<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM (A)
FORM 10K - YEAR ENDED MARCH 31, 1998.
</LEGEND>
<CIK> 0000039092
<NAME> FRIEDMAN INDUSTRIES INCORPORATED
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               MAR-31-1998
<CASH>                                       1,361,693
<SECURITIES>                                         0
<RECEIVABLES>                               13,205,113
<ALLOWANCES>                                         0
<INVENTORY>                                 24,586,863
<CURRENT-ASSETS>                            39,347,548
<PP&E>                                      17,079,818
<DEPRECIATION>                              10,468,859
<TOTAL-ASSETS>                              46,039,361
<CURRENT-LIABILITIES>                       13,437,178
<BONDS>                                      6,366,666
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     6,491,808
<OTHER-SE>                                  19,241,149
<TOTAL-LIABILITY-AND-EQUITY>                46,039,361
<SALES>                                    148,840,724
<TOTAL-REVENUES>                           148,840,724
<CGS>                                      135,981,231
<TOTAL-COSTS>                              141,174,457
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             431,498
<INCOME-PRETAX>                              7,287,869
<INCOME-TAX>                                 2,477,877
<INCOME-CONTINUING>                          4,809,992
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 4,809,992
<EPS-PRIMARY>                                      .71
<EPS-DILUTED>                                      .69