FORM 10 - QSB
                            
          SECURITIES AND EXCHANGE COMMISSION
                            
                            
                Washington, D.C. 20549
                            
     QUARTERLY REPORT UNDER SECTION 13 or 15 (d) OF
                            
         THE SECURITIES EXCHANGE ACT OF 1934
                            
               For the Quarterly Period Ended September 30, 1996           
                    Commission File No. 0-3026
                            
                    PARADISE, INC.
                            
                    INCORPORATED IN FLORIDA       
                    IRS IDENTIFICATION NO. 59-1007583
                            
          1200 DR. MARTIN LUTHER KING, JR. BLVD.,
                 PLANT CITY, FLORIDA 33566
                            
                    (813) 752-1155
                            
                             
    
     "Indicate by check mark whether the registrant has filed all annual,
      quarterly and other reports required to be filed with the Commission
      within the past 90 days and in addition has filed the most recent
      annual report required to be filed.  Yes X No__."
    
      "Indicate the number of shares outstanding of each of the issuer's
       classes of common stock, as of the last practicable date."
    
              Class                         Outstanding as of September 30,
           Common Stock                        1996                1995
          $0.30 Par Value                  519,170 Shares      519,170 Shares
    
    
    
    
    
Page 1
PARADISE, INC.                          COMMISSION FILE NO. 0-3026
PART I.  FINANCIAL INFORMATION
Item 1. Financial Statements
    (a) (1)    CONSOLIDATED BALANCE SHEETS

                                             AS OF SEPTEMBER 30,
                                        1996               1995*
     ASSETS

CURRENT ASSETS
  Cash and Unrestricted Demand Deposits    $     32,569    $   365,066
  Accounts and Notes Receivable, Less
    Allowances of $-0- (1996 and 1995)        7,129,438      7,564,018
  Inventories:
    Raw Materials                             1,497,398      1,545,406
    Work in Process                             306,756        270,960
    Finished Goods                            7,158,994      6,661,468
  Deferred Income Tax Asset                     202,042        201,367
  Income Tax Refund Receivable                        0         99,914
  Prepaid Expenses and Other Current Assets     395,708        723,026

          TOTAL CURRENT ASSETS               16,722,905     17,431,225
  Real Estate Investment, at Cost               261,848        261,848
  Property, Plant and Equipment, Less
    Accumulated Depreciation of $11,976,001
    (1996) and $11,677,123 (1995)             5,620,854      5,407,285
  Deferred Charges and Other Assets             325,690        238,061

TOTAL ASSETS                                $22,931,297    $23,338,419

        LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Notes and Trade Acceptances Payable       $ 7,268,063    $ 6,732,272
  Current Portion of Long-Term Debt             920,558        882,235
  Accounts Payable                            2,897,539      3,251,185
  Accrued Liabilities                           990,924      1,219,674
  Federal and State Income Taxes Payable        297,004        364,697

          TOTAL CURRENT LIABILITIES          12,374,088     12,450,063
LONG-TERM DEBT, NET OF CURRENT PORTION        2,709,022      3,310,042
DEFERRED INCOME TAX LIABILITY                   446,858        605,862
STOCKHOLDERS' EQUITY
  Common Stock: Auth; 2,000,000 shs. @ $.30
     Par Value; Issued 582,721 (1996 and 1995)  174,926        174,926
  Capital in Excess of Par Value              1,288,793      1,288,793
  Retained Earnings                           6,211,815      5,782,938
  Less 63,551 (1996 and 1995) shares at cost
         Held in Treasury                  (   274,205)  (    274,205)

          Total Stockholders' Equity          7,401,329      6,972,452

TOTAL LIABILITIES AND STOCKHOLDERS'
  EQUITY                                    $22,931,297    $23,338,419
 *Restated for Comparative PurposesPage 2

PARADISE, INC.                                   COMMISSION FILE NO. 0-3026

ITEM 1.  Financial Statements  (Continued)

(a) (1)             CONSOLIDATED STATEMENTS OF INCOME

                                           FOR THE THREE MONTHS ENDED
                                                 SEPTEMBER 30,
                                                1996          1995*

Net Sales                                    $9,163,889    $ 9,399,066

Costs and Expenses:
 Cost of Goods Sold                           5,380,686      5,380,356
 Selling, General and Administrative Expense  1,174,477      1,254,217
 Depreciation and Amortization                  199,594        188,396
 Interest Expense - Long Term                    89,349         37,232
 Interest Expense - Short Term                  179,985        255,375


        Total Expenses                        7,024,091      7,115,566

Other Income                                     37,136        136,198


Earnings  from Operations Before
 Provision for Income Taxes                   2,176,934      2,419,688

Provision for Income Taxes                      203,139        364,697


Net Earnings                                 $1,973,795     $2,054,991  
                 

Earnings  per Common Share                       $3.80           $3.96












* Restated for Comparative Purposes





                              Page 3

PARADISE, INC.                            COMMISSION FILE NO. 0-3026

Item 1.  Financial Statements (Continued)

  (a) (1)    CONSOLIDATED STATEMENTS OF INCOME

                                              FOR THE NINE MONTHS ENDED
                                                    SEPTEMBER 30,

                                                   1996          1995*

Net Sales                                   $11,320,119    $11,774,110

Cost s and Expenses:
   Cost of Goods Sold                         7,492,454      7,534,372
   Selling, General and Administrative Expense2,270,525      2,382,445
   Depreciation and amortization                569,961        515,517
   Interest Expense - Long Term                 259,009        160,353
   Interest Expense - Short Term                299,418        415,474

        Total Expense                        10,891,367     11,008,161

Other Income                                     79,097        145,792

Earnings  from Operations
 Before Provision for Income Taxes              507,849        911,741


Provision for Income Taxes                      203,139        364,697


Net Earnings                              $     304,710    $   547,044


Earnings  per Common Share                        $0.59         $1.05



*Restated for Comparative Purposes



  












                              Page 4
PARADISE, INC.                                 COMMISSION FILE NO. 0-3026

Item 1.  Financial Statements (Continued)

(a) (1)             CONSOLIDATED STATEMENTS OF CASH FLOWS
                                            FOR THE NINE MONTHS ENDED
                                                SEPTEMBER  30,
                                                 1996          1995*
CASH FLOWS FROM OPERATING ACTIVITIES:                 
Net Earnings                              $     304,709  $     547,045
Adjustments to Reconcile Net Earnings to Net
    Cash Used in Operating Activities
Depreciation and Amortization                   569,961        515,517
Gain on Sale of Assets                   (       6,935)   (   102,500)
Decrease (Increase) in:
  Accounts Receivable                       (5,997,121)    (5,652,576)
  Inventories                               (4,857,651)    (4,673,566)
  Prepaid Expenses                               94,857  (     90,912)
Increase (Decrease) in:
  Accounts Payable                            2,148,541      2,674,145
  Accrued Expense                          (   643,563)   (   245,402)
  Income Taxes Payable                          109,274        364,697
 
    Net Cash Used in Operating Activities   (8,277,928)    (6,663,552)

CASH FLOWS FROM INVESTING ACTIVITIES:
 Purchase of Property and Equipment        (   406,451)   (   233,249)
 Proceeds from Sale of Property and Equipment     6,935        102,500

    Net Cash Used in Investing Activities  (   399,516)  (    130,749)

CASH FLOWS FROM FINANCING ACTIVITIES:
 Net Proceeds of Short-Term Debt              6,879,757      6,560,636
 Proceeds from Issuance of Long-Term Debt             0        325,542
 Principal Payments of Long-Term Debt      (   730,002)   (   374,193)
 Dividends Paid                            (    56,572)              0
 Increase in Other Assets                  (   106,613)   (    98,942)

  Net Cash Provided by Financing Activities   5,986,570      6,413,043

        Net Decrease in Cash                (2,690,874)   (   381,258)
CASH AT BEGINNING OF PERIOD                   2,723,443        746,324

CASH AT END OF PERIOD                     $      32,569    $   365,066

SUPPLEMENTAL SCHEDULE OF NONCASH FINANCING AND INVESTING ACTIVITIES:

Issuance of Long-Term Debt to Purchase Equipment $    497,022               

                                                                     
*Restated for Comparative Purposes                    
                                 



                              Page 5

    PARADISE, INC.                                  COMMISSION FILE 0-3026
    
     Item 1.  Financial Statements (continued)
    
     (g) Earnings per common share, assuming no dilution, are based on the
     weighted average number of shares outstanding during the period: 519,170
     (1996 and 1995).
    
     (h) The foregoing information is unaudited, but, in the opinion of
     management, includes all adjustments, consisting of normal accruals,
     necessary for a fair presentation of the results for the period reported.
    
     Item 2.  Management's Discussion and Analysis of Financial Condition and
     Results of Operations
    
     Background
    
    
     As in the past, this analysis begins with the caveat that, in the opinion
     of management, only a full year's accounting will yield an accurate
     reporting of the Company's financial position and progress.
    
     Paradise's principal segment of business is glace' (candied) fruit,
     which is used primarily as an ingredient for Thanksgiving and Christmas
     holiday fruit cakes and other confections.  As such, 80% of the total
     annual sales in this segment are concentrated between the second week in
     September and the middle of November each year.
    
     However, in order to meet demand during this relatively short period, the
     Company must manufacture, pack and store product for ten to eleven
     months prior to this shipping "season", which requires a proportionately
     large amount of working capital, and for which ongoing expenses are
     accrued with little offset from income.  Therefore, it is not uncommon for
     financial statements to reflect substantial losses well into the third
     quarter.
    
     Also, due to seasonal differences in operations, comparison of the current
     quarter with the quarter immediately preceding offers little useful data
     in assessing the Company's financial condition. Therefore, this
     discussion is limited to a comparison of the first nine months of 1996
     with the similar period during the preceding year.
    
     Sales
    
     The decline in total sales volume for the period was nearly 4%.  Sales
     in the strawberry segment of business were reduced in an amount almost
     equal to this total decline, as the Company did not plant strawberry
     crops in the autumn of 1995, and, therefore, had no new fresh or frozen
     product to sell during 1996.  The decision not to plant was made because
     of industry-wide large carryover inventories of frozen product, and the
     consequent depression of market prices.  The relatively limited sales of
     Paradise strawberries to date were from inventories existing at the
     beginning of the year.
    
     There were differences in other business segments as well.  Sales in the
     molded plastics segment increased by more than 13%, as the Company's
     strategy of discontinuing the manufacture of high-volume, low-profit
     items in exchange for higher technology, higher profit products began to
     show positive results.  Overall net sales of candied fruit products
     decreased by about 2% for two principal reasons: (i) timing differences
     in the shipping dates for the same customers from 1995 to 1996, and (ii)
     higher than anticipated returns of 1995 holiday merchandise, which, in
     turn, reduced 1996 sales in a greater magnitude than similar
     transactions during the prior year.
    
    
    
    
    
                           Page 6
    
     PARADISE, INC.                                COMMISSION FILE 0-3026
    
    
     Since the quarter ends at the very peak of seasonal shipments, a timing
     difference of only one working day during the month of September can
     result in several hundreds of thousands of dollars of difference in
     sales volume for that month and for the third quarter.  (As an example,
     in subsequent events, the sales volume for the first invoicing day in
     October, 1996 exceeded the first invoicing day in October, 1995 by more
     than $900,000).
    
     As reported in numerous filings, the Company offers to certain customers
     the privilege to return a certain percentage of purchases, for which a
     premium is paid.  At year-end, the estimated loss in gross profits on
     these returns is calculated and reserved, so that returns of prior year
     sales will have little impact on the subsequent year's profits.  During
     1996, returns exceeded estimates, eroding current year sales and income.
    
     These excess returns were generated by a very few customers, who have
     attempted to make return policies and practices at the store level into
     "profit centers" in and of themselves.  As a consequence, Paradise
     management has initiated a comprehensive system of reviewing each order
     as it is received, and limiting each customer's shipments to a level
     that approximates the prior year's net sales, plus a margin for
     reasonable growth.
    
     Expenses
    
     Expressed as a percentage of sales, cost of goods sold increased by
     about 2%, reflecting increased expenses for (i) several raw materials,
     ingredients and supplies; (ii) for government-mandated water effluent
     treatment; (iii) a general increase in factory labor expense, driven by
     new minimum wage legislation; (iv) costs related to handling the returns
     mentioned above; and (v) several other miscellaneous items.
    
     Depreciation and amortization escalated by about 10%, due to some
     required capital refurbishment of buildings, and the purchase of new
     plastics molding machine to provide more economical packaging for the
     Company's own products, and to provide capacity for new demand in this
     business segment.
    
     Selling, general and administrative expenses declined by nearly 5%, with
     reductions in many line items in this category being offset somewhat by
     increases in payroll, royalty expense, warehousing, and several other
     miscellaneous expenses.
    
     Total interest expense declined slightly, with the differences in
     "long-term" and "short-term" classifications being caused by the
     restructuring of Company debt during mid-year 1995.
    
     Income
    
     Other income was reduced materially because the sale of some fully
     depreciated equipment during 1995 provided a large share of such income
     accrued for that period.  Similar sales have not taken place to date
     during the current year.
    
     For many of the reasons stated above, after-tax earnings have been
     reduced from $1.05 to $.59 per share for the nine months reported
     herein.  However, only approximately 55% of the anticipated annual
     sales have been made to date, with the balance to be made in the fourth
     quarter.  It remains the opinion of management, therefore, that it would
     be premature to predict year-end results at this time.
    
    
    
                           Page 7
    
     PARADISE, INC.                  COMMISSION FILE NO. 0-3026
    
    
     PART II.  OTHER INFORMATION
    
     None of the item numbers on captions are applicable to this report and
     are, therefore, omitted.
    
                         SIGNATURES
    
     Pursuant to the requirements of the Securities Exchange Act of 1934, the
     registrant has duly caused this report to be signed on its behalf by the
     undersigned, thereunto duly authorized.
    
     Date: November 10, 1996       PARADISE, INC.
    
    
                                       
                                        Melvin S. Gordon, President
    
                                       
                                        Eugene L. Weiner, Executive
                                        Vice President, Secretary-Treasurer
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
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