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Elbit Systems Reports Third Quarter 2012 Results

Backlog of orders increased to $5.53 billion; Revenues at $677 million; Net income at $39.5 million; Diluted net earnings per share at $0.95

HAIFA, Israel, November 13, 2012 /PRNewswire/ --

Elbit Systems Ltd. (the "Company") (NASDAQ: ESLT, TASE: ESLT), the international defense electronics company, reported today its consolidated financial results for the third quarter ended September 30, 2012.

In this release, the Company is providing its usual US-GAAP results as well as additional non-GAAP financial data, which are intended to provide investors with a more comprehensive understanding of the Company's business results and trends. Unless otherwise stated, all financial data presented is US- GAAP financial data.

Management Comment:

Joseph Ackerman, President and CEO of Elbit Systems, commented: "I am encouraged by the third quarter results, which reflect improvements in some parameters, resulting in part from our ongoing cost-reduction and cost-effectiveness efforts. Concurrently, the increase in backlog reflects Elbit Systems' long-term strategy achievements in increasing our customer base".

Ackerman added: "We have recently been awarded a number of important projects in Asia- Pacific and Latin America, some in new fields and others in new countries. We will continue to increase our activity in these markets as well as in additional potential growing markets in order to balance the situation in other markets that currently are experiencing decreasing budgets. The third quarter results continue our trend of stability and I believe that Elbit Systems is well positioned and prepared for the challenges ahead".

Third quarter 2012 results:

Revenues were $677.5 million in the third quarter of 2012, as compared to $663.7 million in the third quarter of 2011. The main contributors to the Company's revenues were the Airborne and C4ISR systems areas of operations.  

Gross profit was $191.5 million (28.3% of revenues) in the third quarter of 2012, as compared to $204.1 million (30.8% of revenues) in the third quarter of 2011. The non-GAAP gross profit in the third quarter of 2012 was $196.6 million (29.0% of revenues), compared to $211.6 million (31.9% of revenues) in the third quarter of 2011.

Research and development expenses, net were $50.7 million (7.5% of revenues) in the third quarter of 2012, as compared to $55.5 million (8.4% of revenues) in the third quarter of 2011.

Marketing and selling expenses were $59.0 million (8.7% of revenues) in the third quarter of 2012, as compared to $58.4 million (8.8% of revenues) in the third quarter of 2011.  

General and administrative expenses were $32.7 million (4.8% of revenues) in the third quarter of 2012, as compared to $34.0 million (5.1% of revenues) in the third quarter of 2011. This continues the trend of reduction in general and administrative expenses we have experienced over several quarters, partially due to cost cutting and efficiency measures.

Operating Income was $49.0 million (7.2% of revenues), compared to $56.2 million (8.5% of revenues) in the third quarter of 2011. The non-GAAP operating income in the third quarter of 2012 was $61.0 million (9.0% of revenues), as compared to $70.3 million (10.6% of revenues) in the third quarter of 2011.

Financial expenses, net were $5.5 million in the third quarter of 2012, as compared to $3.1 million in the third quarter of 2011.

Taxes on income were $4.9 million (effective tax rate of 11.2%) in the third quarter of 2012, as compared to taxes on income of $9.8 million (effective tax rate of 18.2%) in the third quarter of 2011. The lower effective tax rate in the quarter was attributable mainly to adjustments related to tax positions taken during prior periods and to the mix of the tax rates in the various jurisdictions in which the Company's entities generate taxable income.

Equity in net earnings of affiliated companies and partnerships was $1.0 million (0.2% of revenues) in the third quarter of 2012, as compared to $4.0 million (0.6% of revenues) in the third quarter of 2011.

Net income attributable to non-controlling interests was $0.4 million in the third quarter of 2012, as compared to a net expense of $3.4 million in the third quarter of 2011.

Net income, attributable to the Company's ordinary shareholders, was $39.5 million (5.8% of revenues) in the third quarter of 2012, as compared to $36.5 million (5.5% of revenues) in the third quarter of 2011. The non-GAAP net income in the third quarter of 2012 was $49.4 million (7.3% of revenues), as compared to $56.4 million (8.5% of revenues) in the third quarter of 2011.

Diluted net earnings per shareattributable to the Company'sordinary shareholders were $0.95 for the third quarter of 2012, as compared with $0.85 for the third quarter of 2011. The non-GAAP diluted net earnings per share in the third quarter of 2012 were $1.18, as compared to $1.31 in the third quarter of 2011.

The Company's backlog of orders as of September 30, 2012 was $5,529 million, as compared with $5,465 million as of June 30, 2012 and $5,528 million as of December 31, 2011. Approximately 74% of the backlog relates to orders outside of Israel. Approximately 54% of the Company's backlog as of September 30, 2012 is scheduled to be performed during the fourth quarter of 2012 and in 2013.

Operating cash flow was $61.0 million during the first nine months of 2012, as compared to $11.2 million in the first nine months of 2011.

Non-GAAP financial data:

The following non-GAAP financial data is presented to enable investors to have additional information on the Company's business performance as well as a further basis for periodical comparisons and trends relating to the Company's financial results. The Company believes such data provides useful information to investors by facilitating more meaningful comparisons of the Company's financial results over time. Such non-GAAP information is used by the Company's management to make strategic decisions, forecast future results and evaluate the Company's current performance. However, investors are cautioned that, unlike financial measures prepared in accordance with GAAP, non-GAAP measures may not be comparable with the calculation of similar measures for other companies.  

The non-GAAP financial data includes reconciliation adjustments regarding non-GAAP gross profit, operating income, net income and diluted EPS. In arriving at non-GAAP presentations, companies generally factor out items such as those that have a non-recurring impact on the income statements, various non-cash items, significant effects of retroactive tax legislation and changes in accounting guidance and other items which, in management's judgment, are items that are considered to be outside of the review of core operating results.

In the Company's non-GAAP presentation, the Company made the following adjustments, in each or some of the applicable periods: (1) added back amortization of purchased intangible assets, (2) added back significant reorganization, restructuring and other related expenses, (3) added back impairment of investments, including impairment of auction rate securities, (4) subtracted gain from changes in holdings, including revaluation of the previously held shares at the acquisition date when a business combination is achieved in stages (step-up), (5) added back impairment loss from discontinued operations, (6) excluded the impact of the cessation of a program with a foreign customer and (7) excluded the income tax effects of the foregoing.

These non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations, as determined in accordance with GAAP, and that these measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures.  Investors should consider non-GAAP financial measures in addition to, and not as replacements for or superior to, measures of financial performance prepared in accordance with GAAP.


    Reconciliation of GAAP to Non-GAAP (Unaudited) Supplemental Financial Data:
    (U.S. Dollars in millions)
                                Nine Months       Three Months
                                   Ended              Ended        Year Ended
                                September 30       September 30     December 31
                                2012      2011     2012      2011         2011
    GAAP gross profit          576.8     590.3    191.4     204.1        732.0
    Amortization of
    purchased intangible
    assets                      15.6      23.0      5.2       7.5         30.9
    Cessation of program (*)       -         -        -         -         72.8
    Non-GAAP gross profit      592.4     613.3    196.6     211.6        835.7
    Percent of revenues        29.0%     31.0%    29.0%     31.9%        29.7%
    GAAP operating income      132.8     149.8     49.0      56.2        115.7
    Amortization of
    intangible assets           36.2      42.7     12.0      14.1         57.3
    Cessation of program (*)       -         -        -         -         72.8
    Non-GAAP operating
    income                     169.0     192.5     61.0      70.3        245.8
    Percent of revenues         8.3%      9.7%     9.0%     10.6%         8.7%
    GAAP net income
    attributable to Elbit
    Systems' shareholders      110.7     103.3     39.5      36.5         90.3
    Amortization of
    intangible assets           36.2      42.7     12.0      14.1         57.3
    Cessation of program (*)       -         -        -         -         72.8
    Impairment of
    investments                    -       0.5        -         -          0.5
    Gain from changes in
    holdings                   (2.3)         -        -         -            -
    Loss from discontinued
    operations, net              0.3       9.3      0.1       9.0          9.4
    Related tax benefits       (6.5)     (9.8)    (2.2)     (3.2)       (23.7)
    Non-GAAP net income
    attributable to
    Elbit Systems'
    shareholders               138.4     146.0     49.4      56.4        206.6
    Percent of revenues         6.8%      7.4%     7.3%      8.5%         7.3%
    Non-GAAP diluted net EPS    3.26      3.38     1.18      1.31         4.80

(*) Adjustment of expenses related to cessation of program, which resulted in write-off of inventories and other related costs.

Recent Events:

On August 13, 2012, the Company announced that the Company's Board of Directors accepted the request of Joseph Ackerman, the Company's President and CEO, to retire from his position on March 31, 2013, and the Board confirmed the appointment of Bezhalel (Butzi) Machlis as his successor.

On September 10, 2012, the Company announced that TOR - Advanced Flight Training, its partnership with Israel Aerospace Industries Ltd. established in order to perform the Israeli Air Force's future trainer program, reached an agreement with the Israel Ministry of Defense regarding a contract in a total amount of approximately $603 million. The Company's share in this contract is valued at $420 million of which approximately $110 million will be preformed over three years, and approximately $310 million will be preformed over approximately twenty years.    

On September 13, 2012, the Company announced that its Brazilian subsidiary AEL Sistemas S.A. was awarded an initial production order valued at $15 million as part of the Guarani Project.

On September 23, 2012, the Company announced that it was awarded a contract valued at $18.5 million for the establishment of a Mission Training Center (MTC) for fighter aircraft of a Latin American Air Force.

On October 2, 2012, the Company announced that it was awarded a contract from the Australian Defense Force for the supply of Battle Management Systems (BMS) for the Royal Australian Navy's landing craft.

On October 14, 2012, the Company announced that it was awarded two contracts from a Far Eastern country to supply defense systems at a total value of approximately $50 million.

On October 21, 2012, the Company announced that Elbit Systems of America, LLC, a wholly-owned subsidiary of Elbit Systems, was awarded a $17.5 million contract by The Boeing Company to redesign and upgrade the Apache Block III AH-64D Mission Processor over a five-year period.

On October 24, 2012, the Company announced that Ares Aeroespacial e Defesa S.A., its Brazilian subsidiary, was awarded an initial production order valued at approximately $25 million to supply 12.7/7.62mm Remote Controlled Weapon Stations (RCWS) to the Brazilian Army.

On November 8, 2012, the Company announced that its subsidiary, Elbit Systems Electro-Optics - Elop Ltd., was compelled to file a lawsuit, in the amount of approximately $74 million, against the Government of Israel, for damages and expenses caused in connection with the cancellation of export licenses for a project of a foreign customer.


The Board of Directors declared a dividend of $0.30 per share for the third quarter of 2012. The dividend's record date is November 20, 2012, and the dividend will be paid on December 3, 2012, net of taxes and levies, at the rate of 25%.  

Conference Call:

The Company will also be hosting a conference call later today, November 13, 2012 at 10:00am Eastern Time. On the call, management will review and discuss the results and will be available to answer questions.

To participate, please call one of the teleconferencing numbers that follow. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Numbers: 1-888-407-2553

UK Dial-in Number: 0-800-917-9141

ISRAEL Dial-in Number: 03-918-0644

INTERNATIONAL Dial-in Number:  +972-3-918-0644

At 10:00am Eastern Time; 7:00am Pacific Time; 3:00pm UK Time; 5:00pm Israel Time

This call will also be broadcast live on Elbit Systems' web-site at http://www.elbitsystems.com. An online replay will be available from 24 hours after the call ends.

Alternatively, for two days following the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are:

1-888-782-4291 (US) or +972-3-925-5904 (Israel and International).

About Elbit Systems:

Elbit Systems Ltd. is an international defense Electronics Company engaged in a wide range of programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems ("UAS"), advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services.

For additional information, visit: http://www.elbitsystems.com.


Consolidated balance sheet

Consolidated statements of income

Condensed consolidated statements of cash flow

Consolidated revenue distribution by areas of operation and by geographical regions


This press release contains forward looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact.  Forward Looking Statements are based on management's expectations, estimates, projections and assumptions.  Forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended.  These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.  Therefore, actual future results, performance and trends may differ materially from these forward looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.


                            ELBIT  SYSTEMS LTD.
                        CONSOLIDATED BALANCE SHEETS
                      (In thousands of U.S. Dollars)
                                                            30,      December 31,
                                                           2012         2011
                                                        Unaudited     Audited
    Current assets:
    Cash and cash equivalents                             144,929      202,577
    Short-term bank deposits and available for sale
    securities                                             74,369       21,693
    Trade and unbilled receivables, net                   695,420      669,524
    Other receivables and prepaid expenses                158,181      180,024
    Inventories, net of customers advances                782,985      761,269
    Total current assets                                1,855,884    1,835,087
    Investments in affiliated companies, partnership
    and other companies                                   117,622      110,159
    Long-term trade and unbilled receivables              173,187      162,762
    Long-term bank deposits and other receivables           7,382       12,215
    Deferred income taxes, net                             33,483       36,130
    Severance pay fund                                    287,062      283,477
                                                          618,736      604,743
    Property, plant and equipment, net                    504,802      517,608
    Goodwill and other intangible assets, net             728,228      763,072
    Total assets                                        3,707,650    3,720,510
    Liabilities and Equity
    Short-term bank credits and loans                           -        2,998
    Current maturities of long-term loans and Series
    A Notes                                               139,811      127,627
    Trade payables                                        240,445      316,264
    Other payables and accrued expenses                   717,066      743,866
    Customer advances in excess of costs incurred on
    contracts in progress                                 408,464      407,222
                                                        1,505,786    1,597,977
    Long-term loans, net of current maturities            174,722      302,255
    Series A Notes, net of current maturities             387,468      235,319
    Employee benefit liabilities                          384,699      394,115
    Deferred income taxes and tax liabilities, net         50,358       48,467
    Customer advances in excess of costs incurred on
    contracts in progress                                 153,158      154,696
    Other long-term liabilities                            66,682       59,961
                                                        1,217,087    1,194,813
    Elbit Systems Ltd.'s equity                           952,880      898,337
    Non-controlling interests                              31,897       29,383
    Total equity                                          984,777      927,720
    Total liabilities and equity                        3,707,650    3,720,510

                               ELBIT  SYSTEMS LTD.
          (In thousands of U.S. Dollars, except for share and per share amounts)
                                                      Three Months     Ended
                                 Nine Months Ended       Ended       December
                                   September 30       September 30      31
                                   2012      2011    2012     2011     2011
                                              Unaudited                Audited
    Revenues                    2,044,690 1,975,602 677,470  663,712 2,817,465
    Cost of revenues            1,467,863 1,385,287 486,023  459,577 2,085,451
    Gross profit                  576,827   590,315 191,447  204,135   732,014
    Operating expenses:
    Research and development,
    net                           165,114   165,136  50,703   55,533   241,092
    Marketing and selling         180,325   170,829  59,044   58,401   235,909
    General and administrative     98,580   104,587  32,677   33,992   139,349
                                  444,019   440,552 142,424  147,926   616,350
    Operating income              132,808   149,763  49,023   56,209   115,664
    Financial expenses, net       (15,524)  (23,120) (5,456)  (3,108) (13,569)
    ther income, net                   76     1,355     260      981     1,909
    Income before income taxes    117,360   127,998  43,827   54,082   104,004
    Taxes on income                14,203    20,565   4,890    9,846    13,624
                                  103,157   107,433  38,937   44,236    90,380
    Equity in net earnings of
    affiliated companies and
    partnership                     8,866    10,626   1,049    4,025    15,377
    Income from continuing
    operations                    112,023   118,059  39,986   48,261   105,757
    Loss from discontinued
    operations, net                  (519)  (15,630)    (93) (15,180)  (15,977)
    Net income                    111,504   102,429  39,893   33,081    89,780
    Less: net loss (income)
    attributable to
    non-controlling interests        (835)      901    (369)   3,425       508
    Net income attributable to
    Elbit Systems Ltd.'s
    shareholders                  110,669   103,330  39,524   36,506    90,288
    Earnings per share
    attributable to Elbit
    Systems Ltd.'s ordinary
    Basic net earnings per
    Continuing operations            2.63      2.63    0.95     1.06      2.33
    Discontinued operations         (0.01)    (0.22)  (0.00)   (0.21)    (0.22)
    Total                            2.62      2.41    0.95     0.85      2.11
    Diluted net earnings per
    Continuing operations            2.62      2.61    0.95     1.06      2.31
    Discontinued operations         (0.01)    (0.22)  (0.00)   (0.21)    (0.22)
    Total                            2.61      2.39    0.95     0.85      2.09
    Weighted average number of
    shares used in
    Computation of basic
    earnings per share             42,296    42,774  41,693   42,809    42,764
    Weighted average number of
    shares used in
    Computation of diluted
    earnings per share             42,374    43,179  41,693   43,074    43,131
    Amounts attributable to
    Elbit Systems Ltd.'s common
    Income from continuing
    operations, net of income
    tax                           110,977   112,614  39,579   45,523    99,778
    Discontinued operations,
    net of income tax                (308)   (9,284)    (55)  (9,017)   (9,490)
    Net income attributable to
    Elbit Systems Ltd.'s
    shareholders                  110,669   103,330  39,524   36,506    90,288


                                 ELBIT  SYSTEMS LTD.
                             (In thousands of U.S. Dollars)
                                              Nine Months Ended        Ended
                                                September 30,           31,
                                              2012            2011     2011
                                                  Unaudited           Audited
    Net income                              111,504         102,429     89,780
    Adjustments to reconcile net income
    to net cash provided by operating
    Depreciation and amortization           103,300         112,007    150,618
    Write-off impairment and discontinued
    operations, net                             519          15,630     15,977
    Stock based compensation                    494             831      1,996
    Amortization of Series A Notes
    discount and related issuance costs       1,215             330        422
    Deferred income taxes and reserve,
    net                                       5,485         (12,183)    (8,777)
    Gain on sale of property, plant and
    equipment                                  (556)         (1,088)    (1,645)
    Loss (gain) on sale of investment          (994)            520      2,189
    Equity in net loss (earnings) of
    affiliated companies and partnership,
    net of dividend received(*)              (2,454)          3,679       (270)
    Changes in operating assets and
    liabilities, net of amounts acquired:
    Increase in short and long-term trade
    receivables and prepaid expenses        (17,442)        (76,827)   (65,062)
    Increase in inventories, net            (21,716)       (123,555)   (95,363)
    Increase (decrease) in trade
    payables, other payables and accrued
    expenses                               (105,834)        (68,129)    17,225
    Severance, pension and termination
    indemnities, net                        (12,176)         (5,056)     1,879
    Increase (decrease) in advances
    received from customers                    (296)         62,594     81,946
    Net cash provided by operating
    activities                               61,049          11,182    190,915
    Purchase of property, plant and
    equipment                               (59,753)        (92,484)  (121,977)
    Acquisition of subsidiaries and
    business operations                           -         (12,173)   (12,173)
    Investments in affiliated companies
    and other companies                        (507)        (13,401)   (13,555)
    Proceeds from sale of property, plant
    and equipment                             6,106          11,232     15,059
    Proceeds from sale of investments           705               -        329
    Investment in long-term deposits, net       184          23,102     39,787
    Investment in short-term deposits and
    available for sale securities           (49,008)         36,347     37,464
    Net cash used in investing activities  (102,273)        (47,377)   (55,066)
    Proceeds from exercise of options           739           2,974      3,833
    Purchase of non-controlling interests         -         (71,000)   (71,000)
    Repayment of long-term loans           (195,624)        (66,930)   (73,666)
    Proceeds from long-term loans            53,038         139,893    172,303
    Proceeds from issuance of Series A
    Notes                                   246,000               -          -
    Purchase of treasury shares             (26,006)              -    (10,101)
    Repayment of Series A Notes and
    convertible debentures                  (53,530)        (29,998)   (29,998)
    Purchase of convertible debentures of
    a subsidiary                                  -          (2,121)    (2,121)
    Dividends paid                          (38,043)        (46,235)   (61,633)
    Tax benefit in respect of options
                                                  -               -        169
    Change in short- term bank credit and
    loan, net                                (2,998)         49,782    (12,117)
    Net cash used in financing activities   (16,424)        (23,635)   (84,331)
    CASH EQUIVALENTS                        (57,648)        (59,830)    51,518
    BEGINNING OF THE PERIOD                 202,577         151,059    151,059
    OF THE PERIOD                           144,929          91,229    202,577
    * Dividend received from affiliated
    companies and partnership                 6,412          14,107     15,107




                              Nine Months Ended             Three Months Ended
                                September 30                   September 30
                            2012          2011             2012          2011
                        $ millions  %  $ millions  %    $ millions  %  $ millions  %
    Airborne systems      793.5   38.8    695.2  35.2      267.9  39.5    235.6  35.4
    Land systems          264.3   12.9    284.1  14.4      105.5  15.6    100.9  15.2
    C4ISR systems         676.7   33.1    704.7  35.7      197.8  29.2    235.4  35.5
    Electro-optics        211.5   10.4    197.9  10.0       66.8   9.9     60.8   9.2
    Other (mainly
    engineering and
    services)              98.7    4.8     93.7   4.7      39.5    5.8     31.0   4.7
    Total               2,044.7    100  1,975.6   100     677.5    100    663.7   100


                                Nine Months Ended           Three Months Ended
                                September 30                   September 30
                            2012          2011           2012          2011
                       $ millions  %  $ millions  %    $ millions  %  $ millions  %
    Israel                355.4  17.4    511.4  25.9    104.8    15.5    155.5  23.4
    United States         642.1  31.4    652.1  33.0    229.0    33.8    225.0  33.9
    Europe                367.0  18.0    352.9  17.9    125.6    18.5    111.9  16.9
    Other countries       680.2  33.2    459.2  23.2    218.1    32.2    171.3  25.8
    Total               2,044.7   100  1,975.6   100    677.5     100    663.7   100

Company Contact:   
Joseph Gaspar, Executive VP & CFO
Tel:  +972-4-8316663
[email protected] 

Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
[email protected]
Elbit Systems Ltd.

IR Contact:
Ehud Helft
Kenny Green
CCG Investor Relations
Tel: 1-646-201-9246
[email protected]

SOURCE Elbit Systems Ltd

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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, whic...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
We are given a desktop platform with Java 8 or Java 9 installed and seek to find a way to deploy high-performance Java applications that use Java 3D and/or Jogl without having to run an installer. We are subject to the constraint that the applications be signed and deployed so that they can be run in a trusted environment (i.e., outside of the sandbox). Further, we seek to do this in a way that does not depend on bundling a JRE with our applications, as this makes downloads and installations rat...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...