|By Business Wire||
|March 29, 2012 08:01 AM EDT||
SeaChange International, Inc. (NASDAQ: SEAC), an industry leading multi-screen video software company, today reported revenue of $51.7 million (excluding $2.4 million in revenues related to discontinued operations) and a non-GAAP income per share from continuing operations of $0.18 for the fourth quarter ended January 31, 2012. In comparison, fourth quarter fiscal 2011 revenue was $57.9 million and non-GAAP income per share from continuing operations was $0.19, respectively. The Company’s fourth quarter and full year financial results reflect the impact of its previously announced agreement to sell its former broadcast servers and storage business while retaining its video streaming software and related hardware business; accordingly, the Company has reflected this business as discontinued operations in its financial statements for fiscal 2012 and for comparative purposes in prior periods. The Company posted a GAAP loss from continuing operations for the fourth quarter of fiscal 2012 of approximately $3.5 million compared with GAAP income from continuing operations of $11.2 million for the fourth quarter of fiscal 2011. Included in the fourth quarter fiscal 2012 loss from continuing operations were restructuring charges of $3.1 million, primarily related to headcount reductions, and $1.8 million of earn-out expenses related to prior acquisitions, whereas in the fourth quarter of fiscal 2011, the Company recorded a gain on the sale of an affiliate for $1.9 million.
For the fiscal year ended, January 31, 2012, the Company posted total revenues of $197.7 million, which was approximately $4.0 million lower than total revenues of $201.7 million for fiscal 2011. However, non-GAAP income from continuing operations for fiscal 2012 was $16.4 million, or $0.51 per share, compared with non-GAAP income from continuing operations of $15.7 million, or $0.49 per share, for the same prior period. The Company posted a GAAP loss from continuing operations of approximately $1.3 million in fiscal 2012 compared to GAAP income from continuing operations of $31.6 million for fiscal 2011, as that year included a $27.1 million pre-tax gain on the sale of the Company’s equity investment in Casa Systems, Inc. and InSite One, Inc. Included in the Company’s total fiscal 2012 loss from continuing operations are costs related to restructuring charges, primarily as a result of headcount reductions, and earn-out expenses related to prior acquisitions which together totaled approximately $6.6 million.
“With intense focus on execution, we ended fiscal 2012 with our strongest quarterly operating performance of the year,” said Raghu Rau, Chief Executive Officer, SeaChange. “Our focus in fiscal 2013 is on the execution of our strategy to transform the Company into a pure-play software provider, lowering our overall cost structure, delivering industry leading, next generation solutions and achieving superior financial results. We recently announced the divestiture of our broadcast servers and storage business and are actively engaged in the potential divesture of other non-core assets that do not fit into our long-term business strategy.”
Mr. Rau continued, “In addition to the $ 5.0 million in annualized cost reductions announced earlier this year and the significant reductions in operating expenses as a result of the divestiture of the broadcast servers and storage business, we expect further operating expense reductions in the first half of this year through product and market rationalization and reductions in general and administrative costs. We will continue to invest significantly in research and development by moving investments from legacy to next generation products and building our intellectual property. In fiscal 2013, SeaChange will become a leaner and more agile company focused on bringing new products to market that deliver a competitive advantage to our service provider customers and drive increased value for our shareholders.”
The Company ended fiscal year 2012 with cash, cash equivalents and marketable securities of $93.8 million compared to $88.9 million at the end of the third quarter of fiscal 2012. The increase in cash was primarily attributable to cash generated from operations.
“We are excited about the prospects for a transformed SeaChange in fiscal 2013,” said Mr. Rau. “We anticipate full year fiscal 2013 total revenues to be in the range of $188 million to $200 million with software revenues to be in the range of $150 million to $160 million and media services revenues to be in the range of $38 million to $40 million. We also anticipate full year non-GAAP total operating income to be in the range of $19.5 million to $23.5 million as we anticipate the software segment accounting for $17 million to $20 million and media services segment accounting for $2.5 million to $3.5 million of this range. For the first quarter of fiscal 2013, we expect software revenues to be in the range of $35 million to $37 million taking into account certain product and market rationalization efforts, including exiting unprofitable products and markets, and media services revenues to be in the range of $7.8 million to $8.2 million.”
The Company will host its fourth quarter and full year fiscal 2012 conference call on Thursday, March 29, 2012 at 8:30 a.m. E.T. The live webcast can be accessed at www.schange.com/ir. Supplemental financial information and prepared remarks for the conference call will be posted to the Investor Relations section of our website simultaneously with this press release.
About SeaChange International
Ranked among the top 250 software companies in the world, SeaChange International (NASDAQ: SEAC) enables transformative multi-screen video services through an open, cloud-based, intelligent software platform trusted by cable, IPTV and mobile operators globally. Personalized and fully monetized video experiences anytime on any device, in the home and everywhere, are the product of the Company’s superior back office, advertising, content and home gateway offerings.
SeaChange’s hundreds of customers are many of the world’s most powerful media brands including all major cable operators in the Americas and Europe, and the largest telecom companies in the world. Headquartered in Acton, Massachusetts, SeaChange is TL 9000 certified and has product development, support and sales offices around the world. Visit www.schange.com.
Safe Harbor Provision
Any statements contained in this press release that do not describe historical facts, including without limitation statements regarding the divestiture of the Broadcast Servers and Storage business unit, including the potential impact on the Company, the Company’s business focus and future financial performance, are neither promises nor guarantees and may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements contained herein are based on current assumptions and expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. Factors that could cause actual future results to differ materially from current expectations include the following: the continued growth, development and acceptance of the multi-screen video market; the loss of one of the Company's large customers; the ability of the Company to transition to a pure-play software company; the effectiveness of the Company’s cost-cutting measures; the uncertainties introduced by our evaluation of strategic alternatives; the cancellation or deferral of purchases of the Company’s products; the length of our sales cycles; the Company’s ability to manage its growth; the ability of the Company to successfully sell its Broadcast Servers and Storage business unit and non-core assets; the effectiveness of the Company’s disclosure controls and procedures and internal controls over financial reporting; the Company’s ability to protect its intellectual property rights and the expenses that may be incurred by the Company to protect its intellectual property rights; an unfavorable result of current or future litigation; content providers limiting the scope of content licensed for use in the video-on-demand market; the Company’s ability to successfully introduce new products or enhancements to existing products on a timely basis; the Company's ability to compete in its marketplace; the Company’s ability to respond to changing technologies; the risks associated with international sales and operations; changes in the regulatory environment; the Company’s ability to integrate the operations of acquired subsidiaries; the Company’s ability to hire and retain highly skilled employees; and increasing social and political turmoil.
Further information on factors that could cause actual results to differ from those anticipated is detailed in various publicly available documents made by the Company from time to time with the Securities and Exchange Commission, including but not limited to, those appearing under the caption "Certain Risk Factors" in the Company’s Annual Report on Form 10K filed on April 14, 2011. Any forward-looking statements should be considered in light of those factors. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations or events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results may differ from those set forth in the forward-looking statements.
Use of Non-GAAP Financial Information
To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures that we believe are helpful in understanding our past financial performance and future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand and manage our business and make operating decisions. Our non-GAAP financial measures include adjustments based on the following items, as well as the related income tax effects and adjustments to the valuation allowance:
Revenue: Business combination accounting rules require us to account for the fair value of customer contracts assumed in connection with our acquisitions. In connection with the acquisitions of eventIS Group B.V. on September 1, 2009, and VividLogic, Inc. on February 1, 2010, the book value of our deferred software revenue was reduced by approximately $6.0 million in the adjustment to fair value. Because these customer contracts may take up to 18 months to complete, our GAAP revenues subsequent to these acquisitions do not reflect the full amount of software revenues on assumed customer contracts that would have otherwise been recorded by eventIS Group B.V. and VividLogic, Inc. In addition, we accelerated revenue recognition on a significant terminated contract in fiscal 2011. We believe these adjustments are useful to investors as a measure of the ongoing performance of our business because we have historically experienced high renewal rates on similar customer contracts, although we cannot be certain that customers will renew these contracts.
Stock-based compensation expenses: We have excluded the effect of stock-based compensation and stock-based payroll expenses from our non-GAAP operating expenses and net income measures. Although stock-based compensation is a key incentive offered to our employees, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.
Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses and net income measures. Amortization of intangibles is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to revenues earned during the periods presented and will contribute to future period revenues as well. Amortization of intangibles assets will recur in future periods.
Acquisition related costs: We incurred significant expenses in connection with our acquisitions of eventIS Group B.V. and VividLogic, Inc. and also incurred certain other operating and non-operating expenses, which we generally would not have otherwise incurred in the periods presented. Acquisition related and other expenses consist of transaction costs, costs for transitional employees, other acquired employee related costs, integration of related professional services and changes in contingent liabilities related to estimated earn-out payments. We believe it is useful for investors to understand the effects of these items on our total operating expenses.
Restructuring: We incurred significant expenses in connection with selected headcount reductions, a write-down of inventory to net realizable value reflecting the discontinuance of certain inventory components, and the disposal of fixed assets. We believe it is useful for investors to understand the effects of these items on our total operating expenses.
Strategic alternatives-related costs: We incurred significant legal and other professional fees in connection with the Company’s review of strategic alternatives. We believe it is useful for investors to understand the effects of these items on our total operating expenses.
Income from sale of investments in affiliates: For fiscal 2011 only, this reflects the gain, excluding any tax effects, on the sale of our investment in Casa Systems. This is considered a one-time event and not included in the financial results of our continuing operations.
Impairment of asset held for sale: We incurred a significant write-down of an owned property in connection with the divesture of our former servers and storage business segment. We believe it is useful for investors to understand the effects of this item on our other expenses.
Income tax expense (benefit): The income tax adjustment reflects the effective tax rate for the year in which the non-GAAP adjustment occurs and excludes any changes in the tax valuation allowance.
|SeaChange International, Inc.|
|Condensed Consolidated Balance Sheets|
|(in thousands, except share data)|
|January 31, 2012||January 31, 2011|
|Cash and marketable securities||
|Accounts receivable, net||55,145||54,487|
|Prepaid expenses and other current assets||10,760||10,731|
|Assets held for sale||646||-|
|Property and equipment, net||30,566||34,858|
|Goodwill and intangible assets, net||87,401||94,985|
|Assets related to discontinued operations||5,465||5,769|
|Liabilities and Stockholders’ Equity|
|Accounts payable and other current liabilities||$||31,914||$||31,953|
|Other long term liabilities||9,204||12,392|
|Deferred tax liabilities and income taxes payable||7,727||7,735|
|Liabilities related to discontinued operations||2,779||3,326|
|Total stockholders’ equity||210,938||209,142|
|Total liabilities and stockholders’ equity||$||299,035||$||305,191|
|SeaChange International, Inc.|
|Condensed Consolidated Statement of Operations - Unaudited|
|(in thousands, except per share data)|
|Three Months Ended||Twelve Months Ended|
|Cost of revenues||25,387||26,312||99,693||98,832|
|Research and development||9,984||10,340||40,692||44,569|
|Selling and marketing||4,812||5,156||21,619||21,055|
|General and administrative||5,623||6,076||24,116||23,647|
|Amortization of intangibles||955||847||3,923||3,359|
|Total operating expenses||26,264||22,902||96,978||100,391|
|Income from operations||46||8,669||1,034||2,464|
|Gain on sale of investment in affiliate||-||1,883||-||27,071|
|Other expense, net||(730||)||(495||)||(358||)||(418||)|
|(Loss) income before income taxes and equity (loss) income in earnings of affiliates||(684||)||10,057||676||29,117|
|Income tax (benefit) provision||2,680||(788||)||2,193||(2,438||)|
|Equity (loss) income in earnings of affiliates, net of tax||(176||)||369||233||85|
|(Loss) income from continuing operations||$||(3,540||)||$||11,214||$||(1,284||)||$||31,640|
|Loss from discontinued operations||$||(1,285||)||$||(261||)||$||(2,730||)||$||(2,172||)|
|Net (loss) income||$||(4,825||)||$||10,953||$||(4,014||)||$||29,468|
|Earnings per share:|
|Basic (loss) income per share||$||(0.15||)||$||0.35||$||(0.13||)||$||0.94|
|Diluted (loss) income per share||$||(0.15||)||$||0.34||$||(0.13||)||$||0.92|
|Earnings per share from continuing operations:|
|Basic (loss) income per share||$||(0.11||)||$||0.35||$||(0.04||)||$||1.01|
|Diluted (loss) income per share||$||(0.11||)||$||0.35||$||(0.04||)||$||0.99|
|Earnings per share from discontinued operations:|
|Basic (loss) income per share||$||(0.04||)||$||0.00||$||(0.09||)||$||(0.07||)|
|Diluted (loss) income per share||$||(0.04||)||$||(0.01||)||$||(0.09||)||$||(0.07||)|
|Weighted average common shares outstanding:|
|SeaChange International, Inc.|
|Condensed Consolidated Operating Segments - Unaudited|
|Three Months Ended||Twelve Months Ended|
|Research and development||9,984||10,340||40,692||44,569|
|Selling and marketing||4,812||5,156||21,619||21,055|
|General and administrative||526||529||2,032||1,465|
|Amortization of intangibles||922||774||3,784||3,073|
|Income from operations||$||4,516||$||13,929||$||19,352||$||21,053|
|General and administrative||525||912||3,421||4,026|
|Amortization of intangibles||33||73||139||286|
|Income (loss) from operations||$||1,052||$||(625||)||$||1,295||$||479|
|General and administrative||$||4,572||$||4,635||$||18,663||$||18,156|
|Total unallocated corporate expenses||$||5,522||$||4,635||$||19,613||$||19,068|
|Consolidated income from operations||$||46||$||8,669||$||1,034||$||2,464|
|SeaChange International, Inc.|
|Reconciliation of Selected GAAP Measures to Non-GAAP Measures - Unaudited|
|Three Months Ended||Three Months Ended||Twelve Months Ended||Twelve Months Ended|
|January 31, 2012||January 31, 2011||January 31, 2012||January 31, 2011|
|Deferred revenue-acquisition related (1)||-||-||(12||)||(12||)||-||3,876||3,876|
|Deferred revenue-maintenance acceleration (2)||(12||)||(12||)||(4,559||)||(4,559||)||7||7||(4,559||)||(4,559||)|
|Stock-based compensation (3)||-||(209||)||(209||)||-||1,532||1,532||-||2,869||2,869||-||2,720||2,720|
|Amortization of intangible assets (4)||-||1,474||1,474||-||1,429||1,429||-||6,081||6,081||-||5,345||5,345|
|Acquisition related costs (5)||-||1,795||1,795||-||430||430||-||3,312||3,312||-||1,595||1,595|
|Strategic alternatives related costs (7)||-||508||508||-||-||-||-||1,762||1,762||-||-||-|
|(Loss) income from operations||46||6,651||6,697||8,669||(1,127||)||7,542||1,034||17,347||18,381||2,464||15,974||18,438|
|Gain from sale of investments in affiliates (8)||-||-||-||1,883||(1,883||)||-||-||-||-||27,071||(27,071||)||-|
|Impairment of asset held for sale (9)||(678||)||678||-||(678||)||678||-|
|Income tax impact expense (benefit) (10)||2,680||2,115||565||(788||)||2,137||1,349||2,193||385||2,578||(2,438||)||4,865||2,427|
|(Loss) income from continuing operations||(3,540||)||9,444||5,904||11,214||(5,147||)||6,067||(1,284||)||17,640||16,356||31,640||(15,962||)||15,678|
|(Loss) from discontinued operations||(1,285||)||493||(792||)||(261||)||137||(124||)||(2,730||)||1,127||(1,603||)||(2,172||)||237||(1,935||)|
|Net income (loss)||$||(4,825||)||$||9,937||$||5,112||$||10,953||$||(5,010||)||$||5,943||$||(4,014||)||$||18,767||$||14,753||$||29,468||$||(15,725||)||$||13,743|
|Earnings per share:||$||(0.15||)||$||0.31||0.16||$||0.34||$||(0.16||)||$||0.18||$||(0.13||)||$||0.59||$||0.46||$||0.92||$||(0.49||)||$||0.43|
|Earnings per share from continuing operations:||$||(0.11||)||$||0.29||$||0.18||$||0.35||$||(0.16||)||$||0.19||$||(0.04||)||$||0.55||$||0.51||$||0.99||$||(0.50||)||$||0.49|
|Earnings per share from discontinued operations:||$||(0.04||)||$||0.02||$||(0.02||)||$||(0.01||)||$||0.00||$||(0.01||)||$||(0.09||)||$||0.04||$||(0.05||)||$||(0.07||)||$||0.01||$||(0.06||)|
|Diluted weighted average common shares outstanding||32,206||32,206||32,206||32,152||32,152||32,152||32,093||32,093||32,093||31,986||31,986||31,986|
|(1)||Business combination accounting rules require us to account for the fair value of deferred revenue assumed in connection with an acquisition.|
This non-GAAP adjustment reflects the full amount of software contract revenue that would have otherwise been recorded subsequent to our acquisition of eventIS Group B.V. and VividLogic, Inc.
|(2)||Recognition of previously deferred maintenance revenues from customer termination notice.|
|(3)||For GAAP purposes, stock-based compensation is included in the following expense categories:|
|Three Months Ended||Twelve Months Ended|
|Cost of revenues||$ 22||$ 183||$ 405||$ 330|
|Research and development||168||123||73||392|
|Selling and marketing||(396)||476||609||746|
|General and administrative||(3)||750||1,782||1,252|
|Total stock-based compensation||$ (209)||$ 1,532||$ 2,869||$ 2,720|
|(4)||The intangible assets recorded at fair value as a result of our acquisitions are amortized over the estimated useful life of the related asset.|
Amortization expense related to intangible assets is included in the following expense categories:
|Three Months Ended||Twelve Months Ended|
|Cost of revenues:||$ 519||$ 582||$ 2,158||$ 1,986|
|Total amortization of intangibles||$ 1,474||$ 1,429||$ 6,081||$ 5,345|
We incurred expenses in connection with our acquisitions which would not have otherwise occurred in the periods presented as part of our operating expenses.
We incurred charges due to the restructuring of our business including severance charges, write-down of inventory and disposal of fixed assets, which we generally would not have otherwise incurred in the periods presented as part of continuing operations.
|(7)||We incurred legal and other professional fees in connection with the Company's review of strategic alternatives.|
|(8)||Reflects the gain on the sale of the equity investment in Casa Systems and InSite One, Inc.|
|(9)||We incurred an impairment charge from the write-down of building held for sale.|
The non-GAAP income tax adjustment reflects the effective income tax rate in which the non-GAAP adjustment occurs and any exclusion of changes in the tax valuation allowance.
SeaChange International, Inc.
Fourth Quarter and Full Year Fiscal Year 2012 Results
March 29, 2012
SeaChange is providing a copy of these prepared remarks in combination with its press release. This process and these remarks are offered to allow investors and analysts additional time and detail for analyzing our financial results in advance of our quarterly and full year conference call. As previously scheduled, the conference call will begin today, March 29, at 8:30 a.m. E.T. and will include comments followed by questions and answers. These prepared remarks will not be read on the call.
The conference call may be accessed using the following information:
-Telephone: 877-618-0011 (U.S.) and 973-200-3380 (international)
- Conference ID: 591 590 81
- Live webcast: www.schange.com/IR (An archived recording will be available at this site.)
Fiscal 2012 Fourth Quarter and Full Year Financial Discussion
Total revenues for the fourth quarter of fiscal 2012 amounted to $51.7 million, which were $6.2 million or 10.7% lower than revenues of $57.9 million recorded in the fourth quarter of last year. From an operating segment perspective, revenues from the Company’s Software segment for the fourth quarter were $43.3 million which were $8.2 million or approximately 16% lower than revenues of $51.5 million for the fourth quarter of fiscal 2011. The primary reasons for the decrease in Software revenues quarter over quarter were due to lower service revenues, as the prior year included a $4.6 million adjustment related to the acceleration of deferred maintenance revenue from the deactivation of the VOD systems at a customer, and the Company also experienced lower VOD server shipments year over year.
The Media Services segment generated revenues for the fourth quarter of fiscal 2012 of $8.4 million which were $2.0 million or approximately 31% higher than revenues of $6.4 million in the fourth quarter of fiscal 2011. The increase in Media Services revenues in this year’s fourth quarter compared to last year was the result of recent contract wins in Latin America and Eastern Europe.
Total revenues for the full year ended 2012 amounted to $197.7 million, which were $4.0 million or 2.0% lower than revenues of $201.7 million recorded in the same prior period. From an operating segment perspective, Software revenues for the full year fiscal 2012 amounted to $164.8 million, which were $8.9 million or approximately 5.1% lower than the $173.7 million of revenues generated in fiscal 2011. The primary reasons for the decrease in Software revenues year over year were due to lower VOD server revenues and the prior year maintenance adjustment described above.
For the full year fiscal 2012, the Media Services segment generated revenues of $32.9 million which was $4.9 million or approximately 17.5% higher than revenues of $28.0 million for the same prior period. The increase in Media Services revenues for fiscal 2012 compared to last year was primarily the result of recent contract wins in Latin America and Eastern Europe as well as higher content processing revenues from customers in France and Dubai.
The Company’s total gross margin of 50.9% for the fourth quarter of fiscal 2012 was 3.6 points lower than total gross margin of 54.5% for last year’s fourth quarter. Reviewing gross margin by business segment, the Software segment gross margin for this year’s fourth quarter of 57.0% was 3.7 points lower than the gross margin of 60.7% for the fourth quarter of fiscal 2011. The decrease in Software segment gross margin was primarily the result of lower service margins due to the maintenance transaction last year, partially offset by higher advertising product margins.
Media Services gross margin of 19.2% for the fourth quarter of this year was 13.6 points higher than gross margins of 5.6% for the fourth quarter of last year. The increase in gross margin between quarters was due primarily to lower content acquisition costs.
The Company’s total gross margin for the full fiscal year was 49.6% or 1.4 points lower than total gross margin of 51.0% for the same prior period last year. Reviewing gross margin by business segment, the Software segment gross margin was flat year over year at 56.5%; however, the Media Services gross margin of 14.8% for fiscal 2012 was 2.3 points lower than gross margins of 17.1% for the same prior period. The decrease in gross margin between years was due primarily to higher headcount costs to support recent contract wins in Latin America and Eastern Europe.
Total operating expenses for the fourth quarter of fiscal 2012 were $26.3 million or $3.4 million higher than the $22.9 million of total operating expenses incurred in the fourth quarter of last year. This year’s fourth quarter total operating expenses included $1.8 million of expenses related to estimated earn-out liabilities in connection with the VividLogic and eventIS acquisitions and $3.1 million of restructuring charges.
For fiscal 2012, total operating expenses of $97.0 million were $3.4 million lower than total operating expenses of $100.4 million for the same prior period. The decrease in total operating expenses between periods was the result of lower domestic research and development expenses due primarily to a reduction in headcount and as well as lower overall restructuring charges. These reductions were partially offset by increased general and administrative expenses related to the Company’s review of various strategic alternatives and increased earn-out related expenses as a result of the acquisitions of VividLogic and eventIS.
The management team looks forward to the earnings call on Thursday, March 29, 2012 at 8:30 a.m. E.T.
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Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
Oct. 21, 2016 01:15 AM EDT Reads: 2,909
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Oct. 21, 2016 12:30 AM EDT Reads: 1,921
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 21, 2016 12:30 AM EDT Reads: 9,580
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Oct. 21, 2016 12:15 AM EDT Reads: 3,452
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
Oct. 21, 2016 12:00 AM EDT Reads: 850
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 21, 2016 12:00 AM EDT Reads: 756
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Oct. 20, 2016 11:45 PM EDT Reads: 3,772
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Oct. 20, 2016 11:15 PM EDT Reads: 5,025
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 20, 2016 10:45 PM EDT Reads: 11,067
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
Oct. 20, 2016 10:45 PM EDT Reads: 1,093
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Oct. 20, 2016 10:30 PM EDT Reads: 1,958
As cloud adoption continues to transform business, today’s global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
Oct. 20, 2016 10:15 PM EDT Reads: 2,166
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 20, 2016 09:45 PM EDT Reads: 746