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SK TECHNOLOGIES REPORTS FISCAL YEAR END RESULTS

 SK TECHNOLOGIES REPORTS FISCAL YEAR END RESULTS
 BOCA RATON, Fla., July 6 /PRNewswire/ -- SK Technologies Corporation


(NASDAQ: SKTC) today reported results for the fiscal year ended March 31, 1992.
 Revenues for the fiscal year ended March 31, 1992 totaled $1,297,156 compared to total revenues of $1,268,825 during fiscal year 1991. For fiscal year 1992 the company reported a net loss of $1,700,158, or $.12 per share, compared to a net loss of $1,137,087, or $.09 per share, during fiscal year 1991.
 Randy S. Selman, chairman of SK Technologies, noted that the net loss reported for the recently ended fiscal year was, in part, the result of an increased provision for bad debts. In addition, the company's accelerated marketing efforts for Version 2.4 of its StoreKare software, including an extensive telemarketing program, resulted in expense levels that were not offset by corresponding revenues due to a delay in the introduction of the product until the first quarter of fiscal 1993.
 Commenting further, Selman said, "Our results for the past fiscal year were greatly affected by the development and marketing of Version 2.4 of StoreKare and the timing of its introduction. As we have previously noted, this product's introduction was originally planned to occur in the second quarter of fiscal 1992, but was delayed by the addition of new features that were requested by certain large customers. In turn, a significant number of customers decided to wait for the availability of Version 2.4, resulting in lower than anticipated revenues, especially during the second half of the fiscal year."
 "As importantly, however, Version 2.4 was released in May 1992 and has been very warmly received by both customers and the industry in general. We believe that the availability of Version 2.4 will result in opportunities to significantly expand our revenue base during fiscal 1993. Additionally, during fiscal 1992 the company signed several Master Dealer agreements and we expect to begin recognizing revenue from this program in fiscal 1993."
 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 restaurants 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
 FOR THE FISCAL YEAR ENDED MARCH 31,
 1992 1991
 REVENUES $ 1,297,156 $ 1,268,825
 COST OF REVENUES 713,542 693,128
 GROSS PROFIT 583,614 575,697
 SELLING, GENERAL &
 ADMINISTRATIVE EXPENSES 2,273,652 1,752,063
 OPERATING LOSS (1,690,038) (1,176,366)
 OTHER INCOME (EXPENSES), NET (10,120) 39,279
 NET LOSS $(1,700,158) $(1,137,087)
 NET LOSS PER COMMON SHARE $ (.12) $ (.09)
 WEIGHTED AVERAGE
 SHARES OUTSTANDING 13,860,818 12,784,984
 -0- 7/6/92
 /CONTACT: Randy S. Selman of SK Technologies Corporation, 407-393-7540; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for SK Technologies Corporation/
 (SKTC) CO: SK Technologies Corporation ST: Florida IN: CPR SU: ERN


JB-AW -- FL006 -- 6722 07/06/92 16:07 EDT
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Date:Jul 6, 1992
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