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 September 30, 2003

                            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 September 30,
          -----                          ------------------------------
                                          2003                  2002
                                          ----                  ----
       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 SEPTEMBER 30,
                                      -------------------
                                      2003           2002 *
                                      ----           ----
ASSETS
------

CURRENT ASSETS:
 Cash and Unrestricted
  Demand Deposits                $   413,300    $    36,671
 Accounts and Notes
  Receivable, Less
  Allowances of $-0-
  (2003 and 2002)                  7,027,373      8,293,970
 Inventories:
  Raw Materials                    1,672,484      1,671,876
  Work in Process                    466,530        445,206
  Finished Goods                   8,526,913      9,075,761
 Deferred Income Tax Asset           372,832        325,453
 Income Tax Refund
  Receivable                         211,948        202,281
 Prepaid Expenses and Other
  Current Assets                     656,679        626,798
                                  ----------     ----------

   TOTAL CURRENT ASSETS           19,348,059     20,678,016

 Property, Plant and Equipment,
  Less Accumulated Depreciation
  of $15,350,065 (2003) and
  $16,096,822 (2002)               5,662,291      6,014,230
 Deferred Charges and Other
  Assets                             600,390        699,372
                                  ----------     ----------

TOTAL ASSETS                    $ 25,610,740   $ 27,391,618
                                  ==========     ==========




                                      AS OF SEPTEMBER 30,
                                      -------------------
                                     2003            2002 *
                                     ----            ----

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

CURRENT LIABILITIES:
 Notes and Trade Acceptances
  Payable                       $   5,745,408  $   7,752,011
 Current Portion of Long-Term
  Debt                                239,376        165,644
 Accounts Payable                   1,872,265      1,474,036
 Accrued Liabilities                1,310,938      1,368,486
 Income Taxes Payable                 240,050        683,883
                                   ----------     ----------

   TOTAL CURRENT LIABILITIES        9,408,037     11,444,060


LONG-TERM DEBT, NET OF CURRENT
 PORTION                              443,472        662,210

DEFERRED INCOME TAX LIABILITY         436,929        362,191

STOCKHOLDERS' EQUITY:
 Common Stock: Auth. 2,000,000
  shares at $.30 Par Value; Issued
  583,094 Shares; Outstanding
  519,350 Shares                      174,928        174,928
 Capital in Excess of Par Value     1,288,793      1,288,793
 Retained Earnings                 14,222,291     13,818,788
 Unrealized Holding Gain (Loss)
  on Securities                  (     86,791 ) (     82,433 )
 Treasury Stock, at Cost,
  63,744 Shares                  (    276,919 ) (    276,919 )
                                   ----------     ----------

   Total Stockholders' Equity      15,322,302     14,923,157
                                   ----------     ----------
TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY           $  25,610,740  $  27,391,618
                                   ==========     ==========

* Restated (See Note 3)

See Accompanying Notes to these Consolidated Financial
 Statements (Unaudited).





                       PARADISE, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF INCOME
                                (UNAUDITED)
                     -----------------------------------

                                  FOR THE THREE MONTHS ENDED
                                  --------------------------
                                         SEPTEMBER 30
                                         ------------
                                     2003            2002 *
                                     ----            ----

Net Sales                        $ 9,042,652    $ 10,254,288
                                   ---------      ----------

Costs and Expenses:
 Cost of Goods Sold (excluding
  Depreciation)                    6,204,904       6,255,129
 Selling, General and
  Administrative Expense           1,307,124       1,170,130
 Depreciation and Amortization       194,373         224,171
 Interest Expense                     45,579          69,546
                                   ---------      ----------

   Total Costs and Expenses        7,751,980       7,718,976
                                   ---------      ----------

Income from Operations             1,290,672       2,535,312

Other Income                          26,956          21,139
                                   ---------      ----------
Income from Operations Before
 Provision for Income Taxes        1,317,628       2,556,451

Provision for Income Taxes           240,050         683,883
                                   ---------      ----------

Net Income                       $ 1,077,578    $  1,872,568
                                   =========      ==========



Net Income per Common Share         $ 2.07          $ 3.61
                                      ====            ====

Weighted Average Common Shares
 Outstanding                        519,350         519,350
                                    =======         =======

* Restated (See Note 2)

See Accompanying Notes to these Consolidated Financial
 Statements (Unaudited).





                       PARADISE, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF INCOME
                                 (UNAUDITED)
                     -----------------------------------

                                 FOR THE NINE MONTHS ENDED
                                 -------------------------
                                       SEPTEMBER 30
                                       ------------
                                     2003           2002 *
                                     ----           ----

Net Sales                       $ 13,030,976    $ 13,963,835
                                  ----------      ----------

Costs and Expenses:
 Cost of Goods Sold (excluding
  Depreciation)                    8,908,024       8,642,851
 Selling, General and
  Administrative Expense           2,774,228       2,738,660
 Depreciation and Amortization       575,841         693,208
 Interest Expense                     83,453         133,133
                                  ----------      ----------

   Total Costs and Expenses       12,341,546      12,207,852
                                  ----------      ----------

Income from Operations               689,430       1,755,983

Other Income                          46,287          43,709
                                  ----------      ----------
Income from Operations Before
 Provision for Income Taxes          735,717       1,799,692

Provision for Income Taxes           240,050         683,883
                                  ----------      ----------

Net Income                      $    495,667    $  1,115,809
                                  ==========      ==========



Net Income per Common Share        $  .95          $ 2.15
                                     ====            ====

Weighted Average Common Shares
 Outstanding                        519,350         519,350
                                    =======         =======


*Restated  (See Note 2)

See Accompanying Notes to these Consolidated Financial
 Statements (Unaudited).





                    PARADISE, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (UNAUDITED)
                ---------------------------------------

                                      FOR THE NINE MONTHS ENDED
                                      ------------------------
                                            SEPTEMBER 30,
                                            -------------
                                        2003             2002
                                        ----             ----
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net Income                       $    495,667     $  1,115,809
 Adjustments to Reconcile Net
  Income to Net Cash Used in
  Operating Activities:
   Depreciation and Amortization       575,841          693,208
   Decrease (Increase) in:
    Accounts Receivable            ( 3,640,886 )    ( 6,471,742 )
    Inventories                    ( 4,212,941 )    ( 5,528,853 )
    Prepaid Expenses               (   114,340 )    (   146,131 )
    Other Assets                   (    45,153 )         36,859
    Income Tax Receivable          (   210,630 )    (    74,323 )
   Increase (Decrease) in:
    Accounts Payable                 1,552,275          733,605
    Accrued Expense                (   439,865 )    (   293,961 )
    Income Taxes Payable               160,680          683,883
                                     ---------        ---------

     Net Cash Used in
      Operating Activities         ( 5,879,352 )    ( 9,251,646 )
                                     ---------        ---------

CASH FLOWS FROM INVESTING
 ACTIVITIES:
 Purchase of Property and
  Equipment                        (   363,122 )    (   445,029 )
                                     ---------        ---------

     Net Cash Used in
      Investing Activities         (   363,122 )    (   445,029 )
                                     ---------        ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
 Net Proceeds of (Repayments)
  Short-Term Debt                    5,647,925        7,468,959
 Principal Payments of Long-Term
  Debt                             (   145,181 )    (   142,888 )
 Dividends Paid                    (   181,772 )    (   181,772 )
                                     ---------        ---------

   Net Cash Provided by
    Financing Activities             5,320,972        7,144,299
                                     ---------        ---------

   Net Decrease in Cash            (   921,502 )    ( 2,552,376 )


CASH AT BEGINNING OF PERIOD          1,334,802        2,589,047
                                     ---------        ---------

CASH AT END OF PERIOD             $    413,300     $     36,671
                                     =========        =========

SUPPLEMENTAL CASH FLOW INFORMATION:
  Cash paid for:
    Interest                      $     84,551     $    134,539
                                     =========        =========

    Income Taxes                  $    262,500     $     19,000
                                     =========        =========



SUPPLEMENTAL SCHEDULE OF NONCASH
 INVESTING AND FINANCING ACTIVITIES:

  Long-Term Debt Incurred for:

    Equipment Purchases or
     Capital Leases                $    41,053     $     67,368
                                     =========        =========


See Accompanying Notes to these Consolidated Financial
 Statements (Unaudited).




                     PARADISE, INC. AND SUBSIDIARIES
                CONSOLIDATED NOTES TO 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 financials contained in the Company's Form 10-KSB for the
year ended December 31, 2002.  The Company's management believes that
the disclosures are sufficient for interim financial reporting purposes.


Note 2     Net Income per Share
--------------------------------------

Net income per share, assuming no dilution, are based on the
weighted average number of shares outstanding during the period: 519,350
(2003 and 2002).

The number of outstanding shares previously reported has been increased
by 373 shares to reflect the actual shares on record with the transfer
agent.  A prior period adjustment was made to increase common stock
reported at par value by $112 and decrease retained earnings by $112.


Note 3     Restatement
----------------------

The Company recorded a prior period adjustment to restate inventory.
The restatement corrects an error in the cost of an inventory item.  The
adjustment was recorded net of the income tax effect.  The adjustment
decreased retained earnings as previously reported at September 30, 2002
by $64,912.  For the period ended September 30, 2002, the adjustment
decreased inventory by $104,075 and increased deferred income tax asset
by $39,163.

Additionally, $2,166,730 previously reported as raw materials
inventories has been reclassified to finished goods for purposes of
comparability.


Note 4    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
----------------                            ---------

 Candied Fruit                  Production of candied fruit, a basic
                                fruitcake ingredient, sold to
                                manufacturing bakers, institutional
                                users, and retailers for use in home
                                baking.  Also for 2002, 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.


                                     Nine Months        Nine Months
                                        Ended              Ended
                                 September 30, 2003  September 30, 2002
                                 ------------------  ------------------

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

Candied Fruit:
 Sales to Unaffiliated Customers     $  9,431,309       $ 10,227,936

Molded Plastics:
 Sales to Unaffiliated Customers        3,599,667          3,735,899
                                       ----------         ----------

Net Sales                            $ 13,030,976       $ 13,963,835
                                       ==========         ==========

For the nine month period ended September 30, 2003 and 2002, sales of
frozen strawberry products totaled $602,825 and $80,894, 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.



                                     Nine Months         Nine Months
                                        Ended               Ended
                                 September 30, 2003   September 30, 2002
                                 ------------------   ------------------

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

Candied Fruit                       $ 18,867,934        $ 20,700,869

Molded Plastics                        3,166,893           3,371,499
                                      ----------          ----------

Identifiable Assets                   22,034,827          24,072,368

General Corporate Assets               3,575,913           3,319,250
                                      ----------          ----------

Total Assets                        $ 25,610,740        $ 27,391,618
                                      ==========          ==========


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' (candied) fruit, which
constituted over 79% of total net sales during 2002, is a prime
ingredient of fruitcakes and other holiday confections.  These products
are sold to manufacturing bakers, institutional users, supermarkets and
other retailers throughout the country.  Consumer demand for glace'
(candied) fruit products is traditionally strongest during the
Thanksgiving and Christmas season.  Evidence of this seasonality is
supported by the fact that almost 80% of glace' (candied) fruit product
sales are generated 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 analysis of annual net sales or profit levels cannot be
developed from anything other than the reporting 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 financial
performance due to year-to-year changes in production schedules, the
seasonal harvest 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, plastics molding is not subject to
the seasonality of our glace' (candied) 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 Nine Months
---------------------

Compared to the prior year's nine month reporting period, overall net
sales decreased by 6.7%.  The Company's fruit segment net sales,
excluding the sale of frozen strawberry products from year end
inventory, decreased by 13% compared to the prior reporting period.
Reasons for the decrease in glace' (candied) fruit net sales are
twofold.  First, with 80% of the Company's glace' (candied) fruit net
sales compressed into an eight to ten week period beginning in mid
September, and with shipping activity reaching as much as $1.8 million
for a single day, major fluctuations in revenue recognition can develop
on an interim reporting basis, especially during the last few days of
the third quarter and the first few days at the beginning of the fourth
quarter.  Some large customers may order deliveries in late September of
one year and early October the next, or vice versa.

Secondly, with the uncertainty surrounding the projected strength of the
current economic recovery, customers are being cautious as to the level
of inventory they are willing to purchase in advance of the traditional
selling season for glace' (candied) fruit products.  Thus, the strength
of customer reorders, which depend on store "sell throughs", occur just
prior to the traditional holiday season of Thanksgiving and Christmas,
will play an ever increasing role in determining the Company's annual
net sales results.

Plastics net sales, which are not subject to seasonal demands, decreased
by 3.6% compared to the prior year's nine month reporting period.  The
Company switched its focus from the sales of higher volume, lower margin
generic items several years ago to higher technology, value-added custom
molding products.  Management is confident this change in focus will
continue over the long term to have a positive influence on the
Company's financial performance.  Plastics segment net sales accounted
for 28% of overall Company net sales compared to 27% for the prior
year's nine month reporting period.  In addition, management continues
to explore the possible acquisition of plastics company(s) that will
provide a platform for future growth and business development for the
Company's injection molding and thermoforming operations.

Cost of goods sold expressed as a percentage of net sales increased by
6.5% compared to the prior year's nine month reporting period.  This
increase is also traced to the timing of receipt and shipment of
customer orders between reporting periods.  With the need to quickly
respond to customers' seasonal demand for glace' (candied) fruit
products, Paradise, Inc. must incur significant manufacturing expenses
during the peak production months of April through September.  During
this period, the Company will incur 80-85% of its annual production cost
associated with its glace' (candied) fruit line.  Without the ability to
offset these expenses with revenue until customer orders are received
and shipped, fluctuations in the cost of goods sold as a percentage of
sales will occur on an interim reporting basis.  There were also some
additional costs in conjunction with package redesign and the creation
of a redeemable coupon application.

Selling, general and administrative expense increased by only 1%
compared to the prior reporting period as increases in professional
services and pension related cost were offset by decreases in
administrative payroll.  In addition, as previously disclosed, the
implementation of Paradise, Inc.'s newly developed marketing campaign
contributed to increased selling expenses.  Paradise, Inc.'s glace'
(candied) fruit products will now offer discount coupons redeemable for
the purchase of additional merchandise.  While only consumer demand for
Paradise, Inc.'s glace' (candied) fruit products will determine the
Company's redemption expense, management anticipates the new marketing
campaign will have a positive impact on net sales.

Depreciation expense decreased by 17% compared to the prior year's
reporting period as retirements from fixed assets exceeded new
acquisitions over this time period.

Short-term borrowing cost decreased by 37% compared to the prior year's
reporting period as the Company continues to benefit from reductions in
the rate of interest charged by its primary lending institution, as well
as smaller borrowing needs as a result of improving cash and cash flows
during the past few years.



Summary
-------

Excluding the sales of frozen strawberry products from year end
inventory, net fruit sales declined by 13% compared to the prior year's
nine month reporting period.  In addition, cost of goods sold as a
percentage of sales increased by 6.5% compared to the prior reporting
period.  As mentioned above, timing differences as little as one day in
receipt and shipment of customer orders will have a significant impact
on the Company's interim financial results.  Furthermore, without the
ability to forecast the strength of the current economic recovery,
management cannot predict with any degree of certainty year end
profitability.  Thus, as disclosed in numerous filings in the past, the
only meaningful evaluation of the Company's financial performance is to
wait until a full year's accounting is available.



ITEM 3.  CONTROLS AND PROCEDURES

The principal executive officer and principal financial officer of the
Company have, within 90 days of the filing date of this quarterly
report, evaluated the effectiveness of the Company's disclosure controls
and procedures (as defined in Exchange Act Rules (13a-14(c) and (15d-
14(c)) and have determined that such disclosure controls and procedures
are adequate.  There have been no significant changes in the Company's
internal controls or in other factors that could significantly affect
the Company's internal controls since the date of evaluation.  The
Company does not believe any significant deficiencies or material
weaknesses exist in the Company's internal controls.  Accordingly, no
corrective actions have been 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

            None.

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:  November 13, 2003
                  -----------------------------
                  Melvin S. Gordon
                  Chief Executive Officer and Chairman


                  /s/ Jack M. Laskowitz         Date:  November 13, 2003
                  -----------------------------
                  Jack M. Laskowitz
                  Chief Financial Officer and Treasurer