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Deyu Agriculture Corp. Announces Third Quarter 2012 Results and Schedules Results Conference Call and Webcast

BEIJING, Nov. 15, 2012 /PRNewswire-FirstCall/ -- Deyu Agriculture Corp. (OTCBB: DEYU) (the "Company"), a Shanxi Province, China based vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains, today announced its financial results for the third quarter ended September 30, 2012.

Third Quarter (Q3) Highlights:

For Q3 of Fiscal 2012 as compared to the same period in 2011:

  • sales in the Grain Division improved 45.2% to $17.42 million
  • gross margin increased from 15.1% to 18.1%

For Q3 of Fiscal 2012 as compared to Q2 of Fiscal 2012:

  • revenue increased 1.1% to $56.5 million
  • net income rose 23.9% to $3.49 million
  • earnings per diluted share increased 21.7% to $0.28

Summarized Q3 2012 Results as compared to Q3 2011 Results:


Q3 2012

Q3 2011

CHANGE

Revenue

$56.5 million

$84.4 million

(33.1)%

Gross profit

$10.2 million

$12.7 million

(19.8)%

Net Income*

$3.5 million

$7.6 million

(53.9)%

EPS (Diluted)**

$0.28

$0.61

(54.1)%


* Represents net income available to common stockholders.

 

**Earnings per diluted share for the quarter of $0.28 on 12.6 million shares. For Q3 2011, the Company reported fully diluted earnings per share of $0.61 on 12.52 million shares.

Financial Results for Q3 2012 as compared to Q2 2012:


Q3 2012

Q2 2012

CHANGE

Revenue

$56.5 million

$55.8 million

1.1%

Gross profit

$10.2 million

$10.5 million

(2.7)%

Net Income*

$3.5 million

$2.8 million

23.9%

EPS (Diluted)**

$0.28

$0.23

21.7%


* Represents net income available to common stockholders.

 

**Earnings per diluted share for the quarter of $0.28 on 12.6 million shares. For Q2 2012, the Company reported fully diluted earnings per share of $0.23 on 12.6 million shares.

"We are repositioning ourselves to be a more integrated agriculture company in China, not only as one of China's largest wholesalers of corn and grain products, but also as one of the country's leading brands of grain products for the consumer market," said Jianming Hao, Chief Executive Officer of the Company. "In view of this goal, we are glad to see that our recent acquisition, the Taizihu Group, which has a diversified product line of 100 types of grain products, contributed $5.7 million in revenues this past quarter. To further penetrate the consumer market, we are also currently exploring strategies that tap into China's emerging commercial sales market for health foods."

"In Q3 of last year, we were able to achieve record levels in our revenue and net profit with $12.1 million of bank loans and $28.5 million of bank notes," Mr. Hao continued. "However, this year, our management team has taken a more sustainable approach to our operations by decreasing our overall borrowings from banks from an aggregate of $40.6 million as of Q3 2011 to about $11.2 million as of Q3 2012.  This primarily reflected a reduction in bank notes from $28.5 million as of Q3 2011 to $0 as of Q3 2012. We believe such approach significantly reduced our financial risks, especially considering the current global economy downturn. Even though our Q3 2012 results were impacted by a decrease in working capital supported by bank borrowings, we are confident that this strategic move can benefit the Company and our shareholders in the long run. Even with this shift in strategy, we were able to achieve growth in our revenue and net income from Q2 2012 to Q3 2012."

"This has been a transformative couple of months for our Company, as we recently elected a new President, Greg Chen, as well as increased our Board with the additions of Greg and Jan Poulsen," Mr. Hao added. "With Greg's experience in developing brands and companies in China, and Jan's twenty-plus years of experience in both asset management and business development within the food and beverage industries, we are confident that we can continue to build on our recent quarter over quarter progress."

Third Quarter 2012 Financial Results

Net revenue for Q3 2012 was $56.5 million compared with $84.4 million for Q3 2011, a decrease of $27.9 million, or 33.1%. Net revenue from the Company's Corn Division for Q3 2012 was approximately $34.9 million, a decrease of $27.3 million, or approximately 43.9%, as compared to Q3 2011, which was primarily due to the reduction of working capital for inventory procurement supported by bank loans and bank notes, which was reduced from an average balance of $38.1 million to $6.0 million for sustaining businesses. Net revenue from the Company's Grain Division for Q3 2012 was $17.4 million, an increase of $5.4 million, or 45.2%, as compared to Q3 2011. The increase was attributable to an increase of $5.7 million of sales revenue added by the Taizihu Group. Net Revenue from the Company's Bulk Trading Division for Q3 2012 was $4.2 million, a decrease of $6.0 million, or 59.1% as compared to Q3 2011. This decrease was mainly attributable to the strategic reduction of certain portions of the Company's bulk trade business by shifting more financial resources to the Company's Corn Division and Grain Division.

The Company's gross profit decreased by $2.5 million, or 19.8%, from $12.7 million for Q3 2011 to $10.2 million for Q3 2012. The decrease was a combined result of a decrease of $3.9 million in the Corn Division, an increase of $1.6 million in the Grain Division and a decrease of $0.2 million in the Bulk Trading Division. The Company's gross margin increased from 15.1% in Q3 2011 to 18.1% in Q3 2012. Gross margin for the Corn Division was 15.4% for Q3 2012, up by 54 basis points from 14.8% for Q3 2011, which was mainly attributable to the Company's gross margin management. Gross margin for the Grain Division was 26.4% for Q3 2012, an increase of 100 basis points from 25.4% for Q3 2011, which was mainly attributable to the additions of new product portfolios containing mixed gross margins, which targeted a wider scope of end consumers.

The Company's operating expenses increased $1.3 million or 28.5% to $6.1 million for Q3 2012 as compared to $4.8 million for Q3 2011. This increase was due to the increase of freight charges for product deliveries and advertisement expenses spent on brand promotion, expenses added by the Taizihu Group, increased depreciation and amortization caused by newly-acquired buildings as well as increased payroll and other expenses caused by inflation.

Net income available to common stockholders of $3.5 million for Q3 2012 compared to a net income of $7.6 million for Q3 2011, a decrease of $4.1 million, or 53.9%.

Recent Updates

In August 2012, the Company reached an agreement with Beijing Suning Appliance Co., Ltd. ("Suning") to supply Suning with refined packaged grain goods valued at RMB115.9 million (approximately $18.4 million). Suning is one of the largest electrical and electronic appliance retailers in China, with 1,700 chain stores of annual sales of $15 billion (RMB 93.9 billion) in 2011. With the demand from the commercial sales market for health foods growing in China, particularly for refined packaged products, the Company plans to continue developing more strategic institutional clients to further enter into the commercial sales segment.

Effective October 11, 2012, the Company's Board expanded the number of members serving on the Board from five to seven in accordance with the Company's Bylaws, and subsequently filled the vacancies created by the expansion by appointing Greg Chen and Jan Poulsen to serve on the Board until the next following annual meeting of the stockholders of the Company, at which such directors shall be eligible for election by the stockholders.

Additionally, Mr. Chen was appointed the President of the Company, where his responsibilities shall include assisting the Company with its international and domestic market development, enhancing the Company's investor relations programs and the execution of those programs and assisting the Company with its corporate and operational strategies and business planning.

Also effective October 11, 2012, Mr. Longjiang Yuan resigned as a member of the Company's Audit Committee, and Mr. Poulsen was appointed to serve on the Audit Committee. Mr. Yuan will still serve as a Board member of the Company.

Also in October 2012, the Company announced that it is launching a series of investor relations programs in the near future geared toward increasing awareness in the investment community of the Company and maximizing shareholder value.

Business Outlook

"We are optimistic about our future and our team is ready to make the most of the opportunities that we see on the horizon," said Mr. Hao. "In recent years, we have accumulated ample resources and advantages through our vertical value chain from farmland to consumer market, reinforced by our advanced production capacities, large warehousing facilities, exclusive logistic infrastructures and extensive sale network. Today, our sales network covers around 20,000 supermarkets and convenience stores across China, with distribution in over 29 provinces in the nation, including key metropolitan areas like Beijing, Tianjin, Jinan, Fuzhou, Chengdu and Shijiazhuang. Importantly, our products are being presented in some supermarket chains under major global brands. Overall, our mission is to grow into a global leader in vertical agricultural value chains, providing diversified product lines delivered to commercial and consumer markets."

"To further grow our business, we plan on extending our operations to other producing areas of corn and grain such as Hebei and Jilin Provinces," Mr. Hao continued. "Moreover, we intend to boost commercial sales to institutional clients, particularly in the grain products for the consumer market. We are also carefully considering vertical or horizontal acquisitions for our business growth, although we do not currently have any agreements in place to do so at this time. While we strive to reach these goals, we will continue to develop a diversified vertical agricultural value chain by adding more food products to our product lines and utilizing available global resources and organic certifications to expand through exporting into the US and other regions. 2012 has been a transformative year for our growing company and I am confident that we now have the right people and strategies in place to drive our growth and in effect, better reward the Company's shareholders."

Conference Call

The Company will host a conference call on November 20, 2012 at 8:30 AM EST to discuss the Company's results for the third quarter ended September 30, 2012.

To join the conference call, use the dial-in information below. When prompted, ask for the "Deyu Agriculture Call" and/or be prepared to provide the conference ID.

Date:

11/20/2012

Time:

8:30 AM Eastern

Conference Line Dial-In (US):

877-407-9205

International Dial-In:

201-689-8054

Conference ID#:

404045

Webcast Link:

http://www.investorcalendar.com/IC/CEPage.asp?ID=170257

Dial in at least 10 minutes before the call to ensure timely participation. A playback will be available until 11:59 PM December 4, 2012. To listen, please call 877-660-6853 within the United States or 201-612-7415 if calling internationally.

Utilize the pass code below for replay (both required)

Account#:

286

Conference ID#:

404045

About Deyu Agriculture

Deyu Agriculture Corp. is a vertically integrated agricultural value chain from farmland to consumer market, which produces, processes, markets and distributes organic and other agricultural products made from corn and grains operating in Shanxi Province in China. The Company has access to over 109,000 acres of farmland in Shanxi Province for breeding, cultivating, processing, warehousing and distributing grain and corn products. Deyu Agriculture Corp. has an extensive wholesale network in over 15 provinces and a retail distribution network of approximately 20,000 supermarkets and convenience stores in 29 provinces across China. Deyu Agriculture Corp.'s facilities include sophisticated production lines and modern warehouses with a total production capacity of over 105,000 tons for grain products, storage capacity of over 100,000 tons and annual turnover of 700,000 tons for corn products. The Company's website is located at www.deyuagri.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Deyu Agriculture Corp.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in China, general economic conditions; geopolitical events and regulatory changes, availability of capital, changes in the agricultural industry, the Company's ability to maintain its competitive position. Additional Information regarding risks can be found in the Company's quarterly and annual reports filed with the U.S. Securities and Exchange Commission at www.sec.gov.

Company Contact:

Deyu Hotline: +1-646-499-5475

Mr. Greg Chen, President
Deyu Agriculture Corp.
Tel: +1-646-820-8085
Email: [email protected]

Ms. Amy He, Chief Financial Officer
Deyu Agriculture Corp.
Tel: +86-10-5224-1802 X389
Email: [email protected]

Investor Contact:

Mr. Kevin Ma
NUWA Group LLC
Tel: +1-212-984-1869
Email: [email protected]

- Financial Tables Follow -

 

DEYU AGRICULTURE CORP AND SUBSIDIARIES


CONSOLIDATED BALANCE SHEETS

 




September 30, 2012



December 31, 2011




(Unaudited)



(Audited)


Assets









Current Assets









Cash and cash equivalents


$

11,963,208



$

8,741,703


Restricted cash



982,593




1,850,999


Accounts receivable, net



27,658,431




36,167,136


Due from related parties



196,745




587,108


Inventory



26,741,018




20,314,090


Advance to supplier



5,077,232




7,233,371


Prepaid expenses



379,116




391,537


Assets held for sale






1,634,274


Other current assets



440,397




2,204,934


Total Current Assets



73,438,740




79,125,152











Property, plant, and equipment, net



19,621,491




12,355,946


Construction-in-progress



2,638,347





Long-term Investment



57,918





Other assets






727,535


Intangible assets, net



13,335,500




10,651,844











Total Assets


$

109,091,996



$

102,860,477











Liabilities and Equity


















Current Liabilities









Short-term loan


$

11,196,379



$

14,413,480


Accounts payable



2,165,152




1,833,190


Note payables






1,588,840


Advance from customers



2,278,185




8,488,272


Accrued expenses



1,584,246




1,149,205


Tax payable



253,503





Preferred stock dividends payable



113,235




219,721


Due to related parties



7,356,286




5,445,115


Other current liabilities



1,813,668




583,196


Total Current Liabilities



26,760,654




33,721,019











Equity









Series A convertible preferred stock, $.001 par value, 10,000,000 shares authorized,  2,039,970 and 1,997,467 shares outstanding, respectively



2,040




1,997


Common stock, $.001 par value; 75,000,000 shares authorized, 10,658,266 and 10,544,774 shares outstanding, respectively



10,658




10,565


Additional paid-in capital



20,910,876




20,367,138


Other comprehensive income



5,018,518




4,831,354


Retained earnings



55,996,699




43,491,464


Total Stockholders' Equity



81,938,791




68,702,518


Noncontrolling Interests



392,551




436,940


Total Equity



82,331,342




69,139,458











Total Liabilities and Equity


$

109,091,996



$

102,860,477


 

 

 

DEYU AGRICULTURE CORP AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


(UNAUDITED)

 




For The Three Months Ended



For The Nine Months Ended




September 30,



September 30,




2012



2011



2012



2011















Net revenue


$

56,472,324



$

84,379,681



$

175,048,803



$

170,482,201


Cost of goods sold



(46,256,954)




(71,643,030)




(141,911,226)




(140,985,703)


Gross Profit



10,215,370




12,736,651




33,137,577




29,496,498



















Selling expenses



(3,795,367)




(3,165,190)




(11,926,786)




(8,188,037)


General and administrative expenses



(2,311,508)




(1,586,847)




(6,276,679)




(4,398,667)


Total Operating Expenses



(6,106,875)




(4,752,037)




(18,203,465)




(12,586,704)


Operating income



4,108,495




7,984,614




14,934,112




16,909,794



















Interest income



7,242




4,387




24,918




30,848


Interest expense



(330,771)




(269,725)




(1,260,810)




(481,549)


Non-operating income



(7,063)




26,981




569,587




36,273


Total Other Expenses



(330,592)




(238,357)




(666,305)




(414,428)



















Income from continuing operations before income taxes



3,777,903




7,746,257




14,267,807




16,495,366


Income taxes



(184,485)




(541,464)




(1,475,181)




(28,959)


Income from continuing operations



3,593,418




7,204,793




12,792,626




16,466,407


Loss from discontinued operations, net of income taxes






681,712







(2,886,430)



















Net income



3,593,418




7,886,505




12,792,626




13,579,977



















Net loss attributable to noncontrolling interests:

















Net loss from continuing operations



3,826




1,934




44,695




1,934


Net loss from discontinued operations






(247,339)







738,374


Total net loss attributable to noncontrolling interests



3,826




(245,405)




44,695




740,308


Net income attributable to Deyu Agriculture Corp.



3,597,244




7,641,100




12,837,321




14,320,285


Preferred stock dividends



(112,035)




(83,404)




(332,087)




(313,550)


Net income available to common stockholders



3,485,209




7,557,696




12,505,234




14,006,735


Foreign currency translation (loss) gain



822,431




917,581




187,472




1,887,420


Comprehensive income



4,307,640




8,475,277




12,692,706




15,894,155


Other comprehensive income attributable to noncontrolling interests



(4,157)




(47,881)




(306)




(91,952)


Comprehensive income attributable to Deyu Agriculture Corp.


$

4,303,483



$

8,427,396



$

12,692,400



$

15,802,203



















Amounts attributable to common stockholders:

















Net income from continuing operations, net of income taxes


$

3,485,209



$

7,123,323



$

12,505,234



$

16,154,791


Discontinued operations, net of income taxes






434,373







(2,148,056)


Net income attributable to common stockholders


$

3,485,209



$

7,557,696



$

12,505,234



$

14,006,735



















Net income attributable to common stockholders per share - basic:

















Income from continuing operations


$

0.33



$

0.68



$

1.18



$

1.54


Loss from discontinuing operations






0.04







(0.20)


Net income attributable to common stockholders


$

0.33



$

0.72



$

1.18



$

1.34



















Net income attributable to common stockholders per share - diluted:

















Income from continuing operations


$

0.28



$

0.58



$

1.02



$

1.32


Loss from discontinuing operations






0.03







(0.17)


Net income attributable to common stockholders


$

0.28



$

0.61



$

1.02



$

1.15



















Weighted average number of common shares outstanding - basic



10,604,081




10,544,774




10,578,570




10,514,243


Weighted average number of common shares outstanding - diluted



12,632,585




12,522,039




12,585,860




12,481,313


 

 

DEYU AGRICULTURE CORP AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF CASH FLOWS


(UNAUDITED)

 




For The Nine Months Ended




September 30,




2012



2011


CASH FLOWS FROM OPERATING ACTIVITIES









Net income available to common stockholders


$

12,505,234



$

14,006,735


Loss from discontinued operations attributable to Deyu Agriculture Corp.






2,886,430


Adjustments to reconcile net income to net cash provided by operating activities:









Depreciation & amortization



1,801,515




676,807


Allowance for doubtful accounts



16,314





Reserve for inventory valuation






76,963


Share-based compensation



250,290




412,745


Preferred stock dividends accrued



332,087




322,180


Common stocks issued for services



114,400




43,050


Grain on bargain purchase



(499,079)





Deferred income tax expense (benefit)



875,706




26,234


Noncontrolling interests



(44,695)




(1,934)


Decrease (increase) in current assets:









Accounts receivable



8,616,800




(16,598,485)


Related-parties trade receivable



466,980




(206,999)


Inventories



(5,060,976)




(9,949,227)


Advance to suppliers



2,988,738




(1,763,486)


Prepaid expense and other current assets



907,358




(187,423)


Increase (decrease) in liabilities:









Accounts payable



8,987




2,087,140


Advance from customers



(6,415,884)




(2,561,976)


Accrued expense and other liabilities



517,019




277,194


Net cash provided by (used in) operating activities of continuing operations



17,380,794




(10,454,052)


Net cash used in operating activities of discontinued operations






(2,855,969)


Net cash provided by (used in) operating activities



17,380,794




(13,310,021)











CASH FLOWS FROM INVESTING ACTIVITIES









Consideration paid for acquisition



(5,166,095)





Construction and remodeling of factory and warehouses



(312,588)




(109,287)


Purchase of machinery and equipment



(47,829)




(458,214)


Advances to related parties



(78,604)





Cash held by the Taizihu Group at acquisition date



20,272





Net cash used in investing activities of continuing operations



(5,584,844)




(567,501)


Net cash used in investing activities of discontinued operations






(2,183,644)


Net cash used in investing activities



(5,584,844)




(2,751,145)











CASH FLOWS FROM FINANCING ACTIVITIES









Cash released from restriction (restricted) for credit line of bank acceptance notes



1,104,382




(11,676,877)


Net (repayments of) proceeds from short-term loans from bank and others



(9,690,871)




9,235,600


Net (repayments of) proceeds from short-term bank acceptance notes



(1,579,604)




27,971,554


Net proceeds from short-term loans from related parties



1,812,544




5,009,698


Payment of preferred dividends



(266,795)




(242,418)


Net proceeds from short-term loan from others






(883,591)


Proceeds from capital contributions






461,780


Release of cash restricted held at a trust account






125,560


Net cash (used in) provided by financing activities of continuing operations



(8,620,344)




30,001,306


Net cash provided by financing activities of discontinued operations






4,993,433


Net cash (used in) provided by financing activities



(8,620,344)




34,994,739











EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS



45,899




547,575











NET (DECREASE) INCREASE IN CASH & CASH EQUIVALENTS



3,221,505




19,481,148


NET DECREASE IN CASH & CASH EQUIVALENTS FROM DISCONTINUED OPERATIONS






(29,987)


NET (DECREASE) INCREASE IN CASH & CASH EQUIVALENTS FROM CONTINUING OPERATIONS



3,221,505




19,511,135











CASH & CASH EQUIVALENTS, BEGINNING BALANCE



8,741,703




5,791,418


CASH & CASH EQUIVALENTS, ENDING BALANCE


$

11,963,208



$

25,302,553











SUPPLEMENTAL DISCLOSURES:









Income tax paid


$

180,705



$

46


Interest paid


$

765,725



$

349,259


NONCASH INVESTING AND FINANCING ACTIVITIES:









Construction completed and transferred to property, plant, and equipment


$



$

5,762,034


Construction completed and transferred to land use rights


$



$

2,308,900


Note: Please refer to the Company's quarterly report on Form 10-Q for the three months ended September 30, 2012 for additional notes, which are an integral part of these consolidated financial statements

SOURCE Deyu Agriculture Corp.

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One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, will describe an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people’s real needs and desires.
SYS-CON Events announced today that TeleStax, the main sponsor of Mobicents, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TeleStax provides Open Source Communications software and services that facilitate the shift from legacy SS7 based IN networks to IP based LTE and IMS networks hosted on private (on-premise), hybrid or public clouds. TeleStax products include Restcomm, JSLEE, SMSC Gateway, USSD Gateway, SS7 Resource Adaptors, SIP Servlets, Rich Multimedia Services, Presence Services/RCS, Diame...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. 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--computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridsto...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at Internet of @ThingsExpo, Andrew Bolwell, Director of Innovation for HP’s Printing and Personal Systems Group, will discuss how key attributes of mobile technology – touch input, senso...
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.