|By Marketwired .||
|November 8, 2012 08:00 PM EST||
CALGARY, ALBERTA -- (Marketwire) -- 11/09/12 --
Secure Energy Services Inc. ("Secure" or the "Corporation") (TSX:SES) today announced financial and operational results for the three and nine months ended September 30, 2012. The following should be read in conjunction with the management's discussion and analysis ("MD&A"), the condensed consolidated interim financial statements and notes of Secure which are available on SEDAR at www.sedar.com.
THIRD QUARTER AND YEAR-TO-DATE 2012 HIGHLIGHTS Three Months Ended Sept 30, Nine Months Ended Sept 30, ($000's except share and per share data) (unaudited)(1 % % ) 2012 2011 Change 2012 2011 Change ---------------------------------------------------------------------------- Revenue (excludes oil purchase and resale) 99,503 84,088 18 283,836 129,052 120 Oil purchase and resale 149,705 74,108 102 466,747 190,886 145 ---------------------------------------------------------------------------- Total revenue 249,208 158,196 58 750,583 319,938 135 ---------------------------------------------------------------------------- EBITDA (2) 24,915 20,653 21 71,264 37,179 92 Per share ($), basic 0.25 0.23 9 0.76 0.50 52 Per share ($), diluted 0.25 0.22 14 0.74 0.47 57 ---------------------------------------------------------------------------- Profit for the period 6,354 7,853 (19) 22,418 12,095 85 Per share ($), basic 0.06 0.09 (33) 0.24 0.16 50 Per share ($), diluted 0.06 0.08 (25) 0.23 0.15 53 ---------------------------------------------------------------------------- Capital Expenditures 50,245 34,791 44 133,983 154,724 (13) Total assets 699,982 535,448 31 699,982 535,448 31 Long term borrowings 89,187 73,979 21 89,187 73,979 21 ---------------------------------------------------------------------------- Common Shares - end of period 104,492,885 89,274,291 17 104,492,885 89,274,291 17 Weighted average common shares basic 98,724,604 89,242,506 11 93,655,304 74,853,149 25 diluted 101,492,349 93,949,868 8 96,645,131 79,314,465 22 ---------------------------------------------------------------------------- (1)Certain amounts were reclassified to conform with current period presentation (2)Refer to "Non GAAP measures and operational definitions" -- Earnings before interest, taxes, depreciation and amortization ("EBITDA") increased 21% in the third quarter of 2012 to $24.9 million as compared to the third quarter of 2011, a record for the third quarter. EBITDA for the nine months ended September 30, 2012 increased 92% to $71.3 million as compared to the same period in 2011. EBITDA per share (diluted) of $0.25 and $0.74 for the three and nine months of 2012 increased 14% and 57% respectively as compared to the same periods in 2011. EBITDA improved through the addition of new facilities, acquisitions, higher demand for processing, recovery and disposal division ("PRD") products and servic es and increased operating margins; -- Revenue (excluding oil purchase and resale) of $99.5 million and $283.8 million for the three and nine months ended September 30, 2012 improved 18% and 120% respectively compared to the same periods in 2011. PRD division third quarter disposal volumes and processing volumes increased 28% and 127% respectively over the third quarter of 2011. Contributions from new facilities started in late 2011 and in 2012 increased revenues. In particular, the Drayton Valley full service terminal ("FST"), Silverdale FST, Wild River stand-alone w ater disposal ("SWD") and the two U.S. SWD facilities al l added to processing and disposal volumes in the third quarter. Third quarter 2012 revenue for the Drilling Services ("DS") division increased 3% to $65.3 million from the third quarter of 2011, despite lower drilling activity in the third quarter of 2012 compared to the third quarter of 2011. U.S. based revenue increased quarter-over-quarter due to the Corporation establishing the U.S. business in the third quarter of 2011 and the acquisition of a U.S. based drilling fluids company in the third quarter of 2012. The average rig count in Canada was 339 rigs in the third quarter of 2012 down 25% from the same period last year. The DS division's Canadian drilling fluid market share remained constant at approximately 30% in the third quarter of 2012 compared to the third quarter of 2011; -- Oil purchase and resale revenue of $149.7 million and $466.7 million for the three and nine months ended September 30, 2012 increased compared to revenue of $74.1 million and $190.9 million in the comparable periods of 2011. Revenue increases are a result of higher throughput at all pipeline connected facilities and the Drayton Valley FST, La Glace FST and Dawson FST becoming single shipper facilities within the past year; -- Profit for the period per share (diluted) decreased to $0.06 for the three months ended September 30, 2012 compared to $0.08 for the three months ended September 30, 2011 as a result of an increased number of shares issued in conjunction with the bought deal financing in August 2012 and lower profit for the period mainly due to higher interest and taxes in the third quarter of 2012; -- The Corporation received board of director approval in the third quarter to increase the 2012 organic capital budget by $50.0 million to a total of $166.0 million. The increased capital is allocated to the PRD division with $30.0 million targeted for additional growth initiatives and $20.0 million for expansion projects. Capital expenditures from growth and expansion (excludes acquisitions and sustaining capital) for the three and nine months ended September 30, 2012 was $42.7 million and $101.4 million, respectively and is summarized as follows: -- Wild River SWD (permanent facility); -- Phase III (oil treating and terminalling) at Dawson FST; -- Oil based mud ("OBM") blending plant at the Drayton Valley FST; -- Judy Creek FST (joint venture with Pembina Pipelines Corporation); -- Rocky Mountain House ("Rocky") FST; -- Obed, Dawson and Fox Creek FST expansions; -- Fox Creek landfill; -- Crosby SWD (North Dakota); and -- Rental equipment & long lead equipment (centrifuges, tanks, treaters, frac ponds); -- In July, the Corporation successfully completed an asset purchase agreement with DRD Saltwater Disposal LLC ("DRD") for total cash and share consideration of U .S. $29.9 million. The operating assets acquired include two recently constructed fully operational SWD facilities servicing the Bakken oil play in North Dakota, which aligns with the Corporation's strategy of expanding operations into underserviced markets. Results for the acquisition are recorded in the PRD division; -- In August, the Corporation successfully acquired the operating assets of Imperial Drilling Fluids Engineering Inc. ("IDF"), a Colorado based drilling fluids company that services the Niobrara and Cordell Shale plays for U.S. $7.0 million and a series of future earn out payments that in aggregate range from U.S. $2.7 million to U.S. $8.0 million for total maximum consideration of U.S. $15.0 million; -- In August, Secure closed a bought deal financing (the "Offering") raising total proceeds of $86.3 million. The net proceeds from the Offering were initially used to repay the Corporation's credit facility. It is management's intent to redraw on the credit facility to fund a portion of the increased 2012 capital expenditure program and for working capital and general corporate purposes; and -- Subsequent to the third quarter, the Corporation increased the syndicated credit facility from $200.0 million to $300.0 million through an amended and restated extendible credit facility agreement. The credit agreement also includes an accordion provision allowing the Corporation to increase the credit facility by $50.0 million to $350.0 million. The increase in the credit facility will be used to fund the 2013 and 2014 capital expenditure program, and for working capital and general corporate purposes. PRD DIVISION OPERATING HIGHLIGHTS Three Months Ended Sept 30, Nine Months Ended Sept 30, ($000's) (unaudited)(1) 2012 2011 % Change 2012 2011 % Change ---------------------------------------------------------------------------- Revenue Processing, recovery and disposal services (a) 34,252 20,562 67 93,335 56,021 67 Oil purchase and resale service 149,705 74,108 102 466,746 190,886 145 ---------------------------------------------------------- Total PRD division revenue 183,957 94,670 94 560,081 246,907 127 ---------------------------------------------------------- Operating Expenses Processing, recovery and disposal services (b) 13,211 8,484 56 36,342 23,825 53 Oil purchase and resale service 149,705 74,108 102 466,746 190,886 145 Depreciation, depletion, and amortization 7,408 4,951 50 20,299 12,960 57 ---------------------------------------------------------- Total operating expenses 170,324 87,543 95 523,387 227,671 130 General and administrative 3,955 2,704 46 9,798 6,736 45 ---------------------------------------------------------- Total PRD division expenses 174,279 90,247 93 533,185 234,407 127 Operating Margin (2) (a-b) 21,041 12,078 74 56,993 32,196 77 Operating Margin (2)as a % of revenue (a) 61% 59% 3 61% 57% 7 ---------------------------------------------------------------------------- (1)Certain amounts were reclassified to conform with current period presentation (see note below) (2)Refer to "Non GAAP measures and operational definitions"
Note: In the prior year, the Corporation completed the acquisition of Marquis Alliance Energy Group Inc. and its wholly owned subsidiaries ("Marquis Alliance") and XL Fluids Systems Inc. ("XL Fluids"), creating the DS division. In 2012, Secure has reclassified certain costs previously included in the PRD division, including segregating out costs associated with Corporate overhead. Accordingly, any reclassifications in 2012 were adjusted in the prior year to conform to current period presentation.
Highlights for the PRD division included:
-- For the three and nine months ended September 30, 2012, revenue from processing, recovery and disposal increased to $34.3 million and $93.3 million from $20.6 million and $56.0 million in the comparable periods of 2011. Processing volumes increased 127% and 158% for the three and nine months ended September 30, 2012 compared to the same periods of 2011. Added facilities and expansions in 2011 and 2012 plus increased demand contributed to the improvement in revenue. The following new facilities and services were added after the third quarter of 2011; Drayton Valley FST and Silverdale FST both operational in the fourth quarter of 2011; Secure's frac pond rental service starting in October of 2011; the completion of construction of the Wild River SWD permanent facility in April of 2012; the addition of Dawson FST crude oil treating in June of 2012; and the acquisition of DRD in June of 2012 (the "new facilities and services"). Secure's disposal volumes increased by 28% and 31% for the three and nine months ended September 30, 2012 compared to the same periods of 2011; -- Operating expenses from processing, recovery and disposal services for the three and nine months ended September 30, 2012 increased to $13.2 million and $36.3 million from $8.5 million and $23.8 million in the comparative periods of 2011. Operating expenses to a large degree are variable and will correspond to changes in revenue. Variable expenses include items such as trucking, utilities, facility repairs and maintenance. Revenue for both the three and nine months ending September 30, 2012 increased 67% which corresponds to the 56% and 53% increase in operating expenses over the comparable prior year periods. Operating expenses are also higher as a result of Secure's new facilities and services completed in 2011 and 2012 as mentioned above; and -- Operating margin as a percentage of revenue from processing, recovery and disposal services for the three and nine months ended September 30, 2012 was consistent at 61% for both periods, an increase from 59% and 57% for the three and nine months ended September 30, 2011, respectively. Operating margins increased by two percentage points over the third quarter of 2011. Third quarter 2011 operating costs and margins were negatively impacted by heavy rains in July which increased road maintenance, site and equipment, and leachate disposal expenses. These expenses decreased $0.8 million in the third quarter of 2012 as compared to the third quarter of 2011. Operating margins are in line with management expectations. DS DIVISION OPERATING HIGHLIGHTS Three Months Ended Sept 30, Nine Months Ended Sept 30, ($000's) (unaudited) (1) 2012 2011 % Change 2012 2011 % Change ---------------------------------------------------------------------------- Revenue Drilling services (a) 65,251 63,526 3 190,502 73,031 161 Operating expenses Drilling services (b) 50,259 46,240 9 145,371 52,832 175 Depreciation and amortization 3,709 2,284 62 9,417 3,134 200 ------------------------------------------------------------ Total DS division operating expenses 53,968 48,524 11 154,788 55,966 177 General and administrative 6,830 5,273 30 19,668 6,416 207 ------------------------------------------------------------ Total DS division expenses 60,798 53,797 13 174,456 62,382 180 ------------------------------------------------------------ Operating Margin (2) (a-b) 14,992 17,286 (13) 45,131 20,199 123 Operating Margin % (2) 23% 27% (15) 24% 28% (14) ---------------------------------------------------------------------------- (1)Includes DS division from its acquisition on June 1, 2011. (2)Refer to "Non GAAP measures and operational definitions"
Highlights for the DS division included:
-- Revenue from the DS division for the three and nine months ended September 30, 2012 was $65.3 million and $190.5 million. This compares to $63.5 million and $73.0 million in the same periods of 2011. Results for the nine months ended September 30, 2011 are not comparable to 2012 as the DS division was acquired on June 1, 2011. The 3% increase in DS division revenue in the third quarter of 2012 compared to the third quarter of 2011 is due to increased sales volumes of low margin oil based drilling fluids as well as revenue from the U.S. segment. Oil based drilling fluids are preferred for use in horizontal and directional drilling applications; -- The drilling fluids service line estimated Canadian market share over the third quarter of 2012 was approximately 30% consistent to the third quarter of 2011. The market share percentage was based on the Canadian Association of Oilwell Drilling Contractors ("CAODC")- average monthly rig count for Western Canada of 339 rigs for the third quarter of 2012, compared to 453 rigs through the first quarter (refer to "Non-GAAP measures and Operational Definitions"); -- Third quarter operating days for the Canadian drilling fluids service line were 9,113 operating days compared to 12,512 operating days in the third quarter of 2011. The 27% decrease in operating days is a result of the slowdown in drilling activity reflected by weakened customer demand. Revenue per operating day for the third quarter of 2012 was $5,267 compared to $4,334 in the third quarter of 2011. Revenue per operating day improved as a result of higher sales volumes of low margin oil based fluids in 2012 versus; and -- For the three months ended September 30, 2012 operating margins were $15.0 million or 23% of revenue compared to $17.3 million or 27% of revenue for the third quarter of 2011, a 13% quarter-over-quarter decline. The decline in both absolute dollars and margin percentage are due to slower industry conditions as demonstrated by the 25% drop in Western Canadian Sedimentary Basin ("WCSB") industry rig count, a higher proportion of sales volume relating to the purchase and sale of low margin oil based stock used in oil based drilling, an increase in U.S. lower margin drilling fluid revenue, and a decrease in high margin Canadian rental revenue. In periods of rising oil based stock prices or increased activity in oil based drilling fluids, revenue and product costs increase accordingly resulting in decreased margins on a percentage basis. On an absolute basis, operating margins remain in line with management expectations.
WCSB industry conditions in the third quarter of 2012 were lower than those experienced in the prior year's quarter. Activity in the WCSB was slower than expected due to wet weather continuing into July as well as spending restraint exhibited by Secure's customers. The quarter over quarter active rig count in the WCSB where focus continues to be on oil and natural gas liquid plays was down 25%. Low dry natural gas prices make exploration and production of the commodity uneconomical therefore dampening overall industry activity. The WCSB industry trend is consistent in the United States where the active land rig count softened for a fourth consecutive quarter and decreased 3% quarter over quarter. Oil drilling accounted for 75% of active rigs as rigs were redirected from the Marcellus and Haynesville shale gas resource plays. In Canada, the average rig count declined year-over-year to the end of September, consistent to the total metres drilled decline to 16.8 million metres for the nine months ended September 2012 from 20.4 million metres the previous year. Metres drilled has become a more relevant statistic as more complex drilling, shifts to horizontal wells and greater well depths drive overall industry activity. Secure's customers remain cautious given macro-economic factors, low natural gas prices and the desire to maintain reasonable debt levels.
Given the mixed industry conditions, Secure's strategy of focusing on underserviced geographic areas has proven to be effective. The addition of the Wild River SWD, crude oil treating and terminalling at the Dawson facility, the Drayton Valley FST and U.S. acquisitions contributed to improved operating and financial performance in the third quarter. Secure exploits the industry value chain from "crad le to grave" and focuses on environmental and midst ream services. By doing so, the Corporation lessens its dependence on drilling related revenue streams in favour of production related services.
The Corporation is exploring a number of strategic growth opportunities through acquisition and organic expansion in order to provide additional service lines in key market areas in Canada and the United States. In the quarter, Secure expanded its PRD business into North Dakota through the acquisition of the operating assets of DRD. DRD's assets included two recently constructed operating SWD facilities serving the Bakken oil play. The DRD acquisition provides the foundation for Secure to expand its PRD services at the two existing locations. Secure anticipates the opening of its first constructed SWD at Crosby, North Dakota, by the end of the fourth quarter. The DS division added to its drilling fluids presence in Colorado by acquiring a drilling fluids company that focuses on the Niobrara and Cordell Shale plays. Both of these acquisitions provide the Corporation a platform to capitalize on the potential in the active Bakken and Niorbrara areas.
Secure announced a $50.0 million increase in its organic capital expenditure program in the third quarter. The total capital program for 2012 is forecast to be $166.0 million, with a portion being carried into 2013 for long lead items and the completion of both the Judy Creek and Rocky FST's in the first quarter of 2013. The construction of the Saddle Hills landfill will be started in the spring of 2013 as the approvals for the facility were not received in time to complete construction in the fourth quarter. The new oil based mud blending facility at the Drayton Valley FST became fully operational in September; the new facility reduces costs associated with logistics, develops recycling opportunities, and provides support to the ongoing activities in the DS division. The DS division also added $3.6 million of rental equipment to its fleet in Canada and the United States. Management believes the capital growth projects undertaken in 2012 and into 2013 provide a basis for improved results on a go forward basis.
To ensure growth is executed in a disciplined manner the Corporation completed a bought deal financing raising $86.3 million in the quarter. The financing ensures a strong balance sheet is maintained allowing the Corporation to manage the cycles of the oil and gas industry. Subsequent to the third quarter, the Corporation executed an amending agreement to its credit facility increasing the available amount from $200.0 million to $300.0 million. The bought deal financing and increased credit facility permits the Corporation to seize growth initiatives while maintaining optimum debt and equity levels on the balance sheet.
Management believes the added facilities, new products and new services, combined with future opportunities, will provide continued growth over the long term.
The positive operational and financial results for the year are due to the commitment of Secure's employees, consultants and industry partners. Secure's focus remains on providing integrated innovative solutions for its customers.
INTERIM FINANCIAL STATEMENTS AND MD&A
The condensed consolidated interim financial statements and MD&A of Secure for the three and nine months ended September 30, 2012 are available immediately on Secure's website at www.secure-energy.ca. The condensed consolidated interim financial statements and MD&A will be available tomorrow on SEDAR at www.sedar.com.
Certain statements contained in this document constitute "forward-looking statements" and/or "forward- looking information" within the meaning of applicable securities laws (collectively referred to as forward-looking statements). When used in this document, the words "may", "would ", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, as they relate to Secure, or its management, are intended to identify forward-looking statements. Such statements reflect the current views of Secure with respect to future events and operating performance and speak only as of the date of this document. In particular, this document contains forward- looking statements pertaining to: general market conditions; the oil and natural gas industry; activity levels in the oil and gas sector, including drilling levels; demand for the Corporation's services and the factors contributing thereto; expansion strategy; the expanded 2012 capital budget, the allocation between the PRD and DS divisions and the intended use thereof; debt service; capital expenditures; completion of facilities; future capital needs; access to capital; acquisition strategy; the Corporation's capital spending on the Rocky Mountain House and Judy Creek, Alberta full service terminals and the timing of completion thereof; oil purchase and resale revenue; the construction of a landfill at Fox Creek, Alberta and the timing for completion thereof and the amount of the Corporation's asset retirement obligations and the timing thereof; the construction of a standalone water disposal at Crosby, North Dakota and the timing for completion thereof.
Forward-looking statements concerning expected operating and economic conditions are based upon prior year results as well as the assumption that increases in market activity and growth will be consistent with industry activity in Canada, United States, and internationally and growth levels in similar phases of previous economic cycles. Forward-looking statements concerning the availability of funding for future operations are based upon the assumption that the sources of funding which the Corporation has relied upon in the past will continue to be available to the Corporation on terms favorable to the Corporation and that future economic and operating conditions will not limit the Corporation's access to debt and equity markets. Forward-looking statements concerning the relative future competitive position of the Corporation are based upon the assumption that economic and operating conditions, including commodity prices, crude oil and natural gas storage levels, interest rates, the regulatory framework regarding oil and natural gas royalties, environmental regulatory matters, the ability of the Corporation and its subsidiary to successfully market their services and drilling and production activity in North America will lead to sufficient demand for the Corporation's services and its subsidiary's services including demand for oilfield services for drilling and completion of oil and natural gas wells, that the current business environment will remain substantially unchanged, and that present and anticipated programs and expansion plans of other organizations operating in the energy service industry will result in increased demand for the Corporation's services and its subsidiary's services. Forward-looking statements concerning the nature and timing of growth are based on past factors affecting the growth of the Corporation, past sources of growth and expectations relating to future economic and operating conditions. Forward-looking statements in respect of the costs anticipated to be associated with the acquisition and maintenance of equipment and property are based upon assumptions that future acquisition and maintenance costs will not significantly increase from past acquisition and maintenance costs.
Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. Readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements, including but not limited to those factors referred to and under the heading "Business Risks" and under the heading "Risk Factors" in the Corporation's annual information form (" AIF") for the year ended December 31, 2011. Although forward-looking statements contained in this document are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this document are expressly qualified by this cautionary statement. Unless otherwise required by law, Secure does not intend, or assume any obligation, to update these forward-looking statements.
Non GAAP Measures and Operational Definitions
1. The Corporation uses accounting principles that are generally accepted in Canada (the issuer's "GAAP"), which includes, International Financial Reporting Standards ("IFRS"). These financial measures are No n- GAAP financial measures and do not have any standardized meaning prescribed by IFRS. These non-GAAP measures used by the Corporation may not be comparable to a similar measures presented by other reporting issuers. See the management's discussion and analysis available at www.sedar.com for a reconciliation of the Non-GAAP financial measures and operational definitions. These non-GAAP financial measures and operational definitions are included because management uses the information to analyze operating performance, leverage and liquidity. Therefore, these non-GAAP financial measures and operational definitions should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.
Secure Energy Services Inc.
Chairman, President and Chief Executive Officer
(403) 984-6101 (FAX)
Secure Energy Services Inc.
Chief Financial Officer
(403) 984-6101 (FAX)
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.
Oct. 1, 2014 11:45 PM EDT Reads: 1,040
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 spoken with, or attended presentations from, utilities in the United States, South America, Asia and Europe. This session will provide a look at the CREPE drivers for SmartGrids and the solution spaces used by SmartGrids today and planned for the near future. All organizations can learn from SmartGrid’s use of Predictive Maintenance, Demand Prediction, Cloud, Big Data and Customer-facing Dashboards...
Oct. 1, 2014 11:45 PM EDT Reads: 875
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.
Oct. 1, 2014 10:00 PM EDT Reads: 1,752
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
Oct. 1, 2014 08:30 PM EDT Reads: 2,161
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. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Oct. 1, 2014 05:00 PM EDT Reads: 2,376
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArchon, he served as a VP and Principal Analyst with Constellation Group. He is a member of the Boulder (Colo.) Brain Trust, an organization with a mission “to benefit the Business Intelligence and data management industry by providing pro bono exchange of information between vendors and independent analysts on new trends and technologies and to provide vendors with constructive feedback on their of...
Oct. 1, 2014 03:30 PM EDT Reads: 1,018
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.
Sep. 30, 2014 10:30 AM EDT Reads: 1,580
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Sep. 29, 2014 06:45 AM EDT Reads: 1,917
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
Sep. 28, 2014 09:45 AM EDT Reads: 1,559
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) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Sep. 27, 2014 11:30 PM EDT Reads: 1,939
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
Sep. 27, 2014 10:30 PM EDT Reads: 1,850
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
Sep. 27, 2014 10:30 PM EDT Reads: 2,315
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
Sep. 27, 2014 09:45 PM EDT Reads: 2,537
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
Sep. 27, 2014 08:45 PM EDT Reads: 2,406
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 machines.
Sep. 27, 2014 01:00 PM EDT Reads: 2,078
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 Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
Sep. 26, 2014 11:45 PM EDT Reads: 1,602
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
Sep. 26, 2014 10:45 PM EDT Reads: 1,522
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
Sep. 26, 2014 07:45 PM EDT Reads: 2,335
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
Sep. 26, 2014 06:15 PM EDT Reads: 1,715
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. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Sep. 26, 2014 06:00 PM EDT Reads: 1,629