We study the effect of extragalactic point sources on satellite observations of the cosmic microwave background (CMB). In order to separate the contributions due to different foreground components, a maximum-entropy method is applied to simulated observations by the Planck Surveyor satellite. In addition to point sources, the simulations include emission from the CMB and the kinetic and thermal Sunyaev-Zeldovich (SZ) effects from galaxy clusters, as well as Galactic dust, free-free and synchrotron emission. We find that the main input components are faithfully recovered and, in particular, that the quality of the CMB reconstruction is only slightly reduced by the presence of point sources. In addition, we find that it is possible to recover accurate point source catalogues at each of the Planck Surveyor observing frequencies.