Click here to close now.

Welcome!

Microsoft Cloud Authors: Aleksei Gavrilenko, Elizabeth White, Liz McMillan, Pat Romanski, Jaynesh Shah

News Feed Item

New Energy Systems Group Reports Third Quarter 2012 Financial Results

Cash and cash Equivalents Improved to $10.3 Million, or $0.71 per Share; Non-GAAP Adjusted Net Income and EPS of $0.8 Million and $0.06, Respectively

SHENZHEN, CHINA -- (Marketwire) -- 11/16/12 -- New Energy Systems Group (NYSE MKT: NEWN) ("New Energy" or the "Company"), a vertically integrated original design manufacturer and distributor of Anytone® and MeePower®-branded consumer backup power systems for mobile devices and solar panels and related solar application products to service municipal power applications, today announced financial results for the third quarter ended September 30, 2012.

Mr. Jack Yu, Chairman of New Energy, stated, "Over the past year, other than operations, we have generated $5.7 million of cash from selling non-core assets that were losing substantial amount of money. With over $10 million of cash, no debt and valuable intellectual property related to our Anytone consumer electronic and solar businesses, we are looking for those strategies to stable and regrow our shareholder value."



----------------------------------------------------------------------------
For the Three Months Ended September 30,
----------------------------------------------------------------------------
                                             2012           2011      CHANGE
----------------------------------------------------------------------------
Net Sales                                $3.6 million   $6.7 million   -46%
----------------------------------------------------------------------------
Gross Profit                             $0.2 million   $1.2 million   -80%
----------------------------------------------------------------------------
Net Income (Loss) from Continued        $(7.6) million ($0.5) million  N/A
Operations
----------------------------------------------------------------------------
Adjusted Net Income (Loss)* from         $0.8 million   $0.2 million  +455%
Continued Operations
----------------------------------------------------------------------------
GAAP EPS (Diluted) from Continued          $(0.52)        $(0.04)      N/A
Operations
----------------------------------------------------------------------------
Adjusted EPS (Diluted)* from Continued      $0.06          $0.01      +452%
Operations
----------------------------------------------------------------------------

*Adjusted net income and adjusted EPS exclude $0.2 million of non-cash
stock-based compensation expenses and $0.5 million of amortization expenses
during Q3 2012 and Q3 2011, respectively. Q3 2012 reported net income and
EPS includes a $7.7 million non-cash goodwill and intangible assets
impairment charge. Fully diluted shares on September 30, 2012 were 14.6
million versus 14.6 million on September 30,2011.


Revenues declined 46% year-over-year to $3.6 million due to lower demand for batteries in China and increased competition. Solar panel and related solar product sales were down 62% to $1.9 million due to the downturn pressure of the entire solar market and intense market competition.

Cost of sales decreased 38% to $3.4 million from $5.5 million in the third quarter of 2011 due to lower sales and production volumes. Gross profit in the third quarter of 2012 was $0.2 million compared to $1.2 million, a 80% decline compared to the same period last year.

Consolidated gross margin fell to 7% from 18% in the third quarter of 2011 as a result of higher raw materials and labor costs and a significant decrease in production and sales volumes.

Selling, general and administrative expenses ("SG&A") for the three months ended September 30, 2012 were $1.8 million, essentially unchanged from the same period last year.

The Company incurred $0.2 million of non-cash stock-based compensation expenses and $0.5 million amortization expenses during the third quarter of 2012 and 2011. New Energy recorded a non-cash goodwill and intangible assets impairment charge of $7.7 million in the third quarter of 2012 related to its Anytone and Kim Fai solar businesses. Excluding these expenses, operating income was $0.8 million for the third quarter of 2012.

Net income from continuing operations was a net loss of $7.6 million compared to a net loss of $0.5 million in the third quarter of 2011. GAAP net loss per share was was $0.52 in the third quarter of 2012 compared to a net loss per share of $0.04 in 2011. Non-GAAP adjusted net income and earnings per share were $0.8 million and $0.06, respectively, in the third quarter of 2012.

----------------------------------------------------------------------------
For the Nine months Ended September 30,
----------------------------------------------------------------------------
                                             2012           2011      CHANGE
----------------------------------------------------------------------------
Net Sales                               $12.2 million  $30.3 million   -60%
----------------------------------------------------------------------------
Gross Profit                             $0.8 million  $10.5 million   -93%
----------------------------------------------------------------------------
Net Income (Loss) from Continued
Operations                             $(19.1) million  $3.9 million   N/A
----------------------------------------------------------------------------
Adjusted Net Income (Loss)* from
Continued Operations                    $(0.9) million  $5.9 million   N/A
----------------------------------------------------------------------------
GAAP EPS (Diluted) from Continued
Operations                                 $(1.31)         $0.27       N/A
----------------------------------------------------------------------------
Adjusted EPS (Diluted)* from Continued
Operations                                 $(0.06)         $0.41       N/A
----------------------------------------------------------------------------

*Adjusted net income and adjusted EPS exclude $0.5 million and 0.5 million
of non-cash stock-based compensation expenses and $1.6 million and $1.5
million of amortization expenses during YTD 2012 and YTD 2011, respectively.
YTD 2012 reported net income and EPS includes a $16.1 million non-cash
goodwill and intangible assets impairment charge. Fully diluted shares on
September 30, 2012 were 14.6 million versus 14.5 million on September
30,2011.


Consolidated net sales for the nine months ended September 30, 2012 were $12.2 million, a decrease of 60% compared to $30.3 million in the corresponding period in 2011. Sales of Anytone batteries and Kim Fai solar products were $6.7 million and $5.5 million, respectively, in the first nine months of 2012.

Cost of sales was $11.4 million, down 42% from $19.8 million in the first nine months of 2011. Gross profit and gross margin were $0.8 million and 6%, respectively, in the nine months ended September 30, 2012.

Selling, general and administrative expenses increased 13% to $5.7 million. Loss from continuing operations was a net loss $21.1 million compared to a net income of $5.5 million in the same period a year ago.

Non-GAAP adjusted net loss and EPS were $0.9 million loss and $0.06 loss per share in the first nine months of 2012, respectively. The weighted average diluted shares outstanding were 14.6 million.

Balance Sheet and Cash Flow Summary

As of September 30, 2012, New Energy Systems Group had cash and equivalents of approximately $10.3 million, up from $4.5 million as of December 31, 2011. The Company received $5.7 million for sale of disposed subsidiaries and generated $0.3 million of cash from operations.

Working capital was approximately $19.1 million at September 30, 2012; accounts receivable was $4.3 million compared to $6.6 million as of December 31, 2011.

Business Update:

During the last quarter, through reduced sales prices of certain products, continuing marketing efforts and exploration of other potential market, the Company managed to control the loss brought by piracy and counterfeit to our mobile power products. In addition to searching for potential partners in the global market, the Company also starts to sell its products directly on the large E-Commence websites such as Amazon and eBay. Also, the Company plans to sell its products directly from its official website to foreign customers in the near future. Moreover, the Company will aggressively participate in domestic and international trade shows for any potential business opportunity, including the recent solar energy show in South Africa and CES 2013 in Las Vegas. Finally, the Company has also developed compatible mobile power products for the popular consumer electronic products such as iPhone 5 and Galaxy S3.

About New Energy Systems Group

New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The company's end-user consumer products are sold under the Anytone® brand in China, and the company has begun expanding its international sales efforts. The fast pace of new mobile device introductions in China combined with a growing middle class make it fertile ground for New Energy's end-user consumer products, as well as its high powered, light weight lithium ion batteries. In addition to historically strong organic growth, New Energy is expected to benefit from economies of scale, broader distribution, and higher production capacity and higher profit margins. Additional information about the company is available at: www.newenergysystemsgroup.com.

Forward Looking Statements

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.



                  NEW ENERGY SYSTEMS GROUP AND SUBSIDIARIES
                         CONSOLIDATED BALANCE SHEETS
                                               September 30,  December 31,
                                                    2012           2011
                                               -------------  -------------
                    ASSETS                      (Unaudited)
Current assets
Cash and equivalents                           $  10,349,517  $   4,528,731
Accounts receivable                                4,253,457      6,614,814
Inventory                                            479,829      1,661,515
Prepayments                                           50,946        554,375
Other receivables                                  5,520,000      5,520,000
Taxes receivable                                           -        217,106
Due from shareholders                                282,540        284,337
Deferred compensation                                607,087        686,979

  Total current assets                            21,543,376     20,067,857

Noncurrent assets
Property and equipment, net                          330,465        208,271
Other receivables                                  2,322,500      8,030,209
Deferred compensation                                      -        423,493
Goodwill                                          29,830,694     39,888,807
Intangible assets, net                             3,412,640     11,051,910

  Total noncurrent assets                         35,896,299     59,602,690

TOTAL ASSETS                                   $  57,439,675  $  79,670,547

      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
Accounts payable                               $   1,542,990  $   2,837,889
Accrued expenses and other payables                  873,070        818,452
Taxes payable                                         71,404         21,103

  Total current liabilities                        2,487,464      3,677,444

Deferred tax liability                               853,160      2,764,571

TOTAL LIABILITIES                                  3,340,624      6,442,015

Commitments and Contingencies

Stockholders' equity
Preferred stock, $.001 par value, 60,000,000
 shares authorized, 0 shares issued and
 outstanding                                               -              -
Common stock, $.001 par value, 140,000,000
 shares authorized, 14,631,731 and 14,571,731
 shares issued and outstanding at September
 30, 2012 and December 31, 2011, respectively         14,631         14,571
Additional paid in capital                        74,298,859     74,255,585
Statutory reserves                                 2,410,573      2,410,573
Other comprehensive income                         3,249,413      3,292,074
Accumulated deficit                              (25,874,425)    (6,744,271)

TOTAL STOCKHOLDERS' EQUITY                        54,099,051     73,228,532

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY     $  57,439,675  $  79,670,547

The accompanying notes are an integral part of these consolidated financial
statements.




                  NEW ENERGY SYSTEMS GROUP AND SUBSIDIARIES
        CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                                 (UNAUDITED)
                          Nine Months Ended          Three Months Ended
                            September 30,               September 30,
                     --------------------------  --------------------------
                         2012          2011          2012          2011
                     ------------  ------------  ------------  ------------

NET SALES
  Battery            $  6,687,091  $ 13,657,611  $  1,698,783  $  1,703,729
  Solar panel           5,494,777    16,649,096     1,937,476     4,973,124
    Total sales        12,181,868    30,306,707     3,636,259     6,676,853

COST OF SALES
  Battery               6,191,309     6,546,438     1,551,795       800,633
  Solar panel           5,235,908    13,220,831     1,845,789     4,667,322
    Total cost of
     sales             11,427,217    19,767,269     3,397,584     5,467,955

GROSS PROFIT              754,651    10,539,438       238,675     1,208,898

OPERATING EXPENSE
  Selling                 892,253       881,257       173,520       283,284
  General and
   administrative       4,839,943     4,197,889     1,597,636     1,541,875
  Patent impairment     6,086,840             -     6,086,840             -
  Goodwill
   impairment          10,058,113             -     1,638,017             -
    Total operating
     expenses          21,877,149     5,079,146     9,496,013     1,825,159

INCOME (LOSS) FROM
 OPERATIONS           (21,122,498)    5,460,292    (9,257,338)     (616,261)

OTHER INCOME
 (EXPENSES)
  Other expense
   (income)                  (810)        1,983          (204)         (341)
  Interest income          26,288        10,254         9,005         5,791
    Total other
     income, net           25,478        12,237         8,801         5,450

INCOME (LOSS) BEFORE
 INCOME TAXES         (21,097,020)    5,472,529    (9,248,537)     (610,811)
INCOME TAX BENEFIT
 (EXPENSE)              1,966,866    (1,570,786)    1,667,253        85,269

INCOME (LOSS) FROM
 CONTINUING
 OPERATIONS           (19,130,154)    3,901,743    (7,581,284)     (525,542)
LOSS FROM
 DISCONTINUED
 OPERATIONS, NET OF
 TAX                            -   (12,147,523)            -   (16,327,666)

NET LOSS              (19,130,154)   (8,245,780)   (7,581,284)  (16,853,208)

OTHER COMPREHENSIVE
 INCOME (LOSS)
  Foreign currency
   translation           (278,743)      659,551      (241,737)      298,160

COMPREHENSIVE LOSS   $(19,408,897) $ (7,586,229) $ (7,823,021) $(16,555,048)

WEIGHTED AVERAGE
 SHARES OUTSTANDING
  Basic                14,595,600    14,381,065    14,631,731    14,551,731
  Diluted              14,595,600    14,548,462    14,631,731    14,551,731

NET INCOME (LOSS)
 PER SHARE FROM
 CONTINUING
 OPERATIONS
  Basic              $      (1.31) $       0.27  $      (0.52) $      (0.04)
  Diluted            $      (1.31) $       0.27  $      (0.52) $      (0.04)

NET INCOME (LOSS) PER SHARE FROM
 DISCONTINUED OPERATIONS
  Basic              $          -  $      (0.84) $          -  $      (1.12)
  Diluted            $          -  $      (0.83) $          -  $      (1.12)

NET INCOME (LOSS)
 PER SHARE
  Basic              $      (1.31) $      (0.57) $      (0.52) $      (1.16)
  Diluted            $      (1.31) $      (0.57) $      (0.52) $      (1.16)

The accompanying notes are an integral part of these consolidated financial
statements.




                  NEW ENERGY SYSTEMS GROUP AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)
                                            Nine Months Ended September 30,
                                           --------------------------------
                                                 2012             2011
                                           ---------------  ---------------

CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                 $   (19,130,154) $    (8,245,780)
  Adjustments to reconcile net loss to net
   cash provided by operating activities:
    Depreciation and amortization                1,618,413        2,328,860
    Changes in deferred taxes                   (1,911,410)        (509,557)
    Deferred stock compensation                    533,985          506,250
    Stock options and warrant expense               29,534           33,828
    Goodwill impairment                         10,058,113       13,564,691
    Patent impairment                            6,086,840                -
  (Increase) / decrease in current assets:
    Accounts receivable                          2,477,524          755,306
    Inventory                                    1,175,628       (1,177,906)
    Prepaid expenses, deposits and other
     receivables                                   502,024         (868,679)
  Increase/(decrease) in current
   liabilities:
    Accounts payable                            (1,430,992)      (1,736,844)
    Accrued expenses and other payables             55,738          193,518
    Taxes payable                                  267,180       (1,969,979)

NET CASH PROVIDED BY OPERATING ACTIVITIES          332,423        2,873,708

CASH FLOWS FROM INVESTING ACTIVITIES
    Cash from sale of disposed
     subsidiaries                                5,728,957                -
    Acquisition of property and equipment         (189,964)         (84,771)

NET CASH PROVIDED BY (USED IN) INVESTING
 ACTIVITIES                                      5,538,993          (84,771)

CASH FLOWS FROM FINANCING ACTIVITIES
    Repayment of acquisition liability for
     subsidiaries                                        -       (6,802,616)
    Cash from warrant exercise                           -           87,500

NET CASH USED IN FINANCING ACTIVITIES                    -       (6,715,116)

EFFECT OF EXCHANGE RATE CHANGE ON CASH AND
 EQUIVALENTS                                       (50,630)         457,787

NET INCREASE (DECREASE) IN CASH AND
 EQUIVALENTS                                     5,820,786       (3,468,392)

CASH AND EQUIVALENTS, BEGINNING OF PERIOD        4,528,731       13,065,008

CASH AND EQUIVALENTS, END OF PERIOD        $    10,349,517  $     9,596,616

SUPPLEMENTAL DISCLOSURES:
  Cash paid during the period for:
    Income taxes                           $             -  $     4,745,614
    Interest                               $             -  $             -

The accompanying notes are an integral part of these consolidated financial
statements.


More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context wi...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust IoT ...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare to be blown away with a glimpse of the future.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fillin...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
SYS-CON Events announced today that the "Second Containers & Microservices Conference" will take place November 3-5, 2015, at the Santa Clara Convention Center, Santa Clara, CA, and the “Third Containers & Microservices Conference” will take place June 7-9, 2016, at Javits Center in New York City. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, 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!