STM Wireless Profits Plummet

STM Wireless Inc., an Irvine provider of communications equipment, said net income for the third quarter dropped to $38,000, or 1 cent a share, from $1.2 million, or 18 cents a share, a year ago. Revenue declined 31% to $14.3 million from $20.6 million.

The company said it was recovering from the decline in revenues from Southeast Asia, which accounted for about 60% of its revenue during 1997.