Flash has several publishing options beyond the basic SWF format that is used primarily on the web. Similar to a program like Final Cut Pro or AfterEffects, your .fla or Flash file is a work file that needs to be exported to a published version. Flash projectors are powerful files that can be created in both Mac and Windows platforms (see screenshot of Flash Publish Settings Options below). Projector files do not require Flash Player in order to be viewed, so they are great for presentations and interactive works. Flash projectors can also be viewed at full screen, unlike a SWF.
*Projectors created in Flash 8 (not yet available in CS3) allow for additional scripting via FSCommands.
The screenshot below shows the Flash Publish Settings Option window available under the "File" menu.