Click here to close now.

Welcome!

.NET Authors: Liz McMillan, PagerDuty Blog, Jackie Kahle, Esmeralda Swartz, Kyle Samani

News Feed Item

Jacksonville Bancorp Announces Quarterly Results

JACKSONVILLE, Fla., Nov. 14, 2012 /PRNewswire/ -- Jacksonville Bancorp, Inc. (the "Company") (NASDAQ: JAXB), holding company for The Jacksonville Bank (the "Bank"), reported a net loss for the three months ended September 30, 2012 of $10.7 million, or $1.81 per basic and diluted common share, compared to the third quarter 2011 net income of $1.3 million, or $.22 per basic and diluted common share.  The net loss was $21.2 million, or $3.60 per basic and diluted common share, for the nine months ended September 30, 2012, compared to net income of $2.8 million, or $.47 per basic and diluted common share, for the same period in 2011.  Book value and tangible book value per common share as of September 30, 2012 were $2.31 and $2.07, respectively.

(Logo: http://photos.prnewswire.com/prnh/20020410/JAXBLOGO )

The decrease in net income was driven primarily by an increase in provision for loan losses, noncash goodwill impairment expense and OREO expenses, an increase in loan related expenses, and a decrease in interest income on loans.  The decreased net interest income when compared to the previous year was due to a decrease in average earning assets, primarily driven by a reduction in loan balances, and the average yield earned on these assets.

Interest income decreased $1.1 million during the three-month period ended September 30, 2012 when compared to the same period in the prior year.  This decrease was driven by a decrease in average earning assets, in particular, average loan balances which declined by $36.2 million when compared to the same period in the prior year.  This was also attributable to a decrease in the loan yield to 5.42% for the three-month period ended September 30, 2012 from the 5.93% recognized during the three-month period ended September 30, 2011.  The decrease in the loan yield was driven by the following factors when compared to the same period in the prior year:

  • Decrease in accretion recognized on acquired loans of approximately $570 thousand;
  • Decrease in the weighted-average loan yield for new loans of 60 basis points; and
  • Modifications to reduce existing loan rates to be competitive in the current low-rate market environment.

Interest income decreased $3.8 million during the nine-month period ended September 30, 2012 when compared to the same period in the prior year.  This decrease was driven by a decrease in average earning assets, in particular, average loan balances which declined by $44.0 million when compared to the same period in the prior year.  This decrease was also impacted by a decrease in the average loan yield to 5.36% for the nine-month period ended September 30, 2012 from the 5.93% recognized during the nine months ended September 30, 2011.  The decrease in the loan yield was driven by the following factors when compared to the same period in the prior year:

  • Decrease in accretion recognized on acquired loans of approximately $1.4 million;
  • Decrease in the weighted-average loan yield for new loans of 74 basis points; and
  • Modifications to reduce existing loan rates to be competitive in the current low-rate market environment.

Interest expense decreased by $503 thousand and $1.5 million during the three- and nine-month periods ended September 30, 2012, respectively, when compared to the same periods in the prior year.  This was partially due to a decrease in the average cost of interest-bearing liabilities to 1.09% and 1.15% for the three-month and nine-month periods ended September 30, 2012, respectively, compared to 1.46% and 1.49% for the same periods in the prior year.  This decrease reflected the ongoing reduction in interest rates paid on deposits as a result of the re-pricing of deposits in the current market environment as well as a shift in the funding mix from interest-bearing to more noninterest-bearing deposits which further reduces overall funding costs.

Noninterest income for the three- and nine-month periods ended September 30, 2012, respectively, decreased to $356 thousand and $1.1 million when compared to $376 thousand and $1.2 million in the comparable periods in the prior year.  The decrease for the three-month period ended September 30, 2012, compared to the same period in the prior year, was driven by a $16 thousand decrease in service charges on deposit accounts with all other components remaining relatively flat period over period.  The decrease for the nine-month period ended September 30, 2012, compared to the same period in the prior year, was driven primarily by a $72 thousand decrease in service charges on deposit accounts with all other components remaining relatively flat period over period.

Noninterest expense increased to $10.6 million and $20.6 million, respectively, for the three- and nine-month periods ended September 30, 2012, compared to $4.6 million and $13.5 million, respectively, during the same periods in 2011.  This overall increase was mainly due to noncash goodwill impairment of $3.1 million, an increase in OREO expenses and write-downs of $1.8 million, loan related expenses of $1.2 million, and capital raise expenses of $497 thousand as a result of the extended time frame of raising capital when compared to the same period in the prior year.  In comparison, noninterest expense items related to general operating expenses remained relatively consistent year over year with increases in compensation, professional fees, and advertising and business development offset by reductions in data processing, occupancy and equipment, and regulatory assessments.

The income tax benefit for the nine months ended September 30, 2012 was $136 thousand compared to $1.7 million for the same period in 2011.  The Company recorded a full valuation allowance against its deferred taxes at December 31, 2011.  This was substantially due to the fact that it was "more likely than not" that the benefit would not be realized in future periods due to Section 382 of the Internal Revenue Code.  The calculation for the income tax provision or benefit generally does not consider the tax effects of changes in other comprehensive income ("OCI"), which is a component of shareholders' equity on the balance sheet.  However, an exception is provided in certain circumstances, such as when there is a full valuation allowance against the net deferred tax assets, there is a loss from continuing operations and income in other components of the financial statements.  In such a case, income from other categories, such as changes in OCI, must be considered in determining a tax benefit to be allocated to the loss from continuing operations.  During the nine-month period ended September 30, 2012, this resulted in $136 thousand of income tax benefit allocated to continuing operations.   

Total assets were $551.6 million as of September 30, 2012, compared to $607.9 million as of September 30, 2011.  Net loans decreased by 10.1% to $418.7 million as of September 30, 2012, compared to $465.9 million as of September 30, 2011.  Total deposits of $493.2 million as of September 30, 2012 increased $19.3 million compared to total deposits of $473.9 million as of December 31, 2011, whereas total deposits decreased $18.6 million compared to total deposits of $511.8 million as of September 30, 2011.  The increase in total deposits from December 31, 2011 was driven primarily by an increase in time deposits of $16.7 million and noninterest-bearing demand deposits of $5.0 million, offset by a decrease in money market, NOW and savings deposits of $2.4 million.  The increase in noninterest bearing demand deposits in relation to the decrease in interest-bearing deposits resulted in a reduction of overall funding costs.

As of September 30, 2012, nonperforming assets were $39.8 million, or 7.21% of total assets, compared to $56.0 million, or 9.2% of total assets as of September 30, 2011.  The decrease in nonperforming assets from the third quarter of 2011 to the third quarter of 2012 is primarily a result of an increase in loan charge-offs, write-downs on OREO, and the disposition of substandard assets.  This is consistent with the Company's overall strategy, which began in the second quarter of 2012, to accelerate the disposition of substandard assets.  As of September 30, 2012, nonperforming loans acquired in the merger with Atlantic BancGroup, Inc. were $9.0 million, or 22.5% of total nonperforming assets.

The following table presents information concerning nonperforming assets as of the last five quarters:

 


For the Period Ended


September 30,
2012


June 30,
2012


March 31,
2012


December 31,
2011


September 30,
2011






















Nonperforming Assets





















Nonperforming loans

$

35,168



$

46,407




$

49,066



$

46,904



$

51,639























Foreclosed assets, net


4,599




7,508





7,667




7,968




4,314


Total nonperforming assets


39,767




53,915





56,733




54,872




55,953























Nonperforming loans and





















  foreclosed assets as a





















  percent of total assets


7.21

%



9.25

%




9.68

%



9.77

%



9.20

%

Nonperforming loans as a





















  percent of gross loans


8.05

%



10.24

%




10.69

%



10.13

%



10.78

%

Loans past due 30-89 days,





















  still accruing interest

$

11,372



$

4,628




$

10,917



$

7,724



$

9,270



 

The increase in loans past due 30-89 days in the current quarter, still accruing interest, was driven primarily by one large relationship of $2.5 million that is in the process of being renewed, pending regulatory approval, and one loan of $3.5 million that was in process of executing a forbearance agreement in order to refinance to a lender providing government guaranteed loans.  Both of these situations are anticipated to be resolved in the near term.  Nonperforming loans decreased $11.2 million from $46.4 million for the three months ended June 30, 2012 to $35.2 million for the three months ended September 30, 2012.

The allowance for loan losses was 4.14% of total loans as of September 30, 2012, compared to 2.75% for the comparable period in 2011 and 2.82% as of December 31, 2011.  Provision for loan loss expense was $6.0 million and $17.6 million for the three- and nine-month periods ended September 30, 2012, respectively, compared to $1.7 million and $4.8 million for the comparable periods in 2011.  The Company has recorded net charge-offs of $8.5 million and $12.6 million for the three- and nine-month periods ended September 30, 2012, respectively, compared to $533 thousand and $4.6 million for the comparable periods in 2011.  The high level of charge-offs for the nine months ended September 30, 2012 is due primarily to the timing of recording charge-offs related to the Company's disposition of distressed assets on an individual customer basis.  This fits with the Company's current overall strategy to accelerate the disposition of substandard assets as discussed further below. 

During the second quarter of 2012, the Company adopted a new overall strategy to accelerate the disposition of substandard assets on an individual customer basis.  Certain current appraised values were discounted to estimated fair value based on current market data such as recent sales of similar properties, discussions with potential buyers and negotiations with existing customers.  These negotiations have materially impacted the Company's earnings for the three and nine months ended September 30, 2012 through the increased provision for loan losses.  The Company expects to continue this new strategy for the foreseeable future. 

In addition, the Company has executed a financial advisory agreement with an investment banking firm (the "Firm") to assist in raising capital.  During the third quarter of 2012, Bancorp executed a Stock Purchase Agreement (the "Stock Purchase Agreement") with its largest shareholder CapGen Capital Group IV LP ("CapGen"), for the sale of up to 25,000 shares of the Company's preferred stock, to-be-designated as Mandatorily Convertible, Noncumulative, Nonvoting Perpetual Preferred Stock, Series A ("Series A Preferred Stock").  Under the terms of the Stock Purchase Agreement, the Series A Preferred Stock is mandatorily convertible into shares of the Company's common stock upon approval by shareholders regarding the issuance of the common stock in connection with the conversion.  The Stock Purchase Agreement was approved unanimously by Bancorp's Board of Directors in contemplation of the private placement of 50,000 shares of Series A Preferred Stock at a purchase price of $1,000 per share for an aggregate of $50.0 million (the "Private Placement").  The closing of the Private Placement is conditioned upon certain factors, among other customary closing conditions, including: (i) the aggregate sale of $50.0 million in Series A Preferred Stock to investors, (ii) the determination of the conversion price and conversion rate of the Series A Preferred Stock issuance, (iii) the receipt of Federal Reserve approval of CapGen's additional investment in Bancorp, (iv) the receipt of an opinion from the Company's independent auditors that the Private Placement should not be an "ownership change" for purposes of Section 382 of the Internal Revenue Code, and (v) the receipt of a fairness opinion from a third-party investment banker. 

Also during the third quarter of 2012, Bancorp completed a $5.0 million capital raise through the sale of 5,000 shares of the Company's Noncumulative, Nonvoting, Perpetual Preferred Stock, Series B, $0.01 par value ("Series B Preferred Stock"), at a purchase price of $1,000 per share.  Proceeds from the sale of Series B Preferred Stock were $4.9 million, net of offering expenses, and were used for general operating expenses mainly for the subsidiary bank.  In connection with the $5.0 million capital raise, Bancorp and CapGen entered into an Exchange Agreement whereby Bancorp agreed to exchange shares of Series B Preferred Stock for the Series A Preferred Stock simultaneously with the issuance of shares of Series A Preferred Stock in the Private Placement (the "Exchange"), unless such shares of Series B Preferred Stock are first redeemed by the Company.  In the Exchange, all issued and outstanding shares of Series B Preferred Stock would be exchanged for the number of shares of Series A Preferred Stock having an aggregate liquidation preference equal to the aggregate Series B liquidation preference, unless otherwise specified under the closing terms of the Private Placement.

Jacksonville Bancorp, Inc., a bank holding company, is the parent of The Jacksonville Bank, a Florida state-chartered bank focusing on the Northeast Florida market with approximately $552 million in assets and eight full-service branches in Jacksonville, Duval County, Florida, as well as our virtual branch.  The Jacksonville Bank opened for business on May 28, 1999 and provides a variety of community banking services to businesses and individuals in Jacksonville, Florida.  More information is available at its website at www.jaxbank.com.

The statements contained in this press release, other than historical information, are forward-looking statements, which involve risks, assumptions and uncertainties.  The risks, uncertainties and factors affecting actual results include but are not limited to: our ability to raise capital; our ability to dispose of substandard assets and the disposition prices thereof; economic and political conditions, especially in North Florida; real estate prices and sales in the Company's markets; competitive circumstances; bank regulation, legislation, accounting principles and monetary policies; the interest rate environment; efforts to increase our capital and reduce our nonperforming assets; and technological changes.  The Company's actual results may differ significantly from the results discussed in forward-looking statements.  Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.  The Company does not undertake, and specifically disclaims, any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.  Additional information regarding risk factors can be found in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended December 31, 2011 which are incorporated herein by reference.

 

JACKSONVILLE BANCORP, INC.

(Unaudited)

(Dollars in thousands, except per share data)



















For the Three Months Ended



September 30,


June 30,


March 31,


December 31,


September 30,


2012


2012


2012


2011


2011

Consolidated Earnings Summary















Total interest income

$

6,641


$

6,474


$

6,671


$

7,145


$

7,754

Total interest expense


1,238



1,376



1,356



1,591



1,741

Net interest income


5,403



5,098



5,315



5,554



6,013

Provision for loan losses


5,990



11,584



72



7,617



1,737

Net interest income (loss) after
















provision for loan losses


(587)



(6,486)



5,243



(2,063)



4,276

Total noninterest income


356



290



437



355



376

Total noninterest expense


10,560



5,656



4,392



16,677



4,574

Income (loss) before income taxes


(10,791)



(11,852)



1,288



(18,385)



78

Income tax expense (benefit)


(106)



(30)



-



8,458



(1,219)

Net income (loss)

$

(10,685)


$

(11,822)


$

1,288


$

(26,843)


$

1,297

 



For the Three Months Ended



September 30,


June 30,


March 31,


December 31,


September 30,


2012


2012


2012


2011


2011

Summary Average Consolidated
















Balance Sheet















Loans, gross

$

447,885


$

455,604


$

459,166


$

474,612


$

484,122

Securities


91,887



82,648



70,427



65,380



66,400

Other earning assets


3,802



25,598



8,741



5,698



14,157

Total earning assets


543,574



563,850



538,334



545,690



564,679

Other assets


20,457



30,144



30,184



47,844



45,931

Total assets

$

564,031


$

593,994


$

568,518


$

593,534


$

610,610

















Interest-bearing liabilities

$

453,260


$

471,622


$

454,613


$

451,804


$

473,524

Other liabilities


92,012



91,733



84,400



85,936



82,305

Shareholders' equity


18,759



30,639



29,505



55,794



54,781

Total liabilities and
















shareholders' equity

$

564,031


$

593,994


$

568,518


$

593,534


$

610,610

 



For the Three Months Ended



September 30,


June 30,


March 31,


December 31,


September 30,



2012


2012


2012


2011


2011

Per Share Data















Basic earnings (loss) per share

$

(1.81)


$

(2.01)


$

0.22


$

(4.56)


$

0.22

Diluted earnings (loss) per share

$

(1.81)


$

(2.01)


$

0.22


$

(4.56)


$

0.22

Basic weighted average 
















shares outstanding


5,890,880



5,890,136



5,889,822



5,889,822



5,889,822

Diluted weighted average
















shares outstanding


5,890,880



5,890,136



5,890,689



5,889,822



5,890,553

Book value per basic share
















at end of period

$

2.31


$

3.22


$

5.23


$

4.98


$

9.52

Tangible book value per basic
















share at end of period

$

2.07


$

2.43


$

4.42


$

4.15


$

6.76

Total shares outstanding
















at end of period


5,890,880



5,890,880



5,889,822



5,889,822



5,889,822

Closing market price per share

$

0.92


$

1.51


$

3.53


$

3.15


$

4.89

 

 

JACKSONVILLE BANCORP, INC.

(Unaudited)

(Dollars in thousands, except per share data)



For the Three Months Ended


September 30,


June 30,


March 31,


December 31,


September 30,


2012


2012


2012


2011


2011

Selected Ratios















Return on average assets


(7.54)%



(8.00)%



0.91%



(17.94)%



0.84%

Return on average equity


(226.60)%



(155.19)%



17.56%



(190.87)%



9.39%

Average equity to average assets


3.33%



5.16%



5.19%



9.40%



8.97%

Tangible common equity to
















tangible assets


2.22%



2.48%



4.48%



4.39%



6.73%

Interest rate spread


3.77%



3.44%



3.78%



3.80%



3.99%

Net interest margin


3.95%



3.64%



3.97%



4.04%



4.22%

Allowance for loan losses
















as a percentage of total loans


4.14%



4.56%



2.85%



2.82%



2.75%

Allowance for loan losses
















as a percentage of NPL's


51.47%



44.49%



22.98%



27.77%



25.56%

Ratio of net charge-offs as a 
















percentage of average loans


7.58%



3.56%



0.01%



6.51%



0.44%

Efficiency ratio


183.37%



104.97%



76.36%



282.23%



71.59%

















As of


September 30,


June 30,


March 31,


December 31,


September 30,


2012


2012


2012


2011


2011

Summary Consolidated
















Balance Sheet















Cash and cash equivalents

$

13,661


$

25,703


$

23,136


$

9,955


$

22,972

Securities


88,838



90,583



78,768



66,025



63,892

Loans, gross


436,754



453,263



459,121



462,607



479,083

Allowance for loan losses


(18,100)



(20,647)



(13,082)



(13,024)



(13,197)

Loans, net


418,654



432,616



446,039



449,583



465,886

Goodwill


-



3,137



3,137



3,137



14,326

Other intangible assets, net


1,380



1,511



1,642



1,774



1,916

All other assets


29,018



29,407



33,111



30,951



38,952

Total assets

$

551,551


$

582,957


$

585,833


$

561,425


$

607,944
















Deposit accounts

$

493,205


$

521,549


$

513,513


$

473,907


$

511,754

All other liabilities


44,767



42,430



41,518



58,174



40,126

Shareholders' equity


13,579



18,978



30,802



29,344



56,064

Total liabilities and















  shareholders' equity

$

551,551


$

582,957


$

585,833


$

561,425


$

607,944


















 

 

JACKSONVILLE BANCORP, INC.

(Unaudited)

(Dollars in thousands, except per share data)




For the Nine Months Ended


September 30,


September 30,


2012


2011

Consolidated Earnings Summary






Total interest income

$

19,786


$

23,599

Total interest expense


3,970



5,425

Net interest income


15,816



18,174

Provision for loan losses


17,646



4,775

Net interest income (loss) after provision for loan losses


(1,830)



13,399

Total noninterest income


1,083



1,176

Total noninterest expense


20,608



13,476

Income (loss) before income tax


(21,355)



1,099

Income tax benefit


(136)



(1,684)

Net income (loss)

$

(21,219)


$

2,783








For the Nine Months Ended


September 30,


September 30,


2012


2011

Summary Average Consolidated Balance Sheet






Loans, gross

$

454,195


$

498,154

Securities


81,691



66,080

Other earning assets


12,681



8,371

Total earning assets


548,567



572,605

Other assets


26,905



46,669

Total assets

$

575,472


$

619,274







Interest-bearing liabilities

$

459,807


$

485,942

Other liabilities


89,391



79,894

Shareholders' equity


26,274



53,438

Total liabilities and shareholders' equity

$

575,472


$

619,274








For the Nine Months Ended


September 30,


September 30,


2012


2011

Per Share Data






Basic earnings (loss) per share

$

(3.60)


$

0.47

Diluted earnings (loss) per share

$

(3.60)


$

0.47

Basic weighted average shares outstanding


5,890,281



5,889,310

Diluted weighted average shares outstanding


5,890,281



5,890,170

Book value per basic share at end of period

$

2.31


$

9.52

Tangible book value per basic share at end of period

$

2.07


$

6.76

Total shares outstanding at end of period


5,890,880



5,889,822

Closing market price per share

$

0.92


$

4.89

 

 

JACKSONVILLE BANCORP, INC.

(Unaudited)

(Dollars in thousands, except per share data)




For the Nine Months Ended


September 30,


September 30,


2012


2011

Selected Ratios






Return on average assets


(4.93)%



0.60%

Return on average equity


(107.88)%



6.96%

Average equity to average assets


4.57%



8.63%

Tangible common equity to tangible  assets


2.22%



6.73%

Interest rate spread


3.67%



4.02%

Net interest margin


3.85%



4.24%

Allowance for loan losses as a percentage of total loans


4.14%



2.75%

Allowance for loan losses as a percentage of NPL's


51.47%



25.56%

Ratio of net charge-offs as a percentage of average loans


3.70%



1.25%

Efficiency ratio


121.95%



69.64%








As of


September 30,


September 30,


2012


2011

Summary Consolidated Balance Sheet






Cash and cash equivalents

$

13,661


$

22,972

Securities


88,838



63,892

Loans, gross


436,754



479,083

Allowance for loan losses


(18,100)



(13,197)

Loans, net


418,654



465,886

Goodwill


-



14,326

Other intangible assets, net


1,380



1,916

All other assets


29,018



38,952

Total assets

$

551,551


$

607,944







Deposit accounts

$

493,205


$

511,754

All other liabilities


44,767



40,126

Shareholders' equity


13,579



56,064

Total liabilities and shareholders' equity

$

551,551


$

607,944

 

 

SOURCE Jacksonville Bancorp, Inc.

More Stories By PR Newswire

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

@ThingsExpo Stories
GENBAND has announced that SageNet is leveraging the Nuvia platform to deliver Unified Communications as a Service (UCaaS) to its large base of retail and enterprise customers. Nuvia’s cloud-based solution provides SageNet’s customers with a full suite of business communications and collaboration tools. Two large national SageNet retail customers have recently signed up to deploy the Nuvia platform and the company will continue to sell the service to new and existing customers. Nuvia’s capabilities include HD voice, video, multimedia messaging, mobility, conferencing, Web collaboration, deskt...
The Open Compute Project is a collective effort by Facebook and a number of players in the datacenter industry to bring lessons learned from the social media giant's giant IT deployment to the rest of the world. Datacenters account for 3% of global electricity consumption – about the same as all of Switzerland or the Czech Republic -- according to people I met at the recent Open Compute Summit in San Jose. With increasing mobility at the edge of the cloud and vast new dataflows being predicted with the growth of the Internet of Things (and The Coming Age of Many Zettabytes) in the near...
The list of ‘new paradigm’ technologies that now surrounds us appears to be at an all time high. From cloud computing and Big Data analytics to Bring Your Own Device (BYOD) and the Internet of Things (IoT), today we have to deal with what the industry likes to call ‘paradigm shifts’ at every level of IT. This is disruption; of course, we understand that – change is almost always disruptive.
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborate. Cisco and our partners are building the platform for the Internet of Everything by connecting the...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things compatible devices.
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed expressly to run Docker. He will also discuss Rancher, an orchestration and service discovery platf...
Sonus Networks introduced the Sonus WebRTC Services Solution, a virtualized Web Real-Time Communications (WebRTC) offer, purpose-built for the Cloud. The WebRTC Services Solution provides signaling from WebRTC-to-WebRTC applications and interworking from WebRTC-to-Session Initiation Protocol (SIP), delivering advanced real-time communications capabilities on mobile applications and on websites, which are accessible via a browser.
SYS-CON Events announced today that Aria Systems, the leading innovator in recurring revenue, has been named “Bronze Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Proven by the world’s most demanding enterprises, including AAA NCNU, Constant Contact, Falck, Hootsuite, Pitney Bowes, Telekom Denmark, and VMware, Aria helps enterprises grow their recurring revenue businesses. With Aria’s end-to-end active monetization platform, global brands can get to market faster with a wider variety of products and services, while maximizin...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Things. Akana enables enterprises to share data as APIs, connect and integrate applications, drive part...
After making a doctor’s appointment via your mobile device, you receive a calendar invite. The day of your appointment, you get a reminder with the doctor’s location and contact information. As you enter the doctor’s exam room, the medical team is equipped with the latest tablet containing your medical history – he or she makes real time updates to your medical file. At the end of your visit, you receive an electronic prescription to your preferred pharmacy and can schedule your next appointment.
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional Social, Mobile and Cloud user experiences, our solutions help large and medium-sized organizations dr...
SYS-CON Events announced today that Liaison Technologies, a leading provider of data management and integration cloud services and solutions, has been named "Silver Sponsor" of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York, NY. Liaison Technologies is a recognized market leader in providing cloud-enabled data integration and data management solutions to break down complex information barriers, enabling enterprises to make smarter decisions, faster.
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and sim...
Cloud is not a commodity. And no matter what you call it, computing doesn’t come out of the sky. It comes from physical hardware inside brick and mortar facilities connected by hundreds of miles of networking cable. And no two clouds are built the same way. SoftLayer gives you the highest performing cloud infrastructure available. One platform that takes data centers around the world that are full of the widest range of cloud computing options, and then integrates and automates everything. Join SoftLayer on June 9 at 16th Cloud Expo to learn about IBM Cloud's SoftLayer platform, explore se...
SYS-CON Media announced today that 9 out of 10 " most read" DevOps articles are published by @DevOpsSummit Blog. Launched in October 2014, @DevOpsSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce softw...