8-K

 _______________________________________________________________________________
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                       ___________________________________

                                    FORM 8-K
                         ______________________________

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): February 25, 2005
                     ______________________________________

                            Collins Industries, Inc.
             (Exact name of registrant as specified in its charter)
                     ______________________________________

          Missouri                        0-12619                43-0985160
(State or other jurisdiction            (Commission            (IRS Employer
      of incorporation)                 File Number)         Identification No.)

           15 Compound Drive, Hutchinson, KS                       67502
       (Address of principal executive offices)                 (Zip Code)

       Registrant's telephone number, including area code: (620) 663-5551

                                 Not Applicable
         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a- 12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))

________________________________________________________________________________


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Item 4.02  Non-Reliance on Previously  Issued Financial  Statements or a Related
Audit Report or Completed Interim Review.

     On  February  25,  2005,  management  of  Collins  Industries,   Inc.  (the
"Company")  determined that the Company's  historical  financial  statements for
fiscal years 2002 and 2003 should be restated to correct the manner in which the
Company had established and recorded reserves for specific workers' compensation
claims in Florida and Kansas.  In addition,  the Company's  previously  released
financial  information  for fiscal 2004 will also be  restated.  The Company has
discovered issues with workers  compensation  claims for injuries dating back to
1992.  Therefore,  a  cumulative  adjustment  for periods  prior to 2002 also is
expected.

     The  Company's  management  reached  this  conclusion  following a detailed
review of workers  compensation  claims and historical  reserves.  The Company's
Audit Committee hired an independent  third party  administrator and independent
legal counsel to assist in its investigation of the reserves.

     As a result of the  Company's  determination  to restate  its  consolidated
financial results as discussed above, the financial  statements for fiscal years
2002 and 2003,  and the previously  released  financial  information  for fiscal
2004, should no longer be relied upon.

     The Company's  management has discussed the matters  disclosed in this Form
8-K with  the  Chairman  of the  Company's  Audit  Committee  and the  Company's
independent  auditors.  The  Company's  independent  auditors  concur  with this
decision.

     The Company  issued a press release on March 2, 2005 regarding this matter.
A copy of the press release is attached hereto as Exhibit 99.1 and  incorporated
herein by this reference.

Item 9.01 Financial Statements and Exhibits.

     (c)  Exhibits.

     99.1    Collins Industries, Inc. Press Release dated March 2, 2005.


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                                    SIGNATURE

     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 hereunto duly authorized.



                                       COLLINS INDUSTRIES, INC.


Date  March 2, 2005
                                       By:      /s/ Larry W. Sayre
                                          --------------------------------------
                                       Name:    Larry W. Sayre
                                       Title:   Vice President of Finance and
                                                Chief Financial Officer


                                       3

EX-99

NEWS RELEASE


For Immediate Release               Contact:  Larry W. Sayre
March 2, 2005                                 Vice President-Finance & CFO
                                              (620) 663-5551

        Collins Industries Announces Restatement of Financial Information

Hutchinson,  Kansas, March 2, 2005 ........... Collins Industries, Inc. (Nasdaq:
"COLL-E")  announced  that,  as a result of the Company's  previously  disclosed
review of its self-insured  reserves for estimated worker compensation claims in
the states of Florida and Kansas, the Company will restate its previously issued
financial statements for the 2002 and 2003 fiscal years to correct the manner in
which the Company had established and recorded these reserves. In addition,  the
Company's previously released financial information for fiscal 2004 will also be
restated.  Accordingly, the previously issued financial statements and financial
information for the above periods should no longer be relied upon.

The Company has discovered issues with workers  compensation claims for injuries
dating back to 1992.  The  preliminary  unaudited  adjustments  are  expected to
increase  annual net income by $50,000 to $200,000  in each of the fiscal  years
ended 2002,  2003 and 2004. In addition,  the adjustments are expected to result
in a  decrease  to  shareholders'  equity at October  31,  2001 of  $650,000  to
$850,000.  These adjustments have not been finalized and are subject to audit by
the  Company's  outside  auditors  KPMG LLP.  The final  adjustments  may differ
materially from these estimates and may be greater or less than these estimates.

The Company will amend the appropriate  filings with the Securities and Exchange
Commission to include the restated financial statements. The decision to restate
prior  financial  statements  was made  with the  concurrence  of the  Company's
independent auditors.

The Audit  Committee  has hired an  independent  third party  administrator  and
independent  legal counsel to assist in its  investigation of the reserves,  and
the investigation is ongoing. Until the review is complete, the Company will not
be able to fully assess the impact of these actions on the Company.  The Company
is working diligently to complete this investigation.

Collins  Industries,  Inc. is a leading  manufacturer  of ambulances  (including
medical attack  vehicles,  rescue vehicles and fire emergency  vehicles),  North
America's  largest  producer of Type "A" small school buses, the nation's second
largest  manufacturer of terminal  trucks and a leader in the road  construction
and  

industrial  sweeper markets.  Since 1971, the Company has grown to approximately
900 employees in six plants  comprising over one million combined square feet of
manufacturing space. The Company sells its products throughout the United States
and abroad.

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