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STM ANNOUNCES RECORD FIRST QUARTER SALES AND EARNINGS

 STM ANNOUNCES RECORD FIRST QUARTER SALES AND EARNINGS
 COSTA MESA, Calif., April 13 /PRNewswire/ -- Satellite Technology


Management Inc. ("STM") (NASDAQ: STMI) today announced revenue for the quarter ended March 31, 1992, was $4,480,000, compared to revenue of $1,604,300 for the same period in 1991. Operating income of $1,051,200, and net income after income taxes of $783,000 in the current period compares to operating income of $73,800 and net income of $74,800 in the first quarter of 1991. First quarter 1992 earnings per share were 24 cents, compared to 2 cents per share for the corresponding quarter in 1991. STM completed an initial public offering of its stock in April of this year following three consecutive years of revenue and earnings growth.
 SATELLITE TECHNOLOGY MANAGEMENT
 Statements of Operations
 Year ended Quarter ended
 12-31-91 12-31-90 3-31-92 3-31-91
 Net
 revenues $12,442,300 $8,582,000 $4,480,200 $1,604,300
 Gross
 profit 5,638,000 3,678,100 1,967,200 649,600
 Operating
 income 2,814,800 1,441,200 1,051,200 73,800
 Income before
 extraordinary
 item 2,593,300 1,417,100 783,000 74,800
 Extraordinary
 gain on
 extinguishments
 of debt, net of
 income taxes
 of $21,000 174,300 --- --- ---
 Net income $2,767,600 $1,417,100 $783,000 $74,800
 Earnings per
 common and
 common
 equivalent
 share:
 Earnings
 before
 extraordinary
 item $.81 $.49 $.24 $.02
 Extraordinary
 item .05 --- --- ---
 Net earnings
 per share $.86 $.49 $.24 $.02
 Weighted average
 common and
 common
 equivalent
 shares 3,201,000 2,898,000 3,229,000 (a) 3,094,000
 (a) Does not include the shares from the recently completed public offering, concluded April 1, 1992.
 The statement of operations data for the years Dec. 31, 1990, and
 1991 are derived from the company's financial statements, which have
 been audited by the company's independent certified public
 accountants. The data for the quarters ended March 31, 1991, and
 March 31, 1992, are unaudited.
 Emil Youssefzadeh, STM's president and chief executive officer, stated that "we believe that the first quarter's outstanding results demonstrate the growing demand for our products worldwide, and we are optimistic about our performance throughout 1992."
 STM manufactures and globally markets satellite communications equipment and software that provide international and domestic businesses and government agencies with data and voice networks connecting remote locations with central hub sites via satellite transponders. STM has been in business since 1982 and has networks installed in North America, Latin America, Europe and the Far East.
 -0- 4/13/92
 /CONTACT: Wayne Blair of Satellite Technology Management, 714-557-2400/
 (STMI) CO: Satellite Technology Management Inc. ST: California IN: TLS SU: ERN


CH-AL -- LA010 -- 7674 04/13/92 10:53 EDT
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Date:Apr 13, 1992
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