<ARTICLE> 5
<LEGEND>
This restated financial data schedule contains summary financial information
extracted from the consolidated financial statements included in P & F
Industries, Inc.'s Annual Report on Form 10-K for the years ended December 31,
1996 and December 31, 1995 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<RESTATED>
<PERIOD-TYPE> YEAR YEAR
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1995
<PERIOD-END> DEC-31-1996 DEC-31-1995
<CASH> 4,558,135 1,224,603
<SECURITIES> 0 0
<RECEIVABLES> 6,113,259 9,163,246
<ALLOWANCES> 0 0
<INVENTORY> 11,119,850 14,903,561
<CURRENT-ASSETS> 22,343,094 26,147,398
<PP&E> 10,745,608 10,893,043
<DEPRECIATION> 4,965,956 4,760,074
<TOTAL-ASSETS> 31,331,643 35,415,672
<CURRENT-LIABILITIES> 6,661,311 10,309,671
<BONDS> 5,288,570 7,414,181
<PREFERRED-MANDATORY> 0 0
<PREFERRED> 2,633,450 2,633,450
<COMMON> 2,928,867 2,928,867
<OTHER-SE> 13,819,445 12,129,503
<TOTAL-LIABILITY-AND-EQUITY> 31,331,643 35,415,672
<SALES> 42,650,342 42,645,954
<TOTAL-REVENUES> 43,078,371 43,047,601
<CGS> 28,698,300 29,015,050
<TOTAL-COSTS> 28,698,300 29,015,050
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 754,069 1,021,400
<INCOME-PRETAX> 3,187,287 2,345,975
<INCOME-TAX> 1,234,000 854,000
<INCOME-CONTINUING> 1,953,287 1,491,975
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 1,953,287 1,491,975
<EPS-PRIMARY> .58 .42
<EPS-DILUTED> .52 .39
<FN>
<F1> ACCOUNTS RECEIVABLE ARE NET OF ALLOWANCE
</FN>