----

----

----

----

----

| Large accelerated filer o | Accelerated filer o         |
|---------------------------|-----------------------------|
|                      |                        |
| Non-accelerated filer o   | Smaller reporting company x |

|                         |   | Outstanding as of March 31, |   |
|------------------------------|--------|-----------------------------|--------|
| Class                        |   | 2011                        |   | 2010 |   |
| Common Stock $0.30 Par Value |   | 519,600 Shares              |   | 519,350 Shares |   |

----

|       |                                                                                        |   | PAGE              |
|------------|---------------------------------------------------------------------------------------------|--------|-------------------|
| PART I.    | FINANCIAL INFORMATION                                                                       |   |              |
|       |                                                                                        |   |              |
|       | ITEM 1.                                                                                     |   |              |
|       |                                                                                        |   |              |
|       | CONSOLIDATED BALANCE SHEETS:                                                                |   |              |
|       |                                                                                        |   |              |
|       | Assets                                                                                      |   |              |
|       |                                                                                        |   |              |
|       | As of March 31, 2011 (Unaudited), December 31, 2010 and March 31, 2010 (Unaudited)          |   | 2                 |
|       |                                                                                        |   |              |
|       | Liabilities and Stockholders’ Equity                                                  |   |              |
|       |                                                                                        |   |              |
|       | As of March 31, 2011 (Unaudited), December 31, 2010 and March 31, 2010 (Unaudited)          |   | 3                 |
|       |                                                                                        |   |              |
|       | CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED):                                              |   |              |
|       |                                                                                        |   |              |
|       | For the three-month periods ended March 31, 2011 and 2010                                   |   | 4                 |
|       |                                                                                        |   |              |
|       | CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED):                                          |   |              |
|       |                                                                                        |   |              |
|       | For the three-month periods ended March 31, 2011 and 2010                                   |   | 5                 |
|       |                                                                                        |   |              |
|       | NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)                                  |   | 6 – 7       |
|       |                                                                                        |   |              |
|       | ITEM 2.                                                                                     |   |              |
|       |                                                                                        |   |              |
|       | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |   | 8 – 10 |
|       |                                                                                        |   |              |
|       | ITEM 3.                                                                                     |   |              |
|       |                                                                                        |   |              |
|       | QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK – N/A                       |   | 10                |
|       |                                                                                        |   |              |
|       | ITEM 4.                                                                                     |   |              |
|       |                                                                                        |   |              |
|       | CONTROLS AND PROCEDURES                                                                     |   | 10                |
|       |                                                                                        |   |              |
| PART II.   | OTHER INFORMATION                                                                           |   |              |
|       |                                                                                        |   |              |
|       | ITEMS 1 – 6.                                                                          |   | 11                |
|       |                                                                                        |   |              |
| SIGNATURES |                                                                                        | 12     |

----

| PARADISE, INC. | COMMISSION FILE NO. 0-3026 |
|----------------|----------------------------|

|                                                                                                                                      |   | AS OF       |       |   |         |   |       | AS OF       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|------------|-------------|--------|
|                                                                                                                                      |   | MARCH 31,   |       |   | AS OF        |   |       | MARCH 31,   |   |
|                                                                                                                                      |   | 2011        |       |   | DECEMBER 31, |   |       | 2010        |   |
|                                                                                                                                      |   | (UNAUDITED) |       |   | 2010         |   |       | (UNAUDITED) |   |
| ASSETS                                                                                                                                    |   |        |       |   |         |   |       |        |   |
|                                                                                                                                      |   |        |       |   |         |   |       |        |   |
| CURRENT ASSETS:                                                                                                                           |   |        |       |   |         |   |       |        |   |
|                                                                                                                                      |   |        |       |   |         |   |       |        |   |
| Cash and Unrestricted Demand Deposits                                                                                                     |   | $           | 4,464,427  |   |         | $      | 4,772,056  |        |   | $ | 2,144,512 |   |
| Accounts Receivable, Less, Allowances of $0 (03/31/11), $1,052,862 (12/31/10) and $0 (03/31/10)                                           |   |        | 2,043,199  |   |         |   | 3,619,735  |        |   |   | 1,426,025 |   |
| Inventories:                                                                                                                              |   |        |       |   |         |   |       |        |   |   |   |   |
| Raw Materials                                                                                                                             |   |        | 3,806,968  |   |         |   | 1,961,627  |        |   |   | 3,720,031 |   |
| Work in Process                                                                                                                           |   |        | 22,189     |   |         |   | 864,689    |        |   |   | 16,196 |   |
| Finished Goods                                                                                                                            |   |        | 4,445,682  |   |         |   | 3,220,268  |        |   |   | 5,558,023 |   |
| Deferred Income Tax Asset                                                                                                                 |   |        | 294,721    |   |         |   | 225,942    |        |   |   | 405,020 |   |
| Income Tax Refund Receivable                                                                                                              |   |        | -          |   |         |   | -          |        |   |   | 52,867 |   |
| Prepaid Expenses and Other Current Assets                                                                                                 |   |        | 157,709    |   |         |   | 348,407    |        |   |   | 226,661 |   |
|                                                                                                                                      |   |        |       |   |         |   |       |        |   |   |   |   |
| Total Current Assets                                                                                                                      |   |        | 15,234,895 |   |         |   | 15,012,724 |        |   |   | 13,549,335 |   |
|                                                                                                                                      |   |        |       |   |         |   |       |        |   |   |   |   |
| Property, Plant and Equipment, Less, Accumulated Depreciation of $18,130,547 (03/31/11), $17,998,537 (12/31/10)and $17,581,863 (03/31/10) |   |        | 4,280,263  |   |         |   | 4,338,717  |        |   |   | 4,638,316 |   |
| Goodwill                                                                                                                                  |   |        | 413,280    |   |         |   | 413,280    |        |   |   | 413,280 |   |
| Customer Base and Non-Compete Agreement                                                                                                   |   |        | 660,046    |   |         |   | 691,517    |        |   |   | 785,931 |   |
| Other Assets                                                                                                                              |   |        | 183,261    |   |         |   | 183,609    |        |   |   | 181,309 |   |
|                                                                                                                                      |   |        |       |   |         |   |       |        |   |   |   |   |
| TOTAL ASSETS                                                                                                                              |   | $           | 20,771,745 |   |         | $      | 20,639,847 |        |   | $ | 19,568,171 |   |

----

|                                                                                                                                                         |   | AS OF       |       |   |         |   |       | AS OF       |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|------------|-------------|--------|
|                                                                                                                                                         |   | MARCH 31,   |       |   | AS OF        |   |       | MARCH 31,   |   |
|                                                                                                                                                         |   | 2011        |       |   | DECEMBER 31, |   |       | 2010        |   |
|                                                                                                                                                         |   | (UNAUDITED) |       |   | 2010         |   |       | (UNAUDITED) |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                   |   |        |       |   |         |   |       |        |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |
| CURRENT LIABILITIES:                                                                                                                                         |   |        |       |   |         |   |       |        |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |
| Notes and Trade Acceptances Payable                                                                                                                          |   | $           | 861,853    |   |         | $      | 247,836    |        |   | $ | 272,016 |   |
| Current Portion of Long-Term Debt                                                                                                                            |   |        | -          |   |         |   | -          |        |   |   | 7,672 |   |
| Accounts Payable                                                                                                                                             |   |        | 954,206    |   |         |   | 304,657    |        |   |   | 1,015,978 |   |
| Accrued Liabilities                                                                                                                                          |   |        | 420,038    |   |         |   | 1,235,523  |        |   |   | 415,859 |   |
| Income Taxes Payable                                                                                                                                         |   |        | -          |   |         |   | 152,009    |        |   |   | - |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| Total Current Liabilities                                                                                                                                    |   |        | 2,236,097  |   |         |   | 1,940,025  |        |   |   | 1,711,525 |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| LONG-TERM DEBT, NET OF CURRENT PORTION                                                                                                                       |   |        | -          |   |         |   | -          |        |   |   | 1,260 |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| DEFERRED INCOME TAX LIABILITY                                                                                                                                |   |        | 147,354    |   |         |   | 147,354    |        |   |   | 209,478 |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| Total Liabilities                                                                                                                                            |   |        | 2,383,451  |   |         |   | 2,087,379  |        |   |   | 1,922,263 |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| STOCKHOLDERS’ EQUITY:                                                                                                                                  |   |        |       |   |         |   |       |        |   |   |   |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| Common Stock: $0.30 Par Value, 2,000,000 Shares Authorized, 583,094 Shares Issued, 519,600 (03/31/11 and 12/31/10) and 519,350 (03/31/10) Shares Outstanding |   |        | 174,928    |   |         |   | 174,928    |        |   |   | 174,928 |   |
| Capital in Excess of Par Value                                                                                                                               |   |        | 1,288,793  |   |         |   | 1,288,793  |        |   |   | 1,288,793 |   |
| Retained Earnings                                                                                                                                            |   |        | 17,479,037 |   |         |   | 17,643,211 |        |   |   | 16,740,351 |   |
| Accumulated Other Comprehensive Loss                                                                                                                         |   |        | (281,245   | )      |         |   | (281,245   | )           |   |   | (281,245 | ) |
| Treasury Stock, at Cost, 63,494 (03/31/11 and 12/31/10) and 63,744 (03/31/10) Shares                                                                         |   |        | (273,219   | )      |         |   | (273,219   | )           |   |   | (276,919 | ) |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| Total Stockholders’ Equity                                                                                                                             |   |        | 18,388,294 |   |         |   | 18,552,468 |        |   |   | 17,645,908 |   |
|                                                                                                                                                         |   |        |       |   |         |   |       |        |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                             |   | $           | 20,771,745 |   |         | $      | 20,639,847 |        |   | $ | 19,568,171 |   |

----

|                                                   |   | FOR THE THREEMONTHS ENDED |      |
|--------------------------------------------------------|--------|---------------------------|-----------|
|                                                   |   | MARCH 31,                 |      |
|                                                   |   | 2011                      |      |   | 2010 |   |
| Net Sales                                              |   | $                         | 2,618,939 |   |   | $ | 2,500,791 |   |
|                                                   |   |                      |      |   |   |   |   |   |
| Costs and Expenses:                                    |   |                      |      |   |   |   |   |   |
| Cost of Goods Sold (excluding Depreciation)            |   |                      | 1,980,343 |   |   |   | 1,853,358 |   |
| Selling, General and Administrative Expense            |   |                      | 805,860   |   |   |   | 813,584 |   |
| Depreciation and Amortization                          |   |                      | 167,798   |   |   |   | 184,714 |   |
| Interest Expense                                       |   |                      | -         |   |   |   | 208 |   |
|                                                   |   |                      |      |   |   |   |   |   |
| Total Costs and Expenses                               |   |                      | 2,954,001 |   |   |   | 2,851,864 |   |
|                                                   |   |                      |      |   |   |   |   |   |
| Loss from Operations                                   |   |                      | (335,062  | ) |   |   | (351,073 | ) |
|                                                   |   |                      |      |   |   |   |   |   |
| Other Income                                           |   |                      | 154,069   |   |   |   | 20,875 |   |
|                                                   |   |                      |      |   |   |   |   |   |
| Loss from Operations Before Provision for Income Taxes |   |                      | ( 180,993 | ) |   |   | (330,198 | ) |
|                                                   |   |                      |      |   |   |   |   |   |
| Provision for Income Taxes                             |   |                      | 68,779    |   |   |   | 125,475 |   |
|                                                   |   |                      |      |   |   |   |   |   |
| Net Loss                                               |   | $                         | (112,214  | ) |   | $ | (204,723 | ) |
|                                                   |   |                      |      |   |   |   |   |   |
| Loss per Common Share                                  |   | $                         | ( 0.22    | ) |   | $ | ( 0.39 | ) |
|                                                   |   |                      |      |   |   |   |   |   |
| Dividend per Common Share                              |   | $                         | 0.10      |   |   | $ | 0.05 |   |

----

|                                                                        |   | FOR THE THREE MONTHS ENDED |       |
|-----------------------------------------------------------------------------|--------|---------------------------------|------------|
|                                                                        |   | MARCH 31,                       |       |
|                                                                        |   | 2011                            |       |   | 2010 |   |
|                                                                        |   |                            |       |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                       |   |                            |       |   |   |   |
| Net Loss                                                                    |   | $                               | (112,214   | ) |   | $ | (204,723 | ) |
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: |   |                            |       |   |   |   |   |   |
| Depreciation and Amortization                                               |   |                            | 167,798    |   |   |   | 184,714 |   |
| Provision for Deferred Income Taxes                                         |   |                            | (68,779    | ) |   |   | (125,475 | ) |
| Loss on the Sale of Marketable Equity Securities                            |   |                            | -          |   |   |   | 34,221 |   |
| Decrease (Increase) in:                                                     |   |                            |       |   |   |   |   |   |
| Accounts Receivable                                                         |   |                            | 1,576,537  |   |   |   | 363,881 |   |
| Inventories                                                                 |   |                            | (2,228,255 | ) |   |   | (1,088,006 | ) |
| Prepaid Expenses                                                            |   |                            | 190,697    |   |   |   | 136,533 |   |
| Other Assets                                                                |   |                            | (3,971     | ) |   |   | 15,300 |   |
| Income Tax Refund Receivable                                                |   |                            | -          |   |   |   | (52,867 | ) |
| Increase (Decrease) in:                                                     |   |                            |       |   |   |   |   |   |
| Accounts Payable                                                            |   |                            | 649,551    |   |   |   | 61,054 |   |
| Accrued Expense                                                             |   |                            | (867,446   | ) |   |   | (313,710 | ) |
| Income Taxes Payable                                                        |   |                            | (152,009   | ) |   |   | (37,030 | ) |
|                                                                        |   |                            |       |   |   |   |   |   |
| Net Cash Used in Operating Activities                                       |   |                            | (848,091   | ) |   |   | (1,026,108 | ) |
|                                                                        |   |                            |       |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                       |   |                            |       |   |   |   |   |   |
| Purchase of Property and Equipment                                          |   |                            | (73,555    | ) |   |   | (38,106 | ) |
| Proceeds from the Sale of Marketable Equity Securities                      |   |                            | -          |   |   |   | 111,350 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| Net Cash Provided by Investing Activities                                   |   |                            | (73,555    | ) |   |   | 73,244 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                       |   |                            |       |   |   |   |   |   |
| Net Proceeds of Short-Term Debt                                             |   |                            | 614,017    |   |   |   | 85,097 |   |
| Principal Payments of Long-Term Debt                                        |   |                            | -          |   |   |   | (2,784 | ) |
|                                                                        |   |                            |       |   |   |   |   |   |
| Net Cash Provided by Financing Activities                                   |   |                            | 614,017    |   |   |   | 82,313 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| NET DECREASE IN CASH                                                        |   |                            | (307,629   | ) |   |   | (870,551 | ) |
|                                                                        |   |                            |       |   |   |   |   |   |
| CASH, AT BEGINNING OF PERIOD                                                |   |                            | 4,772,056  |   |   |   | 3,015,063 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| CASH, AT END OF PERIOD                                                      |   | $                               | 4,464,427  |   |   | $ | 2,144,512 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| SUPPLEMENTAL CASH FLOW INFORMATION:                                         |   |                            |       |   |   |   |   |   |
| Cash paid for:                                                              |   |                            |       |   |   |   |   |   |
| Interest                                                                    |   | $                               | -          |   |   | $ | 208 |   |
| Income Tax                                                                  |   |                            | 128,000    |   |   |   | 77,802 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| Net Supplemental Cash Flows                                                 |   | $                               | 128,000    |   |   | $ | 78,010 |   |
|                                                                        |   |                            |       |   |   |   |   |   |
| Noncash financing activity:                                                 |   |                            |       |   |   |   |   |   |
| Dividends Declared                                                          |   | $                               | 51,960     |   |   | $ | 25,968 |   |

----

|   | Business Segment |   | Operation                                                                                                                                                                                                                                                                                                                                 |
|--------|------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |             |   |                                                                                                                                                                                                                                                                                                                                      |
|   | Fruit            |   | Production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking. Also, based on market conditions, the processing of frozen strawberry products, for sale to commercial and institutional users such as preservers, dairies, drink manufacturers, etc. |
|   |             |   |                                                                                                                                                                                                                                                                                                                                      |
|   | Molded Plastics  |   | Production of plastics containers and other molded plastics for sale to various food processors and others.                                                                                                                                                                                                                               |

|                            |   | March 31, |      |   | March 31, |   |
|---------------------------------|--------|-----------|-----------|--------|-----------|--------|
|                            |   | 2011      |      |   | 2010      |   |
| Net Sales in Each Segment       |   |      |      |   |      |   |
|                            |   |      |      |   |      |   |
| Fruit:                          |   |      |      |   |      |   |
| Sales to Unaffiliated Customers |   | $         | 557,403   |   |      | $      | 548,740 |   |
|                            |   |      |      |   |      |   |   |   |
| Molded Plastics:                |   |      |      |   |      |   |   |   |
| Sales to Unaffiliated Customers |   |      | 2,061,536 |   |      |   | 1,952,051 |   |
|                            |   |      |      |   |      |   |   |   |
| Net Sales                       |   | $         | 2,618,939 |   |      | $      | 2,500,791 |   |

----

|                                                  |   | March 31, |       |   | March 31, |   |
|-------------------------------------------------------|--------|-----------|------------|--------|-----------|--------|
|                                                  |   | 2011      |       |   | 2010      |   |
| Identifiable Assets of Each Segment are Listed Below: |   |      |       |   |      |   |
|                                                  |   |      |       |   |      |   |
| Fruit                                                 |   | $         | 9,797,282  |   |      | $      | 10,769,641 |   |
|                                                  |   |      |       |   |      |   |   |   |
| Molded Plastics                                       |   |      | 5,144,684  |   |      |   | 5,122,003 |   |
|                                                  |   |      |       |   |      |   |   |   |
| Identifiable Assets                                   |   |      | 14,941,966 |   |      |   | 15,891,644 |   |
|                                                  |   |      |       |   |      |   |   |   |
| General Corporate Assets                              |   |      | 5,829,779  |   |      |   | 3,676,527 |   |
|                                                  |   |      |       |   |      |   |   |   |
| Total Assets                                          |   | $         | 20,771,745 |   |      | $      | 19,568,171 |   |

----

| PARADISE, INC. | COMMISSION FILE NO. 0-3026 |
|----------------|----------------------------|

----

| PARADISE, INC. | COMMISSION FILE NO. 0-3026 |
|----------------|----------------------------|

----

| PARADISE, INC. | COMMISSION FILE NO. 0-3026 |
|----------------|----------------------------|

----

| PARADISE, INC. | COMMISSION FILE NO. 0-3026 |
|----------------|----------------------------|

| (a)   | Exhibits |
|-----------------|----------|

|   | Exhibit |   |                                                                                               |
|--------|---------|--------|----------------------------------------------------------------------------------------------------|
|   | Number  |   | Description                                                                                        |
|   |    |   |                                                                                               |
|   | 31.1    |   | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |    |   |                                                                                               |
|   | 31.2    |   | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |    |   |                                                                                               |
|   | 32.1    |   | Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|   |    |   |                                                                                               |
|   | 32.2    |   | Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

| (b)   | Reports on Form 8-K. |
|-----------------|----------------------|

----

| PARADISE, INC. | COMMISSION FILE NO. 0-3026 |
|----------------|----------------------------|

| PARADISE, INC.                        |   |   |                    |   |
|---------------------------------------|--------|--------|-------------------------|--------|
| A Florida Corporation                 |   |   |                    |   |
|                                  |   |   |                    |   |
| /s/ Melvin S. Gordon                  |   |   | Date: May 16, 2011 |   |
| Melvin S. Gordon                      |   |   |                    |   |
| Chief Executive Officer and Chairman  |   |   |                    |   |
|                                  |   |   |                    |   |
|                                  |   |   |                    |   |
| /s/ Jack M. Laskowitz                 |   |   | Date: May 16, 2011 |   |
| Jack M. Laskowitz                     |   |   |                    |   |
| Chief Financial Officer and Treasurer |   |   |                    |   |

----