Coherent Communications Systems Corp. announces 2-for-1 stock split.LEESBURG, Va.--(BUSINESS WIRE)--June 5, 1995--Coherent Communications Systems Corp. (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 :CCSC CCSC Consortium for Computing in Small Colleges CCSC Cheung Chuk Shan College (Hong Kong) CCSC Chicagoland Construction Safety Council CCSC Cemetery Consumer Service Council CCSC Commercial Computer Security Centre ), which became a public corporation in June 1994, announced a 2-for-1 stock split of the company's shares of common stock. Each shareholder of common stock of record at the close of business on June 9, 1995, will receive one additional share of common stock for each share of stock held. Stock certificates will be mailed on June 26, 1995. Following the stock split, Coherent will have approximately 14.6 million shares outstanding. Coherent's chief executive officer, Daniel L. McGinnis, commented: "Coherent has enjoyed an extremely successful year, thanks to the contributions of our dedicated, competent people. Sales and profits have risen significantly, with first quarter sales and profits increasing by 62% and 173%, respectively. "It is therefore very pleasing to observe our first anniversary as a public corporation with this 2-for-1 stock split. I would like to publicly thank our excellent team of people. Without them, the achievements of the past year would not have been possible. We succeeded in solving the acoustic echo and noise problem in digital cellular networks, a major technological breakthrough for the industry. "Also, on the technology front, we won a National Science Foundation grant and demonstrated our commitment to further improved standards by joining the AITU AITU Association Internationale du Théâtre à l'Université AITU Alliance of Independent Telephone Unions . As a company, we have continued to demonstrate steady growth, doubling our sales and engineering staff, and obtaining ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certification for the entire organization. We also succeeded in licensing several former competitors, thereby further enhancing our market position." Coherent Communications Systems Corp. is a worldwide leader in state-of-the-art voice enhancement technology, spanning echo cancellation The elimination of an echo in a two-way voice transmission. Echo is created in the telephone company's central office switch when two-wire lines from the customer are converted to four-wire lines for backbone trunks. platforms and associated network software. The company's products are used globally by major network operators, including AT&T Wireless, Cellular One, British Telecom The telephone and communications carrier that provides services in Great Britain and Northern Ireland. It used to be a division of the British Post Office, but was privatized in 1984 under Margaret Thatcher's administration. , Telmex, Deutsche Telekom Deutsche Telekom AG (ISIN: DE0005557508, FWB: DTE, NYSE: DT, LSE: DEU, TYO: 9496 ) (abbreviated DTAG) is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Germany and in the EU. and France Telecom among the extensive list. Coherent's expertise in acoustic echo cancellation is also reflected in its state-of-the-art, full duplex audio conferencing systems, which support desktop, teleconferencing and videoconferencing applications. CONTACT: Coherent(tm) Communications Systems Corp., Leesburg Daniel L. McGinnis, 703/729-6400, ext. 300 |
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