third quarter.  Gross proceeds from the sale were $81,000 resulting in a
loss of $7,000.


LIQUIDITY AND CAPITAL RESOURCES

At January 31, 2003, the Company has cash and cash equivalents of
approximately $448,000 an increase of $569,000 from the amount at
April 30, 2002. The increase resulted primarily from the reduction
of certificates of deposit. The Company's cash and cash equivalents
are subject to variation based upon the timing of receipts and the
payment of payables.

At January 31, 2003, the Company has $2,755,000 in a certificate of deposit
with a maturity date of November 2006.

At January 31, 2003, the Company estimated that the additional cost
needs to complete the renovation of Peerce's Plantation GL and commence
operations will be in the range of $200,000 to $300,000.

At January 31, 2002, the Company has no debt with third party lenders.


ITEM 3.                CONTROLS AND PROCEDURES

Based on an evaluation of the Company's disclosure controls and procedures as
of a date within 90 days prior to the filing date of this quarterly report,
each of the chief executive officer and the chief financial officer of the
Company has concluded that the Company's disclosure controls and procedures
are effective.

There were no significant changes in the Company's internal controls or in any
other factors which could significantly affect those controls subsequent to the
date of the most recent evaluation of the Company's internal controls,
including any corrective actions with regard to any significant deficiencies
or material weaknesses.



PART II.     OTHER INFORMATION

ITEMS 1 THROUGH 5
NONE / NOT APPLICABLE

ITEM 6.  EXHIBITS AND REPORTS FOR FORM 8-K

(a)          Exhibits

             Number        Description
             ------        -----------

             99.1          CEO Certification of SEC compliance
             99.2          CFO Certification of SEC compliance


(b)          Reports on Form 8-K

             No reports have been filed on Form 8-K during this
             quarter.



In accordance with the requirements of Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                   Monarch Services, Inc.


Date   March 17, 2003              BY:  /s/ Jackson Y. Dott
       --------------              -------------------------------
                                   Jackson Y. Dott
                                   Chief Executive Officer



Date   March 17, 2003              /s/    Marshall Chadwell
       --------------              -------------------------------
                                   Marshall Chadwell, Controller
                                   Chief Financial Officer
                                   (Principal Accounting and
                                        Financial Officer)


CERTIFICATIONS

I, Jackson Y. Dott, certify that:


1.  I have reviewed this quarterly report on Form 10-QSB of Monarch Services,
    Inc.;


2.  Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;


3.  Based on my knowledge, this quarterly report does not contain any untrue
information included in this quarterly report, fairly presents in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;


4.  The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:


a)  designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;


b)  evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarter report (the "Evaluation Date"); and


c)  presented in this quarterly report our conclusions about the effectiveness
of the disclosure controls and procedures based on our evaluation as of the
evaluation Date;


5.  The registrant's other certifying officer and I have disclosed, based
on our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent functions):


a)  all significant deficiencies in the design of operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and


b)  any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls.


6.  The registrant's other certifying officer and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


/s/    JACKSON Y. DOTT

Jackson Y. Dott
Chief Executive Officer
Date:  March 17, 2003





CERTIFICATIONS

I, Marshall Chadwell, certify that:


1.  I have reviewed this quarterly report on Form 10-QSB of Monarch Services,
    Inc.;


2.  Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;


3.  Based on my knowledge, this quarterly report does not contain any untrue
information included in this quarterly report, fairly presents in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;


4.  The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:


a)  designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;


b)  evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarter report (the "Evaluation Date"); and


c)  presented in this quarterly report our conclusions about the effectiveness
of the disclosure controls and procedures based on our evaluation as of the
evaluation Date;


5.  The registrant's other certifying officer and I have disclosed, based
on our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent functions):


a)  all significant deficiencies in the design of operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and


b)  any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls.


6.  The registrant's other certifying officer and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


/s/    MARSHALL CHADWELL

Marshall Chadwell
Chief Financial Officer
Date:  March 17, 2003