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STANFORD TELECOM ANNOUNCES FISCAL YEAR 1993 RESULTS

 SANTA CLARA, Calif, May 6 /PRNewswire/ -- Stanford Telecommunications Inc. (NASDAQ-NMS: STII) announced that its fiscal year 1993 (ended March 31, 1993) revenues of $92.8 million declined 2 percent from those posted during fiscal year 1992. Net income and earnings per share of $1.2 million and 24 cents achieved during fiscal year 1993 compares with net income and earnings per share of $3.1 million and 63 cents posted for fiscal year 1992.
 During the fourth quarter of fiscal year 1993, the company achieved revenues of $26.2 million and net income and earnings per share of $479,000 and 10 cents, respectively. Revenues, net income and earnings per share for the fourth quarter of fiscal year 1992 were $25.2 million, $583,000 and 12 cents, respectively. The company experienced difficulties in completion of certain fixed-price hardware development contracts during the fourth quarter and recognized losses on those contracts. In addition, the company increased its receivables and inventory reserves.
 Funded contract bookings of $34.0 million received during the fourth quarter of fiscal year 1993 brings the total of funded bookings for the fiscal year to $78.8 million. The above bookings figures do not include a $14 million award from Intelsat received shortly after the end of the fourth quarter. Funded contract bookings for all of fiscal year 1992 totaled $94.3 million. Fiscal year 1993 total backlog of $65.8 million compares with fiscal year 1992 total backlog of $82.0 million.
 In announcing the results of the fiscal year, Dr. James J. Spilker Jr., chairman and president said, "The company continues its transition from primarily a defense department supplier to an internationally known telecommunications company. During fiscal year 1993 we successfully broadened our customer base and expanded our commercial and product offerings. We anticipate further growth during fiscal year 1994 in these exciting areas. During fiscal year 1993 the company completed an internal reorganization to address our new markets and restructured our resources in an attempt to maximize efficiency and avoid cost problems on fixed price development contracts as experienced the past year. We believe we are well-positioned for revenue growth and expanding margins."
 STANFORD TELECOM INC.
 CONDENSED SUMMARY OF INCOME
 (In thousands except earnings per share)
 4th Qtr Ended 3/31 Fiscal Year Ended 3/31
 FY 93 FY 92 FY 93 FY 92
 Revenues $26,201 $25,167 $92,821 $94,908
 Income from Operations 900 1,051 2,319 5,601
 Other Expense (119) (87) (428) (502)
 Income Before Taxes 781 964 1,891 5,099
 Net Income 479 583 1,159 3,105
 Earnings per Share $0.10 $0.12 $0.24 $0.63
 Weighted Ave. Shares 4,861 4,858 4,862 4,913
 FINANCIAL POSITION AT END OF FISCAL YEAR
 (In thousands except per share data)
 Fiscal 1993 Fiscal 1992
 Current Assets $44,950 $42,791
 Current Liabilities 18,971 16,716
 Working Capital 25,979 26,075
 Total Assets 57,540 54,088
 Long-Term Debt 358 246
 Shareholders' Equity 37,571 36,500
 Book Value per Share $7.72 $7.50
 -0- 5/6/93
 /CONTACT: Gary Wolf, vice president and chief financial officer, of Stanford Telecom, 408-748-1010/
 (STII)


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

TM -- SJ003 -- 5367 05/06/93 11:16 EDT
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Date:May 6, 1993
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