C-Phone Corporation announces record orders totaling $865,000 for the August 31, 1996 quarter.WILMINGTON, N.C.--(BUSINESS WIRE)--Sept. 4, 1996--C-Phone Corporation, formerly Target Technologies, Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : "CFON CFON Cape Fiber-Optic Network (Eastern Launch and Test Range) ") announced today that for the quarter ended August 31, 1996, it received record orders totaling $865,000 for its C-Phone desktop video conferencing products, including associated software and installation. Approximately $670,000 of these orders are being recognized in the August 31 quarter and the balance will be recognized in the current quarter. Results of operations for the August 31 quarter will be released prior to October 15, 1996. According to Daniel Flohr, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "This was our strongest quarter yet. Orders were up significantly. We are extremely pleased that C-Phone is being chosen as the video conferencing solution by major organizations representing a broad range of industries. Along with strong orders, the rate of use of our cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. has decreased as we move steadily towards profitability." Flohr continued, "With the recent addition of David DeSimone, a former MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. executive, as our Vice President of Sales and Marketing, and with some new products to be introduced this quarter, we continue to be confident that we are on the right track." Full-feature Phone System for Video Conferencing C-Phone allows personal computers on a LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. to function as if they were phones on a video private branch exchange (PBX (Private Branch eXchange) An inhouse telephone switching system that interconnects telephone extensions to each other as well as to the outside telephone network (PSTN). ) telephone system. Users can make and transfer video phone calls to each other, as well as to other videophone (1) (VideoPhone) A line of videophones (definition #1 below) from AT&T that were introduced in the early 1990s and later pulled off the market due to poor sales. The first models came with a price tag above $1,000, and a pair were needed. See Picturephone. and video conferencing users worldwide. All calls made within the LAN feature broadcast-quality video (30 frames-per-second, full-screen) with synchronized audio. The C-Phone system enables users to make live video phone calls from their desktop PCs to others connected on the network. A video conferencing system as well, C-Phone allows users to make calls over high-speed digital phone lines to remote sites. A hardware and software video solution, C-Phone has a suggested list price of $1,995 per PC. About C-Phone C-Phone Corporation, maker of C-Phone, is a North Carolina-based video conferencing systems manufacturer that has gained recognition as an innovator and provider of scalable, flexible, practical and easy-to-use video conferencing products. The Company's unique PBX-style approach, with high-quality desktop video conferencing in a shared environment, continues to position the Company as a key supplier in the emerging video conferencing market. -0- C-Phone Corporation, 6714 Netherlands Drive, Wilmington, NC 28405 (910) 395-6100, Fax: (910) 395-6108, Video: (910) 772-9146 (Bonding to 6B, 336Kb), Internet: http://www.cphone.com, E-mail: cphone@cphone.com CONTACT: C-Phone Corporation, Wilmington Patti Pocsik, 910/395-6100 |
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