<PAGE>   1

                     SECURITIES AND EXCHANGE COMMISSION

                            Washington, DC 20549

                                  Form 10-Q

                 QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                   OF THE SECURITIES EXCHANGE ACT OF 1934


                   For the Quarter Ended December 31, 1995
                   ---------------------------------------

                       Commission File Number 0-10937
                       ------------------------------

                         SUN COAST INDUSTRIES, INC.
                         --------------------------
                         (Exact name of Registrant)



            Delaware                                 #59-1952968
---------------------------------      ----------------------------------------
    (State of Incorporation)               (IRS Employer Identification No.)



                2700 South Westmoreland Ave., Dallas, TX  75233
                -----------------------------------------------
                    (Address of principal executive offices)


                                (214) 373-7864          
                        -------------------------------
                        (Registrant's telephone number)



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  X     No 
                                   ---       ---

Indicate the number of shares outstanding of each of the issuers' classes of
common stock, as of February 9, 1996, the latest practable date.

            Class                           Outstanding at February 9, 1996
            -----                           -------------------------------

Common stock $0.01 par value                           4,004,229





                                       1
<PAGE>   2

                           SUN COAST INDUSTRIES, INC.
                                     INDEX





<TABLE>
<S>                                                                          <C>
Part I. Financial Information                                                
-----------------------------                                                
                                                                             
                                                                             
Item I - Financial Statements                                                
                                                                             
     Condensed Consolidated Balance Sheets -- December  31, 1995             
     and June 30, 1995                                                       3
                                                                             
     Condensed Consolidated Statements of Operations - Six Months            
     ended December 31, 1995 and 1994                                        
                                                                             
     Condensed Consolidated Statements of Operations -- Three  Months        
     ended  December 31, 1995 and 1994                                       5
                                                                             
     Condensed Consolidated Statements of Cash Flows -- Six                 
     Months ended December 31, 1995 and 1994                                 7
                                                                             
     Notes to Condensed Consolidated Financial Statements                    8
                                                                             
Item II - Management's Discussion and Analysis of Financial                  
     Condition and Results of Operations                                    12
                                                                             
                                                                             
Part II. Other Information                                                   
--------------------------                                                   
                                                                             
Items 1 through 6                                                           15
</TABLE>





                                       2
<PAGE>   3

PART I. FINANCIAL INFORMATION

Item I. FINANCIAL STATEMENTS



                           SUN COAST INDUSTRIES, INC.
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                             (dollars in thousands)       



<TABLE>
<CAPTION>
                                                                          December 31,
                                                                             1995                           June 30,
                                                                          (unaudited)                         1995 
                                                                          ------------                      --------
<S>                                                                       <C>                               <C>
ASSETS

Current assets:
  Cash and cash equivalents                                               $        899                      $  1,173
  Accounts receivable, net of allowance for                                           
    doubtful accounts of $146 and $312                                           8,439                         9,602
  Inventories                                                                   11,388                        13,248
  Other current assets                                                             329                           394
                                                                          ------------                      --------

      Total current assets                                                      21,055                        24,417


Property, plant and equipment, net of accumulated
  depreciation of $21,798 and $19,277                                           29,593                        29,739
Intangible assets                                                                1,019                         1,026
Other assets                                                                     1,835                         2,014
                                                                          ------------                      --------

      Total assets                                                        $     53,502                      $ 57,196
                                                                          ============                      ========
</TABLE>





          See accompanying notes to consolidated financial statements.





                                       3
<PAGE>   4
                           SUN COAST INDUSTRIES, INC.
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                    (dollars in thousands, except par value)      




<TABLE>
<CAPTION>
                                                                         December 31,
                                                                            1995                            June 30,
LIABILITIES AND STOCKHOLDERS' EQUITY                                     (unaudited)                          1995
                                                                         -----------                        --------
<S>                                                                       <C>                                <C>
Current liabilities:
  Accounts payable                                                        $    4,246                        $  4,456
  Accrued expenses                                                             1,909                           2,179
  Current portion                                                                    
    of long-term debt                                                          2,865                           2,958
  Deferred income taxes                                                          812                             879
                                                                         -----------                        --------

      Total current liabilities                                                9,832                          10,472
                                                                                     
Other liabilities                                                                 13                              57
Long-term debt                                                                25,565                          27,464
Deferred income taxes                                                          2,386                           2,430
                                                                         -----------                        --------

    Total liabilities                                                         37,796                          40,423
                                                                         -----------                        --------



Stockholders' equity:
  Common stock, $.01 par value; 40,000,000
     shares authorized; issued and outstanding,                                       
     3,998,229 and 4,005,629                                                      40                              40
  Additional paid-in capital                                                  11,189                          11,300
  Currency translation adjustment                                               (703)                              -
  Retained earnings                                                            5,180                           5,433
                                                                         -----------                        --------
      Total stockholders' equity                                              15,706                          16,773
                                                                         -----------                        --------

      Total liabilities and stockholders' equity                         $    53,502                        $ 57,196
                                                                         ===========                        ========
</TABLE>





          See accompanying notes to consolidated financial statements.





                                       4
<PAGE>   5



                           SUN COAST INDUSTRIES, INC.
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)
                 (dollars in thousands, except per share data)



<TABLE>
<CAPTION>
                                                                                       Six Months Ended
                                                                                         December 31,
                                                                                         ------------
                                                                             1995                             1994
                                                                            -------                          -------
<S>                                                                         <C>                              <C>
Sales                                                                       $37,951                          $43,579

Costs and expenses:
  Cost of sales                                                              31,542                           33,513
  Selling, general and administrative expense                                 5,872                            6,285
  Interest, net                                                                 943                              799
                                                                            -------                          -------

                                                                             38,357                           40,597
                                                                            -------                          -------

Income before income taxes                                                     (406)                           2,982
  Provision for income taxes                                                    155                           (1,068)
                                                                            -------                          -------

                Net (loss) income                                           $  (251)                         $ 1,914
                                                                            =======                          =======

Net (loss) income per common share                                          $ (0.06)                         $  0.47
                                                                            =======                          =======

</TABLE>



          See accompanying notes to consolidated financial statements.





                                       5
<PAGE>   6

                           SUN COAST INDUSTRIES, INC.
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)
                 (dollars in thousands, except per share data)



<TABLE>
<CAPTION>
                                                                                       Three Months Ended
                                                                                           December 31,
                                                                                          -------------
                                                                             1995                             1994
                                                                            -------                          -------
<S>                                                                         <C>                              <C>
Sales                                                                       $18,578                          $21,290

Costs and expenses:
  Cost of sales                                                              15,849                           16,602
  Selling, general and administrative expense                                 2,764                            3,002
  Interest, net                                                                 507                              414
                                                                            -------                          -------

                                                                             19,120                           20,018
                                                                            -------                          -------

Income before provision for income taxes                                       (542)                           1,272
  Provision for income taxes                                                    203                             (417)
                                                                            -------                          -------

                       Net (loss) income                                    $  (339)                         $   855
                                                                            =======                          =======

Net (loss) income per common share                                           ($0.08)                           $0.21
                                                                            =======                          =======

</TABLE> 



          See accompanying notes to consolidated financial statements.





                                       6
<PAGE>   7
                           SUN COAST INDUSTRIES, INC.
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)
                             (dollars in thousands) 


<TABLE>
<CAPTION>
                                                                                          Six Months Ended     
                                                                                             December 31,       
                                                                                            -------------       
                                                                                         1995           1994
                                                                                       --------       -------
<S>                                                                                    <C>            <C>
Cash flows from operating activities:
 
  Net (loss) income                                                                    $   (251)      $ 1,914
  Adjustments to reconcile net income to
    net cash provided by (used in) operations:
    Depreciation and amortization                                                         2,840         2,454
    Deferred taxes                                                                         (103)          (89)

  Changes in assets and liabilities:
    Accounts receivable                                                                     981          (635)
    Inventories                                                                           1,744        (2,236)
    Other current assets                                                                     63           280
    Intangible and other assets                                                            (117)          525
    Accounts payable and accrued expenses                                                  (541)       (3,325)
                                                                                       --------       -------


     Net cash provided by (used in) operations                                            4,616        (1,112)
                                                                                       --------       -------

Cash flows from investing activities:

  Capital expenditures                                                                   (2,641)       (4,416)
                                                                                       --------       -------

Net cash used in investing activities                                                    (2,641)       (4,416)
                                                                                       --------       -------

Cash flows from financing activities:

  Proceeds from long-term debt                                                              458         6,851
  Repayments of long-term debt                                                           (2,450)       (2,192)
  Issuance of Common Stock                                                                 (111)          245
                                                                                       --------       -------

      Net cash (used in) provided by financing activities                                (2,103)        4,904
                                                                                       --------       -------

      Effect of exchange rate changes on cash                                              (146)            -    
                                                                                                                 
      Change in cash and cash equivalents                                                  (274)         (624)   
     Cash and cash equivalents at beginning of period                                     1,173         1,824    
                                                                                       --------       -------
      Cash and cash equivalents at end of period                                       $    899       $ 1,200
                                                                                       ========       =======
</TABLE>





          See accompanying notes to consolidated financial statements.





                                       7
<PAGE>   8
                           SUN COAST INDUSTRIES, INC.
             NOTES TO  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                               DECEMBER  31, 1995              



NOTE 1 - THE BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


     Basis of Presentation

     The Company's (defined below) interim financial statements are unaudited
     and should be read in conjunction with the consolidated financial
     statements and notes thereto in its Form 10-K and Annual Report to
     Stockholders for the year ended June 30, 1995.

     In the opinion of management, the accompanying consolidated financial
     statements contain all adjustments, consisting only of those of a normal
     recurring nature, necessary for a fair statement of the results of
     operations for the interim periods presented.


     Description of Business

     Sun Coast Industries, Inc. (the "Company") manufactures and sells melamine
     and urea resins and compounds and, from these and other materials, molds
     consumer products and commercial plastic products, including dinnerware,
     drinkware and closures.  The Company has manufacturing facilities in
     Texas, Florida, Tennessee and Mexico and offers its products through five
     divisions.  The Chemical Division manufactures melamine and urea resins
     and compounds, which it supplies to other manufacturers and uses in
     producing its own Consumer Products and Foodservice products.   The
     Consumer Products and Foodservice Divisions manufacture compression molded
     melamine dinnerware and injection molded plastic drinkware, which the
     Company sells to retail and commercial markets.  The Closures Division
     manufactures linerless, foil or foam lined and tamper-evident plastic
     closures and lids.  These closures are used to bottle or package food,
     beverage, chemical and pharmaceutical products. The Custom Laminates
     Division is a start-up division employing the Company's proprietary
     process that permits lamination of images in a range of design, color and
     detail for use in furniture and countertops.  No significant sales have
     been generated for this latest division to date.


     Industry Segment

     The Company operates in a single industry segment, supplying consumer and
     commercial related plastic products on a direct and indirect basis,
     utilizing similar production processes and methods.





                                       8
<PAGE>   9
                           SUN COAST INDUSTRIES, INC.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                              DECEMBER  31, 1995        




NOTE 1 - THE BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd)

     Principles of Consolidation

     The consolidated financial statements include the accounts of the Company
     and its subsidiaries, all of which are wholly-owned.  All significant
     intercompany balances and transactions have been eliminated in
     consolidation.  Certain amounts in previously issued financial statements
     have been reclassified to conform with the current period financial
     statement presentation.

     Inventories

     Inventories are valued at the lower of cost or market, with cost
     determined utilizing the first-in, first-out (FIFO) method.

     Property, Plant and Equipment

     Property, plant and equipment are carried at cost and depreciated using
     the straight-line method over the estimated useful lives of the related
     assets.  Lives assigned to asset categories are 5 to 15 years for
     machinery and equipment, 30 to 35 years for buildings and 5 years for
     molds.  Machinery and equipment under capital leases are stated at the
     present value of minimum lease payments.  Renewals and improvements that
     significantly add to the productive capacity or extend the useful life of
     an asset are capitalized.  Repairs and maintenance are charged to expense
     as incurred.

     Intangible Assets

     Intangible assets are stated at cost and  consist primarily of patents and
     goodwill. Intangible assets are amortized on the straight-line method over
     their estimated useful lives.  The carrying values and amortization
     periods of intangibles are periodically evaluated by the Company to
     determine whether current events and circumstances warrant adjustment.





                                       9
<PAGE>   10
                           SUN COAST INDUSTRIES, INC.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                               DECEMBER  31, 1995



NOTE 1 - THE BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd)

     Advertising Costs

     The Company expenses the costs of advertising as incurred, except for
     direct-response advertising and catalog costs which are capitalized and
     amortized over their expected periods of future benefit (generally six
     months).  Direct response advertising and catalog costs consist primarily
     of printing and contract services for catalogs to market the Company's
     products.

     Income Taxes

     Deferred income taxes are provided for temporary differences between
     financial and tax reporting.  Income taxes are provided for taxes
     currently payable based on taxable income.

     Environmental Costs

     A liability for environmental assessments and/or cleanup is accrued when
     it is probable a loss has been incurred and is estimable.  No significant
     liabilities were in existence at December 31, 1995 and June 30, 1995.

     Net Income (Loss) Per Common Share

     Net income per common share is computed by dividing net income by the
     weighted average number of common shares outstanding during each period
     after giving effect to stock options and warrants considered to be
     dilutive common stock equivalents.  There were 4,079,355 and 4,117,347
     weighted average shares outstanding for the six months ended December 31,
     1995 and 1994, respectively.  The weighted average number of common shares
     outstanding was 4,082,139 and 4,090,310 for the three months ended
     December 31, 1995 and 1994, respectively. Primary and fully diluted net
     income per common share amounts are the same.





                                       10
<PAGE>   11
                           SUN COAST INDUSTRIES, INC.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                               DECEMBER 31, 1995



NOTE 1 - THE BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd)

     Revenue Recognition

     Sales are recognized when the product is shipped.

     Research and Development

     Research and development costs associated with new product development and
     testing are expensed as incurred.

     Statement of Cash Flows

     For purposes of the statements of cash flows, the Company considers all
     highly liquid investments with original maturities of three months or less
     to be cash equivalents.

     Foreign Currency Translation and Transactions

     The Company's foreign subsidiary uses the local currency as the functional
     currency.  Translation gains or losses are included as a component of
     stockholders' equity.  Gains or losses from foreign currency transactions
     are included in net income.


NOTE 2 - INVENTORIES

<TABLE>
<CAPTION>
                                                                        December 31,
                                                                           1995                          June 30,
                                                                        (unaudited)                        1995
                                                                        -----------                      --------
                                                                                        (in thousands)
          <S>                                                           <C>                              <C>
          Raw Materials                                                 $ 4,253                          $ 5,224           
          Work-in-process                                                   302                              806           
          Finished  good                                                  7,573                            7,792           
                                                                        -------                          -------           
                                                                         12,128                           13,822           
          Obsolescence reserve                                             (740)                            (574)          
                                                                        -------                          -------           
                                                                        $11,388                          $13,248           
                                                                        =======                          =======           
</TABLE>                                                                       
                                                                               




                                       11
<PAGE>   12
Item II. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS


   Three Months Ended December 31, 1995, Compared to the Three Months Ended
                              December 31, 1994


     Sales for the three months ended December 31, 1995, decreased $2,712,000
     or 12.7%, when compared to the same period in 1994.  Closure Division's
     sales decreased 3.1% due to decreased demand.  Consumer Products and
     Foodservice Divisions' sales decreased  24.4%. as a result of the downturn
     in the retail economy and because of significant children's licensed
     product sales in the 1994 period that did not recur in the 1995 period.
     Chemical Division's sales decreased 16.5% due to a weak housing market and
     customer efforts to better manage their inventory to lower levels.

     Cost of sales as a percentage of net sales increased to 85.3% from 78.0%.
     The decline in gross margin was the direct result of raw material price
     increases in the current quarter over the comparable prior year quarter as
     well as volume declines in most product lines.  Substantially all of the
     Company's major raw materials incurred unprecedented and repeated price
     increases over the past nine months ranging from 10% to 110%. The most
     dramatic increases occurred in the prices of melamine and formaldehyde.
     Increased foreign demand for melamine due to the weakening of the dollar
     affected the domestic price of melamine and a world-wide shortage of
     methanol, a key component of formaldehyde, caused formaldehyde price
     increases.  Pulp also experienced significant increases in price due to
     paper industry shortages.  While the Company is currently experiencing
     some declines in raw material costs, other costs continue to increase and
     the overall impact to future earnings is not predictable.

     Because of the significant increases in raw material costs,  the Company
     raised its prices to its customers during the third and fourth quarters of
     fiscal 1995 and as a result, the volume of orders has continued to decline
     compared to levels a year ago.

     Selling, general and administrative expense ("SG&A") decreased $238,000
     but increased to 14.9% of sales for the three months ended December 31,
     1995 as compared to 14.1% of sales for the three months ended December 31,
     1994.

     Interest expense has increased 22.5% to $507,000 for the three months
     ended December 31, 1995 from $414,000 for the three months ended December
     31, 1994 due to increased borrowings and higher interest rates on
     outstanding loan amounts.

     Net income decreased $1,194,000 from the comparable prior fiscal period
     primarily because of the impact on gross margin of raw material price
     increases and depressed sales volumes.





                                       12
<PAGE>   13
      Six Months Ended December 31, 1995, Compared to the Six Months Ended
                               December 31, 1994

     Sales decreased 12.9% to $37.9 million for the six months ended December
     31, 1995, from $43.6 million for the six months ended December 31, 1994.
     Sales in the Chemical Division decreased by 12.4% for the six months ended
     December 31, 1995 from the same period in 1994, primarily as a result of
     decreased industry demand.  Sales in the Consumer Products and Foodservice
     Divisions decreased by 36.2% for the six months ended December 31, 1995
     from the same period in 1994, resulting from a sluggish retail economy and
     reduced demand.  Sales in the Closures Division increased 1.8% for the six
     months ended December 31, 1995 from the same period in 1994.

     Cost of sales as a percentage of sales increased to 83.1% for the six
     months ended December 31, 1995 from 76.9% in the same period in 1994.  The
     decrease in gross margin was primarily the result of raw material price
     increases and decreased production volumes.  While raw materials prices
     have increased significantly during the past year and may increase
     further, the Company cannot predict future trends with any certainty.

     Selling, general and administrative expense ("SG&A") decreased by 6.6% for
     the six months ended December 31, 1995 from the same period in 1994.  SG&A
     increased as a percentage of sales to 15.5% for the six months ended
     December 31, 1995 from 14.4% for the six months ended December 31, 1994,
     due to certain fixed administrative costs.

     Interest expense increased 18.0% for the six months ended December 31,
     1995 from the same period in 1994 due to increased borrowing and higher
     interest rates on outstanding loan amounts.  The average borrowing during
     the six months ended December 31, 1995 was $28.9 million compared to $24.5
     million during the same period in 1994.

     Net income decreased $2,165,000 for the six months ended December 31, 1995
     from the six month period ended December 31, 1994 as a result of lower
     sales volumes and the other factors described above.





                                       13
<PAGE>   14
     Liquidity and Capital Resources

     Management reviews the Company's working capital, accounts receivable and
     relationship of debt to equity on a continuing basis.  The Company's
     growth has been financed through long-term debt financing and cash
     generated from operations.  During the six months ended December 31, 1995,
     the Company reduced net borrowings by $2.0 million.  Cash flow from
     operations generated $4.9 million.

     Capital expenditures for the six months ended December 31, 1995 were $2.4
     million.  Anticipated future capital additions should approximate $1
     million for the remainder of fiscal 1996 and management anticipates
     current debt capacity and cash flow from operations should be adequate to
     fund this level of expenditure.

     In December 1995, the Company refinanced its existing debt with a new
     lender and increased its credit facility to provide a total of $35.7
     million in borrowings secured by substantially all the assets of the
     Company.  The facility provides for borrowings under three separate
     arrangements - (i) two separate one-time term advances in an aggregate
     principal amount of $6.7 million  payable in quarterly installments
     through April 1, 2001, (ii) multiple term advances for capital
     expenditures in an aggregate principle amount of $14 million payable in
     quarterly installments over 2 to 7 years, and (iii) a $15.0 million
     revolving loan, due December 31, 1998.  As of December 31, 1995,
     outstanding borrowings under the credit facility included $6.7 million
     under the two term loans, $8.1 million under the capital expenditure term
     loan and $10.2 million under the revolving credit line.  At December 31,
     1995, based on the Company's borrowing formula incremental borrowing
     availability was approximately $4.1 million under the revolving credit
     line.  The credit facility provides for the issuance of up to $2.0 million
     of letters of credit, subject to the borrowing availability under the
     revolving credit line.  The loan agreement contains various covenants,
     including maintaining certain financial ratios and tests, limitation on
     the issuance of debt and the amount of capital expenditures, capital
     leases, investments and dividends.  The primary financial covenants
     include quarter end calculations of leverage and fixed charge coverage.

     On the basis of its current forecast of financial position and results of
     operations through December 31, 1996, the Company believes that it will
     maintain compliance with its restrictive covenants through that date;
     however, risks inherent in the Company's business -- including the high
     level of competition in its markets, Mexican currency fluctuations, its
     reliance on certain key customers, management disruption including any
     resulting from the resignation of Carter Pate as CEO and the recent trend
     of increasing raw materials prices -- may negatively impact the Company's
     performance and result in non-compliance with the covenants. In the event
     of non-compliance, management intends to seek the necessary waivers or
     amendments such that the loan agreement will continue to be available to
     fund its working capital requirements. However, no assurances can be given
     that such waivers or amendments will be granted. 



                                       14
<PAGE>   15
                           SUN COAST INDUSTRIES, INC.
                               DECEMBER 31, 1995



PART II - OTHER INFORMATION


     Item 1 - Legal Proceedings

     None.

     Item 2 - Changes in Securities

     On June 6, 1995, the Board of Directors of the Company declared a dividend
     of one common stock purchase right (a "Right") for each outstanding share
     of common stock, par value $.01 per share (the "Common Stock"), of the
     Company.  The dividend was paid on July 6, 1995, to stockholders of record
     of the Common Stock on that date.  The description and terms of the Rights
     are set forth in a Rights Agreement (the "Rights Agreement") between the
     Company and American Stock Transfer & Trust Company, as Rights Agent (the
     "Rights Agent"), a copy of which has been filed with the Securities and
     Exchange Commission as an Exhibit to a Current Report on Form 8-K; Date of
     Report (Date of earliest event reported:  June 6, 1995).

     On December 5, 1995, the Board of Directors of the Company approved
     Amendment No. 1 to the Rights Agreement between the Company and the Rights
     Agent (the "Amendment").  The Amendment amends the Rights Agreement in two
     ways.  First, James M. Hoak has been excluded from the definition of
     "Acquiring Person" as set forth in Section 1(a) of the Rights Agreement
     unless and until Mr. Hoak, together with any of his affiliates or
     associates, acquires twenty percent (20%) or more of the outstanding
     Common Stock of the Company.  Second, the Amendment otherwise lowers the
     threshold of beneficial ownership of an "Acquiring Person" for triggering
     the flip-in provisions of the Rights Agreement from twenty percent (20%)
     to fifteen percent (15%).  Under the Rights Agreement before the
     Amendment, the flip-in provisions of the Rights Agreement were not
     triggered until an Acquiring Person owned twenty percent (20%) or more of
     the outstanding Common Stock of the Company.  A copy of the Amendment has
     been filed with the Securities and Exchange Commission as an Exhibit to a
     Current Report on Form 8-K; Date of Report (Date of earliest event
     reported:  December 5, 1995).

     Item 3 - Defaults Upon Senior Securities

     None.

     Item 4 - Submission of  Matters to a Vote of Security Holders

     None.





                                       15
<PAGE>   16
     Item 5 - Other Information

     On February 1, 1996 the President and Chief Executive Officer, R. Carter
     Pate, resigned.  In connection with his resignation, Mr. Pate received a
     payment of $350,000.  James H. Miller has been appointed interim President
     and Chief Executive Officer.

     Item 6 - Exhibits and Reports in Form 8K

     (a)   Exhibits:

           10.1  Loan Agreement Among Comerica Bank - Texas, Sun Coast
           Holdings, Inc., the Company, Sun Coast Closures, Inc., Plastics
           Manufacturing Company and Sun Coast Acquisitions, Inc. dated
           December 20, 1995 (the "Loan Agreement").

           10.2  Letter dated February 12, 1996, amending Loan Agreement.

           27  Financial Data Schedule

     (b)   A Form 8-K was filed on December 20, 1995 reporting Amendment No. 1
           to the Company's Stockholder Rights Agreement.  See Item 2 above.





                                       16
<PAGE>   17
                                   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.

                  
                      Sun Coast Industries, Inc. 
                      ---------------------------------------------------------
                      Registrant
                  
                  
 2/13/96              By: /s/ JAMES H. MILLER  
---------                ------------------------------------------------------
  Date                   James H. Miller, Chief Executive Officer and President
                  
                  
 2/13/96              By: /s/ CYNTHIA R. MORRIS    
---------                ------------------------------------------------------
  Date                    Cynthia R. Morris, CFO, Secretary and Treasurer
                 




                                       17
<PAGE>   18
                                EXHIBIT INDEX


EXHIBIT NO.             DESCRIPTION
-----------             -----------

   10.1                 Loan Agreement Among Comerica Bank

   10.2                 Letter dated February 12, 1996 amending Loan Agreement

   27                   Financial Data Schedule