Welcome!

.NET Authors: Lori MacVittie, Yeshim Deniz, Ivan Antsipau, Liz McMillan, Michael Bushong

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
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.
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...
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.
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.
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.
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.
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.
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.
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.
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!
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.
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.
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.
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...
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...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
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. Download Slide Deck: ▸ Here
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. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.