Net Income and Revenue Accelerate at STM Wireless

IRVINE — 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.