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STANFORD TELECOM ANNOUNCES FIRST QUARTER FISCAL YEAR 1994 RESULTS

 SUNNYVALE, Calif., July 21 /PRNewswire/ -- Stanford Telecommunications Inc. (NASDAQ-NMS: STII) announced today that its first quarter fiscal year 1994 net income, earnings per share, revenues, bookings and backlog figures all improved over the results posted for the first quarter of the previous fiscal year.
 First quarter fiscal year 1994 net income and earnings per share, before the cumulative effect of change in accounting method associated with the adoption of Financial Accounting Standard 109 (SFAS 109 "Accounting for Income Taxes"), was $690,000 and 14 cents per share respectively, compared to a net loss of $433,000 and loss per share of 9 cents for the first quarter of fiscal year 1993. The cumulative effect of change in accounting method was to add $700,000 or 14 cents per share to the company's first quarter fiscal year 1994 net income and earnings per share. The company's first fiscal year 1994 net income and earnings per share, reflecting the cumulative effect of change in accounting methods, was therefore $1,390,000 and 28 cents per share respectively. Quarterly revenues grew by 17 percent to $24.3 million from $20.8 million reported for the first quarter of fiscal year 1993.
 During the first quarter of fiscal year 1994 the company received contract bookings of $41 million of which $33.9 million was funded. During the first quarter of the previous fiscal year, the company's funded bookings were $10.5 million. The company's total backlog at the end of June 1993 stands at approximately $82.5 million of which $60.2 million is funded. Funded backlog at the end of the first quarter of fiscal year 1993 was $53.4 million.
 In announcing the results of the quarter, Dr. James J. Spilker Jr., chairman and president, said, "We are pleased with the progress made during the past quarter in all areas of operations. We continue to develop our resources and focus our 20 years of digital telecommunications expertise toward areas of exciting growth potential in the commercial, civilian and government marketplaces. We plan to give special emphasis to development of new proprietary commercial digital telecommunication products during this year."
 STANFORD TELECOMMUNICATIONS INC.
 CONDENSED SUMMARY OF INCOME
 (In thousands except per share data)
 1st Quarter Ended June 30,
 FY 94 FY 93 Change
 Revenues $24,322 $20,788 17 pct.
 Income/(loss) from operations 1,202 (630) NM
 Other expense (70) (82) 15 pct.
 Income/(loss) before taxes 1,132 (712) NM
 Net income/(loss) before
 cumulative change in accounting
 method 690 (433) NM
 Cumulative effect of change in
 accounting method 700 -- NM
 Net income/(loss) reflecting
 cumulative effect of change in
 accounting method 1,390 (433) NM
 Earnings/(loss) per share before
 cumulative effect of change in
 accounting method $0.14 $(0.09) NM
 Earnings/(loss) per share
 reflecting cumulative effect
 change in accounting method $0.28 $(0.09) NM
 Weighted average shares
 outstanding 4,900 4,878 --
 NOTE: "NM" means "Not Meaningful."
 -0- 7/21/93
 /CONTACT: Gary Wolf, vice president and chief financial officer, of Stanford Telecom, 408-745-2403/
 (STII)


CO: Stanford Telecommunications Inc. ST: California IN: TLS SU: ERN

TM-TB -- SJ006 -- 3919 07/21/93 11:57 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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