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Amdocs Limited Reports Quarterly Revenue of $822 Million, Up 1.2% YoY

Delivers Record Diluted non-GAAP EPS of $2.71 for Fiscal 2012, up 16% YoY, and Diluted GAAP EPS of $2.31

ST. LOUIS, Nov. 6, 2012 /PRNewswire/ -- 

Key highlights:

  • The board of directors has authorized a share repurchase plan allowing the repurchase of up to $500 million of ordinary shares at the company's discretion; this plan has no expiration date and is in addition to the current authorization program, which, as of September 30, 2012, provided up to $203 million of remaining repurchase authority through February 2013; the board of directors also approved $0.13 per share quarterly cash dividend to be paid on January 18, 2013
  • Fourth fiscal quarter revenue of $822 million, compared to the $815-$835 million guidance range. Foreign currency movements negatively affected revenue by approximately $1 million relative to the third fiscal quarter of 2012
  • Fourth fiscal quarter non-GAAP operating income of $137 million; non-GAAP operating margin of 16.6%; GAAP operating income of $114 million
  • Fourth fiscal quarter diluted non-GAAP EPS of $0.70, compared to the $0.66-$0.72 guidance range, excluding amortization of purchased intangible assets and other acquisition related costs and equity-based compensation expense, net of related tax effects
  • Diluted GAAP EPS of $0.60 for the fourth fiscal quarter, compared to the $0.54-$0.62 guidance range
  • Free cash flow of $109 million for the fourth fiscal quarter
  • Twelve-month backlog of $2.79 billion at the end of the fourth fiscal quarter, up $30 million from the end of the third fiscal quarter of 2012
  • Repurchased $106 million of ordinary shares during the fourth fiscal quarter
  • First quarter fiscal 2013 guidance: Expected revenue of approximately $810-$840 million and diluted non-GAAP EPS of $0.68-$0.74, excluding amortization of purchased intangible assets and other acquisition-related costs and approximately $0.06-$0.07 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $0.56-$0.64
  • Fiscal 2013 guidance: Expected revenue growth of 2-5% and non-GAAP diluted earnings per share growth of roughly 5-8%, including the impact of anticipated share repurchase activity over the course of the fiscal year

Amdocs Limited (NYSE: DOX) today reported that for its fiscal quarter ended September 30, 2012, revenue was $822.1 million, up 1.6% sequentially from the third fiscal quarter of 2012 and up 1.2% as compared to last year's fourth fiscal quarter. Net income on a non-GAAP basis was $115.7 million, or $0.70 per diluted share, compared to non-GAAP net income of $111.2 million, or $0.62 per diluted share, in the fourth quarter of fiscal 2011. Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition related costs and equity-based compensation expenses of $17.7 million, net of related tax effects, in the fourth quarter of fiscal 2012 and excludes such amortization and other acquisition related costs and equity-based compensation expenses of $23.8 million, net of related tax effects, in the fourth quarter of fiscal 2011. The Company's GAAP net income for the fourth quarter of fiscal 2012 was $98.0 million, or $0.60 per diluted share, compared to GAAP net income of $87.4 million, or $0.49 per diluted share, in the prior year's fourth fiscal quarter. 

"We concluded fiscal 2012 with another strong quarter, reflecting ongoing stabilization at AT&T, double-digit growth in our emerging markets and consistent operating margin execution.  Underscoring our commitment to returning excess cash, we repurchased an additional $106 million of our ordinary shares in the fourth fiscal quarter, and, as of September 30, 2012, we had acquired a total of 25% of our shares that were outstanding in April 2010. Overall, as a result of good new sales execution, a stable operating margin and our repurchase activity, we grew non-GAAP diluted earnings per share by 16% in fiscal 2012," said Eli Gelman, chief executive officer of Amdocs Management Limited.

Gelman continued, "North American demand trends improved in the fourth quarter, with the region returning to sequential growth.  We believe that announced M&A activity among operators in North America may drive long-term opportunity for Amdocs; however, it also adds some uncertainty to our 2013 outlook as consummation of such deals remains subject to contingencies.  Emerging markets continued to be a source of strength for year-over-year growth and we expect this trend to continue in 2013.  We also achieved stable activity levels in Europe in the fourth quarter to cap a strong fiscal 2012 in the region, although we remain aware of the challenging economic conditions heading in to 2013."

Gelman concluded, "In North America, we are delighted to announce today that Sprint has agreed to expand and extend its managed services relationship with Amdocs through 2021, including the addition of its Virgin Mobile-branded subscribers to the Amdocs platform.  This agreement brings us good long-term visibility with one of our largest customers and we believe represents a true 'win-win' outcome for both Sprint and Amdocs. Similarly, agreements with new and existing customers, such as Globe in the Philippines, TIM Brasil in Latin America and, just announced today, VimpelCom in Russia, should provide for further growth in the emerging markets in fiscal 2013. While the year ahead carries macroeconomic and industry specific risks, we believe we are competitively well positioned to achieve sustained growth in 2013."

Financial Discussion of Fourth Fiscal Quarter Results

Free cash flow was $109 million for the quarter, comprised of cash flow from operations of $152 million less $43 million in net capital expenditures and other.

Twelve-month backlog, which includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities, was $2.79 billion at the end of the fourth quarter of fiscal 2012. 

Fiscal Year 2012 Results

For the fiscal year ended September 30, 2012, revenue increased by 2.2% to $3.2 billion. Fiscal 2012 net income on a non-GAAP basis was $460.0 million, or $2.71 per diluted share (excluding amortization of purchased intangible assets and other acquisition related costs, gain on sale of investment and equity-based compensation expenses of $68.6 million, net of related tax effects), compared to non-GAAP net income of $434.6  million, or $2.33 per diluted share, in fiscal 2011 (excluding amortization of purchased intangible assets and other acquisition related costs and equity-based compensation expenses of $87.9 million, net of related tax effects). The Company's GAAP net income in fiscal 2012 was $391.4 million, or $2.31 per diluted share, compared to GAAP net income of $346.7 million, or $1.86 per diluted share, in fiscal 2011.

Financial Outlook

Amdocs expects that revenue for the first quarter of fiscal 2013 will be approximately $810-$840 million. Diluted earnings per share on a non-GAAP basis for the first fiscal quarter are expected to be $0.68-$0.74, excluding amortization of purchased intangible assets and other acquisition-related costs and approximately $0.06-$0.07 per share of equity-based compensation expense, net of related tax effects. Amdocs estimates GAAP diluted earnings per share for the first fiscal quarter will be $0.56-$0.64.

Quarterly Cash Dividend Program

On November 6, 2012, the Board approved the quarterly cash dividend payment and set December 31, 2012 as the record date for determining the shareholders entitled to receive the dividend, which is payable on January 18, 2013.

Conference Call Details

Amdocs will host a conference call on November 6, 2012 at 5:00 p.m. Eastern Time to discuss the Company's fourth fiscal quarter results. The call will be carried live on the Internet via the Amdocs website, www.amdocs.com.  

Non-GAAP Financial Measures
This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other income (expense), net, non-GAAP income taxes, non-GAAP net income, and non-GAAP diluted earnings per share growth. These non-GAAP measures exclude the following items:

  • amortization of purchased intangible assets and other acquisition related costs;
  • gain on sale of investment;
  • equity-based compensation expense; and
  • tax effects related to the above.

These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.

Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP income taxes, non-GAAP net income, and non-GAAP diluted earnings per share growth when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets and other acquisition related costs, gain on sale of investment, equity-based compensation expense and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these items in reviewing its results and those of its competitors, because the amounts of the items between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the items.

Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of service, research and development, selling, general and administrative, operating income, interest and other income (expense), net, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments.

Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

About Amdocs

For 30 years, Amdocs has ensured service providers' success and embraced their biggest challenges. To win in the connected world, service providers rely on Amdocs to simplify the customer experience, harness the data explosion, stay ahead with new services and improve operational efficiency. The global company uniquely combines a market-leading BSS, OSS and network control product portfolio with value-driven professional services and managed services operations.  With revenue of over $3.2 billion in fiscal 2012, Amdocs and its approximately 20,000 employees serve customers in more than 60 countries.

Amdocs: Embrace Challenge, Experience Success.

For more information, visit Amdocs at www.amdocs.com.

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2011 filed on December 8, 2011 and our Form 6-K furnished for the first quarter of fiscal 2012 on February 14, 2012, for the second quarter of fiscal 2012 on May 15, 2012, and for the third quarter of fiscal 2012 on August 16, 2012.

AMDOCS LIMITED

Consolidated Statements of Income

(in thousands, except per share data)

 








Three months ended


Twelve months ended



September 30,


September 30,



2012


2011


2012


2011








Revenue:









License


$          23,966


$           31,543


$     120,443


$     119,237

Service


798,162


780,660


3,126,460


3,058,491



822,128


812,203


3,246,903


3,177,728

Operating expenses:









Cost of license


541


1,099


3,523


2,627

Cost of service


528,998


524,251


2,081,945


2,066,740

Research and development


61,548


58,944


242,063


221,886

Selling, general and administrative


104,814


103,729


424,671


409,465

Amortization of purchased intangible
     assets and other


12,726


19,628


52,229


72,646



708,627


707,651


2,804,431


2,773,364

Operating income


113,501


104,552


442,472


404,364










Interest and other income (expense), net


116


(5,405)


(948)


(8,657)

Income before income taxes


113,617


99,147


441,524


395,707










Income taxes


15,596


11,768


50,153


49,042

Net income


$          98,021


$           87,379


$       391,371


$       346,665

Basic earnings per share


$              0.60


$               0.49


$             2.33


$             1.87

Diluted earnings per share


$              0.60


$               0.49


$             2.31


$             1.86

Basic weighted average number of shares
    outstanding


163,468


178,232


168,275


185,213

Diluted weighted average number of
    shares outstanding


164,689


179,378


169,437


186,559

Cash dividends declared per share


$              0.13


$                    -


$            0.13


$                 -

 

AMDOCS LIMITED

Selected Financial Metrics

(in thousands, except per share data)








Three months ended


Twelve months ended



September 30,


September 30,



2012


2011


2012


2011










Revenue


$          822,128


$         812,203


$    3,246,903


$      3,177,728










Non-GAAP operating income


136,673


133,883


538,130


513,641










Non-GAAP net income


115,684


111,187


459,998


434,580










Non-GAAP diluted earnings per share


$               0.70


$               0.62


$             2.71


$               2.33










Diluted weighted average number of
    shares outstanding


164,689


179,378


169,437


186,559

 

AMDOCS LIMITED

Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP

(in thousands)




Three months ended

September 30, 2012



Reconciliation items



GAAP

Amortization of purchased intangible assets and other

Equity based compensation expense

Tax   
effect

 

Non-GAAP

Operating expenses:






Cost of license

$         541

$                 -

$             -

$             -

$           541

Cost of service

528,998

-

(5,265)

-

523,733

Research and development

61,548

-

(1,039)

-

60,509

Selling, general and administrative

104,814

-

(4,142)

-

100,672

Amortization of purchased intangible
     assets and other

12,726

(12,726)

-

-

-

Total operating expenses

708,627

(12,726)

(10,446)

-

685,455







Operating income

113,501

12,726

10,446

-

136,673







Income taxes

15,596

-

-

5,509

21,105







Net income

$  98,021

$ 12,726

$ 10,446

$ (5,509)

$    115,684














Three months ended

September 30, 2011



Reconciliation items



GAAP

Amortization of purchased intangible assets and other

Equity based compensation expense

Tax    effect

 

Non-GAAP

Operating expenses:






Cost of license

$      1,099

$                 -

$             -

$             -

$        1,099

Cost of service

524,251

-

(4,718)

-

519,533

Research and development

58,944

-

(714)

-

58,230

Selling, general and administrative

103,729

-

(4,271)

-

99,458

Amortization of purchased intangible
     assets and other

19,628

(19,628)

-

-

-

Total operating expenses

707,651

(19,628)

(9,703)

-

678,320







Operating income

104,552

19,628

9,703

-

133,883







Income taxes

11,768

-

-

5,523

17,291







Net income

$  87,379

$ 19,628

$ 9,703

$ (5,523)

$    111,187













AMDOCS LIMITED

Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP

(in thousands)





Twelve months ended

September 30, 2012




Reconciliation items



GAAP

Amortization of purchased intangible assets and other

Equity based compensation expense

Gain on sale of
investment

Tax     effect

 

Non-GAAP

Operating expenses:







Cost of license

$     3,523

$                 -

$                 -

$                 -

$             -

$      3,523

Cost of service

2,081,945

-

(22,641)

-

-

2,059,304

Research and development

242,063

-

(4,320)

-

-

237,743

Selling, general and administrative

424,671

-

(16,468)

-

-

408,203

Amortization of purchased intangible 
      assets and other

52,229

(52,229)

-

-

-

-

Total operating expenses

2,804,431

(52,229)

(43,429)

-

-

2,708,773








Operating income

442,472

52,229

43,429

-

-

538,130








Interest and other expense, net

948

-

-

6,270

-

7,218








Income taxes

50,153

-

-

-

20,761

70,914








Net income

$ 391,371

$       52,229

$       43,429

$       (6,270)

$(20,761)

$ 459,998

















Twelve months ended

September 30, 2011




Reconciliation items



GAAP

Amortization of purchased intangible assets and other

Equity based compensation expense

Tax    effect

 

Non-GAAP

Operating expenses:






Cost of license

$      2,627

$                 -

$                 -

$             -

$      2,627

Cost of service

2,066,740

-

(14,641)

-

2,052,099

Research and development

221,886

-

(2,701)

-

219,185

Selling, general and administrative

409,465

-

(19,289)

-

390,176

Amortization of purchased intangible
    assets and other

72,646

(72,646)

-

-

-

Total operating expenses

2,773,364

(72,646)

(36,631)

-

2,664,087







Operating income

404,364

72,646

36,631

-

513,641







Income taxes

49,042

-

-

21,362

70,404







Net income

$  346,665

$       72,646

$       36,631

$(21,362)

$ 434,580













 

AMDOCS LIMITED

Condensed Consolidated Balance Sheets

(in thousands)





As of



September 30, 


September 30,



2012


2011

ASSETS










Current assets





Cash, cash equivalents and short-term interest-bearing investments


$      1,118,177


$      1,173,470

Accounts receivable, net, including unbilled of $130,697 and $72,048,
    respectively


687,223


565,853

Deferred income taxes and taxes receivable


109,282


112,656

Prepaid expenses and other current assets


126,388


127,341

    Total current assets


2,041,070


1,979,320






Equipment and leasehold improvements, net


277,907


258,402

Goodwill and other intangible assets, net


1,883,064


1,933,154

Other noncurrent assets


443,182


465,696

Total assets


$      4,645,223


$      4,636,572






LIABILITIES AND SHAREHOLDERS' EQUITY










Current liabilities





Accounts payable, accruals and other


$      690,823


$      594,603

Short-term financing arrangements


200,000


250,000

Deferred revenue


145,184


151,423

Deferred income taxes and taxes payable


29,551


15,180

    Total current liabilities


1,065,558


1,011,206






Other noncurrent liabilities


546,463


602,065

Shareholders' equity


3,033,202


3,023,301

Total liabilities and shareholders' equity


$      4,645,223


$      4,636,572

 

AMDOCS LIMITED

Consolidated Statements of Cash Flows

(in thousands)






Year ended September 30,



2012


2011






Cash Flow from Operating Activities:





Net income


$             391,371


$             346,665

Reconciliation of net income to net cash provided by operating activities:





    Depreciation and amortization


159,614


181,477

    Equity-based compensation expense


43,429


36,631

    Deferred income taxes


(4,857)


1,252

Excess tax benefit from equity-based compensation


(181)


(178)

Gain on sale of investments


(9,172)


-

    Loss from short-term interest-bearing investments


3,041


1,386

Net changes in operating assets and liabilities, net of amounts acquired:





    Accounts receivable, net


(106,551)


38,062

    Prepaid expenses and other current assets


1,601


(10,741)

    Other noncurrent assets


19,734


(15,807)

    Accounts payable, accrued expenses and accrued personnel


60,200


(46,976)

    Deferred revenue


(55,811)


(34,444)

    Income taxes payable, net


14,305


27,289

    Other noncurrent liabilities


(2,654)


10,876

Net cash provided by operating activities


514,069


535,492






Cash Flow from Investing Activities:





Payments for purchase of equipment and leasehold improvements, net


(122,053)


(109,779)

Proceeds from sale of short-term interest-bearing investments


440,145


591,147

Purchase of short-term interest-bearing investments


(337,989)


(521,999)

Net cash paid for acquisitions


-


(162,964)

Cash received from sale of investments


11,172


-

Other


(8,564)


(18,076)

Net cash used in investing activities


(17,289)


(221,671)






Cash Flow from Financing Activities:





Borrowings under financing arrangements


200,000


250,000

Payments under financing arrangements


(250,000)


(200,000)

Repurchase of shares


(484,608)


(624,241)

Proceeds from employee stock options exercised


86,674


56,474

Payments under capital lease, short-term financing arrangements and other


(1,059)


(878)

Net cash used in financing activities


(448,993)


(518,645)






Net increase (decrease) in cash and cash equivalents


47,787


(204,824)

Cash and cash equivalents at beginning of period


831,371


1,036,195

Cash and cash equivalents at end of period


$             879,158


$             831,371






 

AMDOCS LIMITED

Supplementary Information

(in millions)






Three months ended



September 30,
2012


June 30,
2012


March 31,
2012


December 31,
2011


September 30,
2011

North America


$      570.4


$      558.7


$      563.2


$      573.8


$      585.1

Europe


113.1


106.5


111.8


110.3


102.0

Rest of World


138.6


143.6


133.9


122.9


125.1

Total Revenue


$      822.1


$      808.8


$      808.9


$      807.0


$      812.2

 



Three months ended



September 30,
2012


June 30,
2012


March 31,
2012


December 31,
2011


September 30,
2011

Emerging Markets

 Revenue


$      99.9


$      101.7


$      89.4


$      82.5


$      79.5

 



Three months ended



September 30,
2012


June 30,
2012


March 31,
2012


December 31,
2011


September 30,
2011

Managed Services
 Revenue


$      423.7


$      426.8


$      414.4


$      419.7


$      384.8





Three months ended



September 30,
2012


June 30,
2012


March 31,
2012


December 31,
2011


September 30,
2011

Customer Experience
 Systems


$      783.1


$      766.2


$      758.9


$      758.0


$      764.6

Directory


39.0


42.6


50.0


49.0


47.6

Total Revenue


$      822.1


$      808.8


$      808.9


$      807.0


$      812.2


 



As of



September 30,
2012


June 30,
2012


March 31,
2012


December 31,
2011


September 30,
2011


12-Month Backlog


$      2,790


$      2,760


$      2,725


$      2,690


$      2,670


 

SOURCE Amdocs

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Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
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 ...
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor 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. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...