<ARTICLE> 5 <LEGEND> This financial data schedule contains summary financial information extracted from the consolidated financial statements included in P & F Industries, Inc.'s quarterly report on Form 10-Q for the quarter ended March 31, 1998 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> JUN-30-1998 <CASH> 1,614,934 <SECURITIES> 0 <RECEIVABLES> 6,685,188 <ALLOWANCES> 0 <INVENTORY> 17,014,295 <CURRENT-ASSETS> 25,937,829 <PP&E> 11,549,098 <DEPRECIATION> 5,618,720 <TOTAL-ASSETS> 34,782,929 <CURRENT-LIABILITIES> 8,580,643 <BONDS> 3,677,797 <PREFERRED-MANDATORY> 3,239,345 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 18,841,144 <TOTAL-LIABILITY-AND-EQUITY> 34,782,929 <SALES> 24,307,528 <TOTAL-REVENUES> 24,538,496 <CGS> 14,821,150 <TOTAL-COSTS> 14,821,150 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 243,827 <INCOME-PRETAX> 2,769,787 <INCOME-TAX> 1,039,000 <INCOME-CONTINUING> 1,730,878 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,730,878 <EPS-PRIMARY> .54 <EPS-DILUTED> .47