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China Yida Announces Third Quarter 2012 Results

FUZHOU, China, Nov. 13, 2012 /PRNewswire/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a diversified tourism and entertainment enterprise in China, today announced financial results for the third quarter ended September 30, 2012.

Third Quarter 2012 Results

  • Total net revenue was $6.3 million, a decrease of 43.6% compared to $11.2 million in the year-ago period
  • Net revenue from the tourism business was $3.2 million, an increase of 9.3% year over year, with a gross margin of 48.7%
  • Net revenue from the media business was $3.2 million, a decrease of 61.9% year over year, with a gross margin of 61.0%
  • Gross profit was $3.5 million, a decrease of 54.8% compared to $7.7 million in the year-ago period
  • Operating income was $0.3 million compared to $4.9 million in the third quarter of 2011.
  • Net loss attributable to China Yida Holding Company was $1.0 million, compared to net income attributable to China Yida Holding Company of $3.2 million in the year-ago period
  • Fully diluted loss was $0.05 per share compared to earnings $0.16 per share in the year-ago period

"We saw a solid level of tourist traffic to two of our key tourist destinations in the third quarter which drove a modest rise in revenue in our tourism segment.  However, the quarter marked the expected contraction of our media business, which experienced the full effects of regulations that seriously hamper the means and mode of advertising.  As a result, we reported a loss in the quarter and anticipate an eventual further move away from this business segment.  Most important, we are committed to our vision of creating a preëminent tourist company and therefore continue to focus our efforts on developing an array of attractive tourist destinations," commented Dr. Minhua Chen, Chairman and Chief Executive Officer of China Yida.

"We are especially pleased to see that visitor traffic to Great Golden Lake has stabilized with the site's full recovery and that visitor traffic to Yunding Park has begun to grow.  Further, we believe that both tourist destinations have substantially greater visitor potential once ongoing road access issues are resolved," CEO Chen continued. "The development of our three new properties is largely on schedule and we expect to commence operation of these new tourist destinations during the first half of 2013.  Given that the fundamentals in China's tourism market remain strong, we are confident that our tourism segment can achieve continued growth and that our strategy of developing distinctive and varied tourist destinations will succeed in the long run."

Third Quarter 2012 Results

Total consolidated net revenue for the Company's two business segments, Tourism and Media, was $6.3 million in the third quarter of 2012, a decrease of 43.6% as compared to $11.2 million in the year-ago quarter. A review of each business segment follows.

Tourism Business

Net revenue from the tourism business was $3.2 million, an increase of 9.3% as compared to $2.9 million in net revenue in the third quarter of 2011. The increase was primarily attributable to an increasing number of tourists visiting both the Great Golden Lake and Yunding Recreational Park tourist destinations, partially offset by the continued downturn at the Hua'An Tulou site. Gross margin from the tourism business was 48.7% in the third quarter, compared to 51.8% in the year-ago quarter, but it improved sequentially from 43.8% in the second quarter of 2012.

The total number of visitors that entered the Great Golden Lake during the third quarter of 2012 was approximated 114,000 as compared to 110,000 in the same period of last year, and up sequentially from 86,000 in the second quarter of 2012. The site generated approximately $2.0 million in revenue in the third quarter, up 9.7% from the comparable year-ago quarter. The Company believes that visitor traffic to the Great Golden Lake is gradually improving and expects additional potential for growth once a new road that affords main access to the site is completed.

Yunding Recreational Park attracted 34,000 visitors in the third quarter of 2012, a solid increase from the 14,000 visitors in the third quarter of 2011.  As compared to the second quarter of 2012, visitor traffic decreased by 14,000 as a result of ongoing road construction and unfavorable weather conditions. The site generated approximately $0.9 million in revenue in the third quarter of 2012, more than double the amount generated in the comparable year-ago quarter. The increase in visitors and revenue at Yunding for the quarter is primarily attributable to enhanced marketing efforts of the Company's travel agency.

The Hua'An Tulou tourist destination received approximately 18,000 visitors, compared to 50,000 visitors in the comparable year-ago quarter, and 20,000 visitors in the second quarter of 2012. The decrease was mainly due to tough market competition from two nearby Tulou clusters in Fujian Province. Hua'An Tulou generated approximately $0.3 million in revenue in the third quarter of 2012, a decrease from $0.7 million in the comparable year-ago quarter.

Media Business

Net revenue from the media business in the third quarter of 2012 was $3.2 million, a decrease of 61.9% from the $8.3 million posted in the comparable period a year ago. Fujian Education Television Channel ("FETV") experienced a 60.3% fall in revenue in the quarter year over year to an estimated $3.1 million due to actions by domestic media authorities restricting the broadcasting manner and content of TV advertising. The restricting content of TV advertising included shopping programs, min ads and certain medical advertisements. Revenue from the Company's train media business was an estimated $0.1 million for the third quarter of 2012 as compared to $0.6 million for the third quarter of 2011, as a majority of advertising clients terminated their purchases due to the absence of an automatic broadcasting and monitoring system. The decrease in revenue is in line with the Company's expectation and further decreases may occur in the next few quarters.

Gross margin for the media business was 61.0% for the third quarter of 2012, as compared to 74.3% in the comparable year-ago quarter. The decrease in gross margin was primarily attributable to the substantial fall-off in revenue at FETV.

Consolidated Operating Results

Gross profit for China Yida's consolidated operations was $3.5 million in the third quarter of 2012, representing a gross profit margin of 54.8%, compared to gross profit of $7.7 million and a gross margin of 68.5% for the comparable period of 2011.

Total operating expenses increased by 12.8% to $3.1 million in the third quarter of 2012, compared with $2.8 million in the third quarter of 2011. This increase was primarily attributable to a 31.8% jump in selling expenses, which increased from $1.6 million to $2.1 million, due to higher marketing and operating expenses at Yunding Park compared to the same period last year. Operating income decreased by 93.0% to $0.3 million in the third quarter of 2012 compared with $4.9 million in the year ago quarter.

Net loss attributable to China Yida Holding Company for the third quarter of 2012 was $1.0 million, or $0.05 per diluted share, as compared with net income of $3.2 million, or $0.16 per diluted share, for the third quarter of 2011.

Nine Month Results

Total net revenue decreased by 36.8% to $21.5 million for the nine months ended September 30, 2012, compared with $34.0 million for the nine months ended September 30, 2011. Net revenue from advertising decreased by 47.0% to $14.1 million, compared with $26.7 million for the nine months ended September 30, 2011. Net revenue from the tourism business increased by 0.6% to $7.3 million for the nine months ended September 30, 2012.

Gross profit for the first nine months of 2012 decreased 45.1% year over year to $12.9 million from $23.4 million in the first nine months of 2011. The gross margin for the first nine months of 2012 was 59.9% as compared to 69.0% in the year-ago period. Operating income decreased by 71.2% to $4.7 million in the first nine months of 2012, compared with $16.2 million in the first nine months of 2011.

Net income attributable China Yida Holding Company for the nine months ended September 30, 2012 was $1.3 million, or $0.06 per fully diluted share, as compared to net income of $10.7 million, or $0.54 per share, for the comparable period of 2011.

Financial Condition

As of September 30, 2012, the Company had $8.4 million in cash and cash equivalents, up from $5.7 million as of fiscal year end 2011. Working capital was a negative $4.4 million due to an increased level of both short-term loans and the current portion of long-term debt. As of September 30, 2012, the Company had total debt of $40.8 million out of which short term loans comprise $4.1 million and the current portion of its long-term debt is $6.9 million.  Shareholders' equity was $159.4 million at the end of the third quarter of 2012 as compared to $157.9 million at the end of 2011.

China Yida generated $0.6 million in cash flow from operating activities in the third quarter of 2012 and spent $4.5 million on investing activities. The Company received $1.6 million in proceeds from short-term bank loans in the third quarter of 2012 to fund the development of its tourism destinations.

Business Update

The Company experienced reasonably good attendance at its Great Golden Lake and Yunding Recreation Park tourist destinations in the third quarter of 2012 attributable to the summer tourism season and despite still-difficult road access to both sites. Tourist traffic to the Great Golden Lake increased by approximately 32.6% from the previous quarter although the road to Shangqing River is still under construction and visitors must now use a rougher, more difficult road.  It is anticipated that the road construction by the local government will be completed in the first half of 2013.  The natural view and tourism facilities at the Great Golden Lake destination have now fully recovered from the severe summer floods of 2010. 

Yunding Recreational Park continued to see strong progress as tourist traffic was up in the third quarter of 2012, almost two and a half times the level seen in the comparable year-ago quarter.  However, tourist traffic is still below that of Yunding's designed capacity since the site is also hampered by poor road access.  However, the new expressway connecting Fuzhou to Yongtai Town is being built by the local government and is expected to be completed by the first half of 2013.  In the meantime, Management has been enhancing its marketing efforts as well as developing second-stage entertainment attractions to further enrich tourists' visiting experience. The Company plans to put its recently constructed guest cottages into operation in mid-November of 2012 which will enable visitors to extend their stay at Yunding. The two new restaurants in Gorges are currently in operation and valley rafting facilities began trial operation at the site in conjunction with the season from June to October.  In addition, the camping center and shopping plaza are both under development and are expected to roll out in the first half of 2013.

The increase in tourism segment revenue at both the Great Golden Lake and Yunding Recreational Park was partially offset by the decrease in revenue at the Hua'An Tulou tourism destination, attributable to strong competition among the homogeneous tourism destinations, Nanjing Tulou Cluster and Yongding Tulou Cluster.  The Company plans upon utilizing its travel agency to promote the site as well as offer more promotions in Xiamen City.  China Yida's tourism marketing center designs and executes proactive marketing strategies that include developing creative and constructive relationships with travel agencies and explores new markets for its tourist destinations.

As of September 30, 2012, China Yida has made significant progress in the development of its three new tourism destinations, Ming Dynasty Entertainment World in Bengbu City, Anhui province, China Yang-sheng (Nourishing Life) Paradise in Zhangshu City, Jiangxi province, and the City of Caves in Fenyi City, Jiangxi province.  The development and construction of these new tourist destinations are in line with the Company's schedule. In the first nine months of 2012, the Company invested approximately $4.6 million in the acquisition of land use rights, approximately $9.5 million in the construction of tourism facilities and $1.2 million in the planning and design for these new tourist destinations.

Management believes that it can finance all of its ongoing capital expenditures from cash on hand, cash from operations and bank loans secured against its land bank. China Yida carefully reviews its capital expenditures on a regularly basis. Although interest expense were significant in the third quarter, the Company still generated over $10 million in operating cash flow as of September 30, 2012, which it believes is sufficient to meet its repayment obligations. In addition, the Company has ample credit facilities because local banks remain positive as to the Company's future prospects.

Entering 2012, new construction and development was adversely affected by more-than-normal rainy days. However, the Company will undertake its best efforts to complete Phase I construction of these new projects and expects to commence operation of the two new tourist destinations in Jiangxi province by the first half of 2013 and the other one in Anhui province by the second half of 2013.

In terms of its media segment, the Company has previously disclosed that due to strict regulations on certain types of TV advertising, it expects that FETV's advertising revenue may continue to decline further in the quarters ahead. The Company now expects that it may have to discontinue the FETV business when the contract is due in July 2013. Beginning on January 1, 2012, the State Administration of Radio Film and Television (SARFT) disallowed any commercial advertisements that are inserted in the midst of certain TV programming with the result that ad time is now minimized and only able to be inserted at a program's end. In addition, the Company also expects that in the near future, it is highly likely that it will discontinue its train media business which generates minimal revenue, though such timing has not yet been determined.

The Company's strategic plan is to transition from what is currently a media and tourism company to one that is primarily a tourist company, where revenues derived from its tourism properties account for an ever-increasing percentage of its total revenues.  China Yida foresees diverse revenue streams emanating from its tourist properties which the Company expects will drive a sustainable level of revenue and earnings growth.

Conference Call

China Yida will conduct a conference call at 9:00 a.m. Eastern Time (ET) on Tuesday, November 13, 2012, to discuss its financial results for the third quarter ended September 30, 2012. To participate in the live conference call, please dial any of the following numbers five to ten minutes prior to the scheduled conference call time.

Toll-Free Dial-In Number:

US                     866-395-5819
China, Domestic 400-682-8609
Hong Kong         800-966-253
Singapore           800-101-1512

International callers can also dial +1-706-643-6986.

The Conference ID for this call is 64152056.

If you are unable to participate in the call at this time, a replay will be available for two weeks starting on Tuesday, November 13, 2012 at 12:00 p.m. ET. To access the replay, dial 855-859-2056 or 404-537-3406, international callers dial +1-800-585-8367. The Conference ID is 64152056.

About China Yida

China Yida is a leading tourism and media enterprise focused on China's fast-growing leisure industry and headquartered in Fuzhou City, Fujian province of China.  The Company provides tourism management services and specializes in the development, management and operation of natural, cultural and historic scenic sites. 

China Yida currently operates the Great Golden Lake tourist destination (Global Geopark), Hua'An Tulou tourist destination (World Culture Heritage) and China Yunding Park (National Park).  China Yida is also developing three additional tourism projects, Ming Dynasty Entertainment World, China Yang-sheng (Nourishing Life) Tourism Project and the City of Caves.

The Company's media business provides operations management services including content and advertising management for the Fujian Education Television Station ("FETV"), and "Journey through China on the Train", an advertisement-embedded travel program. 

For further information, please contact the Company directly, or visit its Web site at http://www.yidacn.net.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov.

Contact:

China Yida Holding           

CCG Investor Relations                       

Jocelyn Chen                  

Crocker Coulson, President

Phone: +86 591 28082230            

Phone: + (1) 646-213-1915

Email: [email protected]           

Email: [email protected]

FINANCIAL TABLES FOLLOW


CHINA YIDA HOLDING CO. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

 



September 30,


December 31,



2012


2011



(UNAUDITED)


(AUDITED)






ASSETS





Current assets





  Cash and cash equivalents

$

8,416,253

$

5,684,847

  Accounts receivable


227,674


129,849

  Other receivables, net


625,786


4,940,389

  Advances and prepayments


1,639,287


1,881,427

  Repayment – current portion


363,307


207,117

    Total current assets


11,272,307


12,843,629






  Property and equipment, net


140,451,891


110,593,580

  Construction in progress


3,415,337


25,964,029

  Intangible assets, net


44,887,717


32,355,010

  Long-term prepayments


4,819,210


12,758,763

  Deferred tax assets


-


104,078

    Total assets

$

204,846,462

$

194,619,089






LIABILITIES AND STOCKHOLDERS' EQUITY





Current liabilities





  Short-term loans

$

4,114,575

$

943,619

  Long-term debt, current portion


6,871,340


3,761,894

  Accounts payable


24,827


91,385

  Current obligation under airtime rights commitment


2,206,033


2,359,169

  Accrued expenses and other payables


2,080,927


638,175

  Taxes payable


391,767


1,223,528

  Deferred tax liabilities – current


-


67,644

    Total current liabilities


15,689,469


9,085,414






  Long-term obligation under airtime rights commitment


-


1,548,928

  Long-term debt


29,769,855


26,040,732

    Total liabilities


45,459,324


36,675,074






Commitments and contingencies










Stockholders' equity





Preferred stock ($0.001 par value, 10,000,000 shares authorized, none issued and outstanding)


-


-

Common stock ($0.0001 par value, 100,000,000 shares authorized, 19,571,785 and 19,551,785 issued and outstanding as of September 30, 2011 and December 31, 2011, respectively)


19,571


19,551

Additional paid in capital


49,148,049


49,111,569

Accumulated other comprehensive income


13,426,488


12,484,116

Retained earnings


88,975,816


87,715,182

Statutory reserve


2,549,330


2,549,330

Total China Yida Holding. Co. Stockholders' Equity


154,119,254


151,879,748

Non-controlling interest


5,267,884


6,064,267

Total stockholders' equity


159,387,138


157,944,015

Total liabilities and stockholders' equity

$

204,846,462

$

194,619,089

 

CHINA YIDA HOLDING CO. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND

OTHER COMPREHENSIVE INCOME

(UNAUDITED)

 



 Nine months ended September 30, 


Three months ended September June 30



2012


2011


2012


2011

Net revenue









Advertisement

$

14,126,023

$

26,675,830

$

3,168,963

$

8,322,439

Tourism


7,340,957


7,299,124


3,152,618


2,885,042










Total net revenue


21,466,980


33,974,654


6,321,581


11,207,481










Cost of revenue









Advertisement


4,227,122


6,847,683


1,236,714


2,141,129

Tourism


4,377,807


3,681,633


1,618,473


1,389,869










Total cost of revenue


8,604,929


10,529,316


2,855,187


3,530,998










Gross profit


12,862,051


23,445,338


3,466,394


7,676,483










Operating expenses









  Selling expenses


4,751,736


3,704,622


2,104,616


1,596,304

  General and administrative expenses


3,443,661


3,543,764


1,019,861


1,174,569










Total operating expenses


8,195,397


7,248,386


3,124,477


2,770,873










Income from operations


4,666,654


16,196,952


341,917


4,905,610










Other income (expense)









  Other expense, net


(191,870)


(41,430)


(77,203)


(23,648)

  Interest income


32,218


75,358


11,645


27,942

  Interest expenses


(990,189)


(228,212)


(870,698)


(26,454)










 Total other expenses


(1,149,841)


(194,284)


(936,256)


(22,160)










Income (Loss) before income tax and non-controlling interest


3,516,813


16,002,668


(594,339)


4,883,450










Less: Provision for income tax


2,457,792


5,433,442


451,471


1,715,696










Net income (Loss)


1,059,021


10,569,226


(1,045,810)


3,167,754










Net loss attributed to non-controlling interest


201,613


84,015


70,399


40,852










Net income (loss) attributable to China Yida Holding Co.


1,260,634


10,653,241


(975,411)


3,208,606










Other comprehensive income









Foreign currency translation gain (loss)


980,614


5,005,563


(253,430)


1,741,244










Comprehensive income (loss)

$

2,039,635

$

15,574,789

$

(1,299,240)

$

4,908,998










Compehensive loss attributable to non-controlling interest


163,371


84,678


79,962


41,469










Comprehensive income (loss) attributable to China Yida Holding Co.

$

2,023,006

$

15,659,467

$

(1,219,278)

$

4,950,467










Earnings per share









- Basic

$

0.06

$

0.54

$

(0.05)

$

0.16

- Diluted

$

0.06

$

0.54

$

(0.05)

$

0.16










Weighted average shares outstanding









- Basic


19,561,240


19,551,785


19,571,785


19,551,785

- Diluted


19,561,240


19,561,621


19,571,785


19,555,436










 

CHINA YIDA HOLDING CO. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 




For the Nine Months Ended




September 30,




2012


2011







 CASH FLOWS FROM OPERATING ACTIVITIES






  Net income 

$

1,059,021

$

10,569,226


 Adjustments to reconcile net income to net cash provided






 by operating activities:






   Depreciation


3,053,498


2,599,852


   Amortization


1,845,015


2,718,586


   Stock based compensation


36,500


576,536


   Deferred tax 


36,434


51,914


   Amortization of financing costs






 Changes in operating assets and liabilities:






   Accounts receivable


(97,174)


(106,811)


   Other receivables, net


3,718,652


(319,681)


   Advances and prepayments


254,323


282,239


   Accounts payable


(67,241)


(1,098,386)


   Accrued expenses and other payables


1,441,158


1,539,620


   Taxes payable


(840,807)


(544,244)


 Net cash provided by operating activities    


10,619,976


16,268,581







 CASH FLOWS FROM INVESTING ACTIVITIES






 Additions to property and equipment


(9,103,497)


(5,823,616)


 Additions to construction in progress


(416,744)


(2,718,003)


Additions to intangible asset


(4,639,247)


(11,988,896)


Proceeds from disposal of intangible asset




2,080,636


 Increase to long-term prepayments for acquisition of






 Property, equipment and land use rights


(1,185,197)


(2,778,112)


 Net cash used in investing activities   


(15,344,685)


(21,227,991)







 CASH FLOWS FROM FINANCING ACTIVITIES






 Repayment of loan from non-controlling interest


-


2,712,533


 Repayment of obligation under airtime rights commitment


(1,729,368)


(1,400,069)


 Payment of deferred financing costs


(674,645)


-


 Proceeds from short-term loans


3,170,326




 Proceeds of long-term loans


9,510,977


10,788,484


 Repayment of long-term loans


(2,847,632)


(246,594)


 Net cash provided by financing activities      


7,429,658


11,854,354







 EFFECT OF EXCHANGE RATE CHANGES ON CASH 


26,457


317,307







 NET INCREASE (DECREASE) IN CASH  AND CASH EQUIVALENTS


2,731,406


7,212,251

 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD


5,684,847


7,146,684

 CASH AND CASH EQUIVALENTS, ENDING OF PERIOD

$

8,416,253

$

14,358,935







 SUPPLEMENTAL DISCLOSURES:






 Non-cash investing and financing activities:






      Transfer from construction in progress to property and
      equipment

$

23,165,538

$

-


      Transfer from advances and prepayments to intangible
      assets

$

9,556,747

$

-


 Cash paid during the period for:






      Income tax 

$

3,199,743

$

5,830,819


      Interest 

$

2,303,355

$

691,035

The notes in the Company's 2012 10-Q are an integral part of these consolidated financial statements.

SOURCE China Yida Holding Company

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A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...