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, 1997           
                    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,
                                              1997            1996 
          Common Stock
          $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,
                                              1997               1996*
     ASSETS

CURRENT ASSETS
  Cash and Unrestricted Demand Deposits    $    859,293   $     32,569
  Accounts and Notes Receivable, Less
    Allowances of $-0- (1997 and 1996)        7,444,688      7,129,438
  Inventories:
    Raw Materials                             1,400,984      1,497,398
    Work in Process                             267,592        306,756
    Finished Goods                            6,905,084      7,158,994
  Deferred Income Tax Asset                     264,006        202,042
  Prepaid Expenses and Other Current Assets     279,321        395,708

          TOTAL CURRENT ASSETS               17,420,968     16,722,905
  Real Estate Investment, at Cost               261,848        261,848
  Property, Plant and Equipment, Less
    Accumulated Depreciation of $12,688,767
    (1997) and $11,976,001 (1996)             5,567,688      5,620,854
  Deferred Charges and Other Assets             421,072        325,690

TOTAL ASSETS                                $23,671,576    $22,931,297

        LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Notes and Trade Acceptances Payable       $ 6,744,531    $ 7,268,063
  Current Portion of Long-Term Debt             959,429        920,558
  Accounts Payable                            3,095,539      2,897,539
  Accrued Liabilities                         1,339,417        990,924
  Federal and State Income Taxes Payable        495,480        297,004

          TOTAL CURRENT LIABILITIES          12,634,396     12,374,088
LONG-TERM DEBT, NET OF CURRENT PORTION        1,873,703      2,709,022
DEFERRED INCOME TAX LIABILITY                   507,722        446,858
STOCKHOLDERS' EQUITY
 Common Stock: Auth; 2,000,000 shs. @ $.30
  Par Value; Issued 582,721 (1997 and 1996)     174,926        174,926
 Capital in Excess of Par Value               1,288,793      1,288,793
 Retained Earnings                            7,466,241      6,211,815
  Less 63,551 (1997 and 1996) shares at cost
         Held in Treasury                  (   274,205)  (    274,205)

          Total Stockholders' Equity          8,655,755      7,401,329

TOTAL LIABILITIES AND STOCKHOLDERS'
  EQUITY                                    $23,671,576    $22,931,297
 *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,
                                                 1997          1996*

Net Sales                                    $9,332,654    $ 9,163,889

Costs and Expenses:
 Cost of Goods Sold                           5,183,417      5,357,821
 Selling, General and Admin. Expense          1,311,149      1,174,477
 Depreciation and Amortization                  193,626        199,594
 Interest Expense - Long Term                    67,644         89,349
 Interest Expense - Short Term                  158,365        179,975


        Total Expenses                        6,914,201      7,001,216

Other Income                                     21,794         37,136


Earnings  from Operations Before
 Provision for Income Taxes                   2,440,247      2,199,809

Provision for Income Taxes                      508,522        203,140


Net Earnings                                 $1,931,725     $1,996,669
                   


Earnings  per Common Share                       $3.72          $3.85












* 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,

                                                   1997          1996*

Net Sales                                   $12,217,141    $11,320,119

Cost s and Expenses:
   Cost of Goods Sold                         7,450,825      7,483,499
   Selling, General and Admin. Expense        2,571,410      2,279,480
   Depreciation and amortization                553,398        569,961
   Interest Expense - Long Term                 217,203        259,009
   Interest Expense - Short Term                209,456        299,418

        Total Expense                        11,002,292     10,891,367

Other Income                                     56,456         79,097

Earnings  from Operations
 Before Provision for Income Taxes            1,271,305        507,849


Provision for Income Taxes                      508,522        203,140


Net Earnings                            $       762,783   $    304,709


Earnings  per Common Share                      $1.47           $0.59



*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,
                                                 1997           1996*
CASH FLOWS FROM OPERATING ACTIVITIES:                 
  Net Earnings                            $     762,783  $     304,709
  Adjustments to Reconcile Net Earnings to Net
    Cash Used in Operating Activities
Depreciation and Amortization                   553,398        569,961
Gain on Sale of Assets                                      (    6,935)
Decrease (Increase) in:
  Accounts Receivable                        (5,936,723)    (5,997,121)
  Inventories                                (4,533,814)    (4,857,651)
  Prepaid Expenses                               61,546         94,857
Increase (Decrease) in:
  Accounts Payable                            2,427,933      2,148,541
  Accrued Expense                           (   262,953)   (   643,563)
  Income Taxes Payable                          318,522        109,274
 
    Net Cash Used in Operating Activities    (6,609,308)    (8,277,928)

CASH FLOWS FROM INVESTING ACTIVITIES:
 Purchase of Property and Equipment         (   539,390)   (   406,451)
 Proceeds from Sale of Property & Equipment                      6,935

    Net Cash Used in Investing Activities   (   539,390)   (   399,516)

CASH FLOWS FROM FINANCING ACTIVITIES:
 Net Proceeds of Short-Term Debt              6,487,030      6,879,757
 Principal Payments of Long-Term Debt       (   774,132) (     730,002)
 Dividends Paid                             (    51,954) (      56,572)
 Increase in Other Assets                   (    79,882) (     106,613)

    Net Cash Provided by Financing Activ.     5,581,062      5,986,570

        Net Decrease in Cash                 (1,567,636)   ( 2,690,874)
CASH AT BEGINNING OF PERIOD                   2,426,929      2,723,443

CASH AT END OF PERIOD                     $     859,293  $      32,569

SUPPLEMENTAL SCHEDULE OF NONCASH FINANCING AND INVESTING ACTIVITIES:

Issuance of Debt to Purchase Equipment    $     139,352  $     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
     (1997 and 1996).
    
     (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
    
     The Company's primary segment of business, glace' (candied) fruit, a
     Thanksgiving and Christmas holiday confection which accounted for
     approximately 86% of total sales during 1996, is extremely seasonal,
     with about 80% of sales in this segment being made in a 10-12 week
     period during the late third quarter and early fourth quarter each year.
     Therefore, as stated in all interim financial statements, it is the
     opinion of management that only a full year's reporting offers a
     reliable basis for the analysis of operating results.
    
     In order to satisfy demand during this relatively short period, the
     Company begins building inventories early in the year.  Also, harvest
     cycles for some of the fruits used as raw materials require that the
     Company position supplies eighteen months, or more, prior to their use.
    
     All of these factors dictate the need to borrow relatively large amounts
     of interim working capital, and, since there is very little income to
     offset ongoing expenses, operating losses are accrued well into the
     third quarter, even during years of relatively high earnings.
    
     For these same reasons, the magnitude of operations varies materially
     from one quarter to the next, and, in the opinion of management,
     analysis of the comparison between quarters is not productive.
     Therefore, this discussion is limited to comparing the current
     year-to-date with a like period during the prior year.
    
     Net sales for the first nine months were about 8% higher than during the
     same period of the prior year. In the core segment of business, glace'
     (candied) fruit, increases were due both to a reduction of returns
     of prior years sales during the current year, and the addition of
     several large chain stores to the customer list.  Selling prices were
     increased only slightly.
    
     Also contributing to higher sales was a nearly 12% increase in revenues
     of the plastics segment of business, as the strategy of pursuing higher
     technology production capabilities was continued.
    
     The only decline in sales occurred in the frozen strawberry products
     area, in which the Company elected not to produce during the last
     harvest season (mid-December thru mid-April) because of lingering
     carryover inventories on the West Coast, which depressed selling prices.
     Therefore, there was little product available for sale.
    
     Costs of goods sold, expressed as a percentage of sales, declined to 61%
     from 66%, with reductions in unit costs of certain raw materials,
     insurance and maintenance expenses, and greater production over which to
     allocate some fixed expenses.  These savings were partially offset by
     higher costs for labor, taxes and licenses, utilities, and mandated
     environmental protection measures.
    
    
    
    
    
    
                           Page 6
    
     PARADISE, INC.                               COMMISSION FILE 0-3026
    
     Comparatively speaking, selling, general and administrative expenses
     increased about 13% over a wide range of line items, including payroll,
     brokerage, freight, warehousing, legal and audit, and pension fund
     accruals.  Depreciation and amortization remained relatively stable.
    
     Interest expense was reduced by more than 23%, reflecting smaller
     average short term borrowings,lower term debt, and improved interest
     rates.
    
     Other income, generated mostly from the leasing to others of assets not
     currently required for Company operations, declined by nearly 30%, but
     in relation to overall income, the amount is not considered significant.
    
     After tax earnings were two and one-half times those reported for the
     first nine months of 1996.  This fact gives cause for optimism, but with
     an estimated more than 40% of anticipated annual sales yet to be made,
     it is the opinion of management that it is far too early to forecast the
     year's final outcome with any degree of certainty.
    
    
     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: October 31, 1997        PARADISE, INC.
    
    
                                       
                                        Melvin S. Gordon, President
    
                                       
                                        Eugene L. Weiner, Executive Vice
                                        President, Secretary-Treasurer
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
                           Page 7