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E-House Reports Third Quarter and First Nine Months of 2012 Results

SHANGHAI, Nov. 15, 2012 /PRNewswire/ -- E-House (China) Holdings Limited ("E-House" or the "Company") (NYSE: EJ), a leading real estate services company in China, today announced its unaudited financial results for the fiscal quarter and nine months ended September 30, 2012.

Third Quarter 2012 Financial and Operating Highlights

  • Total gross floor area ("GFA") of new properties sold increased by 35% year-on-year to 4.8 million square meters. Total value of new properties sold increased by 37% year-on-year to RMB40.7 billion ($6.4 billion)[1].
  • Total revenues increased by 25% year-on-year to $136.6 million.
  • Non-GAAP[2] income from operations increased by 79% year-on-year to $20.6 million.
  • Non-GAAP net loss attributable to E-House shareholders was $7.8 million or $0.07 loss per diluted American depositary share ("ADS").

First Nine Months of 2012 Financial and Operating Highlights

  • Total GFA of new properties sold was 10.6 million square meters for the first nine months of 2012, an increase of 15% from the same period of 2011. Total value of new properties sold was RMB87.3 billion ($13.8 billion) for the first nine months of 2012, an increase of 7% from the same period of 2011.
  • Total revenues were $309.9 million for the first nine months of 2012, an increase of 9% from the same period of 2011.
  • Non-GAAP loss from operations was $22.0 million for the first nine months of 2012.
  • Non-GAAP net loss attributable to E-House shareholders was $17.8 million, or $0.17 loss per diluted ADS, for the first nine months of 2012.

[1] This press release contains translations of certain RMB amounts into U.S. dollar amounts solely for the convenience of the reader. The RMB amounts were translated into U.S. dollar amounts at a rate of RMB 6.3357 to US$1.00, which is the average central parity rate announced by the People's Bank of China for the third quarter of 2012.

 

[2] E-House uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to E-House shareholders, (4) net income (loss) attributable to E-House shareholders per basic ADS,  and (5) net income (loss) attributable to E-House shareholders per diluted ADS, each of which excludes share-based compensation expense, amortization of intangible assets resulting from business acquisitions, goodwill impairment charge and gain/(loss) from the disposal of subsidiaries. See "About Non-GAAP Financial Measures" and "Unaudited Reconciliation of GAAP and Non-GAAP Results" below for more information about the non-GAAP financial measures included in this press release.

 

Xin Zhou, E-House's co-chairman and CEO, commented: "The third quarter was relatively quiet on the real estate policy front. Our primary agency business benefited from year-on-year transaction volume growth and started its turn-around in operating profitability. Our online e-commerce business, which was used by more than 11,000 home buyers during the quarter, also showed continued growth momentum. Although growth in our consulting business was lackluster during the third quarter due to continued softness in land transaction consulting and project delays, we made progress in developing new information database products that we believe will contribute to our growth next year."

Bin Laurence, E-House's CFO, added: "We achieved healthy operating income this quarter, driven by improved profitability from our primary agency business. Although we continue to operate within a relatively slow real estate industry environment, we are glad to see that the Company is on its path to improved profitability."

Financial Results for the Third Quarter and First Nine Months of 2012

Revenues

Third quarter total revenues were $136.6 million, an increase of 25% from $109.3 million for the same quarter of 2011. For the first nine months of 2012, total revenues were $309.9 million, an increase of 9% from $284.2 million for the same period of 2011.

Real Estate Brokerage Services

Real estate brokerage services include primary real estate agency services and secondary real estate brokerage services. Third quarter revenues from real estate brokerage services were $60.2 million, an increase of 35% from $44.6 million for the same quarter of 2011. For the first nine months of 2012, revenues from real estate brokerage services were $133.4 million, an increase of 5% from $127.6 million for the same period of 2011.

Third quarter revenues from primary real estate agency services were $56.0 million, an increase of 39% from $40.2 million for the same quarter of 2011. This increase was mainly due to a 35% increase in total GFA of new properties sold and a 37% increase in total transaction value of new properties sold. (See "Selected Operating Data" below for more details on total GFA and transaction value of new properties sold.)

For the first nine months of 2012, revenues from primary real estate agency services were $122.3 million, an increase of 8% from $112.8 million for the same period of 2011. This increase was mainly due to a 15% increase in total GFA of new properties sold and a 7% increase in total transaction value of new properties sold. (See "Selected Operating Data" below for more details on total GFA and transaction value of new properties sold.)

Third quarter revenues from secondary real estate brokerage services were $4.2 million, a decrease of 3% from $4.4 million for the same quarter of 2011. As of September 30, 2012, E-House had a total of 68 secondary real estate brokerage stores in four cities in China, compared to 107 stores as of September 30, 2011 and 69 stores as of June 30, 2012.

For the first nine months of 2012, revenues from secondary real estate brokerage services were $11.1 million, a decrease of 25% from $14.8 million for the same period of 2011. This decrease was mainly due to the combined effect of lower rental transaction volume and a decrease of total transaction value of secondary real estate sold, which was in turn caused by the Company's closing of a number of stores from 2011 in order to reduce costs and optimize the Company's store network.

Real Estate Online Services

Third quarter revenues from real estate online services were $52.6 million, an increase of 34% from $39.3 million for the same quarter of 2011. This increase was mainly due to revenue growth in existing and new cities that the Company entered since 2010, as well as growth in e-commerce revenues.

For the first nine months of 2012, revenues from real estate online services were $113.8 million, an increase of 25% from $90.7 million for the same period of 2011. This increase was mainly due to revenue growth in existing and new cities that the Company entered since 2010, as well as growth in e-commerce revenues.

Real Estate Information and Consulting Services

Third quarter revenues from real estate information and consulting services were $16.5 million, a decrease of 9% compared to $18.2 million for the same quarter of 2011. The decrease was mainly due to a decline in consulting services revenue, partially offset by an increase in revenues from information services.

For the first nine months of 2012, revenues from real estate information and consulting services were $41.1 million, a decrease of 12% from $46.6 million for the same period of 2011. The year-on-year decrease was primarily due to a reduction in land transaction-related consulting fees, as well as a reduction in other consulting revenues from property developments due to the weak real estate market, partially offset by an increase in revenues from information services.

Other Services

Other services include offline real estate advertising services, promotional events services and real estate fund management services. Third quarter revenues from other services were $7.3 million, compared to $7.2 million for the same quarter of 2011.

For the first nine months of 2012, revenues from other services were $21.6 million, an increase of 11% from $19.3 million for the same period of 2011. The increase was mainly due to the expansion of promotional event services in the first nine months of 2012.

Cost of Revenues

Third quarter cost of revenues was $55.3 million, an increase of 19% from $46.5 million for the same quarter of 2011, primarily due to higher commission expense for sales staff in the primary real estate agency services, higher editorial cost related to the expanded coverage of the Company's websites, and amortization of the exclusive right to sell Baidu's real estate Brand Link products to real estate developers in China starting in August 2011.

For the first nine months of 2012, cost of revenues was $142.8 million, an increase of 32% from $108.6 million for the same period of 2011, primarily due to higher salary and commission expenses for the sales staff in the primary real estate agency services, higher editorial cost related to the expanded coverage of the Company's websites, additional amortization of the exclusive right to sell Baidu's real estate Brand Link products to real estate developers in China starting in August 2011, and higher cost of promotion event services in line with the increase of revenues.

Selling, General and Administrative ("SG&A") Expenses

Third quarter SG&A expenses were $77.7 million, an increase of 12% from $69.4 million for the same quarter of 2011, primarily due to increased staff and marketing expenses for the Company's real estate online services segment.

For the first nine months of 2012, SG&A expenses were $241.6 million, an increase of 27% from $190.7 million for the same period of 2011. This increase was primarily due to increased staff-related expenses, higher rental and online marketing expenses, as well as higher bad debt provision compared to the same period last year.

Income (Loss) from Operations

Third quarter income from operations was $5.9 million, compared to loss from operations of $420.1 million for the same quarter of 2011. For the third quarter of 2011, the Company recorded a $417.8 million goodwill impairment charge of the Company's online segment. Third quarter non-GAAP income from operations was $20.6 million, an increase of 79% from $11.5 million for the same quarter of 2011.

For the first nine months of 2012, loss from operations was $68.5 million, compared to loss from operations of $427.3 million for the same period of 2011. For the first nine months of 2012, non-GAAP loss from operations was $22.0 million, compared to non-GAAP income from operations of $30.4 million in the same period of 2011.

Net Income (Loss)

Third quarter net loss was $20.1 million, compared to net loss of $425.6 million for the same quarter of 2011. Third quarter non-GAAP net loss was $6.1 million, compared to non-GAAP net income of $5.3 million for the same quarter of 2011.

For the first nine months of 2012, net loss was $65.6 million, compared to net loss of $433.1 million for the same period of 2011. Non-GAAP net loss for the first nine months of 2012 was $21.5 million, compared to non-GAAP net income of $23.6 million in the same period of 2011.

Net Income (Loss) Attributable to E-House Shareholders

Third quarter net loss attributable to E-House shareholders was $21.6 million, or $0.18 loss per diluted ADS, compared to net loss attributable to E-House shareholders of $235.3 million, or $2.97 loss per diluted ADS, for the same quarter of 2011. Third quarter non-GAAP net loss attributable to E-House shareholders was $7.8 million, or $0.07 loss per diluted ADS, compared to non-GAAP net loss attributable to E-House shareholders of $0.5 million, or $0.01 loss per diluted ADS, for the same quarter of 2011.

For the first nine months of 2012, net loss attributable to E-House shareholders was $55.3 million, or $0.54 loss per diluted ADS, compared to net loss attributable to E-House shareholders of $242.5 million, or $3.02 loss per diluted ADS, for the same period of 2011. Non-GAAP net loss attributable to E-House shareholders for the first nine months of 2012 was $17.8 million, or $0.17 loss per diluted ADS, compared to non-GAAP net income attributable to E-House shareholders of $9.2 million, or $0.11 per diluted ADS, for the same period of 2011.

Cash Flow

As of September 30, 2012, the Company had a cash balance of $167.4 million.

Third quarter 2012 net cash used in operating activities was $8.4 million. This amount was mainly attributable to non-GAAP net loss of $6.1 million, and an increase in accounts receivable of $38.4 million, offset by an increase in income and other tax payable of $27.9 million, non-cash depreciation and amortization (other than business acquisitions related) of $6.0 million and bad debt provision of $3.2 million.

Third quarter 2012 net cash used in investing activities was $13.4 million. This amount was mainly attributable to an $11.1 million payment to Baidu for the exclusive rights to sell its real estate Brand Link products in China and $2.8 million for purchase of property and equipment.

Third quarter 2012 net cash proceeds from financing activities was $0.2 million.

Business Outlook

The Company currently estimates that its revenues for the fiscal year ending December 31, 2012 will be in the range of $440 million to $460 million, an increase of 10% to 15% from $401.6 million in 2011. This updated annual revenue guidance reflects the Company's expectation that growth in online advertising will be softer than expected in the fourth quarter amid challenging overall macroeconomic environment.

Conference Call Information

E-House's management will host an earnings conference call on November 15, 2012 at 7:30 a.m. U.S. Eastern Time (8:30 p.m. Beijing/Hong Kong time).

Dial-in details for the earnings conference call are as follows:

U.S./International: +1-718-354-1231
Hong Kong:          +852-2475-0994
Mainland China:    800-819-0121

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "E-House earnings call."

A replay of the conference call may be accessed by phone at the following number until November 22, 2012:

International:  +1-646-254-3697
Passcode:     64358887

Additionally, a live and archived webcast will be available at http://ir.ehousechina.com.

About E-House

E-House (China) Holdings Limited ("E-House") (NYSE: EJ) is China's leading real estate services company with a nationwide network covering more than 230 cities. E-House offers a wide range of services to the real estate industry, including online advertising, primary sales agency, secondary brokerage, information and consulting, offline advertising and promotion and real estate investment management services. E-House has received numerous awards for its innovative and high-quality services, including "China's Best Company" from the National Association of Real Estate Brokerage and Appraisal Companies and "China Enterprises with the Best Potential" from Forbes. For more information about E-House, please visit http://www.ehousechina.com.

Safe Harbor: Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "intend," "confident," "is currently reviewing," "it is possible," "subject to" and similar statements. Among other things, the Business Outlook section and quotations from management in this press release, as well as E-House's strategic and operational plans, contain forward-looking statements. E-House may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, including Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about E-House's beliefs and expectations, are forward-looking statements and are subject to change. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements in this press release. Potential risks and uncertainties include, but are not limited to, a severe or prolonged downturn in the global economy, E-House's susceptibility to fluctuations in the real estate market of China, government measures aimed at China's real estate industry, failure of the real estate services industry in China to develop or mature as quickly as expected, diminution of the value of E-House's brand or image, E-House's inability to successfully execute its strategy of expanding into new geographical markets in China, E-House's failure to manage its growth effectively and efficiently, E-House's failure to successfully execute the business plans for its strategic alliances and other new business initiatives, E-House's loss of its competitive advantage if it fails to maintain and improve its proprietary CRIC system or to prevent disruptions or failure in the system's performance, E-House's failure to compete successfully, fluctuations in E-House's results of operations and cash flows, E-House's reliance on a concentrated number of real estate developers, natural disasters or outbreaks of health epidemics and other risks outlined in E-House's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of this press release, and E-House does not undertake any obligation to update any such information, except as required under applicable law.

About Non-GAAP Financial Measure

To supplement E-House's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), E-House uses in this press release the following non-GAAP financial measures: (1) income (loss) from operations, (2) net income (loss), (3) net income (loss) attributable to E-House shareholders, (4) net income (loss) attributable to E-House shareholders per basic ADS, and (5) net income (loss) attributable to E-House shareholders per diluted ADS, each of which excludes share-based compensation expense, amortization of intangible assets resulting from business acquisitions, goodwill impairment charge and gain/(loss) from the disposal of subsidiaries. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release.

E-House believes that these non-GAAP financial measures provide meaningful supplemental information to investors regarding its operating performance by excluding share-based compensation expense, amortization of intangible assets resulting from business acquisitions, goodwill impairment charge and gain/(loss) from the disposal of subsidiaries, which may not be indicative of E-House's operating performance. These non-GAAP financial measures also facilitate management's internal comparisons to E-House's historical performance and assist its financial and operational decision making. A limitation of using these non-GAAP financial measures is that share-based compensation expense, amortization of intangible assets resulting from business acquisitions, goodwill impairment charge and gain/(loss) from the disposal of subsidiaries are recurring expenses that may continue to exist in E-House's business for the foreseeable future. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliation between non-GAAP financial measures and their most comparable GAAP financial measures.

For investor and media inquiries please contact:

In China

Michelle Yuan
Director of Investor Relations
E-House (China) Holdings Limited
Phone: +86 (21) 6133-0754
E-mail: [email protected]

Derek Mitchell
Ogilvy Financial, Beijing
Phone: +86 (10) 8520-3073
E-mail: [email protected]

In the U.S.

Jessica Barist Cohen
Ogilvy Financial, New York
Phone: +1 (646) 460-9989
E-mail: [email protected]

 

 

E-HOUSE (CHINA) HOLDINGS LIMITED

UNAUDITED CONSOLIDATED BALANCE SHEET

(In thousands of U.S. dollars)

 




December 31,


 September 30,




2011


2012

ASSETS










Current assets










Cash and cash equivalents




392,005




167,370


Restricted cash




2,582




2,066


Marketable securities




7,982




6,696


Customer deposits




56,168




82,353


Accounts receivable, net




244,081




281,866


Properties held for sale




1,287




1,279


Deferred tax assets




22,078




22,032


Prepaid expenses and other current assets




21,818




20,729


Amounts due from related parties




1,501




355


Total current assets




749,502




584,746


Property and equipment, net




27,976




40,571


Intangible assets, net




213,263




184,133


Investment in affiliates




32,484




31,829


Goodwill




49,328




49,259


Customer deposits, non-current




26,586




26,819


Other non-current assets




44,559




41,400


Total assets




1,143,698




958,757












LIABILITIES AND EQUITY










Current liabilities










Accounts payable




5,686




3,039


Accrued payroll and welfare expenses




50,581




49,636


Income tax payable




45,762




35,884


Other tax payable




19,252




21,779


Amounts due to related parties




1,775




5,392


Advance from property buyers




2,194




2,026


Deferred revenue




11,499




13,015


Liability for exclusive rights, current




13,831




16,554


Other current liabilities




25,517




22,778


Total current liabilities




176,097




170,103


Deferred tax liabilities




40,109




40,102


Liability for exclusive rights, non-current




21,408




5,773


Other non-current liabilities




1,716




1,339


Total liabilities




239,330




217,317


Equity










Ordinary shares ($0.001 par value): 1,000,000,000 and 1,000,000,000 shares authorized, 79,065,624 and 118,034,273  shares issued and outstanding, as of December 31, 2011 and September 30, 2012 respectively




79




118


Additional paid-in capital




688,094




848,504


Subscription receivables




-




(85)


Accumulated deficit




(101,064)




(168,021)


Accumulated other comprehensive income




46,253




50,694


Total E-House equity




633,362




731,210


Non-controlling interests




271,006




10,230


Total equity




904,368




741,440


TOTAL LIABILITIES AND EQUITY




1,143,698




958,757



 

E-HOUSE (CHINA) HOLDINGS LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands of U.S. dollars, except share data and per share data)

 



Three months ended


Nine months ended



September 30,


September 30,



2011


2012


2011


2012

Revenues



109,301




136,586




284,226




309,858


Cost of revenues



(46,462)




(55,334)




(108,603)




(142,840)


Selling, general and administrative expenses



(69,434)




(77,734)




(190,716)




(241,551)


Goodwill impairment charge



(417,822)




-




(417,822)




-


Other operating income



4,299




2,376




5,635




6,032


Income (Loss) from operations



(420,118)




5,894




(427,280)




(68,501)


Interest income



636




264




1,948




1,385


Other loss, net



(8,522)




(2,243)




(12,358)




(2,764)


Income (Loss) before taxes, and equity in affiliates



(428,004)




3,915




(437,690)




(69,880)


Income tax benefit (expense)



2,460




(24,137)




5,120




4,157


Loss before equity in affiliates



(425,544)




(20,222)




(432,570)




(65,723)


Income (Loss) from equity in affiliates



(26)




159




(496)




109


Net loss



(425,570)




(20,063)




(433,066)




(65,614)


Less: net income (loss) attributable to non-controlling interests



















(190,288)




1,521




(190,574)




(10,324)


Net loss attributable to E-House shareholders



(235,282)




(21,584)




(242,492)




(55,290)



















Loss per share:

















Basic



(2.97)




(0.18)




(3.02)




(0.54)


Diluted



(2.97)




(0.18)




(3.02)




(0.54)


Shares used in computation:

















Basic



79,087,425




117,977,005




80,210,915




102,145,265


Diluted



79,087,425




117,977,005




80,210,915




102,145,265



















Note 1

The conversion of Renminbi ("RMB") amounts into USD amounts is based on the rate of USD1 = RMB6.3410 on September 30, 2012 and USD1 = RMB6.3357 for the three months ended September 30, 2012.



 

E-HOUSE (CHINA) HOLDINGS LIMITED


UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME


(In thousands of U.S. dollars)

 




Three months ended


Nine months ended




September 30,


September 30,




2011


2012


2011


2012












Net loss


(425,570)


(20,063)


(433,066)


(65,614)












Other comprehensive income (loss), net of tax:










Foreign currency translation adjustment


8,869


(893)


19,667


(2,745)


Comprehensive loss


(416,701)


(20,956)


(413,399)


(68,359)












Less: Comprehensive income (loss) attributable to non-controlling interests


(188,182)


1,423


(186,202)


(10,520)


Comprehensive loss attributable to E-House shareholders


(228,519)


(22,379)


(227,197)


(57,839)













E-HOUSE (CHINA) HOLDINGS LIMITED

Unaudited Reconciliation of GAAP and Non-GAAP Results

(In thousands of U.S. dollars, except share data and per ADS data)

 



Three months ended


Nine months ended



September 30,


September 30,




2011



2012



2011


2012

GAAP income (loss) from operations



(420,118)



5,894



(427,280)


(68,501)

Share-based compensation expense



8,155



9,006



23,690


29,311

Amortization of intangible assets resulting from  business acquisitions



5,645


5,737



16,215


17,212

Goodwill impairment charge



417,822



-



417,822


-

Non-GAAP income (loss) from operations



11,504



20,637



30,447


(21,978)













GAAP net loss



(425,570)



(20,063)



(433,066)


(65,614)

Share-based compensation expense (net of tax)



8,155



9,006



23,690


29,311

Amortization of intangible assets resulting from business acquisitions (net of tax)



4,853



4,934



14,074


14,801

Loss from the disposal of subsidiaries  (net of tax)



-



-



1,054


-

Goodwill impairment charge



417,822



-



417,822


-

Non-GAAP net income (loss)



5,260



(6,123)



23,574


(21,502)













Net loss attributable to E-House Shareholder



(235,282)



(21,584)



(242,492)


(55,290)

Share-based compensation expense (net of tax and non-controlling interests)



5,995



9,006



 

17,516


25,904

Amortization of intangible assets resulting from business acquisitions (net of tax and non-controlling interests)



2,593



4,776



 

7,463


11,558

Loss from disposal of subsidiaries (net of tax and non-controlling interests)



-



-



565


-

Goodwill impairment charge (net of non-controlling interests)



226,183



-



226,183


-

Non-GAAP net income (loss) attributable to E-House shareholders

 



(511)



(7,802)



9,235


(17,828)













GAAP net loss per ADS -- basic



(2.97)



(0.18)



(3.02)


(0.54)













GAAP net loss per ADS -- diluted



(2.97)



(0.18)



(3.02)


(0.54)













Non-GAAP net income (loss) per ADS -- basic



(0.01)



(0.07)



0.12


(0.17)













Non-GAAP net income (loss) per ADS -- diluted



(0.01)



(0.07)



0.11


(0.17)













Shares used in calculating basic GAAP / non-GAAP net income (loss) attributable to shareholders per ADS



79,087,425



117,977,005



 

80,210,915


102,145,265













Shares used in calculating diluted GAAP net loss attributable to shareholders per ADS



79,087,425



117,977,005



80,210,915


102,145,265

Shares used in calculating diluted non-GAAP net income (loss) attributable to shareholders per ADS



 

79,087,425



 

117,977,005



 

80,688,211


 

102,145,265


 

 

E-HOUSE (CHINA) HOLDINGS LIMITED

SELECTED OPERATING DATA

 



Three months ended


Nine months ended



September 30,


September 30,



2011


2012


2011


2012

Primary real estate agency service













Total Gross Floor Area ("GFA") of new properties sold (thousands of square meters)



3,576




4,825



9,216


10,569

Total value of new properties sold (millions of RMB)



29,622




40,698



81,725


87,303

Total value of new properties sold (millions of $)



4,641




6,429



12,600


13,812

 



 

 

SOURCE E-House (China) Holdings Limited

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The Internet of Things (IoT) is causing data centers to become radically decentralized and atomized within a new paradigm known as “fog computing.” To support IoT applications, such as connected cars and smart grids, data centers' core functions will be decentralized out to the network's edges and endpoints (aka “fogs”). As this trend takes hold, Big Data analytics platforms will focus on high-volume log analysis (aka “logs”) and rely heavily on cognitive-computing algorithms (aka “cogs”) to make sense of it all.
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.
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. In his session at @ThingsExpo, Gary Hall, Chief Technology Officer, Federal Defense at Cisco Systems, will break down the core capabilities of IoT in multiple settings and expand upon IoE for bo...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
The 3rd International @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 - is now accepting submissions to demo smart cars on the Expo Floor. Smart car sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem.
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...
SYS-CON Events announced today that SoftLayer, an IBM company, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015 at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place November 3–5, 2015 at the Santa Clara Convention Center in Santa Clara, CA. SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from ...
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. Learn about IoT, Big Data and deployments processing massive data volumes from wearables, utilities and other machines.
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
The 16th International Cloud Expo has announced that its Call for Papers is open until February 28, 2015. 16th International Cloud Expo, to be held June 9-11, 2015, at the Javits Center in New York City brings together Cloud Computing, APM, APIs, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!