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, 2004  COMMISSION FILE NO. 000-08512
                   ----------------                      ---------

                         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, 2004, 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, 2004
                                                  ------------------
                                                     (000's Omitted)
<S>                                                  <C>
ASSETS

CURRENT ASSETS

  Cash and cash equivalents                          $  386
  Certificates of deposit                             1,961
  Accounts receivable, net                              395
  Marketable securities available
      for sale                                           44
  Inventory                                             174
  Prepaid publishing expenses                           193
  Other prepaid expenses                                 50
  Income taxes receivable                                16

                                                      -----
           TOTAL CURRENT ASSETS                       3,219

PROPERTY AND EQUIPMENT
   Machinery, equipment, furniture and fixtures         831
   Leasehold improvements                             1,366
   Restaurant buildings                               1,455
                                                      -----
                                                      3,652
   Less accumulated depreciation                       (649)
                                                      -----
                                                      3,003
   Land                                                 321
                                                      -----
           TOTAL PROPERTY AND EQUIPMENT - NET         3,324
                                                      -----
   Trademarks - net                                       9
   Liquor license                                       200
                                                      -----
             TOTAL ASSETS                            $6,752
                                                      -----
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
   Accounts payable                                  $  527
   Accrued expenses                                     167
   Deferred subscription revenues                     1,674
                                                     ------
           TOTAL CURRENT LIABILITIES                  2,368
                                                     ------
DEFERRED INCOME TAXES                                     0
                                                     ------
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                                    599
   Accumulated other comprehensive income                 2
                                                     ------
             TOTAL STOCKHOLDERS' EQUITY               4,384
                                                      -----
   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY        $6,752
                                                      -----
<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,
                                        ------------------     -----------------

                                         2004       2003       2004       2003
                                         ----       ----       ----       ----

                                          (000's omitted, except per share data)

<S>                                    <C>       <C>          <C>       <C>
Net Sales - publishing                 $  761    $   677      $ 2,780   $ 2,557
Net Sales - retail                        145        167          452       473
Net Sales - restaurant                    516          0          695         0
                                       -------------------    ------------------
                                        1,422        844        3,927     3,030

Cost of goods sold - publishing           606        748        2,264     2,515
Cost of goods sold - retail               126        169          439       537
Cost of goods sold - restaurant           516          0          775         0
                                       -------------------    ------------------
                                        1,248        917        3,478     3,052
                                       -------------------    ------------------
Gross profit (loss) from continuing
   operations                             174        (73)         449       (22)
                                       -------------------    ------------------
Selling, general and
   administrative expenses                369        381        1,172     1,224
                                       -------------------    ------------------
Loss before other income
   and income taxes                      (195)      (454)        (723)   (1,246)

Other income:
   Investment and interest income          23         30           72       109
   Other                                    0          0            1         5
                                       -------------------    ------------------
                                           23         30           73       114
                                       -------------------    ------------------
Loss from continuing operations
   before income tax                     (172)      (424)        (650)   (1,132)

Income tax expense (benefit)                0          0            0      (240)
                                       -------------------    ------------------
Net loss from
   continuing operations                 (172)      (424)        (650)     (892)
                                       -------------------    ------------------
Discontinued Operations:
   Operating loss from "Adam"
   magazine (net of income tax
   benefit of $12 for the nine
   months ended January 31, 2003            0          0            0       (22)

   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            0        11

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

                                      --------------------     -----------------
Loss from discontinued operations           0         (7)           0       (18)
                                      --------------------     -----------------
Net loss                              $  (172)    $ (431)       $(650)  $  (910)

Net loss per common share
   basic and diluted:

Loss from continuing operations
   per share                          $ (0.11)     (0.27)       (0.40)    (0.55)

Loss from discontinued operations        0.00       0.00         0.00     (0.01)
                                      -------------------     ------------------
Net loss per common share -
   basic and diluted                  $ (0.11)     (0.27)       (0.40)    (0.56)
                                      -------------------     ------------------
Weighted average number of
     shares outstanding - basic       1,619,620 1,619,620    1,619,620 1,619,620
                                      --------------------   -------------------
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,
                                                     -----------------
                                                     2004         2003
                                                     ----         ----
                                      (000's Omitted, except per share date)

<S>                                              <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                         $   (650)     $  (910)
  Adjustments to reconcile net loss                ------       ------
  to net cash used by operating
  activities:
     Depreciation and amortization                     80           46
     Deferred income taxes                              0         (127)
     Increase/decrease in operating
       assets and liabilities:
          Accounts receivable, income
          taxes receivable, inventory,
          prepaid expenses, accounts
          payable, accrued expenses
          and deferred subscription
          revenue                                     351           56
                                                   ------       ------
Total cash used by operating activities              (219)        (935)
                                                   ------       ------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of property and equipment,
     intangible assets and improvements              (550)        (491)
  Proceeds from sales of assets                         2           81
  Maturity/redemption of certificates
     of deposit                                       629        1,914
                                                   ------       ------
    Total cash provided by
      investing activities                             81        1,504
                                                   ------       ------
NET INCREASE (DECREASE)IN CASH AND CASH
    EQUIVALENTS                                      (138)         569

CASH AND CASH EQUIVALENTS (OVERDRAFT)
  BEGINNING OF PERIOD                                 524         (121)
                                                   ------       ------
CASH AND CASH EQUIVALENTS
  END OF PERIOD                                   $   386      $   448
                                                   ======       ======
<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., Adam Leaf and Bean, Inc., Peerce's
Plantation, LLC and the discontinued operations of "Adam" magazine
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 current
classifications. 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, 2004 and the nine months ending January 31, 2004 are
not necessarily indicative of the results that may be expected for
the fiscal year ending April 30, 2004.  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, 2003.

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 per issue for four issues during
the first nine months of fiscal 2004 is set forth in the following table.


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

         Newsstand Sales                         60,000

         Subscription Sales                     305,000
                                               ---------
            Total Paid Circulation              365,000


         Complimentary Copies                     1,000




The following table sets forth the average number of magazines sold
per issue in the domestic and international markets for four issues
during the nine months of fiscal 2004.

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

         United States                          301,000

         International                            4,000



NOTE B - ACCOUNTS RECEIVABLE


Accounts receivable consist of the following at January 31, 2004
(in thousands).

Accounts receivable - publishing           $ 445
Accounts receivable - retail                   0
                                           ------
   Total accounts receivable                 445

Less:
  Allowance for doubtful accounts            (50)
                                           ------
                                           $ 395
                                           ------


NOTE C - INVENTORIES

The Company values inventories at the lower of average cost (first-in,
first-out) or market.  Inventory at January 31, 2004 is primarily related
to the Adam Leaf and Bean and Peerce's Plantation operations.


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 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 recoreded 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,

                                               2004            2003
                                            --------------------------

       Net sales                            $     0         $     8

       Loss from discontinued operations
         (net of tax)                             0             (22)





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,

                                               2004             2003
                                            --------------------------

       Net sales                            $     0         $      8

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


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.




NOTE F - STOCK-BASED COMPENSATION ARRANGEMENTS

The company applies APB Opinion No. 25 and related interpretations in
accounting for stock-based compensation arrangements.  Accordingly, no
compensation expense has been recognized.  For disclosure purposes,
pro-forma results have been determined based on the fair value method
consistent with SFAS No. 123, "Accounting for Stock-Based Compensation"
and SFAS No. 148 "Accounting for Stock-Based Compensation - Transition
and Disclosure".  No stock-based employee compensation cost is reflected
in the consolidated statements of operations, as all options granted
under those plans had an exercise price at least equal to the market
value of the underlying common stock on the date of grant.  The following
table illustrates the effect on net loss and net loss per share if the
Company had applied the fair value recognition provisions of SFAS
No. 123 "Accounting for Stock-Based Compensation", to stock-based
employee compensation for the three months and nine months ended
January 31, 2004 and 2003.


                                             Three months Ended January 31,

                                                       2004      2003

---------------------------------------------------------------------------
(In thousands, except per share data)


Net loss, as reported                              $   (172)  $   (431)
Less pro forma stock-based employee compensation
  expense determined under fair value based
  method, net of related tax effects                     (1)       (27)
                                                   --------------------
Pro forma net loss                                 $   (173)   $  (458)

Net loss per share:

  Basic - as reported                              $  (0.11)   $ (0.27)
  Basic - pro forma                                $  (0.11)   $ (0.28)
  Diluted - as reported                            $  (0.11)   $ (0.27)
  Diluted - pro forma                              $  (0.11)   $ (0.28)



                                              Nine months Ended January 31,

                                                        2004       2003
--------------------------------------------------------------------------
            (In thousands, except per share data)

Net loss, as reported                              $   (650)   $  (910)
Less pro forma stock-based employee compensation
  expense determined under fair value based
  method, net of related tax effects                     (4)       (80)
                                                  --------------------
Pro forma net loss                                 $   (654)   $  (990)

Net loss per share:
  Basic - as reported                              $  (0.40)   $ (0.56)
  Basic - pro forma                                $  (0.40)   $ (0.61)
  Diluted - as reported                            $  (0.40)   $ (0.56)
  Diluted - pro forma                              $  (0.40)   $ (0.61)



NOTE G - SEGMENT INFORMATION



The Company currently operates in three industry segments. The Company's
primary operations during the quarters ending October 31, 2003 and 2002
respectively, was the publication of "Girls' Life" magazine in the
publishing segment and "Adam Leaf and Bean" tobacco shop in the retail
segment.  The Company's primary operations during the quarter and nine
months ending January 31, 2004 included Peerce's Plantation.


          Segment Information for the Quarter Ending January 31, 2004
          -----------------------------------------------------------
                                 (in thousands)

                                 Publishing Retail Restaurant Other    Total

Revenues from external customers  $    761   $ 145   $ 516   $    - $   1,422
Intersegment revenues                    -       -       -        -         -
Interest Income                          -       -       -       23        23
Depreciation and amortization            3       3      27       10        43
Segment profit (loss) before tax        49       7     (60)    (168)     (172)
Expenditures for segment assets          1       -      47        3        51



          Segment Information for the Quarter Ending January 31, 2003
          -----------------------------------------------------------
                                (in thousands)

                                 Publishing Retail Restaurant Other    Total


Revenues from external customers  $    677   $ 167  $    -    $   -  $   844
Intersegment revenues                    -       -       -        -        -
Interest Income                          -       -       -       30       30
Depreciation and amortization            3       3       -        7       13
Segment profit (loss) before tax      (221)    (14)      -     (189)    (424)
Expenditures for segment assets          1       -     136       11      148



          Segment Information for the Nine Months Ending January 31, 2004
          ---------------------------------------------------------------
                                            (in thousands)

                                 Publishing Retail Restaurant Other    Total

Revenues from external customers  $  2,780   $ 452   $ 695    $   -  $ 3,927
Intersegment revenues                    -       -       -        -        -
Interest Income                          -       -       -       71       71
Depreciation and amortization            9      10      34       26       79
Segment profit (loss) before tax       109     (22)   (267)    (470)    (650)
Expenditures for segment assets          2       -     542        6      550





          Segment Information for the Nine Months Ending January 31, 2003
          ---------------------------------------------------------------
                                              (in thousands)

                                 Publishing Retail Restaurant Other    Total


Revenues from external customers  $  2,557   $ 473  $    -    $   -  $ 3,030
Intersegment revenues                    -       -       -        -        -
Interest Income                          -       -       -      109      109
Depreciation and amortization           15      10       -       21       46
Segment profit (loss) before tax      (446)    (93)      -     (593)  (1,132)
Expenditures for segment assets          1       5     474       11      491



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 2004 are to the fiscal
year ending April 30, 2004, and references to fiscal 2003 are to the fiscal
year ending April 30, 2003.






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, 2003 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, 2003 and
in other reports we have filed. 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.

Additional risks include the following related to our new line of
business, Peerce's Plantation restaurant:

Competition.

The fine dining sector of the restaurant industry Maryland is intensely
competitive in pricing, service, location, personnel, and type and quality
of food.  We compete with national, regional and local organizations
primarily through the quality, variety and value perception of menu items.
The location of restaurants, quality and efficiency of service, attractiveness
of facilities and effectiveness of advertising and marketing programs are also
important factors. We anticipate that intense competition will continue in all
of these areas.  As a recently reopened restaurant, this issues may be even
more challenging for us than for our more established competition.

Economic, Market and Other Conditions.

Certain risks are endemic to the restaurant industry.  A protracted economic
slowdown or worsening economy, industry-wide cost pressures, or weak consumer
demand could lead to sales declines and suppress sales growth and profits. The
fine dining sector of the restaurant industry is affected by changes in
national, regional and local economic conditions; the seasonality of our
business; consumer preferences, including changes in consumer tastes
and the level of consumer acceptance of our restaurant concept; consumer
spending patterns; demographic trends; weather; traffic patterns; and the
type, number and location of competing restaurants.

Price and Availability of Food, Labor, Utilities, Insurance and Media; Other
Costs.

Our profitability depends significantly on our ability to anticipate and
react to changes in the price and availability of food; labor; utilities;
insurance (including workers' compensation, general liability, health,
and directors and officer's liability insurance); advertising, media and
marketing; employee benefits; and other costs over which we may have little
control. The price and availability of commodities, including, among other
things, shrimp, lobster and other seafood and various meats, are subject to
fluctuation and could increase or decrease more than we expect. We are subject
to the general risk of inflation, and possible shortages or interruptions in
supply caused by inclement weather or other conditions that could adversely
affect the availability and cost of the items we buy.  Labor shortages,
increased employee turnover and higher minimum wage rates all could raise
our cost of doing business. Our business also is subject to the risk of
litigation by employees, consumers and suppliers or others that may result
in additional costs. There can be no assurance that management will be able
to anticipate and react to these cost issues without a material adverse
effect on our profitability and results of operations.

Government Regulation.

We are subject to various federal, state and local laws affecting our
business.  Our restaurant is subject to zoning, land use, environmental,
traffic and other regulations.  We are also subject to licensing and
regulation by state and local departments relating to health, liquor
licenses, sanitation and safety standards, federal and state labor laws
(including applicable minimum wage requirements, overtime, working and
safety  conditions, and citizenship requirements), federal and state laws
which prohibit discrimination and other laws regulating the design and
operation of  facilities, such as the Americans With Disabilities Act of
1990. We cannot predict the effect on our operations of these laws and
regulations or the future enactment of additional legislation regulating
these and other areas.

APPLICATION OF CRITICAL ACCOUNTING POLICIES

These consolidated financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America.
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.  We currently recognize income on
magazine subscriptions over the expected life of the subscriptions.
Costs incurred to attract new subscribers are expensed as incurred.


RESULTS OF OPERATIONS

We have three operating subsidiaries. Girls' Life, Inc., publishes a
magazine, Adam Leaf and Bean, Inc. sells tobacco and related products
on a retail basis and Peerce's Plantation operates a restaurant and bar
open to the general public.  Peerce's Plantation began doing business
in the second quarter ending October 31, 2003.

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 is one
issue of Girls' Life magazine in the third quarter of fiscal years 2004
and 2003. There are four issues of Girls' Life magazine in the nine months
of fiscal years 2004 and 2003.

We believe that the revenues of Peerce's Plantation Restaurant will be
seasonal in nature.  Because the restaurant has not been open for a full
year, we have not directly experienced seasonality.  However, the
experience of our management team suggests that fine dining restaurants
are particularly popular during the November/December holiday season
and are less popular during the Winter months of January through March.
Also, we expect our catering department, a substantial portion of whose
business consists of weddings and holiday parties, also will be seasonal
with above average business in the November/December holiday season and
during the Spring and Summber wedding season but below average business
in the Winter months of January through March.  Because we have no direct
experience of seasonality with respect to Peerce's Plantation restaurant,
we can provide no assurance that the business is seasonal or that if it
is seasonal, its seasonality will follow the trends described above.


RESULTS FOR THE THIRD QUARTER OF FISCAL YEAR 2004 AND 2003

Publishing sales of Girls' Life increased $84,000, or 12%, to $761,000 in
the third quarter of fiscal 2004 from the third quarter of fiscal 2003.
The net increase in sales relates primarily to an increase in subscription,
advertising, newsstand and miscellaneous revenues offset by a decrease in
revenue from editorial services from third parties. Subscription revenue
increased by $14,000, or 4%, to $323,000 in the third quarter of fiscal 2004
from the prior comparable period.  Girls' 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 increased by $89,000, or
98%, to $180,000 in the third quarter of fiscal 2004 from the prior comparable
period.  The increase in advertising revenue is attributed to the improving
economy in the United States and a general increase in advertising activity.
Newsstand revenue increased by $31,000, or 35%, to $118,000 in the third
quarter of fiscal 2004 from the prior comparable period.  The increase in
newsstand revenue is attributed to the increased number of Girls' Life
magazines available on newsstands due to the addition of additional major
regional and national chain retailers and also due to higher sales
efficiencies. Revenue from editorial services to third parties decreased
by $63,000 in the third quarter of fiscal 2004 from the prior comparable
period.  The decrease in revenue from editorial services relates primarily
to less editorial services purchased by third parties in the third quarter
of fiscal 2004 compared to the third quarter of fiscal 2003. Additional
one time services were requested by third party customers in the three
months of fiscal 2003.

Sales of the retail operations, Adam Leaf and Bean tobacco shop, decreased
$22,000, or 13%, to $145,000 in the third quarter of fiscal 2004 from the
third quarter of fiscal 2003.  The net decrease in sales relates primarily
to the closing of the coffee and snack bar business. Management determined
that the sales volume did not justify the cost of labor needed to staff
that part of the business.

Sales for the restaurant, Peerce's Plantation, were $516,000 in the third
quarter of fiscal 2004.  There were no sales in the third quarter of fiscal
2003.  Peerce's Plantation opened for business on September 26, 2003.

Combined sales of the three operating subsidiaries was $1,422,000 in the
third quarter of fiscal 2004 compared to combined sales of $844,000 for
the third quarter of fiscal 2003.

Total cost of goods sold, as a percent of total sales was 88% in the third
quarter of fiscal 2004 compared to 109% in the third quarter of fiscal
2003.

Cost of goods sold for publishing, as a percent of sales was 80% in the
third quarter of fiscal 2004 compared to 110% in the third quarter of fiscal
2003.  The percentage decrease in the cost of goods sold for publishing was
primarily attributable to decreased costs in labor and fees paid to outside
contractors.

Cost of goods sold for retail sales, as a percent of sales was 87% in
the third quarter of fiscal 2004 compared to 101% in the third quarter of
fiscal 2003. The percentage decrease in cost of goods sold for Adam, Leaf
and Bean was primarily attributable to decreased labor costs and decreased
costs associated with the closing of the coffee shop in the first quarter
of fiscal 2004.

Cost of goods sold for Peerce's Plantation, as a percent of sales was 100%
in the third quarter of fiscal 2004.  The high percentage was primarily due
to the opening of the restaurant late in the second quarter of fiscal 2004.
Cost of goods sold include labor, training and other expenses incurred during
the quarter prior to the restaurant's opening. Peerce's Plantation opened
for business on September 26, 2003.

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

Selling, general and administrative expenses as a percentage of sales were
26% for the third quarter of fiscal 2004 compared to 45% in the prior
comparable period.  The decrease in the percentage was primarily the net
result of decreased costs in promotional and salary expenses for Girl's Life
and corporate overhead offset by increased costs associated with Peerce's
Plantation. Other than those costs capitalized, all pre-opening costs
incurred by Peerce's Plantation in the third quarter of fiscal 2003, which
included salaries, wages, utilities and other costs normally classified as
Cost of Goods Sold, were classified as selling, general and administrative
expenses. Promotional expenses for Girls' Life magazine decreased $45,000, or
43%, for the third quarter of fiscal 2004 compared to the prior comparable
period.

There were no revenues and costs associated with Adam magazine and Girl's Life
Living food court for the third quarter of fiscal 2004.

Other income decreased $7,000 in the third quarter of fiscal 2004 compared
to the third quarter of fiscal 2003.  The decrease was primarily due to the
decrease in interest income due to a lower interest rate environment and
decreased cash balances.


RESULTS FOR THE FIRST NINE MONTHS OF FISCAL YEAR 2004 AND 2003

Publishing sales of Girls' Life increased $223,000, or 9%, to $2,780,000

in the nine months of fiscal 2004 from the nine months of fiscal 2003.
The net increase in sales relates primarily to an increase in subscription,
advertising, newsstand and miscellaneous revenues offset by a decrease in
revenue from editorial services from third parties. Subscription revenue
increased by $21,000, or 2%, to $1,283,000 in the nine months of fiscal 2004
from the prior comparable period. Girls' 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 increased by $19,000,
or 3%, to $638,000 in the nine months of fiscal 2004 from the prior comparable
period. Newsstand revenue increased by $229,000, or 102%, to $453,000 in the
nine months of fiscal 2004 from the prior comparable period.  The increase
in newsstand revenue is attributed to the increased number of Girls' Life
magazines being available on newsstands due to the addition of major regional
and national chain retailers and also due to higher sales efficiencies.
Revenue from editorial services to third parties decreased by $66,000 in
the nine months of fiscal 2004 from the prior comparable period. The
decrease in revenue from editorial services relates primarily to less
editorial services purchased by third parties in the nine months of fiscal
2004 compared to the nine months of fiscal 2003. Additional one time
services were requested by third party customers in the nine months
of fiscal 2003.

Sales of the retail operations, Adam Leaf and Bean tobacco shop, decreased
$21,000, or 4%, to $452,000 in the nine months of fiscal 2004 from the
nine months of fiscal 2003.  The net decrease in sales relates primarily
to the closing of the coffee and snack bar business. Management determined
that the sales volume did not justify the cost of labor needed to staff
that part of the business.

Sales for the restaurant, Peerce's Plantation, were $695,000 in the nine
months of fiscal 2004.  There were no sales in the nine months of fiscal
2003.

Combined sales of the three operating subsidiaries was $3,927,000 in the
nine months of fiscal 2004 compared to combined sales of $3,030,000 for
the nine months of fiscal 2003.


Total cost of goods sold, as a percent of total sales was 89% in the nine
months of fiscal 2004 compared to 101% in the nine months of fiscal 2003.

Cost of goods sold for publishing, as a percent of sales was 81% in the
nine months of fiscal 2004 compared to 98% in the nine months of fiscal
2003.  The percentage decrease in the cost of goods sold for publishing was
primarily attributable to decreased costs in labor and fees paid to outside
contractors.

Cost of goods sold for retail sales, as a percent of sales was 97% in
the nine months of fiscal 2004 compared to 114% in the nine months of
fiscal 2003. The percentage decrease in cost of goods sold for Adam, Leaf
and Bean was primarily attributable to decreased labor and decreased labor,
inventory  and other costs associated with the closing of the coffee shop
in the first quarter of fiscal 2004.

Cost of goods sold for Peerce's Plantation, as a percent of sales was 112%
in the nine months of fiscal 2004.  The high percentage was primarily due
to the opening of the restaurant late in the second quarter of fiscal 2004.
Cost of goods sold include labor for a full staff, training and other
expenses associated with the opening of the restaurant.  All pre-opening
costs incurred during the quarter ended October 31, 2003 were included
as expense for the nine months of fiscal 2004.  All pre-opening costs
incurred during the quarter ended July 31, 2003 were classified as selling,
general and administrative expense. Peerce's Plantation opened for business
on September 26, 2003.

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

Selling, general and administrative expenses as a percentage of sales were
30% for the nine months of fiscal 2004 compared to 40% in the prior
comparable period.  The decrease in the percentage was primarily the net
result of decreased costs in promotional and salary expenses for Girl's Life
and corporate overhead offset by increased costs associated with Peerce's
Plantation. Other than those costs capitalized, all costs incurred by Peerce's
Plantation in the first quarter of fiscal 2003, were classified as selling,
general and administrative expenses. Promotional expenses for Girls' Life
magazine decreased $69,000, or 21%, for the nine months of fiscal 2004
compared to the prior comparable period.

There were no revenues and costs associated with Adam magazine and Girl's Life
Living food court for the third quarter of fiscal 2004.

Other income decreased $42,000 in the nine months of fiscal 2004 compared
to the nine months of fiscal 2003.  The decrease was primarily due to the
decrease in interest income due to a lower interest rate environment and
decreased cash balances.



LIQUIDITY AND CAPITAL RESOURCES

At January 31, 2004, the Company has cash and cash equivalents of
approximately $386,000, a decrease of $138,000 from the amount at
April 30, 2003. The decrease resulted primarily from the purchase of
equipment and improvements offset by 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, 2004, the Company has $1,961,000 in certificates of
deposit with a stated maturity date of November 26, 2006. To date,
the Company has had immediate access to these funds without incurring
a penalty or a reduction in the interest rate.

At January 31, 2004, 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 the 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 3 AND 5
NONE / NOT APPLICABLE

ITEM 6.  EXHIBITS AND REPORTS FOR FORM 8-K

(a)          Exhibits

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

             31.1         CEO Certification under Rule 13a-14(a)/15d-14(a)
             31.2         CFO Certification under Rule 13a-14(a)/15d-14(a)
             32.1         CEO Certification of SEC compliance
             32.2         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 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 16, 2004              By:  /s/  Jackson Y. Dott
       --------------              -------------------------------
                                   Chief Executive Officer



Date   March 16, 2004              /s/    Marshall Chadwell
       --------------              -------------------------------
                                   Marshall Chadwell, Controller
                                   Chief Financial Officer
                                   (Principal Accounting and
                                        Financial Officer)