Net Income and Revenue Accelerate at STM Wireless

STM Wireless Inc. reported Tuesday that net income surged for the third quarter as revenue more than doubled.

The manufacturer of wireless communications products said net income rose to $1.1 million, or 17 cents a share, from $52,000, or 1 cent a share, for the third quarter last year. Revenue totaled $17.5 million, up from $7.9 million. Year-to-date net income climbed to $2 million, or 32 cents a share, from $925,000, or 15 cents a share, for the like nine-month period of 1996. Revenue rose 56% to $39.4 million from $25.2 million.