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Matson, Inc. Announces Third Quarter 2012 EPS Of $0.45

- Ocean transportation revenues up 9.1% year over year

HONOLULU, Nov. 7, 2012 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $19.1 million, or $0.45 per diluted share for the third quarter ended September 30, 2012[1]. Net income for the third quarter ended September 30, 2011 was $8.7 million, or $0.21 per diluted share. Consolidated revenue for the third quarter 2012 was $401.4 million compared with $380.6 million reported for the third quarter 2011.

(Logo: http://photos.prnewswire.com/prnh/20120605/SF19690LOGO)

Operating income was $34.2 million for the third quarter 2012, compared to $30.9 million for third quarter 2011. However, operating income was negatively impacted in the third quarter 2012 by expense of $0.3 million associated with the Company's separation from A&B; and in the third quarter 2011 by expense of $6.1 million associated with the shutdown of the Company's CLX2 service. Net of these expenses, operating income decreased $2.5 million in the third quarter 2012 from the prior year period.

Matt Cox, Matson's President and Chief Executive Officer commented, "Matson reported another steady quarter, with results mixed by trade lane. We saw continued rate and volume strength in our expedited service from China, continued strong Guam volume and modest volume improvement in our Hawaii trade. These gains, while encouraging, were largely offset by increased expenses primarily associated with vessel and barge dry-docking during the quarter."  

Cox continued, "The hallmarks of the Matson brand – superior customer service, financial stability and solid delivery reliability – have been earned over a century. Our balance sheet strength and strong cash flow generation support a strong dividend while providing ample capacity for future investments in our people, our businesses and new markets."

For the first nine months of 2012, Matson reported net income of $30.3 million, or $0.71 per diluted share.  Net income for the first nine months of 2011 was $32.6 million, or $0.77 per diluted share.  Consolidated revenue for the first nine months of 2012 was $1,161.7 million compared with $1,087.7 million reported for the first nine months of 2011.

Operating income for the first nine months of 2012 was $72.8 million compared with $66.8 million in the first nine months of 2011. However, operating income was negatively impacted in the first nine months of 2012 by expenses of $8.6 million associated with the Company's separation from A&B and $0.5 million related to the shutdown of the Company's CLX2 service. In the first nine months of 2011, operating income was negatively impacted by $6.1 million of expenses associated with the shutdown of the Company's CLX2 service. Net of these expenses, operating income increased $9.0 million in the first nine months of 2012 from the prior year period.

By Segment

Ocean Transportation – Three months ended September 30, 2012 compared with 2011

 



Three Months Ended September 30

(Dollars in millions)


2012



2011


Change

Revenue


$

307.1



$

281.4


9.1%


Operating income1


$

32.9



$

28.9


13.8%


Operating income margin



10.7%




10.3%




Volume (units)2











Hawaii containers



35,700




35,400


0.8%


Hawaii automobiles



22,200




19,700


12.7%


China containers



17,100




15,400


11.0%


Guam containers



6,500




3,400


91.2%


    

1.

The Company incurred additional costs related to the shutdown of CLX2  that did not meet the criteria to be classified as discontinued operations of approximately $6.1 million for the three months ended September 30, 2011 and therefore reduced operating income by that amount.   Costs related to the shutdown of CLX2 included in Income from Continuing Operations during the three months ended September 30, 2012 were immaterial.

2.

Approximate container volumes included for the period are based on the voyage departure date, but revenue and operating income are adjusted to reflect the percentage of revenue and operating income earned during the reporting period for voyages that straddle the beginning or end of each reporting period.

Ocean transportation revenue increased $25.7 million, or 9.1 percent, during the three months ended September 30, 2012 compared with the three months ended September 30, 2011. The increase was due principally to net volume growth, driven primarily by the exit of a major competitor from the Guam trade in mid-November 2011, increases in China trade freight rates and volume, partially offset by lower fuel surcharges resulting from lower fuel prices.

Container volume increased in all of the Company's trades in the three months ended September 30, 2012 compared with the three months ended September 30, 2011: Hawaii container volume increased 0.8 percent due principally to a modest increase in demand; Hawaii automobile volume increased 12.7 percent due primarily to the timing of automobile rental fleet replacement; China container volume increased 11.0 percent due primarily to an additional sailing; Guam volume increased by 91.2 percent due to gains related to the departure of a major competitor from the trade in mid-November 2011.

Ocean transportation operating income increased $4.0 million, or 13.8 percent, during the three months ended September 30, 2012 compared with the three months ended September 30, 2011. However, net of expense related to separation and shutdown of CLX2, operating income decreased by $1.8 million, or 5.1 percent. The decrease in operating income was principally due to increased costs related to vessel and barge dry-docking, higher outside transportation costs due to increased activity in the Guam trade, higher vessel expenses and higher general and administrative expenses. These increases were partially offset by higher volume in the Guam trade and increased freight rates and volume in the China trade. 

The Company's SSAT joint venture contributed $0.7 million to operating income during the third quarter ended September 30, 2012 compared with $2.8 million reported for the same period last year. The decline is primarily due to the loss of volume from several major customers.

Ocean Transportation – Nine months ended September 30, 2012 compared with 2011

 



Nine Months Ended September 30

(Dollars in millions)


2012



2011


Change


Revenue


$

886.1



$

794.1


11.6%


Operating income1


$

69.9



$

61.2


14.2%


Operating income margin



7.9%




7.7%




Volume (units)2











Hawaii containers



102,100




105,000


(2.8%)


Hawaii automobiles



60,000




61,300


(2.1%)


China containers



46,000




43,200


6.5%


Guam containers



19,000




10,100


88.1%


    

1.

The Company incurred additional costs related to the shutdown of CLX2 that did not meet the criteria to be classified as discontinued operations of approximately $0.5 million and $6.1 million and therefore reduced operating income for the nine months ended September 30, 2012 and 2011, respectively. 

2.

Approximate container volumes included for the period are based on the voyage departure date, but revenue and operating income are adjusted to reflect the percentage of revenue and operating income earned during the reporting period for voyages that straddle the beginning or end of each reporting period.

Ocean transportation revenue increased $92.0 million, or 11.6 percent, in the nine months ended September 30, 2012 compared with the nine months ended September 30, 2011.  The increase was due principally to net volume growth, driven primarily by the exit of a major competitor from the Guam trade in mid-November 2011, an increase in freight rates and volume in the China trade, and increased fuel surcharges resulting from higher fuel prices, partially offset by reduced volumes in the Hawaii trade.

Container and automobile volume decreased in the Hawaii trade in the nine months ended September 30, 2012 compared with the nine months ended September 30, 2011: Hawaii container volume decreased 2.8 percent due to market weakness, competitive pressures, and a modest market contraction resulting from direct foreign sourcing of cargo; Hawaii automobile volume decreased 2.1 percent due primarily to the timing of automobile rental fleet replacement. Container volume in the China and Guam trades increased during the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011: China container volume increased 6.5 percent due to increased demand and a shift in direct foreign sourcing of cargo destined to Hawaii; Guam volume was higher, increasing 88.1 percent in the nine months, due to gains related to the departure of a major competitor from the trade in mid-November 2011.

Ocean transportation operating income increased $8.7 million, or 14.2 percent, in the nine months ended September 30, 2012 compared with the nine months ended September 30, 2011. However, net of expenses related to separation and shutdown of CLX2, operating income increased by $11.7 million, or 17.4 percent.  The increase in operating income was principally due to higher volume in the Guam trade and increased freight rates and volume in the China trade, partially offset by decreased volume in Hawaii, increased costs related to vessel and barge dry-docking and higher outside transportation costs due to increased activity in the Guam trade. The Company also incurred higher terminal handling costs due primarily to increased wharfage and container handling rates, higher vessel expenses and higher general and administrative expenses. 

The Company's SSAT joint venture contributed $3.1 million to operating income during the nine months ended September 30, 2012 compared with $6.8 million reported for the same period last year. The decline is primarily due to the loss of volume from several major customers.

Logistics – Three months ended September 30, 2012 compared with 2011

 



Three Months Ended September 30

(Dollars in millions)


2012



2011


Change


Intermodal revenue


$

58.7



$

60.9


(3.6%)


Highway revenue



35.6




38.3


(7.0%)


Total Revenue


$

94.3



$

99.2


(4.9%)


Operating income


$

1.3



$

2.0


(35.0%)


Operating income margin



1.4%




2.0%
















Logistics revenue decreased $4.9 million, or 4.9 percent, during the three months ended September 30, 2012 compared with the three months ended September 30, 2011. This decrease was primarily the result of lower intermodal and highway volume. Intermodal volume declined primarily due to the shutdown of CLX2 and the loss of a major international ocean carrier customer, partially offset by an increase in domestic volumes.  Highway volume decreased due to the loss of certain full truckload customers.

Logistics operating income decreased $0.7 million, or 35.0 percent, to $1.3 million during the three months ended September 30, 2012 compared with the three months ended September 30, 2011.  The decline in the operating income was primarily due to lower volume in intermodal and highway, lower yield in intermodal, partially offset by decreases in general and administrative expenses.

Logistics – Nine months ended September 30, 2012 compared with 2011

 



Nine Months Ended September 30

(Dollars in millions)


2012



2011


Change


Intermodal revenue


$

170.5



$

178.3


(4.4%)


Highway revenue



105.1




115.3


(8.8%)


Total Revenue


$

275.6



$

293.6


(6.1%)


Operating income


$

2.9



$

5.6


(48.2%)


Operating income margin



1.1%




1.9%
















Logistics revenue for the nine months ended September 30, 2012, decreased $18.0 million, or 6.1 percent, compared with the nine months ended September 30, 2011.  This decrease was primarily due to lower intermodal and highway volumes. Intermodal volume declined primarily due to the shutdown of CLX2 and the loss of a major ocean carrier customer, partially offset by an increase in domestic volumes. Highway volume decreased due to the loss of certain full truckload customers.

Logistics operating income for the nine months ended September 30, 2012 decreased $2.7 million, or 48.2 percent, compared with the nine months ended September 30, 2011.  The reduction in operating income was due to lower volumes in the intermodal and highway businesses, partially offset by a decrease in general and administrative expenses.

Cash Generation & Capital Allocation

Matson continued to generate strong cash flow during the third quarter 2012 and for the nine months ended September 30, 2012. EBITDA was $52.5 million in the third quarter 2012 compared to $48.9 million in the third quarter 2011, an increase of $3.6 million, or 7.4 percent. For the first nine months of 2012 EBITDA was $128.5 million compared to $119.8 million through nine months of 2011, an increase of $8.7 million, or 7.3 percent. 

Capital expenditures for the nine months ended September 30, 2012 totaled $30.8 million compared with $39.5 million for the nine months ended September 30, 2011.

As previously announced, Matson's Board of Directors declared a cash dividend of $0.15 per share payable on December 6, 2012 to shareholders of record on November 8, 2012. 

Debt Levels

Total debt as of September 30, 2012 was $328.6 million, of which $307.2 million was long term debt. During the third quarter 2012 the Company paid down its total debt by $44.2 million.

Teleconference and Webcast

Matson, Inc. has scheduled a conference call at 4:30 p.m. EST/1:30 p.m. PST/11:30 a.m. HST today to discuss its third quarter performance. The call will be broadcast live on the Company's website at www.matson.com; Investor Relations.  A replay of the conference call will be available approximately two hours after the call through 5:30 p.m. EST on Wednesday, November 14, 2012 by dialing 1-877-344-7529 or 1-412-317-0088 and using the conference number 10020465. The slides and audio webcast of the conference call will be archived for one full quarter on the Company's Investor Relations page of the Company's website.

About the Company

Founded in 1882, Matson is a leading U.S. carrier in the Pacific. Matson provides a vital lifeline to the island economies of Hawaii, Guam and Micronesia and premium, expedited service from China to Southern California. The Company's fleet of 17 vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage and warehousing. Additional information about Matson, Inc. is available at the Company's website.

GAAP to Non-GAAP Reconciliation

This press release, the Form 8-K and information to be discussed in the conference call include non-GAAP measures. While Matson reports financial results in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also considers other non-GAAP measures to evaluate performance, make day-to-day operating decisions, help investors understand our ability to incur and service debt and to make capital expenditures, and to understand period-over-period operating results separate and apart from items that may, or could, have a disproportional positive or negative impact on results in any particular period. These non-GAAP measures include, but are not limited to, Operating Income from Continuing Operations net of non-recurring expenses or revenues (Adjusted Operating Income) at the consolidated and segment level, EBITDA, and Adjusted EBITDA.

Forward-Looking Statements

Statements in this news release that are not historical facts are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement, including but not limited to risks and uncertainties relating to regional, national and international economic conditions; new or increased competition; fuel prices and our ability to collect fuel surcharges; our relationship with vendors, customers and partners and changes in related agreements; the timing of the entry of a competitor in the Guam trade lane; conditions in the financial markets; changes in our credit profile and our future financial performance; the impact of future and pending legislation, including environmental legislation; government regulations and investigations; repeal, substantial amendment or waiver of the Jones Act or its application, or our failure to maintain our status as a United States citizen under the Jones Act; relations with our unions; and the occurrence of marine accidents, poor weather or natural disasters. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with our former parent company's (Alexander & Baldwin, Inc.) Annual Report on Form 10-K and our former parent company's and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.

[1] The financial results for the third quarter and first nine months of 2012 reflect Matson's separation from its former parent corporation, Alexander & Baldwin, Inc. ("A&B"), on June 29, 2012. The separation of Matson from A&B was originally announced on December 1, 2011. Due to the structure of the separation transaction, A&B's non-Matson operations have been included in Matson's financial statements as discontinued operations.

Investor Relations inquiries:

Joel M. Wine

Matson, Inc.

510.628.4565

[email protected]

Media inquiries:

Jeff S. Hull

Matson, Inc.

510.628.4534

[email protected]


 

MATSON, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income and Comprehensive Income

(In millions, except per-share amounts) (Unaudited)

 


Three Months Ended

September 30,


Nine Months Ended

September 30,


2012


2011


2012


2011

Operating Revenue:












Ocean transportation

$

307.1


$

281.4


$

886.1


$

794.1

Logistics


94.3



99.2



275.6



293.6

Total operating revenue


401.4



380.6



1,161.7



1,087.7













Costs and Expenses:












Operating costs


337.0



324.7



996.0



943.9

Equity in income of terminal joint venture


(0.7)



(2.8)



(3.1)



(6.8)

Selling, general and administrative


30.6



27.8



87.4



83.8

Separation costs


0.3



-



8.6



-

Operating costs and expenses


367.2



349.7



1,088.9



1,020.9













Operating Income


34.2



30.9



72.8



66.8













Interest expense


(4.0)



(1.9)



(7.9)



(5.7)

Income from Continuing Operations

Before Income Taxes


30.2



29.0



64.9



61.1

Income tax expense 


11.2



10.6



28.6



22.0

Income From Continuing Operations


19.0



18.4



36.3



39.1

Income (Loss) From Discontinued Operations (net of income taxes)


0.1



(9.7)



(6.0)



(6.5)

Net Income

$

19.1


$

8.7


$

30.3


$

32.6













Other Comprehensive Income, Net of Tax:












Net Income

$

19.1


$

8.7


$

30.3


$

32.6

Defined benefit pension plans:












    Net loss and prior service cost


-



-



1.1



1.2

    Less: amortization of prior service cost

    included in net periodic pension cost


0.7



(0.3)



1.0



(0.3)

    Less: amortization of net loss included

    in net periodic pension cost


(2.7)



(2.5)



(3.5)



(2.8)

    Other Comprehensive Income


(2.0)



(2.8)



(1.4)



(1.9)

Comprehensive Income

$

17.1


$

5.9


$

28.9


$

30.7













Basic Earnings (Loss) Per Share:












Continuing operations

$

0.45


$

0.44


$

0.86


$

0.94

Discontinued operations


-



(0.23)



(0.14)



(0.16)

Net income

$

0.45


$

0.21


$

0.72


$

0.78













Diluted Earnings (Loss) Per Share:












Continuing operations

$

0.45


$

0.44


$

0.85


$

0.94

Discontinued operations


-



(0.23)



(0.14)



(0.17)

Net income

$

0.45


$

0.21


$

0.71


$

0.77













Weighted Average Number of Shares Outstanding:












Basic


42.5



41.7



42.2



41.6

Diluted


42.8



42.1



42.6



42.0













Cash Dividends Per Share

$

0.15


$

0.315


$

0.78


$

0.945













    

 

MATSON, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In millions) (Unaudited)

 


September 30,


December 31,


2012


2011

ASSETS






Current Assets:






Cash and cash equivalents

$

11.5


$

9.8

Accounts and notes receivable, net


166.4



167.7

Inventories


4.3



4.2

Deferred income taxes


1.3



1.3

Prepaid expenses and other assets


26.8



25.1

Current assets related to discontinued operations


0.2



66.9

Total current assets


210.5



275.0

Investments in Affiliate


59.5



56.5

Property, at cost


1,779.8



1,760.7

Less accumulated depreciation and amortization


(1,003.3)



(960.2)

Property – net


776.5



800.5

Other Assets


112.0



95.2

Long-term assets related to discontinued operations


-



1,317.1

Total

$

1,158.5


$

2,544.3

LIABILITIES AND SHAREHOLDERS' EQUITY






Current Liabilities:






Notes payable and current portion of long-term debt

$

21.4


$

17.5

Accounts payable


127.0



135.5

Payroll and vacation benefits


15.9



16.0

Uninsured claims


7.3



6.5

Due to affiliate


-



2.2

Accrued and other liabilities


22.2



8.8

Current liabilities related to discontinued operations


0.1



92.2

Total current liabilities


193.9



278.7

Long-term Liabilities:






Long-term debt


307.2



180.1

Deferred income taxes


248.8



255.1

Employee benefit plans


103.3



113.0

Due to affiliate


-



0.5

Uninsured claims and other liabilities


33.4



24.3

Long-term liabilities related to discontinued operations


-



570.1

Total long-term liabilities


692.7



1,143.1







Shareholders' Equity:






Capital stock


31.9



34.0

Additional capital


251.5



238.3

Accumulated other comprehensive loss


(42.9)



(91.9)

Retained earnings


31.4



953.0

Cost of treasury stock


-



(10.9)

Total shareholders' equity


271.9



1,122.5

Total

$

1,158.5


$

2,544.3

 

 

MATSON, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(In millions) (Unaudited)

 


Nine Months Ended


September 30,


2012


2011







Cash Flows Provided by Operating Activities from Continuing Operations

$

66.5


$

71.3







Cash Flows from Investing Activities from Continuing Operations:






Capital expenditures


(30.8)



(39.5)

Proceeds from disposal of property and other assets


0.9



1.7

Deposits into Capital Construction Fund


(4.4)



(4.4)

Withdrawals from Capital Construction Fund


4.4



4.4

Contribution from A&B


26.7



28.9

Net cash used in investing activities from continuing operations


(3.2)



(8.9)







Cash Flows from Financing Activities from Continuing Operations:






Proceeds from issuance of debt, net of issuance costs


185.1



48.5

Payments of debt


(49.9)



(40.9)

Payments on line-of-credit agreements, net


(6.0)



(10.7)

Distribution upon Separation


(155.0)



-

Proceeds from issuance of capital stock


24.8



9.0

Distribution to A&B for proceeds from issuance of capital stock


(21.7)



-

Cash assumed by A&B upon Separation


(2.5)



-

Dividends paid


(33.1)



(39.9)

Net cash used in financing activities from continuing operations


(58.3)



(34.0)







Cash Flows from Discontinued Operations:






Cash flows used in operating activities of discontinued operations


(30.1)



(29.1)

Cash flows used in investing activities of discontinued operations


(18.8)



(17.8)

Cash flows from financing activities of discontinued operations


33.9



21.0

Net cash flows used in discontinued operations


(15.0)



(25.9)







Net (Decrease) Increase in Cash and Cash Equivalents


(10.0)



2.5







Cash and cash equivalents, beginning of period


21.5



14.2

Cash and cash equivalents, end of period

$

11.5


$

16.7







Other Cash Flow Information:






Interest paid

$

6.5


$

6.1

Income taxes paid

$

28.2


$

0.2







Other Non-cash Information:






Depreciation and amortization expense

$

56.0


$

53.1

Accrued dividends

$

-


$

-

Capital expenditures included in accounts payable and accrued liabilities

$

0.1


$

0.2

 

MATSON, INC. AND SUBSIDIARIES

GAAP to Non-GAAP Reconciliation

(In millions) (Unaudited)

 

Adjusted Consolidated Operating Income Reconciliation

 



Three Months Ended September 30,



2012


2011



Change

Operating Income


$

34.2


$

30.9


$

3.3

Add: Separation Cost



0.3



-



0.3

Add: Shutdown of CLX2 Cost



-



6.1



(6.1)

Adjusted Operating Income


$

34.5


$

37.0


$

(2.5)













Nine Months Ended September 30,



2012


2011



Change

Operating Income


$

72.8


$

66.8


$

6.0

Add: Separation Cost



8.6



-



8.6

Add: Shutdown of CLX2 Cost



0.5



6.1



(5.6)

Adjusted Operating Income


$

81.9


$

72.9


$

9.0


Adjusted Ocean Transportation Operating Income Reconciliation

 



Three Months Ended September 30,



2012


2011



Change

Operating Income


$

32.9


$

28.9


$

4.0

Add: Separation Cost



0.3



-



0.3

Add: Shutdown of CLX2 Cost



-



6.1



(6.1)

Adjusted Operating Income


$

33.2


$

35.0


$

(1.8)













Nine Months Ended September 30,



2012


2011



Change

Operating Income


$

69.9


$

61.2


$

8.7

Add: Separation Cost



8.6



-



8.6

Add: Shutdown of CLX2 Cost



0.5



6.1



(5.6)

Adjusted Operating Income


$

79.0


$

67.3


$

11.7

 

EBITDA Reconciliation

 



Three Months Ended September 30,



2012


2011



Change

Net Income


$

19.1


$

8.7


$

10.4

Subtract: Income (Loss) from Disc. Operations



0.1



(9.7)



9.8

Add: Income Tax Expense



11.2



10.6



0.6

Add: Interest expense



4.0



1.9



2.1

Add: Depreciation and Amortization



18.3



18.0



0.3

EBITDA(1)


$

52.5


$

48.9


$

3.6













Nine Months Ended September 30,



2012


2011



Change

Net Income


$

30.3


$

32.6


$

(2.3)

Subtract: Income (Loss) from Disc. Operations



(6.0)



(6.5)



0.5

Add: Income Tax Expense



28.6



22.0



6.6

Add: Interest expense



7.9



5.7



2.2

Add: Depreciation and Amortization



55.7



53.0



2.7

EBITDA(1)


$

128.5


$

119.8


$

8.7

    

(1)   EBITDA is defined as the sum of net income, less income or loss from discontinued operations, plus income tax expense, interest expense and depreciation and amortization.  EBITDA should not be considered as an alternative to net income (as determined in accordance with GAAP), as an indicator of our operating performance, or to cash flows from operating activities (as determined in accordance with GAAP) as a measure of liquidity. Our calculation of EBITDA may not be comparable to EBITDA as calculated by other companies, nor is this calculation identical to the EBITDA used by our lenders to determine financial covenant compliance.

SOURCE Matson, Inc.

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The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
Predicted by Gartner to add $1.9 trillion to the global economy by 2020, the Internet of Everything (IoE) is based on the idea that devices, systems and services will connect in simple, transparent ways, enabling seamless interactions among devices across brands and sectors. As this vision unfolds, it is clear that no single company can accomplish the level of interoperability required to support the horizontal aspects of the IoE. The AllSeen Alliance, announced in December 2013, was formed with the goal to advance IoE adoption and innovation in the connected home, healthcare, education, aut...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Be Among the First 100 to Attend & Receive a Smart Beacon. The Physical Web is an open web project within the Chrome team at Google. Scott Jenson leads a team that is working to leverage the scalability and openness of the web to talk to smart devices. The Physical Web uses bluetooth low energy beacons to broadcast an URL wirelessly using an open protocol. Nearby devices can find all URLs in the room, rank them and let the user pick one from a list. Each device is, in effect, a gateway to a web page. This unlocks entirely new use cases so devices can offer tiny bits of information or simple i...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
TechCrunch reported that "Berlin-based relayr, maker of the WunderBar, an Internet of Things (IoT) hardware dev kit which resembles a chunky chocolate bar, has closed a $2.3 million seed round, from unnamed U.S. and Switzerland-based investors. The startup had previously raised a €250,000 friend and family round, and had been on track to close a €500,000 seed earlier this year — but received a higher funding offer from a different set of investors, which is the $2.3M round it’s reporting."
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital busines...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things needs an entirely new security model, or does it? Can we save some old and tested controls for the latest emerging and different technology environments? In his session at Internet of @ThingsExpo, Davi Ottenheimer, EMC Senior Director of Trust, will review hands-on lessons with IoT devices and reveal privacy options and a new risk balance you might not expect.
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Swiss innovators dizmo Inc. launches its ground-breaking software, which turns any digital surface into an immersive platform. The dizmo platform seamlessly connects digital and physical objects in the home and at the workplace. Dizmo breaks down traditional boundaries between device, operating systems, apps and software, transforming the way users work, play and live. It supports orchestration and collaboration in an unparalleled way enabling any data to instantaneously be accessed on any surface, anywhere and made interactive. Dizmo brings fantasies as seen in Sci-fi movies such as Iro...
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other mach...
This Internet of Nouns trend is still in the early stages and many of our already connected gadgets do provide human benefits over the typical infotainment. Internet of Things or IoT. You know, where everyday objects have software, chips, and sensors to capture data and report back. Household items like refrigerators, toilets and thermostats along with clothing, cars and soon, the entire home will be connected. Many of these devices provide actionable data - or just fun entertainment - so people can make decisions about whatever is being monitored. It can also help save lives.