<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 1996 ANNUAL REPORT TO SHAREHOLDERS. </LEGEND> <CIK> 0000039092 <NAME> FRIEDMAN INDUSTRIES, INCORPORATED <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> MAR-31-1996 <PERIOD-START> APR-01-1995 <PERIOD-END> MAR-31-1996 <EXCHANGE-RATE> 1 <CASH> 595,216 <SECURITIES> 0 <RECEIVABLES> 9,423,204 <ALLOWANCES> 0 <INVENTORY> 17,391,625 <CURRENT-ASSETS> 27,524,670 <PP&E> 14,584,985 <DEPRECIATION> 9,316,572 <TOTAL-ASSETS> 32,812,986 <CURRENT-LIABILITIES> 6,410,527 <BONDS> 5,400,000 <COMMON> 5,834,195 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 14,594,741 <TOTAL-LIABILITY-AND-EQUITY> 32,812,986 <SALES> 106,849,181 <TOTAL-REVENUES> 106,849,181 <CGS> 98,435,636 <TOTAL-COSTS> 102,003,421 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 617,629 <INCOME-PRETAX> 4,298,132 <INCOME-TAX> 1,461,364 <INCOME-CONTINUING> 2,836,768 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,836,768 <EPS-PRIMARY> .46 <EPS-DILUTED> .46