FORM 10QSB 
SECURITIES AND EXCHANGE COMMISSION 
WASHINGTON, DC  20549 


                     Quarterly Report Under Section 13 or 
                   15(d) of the Securities Exchange Act of 
                                    1934 
                       For Quarter Ended August 31, 1997 
                       Commission File Number 0-9599 
HIA, INC. 


(Exact name of registrant as specified in its 
charter) 
New York				         16-1028783 


State or other jurisdiction of  I.R.S.       
Employer Identification 
incorporation or organization   Number 
	4275 Forest Street 
Denver, Colorado 80216 


(Address of principal executive offices, zip code) 
							(303) 394-6040 
(Registrant's telephone number, including area code) 
(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 such shorter period that the registrant was required  
to file such reports), and (2) has been subject to such filing  
requirements for the past 90 days.  Yes__X__   No_____ 


			Indicate the number of shares outstanding of each of the 
issuer's 
classes of common stock, as of the latest practicable date: 10, 
303,383 shares of the Registrant's $.01 par value common  
stock were outstanding at August 31, 1997 
								HIA, INC. 
									INDEX 
Part 1.  Financial Information 
				Item	1.  Financial Statements..
				Item	2.  Management's Discussion and Analysis of 


	Financial Condition and Results 
of Operations. . ... .	. . .
Part	2.  Other Information 
								Item 6.  Exhibits. .. . . ...	. . . . . 
Part	1. 
Item	1.  Financial Statements 
Consolidated Balance Sheets as of November 30,   
1996 and August 31, 1997. .. .	. . . . . . . 


Consolidated Statement of Earnings for the nine months 
ended August 31, 1996 and August 31, 1997 and the 
three months ended August 31, 1996 and August 31, 
1997. 
Consolidated Statement of Cash Flows for the nine-
months ended August 31, 1996 and August 31, 1997.. 
 ... .
<TABLE> 
<CPATION> 
HIA, INC. AND SUBSIDIARIES 


CONSOLIDATED BALANCE SHEET 
(Information as of November 30, 1995 is based upon an 
audited balance sheet.		All other information is 
unaudited.) 


< 
											August 31,      November 
30, 
ASSETS									   1997           1996 
<S> 
Current Assets:				<C>              <C> 
	Cash							                $       2,650     $141,584 
 Receivables								 2,546,876      
1,528,131 
	Inventories							 3,768,598      
2.078,802 
	Other current assets				   301,508        
116,418 
-----------------------------------------------------------------------
- Total current assets			$ 6,619,632    $ 
3,864,935 
Property, Plant & Equipment, at cost: 
	Land and improvements			$    45,295     $   
45,295 
	Buildings								   253,275        
237,361 
	Equipment								   421,605        
366,591 
-----------------------------------------------------------------------
- $  720,175       
$649,247 
		Less accumulated depreciation and 
			amortization				$ (508,081)    
$(485,105) 
-----------------------------------------------------------------------
- Net property, plant and 
				equipment				   212,094       164,142 
Other Assets/Investments				     83,930       75,544 
TOTAL ASSETS								 $6,915,656      
$4,104,621 
=======================================================================
= ====== 
</TABLE> 
The accompanying notes are an integral part of the Consolidated 
Financial Statements. 
<TABLE> 
<CAPTION> 


HIA, INC. AND SUBSIDIARIES 
CONSOLIDATED BALANCE SHEET (Continued) 
(Information as of November 30, 1996 is based upon an audited 
balance sheet.  All other information is unaudited). 
			August 31,          
November 30, 


LIABILITIES		1997                1996    
<S> 
Current Liabilities:	<C>                <C>        
	Notes payable to banks                     $ 2,213,613         $  
878,613 
Accounts payable	 1,406,182            
603,820 
Accrued expenses & other 
		liabilities		 640,379            
354,837 ------------------------------------------------------------------
---------- 
Total current liabilities                    $ 4,260,174          
1,837,270 
STOCKHOLDERS' EQUITY 
Common Stock of $.01 par value 


	Authorized 20,000,000 shares; 
	issued and outstanding 10,303,383		  131,079           
131,079 
Additional paid-in capital		3,109,271         
3,109,271 
Accumulated Deficit		  152,088        (  
236,043) -------------------------------------------------------------
--------------- 
				3,392,438         
3,004,307 
LESS: Treasury Stock:4,004,513 Shares	 (  736,956)       (  
736,956) 
	TOTAL Stockholders Equity		2,665,482         
2,267,351 
======================================================================
== ====== 
TOTAL LIABILITIES AND  
STOCKHOLDERS' EQUITY                         $  6,915,656      $  
4,104,621 
</TABLE> 
[CAPTION] 
The accompanying notes are an integral part of the Consolidated 
Financial Statements. 
<TABLE> 


HIA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF EARNINGS 
			Nine Months Ended	  Three Months 
Ended 
		August 31,   August 31     August 31,    August 
31, 
			1997         1996	1997           1996   
<S>                   <C>           <C>           <C>           <C> 


Net Sales            $ 13,455,124   $13,137,931    $6,255,727     
6,116,550 
Cost of Sales          (9,119,186)  (9,008,605)   (4,291,160)    
(4,241,062) 
Gross Profit	4,335,938    4,129,326     1,964,567      
1,875,488 
Selling, general  
&	admin.expenses      ( 3,613,113   (3,181,572)   (1,436,352)    
(1,332,028)  
Operating Profit  
(Loss)	  722,825      947,754	528,215        
543,460   
Other Income (Deductions): 
Interest income           12,723       10,764         4,514          
7,121   
Misc. income (expense)		14,597       10,827	  5,745          
5,497 
Total other income 
(deductions)	  (81,703)    ( 67,103)	(38,759)       
(24,991)   
Income before taxes	  641,122      880,651	489,456        
518,469 
Income Taxes	  252,991      351,000	203,991        
209,750   
NET INCOME	  388,131      529,651	285,465        
308,719   
=======================================================================
= ====== 
Income per common  
share                $		   .04     $    .05	$   .03       $     
03 
Income per common share 
	fully diluted		   .04          .05	    .03             
03 
-----------------------------------------------------------------------
------ 
Weighted Average Share 
Outstanding            10,303,383   10,443,394     10,303,383    
10,443,394 
Fully diluted shares 
	outstanding          10,303,383   11,043,394     10,303,383    
11,043,394 
</TABLE> 
The accompanying notes are an integral part of the Consolidated 


Financial Statements. 
<TABLE> 
<CAPTION> 
HIA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS 
	For the nine months 
ended August 31,      
August 31, 
1997           1996 
OPERATING ACTIVITIES: 


<S>                                 <C>             <C>                  
Net Income before  
extraordinary item		 388,131       $  529,651             
	Adjustments to reconcile  
net income to net 
cash used by operating  
activities 
Depreciation  and amortization		  22,976           10,170             
Changes in current  
assets and current			                                   
liabilities 
		Accounts receivable		 (1,018,745)      (1,085,164) 
		Inventories		 (1,689,796)      (1,483,621) 


		Other current assets		 (  185,090)      (  222,738) 
		Accounts payable			 802,362          974,962 
		Other current liabilities			 285,542          289,072 
----------------------------------------------------------------------
------- 
	NET CASH PROVIDED BY  
OPERATING ACTIVITIES		 (1,394,620)      (  987,688) 
INVESTING ACTIVITIES 
(Purchase) Disposal of property and equipment              (70,928)   
(			49,885) 
	Proceeds from the sale of property, plant and 


			equipment			                          0             
0 
	(Increase)Decrease in other noncurrent assets              ( 8,386)     
(	 3,242) 
	Notes Payable to Banks			                  1,335,000       
970,500 ------------------------------------------------------------------------
----------------------- 
NET CASH USED BY INVESTING ACTIVITIES		                  1,255,686       
917,373 
FINANCING ACTIVITIES 
	Repayments of long-term obligations		                          0     
(			 6,504) 
	Proceeds from sale of Treasury Stock	                          0              
0			  
	Purchases of Treasury Stock			                          0     
(			 8,418)  
--------------------------------------------------------------------------------
--------------- 
NET CASH USED BY FINANCING ACTIVITIES		                          0     
(			14,922) 
NET INCREASE (DECREASE)IN CASH AND CASH EQUIV               (138,934)    
(			85,217) 
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR                 141,584        
115,112 
CASH AND CASH EQUIVALENTS, END OF QUARTER                      2,650         
29,895 


----------------------------------------------------------------------
------------------------- 
</TABLE> 
The accompanying notes are an integral part of the Consolidated 
Financial Statements. 
HIA, INC. AND SUBSIDIARIES 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 
A.  Basis for Presentation 
The accompanying consolidated financial statements have been 
prepared in accordance with the  
instructions of Form 10-Q and do not include all the information and 
footnotes required by  
generally accepted accounting principles for complete financial 
statements.  In the opinion of  
manage-ment, all adjustments (consisting of normal recurring 
adjustments) considered necessary  
for fair presentation have been included.  Operating results for the 
nine months ended August  
31, 1997 are not necessarily indicative of the results  that may be 
obtained for the year ending  
November 30, 1997  These statements should be read in conjunction with 
the financial statements  
and notes thereto included in the Registrant's Form 10-K filed with 
the Securities and Exchange  


Commission on February 25, 1997. 
Item 2.  Management's Discussion and Analysis of Financial 
			Condition and Results of Operations 
		The Registrant's working capital increased by $331,793 during the 
nine months ended August  
31, 1997 principally as a result of the following factors: 
(1) An operating cash income of $411,107 
(2) Additions to other noncurrent assets of $8,386 
(3) Additions to property, plant & equipment of $70,928 
At August 31, 1997, the Company's subsidiary had lines of credit 
totaling $4,000,000 of  
which approximately $1,700,000 was available for future borrowings.  
The lines of credit are  


guaranteed by the Company. 
Results of Operations 
		Net sales for the three months ended August 31, 1997 were 
up $139,177 or 2% more than the  


third quarter of 1996. 
		The gross profit was 31.4% during the three months ended August 
31, 1997, compared to the  
third quarter of 1996 at 30.7% of net sales. 
		The selling, general and administrative expenses were up $89,079 
or 4.7% for the quarter  
ended August 31, 1997 over the third quarter of the previous year, 
primarily due to the  
additional expense of setting up new branch operations located in 
Colorado Springs  and  
Broomfield, Colorado.  Other deductions were up $13,768  as compared to 
the third quarter of  


1996. 
	Net income from operations for the third quarter of 1997 
was $23,254 lower than the third  


quarter of the previous year 
Statement of Cash Flow 
	The significant increase in net borrowings from banks of $364,500 
for the first nine months  
of 1997 over the first nine months of 1996 was due principally to the 
increase in net inventory  
purchases for the same periods of $206,175 and the decrease in net 
accounts payable of $172,600. 
The opening of the branch operations in 1997 increased base 
inventory levels by  
approximately $300,000.  Larger orders placed with manufacturers in 
the fall of 1996 for  
winter/spring shipments in 1997 on "early buy" incentive programs 
(tied to previous years sales  
levels of the manufacturers products) dictated higher inventory levels 
and faster payment than  


normal on these purchases. 
As a result of the aforementioned interest expense increased 
$20,329 in 1997 over  
comparable nine months of the previous year. 
Part II 
Item 6.     Exhibits 
(a)     The following exhibits are filed with this report 
		NONE 
SIGNATURES 
Pursuant to the requirements of the Securities Exchange Act of 1934, 
the Registrant has duly  
caused this report to be signed on its behalf by the undersigned 
hereunto duly authorized. 
 HIA, INC. 
Date_----------------- 
Alan C. Bergold, 
Chief Financial Officer & 
President