<PAGE> 1
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                United States Securities and Exchange Commission
                            Washington, D.C. 20549
            --------------------------------------------------------

                                  FORM 10-Q
(Mark One)


           [ x ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

           For the quarterly period ended December 31, 2003

                                      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 0-23898
            --------------------------------------------------------


                             MITY ENTERPRISES, INC.
            (Exact name of registrant as specified in its charter)

               UTAH                                            87-0448892
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                            Identification No.)

                             1301 WEST 400 NORTH
                               OREM, UTAH 84057
                   (Address of principal executive offices)

                  Registrant's telephone number:  (801) 224-0589

                                     N/A
  (Former name, former address and former fiscal year, if changed since last
                                   report)
            --------------------------------------------------------

     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 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        No   x

     Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act).  Yes        No   x

     There were 4,199,061 shares of the registrant's Common Stock, par value
$.01 per share, outstanding on January 26, 2004.

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<PAGE> 2
                         PART I:  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS
                             MITY ENTERPRISES, INC.
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                                  (unaudited)
                                                 DECEMBER 31,      MARCH 31,
                                                    2003             2003
ASSETS                                           -----------      -----------
Current assets:
  Cash and cash equivalents. . . . . . . . . .   $ 4,790,000      $ 2,203,000
  Available-for-sale securities. . . . . . . .     1,400,000        2,336,000
  Accounts receivable, less allowances of
    $347,000 at December 31, 2003 and
    $235,000 at March 31, 2003 . . . . . . . .     5,213,000        3,792,000
  Inventories. . . . . . . . . . . . . . . . .     2,262,000        1,368,000
  Tax receivable . . . . . . . . . . . . . . .       665,000        1,284,000
  Prepaid expenses and other current assets. .       536,000          274,000
  Deferred income taxes, current . . . . . . .       593,000          635,000
                                                 -----------      -----------
Total current assets . . . . . . . . . . . . .    15,459,000       11,892,000
Property and equipment, net. . . . . . . . . .    13,219,000       11,656,000
Deferred income taxes. . . . . . . . . . . . .       219,000          376,000
Goodwill . . . . . . . . . . . . . . . . . . .     1,148,000        1,010,000
Notes receivable, net. . . . . . . . . . . . .        85,000          204,000
Other intangible assets. . . . . . . . . . . .       264,000          264,000
                                                 -----------      -----------
Total assets . . . . . . . . . . . . . . . . .   $30,394,000      $25,402,000
                                                 ===========      ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable . . . . . . . . . . . . . .   $ 1,624,000        2,184,000
  Accrued expenses and other current
    liabilities. . . . . . . . . . . . . . . .     2,438,000        1,639,000
                                                 -----------      -----------
Total current liabilities. . . . . . . . . . .     4,062,000        3,823,000
Minority interest. . . . . . . . . . . . . . .       132,000          125,000
                                                 -----------      -----------
Total liabilities. . . . . . . . . . . . . . .     4,194,000        3,948,000

Commitments and contingencies. . . . . . . . .          --               --
Stockholders' equity:
    Preferred stock, par value $.10 per
      share; authorized 3,000,000 shares; no
      shares issued and outstanding. . . . . .          --               --
    Common stock, par value $.01 per share;
      authorized 10,000,000 shares; issued
      and outstanding 4,196,022 at December 31,
      2003 and 4,115,181 at March 31, 2003 . .        42,000           41,000
    Additional paid-in capital . . . . . . . .    10,875,000        9,925,000
    Retained earnings. . . . . . . . . . . . .    14,826,000       11,376,000
    Accumulated other comprehensive income . .       457,000          112,000
                                                 -----------      -----------
  Total stockholders' equity . . . . . . . . .    26,200,000       21,454,000
                                                 -----------      -----------
Total liabilities and stockholders' equity . .   $30,394,000      $25,402,000
                                                 ===========      ===========
         See accompanying notes to unaudited condensed consolidated
                            financial statements.
<PAGE> 3
                              MITY ENTERPRISES, INC.
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                  (unaudited)
                                                  THREE MONTHS ENDED DEC. 31,
                                                      2003           2002
                                                  ------------   ------------
Net sales . . . . . . . . . . . . . . . . . . . .  $10,976,000    $10,375,000
Cost of products sold . . . . . . . . . . . . . .    6,764,000      6,132,000
                                                  ------------   ------------
Gross profit. . . . . . . . . . . . . . . . . . .    4,212,000      4,243,000
Expenses:
  Selling . . . . . . . . . . . . . . . . . . . .    1,689,000      1,599,000
  General and administrative. . . . . . . . . . .      336,000        603,000
  Research and development. . . . . . . . . . . .      329,000        414,000
                                                  ------------   ------------
Total expenses. . . . . . . . . . . . . . . . . .    2,354,000      2,616,000
                                                  ------------   ------------
Income from operations. . . . . . . . . . . . . .    1,858,000      1,627,000
Other income (expense)
  Interest income . . . . . . . . . . . . . . . .       19,000         19,000
  Other . . . . . . . . . . . . . . . . . . . . .      (41,000)       (19,000)
                                                  ------------   ------------
Total other income (expense), net . . . . . . . .      (22,000)          --
                                                  ------------   ------------
Income before provision for income taxes and
  minority interest . . . . . . . . . . . . . . .    1,836,000      1,627,000
Provision for income taxes. . . . . . . . . . . .      649,000        623,000
                                                  ------------   ------------
Net income before minority interest . . . . . . .    1,187,000      1,004,000
Minority interest . . . . . . . . . . . . . . . .      (41,000)          --
                                                  ------------   ------------
Net income from continuing operations . . . . . .    1,146,000      1,004,000
Discontinued operations:
 Gain on disposal (net of applicable
    income taxes of $457,000) . . . . . . . . . .         --          745,000
                                                  ------------   ------------
Net income. . . . . . . . . . . . . . . . . . . .  $ 1,146,000    $ 1,749,000
                                                  ============   ============
Basic earnings per share from continuing
    operations. . . . . . . . . . . . . . . . . .  $      0.28    $      0.24
Basic earnings per share on disposal of
    discontinued operations . . . . . . . . . . .         --             0.18
                                                  ------------   ------------
Basic earnings per share. . . . . . . . . . . . .  $      0.28    $      0.42
                                                  ============   ============
Weighted average number of common shares - basic.    4,162,872      4,124,200
                                                  ============   ============
Diluted earnings per share from continuing
    operations. . . . . . . . . . . . . . . . . .  $      0.26    $      0.23
Diluted earnings per share on disposal of
    discontinued operations . . . . . . . . . . .         --             0.18
                                                  ------------   ------------
Diluted earnings per share. . . . . . . . . . . .  $      0.26    $      0.41
                                                  ============   ============
Weighted average number of common and common
 equivalent shares - diluted. . . . . . . . . . .    4,410,412      4,318,312
                                                  ============   ============
         See accompanying notes to unaudited condensed consolidated
                            financial statements.
<PAGE> 4
                              MITY ENTERPRISES, INC.
                  CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                  (unaudited)
                                                   NINE MONTHS ENDED DEC. 31,
                                                      2003           2002
                                                  ------------   ------------
Net sales . . . . . . . . . . . . . . . . . . . .  $33,610,000    $31,711,000
Cost of products sold . . . . . . . . . . . . . .   20,468,000     18,472,000
                                                  ------------   ------------
Gross profit. . . . . . . . . . . . . . . . . . .   13,142,000     13,239,000
Expenses:
  Selling . . . . . . . . . . . . . . . . . . . .    4,801,000      4,726,000
  General and administrative. . . . . . . . . . .    1,356,000      2,317,000
  Research and development. . . . . . . . . . . .    1,000,000      1,106,000
                                                  ------------   ------------
Total expenses. . . . . . . . . . . . . . . . . .    7,157,000      8,149,000
                                                  ------------   ------------
Income from operations. . . . . . . . . . . . . .    5,985,000      5,090,000
Other income (expense):
  Interest income . . . . . . . . . . . . . . . .       58,000        193,000
  Other . . . . . . . . . . . . . . . . . . . . .     (111,000)       (29,000)
                                                  ------------   ------------
Total other income (expense), net . . . . . . . .      (53,000)       164,000
                                                  ------------   ------------
Income before provision for income taxes and
  minority interest . . . . . . . . . . . . . . .    5,932,000      5,254,000
Provision for income taxes. . . . . . . . . . . .    2,214,000      2,042,000
                                                  ------------   ------------
Net income before minority interest . . . . . . .    3,718,000      3,212,000
Minority interest . . . . . . . . . . . . . . . .       (7,000)          --
                                                  ------------   ------------
Net income from continuing operations . . . . . .    3,711,000      3,212,000
Discontinued operations:
 Gain on disposal (net of applicable
    income taxes of $457,000) . . . . . . . . . .         --          745,000
                                                  ------------   ------------
Net income. . . . . . . . . . . . . . . . . . . .  $ 3,711,000    $ 3,957,000
                                                  ============   ============
Basic earnings per share from continuing
    operations. . . . . . . . . . . . . . . . . .  $      0.90    $      0.69
Basic earnings per share on disposal of
    discontinued operations . . . . . . . . . . .         --             0.17
                                                  ------------   ------------
Basic earnings per share. . . . . . . . . . . . .  $      0.90    $      0.86
                                                  ============   ============
Weighted average number of common shares - basic.    4,136,339      4,626,849
                                                  ============   ============
Diluted earnings per share from continuing
    operations. . . . . . . . . . . . . . . . . .  $      0.86    $      0.66
Diluted earnings per share on disposal of
    discontinued operations . . . . . . . . . . .         --             0.16
                                                  ------------   ------------
Diluted earnings per share. . . . . . . . . . . .  $      0.86    $      0.82
                                                  ============   ============
Weighted average number of common and common
 equivalent shares - diluted. . . . . . . . . . .    4,337,433      4,845,623
                                                  ============   ============
         See accompanying notes to unaudited condensed consolidated
                            financial statements.
<PAGE> 5

                             MITY ENTERPRISES, INC.
               CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (unaudited)
                                                   NINE MONTHS ENDED DEC. 31,
                                                      2003           2002
                                                  ------------   ------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net income . . . . . . . . . . . . . . . . . . .   $ 3,711,000    $ 3,957,000
Adjustments to reconcile net income to net cash
  provided by operating activities:
    Net gain from discontinued operations                 --         (745,000)
    Depreciation and amortization. . . . . . . .     1,205,000        871,000
    Deferred taxes . . . . . . . . . . . . . . .       201,000      2,177,000
    Net loss on disposal of equipment. . . . . .        21,000         26,000
    Tax benefit from exercise of stock options .       194,000         12,000
    Changes in assets and liabilities:
      Accounts receivable. . . . . . . . . . . .    (1,282,000)      (376,000)
      Inventories. . . . . . . . . . . . . . . .      (829,000)      (135,000)
      Prepaid expenses and other current assets.      (253,000)        64,000
      Tax receivable . . . . . . . . . . . . . .       626,000       (975,000)
      Accounts payable . . . . . . . . . . . . .      (600,000)      (180,000)
      Accrued expenses and other current
       liabilities . . . . . . . . . . . . . . .       768,000     (2,001,000)
                                                  ------------   ------------
Net cash provided by continuing operations . . .     3,762,000      2,695,000
Net cash provided by discontinued operations . .          --        2,902,000
                                                  ------------   ------------
Net cash provided by operating activities. . . .     3,762,000      5,597,000
                                                  ------------   ------------
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of available-for-sale securities . . .    (1,813,000)    (2,283,000)
Sales and maturities of available-for-sale
  securities . . . . . . . . . . . . . . . . . .     2,750,000      5,073,000
Proceeds from sales of property & equipment. . .         1,000         14,000
Decrease in notes receivable . . . . . . . . . .        88,000        230,000
Investment in affiliate. . . . . . . . . . . . .          --          (82,000)
Purchases of property and equipment. . . . . . .    (2,735,000)    (4,629,000)
                                                  ------------   ------------
Net cash used in continuing operations . . . . .    (1,709,000)    (1,677,000)
Net cash provided by discontinued operations . .         --           250,000
                                                  ------------   ------------
Net cash used in investing activities. . . . . .    (1,709,000)    (1,427,000)
                                                  ------------   ------------
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from exercise of stock options and
  issuance of shares to the 401(k) plan. . . . .       833,000        244,000
Minority interest. . . . . . . . . . . . . . . .         7,000           --
Purchase and retirement of common stock. . . . .      (336,000)   (11,121,000)
                                                  ------------   ------------
Net cash provided by (used in) financing
  activities . . . . . . . . . . . . . . . . . .       504,000    (10,877,000)
                                                  ------------   ------------
<PAGE> 6

Effect of exchange rate changes on cash. . . . .        30,000          3,000
                                                  ------------   ------------
Net increase (decrease) in cash and cash
  equivalents. . . . . . . . . . . . . . . . . .     2,587,000     (6,704,000)
Cash and cash equivalents at beginning of period     2,203,000      8,926,000
                                                  ------------   ------------
CASH AND CASH EQUIVALENTS AT END OF PERIOD . . .   $ 4,790,000    $ 2,222,000

         See accompanying notes to unaudited condensed consolidated
                            financial statements.



SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Net cash paid during the period for income taxes . $ 1,110,000    $ 1,293,000




         See accompanying notes to unaudited condensed consolidated
                            financial statements.

<PAGE> 7

                              MITY ENTERPRISES, INC.
        NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                  (unaudited)

1.  BASIS OF PRESENTATION

Interim Period Accounting Policies

     In the opinion of the management of MITY Enterprises, Inc. (the
"Company"), the accompanying unaudited condensed consolidated financial
statements contain all normal recurring adjustments necessary to present
fairly the Company's financial position and results of operations for the
interim period.  Results of operations for the three months and nine months
ended December 31, 2003 are not necessarily indicative of results to be
expected for the full fiscal year ending March 31, 2004.

     The accompanying unaudited condensed consolidated financial statements
have been prepared in accordance with accounting principles generally accepted
in the United States of America for interim financial statements.  Although
the Company believes that the disclosures in these unaudited condensed
consolidated financial statements are adequate to make the information
presented for the interim periods not misleading, certain information and
footnote information normally included in annual consolidated financial
statements prepared in accordance with accounting principles generally
accepted in the United States of America have been condensed or omitted
pursuant to the rules and regulations of the Securities and Exchange
Commission, and these financial statements should be read in conjunction with
the Company's audited consolidated financial statements included in the
Company's annual report to shareholders for the fiscal year ended March 31,
2003.

STOCK-BASED COMPENSATION

     In December 2002, the Financial Accounting Standards Board (FASB) issued
Statements of Financial Accounting Standards (SFAS) No. 148, "Accounting for
Stock-Based Compensation - Transition and Disclosure - an amendment of FASB
Statement No. 123" which provides alternative methods of transition for a
voluntary change to the fair value based method of accounting for stock-based
employee compensation.  In addition, this Statement amends the disclosure
requirements of Statement No. 123 to require prominent disclosures in both
annual and interim financial statements about the method of accounting for
stock-based employee compensation and the effect of the method used on
reported results.  SFAS No. 148 is effective for fiscal years ending after
December 15, 2002 and for financial reports containing financial statements
for interim periods beginning after December 15, 2002.  The Company has
decided to continue applying APB Statement No. 25 (as permitted by SFAS No.
123 and SFAS no. 148).  The required disclosure of the effects of SFAS No. 123
and SFAS No. 148 are included in the consolidated financial statements.
Accordingly, no compensation cost has been recognized for its stock option
plans.  Had compensation cost of the Company's two stock-based compensation
plans been determined based on the fair value at the grant dates for awards
under those plans consistent with SFAS No. 123, the Company's net income and
earnings per share would have changed to the pro forma amounts indicated
below:

<PAGE> 8
                                                  THREE MONTHS ENDED DEC. 31,
                                                      2003           2002
                                                   ----------      ----------
Net income:
  As reported                                      $1,146,000      $1,749,000
  Pro forma                                         1,110,000       1,695,000

Earnings per share - basic:
  As reported                                           $0.28           $0.42
  Pro forma                                              0.27            0.41

Earnings per share - diluted:
  As reported                                           $0.26           $0.41
  Pro forma                                              0.25            0.39


                                                   NINE MONTHS ENDED DEC. 31,
                                                      2003           2002
                                                   ----------      ----------
Net income:
  As reported                                      $3,711,000      $3,957,000
  Pro forma                                         3,606,000       3,796,000

Earnings per share - basic:
  As reported                                           $0.90           $0.86
  Pro forma                                              0.87            0.82

Earnings per share - diluted:
  As reported                                           $0.86           $0.82
  Pro forma                                              0.83            0.78

The fair value of each option grant is estimated on the date of grant using
the Black-Scholes option-pricing model with the following assumptions used for
grants in the nine months ended December 31, 2003 and 2002 respectively:
expected volatility of 43 and 45 percent, risk free interest rates of 2.06
percent and 2.52 percent, and expected lives of three to four years.  During
the nine months ended December 31, 2003 and 2002 respectively, 26,300 and
10,600 options were granted. Under SFAS No. 123, the weighted average fair
value per share of options issued during the nine months ended December 31,
2003 and 2002 was $4.74 and $4.63 respectively.


2.  INVENTORIES

     Inventories consisted of the following:

                                                DECEMBER 31,       MARCH 31,
                                                    2003             2003
                                                ------------     ------------
               Materials and supplies . . . .    $ 1,654,000      $   980,000
               Work-in-progress . . . . . . .        100,000          268,000
               Finished goods . . . . . . . .        508,000          120,000
                                                ------------     ------------
                                                 $ 2,262,000      $ 1,368,000
                                                ============     ============
<PAGE> 9

3.  COMPREHENSIVE INCOME

     In accordance with SFAS No. 130,  "Reporting Comprehensive Income," the
Company's comprehensive income consists of foreign currency adjustments and
unrealized gains and losses on available-for-sale securities.  For the nine
months ended December 31, 2003, comprehensive income exceeded net income by
$345,000, consisting of $343,000 in foreign currency translation gains and
$2,000 in unrealized gains on available for sale securities.  For the nine
months ended December 31, 2002, comprehensive income exceeded net income by
$42,000, consisting of $29,000 in foreign currency translation gains and
$13,000 in unrealized gains on available for sale securities.


4.  BUSINESS SEGMENT INFORMATION

     In accordance with SFAS No. 131,  "Disclosure about Segments of an
Enterprise and Related  Information," management views the Company as being
two continuing business segments: multipurpose room furniture and healthcare
seating, with multipurpose room furniture being the principal business
segment.  The multipurpose room furniture business segment manufactures and
markets lightweight, durable, folding leg tables, folding chairs, stacking
chairs, lecterns, and other related products.  The Company's healthcare
seating segment manufactures and markets healthcare chairs and related
products.  The Company's healthcare seating segment represents all of the
Company's foreign-based sales.

     Reportable segment data of continuing operations reconciled to the
consolidated financial statements for the three months and nine months ended
December 31, 2003 and 2002 is as follows:
                                              THREE MONTHS ENDED DECEMBER 31,
                                                  2003              2002
                                              ------------      ------------
Net sales:
  Multipurpose room furniture. . . . . . . .   $ 9,336,000       $ 9,055,000
  Healthcare seating . . . . . . . . . . . .     1,640,000         1,320,000
                                              ------------      ------------
                                               $10,976,000       $10,375,000
                                              ============      ============
Income from operations:
  Multipurpose room furniture. . . . . . . .   $ 1,519,000       $ 1,323,000
  Healthcare seating . . . . . . . . . . . .       339,000           304,000
                                              ------------      ------------
                                               $ 1,858,000       $ 1,627,000
                                              ============      ============
Depreciation expense:
  Multipurpose room furniture. . . . . . . .   $   392,000       $   277,000
  Healthcare seating . . . . . . . . . . . .        34,000            16,000
                                              ------------      ------------
                                               $   426,000       $   293,000
                                              ============      ============
Capital expenditures, net:
  Multipurpose room furniture. . . . . . . .   $   503,000       $ 1,756,000
  Healthcare seating . . . . . . . . . . . .        43,000            20,000
                                              ------------      ------------
                                               $   546,000       $ 1,776,000
                                              ============      ============
<PAGE> 10

                                               Nine months ended December 31,
                                                  2003              2002
                                              ------------      ------------
Net sales:
  Multipurpose room furniture. . . . . . . .   $29,166,000       $27,926,000
  Healthcare seating . . . . . . . . . . . .     4,444,000         3,785,000
                                              ------------      ------------
                                               $33,610,000       $31,711,000
                                              ============      ============
Income from operations:
  Multipurpose room furniture. . . . . . . .   $ 5,045,000       $ 4,232,000
  Healthcare seating . . . . . . . . . . . .       940,000           858,000
                                              ------------      ------------
                                               $ 5,985,000       $ 5,090,000
                                              ============      ============
Depreciation expense:
  Multipurpose room furniture. . . . . . . .   $ 1,110,000       $   815,000
  Healthcare seating . . . . . . . . . . . .        95,000            56,000
                                              ------------      ------------
                                               $ 1,205,000       $   871,000
                                              ============      ============
Capital expenditures, net:
  Multipurpose room furniture. . . . . . . .   $ 2,613,000       $ 4,550,000
  Healthcare seating . . . . . . . . . . . .       122,000            79,000
                                              ------------      ------------
                                               $ 2,735,000       $ 4,629,000
                                              ============      ============

                                                December 31,       March 31,
                                                    2003             2003
                                                ------------     ------------
Total assets:
  Multipurpose room furniture. . . . . . . .     $26,524,000      $22,364,000
  Healthcare seating . . . . . . . . . . . .       3,870,000        3,038,000
                                                ------------     ------------
                                                 $30,394,000      $25,402,000
                                                ============     ============

5.  COMPUTATION OF NET INCOME PER SHARE

The following is the Company's reconciliation of basic and diluted net income
per share for the three months and nine months ended December 31, 2003 and
2002, respectively.

<PAGE> 11
                                 THREE MONTHS ENDED       NINE MONTHS ENDED
                                   DECEMBER 31,             DECEMBER 31,
                                  2003       2002         2003        2002
                             ----------- -----------  ----------- -----------
Net income from continuing
 operations . . . . . . . . .$ 1,146,000 $ 1,004,000  $ 3,711,000 $ 3,212,000
Discontinued operations:
 Estimated gain on disposal .       --       745,000         --       745,000
                             ----------- -----------  ----------- -----------
Net income as reported. . . .$ 1,146,000 $ 1,749,000  $ 3,711,000 $ 3,957,000
                             =========== ===========  =========== ===========
Basic:
 Weighted average number of
  common shares outstanding .  4,162,872   4,124,200    4,136,339   4,626,849
                             =========== ===========  =========== ===========
 Basic net income per share
  from continuing operations.     $ 0.28      $ 0.24       $ 0.90      $ 0.69
 Basic net gain per share on
  disposal of discontinued
  operations. . . . . . . . .        --         0.18          --         0.17
                             ----------- -----------  ----------- -----------
 Basic net income per share .     $ 0.28      $ 0.42       $ 0.90      $ 0.86
                             =========== ===========  =========== ===========
Diluted:
 Common and common equivalent
  shares outstanding:
 Weighted average number of
  common shares outstanding .  4,162,872   4,124,200    4,136,339   4,626,849
   Common stock equivalents
    from options computed on
    the treasury-stock method
    using the average fair
    market value of common
    stock outstanding during
    the period  . . . . . . .    247,540     194,112      201,094     218,774
                             ----------- -----------  ----------- -----------
   Shares used in the
    computation . . . . . . .  4,410,412   4,318,312    4,337,433   4,845,623
                             =========== ===========  =========== ===========

 Diluted net income per share
  from continuing operations.     $ 0.26      $ 0.23       $ 0.86      $ 0.66
 Diluted net gain per share on
  disposal of discontinued
  operations. . . . . . . . .        --         0.18          --         0.16
                             ----------- -----------  ----------- -----------
 Diluted net income per share     $ 0.26      $ 0.41       $ 0.86      $ 0.82
                             =========== ===========  =========== ===========

<PAGE> 12

6.  NOTES RECEIVABLE AND INVESTMENT IN SUBSIDIARY

     During the quarter ended March 31, 2002, the Company paid $50,000 as a
good faith deposit for technology to be used in a separate startup development
company to investigate the commercial development of a new technology.  During
the quarter ended December 31, 2002, the Company paid an additional $82,000.
This technology investment of $132,000 was contributed to a startup
development company for which the Company received a 50 percent equity
ownership interest.  The other 50 percent interest in the technology was
contributed by the other 50 percent owner.  The Company has entered into a
royalty agreement with the other 50 percent owner of the startup development
company for some of the products sold by the startup company.  The Company has
also extended a line of credit of $125,000 to the other 50 percent owner,
which is secured by such owner's interest in the company and future royalty
payments.  The line of credit, which bears interest at the prime rate
(adjusted monthly) as published by the Wall Street Journal, requires an
initial payment of the accrued interest six months after the line was
extended.  Thereafter, monthly payments of interest only are required from
June 1, 2003 until November 30, 2004 at which time, the full amount of the
outstanding line is due and payable.  As of December 31, 2003, the full credit
line of $125,000 was outstanding.

     During the quarter ended March 31, 2002, the Company entered into an
agreement with a dealer for the Company's multipurpose room furniture in
Australia and created a note receivable for $365,000.  This note, which bears
interest at the prime rate, requires monthly payments of interest and
principal in the amount of $6,000 and is being amortized over a nine and one
half year period.  The note is secured by all of the assets of the dealership
and by personal guarantees from the principals of the dealership.  The Company
has created a reserve of $150,000 for this note receivable.  At December 31,
2003, the gross value of this note receivable was $257,000.  At December 31,
2003, $56,000 was the current portion of this note receivable, which is
included in prepaid expenses and other current assets.  As of December 31,
2003, the dealer was current on payments on this note receivable.


7.  RECENTLY ISSUED FINANCIAL ACCOUNTING STANDARDS

In January 2003, the FASB issued Interpretation No. 46, "Consolidation of
Variable Interest Entities", ("FIN No. 46") an interpretation of ARB No. 51.
FIN No. 46 addresses consolidation by business enterprises of variable
interest entities.  FIN No. 46 applies immediately to variable interest
entities created after January 31, 2003 and to variable interest entities in
which an enterprise obtains an interest after that date.  FIN No. 46 applies
in the first year or interim period ending after December 15, 2003 to variable
interest entities in which an enterprise holds a variable interest that it
acquired before February 1, 2003.  The Company does not have an interest in
any variable interest entity and therefore the adoption of FIN No. 46 did not
impact our consolidated financial statements.

<PAGE> 13

In April 2003, the FASB issued SFAS No. 149, "Amendment of Statement 133 on
Derivative Instruments and Hedging Activities", which amends and clarifies
accounting for derivative instruments, including certain derivative
instruments embedded in other contracts, and for hedging activities under SFAS
No. 133.  SFAS No. 149 is effective for contracts entered into or modified
after June 30, 2003 and for hedging relationships designated after June 30,
2003.  The adoption of SFAS No. 149 did not have an impact on our consolidated
financial statements.

In May 2003, the FASB issued SFAS No. 150, "Accounting for Certain Financial
Instruments with Characteristics of both Liability and Equity", which
establishes standards for how an issuer classifies and measures certain
financial instruments with characteristics of both liability and equity in its
statement of financial position.  SFAS No. 150 is effective for new or
modified financial instruments beginning June 1, 2003, and for existing
instruments beginning August 1, 2003.  The adoption of SFAS No. 150 did not
have an impact on our consolidated financial statements.


8.  COMMITMENTS AND CONTINGENCIES

The Company has been named as defendant in certain lawsuits.  While the
Company cannot predict the results of these actions, management believes,
based in part on the advice of legal counsel, that the liability, if any,
resulting from such litigation and claims will not have a material affect on
the consolidated financial statements.

The Company has certain alleged obligations of up to $2.3 million related to a
defined benefit pension plan resulting from exiting and selling its specialty
office seating and systems business.  The Company does not believe that it is
liable for this amount and plans to vigorously defend its position.  At this
time, the Company is unable to determine what its liability will be, if any.


ITEM 2.

         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                          AND RESULTS OF OPERATIONS

GENERAL

     The following discussion should be read in conjunction with the attached
consolidated financial statements and the notes thereto and with MITY
Enterprises, Inc.'s (the "Company's") Annual Report on Form 10-K for the
fiscal year ended March 31, 2003.

     The Company designs and manufactures institutional furniture and markets
its products in niche markets.  The Company's current ongoing product lines
consist of multipurpose room furniture and healthcare seating.  In addition,
the Company continues to pursue development of new products and the
acquisition of product lines or companies that will be complementary to the
Company's businesses.

<PAGE> 14

     MULTIPURPOSE ROOM FURNITURE.  The Company's multipurpose room furniture
line consists of lightweight, durable, folding leg tables, stacking chairs,
folding chairs, lecterns, and other related products.  These products are used
in multipurpose rooms of educational, recreational, hotel and hospitality,
government, office, healthcare, religious and other public assembly
facilities.  Historically, growth in this segment has come from an expanding
base of new customers, from increasing sales to existing customers and from
expansion of the Company's multipurpose room product line.  The current and
future growth of the Company's multipurpose room furniture operations depends
largely upon conditions in the industry, the Company's ability to successfully
introduce and market new product lines of multipurpose room furniture and its
ability to profitably increase its market penetration into existing and new
markets.

     MULTIPURPOSE ROOM FURNITURE OUTLOOK.  The downturn in the domestic and
international economy, particularly the downturn in the furniture industry and
some of the Company's target markets such as education and recreation, has
negatively impacted the Company's historical sales growth rates in fiscal 2003
and 2002.  Continued terror threats and military conflicts have also
negatively impacted many of the Company's markets, particularly travel-related
markets such as the hotel and hospitality, recreational and public assembly
markets.  Industry experts reported a decline in the U.S. office furniture
market of 19 percent for calendar year 2002.  Through November 2003, industry
experts reported a 5 percent decline in shipments for calendar year 2003.  The
Company has also seen significant competitive pressure in its multipurpose
room table markets from lower-priced thermo-formed and blow-molded tables and
expects this pressure to continue.  The Company's multipurpose room operations
for the quarter ended December 31, 2003 performed better than industry
estimates as sales volumes increased 6 percent as compared to the prior year.
Despite this increase, the Company anticipates that weakness in furniture
demand will continue until overall business conditions improve.

     The Company is preparing to launch its next generation of multipurpose
room table.  During the past few years, the Company has been developing a
table that is stronger, lighter, more durable and better able to withstand
outdoor use than its current multipurpose room tables.  The Company believes
that it has developed a product that will meet most if not all of these
criteria.  During the quarter ended September 30, 2003, the Company shipped
some initial prototype tables to one of its customers.  Upon further
consultation with this customer as well as further internal testing, the
Company initiated some revisions in the design of the table requiring some
rework of the initial design and manufacturing process.  The Company has
completed the redesign and is beginning to create a repeatable manufacturing
process to produce these tables.  The Company also has completed the
construction of a new 63,000 square foot facility that is now being used to
manufacture its new generation tables.  During the quarter ended December 31,
2003, the Company began shipping a few tables to a customer, and anticipates
moving forward with a general product launch in the next six to nine months.
The Company currently believes that its next generation table will largely
replace its existing table sales over a period of one to two years.  The
Company also believes that if all of the performance criteria are met that it
may be able to capture additional market share.

<PAGE> 15

     During the past few years, chair sales have begun to make up a larger
portion of the multipurpose room operations sales.  Although table sales still
predominate the volume of this operation, most of the increases in sales can
be attributed to increases in chair sales.  During the first quarter of this
fiscal year, the Company launched a new line of stacking chairs to complement
its existing chair lines.  The Company anticipates developing additional
complementary chair lines to continue to grow this portion of its business as
well as further penetrating its existing marketplace with its current line of
chairs.  However, there can be no assurance that the Company will be able to
successfully develop and launch such chair lines or further penetrate its
existing marketplace.

     The Company has a 50 percent equity ownership interest in a separate
startup development company (the "Startup Development Company") that is
investigating the commercial development of a new technology related to the
manufacturing process the Company is using for its next generation tables.
The Company believes that this technology may be used for the internal
development and/or licensing of new products which may be outside of its
current multipurpose room marketplace.  Pending the launch of the Company's
next generation table, the Company will continue to evaluate potential
applications of this process to determine which new products, if any, would be
best suited for the Company to start developing.  There is no guarantee that
the Company will be able to find other suitable applications for this
technology.

     HEALTHCARE SEATING.  Through its wholly owned subsidiary, Broda
Enterprises, Inc., the Company markets a line of healthcare seating products
to customers in Canada and the United States.  Broda's operations are based in
Waterloo, Ontario, Canada.  Broda focuses on providing products which assist
long-term care patients with advanced needs due to a debilitating condition or
disease, and has developed a line of premium-priced geriatric seating
products.  Broda chairs serve a very specific niche in the healthcare market
and thus do not compete in the commodity-oriented general healthcare seating
market.

     HEALTHCARE SEATING OUTLOOK.  The Company believes that the specialty
healthcare seating market is less subject to economic pressures than the
Company's multipurpose room furniture operations.  For the quarter ended
December 31, 2003, the Company's healthcare seating operations have not been
significantly impacted by the downturn in the U.S. and world economies.
However, the medical and healthcare industry is more subject to regulatory
changes that could affect the demand for Broda's products.  The Company is not
aware of any regulatory changes in the near future that would have a
substantial and negative impact on this business.  The Company's healthcare
seating operation's future growth depends largely upon increasing its market
penetration into the U.S. and other foreign markets as well as its ability to
successfully introduce and market new product lines.

     GENERAL OUTLOOK.  Based on the reasons stated above, the Company
anticipates that sales volumes during the quarter ending March 31, 2004 will
be up to 15 percent higher as compared to the prior year's fourth quarter.
Despite these trends, the Company, for a variety of reasons including those
described elsewhere herein, may not be successful in achieving this sales
level in the fourth quarter.

<PAGE> 16

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

     This discussion and analysis of financial condition and results of
operations is based upon the Company's consolidated financial statements which
have been prepared in accordance with accounting principles generally accepted
in the United States of America.  These principles require the use of
estimates and assumptions that affect amounts reported and disclosed in the
financial statements and footnotes.  Management bases its estimates on
historical experience and on various other assumptions that are believed to be
reasonable under the circumstances, the results of which form the basis for
making judgments about the carrying values of assets and liabilities that are
not readily apparent from other sources.  The Company's critical accounting
policies include the allowance for doubtful accounts receivable, reserve for
obsolete inventory, accruals for warranty expense, values for the discontinued
operations, goodwill and other intangible assets, notes receivable, income
taxes, and pension liability.

ALLOWANCE FOR DOUBTFUL ACCOUNTS RECEIVABLE: The Company exercises considerable
judgment in determining the ultimate collectability of its accounts
receivable.  Several factors are used in making these judgments including the
customer credit quality, historical write-off experience and current economic
trends.  The Company reviews these factors quarterly, and the allowance is
adjusted accordingly.  If the financial condition of the Company's customers
were to deteriorate, an additional allowance may be required.

RESERVE FOR OBSOLETE INVETNORY: Inventories are stated at the lower of cost,
on a first in, first out basis, or market.  Additionally, the Company
evaluates its inventory reserves in terms of excess and obsolete exposures.
This evaluation includes such factors as anticipated usage, inventory turnover
and ultimate product sales value.

ACCRUALS FOR WARRANTY EXPENSE: The Company provides for the estimated cost of
product warranties at the time revenue is recognized.  This warranty
obligation is affected by failure rates, the introduction of new products, and
the costs of material and labor to repair or replace the product.  The Company
regularly assesses the adequacy of its accrual for warranty expense based upon
historical warranty rates and anticipated future warranty rates.

GOODWILL AND OTHER INTANGIBLE ASSETS: The Company reviews annually the
carrying value of its goodwill and other intangible assets.  The goodwill
arose from its acquisition of Broda Enterprises and the other intangible asset
is intellectual property related to the Startup Development Company.  During
the quarter ended June 30, 2003, the Company reviewed the goodwill related to
the Broda acquisition.  This review is performed using estimates of future
cash flows.  If the carrying value of the intangible asset is considered
impaired, an impairment charge is recorded for the amount by which the
carrying value of the intangible asset exceeds its fair value.  No impairment
charges have been recorded related to Broda goodwill or the intellectual
property related to the Startup Development Company.

<PAGE> 17

NOTES RECEIVABLE: The Company reviews its notes receivable to determine likely
collectability.  Since the notes are with entities without a history of an
ability to create future cash flows, the Company bases its belief in their
collectability upon its understanding of the potential future success of the
products being developed or on the Company's belief of what the liquidation
value of the operation would be.  At this time, the Company has created
reserves on some of these notes receivable.  Due to the high level of
uncertainty in the success of these products, these notes receivable may not
be ultimately realized.

INVESTMENT IN AFFILIATE: The Company has an investment in the Startup
Development Company of $132,000.  The Company consolidates this entity within
its financial statements and eliminates the other owner's 50 percent interest
in the net profits or losses in the income statement.  For the quarter ended
December 31, 2003, this entity realized a net loss of $65,000 of which 50
percent or $33,000 was eliminated as a minority interest.  For the nine months
ended December 31, 2003, this entity realized a net loss of $134,000 of which
50 percent or $67,000 was eliminated as a minority interest.  Due to concerns
about the ability of the other partner to fund these losses, the Company has
decided to fully reserve this minority interest.

INCOME TAXES: The Company has not provided a valuation allowance against the
deferred tax assets recorded in the financial statements.  The Company
evaluates quarterly the realizability of its deferred tax assets based upon
expected future taxable income.  Management believes that it is more likely
than not that future earnings will be sufficient to recover deferred tax
assets.

PENSION LIABILITY: The Company has certain alleged obligations of up to $2.3
million related to a defined benefit pension plan resulting from exiting and
selling its specialty office seating and systems business.  The Company is
investigating this matter and does not believe that it is liable for this
amount and plans to vigorously defend its position.  At this time, the Company
is unable to determine what its liability will be, if any.


COMPARISON OF OPERATIONS FOR THE THREE MONTHS AND NINE MONTHS ENDED DECEMBER
31, 2003 AND 2002

     NET SALES.  The Company's third quarter fiscal 2004 net sales of
$10,976,000 were up 6 percent as compared with the third quarter net sales in
the prior fiscal year.  For the quarter ended December 31, 2003, the increase
reflects sales increases, as compared to the quarter ended December 31, 2002,
of 24 percent in the Company's healthcare chair operations and 3 percent in
the Company's multipurpose room operations.  The Company's total international
sales represented 15 percent of net sales for the quarter ended December 31,
2003 as compared to 11 percent in the third quarter of fiscal 2003.  The
Company attributes most of the increase in sales in the multipurpose room
operations to a 21 percent increase in chair sales.  This was partially offset
by a 1 percent decline in table sales.  The Company expects that its overall
net sales will be up to 15 percent higher in the fourth quarter of fiscal 2004
as compared to the fourth quarter of fiscal 2003.

<PAGE> 18

     For the nine months ended December 31, 2003, the Company's net sales of
$33,610,000 represented an increase of 6 percent over the same period in the
prior fiscal year.  For the nine months ended December 31, 2003, the increase
reflects sales increases, as compared to the nine months ended December 31,
2002, of 17 percent in the Company's healthcare chair operations and 4 percent
in the Company's multipurpose room operations.  The Company's total
international sales represented 13 percent of net sales for the nine months
ended December 31, 2003 as compared to 10 percent in the prior year's period.
The 4 percent increase in the Company's multipurpose room operations is
attributed to a 17 percent increase in chair sales and a 1 percent increase in
table sales.

     GROSS PROFIT.  Gross profit as a percentage of net sales in the quarter
ended December 31, 2003 decreased by 3 percentage points over the same quarter
in the prior fiscal year to 38 percent.  This decrease was due to higher
overhead and labor costs associated with the startup of the manufacturing
operation for the Company's next generation table and higher labor and
overhead costs at the Company's healthcare seating operations.  This decrease
was partially offset by lower material costs at both the Company's
multipurpose room operations and the Company's healthcare seating operations.

     Gross profit as a percentage of net sales in the nine months ended
December 31, 2003 decreased by 3 percentage points over the same period in the
prior fiscal year to 39 percent.  This decrease was due to higher labor and
overhead costs associated with the startup of the manufacturing operation for
the Company's next generation table, and higher overhead costs at the
healthcare seating operations.  This decrease was partially offset by lower
material costs at both the multipurpose room operations and the Company's
healthcare seating operations.

     SELLING EXPENSES.  Selling expenses were 15 percent of net sales in the
third quarter of fiscal 2004 which was relatively flat as compared to the
third quarter of the prior fiscal year.  Actual expenses increased by $90,000.
Multipurpose room furniture selling costs increased by $32,000 over the prior
fiscal year.  This increase resulted primarily from higher trade show and
other marketing costs.  Selling expenses at the healthcare seating operations
increased by $58,000 over the prior fiscal year due primarily to higher
personnel and commission costs on the increased sales volume.

     Selling expenses were 14 percent of net sales for the nine months ended
December 31, 2003, a decrease of 1 percentage point as compared to the
comparable period in the prior fiscal year.  Actual expenses increased by
$75,000.  Multipurpose room furniture selling costs decreased by $89,000 over
the prior fiscal year.  This decrease resulted primarily from lower costs for
personnel and trade shows.  Selling expenses at the healthcare seating
operations increased by $164,000 over the prior fiscal year due primarily to
higher personnel and commission costs on the increased sales volume.

     GENERAL AND ADMINISTRATIVE EXPENSES.  General and administrative expenses
were 3 percent of net sales for the third quarter of fiscal 2004 as compared
to 6 percent for the third quarter of the prior fiscal year.  Actual spending
decreased by 44 percent or $267,000.  The decrease was primarily due to the
receipt of a settlement in a legal suit, the terms of which the Company is
unable to disclose.  The decrease was also due to a charge in the previous
year of $52,000 to fully reserve the balance in a note receivable to a startup
development company as well as lower professional fees and bad debt expense.

<PAGE> 19

     General and administrative expenses were 4 percent of net sales for the
nine months ended December 31, 2003 as compared to 7 percent for the same
period of the prior fiscal year.  Actual spending decreased by 41 percent or
$961,000.  The decrease was primarily due to a charge in the prior fiscal year
of $735,000 that fully reserved the December 31, 2002 balance in a note
receivable to a startup development company.  The decrease was also due to the
receipt of a settlement in a legal suit as well as lower professional fees.

     RESEARCH AND DEVELOPMENT EXPENSES.  Research and development expenses
were 3 percent of net sales for the third quarter of fiscal 2004 as compared
to 4 percent for the third quarter of the prior fiscal year.  Actual spending
decreased by $85,000 primarily due to lower costs for personnel, outside
services and production supplies at the Company's multipurpose room
operations.  This decrease was partially offset by increased spending at the
Company's healthcare seating operations.

     Research and development expenses were 3 percent of net sales for the
nine months ended December 31, 2003, roughly flat as compared to the same
period of the prior fiscal year.  Actual spending decreased by $106,000
primarily due to lower costs for personnel, outside services and production
supplies at the Company's multipurpose room operations.  This decrease was
partially offset by increased spending at the Company's healthcare seating
operations.

     OTHER INCOME AND EXPENSE.  Other income and expense netted to a net
expense of $22,000 for the third quarter of fiscal 2004 as compared to $0 for
the third quarter of fiscal 2003.  Third quarter interest income was $19,000,
equal to the third quarter of the prior fiscal year.  Other expenses totaled
$41,000 for the current quarter and consisted of $20,000 in losses on asset
disposal, $22,000 in realized foreign currency exchange losses, and $1,000 in
other income.

     Other income and expense netted to a net expense of $53,000 for the nine
months ended December 31, 2003 as compared to net income of $164,000 for the
same period in the prior fiscal year.  Interest income was $58,000, a decrease
of $135,000 from the same period of the prior fiscal year.  The decrease was
due to a lower rate of return on a lower cash balance held in the current
fiscal year.  Other expenses, which totaled $111,000 for the nine months ended
December 31, 2003, consisted of $93,000 in realized foreign currency exchange
losses, $20,000 in losses on asset disposal and other income of $2,000.

     MINORITY INTEREST.  During the quarter ended December 31, 2003, the
Startup Development Company in which the Company has a 50 percent equity
interest realized a net loss of $65,000.  Since the Company consolidates this
entity within its financial statements and eliminates the other owner's 50
percent interest in the net profits or losses, 50 percent of the loss, or
$33,000, was eliminated as a minority interest.  However, due to concerns that
the Company has about the ability of the other partner to fund these losses,
the Company has decided to fully reserve this minority interest, including the
amounts recognized in previous quarters.  Consequently, the net effect during
the quarter was a net expense of $41,000.

<PAGE> 20

     For the nine months ended December 31, 2003, the Startup Development
Company realized a net loss of $134,000.  Upon consolidation, 50 percent of
the loss, or $67,000, was eliminated as a minority interest.  However, due to
concerns that the Company has about the ability of the other partner to fund
these losses, the Company has decided to fully reserve this minority interest,
including the amounts recognized in previous quarters.  Consequently, the net
effect during the period was a net expense of $7,000.

     NET INCOME FROM CONTINUING OPERATIONS.  For the reasons stated above, the
Company's fiscal 2004 third quarter net income from continuing operations of
$1,146,000 increased $142,000 or 14 percent over the third quarter net income
from continuing operations in the prior fiscal year.

     For the reasons stated above, net income from continuing operations for
the nine months ended December 31, 2003 was $3,711,000, an increase of
$499,000 or 16 percent over the same period of the prior fiscal year.


LIQUIDITY AND CAPITAL RESOURCES

     Cash and cash equivalents, which consist primarily of high-quality
commercial paper and repurchase agreements collateralized with U.S. Treasury
securities, totaled $4.79 million at December 31, 2003 as compared to $2.20
million at March 31, 2003.

     The following table highlights certain key cash flow and capital
information pertinent to the discussion that follows:

                                                   NINE MONTHS ENDED
                                                   DECEMBER 31, 2003
                                                   -----------------
Net cash provided by operating activities. . . .     $ 3,762,000
Net sales of available-for-sale securities . . .         937,000
Purchases of property and equipment. . . . . . .      (2,735,000)
Net proceeds from exercise of stock options. . .         833,000
Purchase and retirement of common stock. . . . .        (336,000)

     The increase in cash and cash equivalents was due primarily to cash
provided by operating activities ($3.76 million), the net sales of
available-for-sale securities ($0.94 million), and net proceeds related to the
exercise of stock options ($0.83 million).  This increase was partially offset
by the purchases of property and equipment ($2.74 million), and the purchase
and retirement of common stock ($0.34 million).

     Historically, the Company has financed its growth primarily through cash
flow from its operations.  The Company's subsidiary, Broda Enterprises, has a
line of credit.  The limit on this facility is $0.77 million.  As of December
31, 2003, no amount was drawn under this facility.  This credit facility
requires the maintenance of certain financial ratios and levels of working
capital.  As of December 31, 2003, the Company was in full compliance with the
loan covenants related to Broda's credit facility.  The Company's liquidity
depends only partially upon the availability of the Broda credit facility.

<PAGE> 21

     The Company currently believes that cash flow from its current operations
together with existing cash reserves and available line of credit will be
sufficient to support its working capital requirements for its existing
operations for at least the next 12 months.  No assurances can be given as to
the sufficiency of the Company's working capital to support the Company's
operations.  If the existing cash reserves, cash flow from operations and debt
financing are insufficient or if working capital requirements are greater than
currently estimated, the Company could be required to raise additional
capital.  There can be no assurance that the Company will be capable of
raising additional capital or that the terms upon which such capital will be
available to the Company will be acceptable.  Additional sources of equity
capital are available to the Company through the exercise by holders of
outstanding options.  At December 31, 2003, the proceeds which would have been
received by the Company upon exercise of outstanding options which were
exercisable on that date were approximately $3.50 million.  There is no
assurance that such options will be exercised.

     The Company's material cash commitments at December 31, 2003 include
current liabilities of $4.06 million to be repaid from funds generated from
operations.  Current liabilities consist of the following:

                                                DECEMBER 31,       MARCH 31,
                                                    2003             2003
                                                ------------     ------------
Accounts payable. . . . . . . . . . . . . . . .   $1,624,000       $2,184,000
Accrued payroll . . . . . . . . . . . . . . . .    1,443,000          931,000
Accrued warranty expense. . . . . . . . . . . .      416,000          365,000
Other accruals. . . . . . . . . . . . . . . . .      579,000          343,000
                                                ------------     ------------
Total current liabilities . . . . . . . . . . .   $4,062,000       $3,823,000
                                                ============     ============

     The Company has also entered into two lease agreements for Broda's
production and office facilities under which it is obligated to pay $16,000
Canadian (approximately US $12,000) per month through August 2004.

     During the quarter ended March 31, 2002, the Company paid $50,000 as a
good faith deposit for technology then expected to be used in a separate
startup development company to investigate the commercial development of a new
technology.  During the quarter ended December 31, 2002, the Company paid an
additional $82,000.  This total technology investment of $132,000 was
contributed to the Startup Development Company in exchange for a 50 percent
equity ownership interest.  The other 50 percent interest in the technology
was contributed by the other 50 percent owner.  The Company has entered into a
royalty agreement with the other 50 percent owner for some of the products
that may be sold by the Startup Development Company.  The Company has also
extended a line of credit of $125,000 to the other 50 percent owner, which is
secured by such owner's interest in the Startup Development Company and future
royalty payments.  The line of credit, which bears interest at the prime rate
(adjusted monthly) as published by the Wall Street Journal, requires an
initial payment of the accrued interest six months after the line was
extended.  Thereafter, monthly payments of interest only are required from
June 1, 2003 until November 30, 2004 at which time, the full amount of the
outstanding line is due and payable.  As of December 31, 2003, the full credit
line of $125,000 was outstanding.

<PAGE> 22

     On September 24, 2001, the Company announced its intention to repurchase
up to 125,000 shares of the Company's common stock.  On February 14, 2002, the
Company announced its intention to repurchase up to an additional 150,000
shares, bringing the total number of shares approved for repurchase to
275,000.  During the quarter ended June 30, 2003, the Company completed the
repurchase of 275,000 shares.  The board of directors further authorized an
additional 10,000 shares to be repurchased during the first quarter.  This
authorization was fulfilled as well.  The Company does not currently have a
share repurchase authorization.  However, the Company may do additional
repurchases in the future, which, if they occur, will reduce the Company's
liquidity.

     In connection with the development and anticipated launch of the
Company's next generation multipurpose room table, the Company has completed
the construction of a new 63,000 square foot facility which is being used to
manufacture the next generation tables.  In addition, the Company is both
purchasing and developing machinery and equipment to be used in this new
process.  As of December 31, 2003, the Company had invested approximately $4.9
million for the building and capital equipment. The Company anticipates
additional capital expenditures of approximately $1.2 million over the next 3
to 6 months.  The Company anticipates funding these capital expenditures using
existing capital reserves as well as using cash from operations.  However,
there is no assurance that such resources will be sufficient and that the
Company will not need to raise additional capital.

     The Company has certain alleged obligations of up to $2.3 million related
to a defined benefit pension plan resulting from exiting and selling its
specialty office seating and systems business.  The Company is investigating
this matter and does not believe that it is liable for this amount and plans
to vigorously defend its position.  At this time, the Company is unable to
determine what its liability will be, if any.  However, if the Company is
obligated for any or all of this amount, it would reduce the Company's
liquidity.


FORWARD-LOOKING STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE RESULTS OF
OPERATIONS

     Certain statements made above in this filing that are not historical
facts are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act").  When used in
this filing, the words or phrases "may," "will," "management believes,"
"Company believes," "Company intends," "estimates," "projects," "anticipates,"
"expects" and similar expressions are intended to identify "forward-looking
statements" within the meaning of the Reform Act.

     Forward-looking statements contained herein include plans and objectives
of management for future operations, including plans and objectives relating
to the products, marketing, customers, product line expansions or cost
reductions to preserve margins.  These forward-looking statements involve
risks and uncertainties and are based on certain assumptions that may not be
realized.  Actual results and outcomes may differ materially from those
discussed or anticipated.  The forward-looking statements and associated risks
set forth herein and elsewhere in this filing relate to:

<PAGE> 23

     - statements that the Company continues to pursue new product development
and acquisitions of product lines or companies that would be complementary to
the Company's businesses;

     - references to predicted declines in the institutional furniture and
U.S. office furniture markets, and the Company's belief that weakness in
furniture demand will continue;

     - statements that the Company is getting ready to generally launch in the
next six to nine months its next generation table product that is stronger,
lighter, more durable and more able to withstand outdoor use than its current
table products;

     - statements that the Company believes that it has a repeatable
production-ready process for its next generation table, and its belief that
this table will largely replace its existing table over the next one to two
years as well as its belief that it may be able to capture additional market
share;

     - statements that the Company anticipates developing additional
complementary chair lines and further penetrating its existing marketplace
with its current line of chairs;

     - statements about the Company's belief that the Startup Development
Company's technology may be used to develop and/or license the development of
new products outside of the Company's current multipurpose room marketplace;

     - statements that the Company anticipates that its sales volumes during
the fourth quarter of fiscal 2004 will be up to 15 percent higher as compared
to the sales levels of the fourth quarter of fiscal 2003;

     - references to anticipated continued competitive pressure in
multipurpose room table markets;

     - the statement that the Company's healthcare seating operations are less
subject to economic pressures than its multipurpose room furniture operations
but more subject to changes in the regulatory environment;

     - statements that management believes it is more likely than not that
future earnings will be sufficient to recover deferred tax assets:

     - statements relating to the Company's belief that cash flow from its
current operations, existing cash reserves, and available line of credit will
be sufficient to support its working capital requirements to fund existing
operations for at least the next 12 months;

     - statements relating to the Company's possible need to raise additional
capital if its cash flow from operations and debt financing are insufficient
to fund the Company's working capital requirements;

     - statements related to anticipated capital expenditures related to the
Company's next generation table and the Company's ability to fund such
expenditures; and

<PAGE> 24

     - statements related to the Company's belief that it is not liable for
certain alleged obligations of up to $2.3 million related to a defined benefit
pension plan resulting from exiting and selling its specialty office seating
and systems business.

     All forward-looking statements involve predictions and are subject to
known and unknown risks and uncertainties, including, without limitation,
those discussed below as well as general economic and business conditions,
that could cause actual results to differ materially from historical results
and those presently anticipated or projected.  Readers should not place undue
reliance on any such forward-looking statements, which speak only as of the
date made.  The considerations listed below and elsewhere in this filing could
affect the Company's financial performance and could cause the Company's
actual results for future periods to differ materially from any views or
statements expressed with respect to future periods.  Important factors and
risks that might cause such differences, include, but are not limited to:

     - a continued downturn in domestic and international economies and
business conditions specifically in the institutional furniture industry;

     - continued global tension and U.S. military actions related thereto and
continued acts of terror and threats of terrorism;

     - increased competition in the Company's core businesses;

     - loss of important customer contracts through increased price-based and
product quality competition especially in the Company's multipurpose room
furniture segment;

     - limited management and key employee resources;

     - declines in sales volumes and profit margins in the Company's
businesses;

     - lower than expected revenue, revenue growth, cash flow and gross
margins from the multipurpose room and healthcare seating operations, higher
materials and labor costs, or the Company's inability, for any reason, to
profitably introduce new products or implement its marketing strategies in the
healthcare seating and multipurpose room markets;

     - management's inability for any reason to manage effectively the
Company's operations;

     - the Company's inability for any reason to develop new products and
expand successfully into new markets;

     - the Company's ability to effectively produce and sell its next
generation multipurpose room table products;

     - the Company's ability to effectively address any unanticipated  design
challenges with respect to its next generation table products and generally
launch such table products by the anticipated launch date;

     - the market's acceptance of products currently being developed by the
Company including its next generation multipurpose room tables;

<PAGE> 25

     - the Company's ability to manufacture and market at current margins high
quality, high performance products at competitive prices;

     - import restrictions and economic conditions in the Company's foreign
markets and foreign currency risks associated therewith;

     - the Company's ability to maintain relatively low cost labor rates;

     - the Company's ability to source a sufficient volume of acceptable raw
materials at current prices;

     - increased product warranty service costs if warranty claims increase as
a result of the Company's new product introductions or acquisitions or for any
other reason;

     - the Company's ability to refine and enhance the quality and
productivity of its manufacturing process;

     - the Company's ability to locate and successfully consummate and
integrate acquisitions, if any, of complementary product lines or companies on
terms acceptable to the Company;

     - the Company's ability to retain and maintain relationships with key
customers;

     - the Company's ability to raise capital, if needed;

     - the availability of insurance funding for the Company's healthcare
seating products;

     - the risk that the Company may become liable for certain alleged
obligations of up to $2.3 million related to a defined benefit pension plan
resulting from exiting and selling its specialty office seating and systems
business; and

     - regulatory developments that adversely affect demand for the Company's
products, particularly the Company's healthcare seating products.

     In light of the significant uncertainties inherent in forward-looking
statements, the inclusion of any such statement should not be regarded as a
representation by the Company or any other person that the objectives or plans
of the Company will be achieved.  The Company disclaims any obligation or
intent to update any such factors or forward-looking statements to reflect
future events or developments.

<PAGE> 26


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     The Company manufactures its products in the United States and Canada and
sells its products in those markets as well as in other countries.  The
majority of the Company's sales and expenses are transacted in U.S. dollars
with limited transactions occurring in Canadian dollars or other foreign
currencies.  Foreign currency exchange rate fluctuations did not have a
material impact on the financial results of the Company during the quarter
ended December 31, 2003.  The Company has occasionally entered into forward
contracts for specific US$ denominated accounts receivable related to its
healthcare seating operations.  As of December 31, 2003, no forward contracts
were outstanding.  The economic impact of foreign exchange rate movements on
the Company is complex because such changes are often linked to variability in
real growth, inflation, interest rates, governmental actions and other
factors.

ITEM 4.  CONTROLS AND PROCEDURES.

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

     Under the supervision and with the participation of the Company's
management, including the Company's Chief Executive Officer and Chief
Financial Officer, the Company evaluated the effectiveness of the design and
operation of the Company's disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) under the Exchange Act).  Based upon that
evaluation, the Chief Executive Officer and Chief Financial Officer concluded
that, as of the end of the period covered by this report, the Company's
disclosure controls and procedures were effective in timely alerting them to
the material information relating to the Company (or its consolidated
subsidiaries) required to be included in the reports the Company files or
submits under the Exchange Act.


CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

     During the most recent fiscal quarter covered by this report, there has
been no change in the Company's internal control over financial reporting (as
defined in Rule 13a-15(f) or 15d-15(f) under the Exchange Act) that has
materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.


<PAGE> 27

                        PART II:  OTHER INFORMATION

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits:

                31.1   Certification of Bradley T Nielson, President and Chief
                       Executive Officer, pursuant to Rule 13a-14(a) of the
                       Exchange Act, as adopted pursuant to Section 302 of the
                       Sarbanes-Oxley Act of 2002.

                31.2   Certification of Paul R. Killpack, Chief Financial
                       Officer, pursuant to Rule 13a-14(a) of the Exchange
                       Act, as adopted pursuant to Section 302 of the
                       Sarbanes-Oxley Act of 2002.

                32.1   Certification of Bradley T Nielson, President and Chief
                       Executive Officer, pursuant to Section 1350, Chapter 63
                       of Title 18, United States Code, as adopted pursuant to
                       Section 906 of the Sarbanes-Oxley Act of 2002.

                32.2   Certification of Paul R. Killpack, Chief Financial
                       Officer, pursuant to Section 1350, Chapter 63 of Title
                       18, United States Code, as adopted pursuant to Section
                       906 of the Sarbanes-Oxley Act of 2002.

         (b)  Reports on Form 8-K

                On October 29, 2003 the Company filed a current report on Form
                8-K announcing its financial results for the second fiscal
                quarter of fiscal year 2004.

                On December 30, 2003 the Company filed a current report on
                Form 8-K announcing its reaching settlement in a patent
                infringement suit against Midwest Folding Products.



<PAGE> 28

                                  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.

                                        MITY Enterprises, Inc.


Date: January 28, 2004                  /s/ Bradley T Nielson
                                        ----------------------------------
                                        Bradley T Nielson
                                        President and Chief Executive Officer
                                        (Principal Executive Officer)


Date: January 28, 2004                  /s/ Paul R. Killpack
                                        ----------------------------------
                                        Paul R. Killpack
                                        Chief Financial Officer
                                        (Principal Financial and Accounting
                                        Officer)