WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE>   5
       
                                      
<PERIOD-TYPE>                            YEAR
<FISCAL-YEAR-END>                  JUN-30-1997
<PERIOD-END>                       DEC-31-1997
<CASH>                                 102,000
<SECURITIES>                         3,215,000
<RECEIVABLES>                        2,589,000
<ALLOWANCES>                                 0
<INVENTORY>                         38,322,000
<CURRENT-ASSETS>                    45,223,000
<PP&E>                               1,022,000
<DEPRECIATION>                          28,000
<TOTAL-ASSETS>                      45,357,000
<CURRENT-LIABILITIES>               29,065,000
<BONDS>                                      0
<PREFERRED-MANDATORY>                        0
<PREFERRED>                                  0
<COMMON>                               738,000
<OTHER-SE>                          15,637,000
<TOTAL LIABILTIES-AND-EQUITY>       45,357,000
<SALES>                              4,254,000
<TOTAL-REVENUES>                     4,254,000
<CGS>                                2,794,000
<TOTAL-COSTS>                        2,794,000
<OTHER-EXPENSES>                       575,000
<LOSS-PROVISION>                             0
<INTEREST-EXPENSE>                     462,000
<INCOME-PRETAX>                        805,000
<INCOME-TAX>                            97,000
<INCOME-CONTINUING>                    263,000
<DISCONTINUED>                          15,000
<EXTRAORDINARY>                              0
<CHANGES>                                    0
<NET-INCOME>                           151,000
<EPS-PRIMARY>                              .01
<EPS-DILUTED>                              .01