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Hollysys Automation Technologies Reports Unaudited Financial Results for Fiscal Year 2013 First Quarter Ended September 30, 2012

BEIJING, Nov. 14, 2012 /PRNewswire-FirstCall/ -- Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, today announced its unaudited financial results for the fiscal year 2013 first quarter ended on September 30, 2012 (see attached tables).

Q1 Financial Highlights

  • Quarterly revenues of $88.1 million, representing an increase of 1.0% compared to $87.2 million  year-over-year, and an decrease of 0.1% compared to $88.1 million quarter-over-quarter.
  • Gross margin at 34.4%, as compared to 37.8% year-over-year, and 41.4% quarter-over-quarter.
  • Non-GAAP net income attributable to Hollysys of $15.8 million, representing an increase of 22.7% as compared to $12.8 million year-over-year, and an increase of 26.3% as compared to $12.5 million quarter-over-quarter.
  • Non-GAAP Diluted EPS at $0.28 reported for the quarter, as compared to $0.23 year-over-year, and $0.22 quarter-over-quarter.
  • Backlog of $368.7 million as of September 30, 2012, a 22.8% increase compared to $300.1 million year-over-year, and 5.4% decrease compared to $389.8 million quarter-over-quarter.
  • Quarterly DSO of 140 days, as compared to 138 days year-over-year, and 139 days quarter-over-quarter.
  • Inventory turn-over days of 43 days for this quarter compared to 51 days year-over-year, and 53 days quarter-over-quarter.
  • Generate net cash provided by operating activities of $29.1 million for this quarter.

Dr. Changli Wang, Chairman and CEO of Hollysys, stated: "We are pleased to report solid financial and operational performance for the first quarter of this fiscal year, here I would like to discuss some key events during this quarter:

Industrial automation continued its growth momentum in both revenue and backlog compared to the same period of last fiscal year, besides our strengthened efforts and enhanced core capabilities, the growth is mainly driven by several factors amid the challenging external environment: Firstly, we continued to take market share in industrial automation by our better value proposition and unparallel advantages of industry leading proprietary technology, more extensive service network, flexible customization, industry expertise and total solution capabilities; Secondly, we further segmented industrial automation market into detailed niche sectors and found a lot of opportunities and designed customized systems to satisfy clients' specific requirements; Thirdly, we are providing more total solution for the whole plant's automation and control to address customers' buying behavior change and enlarge our business scope; Lastly, we changed our marketing strategy from hunting for projects to cultivating client base to establish long term close working relationship with customers. All in all, with our brand name recognition, industry leading technology, better customization and service capabilities and better value for money proposition, as well as the vast business opportunities we have envisioned so far, we will continue to maintain the stable and sustainable growth and development of this business sector.

In rail sector, we are glad to see that the expedited high-speed construction will continue to bring more opportunities to Hollysys as one of the two major high-speed rail signaling system providers in China. In October, we signed a contract to provide the Line-side Electronic Unit (LEU) and Balise to Chongqing-Lichuan high-speed rail line, which was another major contract we signed in the past few months. Going into the future, we will take on the ride of another round of China's accelerated high-speed construction and take our fair market share.  In the subway sector, we are well on track of the subway signaling system development and certification according to the international standards, which will be finished by the end of this calendar year.

Overseas market will be another exciting growth driver for Hollysys stepping towards internationalization, we believe that with our world class technology and experienced international team, we will make more exciting achievements in the international market in the future.

The First Quarter Ended September 2012 Unaudited Financial Results Summary

To facilitate a clear understanding of Hollysys' operational results, a summary of unaudited non-GAAP financial results is shown as below:

In USD thousands, except share numbers and EPS












Three months ended



September 30,
2012

September 30,
2011

%
Change






Revenues

$

88,067

87,164

1.0%

    Integrated Contract Revenue

$

82,852

83,482

(0.8)%

    Products Sales

$

5,215

3,682

41.6%

Cost of Revenues

$

57,800

54,217

6.6%

Gross Profit

$

30,267

32,947

(8.1)%

Total Operating Expenses

$

15,517

17,515

(11.4)%

    Selling

$

6,593

6,982

(5.6)%

    General and Administrative

$

5,832

4,858

20.0%

    Research and Development

$

7,675

6,069

26.4%

    VAT refunds and government subsidies

$

(4,583)

(394)

1061.6%

Income from operations

$

14,750

15,432

(4.4)%

Other income, net

$

2,037

188

983.8%

Share of net income (loss) of equity investees

$

739

(55)

(1,439.4)%

Interest income

$

982

205

378.9%

Interest expenses

$

(716)

(926)

(22.7)%

Income tax expenses

$

1,966

1,866

5.4%

Non-GAAP net income attributable to non-controlling interests

$

75

141

(46.9)%

Non-GAAP net income attributable to Hollysys Automation Technologies Ltd.

$

15,750

12,837

22.7%

Basic Non-GAAP EPS

$

0.28

0.23

21.7%

Diluted  Non-GAAP EPS

$

0.28

0.23

21.7%






Stock-based Compensation Cost

$

527

157

234.8%

Net income attributable to Hollysys Automation Technologies Ltd.(GAAP)

$

15,223

12,679

20.1%

Basic GAAP EPS

$

0.27

0.23

17.4%

Diluted GAAP EPS

$

0.27

0.23

17.4%






Basic Weighted Average Common Shares Outstanding


55,998,917

55,009,486

1.8%

Diluted Weighted Average Common Shares Outstanding


56,062,950

55,238,035

1.5%

Operational Results Analysis for the First quarter ended September 30, 2012

For the three months ended September 30, 2012, total revenues increased by 1.0% to $88.1 million, from $87.2 million in the prior fiscal year period.  Of the total revenues, revenue from integrated contracts decreased by 0.8% to $82.9 million, as compared to $83.5 million for the same period of the prior year; revenue from products sales increased by 41.6% to $5.2 million, as compared to $3.7 million for the same period of the prior year. The Company's total revenue by segment was as followings:



Three months ended Sep 30,



2012


2011



$

% to Total
Revenue


$

% to Total
Revenue

Industrial Automation


60.1

68.3%


54.8

62.9%

Rail Transportation


14.9

16.9%


25.6

29.4%

Miscellaneous


13.0

14.8%


6.7

7.7%

Total


88.1

100.0%


87.2

100.0%

As a percentage of total revenues, overall gross margin was 34.4% for the three months ended September 30, 2012, as compared to 37.8% for the same period of last year. The gross margin for integrated contracts and product sales were 32.4% and 66.0% for the three months ended September 30, 2012, as compared to 36.6% and 64.4% for the same period of last year respectively. The gross margin fluctuation was mainly due to the different revenue mix with different margin.

For the three months ended September 30, 2012, selling expenses were $6.6 million, compared to $7.0 million year over year, representing a decrease of $0.4 million, or 5.6%. As a percentage of total revenues, selling expenses were 7.5% and 8.0% for the three months ended September 30, 2012, and 2011, respectively.

General and administrative expenses, excluding non-cash stock-based compensation expense, were $5.8 million for the quarter ended September 30, 2012, representing an increase of $0.9 million, or 20.0%, as compared to $4.9 million for the same period of prior year, mainly due to an increase of 0.6 million of bad debt allowance. As a percentage of total revenues, G&A expenses were 6.6% and 5.6% for the three months ended September 30, 2012 and 2011, respectively. Including the non-cash stock-based compensation cost recorded on a GAAP basis, G&A expenses were $6.4 million and $5.0 million for three months ended September 30, 2012 and 2011, respectively.

Research and development expenses were $7.7 million for the three months ended September 30, 2012, compared to $6.1 million year over year, representing an increase of $1.6 million, or 26.4%. Compared to the same period of prior year, the increase was mainly due to the Company's increased R&D activities. As a percentage of total revenues, R&D expenses were 8.7% and 7.0% for the quarter ended September 30, 2012 and 2011, respectively.

The VAT refunds and government subsidies amounted to $4.6 million for three months ended September 30, 2012, as compared to $0.4 million for the comparative prior year period, representing an increase of $4.2 million. No VAT refunds were recognized during the quarter ended September 30, 2011,as the VAT refunds policy was undetermined by then, and all the VAT refunds for the whole calendar year 2011 was recognized during the December quarter of fiscal year 2012.

The income tax expenses and the effective tax rate were $2.0 million and 11.4% for the three months ended September 30, 2012, as compared to $1.9 million and 12.7% for the same prior year period. 

For the three months ended September 30, 2012, the non-GAAP net income attributable to Hollysys excluding non-cash stock compensation cost was $15.8 million or $0.28 per diluted share based on 56 million shares outstanding. This represents an increase of $2.9 million, or 22.7%, over the $12.9 million, or $0.23 per share based on 55 million shares outstanding, reported in the prior year period. On a GAAP basis, net income attributable to Hollysys was $15.2 million, or $0.27 per diluted share representing an increase of $2.5 million or 20.1%, over the $12.7 million, or $0.23 per diluted share reported in the prior year period.

Backlog Highlights

Hollysys' backlog as of September 30, 2012 was $368.7 million, compared to $389.8 million on June 30, 2012, and $300.1 million on September 30, 2011. There is slight decrease compared with last quarter. The large increase compared with prior year was mainly contributed by contracts with Hong Kong MTR Corporation to provide High-Speed Rail Signaling Systems. The detailed breakdown of the backlog by segment is as followings:






Quarter-over-Quarter Analysis


Year-over-Year Analysis



2012-9-30


2012-6-30


2011-9-30



$

% to Total Backlog


$

% to Total Backlog


%
Change


$

% to Total Backlog


%
Change

Industrial Automation


145.2

39.4%


150.9

38.7%


(3.8%)


128.7

42.9%


12.8%

Rail Transportation


185.3

50.2%


196.9

50.5%


(5.9%)


157.2

52.4%


17.9%

Miscellaneous


38.2

10.4%


42.0

10.8%


(9.0%)


14.2

4.7%


168.7%

Total


368.7

100.0%


389.8

100.0%


(5.4%)


300.1

100.0%


22.8%

Cash Flow Highlights

The net cash provided by operating activities was $29.1 million for the three months ended September 30, 2012; including investing and financing activities, the total net cash inflow for this quarter was $24.8 million.

Balance Sheet Highlights

The total amount of cash and cash equivalents and time deposits with original maturities over three months were $139.2 million, $117.9 million, and $75.5 million as of September 30, 2012, June 30, 2012, and September 30, 2011, respectively. Of the total $139.2 million as of September 30, 2012, cash and cash equivalents were $121.2 million, and time deposits with original maturities over three months were $18.0 million.

For the three months ended September 30, 2012, Days Sales Outstanding ("DSO") is 140 days, as compared to 138 days year over year and 139 days quarter over quarter; and inventory turnover is 43 days, as compared to 51 days year over year and 53 days quarter over quarter.

Outlook for FY 2013

Dr. Wang concluded, "Given our strong backlog currently on-hand and sales pipeline envisioned so far, we reiterate our guidance of fiscal year 2013 with revenue in the range of $385 million to $410 million and non-GAAP net income in the range of $63 million to $67 million unchanged."

Conference Call

Management will discuss the current status of the Company's operations during a conference call at 8:30 AM ET/9:30 PM Beijing time on Wednesday, November 14, 2012. Interested parties may participate in the call by dialing the following numbers approximately 10 minutes before the call is scheduled to begin and ask to be connected to the Hollysys Automation Technologies conference call.  The conference call identification number is 57520064.

1-866-519-4004 (USA)
800-930-346 (HK)
+852-24750994 (HK)
800-819-0121 (China Landline)
400-620-8038 (China Mobile)
+65-67239381 (International)

In addition, a recorded replay of the conference call will be accessible within 24 hours via Hollysys' website at: http://www.hollysys.com.sg/home/index.php/investor-relations/events-a-webcast

About Hollysys Automation Technologies, Ltd.

Hollysys Automation Technologies is a leading provider of automation and control technologies and applications in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. Founded in 1993, Hollysys has approximately 3,500 employees with nationwide presence in over 60 cities in China, with subsidiaries and offices in Singapore, Malaysia, Dubai, India, and serves over 4,000 customers more than 15,000 projects in the industrial, railway, subway & nuclear industries in China, South-East Asia, and the Middle East. Its proprietary technologies are applied in its industrial automation solution suite including DCS (Distributed Control System), PLC (Programmable Logic Controller), RMIS (Real-time Management Information System), HAMS (HolliAS Asset Management System), OTS (Operator Training System), HolliAS BATCH (Batch Application Package), HolliAS APC Suite (Advanced Process Control Package), SIS (Safety Instrumentation System), high-speed railway signaling system of TCC (Train Control Center), ATP (Automatic Train Protection), Subway Supervisory and Control platform, SCADA (Surveillance Control and Data Acquisition), nuclear conventional island automation and control system and other products.

SAFE HARBOUR:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties.  Such forward-looking statements, based upon the current beliefs and expectations of Hollysys' management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.  Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact Information:

Hollysys Automation Technologies, Ltd.
www.hollysys.com
Investor Relations
+86-10-5898-1386
[email protected]

 

HOLLYSYS AUTOMATION TECHNOLOGIES LTD.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(In US Dollars)








Three months ended
September 30,



2012


2011



(Unaudited)


(Unaudited)

Net revenues





Integrated contract revenue

$

82,852,035

$

83,481,883

Products sales


5,214,583


3,682,190

Total net revenues


88,066,618


87,164,073






Cost of integrated contracts


56,027,759


52,905,654

Cost of products sold


1,772,187


1,311,271

Gross profit


30,266,672


32,947,148






Operating expenses





Selling


6,592,885


6,981,831

General and administrative


6,358,859


5,015,483

Research and development


7,674,707


6,069,469

VAT refunds and government subsidies


(4,582,586)


(394,491)

Total operating expenses


16,043,865


17,672,292






Income from operations


14,222,807


15,274,856






Other income, net


2,036,663


187,926

Share of net income (loss) of equity investees


739,018


(55,175)

Interest income


981,711


204,978

Interest expenses


(715,831)


(926,117)

Income before income taxes


17,264,368


14,686,468






Income taxes expenses


1,966,056


1,866,180

Net income


15,298,312


12,820,288






Less: Net income attributable to non-controlling interests


74,824


140,930

Net income attributable to Hollysys Automation Technologies Ltd.

$

15,223,488

$

12,679,358






Other comprehensive income, net of tax





Foreign currency translation adjustments, net of nil tax


(1,917,454)


3,939,572

Comprehensive income


13,380,858


16,759,860






Less: Comprehensive income attributable to non-controlling interests


67,961


158,051

Comprehensive income attributable to Hollysys Automation Technologies Ltd.

$

13,312,897

$

16,601,809






Net income per ordinary share:





Basic


0.27


0.23

Diluted


0.27


0.23

Weighted average ordinary shares used in income per share computation:





Basic


55,998,917


55,009,486

Diluted


56,062,950


55,238,035

 

 

 

HOLLYSYS AUTOMATION TECHNOLOGIES LTD.

CONSOLIDATED BALANCE SHEETS

(In US Dollars)












September 30,


June 30,





2012


2012





(Unaudited)


(Unaudited)

ASSETS






Current assets:







Cash and cash equivalents

$

121,157,212

$

96,332,962



Time deposits with original maturities over three months


18,015,398


21,586,896



Restricted cash


3,829,739


5,544,273



Accounts receivable, net of allowance for doubtful accounts of
  $15,777,271 and $14,287,361 as of September 30, 2012 and June 
  30, 2012, respectively


136,752,983


136,589,994



Cost and estimated earnings in excess of billings, net of allowance
  for doubtful accounts of $1,768,528 and $1,890,108 as of
  September 30, 2012 and June 30, 2012, respectively


126,344,148


115,161,236



Other receivables, net of allowance for doubtful accounts of
  $354,214 and $344,978 as of September 30, 2012 and June 30,
  2012, respectively


5,948,416


7,287,214



Advances to suppliers


8,542,288


10,300,182



Amount due from related parties


14,750,841


16,336,558



Inventories, net


28,553,597


26,745,225



Prepaid expenses


288,241


876,363



Income tax recoverable


319,298


139,469



Deferred tax assets


652,979


772,061


Total current assets


465,155,140


437,672,433










Restricted cash


675,651


-



Property, plant and equipment, net


69,137,613


63,536,646



Prepaid land leases


6,813,632


6,870,076



Acquired intangible assets, net


503,328


594,971



Investments in equity investees


14,256,245


13,080,929



Investments in cost investees


2,989,025


2,996,638



Goodwill


27,643,846


27,588,883



Deferred tax assets


1,376,462


414,399









Total assets


588,550,942


552,754,975








LIABILITIES AND STOCKHOLDERS' EQUITY






Current liabilities:







Current portion of long-term loans


7,895,145


7,914,668



Accounts payable


83,314,254


78,761,476



Construction cost payable


3,309,360


923,205



Deferred revenue


70,235,032


59,293,745



Accrued payroll and related expense


7,239,996


6,448,623



Income tax payable


3,148,875


3,605,030



Warranty liabilities


1,602,545


3,575,920



Other tax payables


18,504,017


18,225,344



Accrued liabilities


14,077,091


7,746,036



Amounts due to related parties


1,835,253


1,964,275



Deferred tax liabilities


1,351,906


370,300


Total current liabilities


212,513,474


188,828,622










Long-term bank loans


22,610,747


24,641,374



Deferred tax liabilities


234,111


-


Total liabilities


235,358,332


213,469,996









Commitments and contingencies


-


-









Equity:







Ordinary shares


55,999


55,999



Additional paid-in capital


151,831,919


151,305,146



Statutory reserves


23,091,072


23,091,072



Retained earnings


146,157,830


130,934,342



Accumulated other comprehensive income


30,803,965


32,714,556


Total Hollysys Automation Technologies Ltd. stockholder's 
  equity


351,940,785


338,101,115










Non-controlling interests


1,251,825


1,183,864


Total equity


353,192,610


339,284,979









Total liabilities and stockholders' equity

$

588,550,942

$

552,754,975

 


 

HOLLYSYS AUTOMATION TECHNOLOGIES LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In US Dollars)








Three months ended
September 30, 2012




(Unaudited)

Cash flows from operating activities:                                          




Net income

$

15,298,312

Adjustments to reconcile net income to net cash provided by
   (used in) operating activities:


Depreciation of property, plant and equipment


1,467,299


Amortization of prepaid land leases


39,050


Amortization of intangible assets


43,311


Allowance for doubtful accounts


1,565,846


Loss on disposal of property, plant and equipment


24,115


Share of net income from equity investees


(739,018)


Share based compensation expenses


526,773


Deferred income tax expenses


362,962

Changes in operating assets and liabilities:




Accounts receivable


(1,495,557)


Costs and estimated earnings in excess of billings


(11,358,382)


Inventories 


(1,849,936)


Advances to suppliers


1,734,237


Other receivables 


1,361,238


Deposits and other assets


1,753,793


Due from related parties


1,073,204


Accounts payable


4,558,155


Deferred revenue


10,889,531


Accruals and other payable


4,300,639


Due to related parties


(124,035)


Income tax payable


(629,264)


Other tax payables


325,601


Net cash provided by operating activities


29,127,874





Cash flows from investing activities:




Time deposits placed with banks


(5,217,245)


Purchases of property, plant and equipment


(4,033,240)


Maturity of time deposits


8,766,465


Net cash used in investing activities


(484,020)





Cash flows from financing activities:




Repayments of long-term bank loans


(1,975,998)


Net cash used in financing activities


(1,975,998)






Effect of foreign exchange rate changes


(1,843,606)


Net increase in cash and cash equivalents

$

24,824,250






Cash and cash equivalents, beginning of period

$

96,332,962


Cash and cash equivalents, end of period


121,157,212

Non-GAAP Measures

In evaluating our results, the non-GAAP measures of "Non-GAAP general and administrative expenses", "Non-GAAP net income attributable to Hollysys Automation Technologies Ltd.", "Non-GAAP basic earnings per share", and "Non-GAAP diluted earnings per share" serve as additional indicators of our operating performance and not as a replacement for other measures in accordance with U.S. GAAP. We believe these non-GAAP measures are useful to investors, as they exclude the stock-based compensation cost, which is calculated based on the number of shares or options granted and the fair value as of the grant date. It will not result in any cash inflows or outflows. We believe that using non-GAAP measures help our shareholders to have a better understanding of our operating results and growth prospects. In addition, given the business nature of Hollysys, it has been a common practice for investors and analysts to use such non-GAAP measures to evaluate the Company.

The following table provides a reconciliation of U.S. GAAP measures to the non-GAAP measures for the periods indicated:




Three months ended




September 30,




2012


2011




(Unaudited)


(Unaudited)







General and administrative expenses

$

6,358,859

$

5,015,483

Minus:






Stock-based compensation cost


526,773


157,356

Non-GAAP general and administrative expenses

$

5,832,086

$

4,858,127







Net income attributable to Hollysys Automation Technologies Ltd.

$

15,223,488

$

12,679,358

Add:






Stock-based compensation cost


526,773


157,356

Non-GAAP net income attributable to Hollysys Automation Technologies Ltd.

$

15,750,261

$

12,836,714








Weighted average number of ordinary shares


55,998,917


55,009,486


Weighted average number of diluted ordinary shares


56,062,950


55,238,035

Non-GAAP basic earnings per share

$

0.28

$

0.23

Non-GAAP diluted earnings per share

$

0.28

$

0.23

SOURCE Hollysys Automation Technologies, Ltd.

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The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
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SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
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 lea...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
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 sett...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...