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Technology / AI and automation


VTEL Corp, the Austin, Texas based videoconferencing specialist has reported fourth quarter net losses of $35.5m, including merger and other related expenses of $29.5m, on revenue of $46.0m; net losses for the year to July 31 were $54.6m on revenue of $191.0m. In May 1996, VTEL changed its fiscal year end from December 31 to July 31 and on May 23 the company merged with Compression Labs Inc. The company has therefore not provided comparative figures.

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