Vertel Reports Net Loss of $3 Million in Quarter
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Vertel, Woodland Hills, reported a net loss for the third quarter ended Sept. 30 of $3 million compared with a net income of $973,000 for the same period last year. Revenue dropped to $4.7 million compared with $4.9 million.
Vertel also announced it will reduce its work force, move engineering of some products offshore and move the remaining engineering functions to San Diego.
The company provides broad-band Internet software technologies and applications to telecommunications industries.
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