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SK TECHNOLOGIES REPORTS THIRD QUARTER RESULTS

 SK TECHNOLOGIES REPORTS THIRD QUARTER RESULTS
 BOCA RATON, Fla., Feb. 18 /PRNewswire/ -- SK Technologies


Corporation (NASDAQ: SKTC), today reported results for the third quarter and nine months ended Dec. 31, 1991.
 Revenues during the third quarter ended Dec. 31, 1991 were $621,108, representing an increase of 125 percent over revenues of $276,586 reported for third quarter ended Dec. 31, 1990. During the recently ended quarter, the company sustained a net loss of $118,274, or $.01 per share, as compared to a net loss of $292,744, or $.02 per share, during the prior year's third quarter.
 Revenues for the nine months ended Dec. 31, 1991 increased 93 percent to a record $1,667,153, from revenues of $864,461 reported for the nine months ended Dec. 31, 1990. For the first nine months of fiscal 1992, the cy? reported a net loss of $240,143, or $.02 per share, as compared to a net loss of $896,651, or $.07 per share, during the same period last year.
 Randy S. Selman, chairman of SK Technologies, noted that the net loss reported for the third quarter was due largely to expenses related to an acceleration of the marketing of Version 2.4 of the company's StoreKare software and development of an associated telemarketing department.
 "In response to strong demand from the marketplace," said Selman, "we decided to accelerate the development and marketing of Version 2.4 of StoreKare, even though the corresponding acceleration of the marketing expenses would result in a net loss for the quarter. Most importantly, we believe that the expected release of Version 2.4 will result in expanded revenue growth beginning during the fourth quarter, followed by a further increase in the rate of growth during the ensuing fiscal year. It is also anticipated that this expanded rate of growth will allow the company to return to profitability during the fourth quarter."
 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. In addition to selling direct to customers, SK markets the StoreKare system through an extensive network of over 300 dealers located in the United States.
 SK TECHNOLOGIES CORPORATION

 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
 FOR THE THREE MONTHS ENDED DEC. 31,
 1991 1990
 REVENUES $ 621,108 $ 276,586
 COST OF REVENUES 244,120 144,163
 GROSS PROFIT 376,988 132,423
 SELLING, GENERAL &
 ADMINISTRATIVE EXPENSES 501,720 432,120
 OPERATING LOSS (124,732) (299,697)
 OTHER INCOME, NET 6,458 6,953
 NET LOSS $ (118,274) $ (292,744)
 NET LOSS PER COMMON SHARE $ (.01) $ (.02)
 WEIGHTED AVERAGE SHARES
 OUTSTANDING 14,107,338 12,829,456
 FOR THE NINE MONTHS ENDED DEC. 31,
 1991 1990
 REVENUES $ 1,667,153 $ 864,461
 COST OF REVENUES 606,835 476,755
 GROSS PROFIT 1,060,318 387,706
 SELLING, GENERAL &
 ADMINISTRATIVE EXPENSES 1,310,567 1,319,717
 OPERATING LOSS (250,249) (932,011)
 OTHER INCOME, NET 10,106 35,360
 NET LOSS $ (240,143) $ (896,651)
 NET LOSS PER COMMON SHARE $ (.02) $ (.07)
 WEIGHTED AVERAGE SHARES
 OUTSTANDING 13,650,044 12,655,490
 -0- 2/18/92
 /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


SS-AW -- FL011 -- 9965 02/18/92 13:01 EST
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Date:Feb 18, 1992
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