<ARTICLE> 5
<LEGEND>
The schedule contains summary financial information extracted from the
Graham Corporation consolidated balance sheet and consolidated statement
of operations and retained earnings and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          MAR-31-1999
<PERIOD-END>                               DEC-31-1998
<CASH>                                           4,137
<SECURITIES>                                       200
<RECEIVABLES>                                    6,161
<ALLOWANCES>                                        12
<INVENTORY>                                      7,978
<CURRENT-ASSETS>                                19,766
<PP&E>                                          26,063
<DEPRECIATION>                                  15,814
<TOTAL-ASSETS>                                  32,697
<CURRENT-LIABILITIES>                            7,668
<BONDS>                                            645
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           169
<OTHER-SE>                                      16,590
<TOTAL-LIABILITY-AND-EQUITY>                    32,697
<SALES>                                         40,792
<TOTAL-REVENUES>                                40,792
<CGS>                                           29,083
<TOTAL-COSTS>                                   29,083
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                    10
<INTEREST-EXPENSE>                                 237
<INCOME-PRETAX>                                  2,167
<INCOME-TAX>                                       743
<INCOME-CONTINUING>                              1,424
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,424
<EPS-PRIMARY>                                      .88
<EPS-DILUTED>                                      .87