STM Wireless Inc.: The Irvine manufacturer of...

STM Wireless Inc.: The Irvine manufacturer of satellite and radio communication products posted lower first-quarter earnings and revenue.

Net income fell 23% to $404,000, or 7 cents a share, from the year-earlier figure of $522,000, or 9 cents a share. The company attributed the decline in profit to increased research and development expenses. Revenue rose 25% to $7.4 million from $5.9 million.

STM also reported the completion of the sale of its R.F. Microsystems subsidiary and technology to Remec for approximately $4 million in cash. The revenue figures do not include the $1.2-million revenue recorded for R.F. Microsystems for both first quarters in 1995 and 1996.