FORM 10 - QSB

                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


(X) Quarterly report pursuant to section 13 or 15(d) of the Securities Act of
     1934.

        For the quarterly period ended March 31, 2006

                            or

( ) Transition report pursuant to section 13 or 15(d) of the Securities Act of
     1934.

                           Commission File No. 0-3026


                                 PARADISE, INC.

                            INCORPORATED IN FLORIDA
                 I.R.S. EMPLOYER 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 (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities and Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

Yes X ;    No
   ---       ---.

The number of shares outstanding of each of the issuer's classes of common
Stock:

          Class                          Outstanding as of March 31,
          -----                          ---------------------------
                                          2006               2005
                                          ----               ----
       Common Stock
      $0.30 Par Value                519,350 Shares      519,350 Shares











PARADISE, INC.                   COMMISSION FILE NO. 0-3026

PART I.   FINANCIAL INFORMATION
Item 1.   Financial Statements

                   PARADISE, INC. AND SUBSIDIARIES
                     CONSOLIDATED BALANCE SHEETS
                             (UNAUDITED)
                  ---------------------------------

                                        AS OF MARCH 31,
                                       ---------------
                                      2006           2005
                                      ----           ----
ASSETS
------

CURRENT ASSETS:
 Cash and Unrestricted
  Demand Deposits                 $ 2,051,542    $ 1,657,993
 Accounts and Notes
  Receivable, Less
  Allowances of $-0-
  (2006 and 2005)                   1,319,551      1,184,702
 Inventories:
  Raw Materials                     2,357,771      2,952,222
  Work in Process                      55,282         11,889
  Finished Goods                    4,989,977      5,059,251
 Deferred Income Tax Asset            175,932        277,970
 Income Tax Refund
  Receivable                           45,107        365,485
 Prepaid Expenses and Other
  Current Assets                      309,125        310,555
                                   ----------     ----------

   TOTAL CURRENT ASSETS            11,304,287     11,820,067

 Property, Plant and Equipment,
  Less Accumulated Depreciation
  of $14,892,966 (2006) and
  $14,103,617 (2005)                6,140,817      5,842,717
 Goodwill                             413,280        413,280
 Deferred Charges and Other
  Assets                              451,934        735,623
                                   ----------     ----------

TOTAL ASSETS                     $ 18,310,318   $ 18,811,687
                                   ==========     ==========












See Accompanying Notes to these Consolidated Financial Statements (Unaudited)


LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------

                                        AS OF MARCH 31,
                                       ---------------
                                      2006           2005
                                      ----           ----

CURRENT LIABILITIES:
 Notes and Trade Acceptances
  Payable                        $    386,487   $    201,827
 Current Portion of Long-Term
  Debt                                199,244        252,254
 Accounts Payable                     773,214      1,785,244
 Accrued Liabilities                  513,303        440,956
                                    ---------      ---------

   TOTAL CURRENT LIABILITIES        1,871,886      2,680,281


LONG-TERM DEBT, NET OF CURRENT
 PORTION                              565,285        744,398

DEFERRED INCOME TAX LIABILITY         431,784        536,548
                                    ---------      ---------

   TOTAL LIABILITIES                2,868,955      3,961,227
                                    ---------      ---------

STOCKHOLDERS' EQUITY:
 Common Stock: $.30 Par Value,
   2,000,000 Shares Authorized,
   583,094 Shares Issued,
   519,350 Shares Outstanding         174,928        174,928
 Capital in Excess of Par Value     1,288,793      1,288,793
 Retained Earnings                 14,292,699     13,717,997
 Unrealized Holding Gain (Loss)
  on Securities                   (    38,138 )  (    54,339 )
 Treasury Stock, at Cost,
  63,744 Shares                   (   276,919 )  (   276,919 )
                                   ----------     ----------

   Total Stockholders' Equity      15,441,363     14,850,460
                                   ----------     ----------
TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY            $ 18,310,318   $ 18,811,687
                                   ==========     ==========













See Accompanying Notes to these Consolidated Financial Statements (Unaudited)
                       PARADISE, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF INCOME
                                (UNAUDITED)
                     -----------------------------------

                               FOR THE THREE MONTHS ENDED
                               --------------------------
                                         MARCH 31
                                         --------
                                   2006            2005
                                   ----            ----

Net Sales                     $  2,664,619    $  2,506,400
                                 ---------       ---------

Costs and Expenses:
 Cost of Goods Sold
  (excluding Depreciation)       2,105,325       1,971,270
 Selling, General and
  Administrative Expense           870,577         838,599
 Depreciation and Amortization     209,096         217,595
 Interest Expense                   13,353          13,359
                                 ---------       ---------

   Total Costs and Expenses      3,198,351       3,040,823
                                 ---------       ---------

Loss from Operations           (   533,732 )   (   534,423 )

Other Income                        27,025           9,792
                                 ---------       ---------
Loss from Operations Before
 Provision for Income Taxes    (   506,707 )   (   524,631 )

Provision for Income Taxes               0               0
                                 ---------       ---------

Net Loss                      $(   506,707 )  $(   524,631 )
                                 =========       =========



Loss per Common Share            $(  .97 )       $( 1.01 )
                                    ====            ====

Dividend per Common Share        $   .15         $   .10
                                    ====            ====














See Accompanying Notes to these Consolidated Financial Statements (Unaudited)
                    PARADISE, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (UNAUDITED)
                ---------------------------------------

                                      FOR THE THREE MONTHS ENDED
                                      --------------------------
                                               MARCH 31,
                                               ---------
                                          2006             2005
                                          ----             ----
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net Loss                            $(   506,707 )   $(   524,631 )
 Adjustments to Reconcile Net
  Loss to Net Cash Used in
  Operating Activities:
   Depreciation and Amortization          209,096          217,594
   Decrease (Increase) in:
    Accounts Receivable                   765,482          475,512
    Inventories                       ( 1,325,616 )    ( 2,520,108 )
    Prepaid Expenses                       17,533          141,739
    Other Assets                           14,073      (       125 )
    Income Tax Receivable             (    45,107 )
   Increase (Decrease) in:
    Accounts Payable                      202,669        1,567,514
    Accrued Expense                   (   883,240 )    (   751,691 )
    Income Taxes Payable              (   390,097 )
                                        ---------        ---------
    Net Cash Used in
      Operating Activities            ( 1,941,914 )    ( 1,394,196 )
                                        ---------        ---------

CASH FLOWS FROM INVESTING
 ACTIVITIES:
 Purchase of Property and
  Equipment                           (   387,296 )    (   300,535 )
                                        ---------        ---------

   Net Cash Used in
    Investing Activities              (   387,296 )    (   300,535 )
                                        ---------        ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
 Net Proceeds of Short-Term Debt          375,701          156,611
 Principal Payments of Long-Term
  Debt                                (    64,833 )    (    62,698 )
                                        ---------        ---------

   Net Cash Provided by
    Financing Activities                  310,868           93,913
                                        ---------        ---------

   Net Decrease in Cash               ( 2,018,342 )    ( 1,600,818 )


CASH AT BEGINNING OF PERIOD             4,069,884        3,258,811
                                        ---------        ---------

CASH AT END OF PERIOD                $  2,051,542     $  1,657,993
                                        =========        =========


SUPPLEMENTAL CASH FLOW INFORMATION:
  Cash paid for:
    Interest                        $      13,353     $     13,359
                                        =========        =========

  Noncash financing activity:
    Dividends Declared              $      77,903     $     51,935
                                        =========        =========


See Accompanying Notes to these Consolidated Financial Statements (Unaudited)


                     PARADISE, INC. AND SUBSIDIARIES
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                              (UNAUDITED)
               --------------------------------------------

Note 1     Basis of Presentation
--------------------------------

The accompanying unaudited consolidated financial statements of
Paradise, Inc. (the "Company") have been prepared by the Company
in accordance with generally accepted accounting principles for interim
financial information and pursuant to the rules and regulations of the
Securities and Exchange Commission.  Accordingly, they do not include
all the information and footnotes required by generally accepted
accounting principles for annual financial statements.

The information furnished herein reflects all adjustments and accruals
that management believes is necessary to fairly state the operating
results for the respective periods.  The notes to the financial
statements should be read in conjunction with the notes to the
consolidated financial statements contained in the Company's Form 10-KSB
for the year ended December 31, 2005. The Company's management believes
that the disclosures are sufficient for interim financial reporting
purposes.



Note 2     Net Loss per Share
--------------------------------------

Net loss per share, assuming no dilution, are based on the weighted
average number of shares outstanding during the period: 519,350
(2006 and 2005).















Note 3     Business Segment Data
--------------------------------

The Company's operations are conducted through two business segments.
These segments, and the primary operations of each, are as follows:

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, 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.

                                    Three Months         Three Months
                                       Ended                Ended
                                   March 31, 2006       March 31, 2005
                                   --------------       --------------

Net Sales in Each Segment
-------------------------

Fruit:
 Sales to Unaffiliated Customers     $   583,272         $   460,066

Molded Plastics:
 Sales to Unaffiliated Customers       2,081,347           2,046,334
                                       ---------           ---------

Net Sales                            $ 2,664,619         $ 2,506,400
                                       =========           =========


For the three month period ended March 31, 2006 and 2005, sales of
frozen strawberry products totaled $167,464 and $31,629, respectively.

The Company does not account for intersegment transfers as if the
transfers were to third parties.

The Company does not prepare operating profit or loss information on a
segment basis for internal use, until the end of each year.  Due to the
seasonal nature of the fruit segment management believes that it is not
practical to prepare this information for interim reporting purposes.
Therefore, reporting is not required by generally accepted accounting
principles.







                                   Three Months         Three Months
                                      Ended                Ended
                                  March 31, 2006       March 31, 2005
                                  --------------       --------------

Identifiable Assets of Each
 Segment are Listed Below
---------------------------

Fruit                              $  7,543,651         $  8,959,877

Molded Plastics                       6,601,365            5,340,722
                                     ----------           ----------

Identifiable Assets                  14,145,016           14,300,599

General Corporate Assets              4,165,302            4,511,088
                                     ----------           ----------

Total Assets                       $ 18,310,318         $ 18,811,687
                                     ==========           ==========


Identifiable assets by segment are those assets that are principally
used in the operations of each segment.  General corporate assets are
principally cash, land and buildings, and investments.




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

Overview
--------

Paradise, Inc.'s main business segment, glace' fruit, a prime ingredient
of fruitcakes and other holiday confections, represented 68% of total
net sales during 2005.  These products are sold to manufacturing bakers,
institutional users, supermarkets and other retailers throughout the
country.  Consumer demand for glace' fruit product is traditionally
strongest during the Thanksgiving and Christmas season.  Almost 80% of
glace' fruit product sales are recorded from the eight to ten weeks
beginning in mid September.

Since the majority of the Company's customers require delivery of
glace' candied fruit products during this relatively short period of
time, Paradise must operate at consistent levels of production from as
early as January through the middle of November of each year in order to
meet peak demands.  Furthermore, the Company must make substantial
borrowings of short-term working capital to cover the cost of raw
materials, factory overhead and labor expense associated with production
for inventory.  This combination of building and financing inventories
during the year, without the opportunity to record any significant fruit
product income, results in the generation of operating losses well into
the third quarter of each year.  Therefore, it is the opinion of
management that meaningful forecasts of annual net sales or profit
levels require analysis of a full year's operations.


In addition, comparison of current quarterly results to the preceding
quarter produces an incomplete picture on the Company's performance due
to year-to-year changes in production schedules, seasonal harvests and
availability of raw materials, and in the timing of customer orders and
shipments.  Thus, the discussion of information presented within this
report is focused on the review of the Company's current year-to-date
results as compared to the similar period last year.

Paradise's other business segment, Paradise Plastics, Inc. a wholly
owned subsidiary of Paradise, Inc. producing custom molding products is
not subject to the seasonality of the glace' fruit business.  This
segment represents all injection molding and thermoforming operations,
including the packaging for the Company's fruit products.  Only sales to
unaffiliated customers are reported.

The First Quarter
-----------------

Paradise, Inc.'s fruit segment net sales for the first quarter of 2006
increased 26.8% compared to the first quarter of 2005, as favorable
weather conditions allowed for the earlier processing of strawberry
production and subsequent invoicing of a tolling charge in March, 2006
versus April, 2005.  For the past three years Paradise, Inc. has entered
into an agreement with a Florida based Company to process fresh
strawberries into various finished products for retail distribution to
the marketplace.

Paradise Plastics, Inc.'s net sales to unaffiliated customers, increased
by 1.7% for the first quarter of 2006 compared to the prior reporting
period of 2005.  Plastics segment's net sales have increased by 85% over
the past five years leveled off during the first quarter of 2006 as
Paradise Plastics, Inc. successfully completed the relocation of the
Company's Central Florida operations to its new 10,000 square foot
facility located in Plant City, Florida. This relocation required the
dismantling, transfer and re-assembly of all plastics production assets
on a pre-determined schedule during the months of February and March of
this year.  With the new Plastics facility operational as of the date of
this filing, management is confident the consolidation of production
capabilities will continue to enhance the recent growth trend of this
business segment.

Cost of sales as a percentage of net sales remained constant during the
first quarter of 2006 compared to the prior year's similar reporting
period.  However, first quarter price increases absorbed from the
Company's suppliers of plastics resins along with price increases
received for the purchase of raw fruit, corn syrup and packaging
materials will translate into higher production costs for 2006.

Selling, general & administrative expenses increased 3.8% compared to
the previous year's reporting period as an increase in advertising
expenses related to the redemption of discount coupons for glace' fruit
purchases was partially offset by lower administrative expenses during
the first quarter of 2006.

Depreciation and amortization expenses decreased 3.9% for the first
quarter of 2006 compared to the similar period of 2005 as additions to
Property, Plant and Equipment were less than retirements of these assets
during the similar period of 2005.



Interest expense for the first quarter of 2006 remained constant with
the prior year's first quarter expense as increases in interest rates
charged by the Company's primary lender were offset by a declining
amount of long term debt.  Furthermore, there were no borrowings on the
Company's revolving short-term working capital loan during the first
quarter of 2006.


Summary
-------

Fruit net sales increased by 26.8% during the first quarter of 2006
compared to the previous year's reporting period as favorable weather
conditions allowed for the earlier processing and invoicing of a tolling
charge for strawberries.  The Plastics segment which accounted for 78.1%
of overall net sales during the first quarter of 2006 successfully
completed the relocation of its Central Florida based operations to its
headquarters located in Plant City, Florida.

Overall, net sales increased by 6.3% for the first quarter of 2006
compared to the similar period of 2005.  However, with less than 10% of
estimated annual net sales recorded as of March 31, 2006 no reasonable
forecast or trend can be developed at this time.





ITEM 3.   Controls and Procedures
-----------------------------------

The Company's Chief Executive Officer and Chief Financial Officer have,
within 90 days of the filing date of this quarterly report, evaluated the
Company's disclosure controls and procedures.  Based on their evaluation,
the Company's Chief Executive Officer and Chief Financial Officer have
concluded that the Company's disclosure controls and procedures are effective
to ensure that information required to be disclosed by the Company in reports
that it files or submits under the Securities Exchange Act of 1934 is
recorded, processed, summarized and reported within the time periods
specified in the applicable Securities and Exchange Commission rules and
forms.  There were no significant changes in the Company's internal controls
or in other factors that could significantly affect these controls subsequent
to the date of the most recent evaluation of these controls by the Company's
Chief Executive Officer and Chief Financial Officer.  No significant
deficiencies or material weaknesses in the Company's internal controls were
identified therefore no corrective actions were taken.















PART II.  OTHER INFORMATION
---------------------------


Item 1.   Legal Proceedings - N/A


Item 2.   Changes in Securities - N/A


Item 3.   Defaults Upon Senior Securities - N/A


Item 4.   Submission of Matters to a Vote of Security Holders - N/A


Item 5.   Other Information - N/A


Item 6.   Exhibits and Reports on Form 8-K


          (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 the Chief Executive
                                 Officer pursuant to Section 906 of the
                                 Sarbanes-Oxley Act of 2002

                32.2            Certification of the Chief Financial
                                 Officer pursuant to Section 906 of the
                                 Sarbanes-Oxley Act of 2002


          (b)  Reports on Form 8-K.

                 None.














                              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.


                  PARADISE, INC.
                  A Florida Corporation

                  /s/ Melvin S. Gordon              Date:  May 15, 2006
                  -----------------------------
                  Melvin S. Gordon
                  Chief Executive Officer and Chairman



                  /s/ Jack M. Laskowitz             Date:  May 15, 2006
                  ------------------------------
                  Jack M. Laskowitz
                  Chief Financial Officer and Treasurer