STM Wireless Records 1996 Loss

STM Wireless Inc. posted a loss for 1996 while revenue climbed 10%, the maker of wireless communications products reported Wednesday.

The company said it lost $4.8 million, or 82 cents a share, last year, contrasted with net income of $1.7 million, or 28 cents a share, for 1995. Revenue increased to $34.8 million from $31.7 million. A net loss of $5.7 million, or 98 cents a share, was posted for the fourth quarter, compared with a net loss of $549,000, or 9 cents a share, for the corresponding period of 1995. Revenue was up 10% to $9.6 million from $8.7 million. The results for the 1996 fourth quarter include one-time charges of $3.5 million for reserves for obsolescence and the settlement of contractual commitments and claims.