<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