FORM 10-QSB/A
                                
               SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C.   20549
                  _____________________________
                                
     [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
     OF
          THE SECURITIES EXCHANGE ACT OF 1934
     
          For The Quarterly Period Ended June 30, 1995
                                
                                
                                
                  _____________________________
                                
                 Commission File Number 0-16251
                                
                                
                                
                      GALAXY FOODS COMPANY
     (Exact name of registrant as specified in its charter)
                                
                                
                                
           Delaware                          25-1391475
     (State or other jurisdiction of      (I.R.S. Employer
     incorporation or organization)     Identification No.)

      2441 Viscount Row
       Orlando, Florida                        32809
(Address of principal executive offices)     (Zip Code)

                         (407) 855-5500
      (Registrant's telephone number, including area code)
                                
                                
     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
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                           YES X    NO    
     
     
     On August 8, 1995, there were 35,000,979 shares of Common
Stock $.01 par value per share, outstanding.
                                
<PAGE>                                
                      GALAXY FOODS COMPANY
                                
                      Index to Form 10-QSB/A
                 For Quarter Ended June 30, 1995
                                
                                
                                
                                
                                                          PAGE
NO.

PART I. FINANCIAL INFORMATION


SIGNATURES                                                   3

Financial Data Schedules                                     4



<PAGE>
                         SIGNATURES


Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly
authorized.











                              GALAXY FOODS COMPANY




Date:  September 27, 1995     /s/ Angelo S. Morini      
                              Angelo S. Morini
                              Chairman and President
                              (Principal Executive Officer)






Date:  September 27, 1995     /s/ Samuel E. Chambers II    
                              Samuel E. Chambers II
                              Chief Financial Officer
                              (Principal Financial and Accounting
                              Officer)










                             3
<PAGE>  
                        



<TABLE> <S> <C>

<ARTICLE> 5
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-END>                               JUN-30-1995
<CASH>                                         3814856
<SECURITIES>                                         0
<RECEIVABLES>                                   324931
<ALLOWANCES>                                         0
<INVENTORY>                                     477603
<CURRENT-ASSETS>                               4903628
<PP&E>                                         5210673
<DEPRECIATION>                                  922325
<TOTAL-ASSETS>                                10358477
<CURRENT-LIABILITIES>                           699831
<BONDS>                                              0
<COMMON>                                        178649
                                0
                                       3538
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                  10358477
<SALES>                                         757579
<TOTAL-REVENUES>                                757579
<CGS>                                           702144
<TOTAL-COSTS>                                   501604
<OTHER-EXPENSES>                               (14009)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                               (432160)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (432160)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                        0
        

</TABLE>



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