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Technology Stocks : PictureTel (PCTL)

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Aug 4 2:00 PM EST

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To: margin_man who wrote (511)	6/27/1997 10:28:00 AM
From: margin_man	of 920

From Zacks: SYDNEY, AUSTRALIA, 1997 JUN 26 (NB) -- By Stuart Kennedy, Computer Daily News. Ex-Lotus Australia executive Gordon Makryllos quietly took over the reigns of PictureTel Australia [NASDAQ:PCTL] some nine weeks ago and laid low while he boned up on the esoterics of videoconferencing. Yesterday, he came out of the closet with a press release announcing his appointment as managing director of the Australian subsidiary and his "mission" to further PictureTel's fortunes through market education. According to Makryllos, the Down Under PictureTel arm pulled in A$20 million (US$ 15 million) for the calendar year 1996 and expects to haul in $25-30 million this year. He's chasing an overall Australian videoconferencing market of $170 million. Selling fast, he says, is PictureTel's A$16,000 SwiftSite TV-top videoconferencing box which execs are installing on their home TVs. "We did 10 percent of the worldwide ship (in Australia), " he said proudly.

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