Satellite Technology Management Inc.: The Costa Mesa...

Satellite Technology Management Inc.: The Costa Mesa manufacturer of satellite communications networks reported a 38% decline in profit for the first quarter to $295,600, or 6 cents a share, from $478,200, or 9 cents a share, for the comparable three months last year. The 1993 quarter included a gain of $365,000 from an accounting change. Revenue for the latest three months rose 63% to $6.7 million from $4.1 million.