CONFORMED COPY




                                           UNITED STATES
                                SECURITIES AND EXCHANGE COMMISSION

                                      Washington, D.C. 20549

                                             FORM 10-Q
                                                            

                     [X] Quarterly Report Pursuant to Section 13 or 15(d) of 
                              the Securities and Exchange Act of 1934
                                For the period ended March 31, 1999

                                                OR

                     [ ] Transition Report Pursuant to Section 13 of 15(d) of 
                             the Securities and Exchange Act of  1934
                         For the transition period from         to        

                                   Commission file number 0-7246

                         I.R.S. Employer Identification Number 95-2636730

                                 PETROLEUM DEVELOPMENT CORPORATION
                                      (A Nevada Corporation)
                                       103 East Main Street
                                       Bridgeport, WV 26330
                                     Telephone: (304) 842-6256

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  XX   No      

Indicate the number of shares outstanding of each of the issuers classes of
common stock, as of the latest practicable date: 15,737,795 shares of the
Company's Common Stock ($.01 par value) were outstanding as of March 31,
1999.
<PAGE>
                        PETROLEUM DEVELOPMENT CORPORATION AND SUBSIDIARIES
                                                 
                                               INDEX




PART I - FINANCIAL INFORMATION                              Page No.


  Item 1.  Financial Statements

     Independent Auditors' Review Report                         1

     Condensed Consolidated Balance Sheets -
     March 31, 1999 and December 31, 1998                        2

     Condensed Consolidated Statements of Income -
     Three Months Ended March 31, 1999 and 1998                  4

     Condensed Consolidated Statements of Cash Flows-Three
     Months Ended March 31, 1999 and 1998                        5

     Notes to Condensed 

     Consolidated Financial Statements                          6


   Item 2. Management's Discussion and Analysis of Financial 
     Condition and Results of Operations                         8


PART II     OTHER INFORMATION


   Item 1.  Legal Proceedings                                   12 


   Item 6.  Exhibits and Reports on Form 8-K                    12











<PAGE>

                                  PART I - FINANCIAL INFORMATION


                                Independent Auditors' Review Report




The Board of Directors
Petroleum Development Corporation:


            We have reviewed the accompanying condensed consolidated balance
sheet of Petroleum Development Corporation and subsidiaries as of March 31,
1999, and the related condensed consolidated statements of income and cash
flows for the three-month periods ended March 31, 1999 and 1998.  These
financial statements are the responsibility of the Company's management.

            We conducted our review in accordance with standards established
by the American Institute of Certified Public Accountants.  A review of
interim financial information consists principally of applying analytical
review procedures to financial data and making inquiries of persons
responsible for financial and accounting matters.  It is substantially less
in scope than an audit conducted in accordance with generally accepted
auditing standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole.  Accordingly, we do not
express such an opinion.

            Based on our review, we are not aware of any material modifications
that should be made to the condensed consolidated financial statements
referred to above for them to be in conformity with generally accepted
accounting principles.

            We have previously audited, in accordance with generally accepted
auditing standards, the consolidated balance sheet of Petroleum Development
Corporation and subsidiaries as of December 31, 1998 and the related
consolidated statements of income, stockholders' equity, and cash flows for
the year then ended (not presented herein); and in our report dated March
5, 1999, we expressed an unqualified opinion on those consolidated financial
statements.  In our opinion, the information set forth in the accompanying
condensed consolidated balance sheet as of December 31, 1998 is fairly
presented, in all material respects, in relation to the consolidated balance
sheet from which it has been derived.



                                                              KPMG LLP



Pittsburgh, Pennsylvania
May 13, 1999

<PAGE>
                        PETROLEUM DEVELOPMENT CORPORATION AND SUBSIDIARIES

                               Condensed Consolidated Balance Sheets
                               March 31, 1999 and December 31, 1998




<TABLE>
<C>                                                         <C>                
<C>    
     ASSETS

                                                            1999             
1998  
                                                         (Unaudited) 

Current assets:
     Cash and cash equivalents                           $14,353,600     $
34,894,600
     Accounts and notes receivable                         6,054,600       
6,024,100
     Inventories                                             307,000         
702,400
     Prepaid expenses                                      1,928,800       
2,387,500

        Total current assets                              22,644,000      
44,008,600



Properties and equipment                                  98,272,600      
92,747,300
     Less accumulated depreciation, depletion,
     and amortization                                     28,270,000      
27,356,700
                                                          70,002,600      
65,390,600

Other assets                                               2,264,500       
1,901,200

                                                         $94,911,100    
$111,300,400

</TABLE>







                                                                  (Continued)




                                                -2-

<PAGE>
                        PETROLEUM DEVELOPMENT CORPORATION AND SUBSIDIARIES

                         Condensed Consolidated Balance Sheets, Continued
                               March 31, 1999 and December 31, 1998


<TABLE>
<C>                                                         <C>               
<C>

               LIABILITIES AND
             STOCKHOLDERS' EQUITY
                                                             1999            
1998   
                                                         (Unaudited)

Current liabilities:
     Accounts payable and accrued expenses              $11,750,100     $
13,178,800 
     Advances for future drilling contracts              10,488,700      
28,320,800 
     Funds held for future distribution                     583,500         
984,200 

        Total current liabilities                        22,822,300      
42,483,800 


Other liabilities                                         2,652,900       
2,233,500 
Deferred income taxes                                     3,933,400       
3,836,400 


Stockholders' equity:
     Common stock                                           157,400         
155,100 
     Additional paid-in capital                          32,015,800      
31,873,100 
     Warrants outstanding                                    46,300          
46,300 
     Retained earnings                                   33,283,000      
30,672,200 

        Total stockholders' equity                       65,502,500      
62,746,700 


                                                        $94,911,100    
$111,300,400 
</TABLE>







       See accompanying notes to condensed consolidated financial statements.

                                                -3-
<PAGE>
                        PETROLEUM DEVELOPMENT CORPORATION AND SUBSIDIARIES

                            Condensed Consolidated Statements of Income
                            Three Months ended March 31, 1999 and 1998
                                            (Unaudited)

<TABLE>
<C>                                                                <C>         
       <C>

                                                                   1999        
    1998 

Revenues:
  Oil and gas well drilling operations                          $17,745,600    
     $15,489,200
  Oil and gas sales                                               8,274,700    
       8,040,000
  Well operations and pipeline income                             1,156,100    
       1,066,800
  Other income                                                      489,900    
         651,400

                                                                 27,666,300    
      25,247,400

Costs and expenses:
  Cost of oil and gas well drilling operations                   14,871,400    
      12,990,400
  Oil and gas purchases and production costs                      8,030,400    
       7,454,400
  General and administrative expenses                               464,400    
         440,100
  Depreciation, depletion, and amortization                         935,600    
         758,500

                                                                 24,301,800    
      21,643,400

     Income before income taxes                                   3,364,500    
       3,604,000

Income taxes                                                        753,700    
         807,300

     Net income                                                 $2,610,800     
     $ 2,796,700
  
Basic earnings per common share                                     $  .17     
          $  .18

Diluted earnings per share                                          $  .16     
          $  .17

</TABLE>






       See accompanying notes to condensed consolidated financial statements

                                                -4-

<PAGE>
                        PETROLEUM DEVELOPMENT CORPORATION AND SUBSIDIARIES

                          Condensed Consolidated Statements of Cash Flows
                            Three Months Ended March 31, 1999 and 1998
                                            (Unaudited)

<TABLE>
<C>                                                                  <C>       
        <C>
                                                                     1999      
        1998
Cash flows from operating activities:
    Net income                                                 $ 2,610,800     
     $2,796,700 
    Adjustments to net income to reconcile
     to cash used in operating activities:
    Deferred federal income taxes                                   97,000     
       (148,800)
    Depreciation, depletion & amortization                         935,600     
        758,500 
    Leasehold acreage expired or surrendered                       192,000     
         70,500 
    Amortization of stock award                                      3,100     
          3,000 
    Gain on disposal of assets                                      (8,300)    
         (5,000)
    Decrease in current assets                                     823,600     
        211,500 
    Increase in other assets                                      (226,700)    
       (118,100)
    Decrease in current liabilities                            (19,661,500)    
    (15,992,900)
    Increase in other liabilities                                  419,400     
        531,400 

            Total adjustments                                  (17,425,800)    
    (14,689,900)

            Net cash used in operating activities              (14,815,000)    
    (11,893,200)

Cash flows from investing activities:
    Capital expenditures                                        (6,194,700)    
     (4,444,600)
    Proceeds from sale of leases                                   460,400     
        592,600 
    Proceeds from sale of assets                                     8,300     
          5,000 

            Net cash used in investing activities               (5,726,000)    
     (3,847,000)

Net change in cash and cash equivalents                        (20,541,000)    
    (15,740,200)

Cash and cash equivalents, beginning of period                  34,894,600     
     46,561,000 

Cash and cash equivalents, end of period                      $ 14,353,600     
   $ 30,820,800 
</TABLE>





     See accompanying notes to condensed consolidated financial statements.

                                                -5-

<PAGE>
                        PETROLEUM DEVELOPMENT CORPORATION AND SUBSIDIARIES

                       Notes to Condensed Consolidated Financial Statements
                                          March 31, 1999
                                            (Unaudited)


1.   Accounting Policies

     Reference is hereby made to the Company's Annual Report on Form 10-K for
     1998, which contains a summary of significant accounting policies
     followed by the  Company in the preparation of its consolidated
     financial statements.  These  policies were also followed in preparing
     the quarterly report included herein.

2.   Basis of Presentation

     The Management of the Company believes that all adjustments (consisting
     of  only normal recurring accruals) necessary to a fair statement of the
     results of such periods have been made.  The results of operations for
     the three months ended March 31, 1999 are not necessarily indicative of
     the results to be expected for the full year.

3.   Oil and Gas Properties

     Oil and Gas Properties are reported on the successful efforts method.

4.   Earnings Per Share

     Computation of earnings per common and common equivalent share are as
     follows for the three months ended March 31,

<TABLE>
             <C>                                              <C>            <C>
                                                             1999            1998 
 

    Weighted average common shares outstanding            15,722,659    
15,490,151 

    Weighted average common and 
     common equivalent shares outstanding                 16,216,020    
16,378,383 

    Net income                                           $ 2,610,800    $
2,796,700 
    
    Basic earnings per common share                         $  .17          $ 
 .18

    Diluted earnings per share                              $  .16          $ 
 .17

</TABLE>








                                                -6-

<PAGE>
5.    Business Segments (Thousands)

      PDC's operating activities can be divided into three major segments: 
      drilling and developement, natural gas sales, and well operations.  The
      Company drills natural gas wells for Company-sponsored drilling
      partnerships and retains an interest in each well.  The Company also
      engages in oil and gas sales to residential, commerical and industrial
      end-users.  The Company charges Company-sponsored partnerships and other
      third parties competitive industry rates for well operations and gas
      gathering.  Segment information for the three months ended March 31,
      1999 and 1998 is as follows:

<TABLE>   
              <C>                                             <C>              
  <C>
                                                            1999              
1998   

       REVENUES
         Drilling and Development                          $17,746            
15,489 
         Natural Gas Sales                                   8,275             
8,040 
         Well Operations                                     1,156             
1,067 
         Unallocated amounts (1)                               489             
  651 
       Total                                               $27,666            
25,247 
</TABLE>

       (1) Includes interest on investments and partnership management fees
       which are not allocated in assessing segment performance.

<TABLE>
        <C>                                                    <C>             
   <C>
                                                              1999             
 1998   
       SEGMENT INCOME BEFORE INCOME TAXES
         Drilling and Development                          $ 2,874             
2,499 
         Natural Gas Sales                                     208             
  571 
         Well Operations                                       293             
  350 
         Unallocated amounts (2)
         General and Administrative 
          expenses                                            (464)            
 (440)
         Interest expense                                     -                
 -    
         Other (1)                                             454             
  624 
                     Total                                 $ 3,365             
3,604 
</TABLE>

       (2)  Items which are not allocated in assessing segment performance.

<TABLE> 
                 <C>                                          <C>              
   <C>
                                                     March 31, 1999  December 31,
1998
       SEGMENT ASSETS
         Drilling and Development                           $ 5,912            
27,288
         Natural Gas Sales                                   70,133            
65,256
         Well Operations                                      6,751            
 7,136
         Unallocated amounts 
           Cash                                               6,772            
 7,814
         Other                                                5,343            
 3,806
           Total                                           $ 94,911          
$111,300
</TABLE>

                                                -7-
<PAGE>
6.     Commitments and Contingencies

       The nature of the independent oil and gas industry involves a
       dependence on outside investor drilling capital and involves a
       concentration of gas sales to a few customers.  The Company sells
       natural gas to various public utilities and industrial customers.  One
       customer, Hope Gas, Inc., a regulated public utility, accounted for 5.9
       percent of total revenues in the first three months of 1999.

       Substantially all of the Company's drilling programs contain a
       repurchase provision where Investors may tender their partnership units
       for repurchase at any time beginning with the third anniversary of the
       first cash distribution.  The provision provides that the Company is
       obligated to purchase an aggregate of 10% of the initial subscriptions
       per calendar year (at a minimum price of three times the most recent
       12 months' cash distributions), only if such units are tendered,
       subject to the Company's financial ability to do so.  The maximum
       annual 10% repurchase obligation, if tendered by the investors, is
       currently approximately $1.3 million.  The Company has adequate capital
       to meet this obligation.

       The Company is not party to any legal action that would materially
       affect the Company's results of operations or financial condition.

I
tem 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations

Results of Operations

Three Months Ended March 31, 1999 Compared With March 31, 1998

    Revenues.  Total revenues for the three months ended March 31, 1999 were
$27.7 million compared to $25.2 million for the three months ended March 31,
1998, an increase of approximately $2.5 million, or 9.9 percent.  Such
increase was primarily a result of increased drilling revenues.  Drilling
revenues for the three months ended March 31, 1999 were $17.7 million
compared to $15.5 million for the three months ended March 31, 1998, an
increase of approximately $2.2 million, or 14.2 percent.  Such increase
resulted from higher volumes of drilling and completion activities, due to
increased levels of drilling partnership-related financing.  Oil and gas
sales for the three months ended March 31, 1999 were $8.3 million compared
to $8.0 million for the three months ended March 31, 1998, an increase of
approximately $300,000, or 3.8 percent.  Such increase was due to increased
production from the Company's producing properties offset in part by lower
average sales prices of natural gas.  Well operations and pipeline income
for the three months ended March 31, 1999 was $1.2 million compared to $1.1
million for the three months ended March 31, 1998 an increase of
approximately $100,000, or 9.1%.  Such increase resulted from an increase
in the number of wells operated by the Company.  Other income for the three
months ended March 31, 1999 was $490,000 compared to $651,000 for the three
months ended March 31, 1998, a decrease of approximately $161,000, or 24.7
percent.  Such decrease resulted from interest earned on lower average cash
balances.


                                                -8-

<PAGE>
    Costs and expenses.  Costs and expenses for the three months ended March
31, 1999 were $24.3 million compared to $21.6 million for the three months
ended March 31, 1998, an increase of approximately $2.7 million or 12.5
percent.  Oil and gas well drilling operations costs for the three months
ended March 31, 1999 were $14.9 million compared to $13.0 million for the
three months ended March 31, 1998, an increase of approximately $1.9
million, or 14.6 percent.  Such increase resulted from additional expenses
resulting from the increased drilling activity.  Oil and gas purchases and
production costs for the three months ended March 31, 1999 were $8.0 million
compared to $7.5 million for the three months ended March 31, 1998, an
increase of approximately $500,000, or 6.7%.  Such increase was due to
natural gas marketing activities of RNG and production costs associated with
the increased volumes of natural gas produced by the Company's producing
properties.  General and administrative expenses for the three months ended
March 31, 1999 increased to $464,000 compared with $440,000 for the three
months ended March 31, 1998.  Depreciation, depletion, and amortization
costs for the three months ended March 31, 1999 were $936,000 compared to
$759,000 for the three months ended March 31, 1998, an increase of $177,000
or 23.3 percent.  Such increase was due to the increased amount of
investment in oil and gas properties owned by the Company.  

    Net income.  Net income for the three months ended March 31, 1999 was
$2.6 million compared to a net income of $2.8 million for the three months
ended March 31, 1998, a decrease of approximately $200,000 or 7.1 percent.

Year 2000 Issue

State of Readiness

    The Year 2000 Issue is the risk that computer programs using two-digit
data fields will fail to properly recognize the year 2000, with the result
being business interruption due to computer system failures by the Company's
software or hardware or that of government entities, service providers and
vendors.  The Company has assessed the extent of the Year 2000 Issues
affecting the Company.  The Company believes that the new computer system
including operating software installed during 1998 along with modifications
made by the Company's computer technicians have addressed the dating system
flaw inherent in most operating systems.  The Company has completed a
remediation plan and believes it is currently fully Year 2000 Compliant.

    The Company has initiated formal communications with its significant
suppliers and service providers to determine the extent to which the Company
may be vulnerable to their failure to correct their own Year 2000 issues. 
It is expected that full identification will be completed by June 30, 1999. 
To the extent that responses to Year 2000 readiness are unsatisfactory, the
Company intends to take appropriate action, including identifying
alternative suppliers and service providers who have demonstrated Year 2000
readiness.





                                                -9-

<PAGE>
Cost of Readiness

    Expenditures related to Year 2000 remediation did not exceed $35,000. 
These expenditures include costs related to the data processing transition,
a new computer system, purchase of software, modifications and
implementation costs.  A portion of these costs were capitalized and will
be amortized over the estimated useful life.  The remainder of these costs
have been expensed as incurred.  Management believes that the cost to become
Year 2000 Compliant is not material to the Company's financial position or
results of operations.

Risks of Year 2000 Issues

    The Company presently believes the Year 2000 Issue will not present a
materially adverse risk to the Company's future consolidated results of
operations, liquidity, and capital resources.  However, if the level of
timely compliance by key suppliers or service providers is not sufficient,
the Year 2000 Issue could have a material impact on the Company's operations
including, but not limited to, increased operating costs, loss of customers
or suppliers, loss of accounting functions, including well revenue
distributions, or other significant disruptions to the Company's business.

Contingency Plan

    The Company has a contingency plan, and will implement it on systems that
remains non-compliant as of December 31, 1999, if any.

Liquidity and Capital Resources

    The Company funds its operations through a combination of cash flow from
operations, capital raised through stock offerings and drilling
partnerships, and use of the Company's credit facility.  Operational cash
flow is generated by sales of natural gas from the Company's well interests,
well drilling and operating activities for the Company's investor partners,
natural gas gathering and transportation, and natural gas marketing.  Cash
payments from Company-sponsored partnerships are used to drill and complete
wells for the partnerships, with operating cash flow accruing to the Company
to the extent payments exceed drilling costs.  The Company utilizes its
revolving credit arrangement to meet the cash flow requirements of its
operating and investment activities.

    Sales volumes of natural gas have continued to increase while natural gas
prices fluctuate monthly.  The Company's natural gas sales prices are
subject to increase and decrease based on various market-sensitive indices. 
A major factor in the variability of these indices is the seasonal variation
of demand for the natural gas, which typically peaks during the winter
months.  The volumes of natural gas sales are expected to continue to
increase as a result of continued drilling activities and additional
investment by the Company in oil and gas properties.  The Company utilizes
commodity-based derivative instruments (natural gas futures and option
contracts traded on the NYMEX) as hedges to manage a portion of its exposure
to this price volatility.  The futures contracts hedge committed and
anticipated natural gas purchases and sales, generally forecasted to occur
within a three to twelve-month period.  

                                               -10-

<PAGE>
    The Company has a bank credit agreement with First National Bank of
Chicago, which provides a borrowing base of $10.0 million, subject to
adequate oil and natural gas reserves.  At the request of the Company, the
bank, at its sole discretion, may increase the borrowing base to $20.0
million.  As of March 31, 1999, no balance is outstanding on the line of
credit.  Interest accrues at prime, with LIBOR (London Interbank Market
Rate) alternatives available at the discretion of the Company.  No principal
payments are required until the credit agreement expires on December 31,
1999.  The Company is currently working on an amendment with the bank to
extend the expiration date of the credit agreement.

    The Company has commenced sales of units in its fifth partnership in its
registered PDC 2000 public drilling program which has remaining eight
partnerships which are scheduled to close over the next two years.  The
fifth partnership is scheduled to close in late May, 1999, with drilling
planned in the second and third quarters of 1999.  Additional programs are
scheduled to close in September, November and December of 1999.  The Company
generally invests, as its equity contribution to each drilling partnership,
an additional sum approximating 20% of the aggregate subscriptions received
for that particular drilling partnership.  As a result, the Company is
subject to substantial cash commitments at the closing of each drilling
partnership.  The funds received from these programs are restricted to use
in future drilling operations.  No assurance can be made that the Company
will continue to receive this level of funding from these or future
programs.

    On January 29, 1999, the Company offered to purchase from Investors their
units of investment in the Company's Drilling Programs formed prior to 1996. 
The Company purchased approximately $1.6 million of producing oil and gas
properties in conjunction with this offer, which expired on March 31, 1999. 
The Company utilized capital received from its 1997 public stock offering
to fund this purchase.

    The Company continues to pursue capital investment opportunities in
producing natural gas properties as well as its plan to participate in its
sponsored natural gas drilling partnerships, while pursuing opportunities
for operating improvements and costs efficiencies.  Management believes that
the Company has adequate capital to meet its operating requirements.

New Accounting Standard

    Statement of Accounting Standards No. 133, Accounting for Derivative
Instruments and Hedging Activities (SFAS No. 133), was issued by the
Financial Accounting Standards Board in June, 1998.  Statement 133
standardized the accounting for derivative instruments, including certain
derivative instruments embedded in other contracts.  The Company must adopt
SFAS No. 133 by January 1, 2000; however, early adoption is permitted.  On
adoption, the provisions of SFAS No. 133 must be applied prospectively.  At
the present time, the Company cannot determine the impact that SFAS No. 133
will have on its financial statements upon adoption, as such impact will be
based on the extent of derivative instruments, such as natural gas futures
and option contracts, outstanding at the date of adoption.





                                               -11-

<PAGE>
                                                           CONFORMED COPY


 
                                PART II - OTHER INFORMATION 



Item 1.  Legal Proceedings

         The Company is not a party to any legal actions that would materially
affect the Company's operations or financial statements.


Item 6.  Exhibits and Reports on Form 8-K

         (a) None.

         (b) No reports on Form 8-K have been filed during the quarter ended
March 31, 1999.




                                            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.

                                           Petroleum Development Corporation
                                                     (Registrant)




Date:     May 13, 1999                     /s/ Steven R. Williams       
                                               Steven R. Williams
                                               President


Date:     May 13, 1999                     /s/ Dale G. Rettinger        
                                               Dale G. Rettinger
                                               Executive Vice President
                                               and Treasurer





                                               -12-





<TABLE> <S> <C>

<ARTICLE> 5
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                      14,353,600
<SECURITIES>                                         0
<RECEIVABLES>                                6,054,600
<ALLOWANCES>                                   274,600
<INVENTORY>                                    307,000
<CURRENT-ASSETS>                            22,644,000
<PP&E>                                      98,272,600
<DEPRECIATION>                              28,270,000
<TOTAL-ASSETS>                              94,911,100
<CURRENT-LIABILITIES>                       22,822,300
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       157,400
<OTHER-SE>                                  65,345,100
<TOTAL-LIABILITY-AND-EQUITY>                94,911,100
<SALES>                                     26,020,300
<TOTAL-REVENUES>                            27,666,300
<CGS>                                       22,901,800
<TOTAL-COSTS>                               24,301,800
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              3,364,500
<INCOME-TAX>                                   753,700
<INCOME-CONTINUING>                          2,610,800
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,610,800
<EPS-PRIMARY>                                      .17
<EPS-DILUTED>                                      .16
        

</TABLE>