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PICTURETEL ADJUSTS SECOND HALF FORECAST; ANNOUNCES MANAGEMENT CHANGES

PICTURETEL ADJUSTS SECOND HALF FORECAST; ANNOUNCES MANAGEMENT CHANGES
 DANVERS, Mass., Aug. 24 /PRNewswire/ -- PictureTel Corporation (NASDAQ: PCTL) today announced it has adjusted revenue expectations for the year and now expects total year revenues to be below analyst expectations for 1992. Third quarter revenues are expected to be flat or slightly down compared to the second quarter with earnings expected to be around break even.
 The company also announced that Michael S. Gutman, executive vice president, chief operating officer and a member of the board of directors has resigned to pursue other opportunities. He will remain available to the company on a consulting basis. Additionally, Mark S. Mayes, vice president, engineering, has accepted the position of vice president of product planning, reporting to J. Carl Masi, senior vice president, marketing and businessline development. In the interim, Norman E. Gaut, chief executive officer, will serve as vice president, engineering.
 "It is clear that we will fall short of our aggressive plans for the year. We are taking actions to align costs with the revised revenue expectations. We do not expect to make up all of the impact on earnings resulting from the revenue shortfall, but it is too early to know exactly what the earnings range will be. We are still confident of the dynamic growth of the videoconferencing market and our position as a leader in its development," Gaut said.
 PictureTel Corporation, headquartered in Danvers, Mass., develops, manufactures and markets software-upgradeable visual telecommunications products for worldwide use with public and private digital networks. PictureTel videoconferencing systems enable dial-up, full-motion video calls with the convenience and economy of ordinary telephone service.
 -0- 8/24/92
 /CONTACT: Ron Taylor, 508-762-5178; or Joan Nevins, 508-762-5208, both of PictureTel; or John Coulbourn of Rourke & Company, 617-267-0042, for PictureTel/
 (PCTL) CO: PictureTel Corporation ST: Massachusetts IN: CPR TEL SU:


DH -- NE013 -- 2730 08/24/92 16:59 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
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