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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


   
                                   FORM 10-Q/A
    

[MARK ONE]

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

         FOR THE QUARTERLY PERIOD ENDED MAY 31, 1996

[ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
         EXCHANGE ACT OF 1934

         FOR THE TRANSITION PERIOD FROM __________________ TO _________________


                         COMMISSION FILE NO. 000-20068

                            PRECISION SYSTEMS, INC.
             (Exact name of registrant as specified in its charter)
                                  
      DELAWARE                                       41-1425909
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)    


             11800 30TH COURT NORTH, ST. PETERSBURG, FLORIDA  33716
                    (Address of principal executive offices)

                                 (813) 572-9300
              (registrant's telephone number, including area code)


                                 NOT APPLICABLE
              (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 [X]   No [  ]

         APPLICABLE ONLY TO CORPORATE ISSUERS:  Indicate the number of shares
outstanding of each of the issuer's classes of capital stock as of the latest
practicable date.

         Total number of shares of outstanding capital stock as of July 12,
1996:

<TABLE>
         <S>                                                                                                   <C>
         Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  17,160,220
         Series A Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      10,000

</TABLE>

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                         PART II - OTHER INFORMATION


ITEM 2.  CHANGES IN SECURITIES

         None

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         None

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

         None

ITEM 5.  OTHER INFORMATION

         None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

   
         27     Financial Data Schedule (For SEC Use Only)
    




 
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                                   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.




                        PRECISION SYSTEMS, INC.
      
                         
                            
Date:   October 2, 1996    /s/ Russell I. Pillar
     -------------------   --------------------------------------------------
                           Russell I. Pillar, President and Chief Executive 
                           Officer
                             
                         
                         

                            
Date:   October 2, 1996    /s/ Steven H. Grant
     -------------------   --------------------------------------------------
                           Steven H. Grant, Senior Vice President and
                           Chief Financial Officer
                             
                         
                         
                         
   
Date:   October 2, 1996    /s/ Kenneth M. Clinebell
     -------------------   ---------------------------------------------------
                           Kenneth M. Clinebell, Vice President and Controller
                           (Principal Accounting Officer)
                                
                              
                              


                                      
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                                EXHIBIT INDEX



Exhibit
Number                                        Title
-------                                       -----
  27                           Financial Data Schedule (For SEC Use Only)