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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000007623-98-000006.txt : 19980723
<SEC-HEADER>0000007623-98-000006.hdr.sgml : 19980723
ACCESSION NUMBER:		0000007623-98-000006
CONFORMED SUBMISSION TYPE:	10-Q/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19980531
FILED AS OF DATE:		19980721
SROS:			NASD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARTS WAY MANUFACTURING CO INC
		CENTRAL INDEX KEY:			0000007623
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		IRS NUMBER:				420920725
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		10-Q/A
		SEC ACT:		
		SEC FILE NUMBER:	000-05131
		FILM NUMBER:		98669166

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 288
		CITY:			ARMSTRONG
		STATE:			IA
		ZIP:			50514
		BUSINESS PHONE:		7128643131

	MAIL ADDRESS:	
		STREET 1:		P O BOX 288
		CITY:			ARMSTRONG
		STATE:			IA
		ZIP:			50514
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q/A
<SEQUENCE>1
<TEXT>

   **** Note: Engineering Expense was ommitted on original filing **** 

                    SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C.   20549

                                FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
EXCHANGE ACT OF 1934


   For the Quarter Ended May 31, 1998           Commission File No. 0-5131


                     ART'S-WAY MANUFACTURING CO., INC.
          (Exact name of registrant as specified in its charter)


           DELAWARE                             42-0920725
    State of Incorporation            I.R.S. Employer Identification No.


    Hwy 9 West, Armstrong, Iowa                   50514
 Address of principal executive offices         Zip Code

     Registrant's telephone number, including area code: (712) 864-3131


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 
during the preceding 12 months, and (2) has been subject to such filling 
requirements for the past 90 days.  Yes  X  No __
 

Indicate the number of shares outstanding of each of the issuer's classes of 
common stock as of July 6, 1998: 

                                        								1,245,931
							                                       Number of Shares



                        ART'S-WAY MANUFACTURING CO., INC.
 
                       CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)
	
               			   Three Months Ended	                 Year To Date
	                      May 31     	May 31            	May 31        May 31		
		                      1998		      1997	            	 1998          1997	
													
NET SALES	         $ 6,872,111   $ 4,599,307      $11,660,133   $ 9,164,509
COST OF GOODS SOLD	  5,689,300     3,043,916        9,338,285     6,541,452
GROSS PROFIT	        1,182,811     1,555,391        2,321,848     2,623,057

EXPENSES:
   Engineering         144,479       124,906          266,286       216,536
   Selling	            338,215       401,344          687,698       752,366
   General and 
       administrative  612,085       534,249        1,197,547     1,114,483
        Total        1,094,779     1,060,499        2,151,531     2,083,385

INCOME FROM OPERATIONS  88,032       494,892          170,317       539,672
			
OTHER DEDUCTIONS:				
    Interest expense  (144,987)      (53,022)        (273,950)     (124,088)
    Other	             (32,796)      (97,789)         (57,720)     (107,176)
    Other deductions  (177,783)     (150,811)        (331,670)     (231,264)

INCOME (LOSS) BEFORE
    INCOME TAXES  	    (89,751)      344,081         (161,353)      308,408

INCOME TAX EXPENSE
   (BENEFIT)	          (31,413)      121,814          (56,473)      109,328

NET INCOME (LOSS)	$    (58,338)    $ 222,267      $  (104,880)    $ 199,080

INCOME (LOSS) PER SHARE (NOTE 2):
    Basic	        $     (0.04)    $    0.18      $     (0.08)    $    0.16 
    Diluted	      $     (0.04)   	$    0.18      $     (0.08)    $    0.16

COMMON SHARES AND EQUIVALENT OUTSTANDING:
    Basic	           1,245,931     1,238,405        1,245,931     1,238,022
    Diluted	         1,245,931     1,246,132        1,245,931     1,243,274



</TEXT>
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