Welcome!

.NET Authors: Pat Romanski, Srinivasan Sundara Rajan, ChandraShekar Dattatreya, Jayaram Krishnaswamy, Jim Kaskade

News Feed Item

Adjusted Earnings up 10% on Solid Operating Results in Third Quarter 2012

Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission-critical applications, today reported third quarter 2012 results for the period ended September 30, 2012.

Third Quarter Highlights

  • Achieved record adjusted gross profit margins of 33.1%, increasing 370 basis points from 29.4% in the year-ago period;
  • Improved adjusted operating profit margins to 12.1%, increasing 150 basis points from 10.6% in the year-ago period;
  • Generated $54 million of free cash flow, increasing cash and cash equivalents to $386 million;
  • Purchased 655,017 shares of Belden common stock for $25.0 million during the quarter, bringing the total program-to-date shares retired to 3.71 million under the previously announced share repurchase program; and
  • Updated guidance for full year 2012 adjusted revenue of $1.94 – $1.95 billion and increased the low end of the range of adjusted income from continuing operations per diluted share to $3.00 – $3.05.

Third Quarter Results
Revenue for the quarter totaled $490.4 million, up 1% compared to $484.0 million in the second quarter 2012. A loss from continuing operations of $1.14 per diluted share included recent debt refinancing costs of $0.76 per share, impairment charges of $0.57 per share primarily resulting from the pending consumer electronics asset sale, restructuring charges of $0.27 per share, purchase accounting effects related to acquisitions of $0.19 per share, and amortization of intangibles of $0.12 per share.

Adjusted revenue for the quarter totaled $493.2 million, up 2% compared to $484.0 million in the second quarter 2012. Adjusted income from continuing operations per diluted share for the quarter totaled $0.77, compared to $0.70 per diluted share in the third quarter 2011.

John Stroup, President and CEO of Belden Inc., commented, "I am proud of our third quarter results, including record adjusted gross profit margins and strong free cash flow generation. Our ability to perform well in this weakened macro-economic climate is the result of our stronger portfolio and unique business system that is proving effective in a variety of business environments. Additionally, we believe the strategic actions discussed on our second quarter earnings call put us in a better position to execute well for the remainder of the year.”

Outlook
For the full year 2012, the Company expects adjusted revenues to be $1.94 – $1.95 billion and adjusted income from continuing operations per diluted share to be $3.00 – $3.05.

“Clearly, the weak demand environment presents challenges and the uncertainty affects our visibility. We believe this climate is likely to continue, therefore we’ll focus on driving improvements to the business through the implementation of our strategic plan. Despite these pressures, we remain committed to our full year EPS guidance. We expect our fourth quarter 2012 adjusted revenues to be $500 – $510 million and adjusted income from continuing operations per diluted share to be $0.72 – $0.77,” said Mr. Stroup.

Use of Non-GAAP Financial Information
Adjusted results are non-GAAP measures that reflect certain adjustments the Company makes to provide insight into operating results. All GAAP to non-GAAP reconciliations accompany the consolidated financial statements included in this release and have been published to the investor relations section of the Company’s website at http://investor.belden.com.

Adjusted results exclude certain items, including asset impairments, purchase accounting effects related to acquisitions, revenue and cost of sales deferrals, severance and other restructuring costs, gains (losses) recognized on the disposal of tangible assets, amortization of intangible assets, gains (losses) on debt extinguishment, and other costs.

Earnings Conference Call
Management will host a conference call today at 10:30 a.m. Eastern to discuss results of the quarter. The listen-only audio of the conference call will be broadcast live via the Internet at http://investor.belden.com. The dial-in number for participants in the U.S. is 888-599-8685; the dial-in number for participants outside the U.S. is 913-312-0403. A replay of this conference call will remain accessible in the investor relations section of the Company's website for a limited time.

Forward Looking Statements
Statements in this release other than historical facts are "forward looking statements" made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. Forward looking statements include any statements regarding future revenues, costs and expenses, operating income, earnings per share, margins, cash flows, dividends, and capital expenditures. These forward looking statements are based on forecasts and projections about the markets and industries served by the Company and about general economic conditions. They reflect management's beliefs and expectations. They are not guarantees of future performance and they involve risk and uncertainty. The Company's actual results may differ materially from these expectations. Changes in the global economy may impact the Company's results. Turbulence in financial markets may increase the Company's borrowing costs. Additional factors that may cause actual results to differ from the Company's expectations include: the Company's reliance on key distributors in marketing products; the Company's ability to execute and realize the expected benefits from strategic initiatives (including revenue growth, cost control, and productivity improvement programs); changes in the level of economic activity in the Company's major geographic markets; difficulties in realigning manufacturing capacity and capabilities among the Company's global manufacturing facilities; the competitiveness of the global cable, connectivity and networking industries; variability in the Company's quarterly and annual effective tax rates; changes in accounting rules and interpretation of these rules which may affect the Company's reported earnings; changes in currency exchange rates and political and economic uncertainties in the countries where the Company conducts business; demand for the Company's products; the cost and availability of materials including copper, plastic compounds derived from fossil fuels, electronic components, and other materials; energy costs; the Company's ability to achieve acquisition performance expectations and to integrate acquired businesses successfully; the ability of the Company to develop and introduce new products; the Company having to recognize charges that would reduce income as a result of impairing goodwill and other intangible assets; security risks and the potential for business interruption from operating in volatile countries; disruptions or failures of the Company's (or the Company's suppliers or customers) systems or operations in the event of a major earthquake, weather event, cyber-attack, terrorist attack, or other catastrophic event that could cause delays in completing sales, providing services, or performing other mission-critical functions; and other factors. For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the year ended December 31, 2011, filed with the SEC on February 29, 2012. Belden disclaims any duty to update any forward looking statements as a result of new information, future developments, or otherwise.

About Belden
St. Louis-based Belden Inc. designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. It has approximately 7,400 employees, and provides value for industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, South America, Europe, and Asia, and a market presence in nearly every region of the world. Belden was founded in 1902, and today is a leader with some of the strongest brands in the signal transmission industry. For more information, visit www.belden.com.

 
 
BELDEN INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited)
               
Three Months Ended Nine Months Ended
September 30, 2012 October 2, 2011 September 30, 2012 October 2, 2011
(In thousands, except per share data)
 
Revenues $ 490,367 $ 519,713 $ 1,438,700 $ 1,517,592
Cost of sales   (343,593 )   (366,962 )   (998,287 )   (1,077,772 )
Gross profit 146,774 152,751 440,413 439,820
Selling, general and administrative expenses (100,120 ) (85,355 ) (261,277 ) (244,671 )
Research and development (19,020 ) (13,641 ) (48,082 ) (41,800 )
Amortization of intangibles (7,798 ) (3,371 ) (13,603 ) (10,397 )
Income from equity method investment 2,553 1,479 7,254 9,196
Asset impairment   (29,998 )   -     (29,998 )   -  
Operating income (loss) (7,609 ) 51,863 94,707 152,148
Interest expense (13,892 ) (11,690 ) (38,315 ) (36,246 )
Interest income 171 211 733 526
Loss on debt extinguishment   (50,585 )   -     (50,585 )   -  
Income (loss) from continuing operations before taxes (71,915 ) 40,384 6,540 116,428
Income tax benefit (expense)   20,781     (9,019 )   8,991     (28,164 )
Income (loss) from continuing operations (51,134 ) 31,365 15,531 88,264
Gain from disposal of discontinued operations, net of tax 9,783 - 9,783 -
Income (loss) from discontinued operations, net of tax   2,574     (162 )   2,574     (446 )
Net income (loss) $ (38,777 ) $ 31,203   $ 27,888   $ 87,818  
 
Weighted average number of common
shares and equivalents:
Basic 44,787 47,344 45,410 47,317
Diluted 44,787 48,244 46,249 48,329
 
Basic income (loss) per share:
Continuing operations $ (1.14 ) $ 0.66 $ 0.34 $ 1.87
Disposal of discontinued operations 0.22 - 0.22 -
Discontinued operations   0.05     -     0.05     (0.01 )
Net income $ (0.87 ) $ 0.66   $ 0.61   $ 1.86  
 
Diluted income (loss) per share:
Continuing operations $ (1.14 ) $ 0.65 $ 0.34 $ 1.83
Disposal of discontinued operations 0.22 - 0.21 -
Discontinued operations   0.05     -     0.05     (0.01 )
Net income $ (0.87 ) $ 0.65   $ 0.60   $ 1.82  
 
Comprehensive income (loss) $ (24,687 ) $ 4,134   $ 24,366   $ 91,108  
 
Dividends declared per share $ 0.05 $ 0.05 $ 0.15 $ 0.15
 
 
BELDEN INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
       
September 30, 2012 December 31, 2011
(Unaudited)
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents $ 385,639 $ 382,716
Receivables, net 299,936 299,070
Inventories, net 208,478 202,143
Deferred income taxes 15,648 19,660
Income tax receivable 21,471 -
Other current assets 18,977 21,832
Current assets held for sale   52,829     -  
 
Total current assets 1,002,978 925,421
 
Property, plant and equipment, less accumulated depreciation 290,815 286,933
Goodwill 516,424 348,032
Intangible assets, less accumulated amortization 290,153 151,683
Deferred income taxes - 12,219
Other long-lived assets   75,229     63,832  
 
$ 2,175,599   $ 1,788,120  
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 231,477 $ 227,571
Accrued liabilities 144,598 153,995
Current maturities of long-term debt 12,770 -
Current liabilities held for sale   20,664     -  
 
Total current liabilities 409,509 381,566
 
Long-term debt 959,762 550,926
Postretirement benefits 132,731 131,237
Deferred income taxes 118 -
Other long-term liabilities 24,598 29,842
Stockholders’ equity:
Common stock 503 503
Additional paid-in capital 595,640 601,484
Retained earnings 297,382 276,363
Accumulated other comprehensive loss (26,231 ) (22,709 )
Treasury stock   (218,413 )   (161,092 )
 
Total stockholders’ equity   648,881     694,549  
 
$ 2,175,599   $ 1,788,120  
 
 
BELDEN INC.
CONDENSED CONSOLIDATED CASH FLOW STATEMENTS
(Unaudited)
       
Nine Months Ended
September 30, 2012 October 2, 2011
(In thousands)
Cash flows from operating activities:
Net income $ 27,888 $ 87,818
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on debt extinguishment 50,585 -
Depreciation and amortization 40,541 37,676
Asset impairment 29,998 -
Share-based compensation 9,373 8,380
Provision for inventory obsolescence 3,341 1,285
Pension funding less than pension expense 730 2,782
Tax benefit related to share-based compensation (3,947 ) (1,802 )
Income from equity method investment (7,254 ) (9,196 )
Gain from disposal of discontinued operations (9,783 ) -
Deferred income tax benefit (11,284 ) (6,619 )
Changes in operating assets and liabilities, net of the effects of currency exchange
rate changes and acquired businesses:
Receivables (8,855 ) (42,184 )
Inventories 11,701 (16,953 )
Accounts payable (7,197 ) 15,141
Accrued liabilities 870 6,301
Accrued taxes (20,866 ) 24,469
Other assets (6,550 ) (87 )
Other liabilities   (5,956 )   (7,549 )
Net cash provided by operating activities 93,335 99,462
 
Cash flows from investing activities:
Cash used to acquire businesses, net of cash acquired (341,942 ) (59,708 )
Capital expenditures (31,788 ) (21,760 )
Proceeds from disposal of tangible assets   1,236     1,206  
Net cash used for investing activities (372,494 ) (80,262 )
 
Cash flows from financing activities:
Borrowings under credit arrangements 945,250 -
Payments under borrowing arrangements (575,784 ) -
Payments under share repurchase program (75,000 ) (25,000 )
Debt issuance costs paid (15,116 ) (3,296 )
Cash dividends paid (6,990 ) (7,090 )
Proceeds from exercise of stock options 2,372 4,554
Proceeds from settlement of derivatives 4,024 -
Tax benefit related to share-based compensation   3,947     1,802  
Net cash provided by (used for) financing activities 282,703 (29,030 )
 
Effect of foreign currency exchange rate changes on cash and cash equivalents   (621 )   (633 )
 
Increase (decrease) in cash and cash equivalents 2,923 (10,463 )
Cash and cash equivalents, beginning of period   382,716     358,653  
Cash and cash equivalents, end of period $ 385,639   $ 348,190  
 
 
BELDEN INC.
OPERATING SEGMENT INFORMATION
(Unaudited)
                           
Income from

 

Total Equity Method

Three Months Ended September 30, 2012

Americas EMEA Asia Pacific Segments Eliminations Investment Total
(In thousands)
External customer revenues $ 324,111 $ 83,327 $ 82,929 $ 490,367 $ - $ - $ 490,367
Affiliate revenues   9,114   32,590   798     42,502   (42,502 )   -   -  
Total revenues $ 333,225 $ 115,917 $ 83,727 $ 532,869 $ (42,502 ) $ - $ 490,367
 
Operating income (loss) $ 21,331 $ 5,224 $ (16,641 ) $ 9,914 $ (20,076 ) $ 2,553 $ (7,609 )
 
Three Months Ended October 2, 2011
External customer revenues $ 325,248 $ 103,713 $ 90,752 $ 519,713 $ - $ - $ 519,713
Affiliate revenues   9,919   30,795   159     40,873   (40,873 )   -   -  
Total revenues $ 335,167 $ 134,508 $ 90,911 $ 560,586 $ (40,873 ) $ - $ 519,713
 
Operating income $ 39,510 $ 21,452 $ 6,934 $ 67,896 $ (17,512 ) $ 1,479 $ 51,863
 
Nine Months Ended September 30, 2012
 
External customer revenues $ 932,508 $ 270,857 $ 235,335 $ 1,438,700 $ - $ - $ 1,438,700
Affiliate revenues   29,136   90,038   2,804     121,978   (121,978 )   -   -  
Total revenues $ 961,644 $ 360,895 $ 238,139 $ 1,560,678 $ (121,978 ) $ - $ 1,438,700
 
Operating income (loss) $ 102,317 $ 43,728 $ (2,573 ) $ 143,472 $ (56,019 ) $ 7,254 $ 94,707
 
Nine Months Ended October 2, 2011
External customer revenues $ 927,978 $ 322,901 $ 266,713 $ 1,517,592 $ - $ - $ 1,517,592
Affiliate revenues   33,462   80,943   658     115,063   (115,063 )   -   -  
Total revenues $ 961,440 $ 403,844 $ 267,371 $ 1,632,655 $ (115,063 ) $ - $ 1,517,592
 
Operating income $ 110,738 $ 55,206 $ 22,339 $ 188,283 $ (45,331 ) $ 9,196 $ 152,148
 
 
BELDEN INC.
SUPPLEMENTAL PRODUCT GROUP INFORMATION
(Unaudited)
               

 

Three Months Ended September 30, 2012

Americas EMEA Asia Pacific Total
(In thousands)
Cable products $ 232,162 $ 34,666 $ 62,703 $ 329,531
Networking products 55,896 28,344 16,184 100,424
Connectivity products   36,053   20,317   4,042   60,412
Total revenues $ 324,111 $ 83,327 $ 82,929 $ 490,367

 

Three Months Ended October 2, 2011

Cable products $ 253,855 $ 39,547 $ 72,565 $ 365,967
Networking products 26,813 38,445 14,104 79,362
Connectivity products   44,580   25,721   4,083   74,384
Total revenues $ 325,248 $ 103,713 $ 90,752 $ 519,713

 

Nine Months Ended September 30, 2012

 
Cable products $ 705,370 $ 114,902 $ 183,939 $ 1,004,211
Networking products 109,507 87,598 40,414 237,519
Connectivity products   117,631   68,357   10,982   196,970
Total revenues $ 932,508 $ 270,857 $ 235,335 $ 1,438,700

 

Nine Months Ended October 2, 2011

Cable products $ 719,787 $ 129,386 $ 214,419 $ 1,063,592
Networking products 81,290 111,118 39,743 232,151
Connectivity products   126,901   82,397   12,551   221,849
Total revenues $ 927,978 $ 322,901 $ 266,713 $ 1,517,592
 
 
BELDEN INC.
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
 
In addition to reporting financial results in accordance with accounting principles generally accepted in the United States, we provide non-GAAP operating results adjusted for certain items including asset impairments, purchase accounting effects related to acquisitions, revenue and cost of sales deferrals, severance and other restructuring costs, gains (losses) recognized on the disposal of tangible assets, amortization of intangible assets, gains (losses) on debt extinguishment, and other costs. We utilize the adjusted results to review our ongoing operations without the effect of these adjustments and for comparison to budgeted operating results. We believe the adjusted results are useful to investors because they help them compare our results to previous periods and provide important insights into underlying trends in the business and how management oversees our business operations on a day-to-day basis. Adjusted results should be considered only in conjunction with results reported according to accounting principles generally accepted in the United States.
 
    Three Months Ended     Nine Months Ended
September 30, 2012     October 2, 2011 September 30, 2012     October 2, 2011
(In thousands, except percentages and per share amounts)
 
GAAP revenues $ 490,367 $ 519,713 $ 1,438,700 $ 1,517,592
Purchase accounting effects related to acquisitions 1,710 - 1,710 -
Deferred revenue adjustments   1,080     -     1,080     -  
Adjusted revenues $ 493,157   $ 519,713   $ 1,441,490   $ 1,517,592  
 
GAAP operating income (loss) $ (7,609 ) $ 51,863 $ 94,707 $ 152,148
Asset impairment 29,998 - 29,998 -
Severance and other restructuring costs 17,427 - 17,427 -
Purchase accounting effects related to acquisitions 11,219 - 11,219 -
Amortization of intangible assets 7,798 3,371 13,603 10,397
Deferred gross profit adjustments   864     -     864     -  
Total operating income adjustments   67,306     3,371     73,111     10,397  
Adjusted operating income $ 59,697   $ 55,234   $ 167,818   $ 162,545  
Adjusted operating income as a percent of adjusted revenues 12.1 % 10.6 % 11.6 % 10.7 %
 
GAAP income (loss) from continuing operations $ (51,134 ) $ 31,365 $ 15,531 $ 88,264
Operating income adjustments from above 67,306 3,371 73,111 10,397
Loss on debt extinguishment 50,585 - 50,585 -
Tax effect of adjustments   (31,572 )   (1,091 )   (33,568 )   (3,369 )
Adjusted income from continuing operations $ 35,185   $ 33,645   $ 105,659   $ 95,292  
 
GAAP income (loss) from continuing operations per diluted share $ (1.14 ) $ 0.65 $ 0.34 $ 1.83
Adjusted income from continuing operations per diluted share $ 0.77 $ 0.70 $ 2.28 $ 1.97
 
GAAP diluted weighted average shares 44,787 48,244 46,249 48,329
Adjustment for anti-dilutive shares that are dilutive under adjusted measures   769     -     -     -  
Adjusted diluted weighted average shares 45,556 48,244 46,249 48,329
 
 
BELDEN INC.
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
 
We define free cash flow, which is a non-GAAP financial measure, as net cash provided by operating activities less capital expenditures, net of proceeds from the disposal of tangible assets. We believe free cash flow provides useful information to investors regarding our ability to generate cash from business operations that is available for acquisitions and other investments, service of debt principal, dividends and share repurchases. We use free cash flow, as defined, as one financial measure to monitor and evaluate performance and liquidity. Non-GAAP financial measures should be considered only in conjunction with financial measures reported according to accounting principles generally accepted in the United States. Our definition of free cash flow may differ from definitions used by other companies.
 
    Three Months Ended     Nine Months Ended
September 30, 2012     October 2, 2011 September 30, 2012     October 2, 2011
(In thousands)
GAAP net cash provided by operating activities $ 62,773 $ 68,312 $ 93,335 $ 99,462
Capital expenditures, net of proceeds from the disposal of tangible assets   (9,152 )   (6,893 )   (30,552 )   (20,554 )
Non-GAAP free cash flow $ 53,621   $ 61,419   $ 62,783   $ 78,908  

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
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
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 Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. 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.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
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 Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines...