Welcome!

Microsoft Cloud Authors: Pat Romanski, Srinivasan Sundara Rajan, Glenn Rossman, Janakiram MSV, Steven Mandel

News Feed Item

Bankers Petroleum Announces 2012 Third Quarter Financial and Operational Results

Record Quarter of Production and Cash Flows

CALGARY, Nov. 12, 2012 /PRNewswire/ - Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) is pleased to provide its 2012 third quarter financial and operational results.  The complete reporting package, consisting of Management's Discussion and Analysis along with the Financial Statements and Notes, is posted on the Company's website www.bankerspetroleum.com and on SEDAR: www.sedar.com.

Results at a Glance
(US$000, except as noted)
Three months ended
September 30
Nine months ended
September 30
  2012 2011 Change 2012 2011 Change
Oil revenue 115,054 93,650 23% 316,309 251,570 26%
Net operating income 58,159 44,898 30% 158,882 131,976 20%
Net income 12,274 13,696 (10%) 31,292 35,715 (12%)
  Per share - basic ($) 0.049 0.055 (11%) 0.124 0.145 (14%)
    - diluted ($) 0.048 0.054 (11%) 0.123 0.140 (12%)
Funds generated from operations(1) 48,308 42,099 15% 139,539 115,267 21%
  Per share - basic ($) 0.191 0.170 12% 0.554 0.467 19%
Capital expenditures 53,526 65,147 (18%) 168,859 186,465 (9%)
Average sales (bopd) 15,715 13,667 15% 14,393 12,578 14%
Average price ($/barrel) 79.58 74.48 7% 80.21 73.26 9%
Netback ($/barrel) 40.23 35.71 13% 40.29 38.43 5%
(1) Includes a $3.9 million payment for a financial commodity contract in August 2012.
                   
  September 30
2012
December 31
2011
September 30
2011
Cash and cash on deposits   40,112   54,013   53,243
Working capital   106,537   80,282   73,491
Total assets   810,017   661,216   612,348
Long-term debt   97,016   46,692   20,187
Shareholders' equity   471,907   412,679   405,955
             
             

Highlights for the quarter and nine months ended September 30, 2012 are:

  • For the third quarter of 2012, oil sales averaged 15,715 bopd, an increase of 15% compared to 13,667 bopd for the same period in 2011 and an increase of 11% compared to 14,169 bopd for the preceding quarter.  For the nine months ended September 30, 2012, oil sales increased 14% to 14,393 bopd from 12,578 bopd for the comparable 2011 period.
  • Revenue for the third quarter of 2012 increased by 23% to $115.1 million ($79.58/bbl) from $93.7 million ($74.48/bbl) in the same period of 2011.  Revenue for the third quarter of 2012 represented 73% of the Brent oil price of $110/bbl.  Revenue for the nine month 2012 period totalled $316.3 million ($80.21/bbl), an increase of 26% from $251.6 million ($73.26/bbl) for the same period of 2011.
  • Royalties to the Albanian Government and related entities were $23.3 million and $18.5 million for the third quarter of 2012 and 2011, respectively (both representing 20% of total revenue).  Total royalties were $59.6 million and $45.3 million for the nine months ended September 30, 2012 and 2011, respectively.
  • Operating, sales and transportation costs in the third quarter of 2012, originating from Albanian-based companies and their employees, were $33.6 million, compared with $30.3 million for the third quarter of 2011.
  • The Company recorded net operating income (netback) of $58.2 million ($40.23/bbl) in the third quarter of 2012, an increase of 30% compared to $44.9 million ($35.71/bbl) in the same period of 2011.  For the nine months ended September 30, 2012, net operating income totalled $158.9 million ($40.29/bbl), a 20% increase from $132.0 million ($38.43/bbl) for the same period in 2011.
  • Funds generated from operations for the third quarter of 2012 were $48.3 million, a 15% increase compared to $42.1 million for the third quarter of 2011.  For the nine months ended September 30, 2012, funds generated from operations were $139.5 million as compared to $115.3 million for the nine months ended September 30, 2011. Included in funds generated from operations is a payment of $3.9 million for a financial commodity contract in August 2012.
  • Capital expenditures in the third quarter of 2012 were $53.5 million.  The Company drilled 34 wells during the quarter, comprised of 31 horizontal wells, one lateral re-drill sidetrack well, and two core wells in the southern area of the field.  Re-activation and re-completion work continued during the quarter.  During the same period of 2011, capital expenditures were $65.1 million.  For the nine months ended September 30, 2012, capital expenditures totalled $168.9 million, a reduction of 9% from $186.5 million for the comparable 2011 period.
  • During the third quarter of 2012, Bankers participated in the bid evaluation process for the privatization of the Albanian national oil company "Albpetrol Sh.A".  Although Bankers' participation was unsuccessful, the winning bid value of EUR 850 million attributed to Albpetrol's assets enhances Bankers oilfields' valuation and also demonstrates the Company's commitment to expand its business activities in Albania.
  • At September 30, 2012, total deposits and prepaid expenses were $29.2 million compared to $17.5 million at the end of December 2011, of which $16.6 million and $1.2 million, respectively, is paid to the Albanian court as deposits for procedure purposes on several legal cases.  The recoverability of these amounts is dependent on the outcome of these cases.  As of September 30, 2012, these amounts were considered recoverable.
  • The Company is in the process of challenging assessments from the Albanian Government Tax Director negating the previous exemption relief from carbon and circulation taxes on diluent imports.  These assessments represent a total of $15 million covering the last five years. The Company was successful in setting aside a recently introduced separate excise tax assessment amounting to $8 million on the Company's importation and use of diluent.  Other audits have also resulted in an additional assessment of previously exempted Value Added Taxes for some of Bankers' subcontractors.  Bankers has urged the Government of Albania to re-consider its position before proceeding with implementation of this assessment and is hopeful that these contractual exemptions will continue to be applied.
  • The Company continues to maintain a strong financial position at September 30, 2012 with cash of $40.1 million and working capital of $106.5 million.  Working capital for December 31, 2011 and September 30, 2011 was $80.3 million and $73.5 million, respectively.

Financial Update

Bankers has commenced discussions with EBRD and IFC, its reserve-based lenders, for an increase to its $110 million credit facility and a term extension that would extend existing repayments, currently scheduled to commence in October 2013.  The existing 2009 facility was based on 2008 year-end reserves; subsequent reserve increases have significantly expanded the Company's borrowing base.

Operational Update and Outlook

The average fourth quarter 2012 production to date from the Patos-Marinza oilfield in Albania was 16,100 barrels of oil per day ("bopd"), 3% higher than the third quarter average.

The Company has made several improvements to address operational challenges associated with mature heavy oilfield development including interference from old well bores, sand production, and water disposal capacity. Five (5) previously drilled wells that were shut-in due to liner failure in late 2011 have been re-drilled with a lateral sidetrack through the cased section of the wellbore and a new higher grade steel liner with redesigned slot configuration for additional strength has been run in the new lateral legs. The wells were successfully completed and are currently producing at a cumulative production rate of 500 bopd (average of 100 bopd per well). Additional candidate wells are being prepared for lateral re-drilling and installation of improved tubulars with three (3) re-drill sidetracks planned for the remainder of the fourth quarter and several more in the first half of next year to restore shut-in production from similar wells that have demonstrated good production capability, but are restricted due to liner failure concerns.

The Company continues to be pleased with the results of the horizontal drilling program, along with the results of lateral section re-drills initiated in the third quarter and continuing into the fourth quarter and first part of 2013.

For additional information, please see an updated version of the Company's November corporate presentation on www.bankerspetroleum.com.

Bankers Petroleum is expanding and has several exciting career opportunities available for both Calgary and Albania.  Please visit our website for full details on these career opportunities and to see how to apply.

BANKERS PETROLEUM LTD.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited, expressed in thousands of US dollars, except per share amounts)
      Three months ended
September 30
  Nine months ended
September 30
      2012   2011   2012   2011
                   
Revenues   $ 115,054 $ 93,650 $ 316,309 $ 251,570
Royalties     (23,259)   (18,457)   (59,627)   (45,274)
      91,795   75,193   256,682   206,296
Unrealized gain (loss) on financial commodity contracts     (1,085)   4,998   (4,050)   2,982
      90,710   80,191   252,632   209,278
                   
Operating expenses     20,229   17,328   56,699   43,562
Sales and transportation expenses     13,407   12,967   41,101   30,758
General and administrative expenses     3,999   3,536   11,617   9,974
Depletion and depreciation      15,644   9,591   43,388   26,983
Share-based payments     1,953   2,515   7,636   9,487
      55,232   45,937   160,441   120,764
      35,478   34,254   92,191   88,514
                   
Net finance expense     3,732   146   8,449   4,050
                   
Income before income tax     31,746   34,108   83,742   84,464
Deferred income tax expense     (19,472)   (20,412)   (52,450)   (48,749)
Net income for the period     12,274   13,696   31,292   35,715
                   
Other comprehensive income (loss)                  
  Currency translation adjustment     820   (2,626)   821   (373)
Comprehensive income for the period   $ 13,094 $ 11,070 $ 32,113 $ 35,342
                   
Basic earnings per share   $ 0.049 $ 0.055 $ 0.124 $ 0.145
                   
Diluted earnings per share   $ 0.048 $ 0.054 $ 0.123 $ 0.140
                   

BANKERS PETROLEUM LTD.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited, expressed in thousands of US dollars)
 
ASSETS
              September 30
2012
  December 31
2011
Current assets                   
  Cash and cash equivalents            $ 21,695   $ 49,013
  Restricted cash             18,417    5,000
  Accounts receivable             75,646    56,006
  Inventory             11,912    14,412
  Deposits and prepaid expenses             29,162    17,463
  Financial commodity contracts             2    3,684
              156,834    145,578
Non-current assets                   
  Financial commodity contract             3,530    -
  Property, plant and equipment             649,653    515,638
            $ 810,017  $ 661,216
 
LIABILITIES
Current liabilities                 
   Accounts payable and accrued liabilities         $ 48,808   $  52,109
   Current portion of long-term debt           1,489    13,187
            50,297    65,296
Non-current liabilities                 
  Long-term debt           97,016    46,692
  Decommissioning obligation           15,360    13,561
  Deferred tax liabilities           175,437     122,988
            338,110    248,537
 
SHAREHOLDERS' EQUITY
Share capital              332,450    318,021
Warrants             -    1,540
Contributed surplus             63,877    49,651
Currency translation reserve             7,230    6,409
Retained earnings             68,350    37,058
              471,907    412,679
            $ 810,017  $ 661,216
                   



BANKERS PETROLEUM LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, expressed in thousands of US dollars)
                 
  Three months ended
September 30
  Nine months ended
September 30
    2012   2011   2012   2011
Cash provided by (used in):                
Operating activities                
  Net income for the period $ 12,274 $ 13,696 $ 31,292 $ 35,715
  Depletion and depreciation   15,644   9,591   43,388   26,983
  Amortization of deferred financing costs   -   -   -   734
  Accretion of long-term debt   1,239   845   3,565   1,593
  Accretion of decommissioning obligation   211   115   608   309
  Unrealized foreign exchange (gain) loss   328   (77)   448   1,267
  Deferred income tax expense   19,472   20,412   52,450   48,749
  Share-based payments   1,953   2,515   7,636   9,487
  Unrealized (gain) loss on financial commodity contracts   1,085   (4,998)   4,050   (2,982)
  Cash premiums paid for financial commodity contracts   (3,898)   -   (3,898)   (6,588)
    48,308   42,099   139,539   115,267
  Change in non-cash working capital   (16,153)   (15,352)   (28,767)   (18,011)
    32,155   26,747   110,772   97,256
Investing activities                
  Additions to property, plant and equipment   (53,526)   (65,147)   (168,859)   (186,465)
  Restricted cash   (13,417)   -   (13,417)   (5,000)
  Change in non-cash working capital   736   5,095   (3,373)   15,637
    (66,207)   (60,052)   (185,649)   (175,828)
Financing activities                
  Issue of shares for cash   -   54   12,177   5,347
  Financing costs   -   -   (750)   (30)
  Increase in long-term debt   290   6,579   36,107   14,519
  Share issue costs   -   (167)   -   (167)
    290   6,466   47,534   19,669
Foreign exchange gain (loss) on cash and cash equivalents   160   (1,347)   25   (973)
Decrease in cash and cash equivalents   (33,602)   (28,186)   (27,318)   (59,876)
Cash and cash equivalents, beginning of period   55,297   74,929   49,013   106,619
Cash and cash equivalents, end of period $ 21,695 $ 46,743 $ 21,695 $ 46,743
                 
Interest paid $ 253 $ 197 $ 1,975 $ 1,349
Interest received $ 43 $ 80 $ 321 $ 443
                   

BANKERS PETROLEUM LTD.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(Unaudited, expressed in thousands of US dollars, except number of common shares)
    Number of
common
shares
  Share
capital
  Warrants   Contributed
surplus
  Currency
translation
reserve
  Retained
earnings
  Total
Balance at December 31, 2010   244,794,990 $ 309,379 $ 1,597 $ 28,135   $ 6,094 $ 1,062 $ 346,267
                                  
Share-based payments   -     -   -   19,166     -   -    19,166
Options exercised   2,721,779     8,303   -   (2,956)     -   -    5,347
Share issue costs   -     (167)   -   -     -   -    (167)
Net income for the period   -     -   -   -     -   35,715    35,715
Currency translation adjustment   -     -   -   -     (373)   -    (373)
Balance at September 30, 2011   247,516,769 $ 317,515 $ 1,597   $ 44,345   $ 5,721 $ 36,777  $ 405,955
                                  
Share-based payments   -     -   -   5,319     -   -    5,319
Options exercised   6,667     45   -   (13)     -   -    32
Warrants exercised   174,333     461   (57)   -     -   -    404
Net income for the period   -     -   -   -     -   281    281
Currency translation adjustment   -     -   -   -     688   -    688
Balance at December 31, 2011   247,697,769 $ 318,021 $ 1,540  $ 49,651   $ 6,409 $ 37,058  $ 412,679
                                  
Share-based payments   -     -   -   14,938     -   -   14,938
Options exercised   553,945     1,833   -   (719)     -   -   1,114
Warrants exercised   4,672,991     12,596   (1,533)   -     -   -   11,063
Warrants expired   -     -   (7)   7     -   -   -
Net income for the period   -     -   -   -     -   31,292   31,292
Currency translation adjustment   -     -   -   -     821   -   821
Balance at September 30, 2012   252,924,705 $ 332,450 $ -   $ 63,877   $ 7,230 $ 68,350 $ 471,907
                                     

Caution Regarding Forward-looking Information

Information in this news release respecting matters such as the expected future production levels from wells, future prices and netback, work plans, anticipated total oil recovery of the Patos-Marinza and Kuçova oilfields constitute forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. 

Exploration for oil is a speculative business that involves a high degree of risk. The Company's expectations for its Albanian operations and plans are subject to a number of risks in addition to those inherent in oil production operations, including: that Brent oil prices could fall resulting in reduced returns and a change in the economics of the project; availability of financing; delays associated with equipment procurement, equipment failure and the lack of suitably qualified personnel; the inherent uncertainty in the estimation of reserves; exports from Albania being disrupted due to unplanned disruptions; and changes in the political or economic environment.

Production and netback forecasts are based on a number of assumptions including that the rate and cost of well reactivations and well recompletions of the past will continue and success rates and production rates will be similar to those rates experienced for previous well recompletions and reactivations; continued availability of the necessary equipment, personnel and financial resources to sustain the Company's planned work program; continued political and economic stability in Albania; the existence of reserves as expected; the continued release by Albpetrol of areas and wells pursuant to the Plan of Development and Addendum; the absence of unplanned disruptions; the ability of the Company to successfully drill new wells and bring production to market; and general risks inherent in oil and gas operations.

Forward-looking statements and information are based on assumptions that financing, equipment and personnel will be available when required and on reasonable terms, none of which are assured and are subject to a number of other risks and uncertainties described under "Risk Factors" in the Company's Annual Information Form and Management's Discussion and Analysis, which are available on SEDAR under the Company's profile at www.sedar.com.

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information and forward looking statements.

About Bankers Petroleum Ltd.

Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves. In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oilfield and has a 100% interest in the Kuçova oilfield, and a 100% interest in Exploration Block F.  Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.

SOURCE Bankers Petroleum Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...