Satellite Firm Will Offer Stock

Satellite Technology Management Inc., which makes satellite communications networks, said Tuesday it plans to raise $13 million to $16.2 million in a public offering, according to a registration filing with the Securities and Exchange Commission.

The company plans to issue 1,625,000 shares of common stock at prices from $8 to $10 a share. The offering is expected sometime after late March, the filing said. Using satellite technology, the company creates communications networks for corporations and government agencies with distant branch offices.

For 1991, the company reported net income of $2.7 million, or 86 cents per share, up 92% from $1.4 million, or 49 cents per share, a year earlier. Revenue rose 46% to $12.4 million, up from $8.5 million a year earlier.