|By Marketwired .||
|November 9, 2012 06:42 PM EST||
WARWICK, NY -- (Marketwire) -- 11/09/12 -- Warwick Valley Telephone Company (NYSE MKT: WVT) (referred to as WVT Communications Group or the Company), the parent company of leading cloud communications pioneers, today announced financial results for its third quarter ended September 30, 2012. Financial results and recent corporate development highlights include:
- Cloud or unified communications ("UC") revenues net of eliminations were $3.6 million in third quarter 2012, an increase of 38% from $2.6 million compared to the same period last year and 11% from the second quarter 2012, while revenue from our Telephone segment declined 19% to $3.4 million
- Total third quarter revenues increased 3% over the same period last year
- At over 51% of third quarter consolidated revenues, UC is now the Company's largest segment
- Gross profit was $3.6 million in third quarter 2012, an increase of 29% from $2.8 million in third quarter 2011 and up by 3.5% from $3.5 million in the second quarter 2012
- Gross profit as a percentage of revenues increased to 51.4% in third quarter 2012, from 41.1% in third quarter 2011 and 50.1% in second quarter 2012
- The Company received $3.25 million in cash distributions from Orange County-Poughkeepsie Limited Partnership ("O-P") investment, which were recorded as other income in the third quarter of 2012
- During the third quarter 2012, we recorded a net loss of $(922,000), or $(0.16) per common share, a lost reduction of nearly 50% from the same period last year. The Company declared quarterly cash dividend of $0.27 per common share for the third quarter of 2012
- Transition and rebranding as leading cloud-based UC provider bolstered by new listing on NYSE MKT with ticker symbol WVT which became effective on November 6, 2012, and a successful start to transforming of the parent company into an unregulated holding company on November 1, 2012.
- Cloud-based UC Solutions Headlines:
- Grand opening of first Innovation Center for potential customers to experience Alteva unified communications solutions, located in new UC headquarters in Philadelphia
- Alteva received 2012 Cloud Computing Excellence Award with Hosted VoIP Communications honored for innovation
- Alteva received 2012 Internet Telephony Excellence Award
- Alteva Hosted UC Services named Communications Solutions Product of the Year Award by TMC
- Ranked #9 in North America Hosted IP Telephony/UC Services Market by Frost & Sullivan*
- Provisioning of new customers for UC services continues at record levels
Third Quarter 2012 Results
Revenues for the three-month period ended September 30, 2012 increased 3% to $7.1 million, compared to $6.8 million for the same period in 2011.
In the first quarter of 2012, the Company realigned its segment reporting and management structure as a result of the Alteva acquisition in 2011. The Company's segments are strategic business units that offer different products and services and are now managed as Unified Communications ("UC") or Cloud Communications services, and Telephone. Revenues discussed in this press release for periods prior to the first quarter of 2012 have been presented on the basis of the new segment reporting.
Revenues from UC services, net of eliminations, were $3.6 million in the third quarter of 2012, an increase of 38% from $2.6 million in the prior year period. As a percentage of consolidated revenue, the UC segment contributed over 51% of revenues in the third quarter of 2012 as compared with 38% in the same period of the prior year and 47% in the second quarter of 2012. The increase in UC revenues of nearly $1 million was primarily attributable to the full quarter impact of the Company's acquisition of Alteva on August 5, 2011, and organic unified communications services revenue growth.
Telephone services revenues net of eliminations were $3.4 million in the third quarter of 2012, a decrease from $4.2 million in the corresponding 2011 period. The Telephone segment contributed 49% of revenues in the third quarter as compared with 62% in the third quarter of 2011 and 53% in the second quarter of 2012. The decrease was primarily due to lower Universal Service Fund revenues and the termination of the Nation Rural Telecommunications Cooperative ("NRTC") contract as of August 15, 2011. The termination of the NRTC contract changed our DIRECTV services revenue from monthly recurring to one based on sales commissions and reimbursements for installation costs and losses due to wireless substitution and competition for other triple play service providers offset by an increase in access lines rates.
Gross profit increased by 29% to $3.6 million in the third quarter of 2012 from $2.8 million in the same period of 2011. Gross profit as a percentage of revenues increased to 51.4% in the third quarter 2012 from 41.1% in the 2011 period and 50.1% in the second quarter of 2012. The improvement in gross profit in dollars as well as on a margin basis primarily reflects (i) the substantial increase in revenues contributed by the UC segment in the third quarter of 2012 compared to the same period last year, (ii) and our ability to leverage our infrastructure.
Selling, general and administrative ("SG&A") expenses in the third quarter of 2012 increased to $6.2 million from $4.9 million in the corresponding period of 2011. The 27% increase in SG&A expenses reflects the additional operating expenses for Alteva as well as the current and ongoing requirements to support the Company's Cloud Communications growth strategies. Included in SG&A for the three months ended September 30, 2012 was $550,000 of nonrecurring charges. These charges were primarily professional fees and other costs related to the acquisition of Alteva and the corporate restructuring.
Total other income for the three-month period ended September 30, 2012 was $2.7 million as compared to $1.3 million for the same period in 2011. This increase is primarily due to O-P distributions of $3.25 million in the third quarter of 2012 as compared with $1.3 million in the prior year period which was recorded based on the amount in excess of the Company's share of the O-P earnings for that period as opposed to being applied to the investment account.
For the three-month period ended September 30, 2012, the Company had a net loss of $(922,000), or $(0.16) per basic and diluted share, compared to a net loss of $(1.7) million, or $(0.31) per basic and diluted share, for the three-month period ended September 30, 2011.
The Board of Directors of WVT Communications Group declared a regular quarterly dividend of $0.27 per share on the Company's common shares. The dividend was paid on September 28, 2012 to shareholders of record as of September 18, 2012. In addition, the Board of Directors declared the regular quarterly dividend of $1.25 per share on the outstanding 5,000 shares of the Company's 5% Preferred Shares that was paid on September 28, 2012 to shareholders of record as of September 18, 2012. Dividends distributed by the Company are paid using the cash distributions from the O-P.
"WVT Communications Group has made impressive progress toward our goal of transitioning into a highly prominent, fast growing cloud-based Unified Communications platform provider," said Duane W. Albro, the Company's Chief Executive Officer. "UC revenues contributed more than half of our quarterly consolidated revenues for the first time in the Company's history. We are further pleased that our UC platform is well positioned for continued growth in revenue and gross margins. These are some of the business characteristics we sought as we embarked on our transformation.
"In related and supportive initiatives, WVT Communications Group became a holding company on November 1, 2012, and moved its ILEC operations to a wholly-owned subsidiary which is now subject to regulations by telecommunications governing bodies. This is being accompanied by a complete rebranding of the Company that focuses on our cloud UC platform, including the transfer of our common stock to the NYSE MKT on November 6, 2012, with WVT as our new ticker symbol that will reflect, upon shareholder approval, an official name change to WVT Communications Group.
"Our transition has further taken hold with numerous industry accolades. We have won several awards for technology innovation within the Cloud Communications industry and our executives are in high demand for speaking and conference appearances across the country. Industry analysts are taking note of us and business customers are lining up for our services. The numbers of customers in provisioning for our UC services remains at a record high level. While our UC solutions are ideal for most business customers, our efforts to target the middle market segment are showing signs of success. Given our market position and the significant leverage in our operating model, we look forward to capitalizing on the demand for our UC services."
The Company will conduct a conference call to discuss third quarter results on Monday, November 12, 2012, at 9:00 a.m. eastern. Investors and other interested parties can listen to the call by dialing the participant numbers of 877-317-6789 (toll free) or 412-317-6789, no access code required, approximately 10 minutes prior to the start of the conference call. The conference call will also be webcast live on the WVT Communications Group website at www.wvtcg.com.
A replay of this conference call will also be available by dialing 877-344-7529 (toll free) or 412-317-0088, access code: 10016612, beginning 11:00 a.m. eastern on November 12 through December 3, and via the investor relations section of the Company's website.
About WVT Communications Group
WVT Communications Group is a world technology leader in providing cloud-based Unified Communications (UC) solutions for small, medium and enterprise businesses. Founded in 1902, the Company has continued to adapt and remain on the forefront of technology, chiseling its position among the most stable and respected communications vendors around the globe. Moving forward, it is forging the new model that communications providers, large and small, are striving to emulate. WVT Communications Group is merging new innovations, such as those from Alteva and USA Datanet, with proven technology from industry leaders like Microsoft, Cisco, BroadSoft, Panasonic, and Polycom to build the ideal hosting architecture for communications.
Through its USA Datanet (a Hosted VoIP and carrier services provider), Alteva (the nation's ninth largest UC provider), and Warwick Valley Telephone (a highly respected traditional telecom provider turned premier regional broadband company) businesses, WVT Communications Group is enabling businesses of any size to communicate more efficiently with hassle-free communications tools. By overlaying a UC division on its stabile, regional broadband company, WVT Communications Group has positioned itself in front of its peer group of companies and created an evolutionary change in its strategy. With this, the company may offer its residential customers a similar suite of UC applications and services for use in a home environment that its business customers can enjoy. Visit www.wvtcg.com or call 855-U-GO-CLOUD for more information.
All trademarks are the properties of their respective owners.
*Frost & Sullivan Analysis, March 2012
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements, without limitation, regarding expectations, beliefs, intentions or strategies regarding the future. WVT Communications Group intends that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause WVT Communications Group's actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the geographic regions in which WVT Communications Group operates; industry capacity; demographic changes; technological changes and changes in consumer demand; the successful integration of WVT Communication Group's acquired businesses; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; legislative proposals relating to the businesses in which WVT Communication Group operates; reduction in cash distributions from the Orange County-Poughkeepsie Limited Partnership; competition; or the loss of any significant ability to attract and retain qualified personnel. Given these uncertainties, current and prospective investors should be cautioned in their reliance on such forward-looking statements. Except as required by law, WVT Communications Group disclaims any obligation to update any such factors or to publicly announce the results of any revision to any of the forward-looking statements contained herein to reflect future events or developments. A more comprehensive discussion of risks, uncertainties and forward-looking statements may be seen in WVT Communications Group's Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
WARWICK VALLEY TELEPHONE COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) ($ in thousands except share and per share amounts) Three Months Ended Nine Months Ended September 30, September 30, ---------------------- ---------------------- 2012 2011 2012 2011 ---------- ---------- ---------- ---------- Operating revenues Unified Communications $ 3,621 $ 2,628 $ 10,147 $ 5,269 Telephone 3,429 4,201 10,870 13,549 ---------- ---------- ---------- ---------- Total operating revenues 7,050 6,829 21,017 18,818 Operating expenses Cost of services and products (exclusive of depreciation and amortization expense) 3,428 4,024 10,410 10,215 Selling, general and administrative expenses 6,230 4,883 17,241 12,471 Depreciation and amortization 1,411 1,365 3,986 4,103 ---------- ---------- ---------- ---------- Total operating expenses 11,069 10,272 31,637 26,789 ---------- ---------- ---------- ---------- Operating loss (4,019) (3,443) (10,620) (7,971) Other income (expense) Interest income (expense), net (123) (55) (292) 4 Income from equity method investment 3,250 1,328 7,771 6,744 Other income (expense), net (468) 31 (337) 46 ---------- ---------- ---------- ---------- Total other income (expense) 2,659 1,304 7,142 6,794 ---------- ---------- ---------- ---------- Loss before income taxes (1,360) (2,139) (3,478) (1,177) Income taxes benefit (438) (450) (1,094) (120) ---------- ---------- ---------- ---------- Net loss (922) (1,689) (2,384) (1,057) Preferred dividends 6 6 19 19 ---------- ---------- ---------- ---------- Loss applicable to common stock $ (928) $ (1,695) $ (2,403) $ (1,076) ========== ========== ========== ========== Basic loss per share $ (0.16) $ (0.31) $ (0.42) $ (0.20) ========== ========== ========== ========== Basic loss per puttable common share $ (0.16) $ (0.31) $ (0.42) $ (0.20) ========== ========== ========== ========== Diluted loss per share $ (0.16) $ (0.31) $ (0.42) $ (0.20) ========== ========== ========== ========== Diluted loss per puttable common share $ (0.16) $ (0.31) $ (0.42) $ (0.20) ========== ========== ========== ========== Weighted average shares of common stock used to calculate loss per share Basic 5,744,020 5,424,927 5,732,231 5,408,603 ========== ========== ========== ========== Diluted 5,744,020 5,424,927 5,732,231 5,408,603 ========== ========== ========== ========== Dividends declared per common share $ 0.27 $ 0.26 $ 0.81 $ 0.78 ========== ========== ========== ========== WARWICK VALLEY TELEPHONE COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS ($ in thousands except share and per share amounts) September 30, December 31, 2012 2011 -------------- -------------- Assets (Unaudited) Current assets Cash and cash equivalents $ 2,559 $ 4,575 Short term investments - 259 Accounts receivable - net of allowance for uncollectibles - $744 and $759 in 2012 and 2011, respectively 3,549 2,717 Other accounts receivable 240 174 Materials and supplies 763 832 Prepaid expenses 1,255 731 Prepaid income taxes 2,206 2,715 Deferred Income taxes 405 405 -------------- -------------- Total current assets 10,977 12,408 -------------- -------------- Property, plant and equipment, net 25,864 25,425 Intangible assets, net 8,287 8,605 Investments - 1,979 Goodwill 9,121 9,121 Other assets 416 378 -------------- -------------- Total assets $ 54,665 $ 57,916 ============== ============== Liabilities and Shareholders' Equity Current liabilities Short-term borrowings $ 12,095 $ 5,600 Current maturities of long-term debt - 1,139 Accounts payable 1,292 1,715 Amounts due in connection with business acquisition 488 2,377 Derivative liability in connection with business acquisition - 131 Advance billing and payments 389 390 Accrued taxes 684 521 Pension and postretirement benefit obligations 622 622 Other accrued expenses 3,907 3,398 -------------- -------------- Total current liabilities 19,477 15,893 -------------- -------------- Amounts due in connection with business acquisition - 472 Deferred income taxes 1,575 1,358 Pension and postretirement benefit obligations 9,463 9,915 -------------- -------------- Total liabilities 30,515 27,638 -------------- -------------- Commitments and contingencies Puttable common stock, $.01 par value, 25,148 shares issued and outstanding at September 30, 2012 and 272,479 shares issued and outstanding at December 31, 2011 369 4,125 Shareholders' equity Preferred shares - $100 par value; authorized and issued shares of 5,000; $0.01 par value; authorized and unissued shares of 10,000,000 500 500 Common stock - $0.01 par value; authorized shares of 10,000,000 Issued 6,556,081 and 6,217,839 shares at September 30, 2012 and December 31, 2011, respectively 66 62 Treasury stock - at cost, 788,825 and 735,391 shares of common stock at September 30, 2012 and December 31, 2011, respectively (7,049) (6,262) Additional paid in capital 11,310 6,191 Accumulated other comprehensive loss (4,590) (4,979) Retained earnings 23,544 30,641 -------------- -------------- Total shareholders' equity 23,781 26,153 -------------- -------------- Total liabilities and shareholders' equity $ 54,665 $ 57,916 ============== ==============
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new data-driven world, marketplaces reign supreme while interoperability, APIs and applications deliver un...
Oct. 9, 2015 06:00 AM EDT Reads: 283
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Oct. 9, 2015 06:00 AM EDT Reads: 1,393
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Oct. 9, 2015 05:45 AM EDT
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll share tips on how to speed up business initiatives, harness Big Data and remain one step ahead by apply...
Oct. 9, 2015 05:15 AM EDT Reads: 503
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context w...
Oct. 9, 2015 05:15 AM EDT
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
Oct. 9, 2015 04:00 AM EDT Reads: 566
The broad selection of hardware, the rapid evolution of operating systems and the time-to-market for mobile apps has been so rapid that new challenges for developers and engineers arise every day. Security, testing, hosting, and other metrics have to be considered through the process. In his session at Big Data Expo, Walter Maguire, Chief Field Technologist, HP Big Data Group, at Hewlett-Packard, will discuss the challenges faced by developers and a composite Big Data applications builder, focusing on how to help solve the problems that developers are continuously battling.
Oct. 9, 2015 04:00 AM EDT Reads: 500
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete end-to-end walkthrough of the analysis from start to finish. Participants will also be given the pract...
Oct. 9, 2015 03:00 AM EDT Reads: 291
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Oct. 9, 2015 03:00 AM EDT Reads: 727
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust IoT ...
Oct. 9, 2015 02:00 AM EDT Reads: 2,215
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, along with new ways to engage with users.
Oct. 9, 2015 02:00 AM EDT Reads: 167
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Oct. 9, 2015 02:00 AM EDT Reads: 208
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 9, 2015 01:45 AM EDT Reads: 7,026
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Oct. 9, 2015 12:00 AM EDT Reads: 1,133
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at 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. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
Oct. 8, 2015 10:00 PM EDT Reads: 595
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 8, 2015 09:00 PM EDT Reads: 118
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text message to Betty – mobile messaging now offers tremendous value to businesses for customer and empl...
Oct. 8, 2015 05:30 PM EDT Reads: 233
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.
Oct. 8, 2015 04:30 PM EDT Reads: 7,472
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
Oct. 8, 2015 02:45 PM EDT Reads: 499
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud without worrying about any lock-in fears. In fact by having standard APIs for IaaS would help PaaS expl...
Oct. 8, 2015 02:30 PM EDT Reads: 657