STM Wireless Inc.

The Irvine provider of communications products reported net income of $368,000, or 5 cents a share, for the second quarter, compared with $4.4 million, or 60 cents a share, a year ago. The results include a $3-million gain in the recent quarter and a $10-million gain a year ago from the sale of Telecom Multimedia Systems Inc., the company’s former majority-owned subsidiary.

Revenue declined 34% to $6 million. The company said that as part of its cost-reduction plan it closed its Atlanta facility and relocated those operations to Irvine.