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SK TECHNOLOGIES REPORTS FIRST QUARTER RESULTS

 SK TECHNOLOGIES REPORTS FIRST QUARTER RESULTS
 BOCA RATON, Fla., Aug. 18 /PRNewswire/ -- SK Technologies


Corporation (NASDAQ: SKTC), today reported results for the first quarter of fiscal year 1993.
 Revenues for the three months ended June 30, 1992 were $152,301, compared to revenues of $591,553 during the three months ended June 30, 1991. For first quarter of fiscal year 1993 the company reported a net loss of $583,541, or $.04 per share, vs. net income of $22,457 during first quarter of fiscal year 1992.
 Randy S. Selman, chairman of SK Technologies, noted that the net loss reported for the recently ended first quarter was largely the result of expenses related to accelerated marketing efforts for Version 2.4 of the company's StoreKare software, including an extensive telemarketing program, which were not offset by corresponding revenues due to a delay in the introduction of the product until the middle of May 1992.
 Commenting further, Selman said, "As with the fourth quarter of fiscal 1992, our results were significantly affected by the development and marketing of Version 2.4 of StoreKare and the timing of its introduction. Now that Version 2.4 is available, however, we expect it to bring about opportunities to expand our revenue base during the remainder of fiscal 1993.
 "In fact, we are very encouraged by the warm reception given Version 2.4 by both customers and the industry in general, as indicated by recent orders from several prestigious new customers. Included were orders from National Health & Nutrition, a chain of 50 health food stores; and Day-Timers, Inc., one of the largest manufacturers and direct marketers of business-oriented planner-organizers in the United States. Moreover, we will be piloting 6 stores with Rag Shops, Inc., a publicly held 54-store chain of crafts, fabric and floral items. Additionally, through the efforts of our telemarketing department, we have generated a substantial number of new leads. We have also recently instituted a new program directed at further expanding the company's sales, marketing and advertising activities. This program will also provide additional support to our dealer and Master Dealer networks. To date, the company has entered into a total of eight Master Dealer licensing agreements. In essence, we are attempting to capitalize on the momentum and initial interest that has developed in the short span of time since introducing this newest version of our product."
 SK Technologies Corporation is a leading developer and marketer of point-of-sale and data communications software specifically designed for use by retail and food operations, including fast food restaurant and apparel, discount, bicycle, greeting card and other general and specialty stores. SK markets the StoreKare system through an extensive network of over 300 dealers located in the United States and Canada.
 SK TECHNOLOGIES CORPORATION
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (UNAUDITED)
 For the Three Months Ended June 30,
 1992 1991
 Revenues $ 152,301 $ 591,553
 Cost of Revenues 109,969 178,822
 Gross Profit 42,332 412,731
 Selling, General
 & Administrative
 Expenses $ 629,347 $ 390,269
 Operating Income (loss) (587,015) 22,462
 Other Income (Expenses), net $ 3,474 $ (5)
 Net income (loss) $ (583,541) $ 22,457
 Net income (loss)
 per common share $ (.04) $ --
 Weighted Average Shares
 Outstanding 15,092,251 13,307,772
 -0- 8/18/92
 /CONTACT: Randy S. Selman of SK Technologies, 407-393-7540; or Barry A. Rothman of Greenstone Roberts Public Relations/Florida, 305-975-3500, for SK Technologies/
 (SKTC) CO: SK Technologies Corporation ST: Florida IN: CPR SU: ERN


AW-JJ -- FL010 -- 1106 08/18/92 16:57 EDT
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Date:Aug 18, 1992
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