Click here to close now.




















Welcome!

Microsoft Cloud Authors: Eric Aarrestad, Greg O'Connor, Liz McMillan, Aleksei Gavrilenko, Elizabeth White

News Feed Item

STR Holdings, Inc. Reports Third Quarter 2012 Results

STR Holdings, Inc. (NYSE: STRI) today announced its financial results for the third quarter and nine months ended September 30, 2012.

Third Quarter 2012 Financial Summary:

  • Net sales of $23.1 million
  • Diluted GAAP loss per share from continuing operations of $(0.09); Diluted non-GAAP loss per share from continuing operations of $(0.03)
  • Finished the quarter with $70.6 million in cash and no debt

Financial Results

Net sales for the quarter ended September 30, 2012 were $23.1 million. This represents a decline of 8.1% sequentially and 58.9% from Q3 2011. On a sequential basis, the decline was driven primarily by a volume decline of approximately 7% and unfavorable foreign exchange impact of approximately 1%. On a year-over-year basis, volume declined by approximately 45% and ASP declined by approximately 20%.

“We believe that demand has softened considerably throughout the industry on the heels of negative policy revisions, primarily in Italy and Germany, and our sequential volume reflects this,” said Robert S. Yorgensen, STR’s President and Chief Executive Officer. “We continue to execute our strategic objectives of reducing our cost structure and developing innovative products. The launch of our next-generation encapsulant is progressing well with favorable results obtained from our internal testing and the successful completion of damp heat testing with several prospective Chinese customers.”

Gross profit for the third quarter of 2012 was $0.6 million, or 2.5% of sales, compared to $1.6 million, or 6.3% of sales, from the second quarter of 2012, primarily driven by unfavorable cost absorption.

Selling, general and administrative expenses for the third quarter of 2012 were $5.8 million compared to $6.7 million in the second quarter of 2012. The reduction was driven by lower non-cash stock-based compensation expense and continued cost reduction efforts.

Net loss from continuing operations for the third quarter of 2012 was $(3.6) million, or $(0.09) per diluted share. This compares to a net loss from continuing operations of $(2.4) million, or $(0.06) per diluted share, for the second quarter of 2012 and net earnings from continuing operations of $3.8 million, or $0.09 per diluted share, for the third quarter of 2011.

Non-GAAP net loss from continuing operations for the third quarter of 2012, which excludes certain tax-effected adjustments (as disclosed following the non-GAAP reconciliation table at the end of this press release), was $(1.1) million, or $(0.0 3) per diluted share. This compares to non-GAAP net earnings from continuing operations of $0.0 million, or $0.00 per diluted share, for the second quarter of 2012 and non-GAAP net earnings from continuing operations of $8.8 million, or $0.21 per diluted share, for the third quarter of 2011.

Balance Sheet and Liquidity

During the third quarter of 2012, the Company had negative operating cash flow from continuing operations of $(0.7) million primarily due to unfavorable timing of foreign tax payments of $2.5 million. Free cash flow from continuing operations was $(1.8) million during the third quarter of 2012. The Company finished the third quarter of 2012 with $70.6 million of cash and no debt. In addition, the Company received approximately $8.0 million of cash from income tax refunds in October that will be reflected in its October cash balance.

Guidance

The Company today provided guidance for the fourth quarter and updated its full-year 2012 guidance as follows:

 
STR Holdings, Inc.
Business Outlook
         
Amounts in millions, except per share amounts
 

Quarter ending December 31, 2012

        Low   High
Net sales $ 14.0 $ 16.0
Diluted non-GAAP EPS $ (0.09) $ (0.07)
 
 
Year ending December 31, 2012         Low   High
Net sales $ 93.0 $ 95.0
Diluted non-GAAP EPS $ (0.05) $ (0.03)
 
 

Third Quarter Conference Call and Presentation

The Company will discuss its financial results and guidance in a conference call today at 4:30 p.m. ET. A live webcast of the conference call and presentation will be available through the Investor Relations section of the Company’s website at www.strholdings.com. Investors accessing the live call by phone from the U.S. should dial (866) 510-0707 and enter passcode: 57545208. Those calling from outside the U.S. should dial (617) 597-5376 and use the same passcode. A telephone replay will be available approximately two hours after the call concludes through Wednesday, November 14 , 2012, by dialing (888) 286-8010 from the U.S., or (617) 801-6888 from international locations, and entering passcode: 76494891. The webcast and presentation will be archived on the Company’s website for one year.

About STR Holdings, Inc.

STR Holdings, Inc. is a leading global provider of high-quality, superior performance encapsulants to the photovoltaic module industry. Further information about STR Holdings, Inc. can be obtained via the Company’s website at www.strholdings.com.

Forward-Looking Statements

This press release and any oral statement made in respect of the information in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to inherent risks and uncertainties. These forward-looking statements present the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business and are based on assumptions that the Company has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors management believes are appropriate under the circumstances. However, these forward-looking statements are not guarantees of future performance or financial or operating results. In addition to the risks and uncertainties discussed in this press release, the Company faces risks and uncertainties that include, but are not limited to, the following: (i) technological changes in the solar energy industry or the Company’s failure to develop and introduce or integrate new technologies could render its encapsulants uncompetitive or obsolete, particularly in China; (ii) excess capacity in the solar supply chain; (iii) its ability to increase its market share; (iv) demand for solar energy in general and solar modules in particular; (v) the timing and effects of the implementation of government incentives and policies for renewable energy, primarily in China and the United States; (vi) the effects of the announced reductions to solar incentives in Germany and Italy; (vii) trade complaints and lawsuits diminishing the growth of the solar industry; (viii) the extent to which it may be required to write-off accounts receivable, inventory or intangible assets; (ix) product pricing pressures and other competitive factors; (x) customer concentration in its business and its relationships with key customers; (xi) its ability to protect its intellectual property; (xii) volatility in commodity costs, such as resin or paper used in its encapsulants, and its ability to successfully manage any increases in these commodity costs; (xiii) its dependence on a limited number of third-party suppliers for raw materials for its encapsulants and materials used in its processes; (xiv) operating new manufacturing facilities and increasing production capacity at existing facilities; (xv) its reliance on vendors and potential supply chain disruptions, including those resulting from bankruptcy filings by customers or vendors; (xvi) potential product performance matters and product liability; (xvii) the extent and duration of the current downturn in the global economy; (xviii) the impact negative credit markets may have on the Company or its customers or suppliers; (xix) the impact of changes in foreign currency exchange rates on financial results, and the geographic distribution of revenues and earnings; (xx) maintaining sufficient liquidity in order to fund future profitable growth and long-term vitality; (xxi) outcomes of litigation and regulatory actions; and (xxii) the other risks and uncertainties described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in subsequent periodic reports on Forms 10-K, 10-Q and 8-K. You are urged to carefully review and consider the disclosure found in the Company’s filings which are available on http://www.sec.gov or http://www.strholdings.com. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, actual results may vary materially from those projected in these forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.

 
 
STR Holdings, Inc.
CONDENSED CONSOLIDATED INCOME STATEMENTS
All amounts in thousands except shares and per share amounts
       
Three Months Ended September 30, Nine Months Ended September 30,
  2012     2011     2012     2011  
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
 
Net sales $ 23,092 $ 56,237 $ 79,294 $ 195,892
Cost of sales   22,510     41,665     75,127     128,157  
 
Gross profit 582 14,572 4,167 67,735
 
Selling, general and administrative expenses 5,844 6,838 20,298 21,666
Provision (recovery) for bad debt expense 47 (532 ) 497 509
Goodwill impairment - - 82,524 -
Asset impairment   -     1,861     -     1,861  
Operating (loss) income (5,309 ) 6,405 (99,152 ) 43,699
 
Other (expense) income   (1,070 )   (3,632 )   5,771     (3,911 )
(Loss) earnings from continuing operations before income tax (benefit) expense (6,379 ) 2,773 (93,381 ) 39,788
Income tax (benefit) expense from continuing operations   (2,800 )   (1,044 )   (5,250 )   10,739  
Net (loss) earnings from continuing operations $ (3,579 ) $ 3,817 $ (88,131 ) $ 29,049
 
Discontinued operations:
Earnings from discontinued operations before income tax (benefit) expense - 117,314 - 110,771
Income tax (benefit) expense from discontinued operations   (4,246 )   75,841     (4,246 )   73,980  
Net earnings from discontinued operations $ 4,246 $ 41,473 $ 4,246 $ 36,791
 
Net earnings (loss) $ 667   $ 45,290   $ (83,885 ) $ 65,840  
 
GAAP net earnings (loss) per share:
Basic from continuing operations $ (0.09 ) $ 0.09   $ (2.13 ) $ 0.71  
Basic from discontinued operations   0.11     1.02     0.10     0.90  
Total basic GAAP net earnings (loss) per share $ 0.02   $ 1.11   $ (2.03 ) $ 1.61  
 
Diluted from continuing operations $ (0.09 ) $ 0.09   $ (2.13 ) $ 0.69  
Diluted from discontinued operations   0.11     1.00     0.10     0.88  
Total diluted GAAP net earnings (loss) per share $ 0.02   $ 1.09   $ (2.03 ) $ 1.57  
 
(1) Non-GAAP net (loss) earnings per share:
Basic from continuing operations $ (0.03 ) $ 0.21   $ 0.05   $ 0.87  
Basic from discontinued operations   0.11     1.05     0.10     0.97  
Total basic non-GAAP net earnings per share $ 0.08   $ 1.26   $ 0.15   $ 1.84  
 
Diluted from continuing operations $ (0.03 ) $ 0.21   $ 0.05   $ 0.85  
Diluted from discontinued operations   0.11     1.04     0.10     0.94  
Total diluted non-GAAP net earnings per share $ 0.08   $ 1.25   $ 0.15   $ 1.79  
 
Weighted-average common shares outstanding:
Basic shares outstanding GAAP   41,439,827     40,972,552     41,277,975     40,853,480  
(2) Diluted shares outstanding GAAP   41,439,827     41,503,070     41,277,975     41,985,525  
Stock options - - - -
Restricted common stock   -     -     151     -  
(2) Diluted shares outstanding non-GAAP   41,439,827     41,503,070     41,278,126     41,985,525  
 
(1) Please refer to the reconciliation of non-GAAP measures included in this press release.
(2) Please refer to the reconciliation of diluted shares outstanding for non-GAAP net earnings per share included in this press release.
 
 
STR Holdings, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
All amounts in thousands
               
September 30, 2012 December 31, 2011
(Unaudited) (Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 70,625 $ 58,794
Accounts receivable, net 7,309 14,535
Inventories 13,998 28,809
Other current assets   13,419   8,168
Total current assets 105,351 110,306
 
Property, plant and equipment, net 67,807 63,474
Intangible assets, net 137,589 143,912
Goodwill - 82,524
Other noncurrent assets   1,077   1,875
Total assets $ 311,824 $ 402,091
 
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 4,279 $ 4,647
Accrued liabilities 7,960 9,445
Income taxes payable   2,306   6,735
Total current liabilities 14,545 20,827
 
Deferred tax liabilities 45,116 48,585
Other long-term liabilities   2,121   2,174
Total liabilities $ 61,782 $ 71,586
 
STOCKHOLDERS' EQUITY
Stockholders' equity   250,042   330,505
Total liabilities and stockholders' equity $ 311,824 $ 402,091
 
 
STR Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
All amounts in thousands
               
Three Months Ended September 30, Nine Months Ended September 30,
  2012     2011     2012     2011  
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
OPERATING ACTIVITIES
Net earnings (loss) $ 667 $ 45,290 $ (83,885 ) $ 65,840
Net earnings from discontinued operations   4,246     41,473     4,246     36,791  
Net (loss) earnings from continuing operations (3,579 ) 3,817 (88,131 ) 29,049

Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operating activities:

Depreciation 2,042 2,363 6,157 6,156
Goodwill impairment - - 82,524 -
Asset impairment - 1,861 - 1,861
Amortization of intangibles 2,107 2,108 6,323 6,324
Amortization of deferred financing costs 55 221 218 884
Write-off of deferred debt costs 844 3,586 844 3,586
Stock-based compensation expense 704 1,073 3,682 3,273
Loss on disposal of property, plant and equipment 2 2 2 2
Provision (recovery) for bad debt expense 47 (532 ) 497 509
Deferred income tax (benefit) expense (1,244 ) 217 (3,055 ) (363 )
Changes in operating assets and liabilities (1,961 ) 4,149 19,138 (30,574 )
Other, net   250     (1,631 )   365     356  
Net cash (used in) provided by continuing operations (733 ) 17,234 28,564 21,063
Net cash used in discontinued operations   -     (8,104 )   (5,786 )   (10,056 )
Net cash (used in) provided by operating activities $ (733 ) $ 9,130   $ 22,778   $ 11,007  
 
INVESTING ACTIVITIES
Capital expenditures $ (1,052 ) $ (3,906 ) $ (10,477 ) $ (18,441 )
Proceeds from sale of fixed assets   -     1     -     1  
Net cash used in continuing operations (1,052 ) (3,905 ) (10,477 ) (18,440 )
Net cash provided by discontinued operations   -     268,520     -     266,527  
Net cash (used in) provided by investing activities $ (1,052 ) $ 264,615   $ (10,477 ) $ 248,087  
 
FINANCING ACTIVITIES
Net cash (used in) provided by continuing operations $ (24 ) $ (88 ) $ 1   $ 585  
Net cash used in discontinued operations   -     (237,600 )   -     (238,525 )
Net cash (used in) provided by financing activities $ (24 ) $ (237,688 ) $ 1   $ (237,940 )
 
Effect of exchange rate changes on cash   243     (1,815 )   (471 )   1,835  
 
Net (decrease) increase in cash and cash equivalents (1,566 ) 34,242 11,831 22,989
Cash and cash equivalents, beginning of period   72,191     95,377     58,794     106,630  
Cash and cash equivalents, end of period $ 70,625   $ 129,619   $ 70,625   $ 129,619  
 
* Free cash flow from continuing operations $ (1,785 ) $ 13,328   $ 18,087   $ 2,622  
 
* Please refer to the reconciliation of non-GAAP measures included in this press release.
 
 
STR Holdings, Inc.
RECONCILIATION OF NON-GAAP MEASURES
All amounts in thousands except shares and per share amounts
           
Three Months Ended September 30, Nine Months Ended September 30,
  2012     2011     2012     2011  
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Non-GAAP (Loss) Earnings Per Share
Net (loss) earnings from continuing operations $ (3,579 ) $ 3,817 $ (88,131 ) $ 29,049
Adjustments to net (loss) earnings from continuing operations:
Amortization of intangibles 2,107 2,108 6,323 6,324
Amortization of deferred financing costs 899 3,807 1,062 4,470
Stock-based compensation expense 704 1,073 3,682 3,273
Accelerated depreciation - 356 - 356
Asset impairment - 1,861 - 1,861
Goodwill impairment - - 82,524 -
Interest expense from prior credit facilities - (1,722 ) - (6,699 )
Tax effect of non-GAAP adjustments   (1,254 )   (2,539 )   (3,639 )   (3,043 )
Non-GAAP net (loss) earnings from continuing operations $ (1,123 ) $ 8,761   $ 1,821   $ 35,591  
 
Non-GAAP net (loss) earnings per share:
Basic from continuing operations $ (0.03 ) $ 0.21   $ 0.05   $ 0.87  
Diluted from continuing operations $ (0.03 ) $ 0.21   $ 0.05   $ 0.85  
 
Weighted-average common shares outstanding:
Basic   41,439,827     40,972,552     41,277,975     40,853,480  
(1) Diluted   41,439,827     41,503,070     41,278,126     41,985,525  
 
(1) Please refer to the reconciliation of diluted shares outstanding for non-GAAP net (loss) earnings per share included in this press release.
 
Three Months Ended September 30, Nine Months Ended September 30,
  2012     2011     2012     2011  
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Free Cash Flow from Continuing Operations
Cash flow from operations from continuing operations $ (733 ) $ 17,234 $ 28,564 $ 21,063
Less:
Capital expenditures   (1,052 )   (3,906 )   (10,477 )   (18,441 )
Free cash flow $ (1,785 ) $ 13,328   $ 18,087   $ 2,622  
 
 

Non-GAAP Financial Measures

To supplement the Company’s condensed consolidated financial statements, which statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (GAAP), the Company uses non-GAAP financial measures to facilitate better understanding of its operating results. In this press release, there are two non-GAAP financial metrics mentioned: Non-GAAP earnings per share from continuing operations (EPS) and free cash flow from continuing operations as defined below:

Non-GAAP EPS: The Company believes that non-GAAP EPS from continuing operations provides meaningful supplemental information regarding its performance by excluding certain expenses that may not be indicative of the core business operating results and may help in comparing current period results with those of prior periods as well as with its peers.

Non-GAAP EPS from continuing operations is defined as net (loss) earnings from continuing operations not including the tax effected impact of deferred financing costs, stock-based compensation, intangible asset amortization expense, goodwill impairment, accelerated depreciation, asset impairment plus interest expense from prior credit facilities divided by the weighted-average common shares outstanding. Please refer to the Company’s Form 10-K filed with the Securities and Exchange Commission (SEC) on March 14, 2012, for detailed discussion on these adjustments.

Although the Company uses non-GAAP EPS from continuing operations as a measure to assess the operating performance of its business, non-GAAP EPS from continuing operations has significant limitations as an analytical tool because it excludes certain material costs. Because non-GAAP EPS from continuing operations does not account for these expenses, its utility as a measure of its operating performance has material limitations. Because of these limitations, the Company does not view non-GAAP EPS from continuing operations in isolation and uses other metrics to measure operating performance such as, but not limited to, net sales, gross margin, operating (loss) income, adjusted EBITDA, and net (loss) earnings from continuing operations.

STR Holdings, Inc.
RECONCILIATION OF NON-GAAP SHARES OUTSTANDING
           
Three Months Ended September 30, Nine Months Ended September 30,
2012 2011 2012 2011
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Weighted-average shares outstanding
Basic shares outstanding GAAP 41,439,827 40,972,552 41,277,975 40,853,480
Diluted shares outstanding GAAP 41,439,827 41,503,070 41,277,975 41,985,525
Stock options - - - -
Restricted common stock - - 151 -
Diluted shares outstanding non-GAAP 41,439,827 41,503,070 41,278,126 41,985,525
 

Diluted GAAP Shares Outstanding: Due to a loss from continuing operations during the nine months ended September 30, 2012, the diluted weighted-average common shares outstanding for purposes of our diluted GAAP loss per share does not include 151 shares of unvested restricted common stock respectively, as these potential awards do not share in any loss generated by the Company and are anti-dilutive.

Free Cash Flow from Continuing Operations: The Company believes free cash flow from continuing operations is an important measure of its overall liquidity and its ability to fund future growth and provide a return to shareowners. Free cash flow is defined as operating cash flow from continuing operations excluding cash spent on capital expenditures. A limitation of using free cash flow versus the GAAP measure of cash provided by operating activities as a means for evaluating the Company’s business is that free cash flow does not represent the total increase or decrease in the cash balance from operations for the period because it excludes cash used for capital expenditures during the period.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.