<PAGE>


                          SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C. 20549
                                           
                                      FORM 10-Q
                      QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934
                                           
                                      (Mark One)
      [ X ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                                 EXCHANGE ACT OF 1934
                  FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1997
                                           
                                          OR
      [   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                                 EXCHANGE ACT OF 1934
                                           
      For the transition period from __________________ to _____________________
                                           
                           Commission file number 000-21561
                                           
                          MIAMI COMPUTER SUPPLY CORPORATION
       (Exact name of registrant as specified in its articles of incorporation)



                        OHIO                               31-1001529
           (State or other jurisdiction of              (I.R.S. Employer
            incorporation or organization)             Identification No.)

                   4750 HEMPSTEAD STATION DRIVE, DAYTON, OHIO 45429
                       (Address of principal executive offices)
                                           
                                    (937) 291-8282
                 (Registrant's telephone number, including area code)
                                           
       Indicate by check whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15 (d) of the Securities 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) had been 
subject to such filing requirements for the past 90 days.

                                   Yes   X      No_____

       At September 30, 1997, 3,929,109 shares of common stock, no par 
value per share, of the registrant were outstanding.


<PAGE>


                           MIAMI COMPUTER SUPPLY CORPORATION
                                           
                                      FORM 10-Q
                           QUARTER ENDED SEPTEMBER 30, 1997
                                           
                                        INDEX


     PART I - FINANCIAL INFORMATION                                      PAGE
     Item 1.  Financial Statements:
       Consolidated Statement of Operations . . . . . . . . . . . .        3
       Consolidated Balance Sheet . . . . . . . . . . . . . . . . .        4
       Consolidated Statement of Cash Flows . . . . . . . . . . . .        5
       Notes to Consolidated Financial Statements . . . . . . . . .        6

     Item 2.  Management's Discussion and Analysis of 
      Results of Operations and Financial Condition . . . . . . . .      6-9

     PART II - OTHER INFORMATION
     Item 1.  Legal Proceedings . . . . . . . . . . . . . . . . . .       10
     Item 2.  Changes in Securities . . . . . . . . . . . . . . . .       10
     Item 3.  Default Upon Senior Securities. . . . . . . . . . . .       10
     Item 4.  Submission of Matters to a Vote of Security Holders .       10
     Item 5.  Other Information . . . . . . . . . . . . . . . . . .       10
     Item 6.  Exhibits and Reports on Form 8-K. . . . . . . . . . .       10
     Signatures. . . . . . . . . . . . . . . . . . . . . . . . . . .      11






                                      2
<PAGE>

                            PART I - FINANCIAL INFORMATION
                                           
ITEM 1.  FINANCIAL STATEMENTS

                          MIAMI COMPUTER SUPPLY CORPORATION
                                           
                         CONSOLIDATED STATEMENT OF OPERATIONS
                                     (UNAUDITED)

<TABLE>
<CAPTION>


                                                                               QUARTER ENDED               NINE MONTHS ENDED
                                                                                SEPTEMBER 30                  SEPTEMBER 30,        
                                                                                ------------                  ------------- 
                                                                             1997           1996           1997          1996  
                                                                             ----           ----           ----          ----
<S>                                                                   <C>            <C>            <C>            <C>  
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . .       $ 29,001,730   $ 17,822,544   $ 71,351,489   $ 44,070,003
Operating costs:
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . .         23,608,006     14,781,598     58,616,014     35,943,434
Selling, general and administrative
    expenses. . . . . . . . . . . . . . . . . . . . . . . . . . .          4,364,419      2,307,844     10,121,730      6,341,282
                                                                      --------------   ------------   ------------   ------------
     Total operating costs. . . . . . . . . . . . . . . . . . . .         27,972,425     17,089,442     68,737,744     42,284,716
                                                                      --------------   ------------   ------------   ------------

Operating income. . . . . . . . . . . . . . . . . . . . . . . . .          1,029,305        733,102      2,613,745      1,785,287
Interest expense. . . . . . . . . . . . . . . . . . . . . . . . .            (51,385)      (100,588)       (75,969)      (243,175)  
Other income. . . . . . . . . . . . . . . . . . . . . . . . . . .              2,328          6,884         28,921         17,998
                                                                      --------------   ------------   ------------   ------------

Income before income taxes. . . . . . . . . . . . . . . . . . . .            980,248        639,398      2,566,697      1,560,110
Provision for income taxes. . . . . . . . . . . . . . . . . . . .            406,803        265,352      1,049,315        647,431
                                                                      --------------   ------------   ------------   ------------

Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . .         $  573,445     $  374,046   $  1,517,382     $  912,679
                                                                      --------------   ------------   ------------   ------------
                                                                      --------------   ------------   ------------   ------------

Earnings per share of common stock. . . . . . . . . . . . . . . .            $  0.15        $  0.16        $  0.41        $  0.38
                                                                      --------------   ------------   ------------   ------------
                                                                      --------------   ------------   ------------   ------------
Weighted average number of common
  shares outstanding. . . . . . . . . . . . . . . . . . . . . . .          3,928,718      2,388,000      3,693,573      2,388,000
                                                                      --------------   ------------   ------------   ------------
                                                                      --------------   ------------   ------------   ------------


                       The accompanying notes are an integral part of these consolidated financial statements.

</TABLE>



  
                                                           3
<PAGE>
                                                                  
                                            MIAMI COMPUTER SUPPLY CORPORATION
                                                                  
                                               CONSOLIDATED BALANCE SHEET
                                                              (UNAUDITED)
<TABLE>
<CAPTION>
                                                                     SEPTEMBER 30,       DECEMBER 31,
                                                                         1997                1996
                                                                         ----                ----
<S>                                                                 <C>                <C>
Assets
Current assets:
  Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $   166,971         $  780,875
  Accounts receivable . . . . . . . . . . . . . . . . . . . . . . .   14,679,440          8,636,657
  Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . .    8,210,256          5,894,838
  Prepaid expenses. . . . . . . . . . . . . . . . . . . . . . . . .      182,037            431,946
                                                                      ----------         ----------

     Total current assets . . . . . . . . . . . . . . . . . . . . .   23,238,704         15,744,316
                                                                      ----------         ----------

Property and equipment - net of accumulated
  depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . .    1,495,076          1,016,164
                                                                      ----------         ----------
Other assets:
  Deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . .       53,972             28,302
  Cash surrender value officers' life insurance. . . . . . . . . .       711,986            571,986
  Intangible assets . . . . . . . . . . . . . . . . . . . . . . . .    5,733,128            414,440
                                                                      ----------         ----------
Total other assets . . . . . . . . . . . . . . . . . . . . . . . .     6,499,086          1,014,728
                                                                      ----------         ----------
     Total assets. . . . . . . . . . . . . . . . . . . . . . . . .   $31,232,866        $17,775,208
                                                                      ----------         ----------
                                                                      ----------         ----------
Liabilities and Stockholders' Equity
Current Liabilities:
  Line-of-credit . . . . . . . . . . . . . . . . . . . . . . . . .   $ 3,553,440        $         0
  Accounts payable - trade . . . . . . . . . . . . . . . . . . . .     8,372,827          4,308,785
  Accrued expenses, taxes and withholdings . . . . . . . . . . . .     1,382,693          1,188,708
  Current portion of long-term debt. . . . . . . . . . . . . . . .        58,684             35,567
                                                                      ----------         ----------
     Total current liabilities . . . . . . . . . . . . . . . . . .    13,367,644          5,533,060
  Other long-term liabilities. . . . . . . . . . . . . . . . . . .       171,165            169,105
                                                                      ----------         ----------
     Total liabilities . . . . . . . . . . . . . . . . . . . . . .    13,538,809          5,702,165
                                                                      ----------         ----------
Stockholders' equity:
  Preferred Stock, no par value, 5,000,000 shares
       authorized; none outstanding at September 30, 1997   
       and December 31, 1996 . . . . . . . . . . . . . . . . . . .             0                  0
  Common stock, no par value;  30,000,000 shares
       authorized, 3,929,109 shares outstanding at 
        September 30, 1997; 3,538,000 shares outstanding at
         December 31, 1996 . . . . . . . . . . . . . . . . . . . .             0                  0
       Additional paid-in capital. . . . . . . . . . . . . . . . .    12,452,881          8,349,249
       Retained earnings . . . . . . . . . . . . . . . . . . . . .     5,256,176          3,738,794
                                                                      ----------          ---------
                                                                      17,709,057         12,088,043
      Less - Treasury common stock, at cost 1,200 shares . . . . .        15,000             15,000
                                                                      ----------         ----------

        Total stockholders' equity . . . . . . . . . . . . . . . .    17,694,057         12,073,043
                                                                      ----------         ----------

        Total liabilities and stockholders' equity . . . . . . . .   $31,232,866        $17,775,208
                                                                      ----------         ----------
                                                                      ----------         ----------

           The accompanying notes are an integral part of these consolidated financial statements.

</TABLE>

                                                               4
<PAGE>                                                                  

                                              MIAMI COMPUTER SUPPLY CORPORATION
                                                                  
                                            CONSOLIDATED STATEMENT OF CASH FLOWS
                                                         (UNAUDITED)
                                                                  
<TABLE>
<CAPTION>


                                                                                     
                                                                                   NINE MONTHS ENDED
                                                                                      SEPTEMBER 30,  
                                                                                      -------------
                                                                 
                                                                                     
                                                                                   1997            1996
                                                                                   ----            ----
<S>                                                                          <C>              <C>
Cash flows (used in) provided by operating activities:
  Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $ 1,517,382      $ 912,679
  Adjustments to reconcile net income to cash (used in)
        provided by operating activities:
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . .      278,739        219,744
 Changes in assets and liabilities net of effects of acquisitions
           of businesses:
    Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . .   (3,813,480)      (904,514)
    Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   (1,548,632)    (1,249,195)
    Prepaid expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . .      265,809       (556,328)
    Deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      (14,449)        37,677
    Accounts payable - trade  . . . . . . . . . . . . . . . . . . . . . . . .    2,384,705        489,833
    Accrued expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . .     (261,157)       129,183
    Accrued income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . .      102,760       (122,978)
                                                                                ----------     ----------

    Cash used in operating activities . . . . . . . . . . . . . . . . . . . .   (1,088,323)    (1,043,899)
                                                                                ----------     ----------

Cash flows from investing activities:
  Capital expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . .     (427,541)      (137,275)
  Investment in cash surrender value officers' life insurance . . . . . . . .     (140,000)      (143,141)
  Business combinations . . . . . . . . . . . . . . . . . . . . . . . . . . .   (2,485,000)             0
  Cash included in acquisitions . . . . . . . . . . . . . . . . . . . . . . .       83,657        109,467
                                                                                ----------     ----------

 Cash (used in) provided by investing activities. . . . . . . . . . . . . . .   (2,968,884)      (170,949)
                                                                                ----------     ----------

Cash flows from financing activities:
  Borrowings under line-of-credit . . . . . . . . . . . . . . . . . . . . . .    9,870,260      9,565,985
  Payments under line-of-credit . . . . . . . . . . . . . . . . . . . . . . .   (6,316,820)    (7,972,653)
  Principal payments on long-term debt. . . . . . . . . . . . . . . . . . . .      (27,238)        (8,008)
  Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      (82,899)       (90,360)
                                                                                ----------     ----------

    Cash provided by financing activities . . . . . . . . . . . . . . . . . .    3,443,303      1,494,964
                                                                                ----------     ----------

Net (decrease) increase in cash . . . . . . . . . . . . . . . . . . . . . . .     (613,904)       280,116
  Cash - Beginning of period. . . . . . . . . . . . . . . . . . . . . . . . .      780,875          1,900
                                                                                ----------     ----------

  Cash - End of period. . . . . . . . . . . . . . . . . . . . . . . . . . . .   $  166,971     $  282,016
                                                                                ----------     ----------
                                                                                ----------     ----------

Supplemental cash flow information:
  Cash paid for interest. . . . . . . . . . . . . . . . . . . . . . . . . . .   $   76,456     $  265,273
  Cash paid for income taxes. . . . . . . . . . . . . . . . . . . . . . . . .   $  935,358     $  839,765

     The accompanying notes are an integral part of these consolidated financial statements.

</TABLE>



                                               5
<PAGE>                                    

                          MIAMI COMPUTER SUPPLY CORPORATION
                                           
                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                      (UNAUDITED)
                                           
NOTE 1 - GENERAL

The accompanying unaudited consolidated financial statements have been 
prepared in accordance with Rule 10-01 of SEC Regulation S-X.  Consequently, 
they do not include all the disclosures required under generally accepted 
accounting principles for complete financial statements.  However, in the 
opinion of the management of Miami Computer Supply Corporation (the 
"Company"), the consolidated financial statements presented herein contain 
all adjustments (consisting only of normal recurring adjustments) necessary 
to present fairly the financial position, results of operations and cash 
flows of the Company and its consolidated subsidiaries.  For further 
information regarding the Company's accounting policies and the basis of 
presentation of the financial statements, refer to the consolidated financial 
statements and notes included in the Company's Annual Report on Form 10-K for 
the year ended December 31, 1996.

NOTE 2 - ORGANIZATION

The Company sells a wide variety of computer supplies to corporate customers, 
governmental agencies, universities, hospitals and, to a lesser extent, 
computer supply dealers.  Its primary sales products include laser toner, ink 
jet cartridges, printer ribbons, computer tape cartridges, diskettes, 
presentation products, paper supplies and printer cartridges.

NOTE 3 - ACQUISITIONS 

Effective May 30, 1996, Pittsburgh Investment Group, LLC ("LLC") contributed 
its stock in Diversified Data Products, Inc. ("DDP") to the Company. The 
acquisition has been accounted for using the purchase method of accounting, 
and accordingly, the purchase price has been allocated based upon the 
estimated fair values of the assets acquired and the liabilities assumed as 
of May 30, 1996.

In connection with the acquisition of DDP, LLC issued a loan to certain 
former stockholders in an amount of $250,000.  This amount was subject to 
repayment based upon DDP generating specified income levels for the period 
May 30, 1996 to December 31, 1996.  DDP generated such income levels for this 
period, and accordingly the loan was forgiven.  The value of the net assets 
acquired has been adjusted to reflect this additional consideration.

The operating results of DDP have been included in the statement of 
operations from the date of acquisition. The following unaudited pro forma 
information has been prepared assuming that this acquisition had taken place 
at (the beginning of the respective period ended January 1, 1996). This pro 
forma financial information is presented for informational purposes only and 
may not be indicative of what the actual results of operations might have 
been if the acquisition had been effective at the beginning of 1996.

                                         Nine Months Ended
                                         September 30, 1996                    
                                         ------------------
       Net sales . . . . . . . . . . . . $     49,433,272
       Net income. . . . . . . . . . . . $        927,436
       Earnings per share. . . . . . . . $           0.39

On April 30, 1997 the Company acquired Imperial Data Supply Corporation 
("IDS") headquartered in Spokane, Washington with offices in Idaho and 
Montana.  On July 1, 1997 the Company acquired Data Associates, Inc. ("DA") 
headquartered in Roswell, Georgia with offices in Florida, North Carolina and 
South Carolina.  On July 15, 1997 the Company acquired Force 4 D.P. Supplies, 
Inc. ("Force 4") headquartered in Portland, Oregon with offices in Illinois, 
Washington and Utah. On October 7, 1997 the Company acquired NTI Data 
Products ("NTI") headquartered in Manchester, New Hampshire and one sales 
office in Portsmouth, New Hampshire.  The impact of these acquisitions are 
not material to the Company's financial statements.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND 
FINANCIAL CONDITION

The following discussion should be read in conjunction with the information
contained in the unaudited Consolidated Financial Statements and Notes to
Consolidated Financial Statements. The following information contains
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Act") and is subject to the safe harbor
created by that Act. The words "estimate," "project," "anticipate," "expect,"
"intend," "believe," "plans" and similar expressions are intended to identify
forward-looking statements. Because such forward-looking statements involve
risks and uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements. Factors that could 




                                      6
<PAGE>

cause actual results to differ materially include, but are not limited to, 
changes in general economic and business conditions, the availability of 
capital on acceptable terms, actions of competitors, and changes in business 
strategies and other factors as discussed in Exhibit 99.

The Company has completed four acquisitions the ("Acquisitions") of computer 
supply and office automation dealers in 1997 as follows:

1.    On April 30, 1997 the Company acquired IDS headquartered in Spokane, 
Washington with offices in Idaho and Montana.  IDS's approximated annualized 
revenues as of the closing date were $7 million.

2.    On July 1, 1997 the Company acquired DA headquartered in Roswell, 
Georgia with offices in Florida, North Carolina and South Carolina.  DA's 
approximate annualized revenues as of the closing date were $9 million.

3.    On July 15, 1997 the Company acquired Force 4 headquartered in 
Portland, Oregon with offices in Illinois, Washington and Utah.  Force 4's 
approximate annualized revenues as of the closing date were $14 million.

4.    On October 7, 1997 the Company acquired NTI headquartered in 
Manchester, New Hampshire with one sales office in Portsmouth, New Hampshire. 
NTI's approximate annualized revenues as of the closing date were $6 million.

The Company intends to continue its aggressive acquisition strategy of 
entering new markets domestically and internationally on an opportunistic 
basis, to acquire computer and office automation supply distribution 
companies and to hire certain experienced sales representatives in and 
outside of the Company's current market areas, some of whom may be 
constrained from working in their present locations for a period of time.  
The Company actively continues to evaluate other potential acquisitions and 
to identify and have preliminary discussions and negotiations with potential 
acquisition candidates. There can be no assurance that any acquisition can or 
will be consummated on terms favorable to the Company.

THREE MONTHS ENDED SEPTEMBER 30, 1997 COMPARED TO THREE MONTHS ENDED 
SEPTEMBER 30, 1996

NET SALES. Net sales for the three months ended September 30, 1997 increased 
by $11.2 million, or 62.7%, to $29.0 million from $17.8 million for the three 
months ended September 30, 1996.  Of the increase 24.3% was primarily a 
result of increased sales to the Company's current customer base and 38.4% of 
the increase resulted from the Acquisitions.

GROSS PROFIT. Gross profit for the three months ended September 30, 1997 
increased by $2.4 million, or 77.4% to $5.4 million from $3.0 million for the 
three months ended September 30, 1996.  Gross profit as a percentage of net 
sales for the three months ended September 30, 1997 was 18.6% compared to 
17.1% for the three months ended September 30, 1996. The increase in the 
gross profit percentage was due primarily to the results of the companies 
acquired in the Acquisitions, which historically have had higher operating 
gross margins.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES.  Selling, general and 
administrative expenses for the three months ended September 30, 1997 
increased by $2.1 million, or 89.1% to $4.4 million from $2.3 million for the 
three months ended September 30, 1996.  Approximately 14.7% of the increase 
resulted from increased salary expenses, while 15.2% was due to increased 
commission expense resulting from the Company's increased sales volume. The 
remainder of the increase in selling, general and administrative expenses 
resulted primarily from the acquisition of IDS, Force 4 and DA.  As a 
percentage of net sales, selling, general and administrative expenses were 
15.0% for the three months ended September 30, 1997 compared to 12.9% for the 
three months ended September 30, 1996. This increase as a percentage of sales 
relates primarily from the results of the companies acquired in the 
Acquisitions, which historically have had a higher selling, general and 
administrative expense percentage, although maintaining a higher gross profit
percentage.

OPERATING INCOME. Operating income for the three months ended September 30, 
1997 increased by $.3 million to $1.0 million from $.7 million for the three 
months ended September 30, 1996 for the reasons stated above.

INTEREST EXPENSE. Interest expense for the three months ended September 30, 
1997 decreased by $49,203 or 48.9% to $51,385 from $100,588 for the three 
months ended September 30, 1996 due primarily to the decreased level of 
average indebtedness during 1997.

PROVISION FOR INCOME TAXES. The provision for income taxes for the three 
months ended September 30, 1997 increased $141,451 to $406,803 from $265,352 
for the three months ended September 30, 1996.  The Company's effective tax 
rate was 41.5% for the three months ended September 30, 1997 and for the 
corresponding period of the prior year.





                                      7
<PAGE>

NINE MONTHS ENDED SEPTEMBER 30, 1997 COMPARED TO NINE MONTHS ENDED SEPTEMBER 
30, 1996

NET SALES. Net sales for the nine months ended September 30, 1997 increased 
by $27.3 million, or 61.9%, to $71.4 million from $44.1 million for the nine 
months ended September 30, 1996.  Approximately 51.5% of the increase 
resulted from the acquisition of DDP on May 30, 1996 and 28.7% of such 
increase was due to the acquisition of IDS on April 30, 1997, the acquisition 
of DA on July 1, 1997 and the acquisition of Force 4 on July 15, 1997.  The 
remaining increase was primarily a result of increased sales to the Company's 
current customer base.

GROSS PROFIT. Gross profit for the nine months ended September 30, 1997 
increased by $4.6 million, or 56.7% to $12.7 million from $8.1 million for the 
nine months ended September 30, 1996.  Gross profit as a percentage of net 
sales for the nine months ended September 30, 1997 was 17.8% compared to 
18.4% for the nine months ended September 30, 1996. The decrease in the gross 
profit percentage was due primarily to the acquisition of DDP which has lower 
operating gross margins primarily due to volume discounts associated with 
sales to other computer supply dealers.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES.  Selling, general and 
administrative expenses for the nine months ended September 30, 1997 
increased by $3.8 million, or 59.6% to $10.1 million from $6.3 million for the
nine months ended September 30, 1996.  Approximately 53.7% of the increase 
resulted from increased salary expenses, while 10.8% was due to increased 
commission expense resulting from the Company's increased sales volume. The 
remainder of the increase in selling, general and administrative expenses 
resulted primarily from the acquisitions of DDP, IDS, Force 4 and DA.   As a 
percentage of net sales, selling, general and administrative expenses were 
14.2% for the nine months ended September 30, 1997 compared to 14.4% for the 
nine months ended September 30, 1996.

OPERATING INCOME. Operating income for the nine months ended September 30, 
1997 increased by $.8 million to $2.6 million from $1.8 million for the nine 
months ended September 30, 1996 for the reasons stated above.

INTEREST EXPENSE. Interest expense for the nine months ended September 30, 
1997 decreased by $167,206 or 68.8% to $75,969 from $243,175 for the nine 
months ended September 30, 1996 due primarily to the decreased level of 
average indebtedness during 1997.

PROVISION FOR INCOME TAXES. The provision for income taxes for the nine 
months ended September 30, 1997 increased $.4 million to $1.0 million from 
$.6 million for the nine months ended September 30, 1996.  The Company's 
effective tax rate was 40.9% for the nine months ended September 30, 1997 as 
compared to 41.5% for the corresponding period of the prior year.

LIQUIDITY AND CAPITAL RESOURCES

Net cash flows used in operating activities totaled $1.1 million for the 
first nine months of 1997 compared to $1.0 million used by operating 
activities during the first nine months of 1996. The change in net cash flows 
from operating activities in the first nine months of 1997, compared to the 
first nine months of 1996, was due primarily to an increase in accounts 
payable offset by an increase in inventories and an increase in accounts 
receivable.  Working capital approximated $9.9 million at September 30, 1997 
and $10.2 million at December 31, 1996.

Net cash used in investing activities was $3.0 million for the nine months 
ended September 30, 1997 versus $.2 million cash used by investing activities 
for the nine months ended September 30, 1996.  The net cash used in investing 
activities primarily reflects the acquisitions of IDS, DA and Force 4.  Net 
cash used by financing activities totaled $3.4 million for the nine months 
ended September 30, 1997 compared with $1.5 million for the nine months ended 
September 30, 1996. This increase was due primarily to increased borrowing 
levels under the Credit Facility.

Capital expenditures for the nine months ended September 30, 1997 of $427,541 
were used primarily to integrate the Acquisitions into the Company's 
management information systems. 

The Company believes that its cash on hand, borrowing capacity under the 
Credit Facility, capital resources and cash flows will be sufficient to fund 
its ongoing operations and budgeted capital expenditures for the remainder of 
1997, although actual capital needs may change, particularly in connection 
with acquisitions which the Company may make in the future. The Company's 
long-term requirements including capital expenditures and acquisitions, are 
expected to be financed by a combination of internally generated funds, 
additional borrowings and other sources of external financing as needed.





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<PAGE>

CREDIT FACILITY

On September 11, 1996, the Company increased the amount of its line-of-credit 
with National City Bank of Dayton, Ohio (the "Bank") from $6,500,000 to 
$15,000,000 in order to facilitate the planned expansion of the Company's 
business activities, including acquisitions. The amount of the Credit 
Facility that will be available to the Company may not exceed the lesser of 
$15.0 million or an amount equal to the sum of: (i) 85.0% of the net book 
value of all eligible receivables (i.e., those receivables less than 90 days 
old, except that all receivables from any particular customer will be 
ineligible if more than 15.0% of the total due from such customer are aged 90 
days or more) plus (ii) an amount equal to the lesser of either 50.0% of the 
value of all inventory, not to exceed 45.0% of the aggregate unpaid principal 
balance less the amount secured by inventory acquired by the Company from 
Hewlett-Packard Company and not yet paid for, or if advances are made against 
foreign accounts receivables, not to exceed $2.0 million (the "Borrowing 
Base"). Under the Credit Facility, the Company's borrowing availability at 
September 30, 1997 approximated $11.4 million. At September 30, 1997, $3.6 
million was outstanding under the Credit Facility.

The Borrowing Base may be changed by the Bank, in its sole discretion, from 
time to time. Borrowings under the Credit Facility bear interest, at the 
Company's option, (i) on amounts in excess of $500,000, at the applicable 
London Interbank Offered Rate ("LIBOR") per annum determined by the Bank plus 
2.0%, adjustable at the end of each contract period (one, two, three, four or 
six months), as defined in the Credit Facility, or (ii) at the Bank's 
applicable prime rate (as defined in the Credit Facility). Interest on the 
Credit Facility is payable in arrears on the last day of each month and at 
maturity, except that interest on loans bearing interest utilizing the LIBOR 
option is payable on the last day of the contract period and at maturity, 
unless the contract period is longer than 90 days in which case interest is 
payable every three months.

The indebtedness under the Credit Facility is secured by substantially all of 
the assets of the Company, including accounts receivable, equipment and 
inventory. In addition, the Credit Facility requires that the Company 
maintain a tangible net worth of $3.2 million in 1997 and thereafter 
increasing by an amount equal to 50.0% of the Company's net income annually 
thereafter, maintain a debt to tangible net worth ratio of 450.0% and annual 
pre-tax interest coverage (net income plus interest expense plus income tax) 
of 150.0% or more of the Company's annual interest expense. The Company was, 
at September 30, 1997 and is as of the date hereof, in compliance with these 
financial covenants.





                                      9
<PAGE>
                              PART II-OTHER INFORMATION
                                           
ITEM 1.  LEGAL PROCEEDINGS

         On August 26, 1997, Corporate Express of the South, Inc ("CES") 
filed suit in the Superior Court for Guilford County, North Carolina, against 
the Company and two of its salespersons alleging, among other things, that 
the salespersons breached their agreements not to compete with CES and that 
the Company intentionally induced the salespersons not to honor their 
covenants not to compete.  The Company believes that resolution of the suit, 
which seeks injunctive relief against the salespersons and unspecified 
damages from the Company, will not have a material adverse impact on the 
financial condition of the Company.  The Company intends to vigorously defend 
itself against the suit.

Other than the proceeding described above the Company was not involved in any
legal proceedings incidental to the conduct of its business as of the date
hereof.  The Company maintains general liability and business interruption
insurance coverage in amounts which it believes to be adequate.

ITEM 2.  CHANGES IN SECURITIES
     Not applicable.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
     Not applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
     Not applicable. 

ITEM 5.  OTHER INFORMATION
     Not applicable.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)   Exhibits

      27 Financial Data Schedule

      99 Safe Harbor Under the Private Securities Litigation Reform Act of 1995

(b)   Reports on Form 8-K

      There were no reports on Form 8-K filed for the quarter ended 
September 30, 1997.

                                      10
<PAGE>

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.

                          MIAMI COMPUTER SUPPLY CORPORATION
                                     (Registrant)
                                           

Date:  November 14, 1997
            By:/s/ Michael E. Peppel
                   Michael E. Peppel
                   Vice President - Chief Financial Officer









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