Click here to close now.




















Welcome!

Microsoft Cloud Authors: Elizabeth White, Adine Deford, the Editor, Michael Krems, Xenia von Wedel

News Feed Item

Cogo Reports Highest Ever Quarterly Revenue

- Q3 Net Revenue: $216.4 million in accordance with Generally Accepted Accounting Principles ("GAAP") (a year-over-year increase of 47.8%) and Diluted Earnings per share ("EPS") attributable to Cogo Group, Inc. of $0.01 GAAP and $0.11 Non-GAAP (a year-ove

SHENZHEN, China, Nov. 15, 2012 /PRNewswire/ -- Cogo Group, Inc. (NASDAQ: COGO) ("Cogo" or the "Company"), one of the leading gateways for global semiconductor companies to access the industrial and technology markets in China, today announced unaudited financial results for its third quarter ended September 30, 2012. The Company reported quarterly revenue of $216.4 million, up 47.8% year-over-year compared to $146.4 million reported in the third quarter of 2011.

Jeffrey Kang, CEO and Chairman of Cogo, commented, "During the third quarter of 2012, we continued to see strong revenue growth across all of our end-markets, particularly among our blue chip customers.  The credit situation for our SME customers remains tight and the increase in revenue to SME customers continues to negatively affect our gross margin and we continue to see higher operating costs as we attempt to drive scale in this uncertain macro environment.  Still, we managed to stay solidly profitable.  In the quarter, Cogo grew its customer base by nearly 10% from the prior quarter to 2,300."

Mr. Kang continued, "Additionally, from September 24, 2012 to November 14, 2012, Cogo purchased 302,164 shares of its common stock, as a clear demonstration of the Company's belief that shares of Cogo are under-valued and trading at approximately 40% of the Company's tangible book value of over $6.00 per share."

Mr Kang said, "Finally, I am pleased to announce that my purchase of certain Cogo subsidiaries for $78 million was completed today.   I believe that this will be an important milestone towards demonstrating the legitimacy of Cogo's financial assets."

Financial Results

Net income attributable to Cogo Group, Inc. for the third quarter of 2012 was $0.5 million, down 77.4% from $2.3 million reported in the same period in 2011, with Non-GAAP net income attributable to Cogo Group, Inc. of $4.0 million, down 32.2% from $5.9 million reported for the same period in 2011. Diluted EPS attributable to Cogo Group, Inc. on a U.S. GAAP basis was $0.01, and Non-GAAP Diluted EPS attributable to Cogo Group, Inc. was $0.11, down by 83.3% and 31.3% respectively from the third quarter of 2011.

Key Financial Indicators

(all numbers in USD thousands, except share data)






Q3 2012(1)

(unaudited)

Q3 2011(1)

(unaudited)

Percentage
Change

Net Revenue

$216,443

$146,428

47.8%

Cost of Sales

$202,941

$131,269

54.6%

Gross Profit

$13,502

$15,159

-10.9%

Operating Expenses

$10,874

$11,813

-7.9%

Net Income attributable to Cogo Group, Inc.

$519(2)

$2,296

-77.4%

Diluted EPS attributable to Cogo Group, Inc.

$0.01

$0.06

-83.3%

Non-GAAP Diluted EPS attributable to Cogo Group, Inc.

$0.11

$0.16

-31.3%

 

(1)

The US dollar ("USD") amounts are calculated based on the conversion rate of $1 to RMB6.2848 as of September 30, 2012 and $1 to RMB6.3780 as of September 30, 2011.

(2)

Included in the Q3 2012 net income attributable to Cogo Group, Inc. was $2.7 million of share-based compensation expenses recognized in accordance with Accounting Standards Codification ("ASC") 718, Compensation-Stock Compensation and $0.8 million of amortization of intangible assets and related deferred taxation. Non-GAAP net income attributable to Cogo Group, Inc. was $4.0 million.

Revenue Review

Revenue for the third quarter was $216.4 million, an increase of 47.8% compared to $146.4 million reported for the same period in 2011. The revenue breakdown includes: $82.3 million, or 38.0% of total sales for digital media, representing a 40.7% increase year-over-year; $94.7 million, or 43.8% of total sales for telecommunications equipment, representing a 63.6% increase year-over-year; and $39.4 million, or 18.2% of total sales relating to industrial business, representing a 31.3% increase year-over-year. The Company did not record any services revenue in the third quarter of 2012 or 2011. The Company is currently participating in what management believes to be some of the fastest growing industrial end-markets in China, including the smart grid, wind power, smart meter, automotive, high-speed railway and medical equipment sectors. Over time, the Company expects to expand into other verticals in the industrial business end-market, such as electronic security.

Customers Update

In the third quarter of 2012, blue-chip customers accounted for approximately 72% of the Company's total revenue, down from approximately 74% for the same period in 2011. Small and medium enterprise ("SME") customers accounted for the remaining approximately 28% of total revenue in the quarter. Management's goal is to achieve 50% of total sales from SME customers in the longer term. It is expected that gross margins in our SME business will remain higher than our blue-chip customers in the future.

Cost of sales, which includes the aggregate purchase of components from suppliers, was $202.9 million compared to $131.3 million in the third quarter of 2011, representing an increase of 54.6% year-over-year. Gross profit for the third quarter was $13.5 million, down 10.9%, compared to $15.2 million during the third quarter of last year. Gross margin for the third quarter of 2012 was 6.2%, compared to 10.4% reported for the third quarter of 2011.

Operating expenses, including selling, general and administrative, and research and development expenses, totaled $10.9 million, down 7.9%, compared to $11.8 million reported for the third quarter of 2011.

Income from operations was $2.6 million, a decrease of 21.5% from $3.3 million reported in the same period of 2011. Operating margin for the third quarter of 2012 was 1.2% compared to 2.3% for the third quarter of 2011. Excluding the effects of share-based compensation expenses and amortization of intangible assets and related deferred taxation, operating margin would have been 2.9% for the third quarter of 2012, compared to 4.8% for the same period in 2011. The effective tax rate for the third quarter of 2012 was 13.0%, compared to 14.4% for the same period in 2011.  Noncontrolling interests' share of income was $1.3 million for the third quarter of 2012 as compared with $0.3 million for the third quarter of 2011.

Net income attributable to Cogo Group, Inc. for the third quarter of 2012 was $0.5 million or Diluted EPS attributable to Cogo Group, Inc. of $0.01 on a U.S. GAAP basis, compared to net income of $2.3 million, or Diluted EPS attributable to Cogo Group, Inc. of $0.06, in the third quarter of 2011. Included in the third quarter of 2012 was $2.6 million attributable to share-based compensation expenses and $0.8 million attributable to amortization of intangible assets and related deferred taxation. Excluding share-based compensation expenses and amortization of intangible assets and related deferred taxation, the Non-GAAP net income would have been $4.0 million, or $0.11 Non-GAAP Diluted EPS attributable to Cogo Group, Inc. for the third quarter of 2012. The weighted average number of shares used in the calculation of diluted EPS was 36.8 million compared to 36.3 million in the third quarter of 2011.

For the nine-month period ended September 30, 2012, the Company reported revenue of $581.1 million, an increase of 49.0% as compared to the $390.0 million reported during the nine-month period ended September 30, 2011. Gross profit was $38.9 million, a decrease of 17.6% from the $47.2 million reported during the nine-month period ended September 30, 2011. Gross margin was 6.7% of sales, compared to a gross margin of 12.1% for the same period last year. Net operating expenses were $30.1 million, a decrease of 9.6% as compared to $33.3 million for the same period last year. Income from operations was $8.8 million, a decrease of 36.7% from the $13.9 million reported during the prior year period. The Non-GAAP operating margin, excluding share-based compensation expense and amortization of intangible assets, was 3.4%, as compared to 6.7% for the same period last year, as a result of decreased gross margin. The Company had an effective tax rate of 12.2% compared to 11.5% during the prior year period. Non-controlling interests' share of income was $3.0 million as compared to $1.2 million during the same period last year. Net income attributable to Cogo Group, Inc. for the nine-month period was down 66.6% at $3.6 million from the same period last year.

Balance Sheets and Cash Flows
Total cash, including pledged bank deposits, was $162.7 million at the end of the third quarter of 2012, up from $159.5 million as of December 31, 2011. Bank borrowings increased to $137.1 million as of September 30, 2012, up from $135.7 million as of December 31, 2011. The Company has a current ratio of 2.5 to 1 and generated negative operating cash flow of $8.2 million during the third quarter of 2012, largely due to an increase in accounts receivable and inventory necessary to drive expected future business growth opportunities.

Inventories increased from $52.0 million as of December 31, 2011 to $59.4 million as of September 30, 2012 as the Company prepares for seasonal order strength in the second half of 2012 from its rapidly growing customer base. Inventory turnover days was 27 days in the third quarter of 2012 compared to 31 days in the fourth quarter of 2011. Accounts receivable decreased from $149.6 million as of December 31, 2011 to $143.5 million as of September 30, 2012 and the Days Sales Outstanding decreased from 80 days as of December 31, 2011 to 61 days.  Accounts payable decreased from $19.3 million at the end of 2011 to $16.4 million as of September 30, 2012 and Days Payable Outstanding decreased significantly from 11 to 7 days sequentially. Cogo's cash conversion cycle decreased from 100 days in the fourth quarter of 2011 to 81 days in the third quarter of 2012.

Total equity was $256.4 million as of September 30, 2012, an increase of 6.2% from $241.5 million as of December 31, 2011.  During the third quarter of 2012, the Company repurchased 38,935 shares. The Company continues to view share buybacks as a strategic use of cash.

About Cogo Group, Inc.:
Cogo Group, Inc. (Nasdaq: COGO) is one of the leading gateways for global semiconductor companies to access the rapidly growing Industrial and Technology sectors in China. Through its unique business-to-business services platform, Cogo designs customized embedded solutions using technology from suppliers including Intel, Broadcom, Xilinx, SanDisk, Freescale, Atmel and others for a customer base of 2,300 Chinese OEMs/ODMs. Cogo's customer list includes approximately 100 blue-chip companies, including ZTE, BYD and NARI, as well as nearly 2,200 Small and Medium Enterprises (SMEs). The Company serves a broad list of rapidly growing end-markets in China, including 3G Smartphones, Tablets, Automotives, High-Speed Railway, Smart Meter/Smart Grid, Healthcare and High Definition Television ("HDTV").  

For further information:
Investor Relations
www.cogo.com.cn/investorinfo.html
[email protected]
H.K.:    +852 2730 1518 
U.S.:    +1 (646) 291 8998
Fax:      +86 755 2674 3522

Safe Harbor Statement:
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business or growth strategy such as growth in digital media, telecommunications and industrial applications businesses, as well as our potential acquisitions which are subject to change. Such information is based upon expectations of our management that were reasonable when made, but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.

About Non-GAAP Financial Measures:
To supplement Cogo's unaudited consolidated financial results presented in accordance with GAAP, Cogo uses the following measures defined as Non-GAAP financial measures by the SEC: 1) Non-GAAP net income attributable to Cogo Group, Inc. which is net income attributable to Cogo Group, Inc. excluding share-based compensation expenses and amortization of intangible assets and related deferred taxation, and 2) Non-GAAP diluted EPS attributable to Cogo Group, Inc., which is diluted EPS excluding share-based compensation expenses and amortization of intangible assets and related deferred taxation. 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 Non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.

Cogo believes that these Non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses and amortization of intangible assets and related deferred taxation that may not be indicative of its operating performance from a cash perspective. Cogo believes that both management and investors benefit from referring to these Non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These Non-GAAP financial measures also facilitate management's internal comparisons to Cogo's historical performance and liquidity. Cogo computes its Non-GAAP financial measures using the same consistent method from quarter to quarter.

Cogo believes these Non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using Non-GAAP net income attributable to Cogo Group, Inc., Non-GAAP diluted Earnings Per Share attributable to Cogo Group, Inc., Non-GAAP income from operation and Non-GAAP operating margin is that these Non-GAAP measures exclude share-based compensation expenses and amortization of intangible assets and related deferred taxation that have been and will continue to be for the foreseeable future a recurring expense in our business. 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 reconciliations between GAAP financial measures that are most directly comparable to Non-GAAP financial measures.

Tables Attached

 

 

FINANCIAL INFORMATION

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

COGO GROUP, INC. and SUBSIDIARIES

Unaudited Condensed Consolidated Balance Sheets as of September 30, 2012

and December 31, 2011








December
31,


September 30, 2012


2011


USD'000

RMB'000


RMB'000

Assets





Current assets:





Cash

83,215

522,987


572,364

Pledged bank deposits

79,500

499,642


431,695

Accounts receivable, net

143,545

902,150


941,798

Bills receivable

11,883

74,683


39,889

Inventories

59,362

373,079


327,482

Income taxes receivable

282

1,774


1,932

Prepaid expenses and other receivables

13,481

84,725


51,507

Total current assets

391,268

2,459,040


2,366,667

Property and equipment, net

3,278

20,599


17,891

Land use rights, net

3,036

19,080


Intangible assets, net

21,502

135,133


154,105

Other assets

101

633


21,325

Total Assets

419,185

2,634,485


2,559,988

Liabilities and equity





Current liabilities:





Accounts payable

16,396

103,047


121,538

Bank borrowings

137,075

861,487


854,234

Income taxes payable

2,506

15,747


16,046

Accrued expenses and other liabilities

3,306

20,776


22,593

Total current liabilities

159,283

1,001,057


1,014,411

Deferred tax liabilities

3,548

22,297


25,427

Total liabilities

162,831

1,023,354


1,039,838

Equity





Common stock:  





Par value: USD0.01





Authorized: 200,000,000 Shares










  Issued: 42,635,821 shares in 2012, 42,309,285 shares in 2011










  Outstanding: 33,848,068 shares in 2012, 33,560,467 shares in 2011

535

3,360


3,340

Additional paid in capital

227,710

1,431,112


1,382,521

Retained earnings

92,737

582,836


560,234

Accumulated other comprehensive loss

(20,236)

(127,181)


(128,254)


300,746

1,890,127


1,817,841

Less cost of common stock in treasury, 8,787,753 in 2012, 8,748,818 shares in 2011

(51,003)

(320,542)


(320,025)

Total Cogo Group, Inc. equity

249,743

1,569,585


1,497,816

Noncontrolling interests

6,611

41,546


22,334

Total equity

256,354

1,611,131


1,520,150

Total liabilities and equity

419,185

2,634,485


2,559,988

 

 

 

COGO GROUP, INC. and SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Income and

Comprehensive Income for the three months ended September 30, 2012 and 2011




Three Months ended September 30,


2012


2012


2011


USD'000


RMB'000


RMB'000

Net Revenue






Product sales

216,443


1,360,302


933,919

Service revenue

-


-


-


216,443


1,360,302


933,919

Cost of sales






Cost of goods sold

(202,941)


(1,275,443)


(837,234)

Cost of service

-


-


-


(202,941)


(1,275,443)


(837,234)

Gross profit

13,502


84,859


96,685

Selling, general and administrative expenses

(6,860)


(43,114)


(50,302)

Research and development expenses

(4,024)


(25,293)


(25,059)

Other operating income

10


59


23

Income from operations

2,628


16,511


21,347

Interest expense

(1,070)


(6,725)


(6,322)

Interest income

514


3,232


4,066

Earnings before income taxes

2,072


13,018


19,091

Income tax expense

(269)


(1,688)


(2,745)

Net income

1,803


11,330


16,346

Less net income attributable to noncontrolling interests

(1,284)


(8,070)


(1,705)







Net income attributable to Cogo Group, Inc.

519


3,260


14,641







Earnings per share attributable to Cogo Group, Inc.






Basic

0.01


0.09


0.40

Diluted

0.01


0.09


0.40







Weighted average number of common shares outstanding






Basic



36,731,113


36,317,706

Diluted



36,768,927


36,317,706







Comprehensive income:






Net income

1,803


11,330


16,346

Other comprehensive income






Foreign currency translation adjustments

(285)


(1,790)


(2,461)


1,518


9,540


13,885

Comprehensive income






Less: comprehensive income attributable to noncontrolling interests

(1,333)


(8,377)


(1,663)

Comprehensive income attributable to Cogo Group, Inc.

185


1,163


12,222

 

 

 

COGO GROUP, INC. and SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Income and

Comprehensive Income for the Nine Months ended September 30, 2012 and 2011




Nine Months ended September 30,


2012

2012

2011


USD'000

RMB'000

RMB'000

Net Revenue




Product sales

581,083

3,651,990

2,487,562

Service revenue

-

-

-


581,083

3,651,990

2,487,562

Cost of sales




Cost of goods sold

(542,165)

(3,407,396)

(2,186,731)

Cost of service

-

-

-


(542,165)

(3,407,396)

(2,186,731)

Gross profit

38,918

244,594

300,831

Selling, general and administrative expenses

(18,765)

(117,937)

(141,315)

Research and development expenses

(11,646)

(73,191)

(71,185)

Other operating income

285

1,788

17

Income from operations

8,792

55,254

88,348

Interest expense

(2,997)

(18,835)

(13,184)

Interest income

1,728

10,859

10,875

Earnings before income taxes

7,523

47,278

85,949

Income tax expense

(918)

(5,770)

(9,858)

Net income

6,605

41,508

76,091

Less net income attributable to noncontrolling interests

(3,008)

(18,906)

(7,439)





Net income attributable to Cogo Group, Inc.

3,597

22,602

68,652





Earnings per share attributable to Cogo Group, Inc.




Basic

0.10

0.62

1.83

Diluted

0.10

0.62

1.81





Weighted average number of common shares outstanding




Basic


36,380,971

37,457,578

Diluted


36,393,668

37,878,587





Comprehensive income:




Net income

6,605

41,508

76,091

Other comprehensive income




Foreign currency translation adjustments

180

1,136

(5,981)


6,785

42,644

70,110

Comprehensive income




Less: comprehensive income attributable to noncontrolling interests

(3,018)

(18,969)

(7,311)

Comprehensive income attributable to Cogo Group, Inc.

3,767

23,675

62,799

 

 

 

COGO GROUP, INC. and SUBSIDIARIES

 

UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES








Three Months ended
September 30,




2012


2011




$'000  


$'000   

Net Income






GAAP net income attributable to Cogo Group, Inc.


519


2,296


Share-based compensation expenses


2,682


2,943


Amortization of intangible assets and related deferred taxation


840


613


Non-GAAP net income attributable to Cogo Group, Inc.


4,041


5,852






Income from operation






GAAP income from operations


2,628


3,346


Share-based compensation expenses


2,682


2,943


Amortization of intangible assets


1,006


734


Non-GAAP income from operation


6,316


7,023







Operating Margin






GAAP operating margin


1.2%


2.3%


Non-GAAP operating margin


2.9%


4.8%







Earnings per share


$


$


GAAP net income attributable to Cogo Group, Inc. per common share-Diluted


0.01


0.06


Non-GAAP net income attributable to Cogo Group, Inc. per common share-Diluted


0.11


0.16













Weighted average number of common shares outstanding






Basic


36,731,113


36,317,706


Diluted


36,768,927


36,317,706














 

 

SOURCE Cogo Group, 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
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...